Core Viewpoint - Hong Jiu Fruit (stock code: 6689) faces delisting from the Hong Kong Stock Exchange due to failure to meet resumption guidelines, as stated by the Listing Committee on October 3, 2025 [2][3] Group 1: Delisting Decision - The Listing Committee's decision to delist Hong Jiu Fruit is based on incomplete investigations and failure to implement appropriate remedial measures [2] - The company has not demonstrated the integrity, capability, or character of its management, which raises regulatory concerns [3] - Hong Jiu Fruit's board expressed regret over the delisting decision, arguing that the Listing Committee did not adequately consider the evidence submitted by the company [3] Group 2: Criminal Investigations - Chairman Deng Hong Jiu and other key management members are under criminal investigation related to loan fraud and/or issuing false VAT invoices [4][6] - The company has faced operational restrictions since January 6, 2025, due to police investigations, impacting its ability to conduct normal business [6][7] - As of the announcement date, most restrictions have been lifted, allowing the company to gradually resume normal operations, except for the detained executives [7] Group 3: Stock Performance and Investor Impact - Hong Jiu Fruit's stock has been suspended since March 20, 2024, leading to significant losses for investors [9] - The company went public in September 2022 at an issue price of HKD 40, raising a net amount of HKD 497 million, marking it as "China's first fruit stock" [4]
洪九果品将被取消上市地位：涉嫌骗取贷款 董事长邓洪九已被抓