Beijing Tongtech faces delisting threat amid financial misconduct probe

Beijing Tongtech's stock recorded abnormal fluctuations, with its closing price falling over 30% across two consecutive trading days (September 17-18, 2025). This comes as the company faces an investigation by the China Securities Regulatory Commission (CSRC) for suspected false records in its 2019-2022 annual reports and fraudulent issuance of shares in 2022. The CSRC has issued a preliminary notice, indicating the company may meet conditions for forced delisting due to major violations.

The company's stock has been under a delisting risk warning since September 15, 2025. Beijing Tongtech has committed to fully cooperate with the CSRC investigation, with the final outcome pending the CSRC's official decision. Should the formal conclusion confirm major violations, the company’s shares will be terminated from listing.

In a related development, Huang Yongjun, the company's actual controller and chairman, announced the full unpledging of his 19,600,000 shares. These shares, representing 47.80% of his total holdings and 3.51% of the company's total share capital, were previously pledged to two small loan companies. The unpledging was completed between September 16-17, 2025.