Ruixin International (00724.HK) announced that due to the inability to publish this year's interim business performance on August 30, the company's shares will be suspended from 9 a.m. today (2nd) until the publication of the interim business performance.

The group pointed out that due to the weak global economic environment, global tariff protection issues, rising interest rates, rapid progress, development, and intense competition in the industry, combined with its poor financial condition, further affecting the image and confidence of its electronic product business among customers. As of the end of June this year, despite repeated requests to customers, the group has almost received no sales orders. As a result, the total revenue generated during the reporting period has substantially decreased, and the operation has almost come to a halt. Due to the loss of confidence in the group's electronic products by customers, the group faces a high degree of uncertainty in further orders. At the same time, due to the need for substantial investment, the group has not yet begun to develop new businesses for electronic products.

Although the group's electronic product business is facing a high degree of uncertainty, the company has been seeking and exploring business opportunities in Vietnam to enhance its prospects. The company emphasized that there are currently no binding agreements in place regarding commercial opportunities in Vietnam. In addition to improving its financial condition, the group needs to enhance its electronic product business or develop new businesses to ensure it has a sufficient level of business or sufficient value of assets to support its operations. Furthermore, the company is still waiting for shareholder loans to be disbursed in order to prepare a concise comprehensive financial report based on the going concern basis.