Zhejiang Furun Digital Technology (600070.SH) announced that according to the regulations of the first item of Article 9.2.1 of the revised Rules of Listing on the Shanghai Stock Exchange (April 2024), if the daily closing price of a company's A shares listed only on the Shanghai Stock Exchange is lower than 1 yuan for 20 consecutive trading days, the company's stocks may be delisted by the exchange. On June 7, 2024, the closing price of the company's stock was 0.93 yuan/share, which has been lower than 1 yuan for 2 consecutive trading days, implying that the company's stock is at risk of being delisted due to the low stock price.
According to Article 9.6.1, Section Two of the revised Rules of Listing on the Shanghai Stock Exchange (April 2024), the stocks of companies subject to mandatory delisting for trading shall not enter the delisting arrangement period for trading if the closing price of the company's stock is lower than 1 yuan. As of June 7, 2024, the market cap of the company was 472 million yuan.
