DELISTING: Regulations mandate that listed firms’ shares be banned from trading if they post negative net value. CPT’s book value came in at minus-NT$0.7 last year
Date: Mar 28, 2019
By: Lisa Wang / Staff reporter
Financially troubled LCD panel maker Chunghwa Picture Tubes Ltd (CPT, 中華映管)
yesterday said that its book value slid into the red last year, pushing the stock to the brink of being delisted from the stock market.
CPT is the second subsidiary of local home appliances maker Tatung Co (大同) to face the imminent risk of having its shares banned from trading in the near future, following Green Energy Technology Inc (綠能科技).
The LCD panelmaker saw losses balloon to NT$17.73 billion (US$574.6 million) in the final quarter of last year, from losses of NT$2.61 billion in the previous quarter, dragged by a persistent industry oversupply and impairment losses from its 26 percent shareholding in CPT Technology Group Co (華映科技).
For the full year, CPT posted losses of NT$19.61 billion, a reversal of net profits of NT$2.99 billion in 2017. [FULL STORY]