Core Viewpoint - *ST Tianmao is taking steps towards voluntary delisting due to continuous performance decline and inability to meet disclosure obligations, with a significant majority of shareholders supporting this decision [1][4]. Group 1: Company Performance and Financials - The company has been experiencing ongoing losses, with a reported net profit of -6.52 billion yuan for the year, and projected losses for 2024 ranging from 5 billion to 7.5 billion yuan [4]. - The core business of *ST Tianmao, primarily through its subsidiaries in the insurance sector, has seen its revenue heavily impacted, with insurance-related income accounting for 99.99% of its main business revenue [4]. Group 2: Shareholder Actions and Market Reactions - A significant number of investors have sold their shares, with over 8,000 investors exiting since the announcement of potential delisting risks in April [2]. - Following the resumption of trading on July 8, the stock price fell sharply, reaching a low of 1.39 yuan per share, representing a decline of approximately 50% from the price before the trading halt [2]. Group 3: Delisting Process and Cash Option - The company has proposed a cash option for shareholders at a price of 1.6 yuan per share, which is a 10.34% premium over the last closing price before the suspension [3]. - The total cost for implementing this cash option is estimated at 26.07 billion yuan, with the cash option provider being a partnership linked to the company's actual controller [3]. Group 4: Regulatory and Legal Implications - The company is under investigation by the regulatory authorities for failing to disclose periodic reports, which constitutes a violation of securities law, and will face administrative penalties post-delisting [5]. - Other companies, such as Hengli Industrial and *ST Zitian, have faced similar fates due to non-disclosure of financial reports, highlighting a broader trend in the industry [5][6].
*ST天茂主动退市通过审议 后续仍将受监管处罚
Zheng Quan Ri Bao Wang·2025-08-25 14:55