Core Viewpoint - Tianmao Group's stock price dropped to 3.04 yuan per share, resulting in a total market value of 15 billion yuan due to the announcement of delayed financial reports [1] Group 1: Company Announcement - Tianmao Group announced that it will not be able to disclose its 2024 annual report and 2025 Q1 report on the scheduled date of April 29, 2025, due to the need for further information [1] - The company expressed its commitment to complete the report preparation and apologized for any inconvenience caused to investors [2] - The company is currently operating normally, and the report compilation is ongoing [2] Group 2: Financial Performance - Tianmao Group's subsidiary, Guohua Life Insurance Co., reported a cumulative original insurance premium income of approximately 8.035 billion yuan from January 1 to February 28, 2025 [2] Group 3: Regulatory Context - According to regulations, if a listed company fails to disclose its annual report within the legal deadline, it will face a trading suspension for up to two months [1] - If the company does not disclose the required reports within the suspension period, it may face delisting risk warnings [1]