Century Sunshine Group Holdings Limited released its quarterly resumption progress report on 30 September 2026, outlining the steps still required to satisfy Hong Kong Stock Exchange (HKEX) guidance and lift the suspension in the company’s shares that has been in place since 1 April 2025.
Key Points
1. Resumption Guidance • HKEX requires Century Sunshine to: – Publish all outstanding 2024–2026 financial statements and address any audit modifications. – Demonstrate compliance with Listing Rule 13.24 (sufficient operations or assets). – Re-comply with board composition and corporate governance rules 3.10(1), 3.21, 3.27A and 13.92. – Disclose all material information to the market.
2. Outstanding Financial Results • Finalisation of the 2024 and 2025 annual results, as well as the 2025 interim and 2026 interim reports, remains in progress. • Two unresolved matters are delaying the audit: – Liquidation of subsidiary Jiangxi Tianrui; an independent liquidator appointed by the Jiangxi Ruichang Court is completing the process. Both the auditor and the company will deconsolidate the subsidiary; no material operational impact is expected because Jiangxi Tianrui ceased operations in prior years. – Legal and valuation issues at Shandong Hongri, including an administrative ruling appeal and the halted auction of its land-use rights.
3. Shandong Hongri Legal Proceedings • Administrative Ruling: The Supreme People’s Court accepted a retrial, with a hearing held on 18 September 2026; no judgment has yet been delivered. • Land-Use Rights Auction: Shandong Hongri challenged the appraisal and obtained a stay; the auction is currently on hold.
4. Board and Governance Compliance • The company still lacks a female independent non-executive director, preventing compliance with Listing Rules 3.10(1), 3.21, 3.27A and 13.92. Tight labour supply, Sino-US trade tensions and the prolonged trading suspension are cited as obstacles to recruitment.
5. Operating Update • Fertiliser segment performance remains weak because unresolved government relocation obligations restrict financing and production; operations are currently sustained mainly through brand licensing. • Magnesium products segment continues “as usual in material respects” despite the trading suspension.
6. Change of Hong Kong Office • Effective 1 October 2026, the head office and principal place of business moves to Level 17, Silvercord Tower 2, 30 Canton Road, Tsim Sha Tsui, Kowloon. Telephone and fax numbers are unchanged.
7. Suspension Status • Trading in Century Sunshine shares (Stock Code 00509) will remain suspended until all resumption conditions are met and HKEX is satisfied with full Listing Rules compliance.
The board stated that further announcements will be issued as necessary to keep shareholders and potential investors informed of progress.