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On August 25, ST Hanggao (002665.SZ) announced that the company received a decision from the Shenzhen Stock Exchange on August 7, 2024 to terminate the listing of the company's shares. According to relevant regulations,The company's shares will be delisted on August 26, 2024.

The daily closing price of the company's stock is less than RMB 1 for 20 consecutive trading days between May 30, 2024 and June 27, 2024.The situation has been triggered where the stock listing may be terminated.According to the decision of the Shenzhen Stock Exchange, the company's shares will not enter the delisting settlement period and will be delisted within fifteen trading days after the decision to terminate the listing.

The stock price before the suspension was 0.37 yuan per share, and the total market value was 926 million yuan.As of May 20, the number of ST Hanggao’s shareholders was 140,000.

As of August 25, 29 A-share listed companies have delisted this year, all due to reaching the par value delisting situation.

Public information shows that ST Hanggao was established in 2001 and listed on the Shenzhen Stock Exchange in 2012. It is mainly engaged in solar thermal power generation, solar thermal energy storage + multi-energy complementarity, energy storage technology, hydrogen energy utilization, power station air cooling, waste heat power generation, clean heating, seawater desalination and other businesses.

According to ST Hanggao's 2023 annual report, the company's main business is the production and sales of power station air cooling systems and the supply of core equipment for solar thermal power generation. The contract amount of a single project is large, resulting in the company's sales to the corresponding customers being relatively concentrated. Because the amount of a single contract is large, if individual projects are not delivered on time, or if the project is postponed due to customer reasons, the company's operating performance may fluctuate from year to year.

In 2023, the company achieved a total operating income of approximately 894 million yuan, a year-on-year increase of 37.1%;The net profit attributable to shareholders of the listed company was a loss of approximately RMB 316 million, compared with a loss of RMB 255 million in the same period last year.

In the first quarter of 2024, the company achieved operating income of approximately RMB 383 million, a year-on-year increase of 68.27%, mainly due to the increase in air cooling and solar thermal projects in the reporting period compared with the same period last year; the net profit attributable to shareholders of the listed company was a loss of approximately RMB 68.4335 million, compared with a loss of approximately RMB 105 million in the same period last year.