Taiwan's technology giant has ceased operations after 41 years, and it faces a crisis of "forced delisting," with nearly 40,000 shares becoming worthless.
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Hua Sheng (3202) has halted trading since April 7. If trading does not resume within six months, it will face the risk of delisting. The company has been suspended from trading by the OTC Center due to its failure to timely announce its financial report for the 113th fiscal year. Hua Sheng was established in 1984, went public in 2005, and achieved a global market share of one-quarter in 2009. The company is currently seeking accountants to complete its financial report audit and encourages investors to be aware of risks and make prudent decisions.
Hua Sheng (3202) has suspended trading since April 7.
Investors beware! This long-established technology giant, founded 41 years ago with a capital of 2.5 billion NT dollars, has suspended trading of its stock starting today (the 7th). If this continues for more than six months, it will face the risk of being delisted, at which point nearly 40,000 shares will become worthless. Investors need to prepare in advance and pay close attention to investment risks.
The OTC Center announced on April 1 that Hua Sheng (3202) failed to announce the 113 annual financial report within the specified time. According to Article 12-1, Item 4 of the OTC Center's business regulations, trading of that security has been suspended since April 7. If the OTC securities remain suspended for six months without resuming trading, there could be a risk of termination of the listing.
Hua Sheng Electronics was founded in 1984, initially focusing on producing cables for computers, and was listed on the Taiwan Stock Exchange in 2005, reaching a global market share of a quarter by 2009. Considering the cross-industry integration and blockchain development in the global market, Hua Sheng established Hua Sheng Group in 2017 to expand its business scope and integrate various industries.
In response to the OTC Center's action, Hua Sheng will actively seek a successor accountant to complete the audit and verification of the 113 annual financial report as soon as possible. Further developments need to be closely monitored.
Since last November, Hua Sheng Electronics' stock price has fallen by more than 70%, with the latest quote at NT$3.96, and over 4,448 shares are still unsold in the market. If the financial report is not submitted within six months, the shares of 37,628 shareholders will become worthless.
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