On July 25, Jilin Yatai (Group) Co., Ltd. announced that the closing price of the company's stock on July 24, 2024 was 0.98 yuan per share, which was lower than RMB 1 yuan for the first time. According to Paragraph 1 of Rule 9.2.1 of the Rules Governing the Listing of Stocks on the Shanghai Stock Exchange, if the daily closing price of the shares of a listed company that only issues a shares on the Shanghai Stock Exchange is lower than RMB1 for 20 consecutive trading days, the listing and trading of the shares of the company may be terminated by the Shanghai Stock Exchange.
It is understood that the closing price of Yatai Group's stock on June 20, 2024 was 0.99 yuan per share, which was lower than RMB 1 yuan for the first time. On June 21, 2024, the Company disclosed the Prompt Announcement on the Risk of Termination of Listing of the Shares of the Company Due to the Share Price Being Lower than RMB1 (Announcement No.: Lin 2024 — 044). On July 18, 2024, the closing price was RMB0.99 per share, which was lower than RMB1 for the first time. On July 19, 2024, the Company disclosed the First Risk Indicative Announcement on the Possible Termination of Listing of the Shares of the Company Due to the Share Price Being Lower than RMB1 (Announcement No.: Lin 2024 — 068).
Yatai Group's main business includes building materials, real estate development, coal wholesale business, pharmaceutical production and operation, and its non-net profit deduction has been in a state of sustained large losses in the past nine years. In 2023, the company's operating income was 9.3 billion yuan, and the non-net profit loss was about 3.9 billion yuan.
With the risk of face value delisting approaching, Yatai Group is also saving itself.
Changchun City Development Investment Holding (Group) Co., Ltd. intends to increase its shareholding through centralized bidding transactions on the Shanghai Stock Exchange within six months from July 1, 2024, with an increase of no less than 150 million yuan and no more than 300 million yuan.
Yatai Group intends to use its own funds to repurchase the shares of the Company by way of centralized competitive trading, with the repurchase amount not less than RMB30 million and not more than RMB50 million, and the repurchase period shall not exceed three months from the date of approval of the share repurchase plan by the shareholders'meeting of the Company. The repurchase plan has been approved by the third provisional shareholders'meeting of the company in 2024.
