Wenyi Group (01802.HK) shares nosedived more than 30% during Hong Kong trading, collapsing to unprecedented lows. At press time, the stock cratered 31.03% to HK$0.04 while turnover registered HK$1.194 million.

This freefall followed the company's late July 15 disclosure of receiving formal notification from Hong Kong Exchanges and Clearing (HKEX). The exchange determined Wenyi Group violated Listing Rule 13.24 by failing to maintain adequate operational scale or sufficient asset backing to justify continued listing. Consequently, share trading faces mandatory suspension under Rule 6.01(3).

Management confirmed reviewing the HKEX letter while conducting urgent consultations with internal teams and external advisors. The company must decide whether to challenge this ruling before the Listing Committee.

Chapter 2B of Listing Rules grants Wenyi this appeal option, requiring submission to the Listing Committee Secretary within seven business days—deadlined at July 24, 2025. Barring such appeal, the suspension hammer falls on July 25, 2025, ending all market activity in the stock. Market watchers now scrutinize whether Wenyi's eleventh-hour deliberations might stave off delisting.