Hainan Poly Pharm: Delisting risk and reporting delay

Hainan Poly Pharm (SZSE:300630) is facing imminent delisting, commencing trading in the delisting arrangement period on April 28, 2025, with an estimated final trading date of May 21, 2025. This follows a China Securities Regulatory Commission (CSRC) penalty decision related to material illegalities. The company failed to disclose its 2024 annual report and 2025 first-quarter report within the statutory deadline due to unresolved accounting discrepancies and personnel shortages. The Shenzhen Stock Exchange (SZSE) will delist the company's stock and convertible bonds after the delisting arrangement period, which will span fifteen trading days with a restricted daily price fluctuation of 20%. The company assures investors it will not undertake any major asset restructuring during this period and informs current shareholders they may be unable to trade when the firm moves to delisted status.