Taiwanese Tech Giant Stops Selling After 41 Years! Faces "Delisting Fate," Nearly 40,000 Shares Become Wasted Paper.
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Hua Sheng (3202) has suspended trading since April 7, and if it exceeds six months, it will face delisting risk. The company has been penalized for failing to submit financial reports as required, and approximately 37,628 shareholders' stocks may become worthless. Hua Sheng was founded in 1984 and once held a place in the computer cable market; it is currently seeking accountants to complete its financial reports. Investors need to carefully assess the risks.
Hwa Seng (3202) has ceased trading since April 7.
Attention, investors! A well-established technology company in Taiwan, which has been in operation for 41 years and has a capital amounting to 2.5 billion NTD, has started to cease trading as of today (7). If it continues for more than six months, it may face delisting, and nearly 40,000 shares will turn into worthless paper. Investors need to prepare promptly and carefully assess investment risks.
The OTC Center announced on April 1 that Hwa Seng (3202) failed to announce its financial report for the fiscal year 113 within the required timeframe. According to regulations, trading of its securities in brokerage offices will cease starting April 7. If the listed securities continue to be suspended for six months without resuming, there may be a risk of delisting.
Founded in 1984, Hwa Seng Electronics initially focused on computer cables and was listed on the Taiwan stock exchange in 2005, achieving a global market share of one-quarter by 2009. In light of the cross-industry integration of global markets and the development of blockchain, Hwa Seng Group was established in 2017 to expand its business scope, encompassing integration links across various industries.
In response to the OTC Center's actions, Hwa Seng will actively seek a new accountant to complete the audit and certification of the fiscal year 113 financial report as soon as possible, and further developments will continue to be closely monitored.
Since last November, Hwa Seng Electronics' stock price has dropped by more than 70%, and as of the 2nd, its stock price is only 3.96 NTD, with over 4,448 shares still not traded; failing to submit the financial report within six months will render the shares of 37,628 shareholders worthless.
Investment risks need to be assessed with caution, as fund investments can yield profits or losses. For detailed information, please refer to the prospectus.