Following *ST Huayi, another company locked in "1 yuan delisting" because the stock price continued to be lower than the par value.
On December 13, the share price of *ST Bolong, known as "the first A-share clothing design stock", fell to 063 yuan shares, has been less than 1 yuan shares for 11 consecutive trading days, even if the remaining 9 trading days to achieve a daily limit can not return to "1 yuan", so the stock has locked in advance "1 yuan delisting".
ST Oceanwide has fallen below the ** face value for 10 consecutive days, and the delisting risk alarm has also been sounded.
With the continuous promotion of the comprehensive registration system and the strict implementation of the new delisting regulations, the value of shell resources has dropped sharply, and the trend of shell speculation in the market has been significantly curbed, and the quality of fundamentals has gradually become an important criterion for determining whether a company should be delisted. Kaiyuan** believes that the rule design of "1 yuan delisting" can help those listed companies whose fundamentals continue to deteriorate to keep their stock prices below 1 yuan through investors "voting with their feet", and even for some companies with extremely low stock prices, they can lock in and delist in advance before 20 trading days, so as to help investors make investment judgments in advance.
*ST Bolong locks in "$1 delisting".
Up to now, *ST Paulan® has fallen below the face value for 11 consecutive trading days. According to the regulations of the exchange, if the daily ** price of the company is lower than 1 yuan for 20 consecutive trading days, the exchange will terminate its ** listing trading.
According to the reporter's calculations, the ** price on December 13 was 063 yuan shares, even if the remaining 9 trading days to achieve the daily limit, *ST Bolong share price can not return to 1 yuan, so the stock has locked in advance "1 yuan delisting".
In March 2021, *ST Bolong was investigated by the China Securities Regulatory Commission. In response to this investigation, in April 2022, the company received the "Administrative Penalty Decision" issued by the China Securities Regulatory Commission. According to the decision, the company has a number of illegal acts, including false records in the prospectus of the initial public offering, the 2016 non-public offering report and listing announcement and periodic reportFailure to truthfully disclose the statement items of "other non-current assets" in the annual reports from 2017 to 2019, and failure to truthfully disclose the use of raised funds in the 2018 annual reports;From 2018 to 2020, there were cases where the approval procedures and information disclosure obligations were not fulfilled for external guarantees.
Based on the above violations, *ST Bolong was ordered to make corrections, given a warning and fined 10 million yuan;Chen Weixiong and Chen Nana were given warnings, fined 5 million yuan respectively and banned from the market for life.
Not only that, the actual controllers of *ST Bolong, "Mr. and Mrs. Chen", also manipulated their own ** through 92 account groups. According to the details disclosed on the official website of the China Securities Regulatory Commission, from July 6, 2018 to May 31, 2019, the account group concentrated its capital advantages and shareholding advantages, continuously traded and reversed *ST Bolong, and repeatedly affected **trading** and trading volume by means of intraday pull and tail market pull-up, resulting in obvious abnormalities in the stock price of *ST Bolong during the period, constituting market manipulation. In the end, 92 account groups lost 1,234960,000 yuan.
In addition, *ST Bolong was also investigated and reprimanded for failing to disclose periodic reports on time and inaccurate performance forecasts. Moreover, because the company's audited net assets attributable to shareholders of listed companies in 2022 are negative, the company's ** transaction has been subject to a delisting risk warning.
On June 27 this year, *ST Bolong received the "Arrest Notice" issued by the Jieyang Municipal Public Security Bureau provided by the families of the actual controllers Chen Weixiong and Chen Nana, and learned that with the approval of the Jieyang Municipal People's Procuratorate, Chen Weixiong and Chen Nana had been arrested on June 19, 2023 on suspicion of fraudulent issuance, illegal disclosure, and non-disclosure of important information.
On August 31 this year, Shenzhen Shifan Clothing, a creditor of *ST Bolong, applied to the Jieyang Intermediate People's Court for reorganization and pre-reorganization of the company. As of September 5, 2023, Shifan Apparel received a notice from the Jieyang Intermediate People's Court that the application submitted did not meet the requirements. There is significant uncertainty as to whether the company will carry out reorganization and pre-reorganization in the future.
As of the end of the third quarter of this year, the number of shareholders of *ST Bolong was about 1880,000 households.
*ST Oceanwide sounded the delisting alarm
ST Oceanwide also sounded the delisting alarm because the stock price was below 1 yuan for many consecutive days.
Since November 30, ST Oceanwide has been below the face value for 10 consecutive trading days, and the latest price is reported at 0$62 shares. According to the regulations of the exchange, if the daily ** price of the company is lower than 1 yuan for 20 consecutive trading days, the exchange will terminate its ** listing trading. This means that the company** needs to stand at $1 on the last day in the remaining 10 trading days to hope to avoid the delisting crisis for a short time.
According to the reporter's calculations, the ** price on December 13 was 0In the remaining 10 trading days, the company's stock price can barely rise to 1 yuan on the last day only by the daily limit. This means that the ** price of *ST Oceanwide on December 14 fails to rise to the limit, and the face value will be locked in advance and delisted.
According to the data, *ST Oceanwide landed on the A** field as early as 1994 and is the first batch of listed companies in the real estate industry. At its peak in 2016, the company's revenue reached 2467.1 billion yuan, net profit reached 310.9 billion yuan. Since 2020, the company's performance has taken a sharp turn for the worse, and the company has made impairment provisions for some of its real estate projects and related goodwill, with a net profit loss of 46 for the year2.2 billion yuan. Since then, the company's operating performance has continued to decline, with a net profit loss of more than 11 billion yuan in 2021 and 2022.
The company's third quarterly report shows that in the first three quarters of this year, the company achieved a net profit attributable to shareholders of the parent company of -688.7 billion yuan, and the net assets belonging to shareholders of the parent company are -1205.4 billion yuan, the company's operating loss has increased, and the balance sheet has not been improved.
On the evening of December 1, *ST Oceanwide issued an announcement on the termination of the company's pre-reorganization by the court, stating that during the pre-reorganization period, the interim administrator found that Oceanwide Holdings, as a listed company, no longer had the possibility of reorganization, and applied to Beijing No. 1 Intermediate People's Court to terminate the pre-reorganization procedure of Oceanwide Holdings. Accordingly, the Beijing No. 1 Intermediate People's Court decided to terminate the pre-reorganization of Oceanwide Holdings.
A number of companies have disclosed the risk of possible termination of listing
The 2023 financial report disclosure is about to begin, and a number of delisting risk companies have disclosed the risk of possible termination of listing.
Most companies enter the reorganization procedure because of the company, but the company is still at risk of being declared bankrupt by the court due to the failure of the reorganization. If the company is declared bankrupt, the company** will face the risk of being terminated from listing.
There are also companies that have been delisted because their financial indicators in 2022 have not reached the standard, and the company's ** transactions have been put on delisting risk warning. If the company's 2023 audited financial and accounting report shows that the relevant financial indicators still do not meet the standard, the company** will be terminated from listing.
According to wind data, so far this year, 45 A-share companies have been delisted, of which 44 are mandatory to be delisted, more than 41 in 2022.
The improvement of the delisting system has played a very positive role in promoting the improvement of the quality of listed companies. If some companies with poor performance and poor financial status cannot meet the standards of the capital market, their continued existence will pose a greater risk to the development of the entire market. Companies that have been forcibly delisted can also pay more attention to their own operations and management, and strive to re-list by improving the overall quality of the company. Liu Yan, chairman of Anjue Assets, told the ** Times reporter.
In his view, the delisting system has actually played a good role in alerting and spurring all listed companies. In particular, it is necessary to resolutely crack down on those black sheep who have fraudulent issuance, information disclosure and falsification, and never be soft, not only to forcibly terminate the listing qualifications of such companies, but also to let them face the legal claims of investors, and let the relevant responsible personnel bear the economic and legal consequences, which is very important for maintaining the fairness and justice of the market and laying the cornerstone role of the capital market.
*:*Times.