Listed companies can often become a breakthrough in the industry, and in the case of slowing economic growth, it is even more valuable.
As an important "reserve army" of listed companies, Haojing Notes (Haojing 2024) noticed that a number of Shaanxi enterprises are quietly delisting. In January 2024 alone, 6 Shaanxi enterprises issued relevant announcements on the termination of *** listing - some active, some passive, it can be said that a few are happy and a few are sad.
Among them, the "top students" directly sprint to the market; There are also those who choose to overtake in corners, and through the asset acquisition of listed companies, they want to become listed companies by "marrying" and replacing assets; There are also companies that can't get along in the world, and even the chairman bluntly said that he could not disclose the regular report on time due to the company's operating difficulties, which sounded full of helplessness and sadness.
From the perspective of listing, the local government has a listing goal, and the company and the capital behind it have a listing demand; But at the same time, the IPO has tightened, the **3,000 point defense battle has failed, the overall market valuation has declined, and it has become more and more difficult to go public and raise more money for listing.
In this case, it is still a picture of squeezing the head of the listing, and it seems to be quite "tangled" ......
Delisting boom. According to the data of the Shaanxi Securities Regulatory Bureau, by the end of 2023, there were 117 listed companies in Shaanxi Province, a slight decrease from 123 at the end of 2022.
According to incomplete statistics from Hojing's notes, a total of 9 Shaanxi companies will be delisted in 2023, in addition to 1 company delisted (note: 20 companies in Sichuan were delisted, 4 companies were delisted, and 7 companies were delisted in Chongqing during the same period).
It is worth noting that entering 2024, the pace of delisting has suddenly accelerated.
According to incomplete statistics, in January alone, Shaanxi has Yueda Biological, Steel Research Function, including 6 companies issued announcements related to the termination of listing, in addition, there are two applications for listing on the Beijing Stock Exchange and the Shenzhen Stock Exchange, if the listing is successful, it will also lead to delisting.
In just one month, 8 Shaanxi enterprises may be involved in delisting, which is rare.
It can be said that Shaanxi Province ushered in a wave of delisting boom.
The company is one of the important reserve forces of the IPO, and some rules are also set for the listed company.
Like the Beijing **Exchange**Listing Rules (Trial)21.2. Article 1: When an issuer applies for public offering and listing, it shall be an innovative listed company that has been listed on the National Equities Exchange and Quotations System for 12 consecutive months.
Will the reduction in the number of listed companies affect the reserve strength of IPOs?
In this regard, there is no need to worry too much, because *** is only one of the listed reserve army, and Shaanxi still has its own magic weapon to win.
In 2023, Shaanxi released a list of provincial-level listed reserve enterprises, with a total of 438 companies on the list, and the relevant regulatory authorities have told Hojing that the number will be expanded a little more, eventually reaching about 500.
Local governments, regulatory authorities, enterprises, capital market service institutions, etc., rack their brains in order to complete the financing of enterprises in the capital market.
However, from the perspective of investors, after the listing, the company's statements and other situations are publicly exposed to the sun, which also gives investors the opportunity to screen.
The state behind the delisting.
Compared with other Shaanxi companies that have taken the initiative to delist, only ST chefs seem to be passive and need to be delisted.
The company's 2022 annual report was issued by an accounting firm with no opinion, thus bearing a cap. The accounting firm believes that Qinchuan Chef's main income has declined sharply, and it has lost money for three consecutive years, and the loss range is also getting bigger and bigger, there are problems such as wage arrears and union funds, and there is a major uncertainty about continuing operations.
According to the relevant provisions of the "Implementation Rules for the Termination of the Listing of Listed Companies on the National Small and Medium-sized Enterprise Share Transfer System", the financial reports of the listed companies in the last two fiscal years have been issued by certified public accountants with negative opinions or audit reports that cannot express opinions, and the National Equities Exchange and Quotations Company has terminated its listing.
Moreover, there is another episode in Chef Qinchuan's 2022 annual report.
Due to the company's failure to prepare on time, the National Equities Exchange and Quotations Company and the Supervision and Enforcement Department of the National Equities Exchange and Quotations Company issued a decision on disciplinary punishment and self-discipline supervision measures to Chef Qinchuan and relevant responsible persons.
The listed company and the chairman of the board of directors argued that the company could not disclose the periodic report on time due to the company's operational difficulties. The defense also stated that it could not be ruled out that some companies would abandon their listing due to issues related to the cost of listing.
Some delisted companies are in order to sprint to the main board market, such as Boda Software and Shaanxi Ruike, most of which have their own confidence.
Haojing's notes once published an article "Serving More Than 1,300 Colleges and Universities, Xi'an Software Enterprises Sprint to the Beijing Stock Exchange Was Suspended for Voting", describing some obstacles encountered by Boda Software in sprinting to the Beijing Stock Exchange. However, on February 5, Boda Software announced that it had successfully passed the meeting and was expected to add a new listed company in Shaanxi Province this year.
There are also some curve listings, for example, the listed Shaanxi enterprise Broadcom shares last year planned to purchase 55% of the shares of the company Yu Tengneng Huan through private placement, but the review has been suspended by the Shanghai Stock Exchange.
IPOs are the ultimate battleground.
As the "ballast stone" and "stabilizer" of economic development, listed companies often occupy a key ecological niche in their respective industries. Its quality and quantity are not only closely related to fiscal and tax revenues, but also an important image symbol of regional economic development.
For example, among the 24 industrial chains in Shaanxi Province, Qinchuan Machine Tool, a representative enterprise of CNC machine tools, Baoti Co., Ltd., a representative enterprise of titanium and titanium alloys, and LONGi Green Energy ......, a representative enterprise of solar photovoltaics
A listed company can even become a breakthrough in an industry, which is commendable in the case of a gradual slowdown in economic development. To a certain extent, the more listed companies in the region, the more vitality and resources can be injected into the local economy.
According to China Youth Daily, in 2022, Shaanxi's 24 key industrial chains will achieve an output value of 164 trillion yuan, an increase of 1787%。
It can be seen that it is important to cultivate key enterprises with listed companies as the core.
The function of China's ** market is still mainly financing, like a huge reservoir, which continues to provide financing guarantees. Listed companies are like pipes connected to a reservoir, and the number of pipes affects the amount of water obtained from the reservoir.
At present, Shaanxi Province has released a target of 10 new listed companies in 2024, and many earlier documents have also shown support for listing.
According to the "Three-Year Action Plan for Promoting the Listing of Enterprises (2022-2024)" issued by the General Office of the People's Government of Shaanxi Province, from 2022 to 2024, we will strive to raise no less than 20 billion yuan of listed companies in the province every year, and strive to increase the capitalization rate of competitive enterprises by 20% per year.
The amount of financing has a lot to do with the market valuation, and at the moment when the market loses the 3,000-point defense battle, it has become a luxury to raise more money.
In August 2023, the Shaanxi Provincial Local Financial Supervision and Administration Bureau and the Shaanxi Provincial Department of Finance issued the "Several Measures of Shaanxi Province to Support the High-quality Development of the Capital Market" to support enterprises to list in domestic and foreign capital markets. A one-time reward of 5 million yuan will be given to enterprises successfully listed on the Shanghai ** Stock Exchange, Shenzhen ** Stock Exchange, Beijing ** Stock Exchange and Hong Kong Stock Exchange.
Analysts pointed out that the encouragement of real gold to go public, but the iron also needs to be hard, and the financing also needs to create value for investors, which is the key to reversing the decline of the A** market.
Boda Software Official WeChat, Qinchuan Chef Qiao's Aunt Official WeChat, Qinchuan Machine Tool Group Official WeChat, Visual China).