拟主动终止上市！这只保险概念股退市渐近

Core Viewpoint - Tianmao Group is approaching delisting as it plans to voluntarily withdraw its A-share listing on the Shenzhen Stock Exchange due to significant uncertainties arising from business restructuring [2][13]. Group 1: Delisting Process - Tianmao Group announced its intention to terminate its stock listing, with a shareholder meeting scheduled for August 25, 2025, to vote on the proposal [2][4]. - The proposal requires approval from more than two-thirds of the voting rights held by shareholders present at the meeting, excluding certain major shareholders and company executives [4]. - A cash option will be provided to eligible shareholders, allowing them to receive cash compensation for their shares at a price of 1.60 yuan per share, with a total potential payout of approximately 2.6 billion yuan if all eligible shares are exercised [5]. Group 2: Financial Performance - Tianmao Group has faced poor financial performance, reporting a revenue of 49.699 billion yuan in 2023, a slight increase of 0.17% year-on-year, but a net loss of 0.652 billion yuan, reversing from a profit of 0.274 billion yuan in 2022 [8][9]. - For the first three quarters of 2024, the company reported a revenue of 33.596 billion yuan, a decline of 18.43% year-on-year, with a net loss of 0.333 billion yuan [8]. - The company anticipates a revenue of 40 to 43 billion yuan for 2024, down from 49.699 billion yuan in 2023, with expected net losses between 0.5 billion and 0.75 billion yuan [8][9]. Group 3: Reporting Issues - Tianmao Group has been unable to release its 2024 financial report, which has contributed to its delisting risk, as the company failed to disclose necessary information by the regulatory deadline [10][12]. - The company has issued multiple risk warnings regarding the potential termination of its stock listing due to the ongoing delays in financial reporting [10][12]. - As of now, the financial report for 2024 remains unpublished, further complicating the company's situation [11].