Taiwan's tech giant stops selling after 41 years, potentially facing the risk of "forced delisting," with nearly 40,000 shares turning into worthless paper.
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Hua Sheng (3202) has suspended trading since April 7 due to the failure to announce the financial report for 113 years as required. If trading does not resume within six months, it may face delisting, affecting approximately 37,628 shareholders. Hua Sheng was established in 1984, went public in 2005, and achieved a global market share of one-quarter in 2009. The company is actively seeking accountants to complete the audit of its financial reports, and subsequent progress needs to be closely monitored. Investors should carefully assess the risks.
The Financial Center reports that Hwa Sheng (3202) has suspended trading since April 7. This well-known technology company, established 41 years ago with a capital of 2.5 billion yuan, officially halted trading today. If trading does not resume within six months, it will face the risk of being delisted, potentially causing nearly 40,000 shares to become worthless. Investors must prepare promptly and cautiously assess investment risks.
According to the announcement by the OTC Center on April 1, Hwa Sheng has suspended trading of its securities with brokerages since April 7 due to its failure to file the 113th fiscal year's financial report within the stipulated time. If the trading suspension lasts for six full months without resuming, it may lead to the termination of its listing qualification.
Hwa Sheng, founded in 1984, was initially known for producing wire used in computers. It was listed on the Taiwan Stock Exchange in 2005 and achieved a global market share of one-quarter by 2009. In response to changes in the global market, Hwa Sheng Group was established in 2017 to expand its diverse business into various fields.
In light of the measures taken by the OTC Center, Hwa Sheng stated that it will actively choose a new accounting firm to complete the audit and certification of the 113th fiscal year's financial report as soon as possible, and will continue to monitor the relevant progress. Since last November, Hwa Sheng's stock price has dropped by more than 70%, with the price only at 3.96 yuan as of the 2nd, and over 4,448 shares still pending transaction. If it fails to submit the financial report within six months, it could impact the rights of 37,628 shareholders.
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