Biocause Pharma(SZ:000627) IPO日报·2025-09-26 10:45Core Viewpoint - The company *ST Tianmao has been delisted from the Shenzhen Stock Exchange due to continuous financial losses and has initiated a voluntary delisting process, which took approximately two months to complete [1][2][4]. Summary by Sections Delisting Announcement - On September 25, *ST Tianmao received a decision from the Shenzhen Stock Exchange to terminate its stock listing, effective within five trading days [1][2]. - The company will not enter a delisting transition period as it voluntarily chose to delist [2]. Company Background - *ST Tianmao was established in November 1993 and listed on the Shenzhen Stock Exchange in November 1996, primarily engaging in various life and health insurance businesses [4]. Financial Performance - The company's financial performance has deteriorated for four consecutive years, with significant losses in the last two years [5]. - From 2020 to 2023, the net profit attributable to shareholders decreased by 67.32%, 18.88%, 41.78%, and 337.82%, respectively [5]. - In 2023, the company reported a net loss of 650 million yuan, and for the first three quarters of 2024, the loss was 333 million yuan [5]. - A forecast for 2024 indicated expected losses between 500 million to 750 million yuan [5]. Delisting Process - The entire delisting process took about two months, starting from the initial announcement of voluntary delisting on August 8 [2][4]. - Prior to the delisting, the company had issued multiple risk warnings regarding the potential for termination of its listing [6]. Industry Context - Since 2025, a total of 25 companies, including B-share companies, have completed the delisting process, with various reasons including financial issues and voluntary delisting [6].