Core Insights - Nohui Health is set to be delisted from the Hong Kong Stock Exchange on October 27, 2023, after failing to meet the resumption guidelines by the September 27 deadline [2][3] - The company has faced significant scrutiny regarding its financial practices, including allegations of revenue inflation and sales authenticity issues [3][4] - The expiration of the National Medical Products Administration registration certificate for its main revenue-generating product, Changweiqing, is approaching on November 8, 2023 [5] Company Overview - Nohui Health was established in Hangzhou, Zhejiang in 2015 and became the first Chinese cancer early screening stock listed on the Hong Kong Stock Exchange in 2021 [3] - The company’s primary product, Changweiqing, received approval for domestic market launch in November 2020, amidst challenges faced by competitors in obtaining clinical product certifications [2] Financial and Market Performance - In August 2023, Nohui Health faced a short-selling report from Capitalwatch, which claimed that the company had inflated its sales revenue by 90% through inventory manipulation [3] - The company had projected its first profitable year in 2023, but subsequent negative developments led to a suspension of its stock and delays in financial reporting [3][4] - As of March 2024, Deloitte refused to endorse Nohui Health's financial statements, raising further concerns about the authenticity of its sales [4] Valuation Adjustments - Multiple fund companies have drastically reduced their valuations of Nohui Health, with some estimating the stock at nearly zero, such as Xinyi Fund and Ping An Fund, both adjusting their valuations to HKD 0.01 per share [6]
诺辉健康下周一退市，成港股18A首家被强制退市的Biotech