HK Stock Market Move | C TRANSMISSION (00658) falls nearly 15% with several directors resigning recently. It is expected that the publication of the 2025 annual performance will be delayed.

C TRANSMISSION (00658) fell nearly 15%, as of the time of writing, down 14.84% to HK$1.55 with a turnover of HK$7.4854 million. On the news front, on March 24th, C TRANSMISSION announced that the board of directors received the resignation letter from Hu Yueming, who resigned as an executive director and authorized representative with immediate effect. In addition, Ye Xingming resigned as a non-executive director, and Jiang Jianhua resigned as an independent non-executive director due to significant disagreements with the current directors. To fill the vacancy left by Hu Yueming, Li Zubin has been appointed as the new authorized representative. Furthermore, last month, C TRANSMISSION announced the proposal to remove Guo Wei as the company's auditor, pending the resolution's passage, and proposing the appointment of Bai Chun as the company's new auditor. According to Bai Chun's audit plan, the audit work for the company's 2025 financial statements could be completed as early as the end of May. Therefore, the company will not be able to comply with the listing rules to release financial information as scheduled, and trading of shares will be suspended from April 1st.