Aidigong Maternal & Child Health Limited (Stock code: 286) has released a quarterly update on its trading resumption progress. Business operations continue despite the suspension of the company’s shares on the Hong Kong Stock Exchange.

The company has yet to finalize the 2024 annual results and corresponding report, citing ongoing challenges in gathering financial data related to Shenzhen Aidigong and its subsidiaries. Discussions persist with professional advisers to finalize audits, complete an independent forensic investigation, and address an internal control review. The board composition is also under examination to ensure compliance with relevant listing rules.

Recent litigation involves Guangdong Wanjia, a wholly owned subsidiary of Aidigong, and Dongguan Rural Commercial Bank (DRCB). Arbitration proceedings seek repayment of the outstanding principal and accrued interest of approximately RMB11.4 million and RMB12.5 million respectively under a loan agreement dated 31 August 2023. DRCB has also requested an auction or sale of the 94.95% shareholding in Shenzhen Aidigong pledged as collateral for the loan. Aidigong is consulting legal counsel as outcomes remain uncertain.

A group of shareholders has submitted a requisition notice to convene a special general meeting, proposing changes to the company’s board and an independent investigation into the placing of shares, alleged document forgery, and disclosure matters. The company is receiving legal advice on the requisition’s legality and procedural aspects, and will release updates if a meeting is formally convened.

Trading in Aidigong shares on the Hong Kong Stock Exchange remains suspended since 21 February 2025, with resumption targeted once the requisite steps and regulatory requirements are fulfilled. Investors are advised to exercise caution when dealing in the company’s securities.