Fiber optic manufacturer Tianjin Futong Information Science&Technology Co.,Ltd. has announced that the Shenzhen Stock Exchange has decided to terminate the company's stock listing, and the company's stock will be delisted on August 12, 2024.
In the announcement, Tianjin Futong Information stated that the company's stock will not enter the delisting arrangement period for trading. After the company's stock is delisted, it will be transferred to the delisted section managed by the National Equities Exchange and Quotations (NEEQ).
Previously, on August 1, Tianjin Futong Information received the "Decision on Termination of Listing of Tianjin Fortune Information Technology Co., Ltd. Stock" from the Shenzhen Stock Exchange.
It is reported that the reason for the termination of the listing is that from May 20, 2024, to June 17, 2024, the daily closing price of Tianjin Futong Information's stock was below 1 yuan for twenty consecutive trading days through the Shenzhen Stock Exchange trading system, triggering the stock termination listing condition stipulated in the "Stock Listing Rules (2024 Revision)" of the Shenzhen Stock Exchange.
According to the financial report, in 2023, Tianjin Futong Information achieved a total operating income of approximately 298 million yuan, a year-on-year decrease of 77.61%; and a net profit loss attributable to shareholders of the listed company of approximately 228 million yuan, a year-on-year decrease of 1895.13%.
Tianjin Futong Information has been suspended from trading since June 18, with the stock price at 0.37 yuan per share before the suspension. The stock had previously experienced a continuous 30-day decline limit, with a delisting market value of 447 million yuan.