Nasdaq Halts Trading in TJGC After Seeking Additional Information Following SEC Order’s Expiry
Key Facts
Nasdaq halted trading in shares of TJGC Group Limited on October 29 pending the company’s response to a request for additional information, according to a Reuters report published via Investing.com. Trading will remain suspended until the company satisfies the exchange’s request, the report said; Nasdaq did not specify what information it wants. The decision came after a separate suspension order issued by the U.S. Securities and Exchange Commission (SEC) expired on the evening of October 28. The company has thus moved from a time-limited regulatory suspension to a Nasdaq trading halt tied to fulfilling a request whose scope has not been disclosed. Nasdaq gave no detailed reason for the new request, so the decision by itself does not establish that the exchange adopted the reasons for the SEC’s earlier suspension.
The SEC suspension began at 4:00 a.m. Eastern Time on October 15 and ended at 11:59 p.m. Eastern Time on October 28, according to the agency’s order. The SEC cited the possibility of manipulation linked to anonymous social media recommendations urging investors to buy, hold or sell TJGC securities and asking them to send screenshots documenting their transactions. The agency said this activity could artificially increase the securities’ price and trading volume. This reflects the SEC’s explanation for its earlier suspension; Nasdaq has not disclosed any link between those concerns and its current information request. Nasdaq’s halt will remain in place until the company satisfies the request, with no end date announced.
In a disclosure signed on October 22, TJGC said it was unaware of any connection to the alleged price-manipulation activity described in the SEC order and pledged full cooperation with the agency and Nasdaq. The disclosure places the company’s position in direct contrast with the concerns cited by the SEC, without changing Nasdaq’s stated condition for resuming trading. The SEC described the company as a holding company registered in the British Virgin Islands and headquartered in Hong Kong. The continuing halt means shareholders cannot execute trades in the stock on the market while it is in effect. The agency urged brokers, shareholders and prospective purchasers to assess the information in its order alongside available information and any subsequent disclosures from the company.
Nasdaq also halted trading in TJGC on May 15, 2026, pending additional information, according to an exchange announcement. The announcement said the stock’s last closing price before that suspension was $2.19 and that trading would remain halted until the company fully satisfied the information request. This shows that the information request is not Nasdaq’s first suspension of the stock this year, but the available facts do not establish whether the current request extends the earlier one or is a new request. In the latest available price data, TJGC closed at $31.89 on October 28, according to EL7 data. That was the close for that day, not a confirmed price for the last trade before Nasdaq’s new decision.
Results for the fiscal year ended March 31, 2026, show the company’s revenue fell to about HK$28.7 million, down 5.8% from the previous year, according to its annual report filed with the SEC. TJGC attributed part of the decline to a 20.5% drop in offline advertising and billboard marketing revenue during the same fiscal year. The company reported a net loss of about HK$23.5 million, compared with a loss of about HK$26.8 million for the year ended March 31, 2025. Its auditors, according to the report, cited a material uncertainty about the company’s ability to continue as a going concern. These financial indicators are reported in the annual filing and do not by themselves explain Nasdaq’s current information request.
The company’s cash also fell to about HK$2.6 million on March 31, 2026, from HK$23.9 million on the same date a year earlier. Positive working capital stood at HK$1.8 million, compared with HK$28.4 million on March 31, 2025, while the report disclosed an accumulated deficit of HK$47.7 million. These figures place liquidity and financing among the aspects of the company’s financial position covered in the annual report. The public disclosure does not specify when trading under the current halt will resume. The next announced step is for the company to satisfy Nasdaq’s request, alongside monitoring for new information from the company or the exchange; the SEC also asked brokers, shareholders and prospective purchasers to take the company’s subsequent disclosures into account.