On December 9, Tianrui Cement announced that from 1 P. M. on December 9, 2024, the shares of China Tianrui Group Cement Co., Ltd. (The company) will resume trading.
Tianrui Cement resumed trading in the afternoon and rose to HK $0.61, up more than 1000% from the closing price of HK $0.048 before the suspension.
China Tianrui Cement announced earlier this month that the interim results of 2024 are still to be implemented, and there may be further significant changes and accounting adjustments. Since then, the company has announced that it has appointed Hongliang Consulting and Evaluation Co., Ltd. to carry out relevant evaluation work. Hongliang expects to issue a valuation report on or before December 18, 2024. The Company will endeavor to complete and publish the true and complete interim results for 2024 within two days after receiving the valuation report.
It is reported that China Tianrui Cement plunged 99% on April 9 this year and announced the suspension of trading on that day. Since then, the company announced that controlling shareholder Yu Kuo pointed out that on April 9, the margin securities account was forced to sell about 143 million shares due to an unusual stock price decline, and that it was necessary to clarify whether the forced sale of an additional 10 million shares was properly executed. The company subsequently said that Yu Kuo confirmed that the compulsory sale of 10 million shares had not been properly implemented and had been cancelled.
