Biocause Pharma(SZ:000627) Mei Ri Jing Ji Xin Wen·2025-08-25 23:34Core Viewpoint - *ST Tianmao, controlled by Liu Yiqian, plans to voluntarily delist after failing to disclose its annual report and facing delisting risk warnings, with the proposal passing at a shareholder meeting with 98.0562% approval [1][9]. Group 1: Shareholder Meeting Details - The shareholder meeting lasted over two hours, with many minority shareholders traveling long distances to attend, including one from Inner Mongolia [1][4]. - Despite concerns raised by minority shareholders regarding the delayed annual report, the company did not provide substantial responses [1][8]. - The meeting was held at the Guohua Huijin Center in Jingmen, indicating the company's emphasis on the event [4]. Group 2: Voting Results - A total of 6,901 shareholders participated in the meeting, with 17 attending in person and 6,892 voting online, representing over 4.2 billion shares [6]. - The proposal for voluntary delisting received 41.80 billion shares in favor, accounting for 98.0562% of the votes, while 806.3 million shares opposed the motion [9]. Group 3: Shareholder Concerns - Minority shareholders expressed concerns about the reasons behind the delayed annual report and the operational status of the core asset, Guohua Life, which management claimed was operating normally [8]. - The cash option exercise price was set at 1.60 yuan per share, representing a premium of approximately 10.34% over the last trading day's closing price of 1.45 yuan, but shareholders questioned the fairness of this pricing given the company's net asset value of 4.41 yuan per share [8].