Hubei Biocause faces trading halt over delayed financials

Hubei Biocause Pharmaceutical [SZSE:000627] will halt trading of its shares effective May 6, 2025, after failing to release its 2024 annual report and first-quarter results for 2025 by the statutory deadline. The company said the delay is due to the need for further verification and refinement of information contained in the reports. The Shenzhen Stock Exchange (SZSE) could issue a delisting risk warning if the filings are not made within two months. Moreover, if more than half of the company's directors fail to guarantee the truthfulness, accuracy, and completeness of the annual report within that same period, the SZSE may terminate the listing of the company's shares. Separately, the company announced that it completed its initial share repurchase program, buying back 36,490,000 shares, representing 0.7386% of the total share capital, at a total cost of CNY 99,982,600.00. The highest transaction price was CNY 2.74 per share, with the lowest being CNY 2.74 per share.