On March 15th, Yihua Life issued an announcement that in accordance with the Shanghai Stock Exchange Stock Listing Rules (Revised in 2020) and the Shanghai Stock Exchange’s arrangements, the Shanghai Stock Exchange will release the company’s shares on March 22, 2021. It was delisted and the company's stock was terminated from listing.

According to the review, it has been involved in 128 lawsuits and 203 judicial cases. The statistical analysis of the judgment documents shows that among the civil cases involved, there are 68 cases of disputes over the sale and purchase contract.

Looking back, we can see that from January 19 to February 22 this year, the daily closing price of Yihua Life for 20 consecutive trading days was lower than RMB 1 yuan. As a result, Yihua Life became the first "1 yuan delisting" stock under the new delisting regulations.

On January 29, the China Securities Regulatory Commission announced the results of its investigation into Yihua Life. The investigation revealed that the company’s regular reports from 2016 to 2019 contained serious false records: one was to inflate profits by more than 2 billion yuan through fictitious sales and inflated sales; the other was to inflate bank deposits through forged bank documents80 more than 100 million yuan; thirdly, it failed to disclose more than 30 billion yuan of capital transactions with related parties in accordance with regulations.

Yihua Life was established on May 31, 2001, with a registered capital of approximately RMB 1.48 billion. Its legal representative is Liu Zhuangchao. Its business scope includes: the purchase and production of logs for own use required by the company’s production, and operations that do not involve national import and export quotas and permit-managed decorative wood products and wood components and other deep-processed wood products; soft furniture, integrated cabinets and wardrobes, etc. At present, its major shareholder is Yihua Enterprise (Group) Co., Ltd., holding 29.02%; Shantou Yahua Investment Partnership (Limited Partnership) holds 70.98%.