Biocause Pharma(SZ:000627) Shang Hai Zheng Quan Bao·2025-08-18 22:12Core Viewpoint - Tianmao Industrial Group Co., Ltd. is facing the risk of being delisted due to its inability to disclose the 2024 annual report and the 2025 first-quarter report within the legal timeframe [2][4] Group 1: Reasons for Potential Delisting - The company has been unable to disclose the 2024 annual report and the 2025 first-quarter report, leading to a trading suspension since May 6, 2025 [4] - The stock was resumed trading on July 8, 2025, but was subject to delisting risk warning due to the failure to disclose the required reports [4] - According to Shenzhen Stock Exchange regulations, if the company does not disclose a majority of the board's assurance of the reports within two months of the delisting risk warning, the exchange will decide to terminate the company's stock listing [4][7] Group 2: History of Delisting Risk Announcements - The company has issued multiple delisting risk announcements, with the first one on July 15, 2025, and subsequent announcements on July 22, July 29, August 5, and August 12, 2025 [5][6] - This announcement is the sixth risk warning regarding potential delisting [6] Group 3: Other Information - The company's board has approved a resolution to voluntarily withdraw its A-shares from the Shenzhen Stock Exchange and apply for transfer to the National Equities Exchange and Quotations system after delisting [3][7] - The company received a notice from the China Securities Regulatory Commission on May 6, 2025, regarding an investigation for failing to disclose periodic reports on time [3][7]