On April 2, Hong Kong stocks experienced a rare wave of suspensions. More than 60 Hong Kong stock companies issued suspension notices, mainly because they were unable to announce their 2023 results before the end of March.
The Zhitong Finance App learned that on April 2, Hong Kong stocks experienced a rare wave of suspensions. More than 60 Hong Kong stock companies issued suspension notices, mainly because they were unable to announce their 2023 results before the end of March. These include Jinshan Energy (00663), Coolpad Group (02369), Qihe Environmental Protection (00976), etc. According to the Hong Kong Stock Exchange listing regulations, companies that ended at the end of December last year must announce their results on or before March 31 this year; otherwise, they will face suspension of trading.
Specifically, Jinshan Energy announced that trading of the company's shares has been suspended on the Stock Exchange since 9:00 a.m. on April 2, 2024, pending publication of the company's 2023 annual results.
Coolpad Group announced that in response to the company's request, trading of the company's shares will be suspended on the Stock Exchange from 9:00 a.m. on April 2, 2024 (Tuesday) until the publication of the 2023 annual results.
Qi He Environmental announced that trading of the company's shares will be suspended on the Hong Kong Stock Exchange Limited from 9:00 a.m. on April 2, 2024, pending the company's announcement of the 2023 annual results.
In addition, listed companies that had to be suspended from April 2 due to failure to announce their 2023 full-year results as scheduled include Wanka (01762), Contemporary Real Estate (01107), China Hengtai Group (02011), Dayang Group (01991), Huisen Home (02127), Zhifeng Industrial Electronics (01710), Guowei Holdings (02239), Hilong Holdings (01623), Sanbao Technology (01708), Rongke Holdings (02323), and Jiurong Holdings (023) 58), TATA Health (01255 ), Jiyi Holdings (01495), Weineng International (01608), Huading Holdings (03398), Jixing New Energy (03395), Hengda Group Holdings (03616), China International (01064), Dingfeng Group Automobile (06878), Qi He Environmental Protection (00976), China Smart Energy (01004), Qishida (06918), Taihe Holdings (00718), Taihe Holdings (00620), Datang West (00620) Jianzhong Construction (00589), Fangyuan Life Service (09978) ), Jingji Smart Culture (00550), Saint Martin International (00482), China Construction Fortis (00138), Zhengshang Industrial (00185), Jinao International (00009), Pujiang International (02060), Xianji Enterprise Group (00176), Pegasus Medical-B (09996), etc.
It is worth noting that housing enterprises are the “hardest hit area” of the suspension of Hong Kong stock trading this time. Modern Real Estate (01107), Hengda Group Holdings (03616), Dexin China (02019), Yida China (03639), Shangkun Real Estate (06900), Zhengshang Industrial (00185), Jinao International (00009), and Tianan (00028) all issued suspension notices due to failure to disclose their results as scheduled.
Taking into account companies that have been suspended for a long time, close to 100 Hong Kong listed companies disclosed the need to postpone the release of their results in the past month.
Generally speaking, Hong Kong stock listed companies will only be delisted after 18 months of continuous suspension. Therefore, for most Hong Kong stock companies that have not published their annual reports, there is still a long time and procedure until delisting. “However, a prolonged suspension of trading may raise the risk of delisting.” An analyst suggested.