Holitech Technology faces delisting risk after warning

Holitech Technology Co., Ltd. (Holitech) has issued its fifth warning regarding the potential delisting of its shares, following the initial risk alert on April 30, 2024. The company's shares were marked with delisting risk on May 6, 2024. The company disclosed that its 2024 accounts are subject to an audit. Based on preliminary estimates, Holitech expects to meet at least one of the delisting requirements. Specifically, the company highlights that its audited net assets at the end of 2023 were negative, triggering the initial risk alert and potentially leading to delisting if its 2024 financial results do not show improvement. The company also faces the risk of adverse audit opinions. The company reminded investors that it will continue to release risk alerts every ten trading days. The company is also currently subject to regulatory review of potential disclosure violations.