Century Sunshine Group Holdings Limited reported that key steps toward trading resumption have yet to be completed, leaving its shares suspended since 1 April 2025. The exchange has set five conditions: publication of all outstanding 2024–2025 financial statements, demonstration of sufficient operations under Listing Rule 13.24, restoration of board and committee composition, compliance with board diversity requirements, and full market disclosure of material information.
Audit and Financial Reporting • Alternative audit procedures for missing confirmations have satisfied the external auditor. • Finalisation of the 2024 Annual Results, 2024 Annual Report, 2025 Interim Results, 2025 Interim Report, 2025 Annual Results and 2025 Annual Report remains in process. • Completion depends on information related to (i) the liquidation of Jiangxi Tianrui, and (ii) litigation and land-use-right issues involving subsidiary Shandong Hongri.
Key Subsidiary Developments 1. Jiangxi Tianrui: Both management and auditor agree that deconsolidation is appropriate, as the entity ceased operations in prior years; the move is not expected to have a material operational impact. 2. Shandong Hongri: – Administrative Ruling: A retrial request has been accepted by China’s Supreme People’s Court challenging a second-instance ruling that upheld the “Agreement of Relocation to Parks from City.” – Land-Use-Rights Auction: Proceedings are on hold after Shandong Hongri contested the valuation and sought a stay. The company continues legal measures to protect stakeholder interests.
Listing Rule Compliance Gaps • The company still lacks a female independent non-executive director, breaching Rules 3.10(1), 3.21, 3.27A and 13.92. • Ongoing geopolitical tensions and the trading suspension have hampered recruitment, and no timetable for rectification was provided.
Operational Update • Fertiliser segment remains constrained by liquidity pressure stemming from the unresolved relocation agreement, with production largely maintained via brand licensing. • Magnesium products segment continues normal operations.
Trading Status The Hong Kong Stock Exchange will keep Century Sunshine’s shares suspended until all resumption guidance conditions are met and full compliance with listing rules is demonstrated. Shareholders and potential investors are urged to exercise caution when dealing in the company’s securities.