Core Viewpoint - Tianmao Industrial Group Co., Ltd. plans to voluntarily withdraw its A-share listing on the Shenzhen Stock Exchange due to significant uncertainties arising from business restructuring, aiming to protect the interests of minority shareholders [1][6][14] Company Overview - Company Name: Tianmao Industrial Group Co., Ltd. - Stock Listing Location: Shenzhen Stock Exchange - Stock Abbreviation: *ST Tianmao - Stock Code: 000627 - Registered Capital: 494,062.92 million yuan - Business Scope: Import and export of goods, production and sales of chemical products, and sales of building materials [1][4] Historical Background - The company was originally established as Hubei Zhongtian Co., Ltd. and underwent several name changes and capital increases, with the latest total share capital being 494,062.92 million shares [2][3] Financial Performance - Total Revenue for the first nine months of 2024: 3,359,611.86 million yuan, down from 4,969,887.37 million yuan in 2023 - Net Profit attributable to shareholders: -33,310.49 million yuan for 2024, compared to -65,175.85 million yuan in 2023 - Total Assets: 28,515,362.11 million yuan, with a total liability of 24,914,875.13 million yuan, resulting in a debt ratio of 87.37% [5][6] Voluntary Delisting Plan - The company intends to withdraw its A-share listing through a shareholder resolution and will apply to transfer to the National Equities Exchange and Quotations (NEEQ) for management in the delisting section [6][12] - The decision has been approved by the company's board and will be submitted for shareholder approval [7][8] Shareholder Protection Mechanism - A cash option will be provided to dissenting shareholders, allowing them to receive cash compensation for their shares, excluding certain major shareholders [9][10] - The cash option price is set at 1.60 yuan per share, with specific conditions for exercising this option [10][11] Post-Delisting Strategy - After delisting, the company aims to maintain operational stability and protect shareholder rights, with no immediate plans for major asset restructuring or re-listing [12][14] - The company will select a qualified securities firm to manage the transfer of shares in the delisting section [13]

Core Viewpoint - Tianmao Group plans to voluntarily withdraw its A-shares from trading on the Shenzhen Stock Exchange due to significant uncertainties related to its business restructuring, aiming to protect the interests of minority shareholders [1] Group 1: Shareholder Protection Mechanism - The company will provide a cash option to dissenting shareholders as a protective measure, in compliance with the Shenzhen Stock Exchange rules [2] - All A-shareholders, except for specific individuals, will be offered a cash option on their shares, excluding those with restrictions [2][3] - The cash option allows shareholders to receive a cash payment of 1.60 yuan per share, which represents a premium of approximately 10.34% over the last closing price before the board's decision [7] Group 2: Cash Option Implementation - Shareholders must meet specific conditions to exercise the cash option, including transferring shares from margin accounts to regular accounts before the option's implementation date [5][6] - The cash option is not mandatory; shareholders can choose to accept or decline it, maintaining their rights to hold shares [7][8] - The cash option's registration date is set for September 2, 2025, subject to adjustments by the board [6] Group 3: Opinions from Intermediaries - Financial advisors affirm that the company's plan to withdraw from the exchange aligns with regulatory requirements and adequately addresses dissenting shareholders' rights [9] - Legal advisors confirm that the internal decision-making process for the withdrawal has been properly executed and complies with relevant laws [9]

Core Viewpoint - The company, AVIC Industry Finance Holdings Co., Ltd., has decided to voluntarily withdraw its A-shares from the Shanghai Stock Exchange and apply for transfer on the National Equities Exchange and Quotations system, a decision approved by the company's second extraordinary general meeting of shareholders in 2025 [2]. Group 1 - The company has previously disclosed announcements regarding the cash option related to the termination of listing, including the initiation of the cash option application and reminders about the remaining trading days for application [3][8]. - During the cash option application period from April 23 to April 25, 2025, a total of 131,774 securities accounts submitted valid applications, with the total number of shares applied for amounting to 4,134,072,543 shares [4][8]. - The cash option provider, China Aviation Industry Group Co., Ltd., has completed the fund transfer for the cash option to the China Securities Depository and Clearing Corporation Limited, Shanghai Branch, and the share transfer procedures will be processed shortly [4][9].