Deppon's delisting approved, will be removed from the exchange on March 31

Debang Co., Ltd. announced on the evening of March 25 that the Shanghai Stock Exchange agreed to the company’s voluntary withdrawal of its stocks from trading on the exchange, and also decided to terminate the listing of the company’s stocks.

According to relevant regulations, Debang Co., Ltd. stocks will not enter the delisting adjustment period for trading, and the company’s stocks will be terminated from listing and delisted on March 31.

Debang Co., Ltd. is the first company in the A-share market to disclose a proposed voluntary delisting plan in 2026. The company’s stocks have been suspended from trading since January 21. Data from Wind shows that as of the close on January 20, the company’s stock price was 18.85 yuan/share, with a market capitalization of 19.1 billion yuan.

The announcement stated that according to Article 9.7.11 of the “Shanghai Stock Exchange Stock Listing Rules,” voluntarily delisting stocks will not enter the delisting adjustment period for trading. The Shanghai Stock Exchange will delist the company’s stocks within five trading days after announcing the decision to terminate the listing of the company’s stocks. Therefore, the company’s stocks will not enter the delisting adjustment period for trading.

Debang Co., Ltd. stated that after the termination of listing, it will transition to the national small and medium-sized enterprise share transfer system, relying on the original securities company’s agency share transfer system for establishment and management of two-network companies and delisted company sectors.

Regarding the reasons for the termination of listing, Debang Co., Ltd. announced on the evening of January 13 that it was to better align with the development trends of the logistics industry and more efficiently and effectively coordinate and integrate logistics resources within the JD Logistics system, while also considering the commitment made by its indirect controlling shareholder JD Zuo Feng regarding competition when acquiring Debang Co., Ltd.

Industry insiders believe that Debang’s voluntary delisting is not an isolated decision but a key move in the integration of the JD logistics sector. This delisting not only concerns the adjustment of Debang’s own development path but also marks a new phase in the “JD system” integration of Debang Express, Dada, and Kuaixun Express, reflecting that the domestic express delivery industry is bidding farewell to fragmented competition and entering a new pattern of large-scale group operations.

Source: China Securities Journal, Securities Times, Dahe Financial Cube