又一家上市公司拟主动退市 此前因年报逾期“披星戴帽”

Core Viewpoint - Tianmao Group has announced its intention to voluntarily delist from the A-share market due to significant operational uncertainties and the inability to publish its 2024 annual report on time, which has led to considerable delisting pressure [1][4]. Group 1: Delisting Announcement - Tianmao Group's board has approved a resolution to voluntarily withdraw its A-share listing on the Shenzhen Stock Exchange, pending approval from shareholders [2]. - The delisting requires a two-thirds majority vote from shareholders, with the controlling shareholder holding 66.78% of the shares, making the support of the remaining 33.23% crucial for the resolution's passage [2][3]. Group 2: Reasons for Delisting - The company cited business restructuring and significant uncertainties as the primary reasons for the delisting decision [2]. - Tianmao Group has faced pressure due to the failure to disclose its 2024 annual report within the legal timeframe, leading to a delisting risk warning from the Shenzhen Stock Exchange [4]. Group 3: Financial Performance - Tianmao Group has reported declining performance over the years, with net profits decreasing by 67.32%, 18.88%, 41.78%, and 337.82% from 2020 to 2023, culminating in a net loss of 6.52 billion yuan in 2023 [5]. - For the first three quarters of 2024, the company has projected a net loss of 3.33 billion yuan, with expectations of a total loss between 5 billion to 7.5 billion yuan for the year [6]. Group 4: Investor Protection Mechanism - The company has established an investor protection mechanism, allowing shareholders to exercise a cash option for their shares post-delisting, ensuring they receive cash compensation for their holdings [3]. Group 5: Industry Context - Several companies have voluntarily delisted from the A-share market this year, including Haitong Securities and Yulong Co., due to operational uncertainties and financial difficulties [7]. - The trend of voluntary delisting is seen as a move to reduce "shell speculation" and optimize market ecology, reflecting the maturity of market mechanisms [8].