Biocause Pharma(SZ:000627) Zhong Guo Zheng Quan Bao - Zhong Zheng Wang·2025-09-01 06:51Core Viewpoint - Tianmao Industrial Group Co., Ltd. is voluntarily terminating the listing of its A-shares on the Shenzhen Stock Exchange due to significant uncertainties related to business restructuring, and will initiate a cash option distribution for shareholders [2][36]. Group 1: Termination of Listing - The company plans to withdraw its A-shares from trading on the Shenzhen Stock Exchange and will apply for transfer to the National Equities Exchange and Quotations after the termination [2][36]. - The decision to terminate the listing has been approved by the company's first extraordinary general meeting of 2025 [2][36]. Group 2: Cash Option Distribution - Eligible A-share shareholders will receive one cash option for each share held, with a cash option exercise price set at 1.60 yuan per share [3][16]. - The total number of cash options to be distributed is expected to be up to 1,629,376,288 shares, excluding shares held by certain major shareholders [13][27]. - The cash options will not be traded on the market [14]. Group 3: Shareholder Rights and Responsibilities - Shareholders must ensure that the shares they wish to exercise cash options on are not subject to restrictions such as pledges or freezes [8][22]. - Shareholders holding shares in margin accounts must transfer them to regular accounts before the cash option registration date to be eligible for the cash options [4][23]. - The cash option exercise period will be announced separately, and shareholders must submit their exercise requests during specified trading hours [18][20]. Group 4: Financial Reporting and Compliance - The company was unable to disclose its 2025 semi-annual report on time due to incomplete preparation of previous reports, leading to continued suspension of its stock [34][35]. - The company has faced regulatory scrutiny and has been under risk warning since July 8, 2025, due to failure to disclose required reports [36][37].