Core Viewpoint - Tianmao Group plans to voluntarily terminate its stock listing on the Shenzhen Stock Exchange and will provide cash options to eligible shareholders following a resolution passed at the 2025 first extraordinary general meeting [1][12]. Group 1: Termination of Listing - The company is undergoing business restructuring and faces significant uncertainties that may have a major impact on its operations [1]. - The company will apply to terminate its stock listing within fifteen trading days after the shareholders' resolution [1][12]. - Following the termination, the stock will be transferred to the National Equities Exchange and Quotations (NEEQ) for management in the delisting section [1]. Group 2: Cash Option Distribution - Eligible A-share shareholders will receive one cash option for each share held, with a cash option exercise price set at 1.60 yuan per share [2][8]. - The cash options will be distributed based on the number of shares held as of the cash option registration date, excluding shares with restrictions [7][12]. - The cash option exercise period will be announced separately, and trading of the stock will be suspended during this period [10][12]. Group 3: Shareholder Eligibility and Requirements - Shareholders eligible to exercise cash options include all A-share shareholders except for specific entities and individuals with restricted shares [5][12]. - Shareholders must ensure that their shares are not subject to restrictions such as pledges or judicial freezes to be eligible for cash options [6][12]. - Investors holding shares in margin accounts must transfer them to regular accounts before the registration date to exercise cash options [3][10]. Group 4: Cash Option Execution Process - Cash option exercise must be submitted through the Shenzhen Stock Exchange trading system, and manual submissions will not be accepted [8][11]. - The cash option exercise period will be from 9:30 AM to 11:30 AM and 1:00 PM to 3:00 PM on specified dates [8][12]. - Unexercised cash options will be canceled after the exercise period ends [11][12].