Taiwan's 41-year-old veteran technology company exits the market! It may face "compulsory delisting," and nearly 40,000 shares have turned into waste paper.
讀後心得
Huasheng Electronics (3202) has suspended stock trading since April 7. If this situation lasts more than six months, it will face delisting risks. The company failed to announce its financial reports for the 113th year on time, and the Over-the-Counter Securities Exchange has dealt with it according to regulations. Huasheng was established in 1984 and was listed in 2005, at one point holding a quarter of the global market share. Its current stock price has dropped over 70%, with more than 4,448 shares remaining untraded. Investors need to closely monitor the subsequent developments.
Huaseng (3202) has suspended trading since April 7. This long-established technology company, founded in Taiwan 41 years ago with a capital of 2.5 billion yuan, is now facing significant challenges. If trading does not resume for over 6 months, its nearly 40,000 shares may become worthless. Investors need to prepare as soon as possible and carefully assess investment risks.
The OTC Center announced on April 1 that Huaseng has suspended trading of its securities since April 7 due to its failure to announce the financial report for the 113th fiscal year within the specified deadline. According to business rules, if trading of OTC securities is suspended for a continuous period of 6 months and does not resume, there will be a risk of delisting.
Huaseng Electronics was established in 1984, initially focusing on manufacturing wires for computers, and was listed in Taiwan in 2005. In 2009, it achieved a global market share of one-quarter. In response to changes in the global market and the development of blockchain, the Huaseng Group was established in 2017 to diversify its business.
In light of the actions taken by the OTC Center, Huaseng will actively seek a new accountant to complete the audit and certification of the 113th fiscal year financial report as soon as possible, with ongoing situations needing continuous attention.
Since last November, Huaseng Electronics' stock price has fallen by more than 70%, and as of the 2nd, the stock price is only 3.96 yuan, with over 4,448 shares still pending sale. If the financial report is not submitted within 6 months, it will affect the rights of 37,628 shareholders.
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