Tianmao Group faces potential delisting amid report delay

Tianmao Group (SZSE:000627) faces potential delisting due to delays in disclosing its 2024 annual report and Q1 2025 report. Trading of the company's shares has been suspended since May 6, 2025. According to Shenzhen Stock Exchange rules, if the 2024 annual report is not released within two months of the suspension, the company will be placed under a delisting risk alert. Failure to publish audited annual reports guaranteed by more than half the board members within two months after that would lead to termination of the company's stock listing. Tianmao also disclosed it is under investigation by the China Securities Regulatory Commission for suspected failure to disclose periodic reports on time. The company emphasized it is making its best effort to complete the reports.