Core Viewpoint - Chongqing Hongjiu Fruit Co., Ltd. ("Hongjiu Fruit", 06689.HK), known as the "first fruit stock," is set to be delisted from the Hong Kong Stock Exchange after failing to resume trading for over a year and a half [1][4]. Group 1: Company Overview - Hongjiu Fruit was established in 2002, focusing on high-end imported fruits and high-quality domestic fruits through a comprehensive digital supply chain [2][6]. - The company was listed on the Hong Kong Stock Exchange in September 2022, reaching a peak market capitalization of HKD 67 billion [3][7]. Group 2: Financial Performance - In March 2024, Hongjiu Fruit was suspended from trading due to its inability to disclose financial reports on time, with a market value of approximately HKD 2.795 billion at the time of suspension, reflecting a decline of over 95% from its peak [3][7]. - As of the end of 2023, the company reported a prepayment balance of approximately CNY 4.47 billion, with significant payments made to new suppliers lacking historical transaction records [3][7]. Group 3: Legal and Regulatory Issues - In April 2025, the company announced that its chairman and others were under criminal investigation for loan fraud and issuing false VAT invoices, leading to operational restrictions at its headquarters [4][8]. - The company has multiple legal issues, including 39 enforcement actions totaling over CNY 80 million and 10 instances of being untrustworthy, with a total amount involved of nearly CNY 1 million [8].
“水果第一股”洪九果品将退市，已停牌超过一年半