Fujian Zitian Media Technology Co Ltd halts trading in Shenzhen

Fujian Zitian Media Technology Co Ltd halts trading in Shenzhen

Fujian Zitian Media Technology Co., Ltd. (XSEC:300280), listed on the Shenzhen Stock Exchange, has halted its trading activities, effective July 20, 2025, following a potential delisting warning issued by the company on May 18, 2025 [1]. The trading halt comes amidst ongoing investigations by the securities regulator, as the company announced on May 6, 2025 [2].

The halt in trading was preceded by a series of financial and operational developments. In December 2022, the company was dropped from the S&P Global BMI Index [3]. Since then, the company has reported earnings results for various periods, including the nine months ended September 30, 2024 [4]. Despite these financial disclosures, the company's trading status remains uncertain, with the recent halt indicating potential regulatory concerns.

Fujian Zitian Media Technology had previously been involved in several significant transactions. In July 2023, the company signed an agreement to acquire Fujian Wandou Jianjian Network Technology Co., Ltd. for CNY 1.4 billion [5]. However, this acquisition was later canceled in October 2023 [6]. The company has also experienced changes in its financial outlook, with funding announcements and earnings reports reflecting varying levels of financial health.

The trading halt and potential delisting warning highlight the volatility in the company's financial status and the need for investors to closely monitor its ongoing developments. As the company navigates regulatory scrutiny and financial challenges, the future of its trading status remains uncertain.

References:
[1] https://www.marketscreener.com/news/fujian-zitian-media-tech-s-trading-to-halt-pending-potential-delisting-ce7c5cdfda80f025
[2] https://www.marketscreener.com/news/fujian-zitian-media-tech-s-trading-to-halt-pending-potential-delisting-ce7c5cdfda80f025
[3] https://www.marketscreener.com/news/fujian-zitian-media-tech-s-trading-to-halt-pending-potential-delisting-ce7c5cdfda80f025
[4] https://www.marketscreener.com/news/fujian-zitian-media-tech-s-trading-to-halt-pending-potential-delisting-ce7c5cdfda80f025
[5] https://www.marketscreener.com/news/fujian-zitian-media-tech-s-trading-to-halt-pending-potential-delisting-ce7c5cdfda80f025
[6] https://www.marketscreener.com/news/fujian-zitian-media-tech-s-trading-to-halt-pending-potential-delisting-ce7c5cdfda80f025