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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.