CHABAIDAO (02555.HK): SFC Orders Trading Suspension, Citing Possible Manipulation of Its IPO
- The SFC directed the Stock Exchange on 13 October 2026 under Rule 8(1) of the Securities and Futures (Listing) Rules to suspend trading in the Company's H shares from 9:00 a.m. that day, until further notice.
- The SFC said it is concerned the Company's IPO may have been manipulated to create an appearance of demand for the shares; the Company is urgently seeking legal advice and undertakes to cooperate fully with the SFC.
- The Company confirmed the Group's business operations remain normal with no material change as at the announcement date, and will publish further announcements as appropriate.
NewTimeSpace News: Sichuan Baicha Baidao Industrial Co., Ltd. (stock code: 02555) announced on 14 October 2026 that the Board noted that the Securities and Futures Commission had on 13 October 2026, pursuant to Rule 8(1) of the Securities and Futures (Listing) Rules, directed the Stock Exchange to suspend trading in the Company's H shares from 9:00 a.m. on 13 October 2026. The SFC stated that it is concerned that the Company's initial public offering may have been manipulated to create an appearance of demand for the shares.
The Board said it attaches great importance to the matter and firmly believes that observing all applicable laws and regulations of the Company is of paramount importance, and is urgently seeking legal advice on the directive and will endeavour to address and resolve the matters on which the SFC has concerns. The Company undertakes to cooperate fully with the SFC on any concerns it raises and will publish further announcements as and when appropriate. The Company confirmed that the business operations of the Group remain normal and that there has been no material change in the business operations of the Group as at the date of the announcement.
Pursuant to the SFC's directive, the Stock Exchange has suspended all trading in the shares from 9:00 a.m. on 13 October 2026 and will continue to suspend trading until further notice. Shareholders and potential investors of the Company should exercise caution when dealing in the shares of the Company.
