What happened
*ST康佳, a company once dubbed the 'color TV champion,' has announced it will ask shareholders to approve a voluntary withdrawal of its A-shares and B-shares from the Shenzhen Stock Exchange. If the delisting goes ahead, the shares would be transferred to the delisting board of the National Equities Exchange and Quotations (NEEQ).
The announcement says trading will be suspended from market open on September 4, 2026, until the Shenzhen Stock Exchange makes its delisting decision, with shares removed within five trading days after that. If shareholders reject the resolution, the company will apply to resume trading from the date the shareholders' meeting outcome is published.
Why it matters
Voluntary delisting is a relatively rare corporate move, and doing so lets the company take its shares off the main board through its own resolution rather than being forcibly removed by regulators. For a former sector leader, this signals a significant shift in its market status.
The planned transfer to the NEEQ delisting board typically means lower trading floor and reduced liquidity, which could affect investors who remain in the stock. The final outcome now depends on the shareholder vote and subsequent exchange procedures.
Key facts
*ST康佳 plans to voluntarily withdraw its A-shares and B-shares from the Shenzhen Stock Exchange via a shareholders' meeting resolution.
The stock will be suspended from trading as of market open on September 4, 2026, and delisted within five trading days after the exchange announces termination.
If shareholders do not approve the delisting, the company will request that trading resume after the shareholders' meeting resolution is announced.
What to watch next
Investors will look to the upcoming shareholders' meeting to see whether the resolution passes, as any rejection would keep the listing intact for now.
If approved, attention will turn to the Shenzhen Stock Exchange's formal order and the exact timing of the move to the NEEQ delisting board.