Huayi Electric Co., Ltd. issued the "Announcement on the Termination of Listing and Delisting".
On January 10, *ST Huayi announced that the Shanghai ** Stock Exchange made a decision to terminate the company's listing on January 9, and the company ** will terminate the listing and delisting on January 16.
This means that Huayi Electric will become the first stock to be delisted in 2024.
On January 9, the "Announcement on the Termination of the Listing of Huayi Electric Shares" issued by the Shanghai ** Stock Exchange showed that from November 28, 2023 to December 25, 2023, the daily *** price of Huayi Electric Co., Ltd. *** hereinafter referred to as "Huayi Electric") for 20 consecutive trading days was lower than 1 yuan, which belongs to the ** termination of listing stipulated in the "Shanghai ** Exchange ** Listing Rules (Revised in August 2023)". After deliberation by the Listing Review Committee, it was decided to terminate the listing of Huayi Electric**.
At the same time, in accordance with the Listing Rules96.The second paragraph of Article 1 stipulates that the trading compulsory delisting company** shall not enter the delisting period for trading. *ST Huayi** will not enter the delisting period for trading, and the exchange will delist the company within 5 trading days from the date of the decision to terminate the listing announcement.
After the termination of the listing, the company will be listed and transferred to the two network companies and the delisted company board (i.e., the old third board) established and managed by the National Small and Medium-sized Enterprises Share Transfer System Co., Ltd. relying on the original company agency share transfer system.
Huayi Electric is a veteran wind power company, which was reorganized and listed on the A-share market in 2007 through the backdoor reorganization of Sufoma, and is also the first private enterprise listed on the main board of A-shares in Wenzhou.
In 2015, the company's market value was as high as more than 15 billion yuan. As of December 25, 2023, the company's *** price is 037 yuan shares, has been below 1 yuan for 20 consecutive trading days, the total market value is only 2$8.1 billion.
Huayi Electric's main products involve the power transmission and distribution industry and the wind power industry. Among them, the power transmission and distribution industry began in 1986, mainly involving medium and high voltage power transmission and distribution equipment.
As early as 2002, Huayi Electric has been involved in the wind power industry, with the whole machine manufacturing as the core, and gradually extended to the downstream of the industrial chain such as wind farm operation, operation and maintenance, EPC general contracting, and wind farm project development, and initially formed a pattern of coordinated development of wind turbine sales, wind power engineering general contracting, wind farm operation and maintenance, and wind farm development.
According to the data of the Wind Energy Committee CWEA, in 2015, Huayi Electric added 510MW of installed capacity, ranking 14th in the country, accounting for 166%, the best result in history.
Since 2021, Huayi Electric has continued to lose money. From 2021 to 2022 and the first three quarters of 2023, Huayi Electric will have a net loss of 83.6 billion yuan, 48.5 billion and 13.6 billion yuan.
As of the end of September last year, Huayi Electric's total assets were 330.6 billion yuan, liabilities 347.1 billion yuan, with an asset-liability ratio of 105%.
Shanghai ** Exchange, Beijing ** client, etc.