On November 2, the National Small and Medium-sized Enterprises Share Transfer System issued the tenth risk warning announcement that Runda Photovoltaic Stock will enter the delisting and consolidation period and will be terminated. According to the announcement, Runda Photovoltaic Stock resumed trading on October 21 and terminated its listing on November 4.
The announcement shows that the reason for the termination of the listing of Runda Photovoltaic Stock is that the company did not disclose its annual report for 2025.

Looking back, as early as April this year, Runda Photovoltaic announced that the company's 2025 annual report is not expected to be disclosed before April 30 (inclusive). The company explained that the main reason was that it had not signed an audit engagement letter with the audit institution in 2025 and had not carried out substantive audit work .
Later, due to the delay in disclosing the 2025 performance report, Runda Photovoltaic Stock has been suspended since May 6; By June 8, the National Small and Medium-sized Enterprises Share Transfer System Co., Ltd. had made a decision to downgrade it from the innovative level to the basic level when it was listed in 2015.
By September 9, the Jiangsu Securities Regulatory Bureau issued a warning letter to Runda Photovoltaic and its then Chairman Yan Dong and then Secretary of the Board of Directors Zhang Anle, which was recorded in the integrity files of the securities and futures market. (For details, please click: Annual Report Becomes a Mystery, Photovoltaic Veterans Are Warned in 2017!
So far, the shares of the 17-year old photovoltaic company will be terminated tomorrow due to a delayed "dystocia" 2025 annual report. According to
the data, Runda Photovoltaic Headquarters is located in Yancheng, Jiangsu Province, and was listed on the new third board in May 2015. It is mainly engaged in R & D and production of high-efficiency solar cells and components , construction and operation of photovoltaic power plants, and energy storage system solutions, using N-type TOPCon technology.
The company has three major production bases: the battery base has a capacity of 8GW , and the module base has a capacity of 4GW . The energy storage plant has an annual production capacity of 1G Wh .
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