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Fang Holdings Limited (NYSE: SFUN) announced that its American depositary shares (ADSs) face delisting from the NYSE due to the failure to file its annual report for 2020 and a half-year report for 2021 by the deadline of May 17, 2022. Trading of SFUN was suspended on May 18, 2022. The company has until June 2, 2022, to appeal the delisting decision. Fang is a major real estate internet portal in China, providing marketing and listing services across 658 cities with around 70 local offices.
The NYSE announced that Fang Holdings Limited (ticker: SFUN) will be delisted due to its failure to file necessary reports, including the annual report for the year ended December 31, 2020, and the current report for the half year ended June 30, 2021.
Trading of SFUN's American Depositary Shares (ADSs) will be suspended immediately. The company has the right to appeal the decision, and the NYSE will apply to the SEC for delisting following any appeal process.
Fang Holdings Limited (NYSE: SFUN) received an extension from NYSE Regulation until May 17, 2022, to file its 2020 annual report and 2021 semi-annual report. The NYSE will monitor Fang's progress and failure to meet milestones could lead to early trading suspension. If the delayed filings are not completed within the maximum 12-month cure period, delisting procedures will commence. Fang is a major real estate Internet portal in China, offering various services across 658 cities.
Fang Holdings Limited (NYSE: SFUN) announced significant changes in its leadership effective February 28, 2022. Founder Vincent Tianquan Mo has stepped down as Executive Chairman, with Richard Jiangong Dai appointed as the new Executive Chairman. Mr. Dai has a long history with the company, previously serving as CEO from 1999 to 2014. Additionally, Peng Cui has been appointed as Chief Financial Officer, having served as acting CFO since January 2021. The Board now consists of six directors, including four independent members, aiming for enhanced governance and shareholder value.
Fang Holdings Limited (NYSE: SFUN) announced the results of its 2021 annual general meeting of shareholders held on December 31, 2021. Shareholders approved the appointment of MaloneBailey, LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2020. Fang operates a leading real estate Internet portal in China, providing marketing, listing, and financial services for the real estate and home furnishings sectors. The company maintains approximately 70 offices and covers 658 cities in China.
Fang Holdings Limited (NYSE: SFUN) announced its 2021 annual general meeting to be held on December 31, 2021, in Beijing at 10:00 a.m. The meeting will propose the ratification of MaloneBailey, LLP as the independent accounting firm for the fiscal year ending December 31, 2020. The record date for shareholders entitled to attend is set for December 20, 2021. Fang operates a leading real estate internet portal in China, providing marketing, listing, and financial services across 665 cities, supported by approximately 71 local offices.
Fang Holdings Limited (NYSE: SFUN) announced it received an extension from NYSE to file its 2020 Form 20-F, allowing until April 25, 2022. The NYSE will closely monitor the company's progress in meeting interim milestones, which are necessary to avoid early trading suspension. If the filings are not completed by May 17, 2022, delisting procedures will begin. Fang operates a leading real estate Internet portal in China, covering 665 cities with significant online presence.
Fang Holdings Limited (NYSE: SFUN) announced the appointment of MaloneBailey, LLP as its new independent registered public accounting firm, effective October 25, 2021, replacing KPMG Huazhen LLP. The decision follows a thorough evaluation process by the company's board of directors and audit committee. KPMG's previous audit reports for 2018 and 2019 did not contain adverse opinions, although they noted changes in revenue recognition and accounting methods. Fang operates a major real estate internet portal in China, serving numerous cities.
Fang Holdings Limited (NYSE: SFUN) announced settlement deeds with China Index Holdings and convertible notes holders regarding $84.31 million in convertible notes issued in 2015. The settlement involves repaying half the amount by September 30, 2021, and the remaining by December 31, 2021. A supplemental agreement also requires Fang to repay CIH the same amount by December 31, 2023. This settlement follows a winding-up petition presented against the company in 2020, which triggered the immediate payment of the convertible notes due to shareholder claims.
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