The once "No. 1 stock in sports" has come to an "end" under the blow of multiple pressures such as successive regulatory letters and the stock price continuously falling below the face value of 1 yuan.
On March 1, 2023, ST Guiren, whose stock price has been below the face value of 1 yuan for 15 consecutive trading days, was once again pressed at 0The price of 82 yuan is unable to move. Although theoretically, the stock can return to 1 yuan "life" as long as the continuous limit is left for 4 days, but from 102310,000 hands down limit and 15Compared with the total share capital of 700 million shares, ST nobles basically locked in the end of "delisting at face value" in advance.
Since the beginning of this year, ST nobles have been in the crisis of delisting at face value. From January 16 to February 19, the stock hit the fall limit for 18 of the 19 trading days, and the stock price easily fell below the 1 yuan mark. From February 19 to February 26, the stock was boosted by the systematic surge, hitting the daily limit for 6 consecutive days, reaching a maximum of 100 yuan, but failed to stand firm. Since February 27, the stock has returned to a downward trend, and has been pressed by large orders on the falling limit for the last 3 consecutive days and cannot move.
Judging from the news, ST nobles have been experiencing bad news recently. Following that on January 22, ST Guiren received the "Decision on Administrative Supervision Measures" issued by the Fujian Securities Regulatory Bureau due to the violation of Chairman Li Zhihua's letter and exposure, and on February 22, the company issued an announcement saying that due to suspected violations of information disclosure laws and regulations, the China Securities Regulatory Commission decided to investigate the company and the actual controller Li Zhihua, and the company is facing the risk of being delisted at face value. In the face of investors' concerns, ST replied to investors on February 23 that "the filing itself has no special impact on the company's operation, this is just a notice of filing, which is basically a result of dealing with related events in the early stage."
This remark has once again attracted the attention of regulators. The Shanghai Stock Exchange announced the regulatory letter at 18:17 on the same day, and the Fujian Securities Regulatory Bureau announced the "Decision on Administrative Supervision Measures" at 19:52 - the regulatory letter of the Shanghai Stock Exchange pointed out that it was decided to give regulatory warnings to Li Zhihua, then chairman of Guirenniao, and Su Zhiqiang, then secretary of the board of directors; The Fujian Securities Regulatory Bureau stated that it violated the provisions of Article 3, Paragraphs 1 and 2 of the Administrative Measures for Information Disclosure of Listed Companies, and that Li Zhihua, chairman of the board of directors of the company, and Su Zhiqiang, secretary of the board of directors, failed to be diligent and conscientious, and were primarily responsible for the above acts.
In addition, the frequent personnel changes of ST nobles have also exposed the management crisis. On the morning of February 29, ST Guiren announced that the board of directors received a written resignation report submitted by director and deputy general manager Wang Rong on the same day, and Wang Rong served as deputy general manager for only 25 days, and the previous director was only 9 days - the "flash" also made ST Guiren receive an inquiry letter from the Shanghai Stock Exchange again.
Investors who know the history must know that ST Guiren, formerly known as "Guiren Bird", was established on July 13, 2004 and is known as "China's national sports brand". From 2008's "Guiren Bird, no one can stop it", to 2009's "Life is a kind of sport", and then to 2010's "Happy Sports", Guiren Bird finally officially landed on January 24, 2014 through a series of brand promotion strategies. After listing, the company's stock price was rapid**, reaching a maximum of 6792 yuan (before the right to reset), the total market value was as high as 10663.4 billion yuan. However, due to blind expansion, Guirenniao flourished and declined in 2016, suffered huge losses due to insolvency in the fourth quarter of 2018, and accumulated a net loss of more than 2.2 billion yuan in 2020, on the verge of bankruptcy and delisting. In July 2021, Guirenniao introduced Taifu Jingu for bankruptcy reorganization, and after the reorganization, the main business was "shoes and clothing + food**" cross-border sales of grain, from the second quarter of 2021 to the first quarter of 2022, Guirenniao achieved short-term profits, and once removed the hat of *ST. However, judging from the subsequent performance statements, this year's earnings are a typical "return to the light". After July 2022, Guirenniao's stock price ended its two-year climb and entered a "long downhill" mode.
So far, if calculated according to the standard of "early lock-in and delisting", since the beginning of 2024, a total of 5 listed companies have been delisted. 5 shares were delisted in the first 2 months of the year, which has never been seen in history. So, what kind of enlightenment does this have for our investors' real operations?
We must stay away from the ** without fundamental support, and we must establish the concept of value investment. Li Weixia, an economist at Fuding Asset Management, told upstream news reporters that the China Securities Regulatory Commission recently made it clear that it would increase the clearing of the A** field and resolutely implement the ** delisting system of "should be withdrawn". In fact, such a statement did not start today, but the concept that has been practiced since the implementation of the registration system, that is, the principle of "survival of the fittest". Therefore, the delisting of 49 listed companies in 2023 is obviously not the end, and it is expected that the number of delistings will increase exponentially on this basis this year, fundamentally clearing the market bubble and creating a clean and positive investment environment. Therefore, investors should resolutely stay away from those that are not supported by performance, especially those with annual revenue of less than 100 million yuan and negative net assets per share, and resolutely establish the concept of value investment and actively participate in high-quality and undervalued classic blue chip stocks.
The views in the article are for reference only and do not constitute investment advice
Upstream news reporter Wang Ye.