ST Hualing Xingma faces delisting risk amid restructuring

*ST Hualing Xingma Automobile Group (SSE:600375) has issued its fifth risk warning regarding the potential delisting of its shares, as its 2023 audited net assets attributable to shareholders were negative, triggering a delisting risk alert on April 1, 2024. While restructuring has been approved by the court and is in progress, the company's future hinges on meeting the Shanghai Stock Exchange's conditions for removing the delisting risk. The company's shares may be delisted if it fails to meet these requirements or fails to apply for the removal of the risk warning within the prescribed period. As part of the restructuring, the company has completed the transfer of 515,385,607 shares to restructuring investors. It has also applied to transfer 45,663,131 shares to creditors to settle debts. The company estimates a profit for 2024 and projects positive net assets, but reminds investors that these figures are preliminary and unaudited. The company is urging investors to exercise caution and stay informed via official announcements. The company has been going through a restructuring approved in December 2024.