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Hengli Industrial Development Group will be delisted from the Shenzhen Stock Exchange on July 16.
Trading of the automotive air conditioner manufacturer's stock will resume on June 25 and enter a 15-day delisting consolidation period, according to a Thursday filing with the Shenzhen bourse.
The delisting decision was based on the company's 2023 audited net loss, revenue below 100 million yuan, and failure to disclose its 2024 annual report.
Hengli Industrial Development Group on May 7 received a delisting notice from the Shenzhen Stock Exchange for failing to submit its 2024 annual report by the legal deadline.
The automotive air conditioners manufacturer had been under delisting risk warning since May 2024 due to incurring a net loss and reporting revenue below 100 million yuan in 2023, according to a Thursday filing with the Shenzhen bourse.
The company has five trading days to request a hearing or 10 days to submit a defense.
The Shenzhen Stock Exchange decided to suspend Hengli Industrial Development Group starting Tuesday, according to an April 30 bourse filing.
The Chinese automotive air conditioners manufacturer was suspended because it failed to disclose the 2024 annual report and first-quarter report within the statutory deadline, the filing said.
The company has been receiving delisting warnings since January.
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