Taiwan's technology giant announces suspension of sales after 41 years! Facing a "delisting crisis," nearly 40,000 shares have turned into worthless paper.
讀後心得
Hua Sheng (3202) has suspended stock trading since April 7. If the trading is not resumed within six months, it may face delisting risks, affecting nearly 40,000 shares. The company was penalized by the OTC center for failing to timely announce the 113th annual financial report, and its stock price has fallen more than 70% since last November, with the current price only at 3.96 yuan, and over 4,448 shares have not been traded. Investors need to be aware of the risks and make adequate preparations. Hua Sheng plans to actively select an accountant to complete the financial report approval as soon as possible.
The Financial Center reports that Huasheng (3202) has ceased trading since April 7. This established technology company, which has been in operation for 41 years with a capital of 2.5 billion yuan, will face the risk of being delisted if it cannot resume trading within six months, at which point nearly 40,000 shares could become worthless. Investors should prepare promptly and carefully consider investment risks.
The OTC Center announced on April 1 that Huasheng has stopped trading its securities at the brokerage offices since April 7, according to Article 12-1 of the business rules, due to its failure to publish the financial report for the 113th fiscal year within the required timeframe. If the shares remain suspended for six months without resuming trading, there will be a risk of termination of the listing.
Huasheng Electronics was established in 1984, initially focusing on the production of cables for computers and went public in 2005. In 2009, it became the leader in global market share, achieving a remarkable quarter share. In response to the development of the global market, Huasheng established the Huasheng Group in 2017 to expand its business scope, integrating various industries.
In light of the OTC Center's actions, Huasheng stated it will actively choose a new accountant to promptly complete the audit of the 113th fiscal year financial report, and future developments will need to be monitored closely. Since November of last year, Huasheng's stock price has dropped by more than 70%, and as of the 2nd, the stock price is only 3.96 yuan, with over 4,448 shares yet to be traded; if it fails to submit the financial report within six months, it will affect the rights of 37,628 shareholders.
The risks of investment must be carefully assessed, and the public should take responsibility for investment outcomes, reading the relevant prospectus thoroughly before subscription.