SUN KONG HLDGS (08631.HK): Receives resumption guidance from HKEX; trading remains suspended, delisting risk if not resumed by July 2027
NewTimeSpace News: On 27 August 2026, Sun Kong Holdings Limited (stock code: 08631) announced that it received a letter from the Stock Exchange of Hong Kong Limited (HKEX) on 24 August 2026 setting out guidance for the resumption of trading in its shares. Trading in the Company's shares has been suspended since 9:00 a.m. on 2 July 2026, pending the publication of the annual results for the year ended 31 March 2026.
According to the announcement, the resumption guidance includes: publishing all outstanding financial results required under the GEM Listing Rules and addressing any audit modifications; conducting an appropriate independent forensic investigation into the loss of control over certain subsidiaries, the related non-compliance identified and the disposal of those subsidiaries; demonstrating that there are no reasonable regulatory concerns regarding the integrity, competence and/or character of management; engaging an independent internal control adviser to conduct a review and demonstrate that material deficiencies have been rectified; demonstrating compliance with GEM Rule 17.26; and informing the market of all material information for shareholders and other investors to assess the Company's position.
Under GEM Rule 9.14A(1), the Exchange may cancel the listing of any securities that have been suspended from trading for 12 consecutive months; in the Company's case, this 12-month period expires on 1 July 2027. The announcement cautioned that if the Company fails to remedy the issues causing its suspension, satisfy the resumption guidance and resume trading by 1 July 2027, the Listing Division will recommend that the Listing Committee proceed with the cancellation of the Company's listing; the Exchange may also impose a shorter specific remedial period or cancel the listing immediately where appropriate.
The Company will use its best efforts to satisfy the resumption guidance, remedy the issues causing its suspension and resume trading as soon as practicable, and will publish quarterly updates under GEM Rule 17.26A. The suspension of trading will continue until further notice, and the Company reminded shareholders and prospective investors to exercise caution when dealing in the Company's shares.
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