Fortune Sun Faces Trading Suspension on Hong Kong Bourse; Shares Slide 30%

MT Newswires Live

06-16

Fortune Sun (China) Holdings (HKG:0352) received a notice from the Hong Kong Stock Exchange that it failed to maintain sufficient operations under listing rules, according to a June 13 Hong Kong bourse filing.

The bourse concluded that the company's sole property agency business has operated at a minimal scale for over a decade and recorded continued losses, with revenue dropping to 1.4 million yuan in fiscal 2024.

Fortune Sun must re-comply with listing rules and meet any resumption guidance to avoid delisting, according to the filing.

Trading in its shares will be suspended from June 25 unless the company seeks a review of the decision by June 24, the filing said.

Shares of the property company were down about 30% in recent trade on Monday.

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