Zhitong Financial App News, Honghai Holdings Group (08020) announced that on the evening of August 14, 2023, the directors of the company received a number of open e-mail letters from several shareholders of the company to the GEM listing Committee and listing Review Committee of the Stock Exchange.
According to the open letter, the shareholders first briefly summarize the relevant responses and opinions of the Board of Directors to the decision of the GEM listing Committee relating to the Company's dry bulk shipping and logistics services business and IP automation and entertainment business as set out in the announcement of the Company dated 10 July 2023.
According to the relevant information, shareholders said that the company's existing business is by no means an insufficient level of business operation as stated by the GEM listing Committee. Shareholders have reached the same conclusion as the Board that the company is currently carrying out a sufficient level of business operations and assets of sufficient value to support its operations to ensure that it will continue to be listed on the Stock Exchange in accordance with Rule 17.26 of the GEM listing rules.
The company welcomes shareholders' recognition of the growth and improvement of its financial and operating performance profitability, the successful diversification and expansion of the Group's business, and the development of a sustainable and viable business model. At the same time, the company believes that the spontaneous behavior of shareholders further shows that delisting is not in line with the best interests of existing shareholders. Therefore, the company hopes that, in addition to delisting, the listing Review Committee can also consider options that bring the best interests to the company's shareholders and even public investors.
The Board will submit its views to the listing Review Committee during the hearing and at the same time indicate that it disagrees with the decision of the GEM listing Committee. The company will do its utmost to protect the interests of shareholders and promote the resumption of trading in the company's shares.