A listed company plans to delist! Why?
On November 14, Silian Transportation announced on the National Equities Exchange and Quotations (NEEQ) website that, due to strategic development needs, in order to reduce operating costs, improve operational decision-making efficiency, and more effectively integrate internal and external resources, after careful consideration, it intends to apply for the termination of its stock listing on the NEEQ.
Screenshot from corporate announcement
Regarding the development strategy after delisting, Silian Transportation stated that after delisting, the company will continue to strengthen its management capabilities and improve professional technical levels, promote steady development, and protect the legitimate rights and interests of shareholders.
Sichuan Traffic held the tenth meeting of its third Board of Directors on November 13, 2024, and reviewed and approved the "Proposal on Applying for the Termination of Listing of the Company's Shares on the National Equities Exchange and Quotations (NEEQ)". The aforementioned proposal still needs to be submitted to the third extraordinary general meeting of shareholders in 2024 for deliberation.
Regarding the arrangement for suspension and resumption of trading of shares, Sichuan Traffic mentioned that the company will apply for suspension of trading of its shares starting from the next trading day after the record date for the general meeting of shareholders deliberating on the termination of listing; if the resolution on termination of listing is not approved by the general meeting of shareholders, the company will apply for resumption of trading of its shares within two trading days from the date of announcement of the resolution of the general meeting of shareholders.
According to available information, Sichuan Traffic was established in 2012 and listed on the New Third Board in 2017. It is a state-owned enterprise jointly invested and established by Chongqing Expressway Investment Holding Co., Ltd. and Chongqing Silian Optoelectronics Technology Co., Ltd. Since its establishment, Sichuan Traffic has focused on Energy Performance Contracting (EMC) projects for LED lighting renovation of highway tunnels as its main business, and has successfully implemented lighting renovation projects in more than 300 highway tunnels.
At the same time, it develops related electromechanical control and testing equipment, including low-light solar street lights, tunnel lighting dimming systems, LED active luminous signs, indoor smart lighting systems, intelligent monitoring, warning and control systems for fire water tanks, LED displays, etc.
Screenshot from corporate announcement
In the first half of 2024, Silian Traffic achieved revenue of approximately RMB 30.5974 million, a year-on-year (YoY) increase of 49.96%; net profit attributable to shareholders of the listed company was approximately RMB 9.157 million, a year-on-year (YoY) increase of 31.22%. In 2023, Silian Traffic achieved revenue of approximately RMB 55.0551 million, a year-on-year (YoY) increase of 3.97%; net profit attributable to shareholders of the listed company was approximately RMB 12.9292 million, a year-on-year (YoY) increase of 12.28%.