Entering June, the news of delisting is still one after another.
On June 2, Julong, Bangxun Technology, and Contemporary Oriental were officially announced to be delisted by the Shenzhen Stock Exchange.On June 1, the day before, *ST Jintai and *ST Jitang received the decision of the Shanghai Stock Exchange to terminate the listing of stocks.Data shows that the five companies have a total of over 120,000 shareholders.
It is worth noting that in the past month, as the delisted stocks have gradually entered the delisting consolidation period, their largest declines on the first day have also been constantly refreshed. Just last Thursday, the delisted Xiahua plummeted by more than 90% in intraday trading. %.
This year is the second year in which the "strictest new delisting regulations in history" have been implemented. According to statistics from Securities Times reporters, since May, a total of 32 companies have issued announcements that they have received the decision to terminate the listing of stocks.In addition, *ST Yuancheng, *ST Tiancheng, *ST Chengxing, *ST Huazi, *ST Jinggu, *ST Kelin, *ST Fenghua and other companies have issued risk warning announcements that may be terminated from listing .
5 companies "received lunch" in two days
On June 2, the day before the Dragon Boat Festival, the Shenzhen Stock Exchange announced that it had decided to terminate Bangxun Technology Co., Ltd. (*ST Bangxun), Contemporary Oriental Investment Co., Ltd. (*ST Contemporary), Julong Co., Ltd. (*ST Julong) three companies listed.
All three companies were delisted in the financial category.Among them, *ST Dangdai and *ST Julong are both "non-standard delisting" - because the 2021 financial report was issued, it was impossible to express an opinion, and the delisting situation was involved.*ST Bangxun is due to the failure to disclose the 2021 annual report within the statutory deadline.
According to the delisting procedure, the above-mentioned three companies will enter the delisting arrangement period from June 13. The Shenzhen Stock Exchange will delist the company's shares on the trading day following the expiration of the delisting arrangement period. The last trading date is expected to be 2022. July 1.
*ST Julong Announcement shows that the company's stock trading will be issued a delisting risk warning from April 30, 2021 because the 2020 annual financial and accounting report was issued with an audit report that cannot express an opinion.
According to the company's financial report for the first quarter of this year, Liu Yongquan, the actual controller of *ST Julong, holds 21.42% of the company's shares and is the company's largest shareholder. His wife, Zhou Suqin, is the third largest shareholder, holding 5.2% of the shares.As of March 31 this year, *ST Julong had 22,000 shareholders.
Another delisted company *ST Contemporary announced that the Shenzhen Stock Exchange decided to terminate the company's stock listing.On April 30 this year, the first annual report (that is, the 2021 annual report) after the *ST Contemporary stock exchange was issued a delisting risk warning showed that the company's 2021 financial accounting report was issued by an accounting firm. An audit report that cannot express an opinion , which touches the Shenzhen Stock Exchange's regulations on the termination of listing of stocks.As of March 31, 2022, the company has a total of 24,000 shareholders.
On the same day, *ST Bangxun announced that the Shenzhen Stock Exchange decided to terminate the listing of the company's shares.*ST Bangxun was delisted because it was forced to delist because of its delay in disclosing its annual report.On the evening of May 4, the "Announcement on Failure to Disclose Periodic Reports within the Statutory Period and Suspension of the Company's Stocks" disclosed by *ST Bangxun showed that the company failed to disclose the 2021 annual report before April 30, 2022, within the statutory period. , involving the termination of listing of stocks stipulated in the GEM stock listing rules.
Regarding the reason for the "difficult birth" of the annual report, *ST Bangxun explained that it has not yet reached an agreement with the annual report audit institution on major matters.Due to the failure to disclose the 2021 annual report within the prescribed time limit, on May 19, the China Securities Regulatory Commission decided to file a case against the company.As of September 30, 2021, the company has a total of 21,000 shareholders.
On the day of Children's Day on June 1, the famous "phoenix" *ST Jintai of A shares issued an announcement saying that after receiving the decision on terminating the company's listing, the starting date of the company's stock entering the delisting period is June 10. , and the expected last trading date is June 30.
*ST Jintai has a lot of stories. It was listed in 2001, and its performance changed just a year after its listing. After 20 years, it has been performing various stories of shell protection.Less than half a year after listing, the major shareholder sold the stock to Beijing Xinhengji. The actual controller of Beijing Xinhengji is Huang Guangyu's brother Huang Junqin. As of the end of the first quarter, Huang Junqin and his son Huang Yu jointly held *ST Jin Taiyue 19% of the shares are the actual controller.The number of shareholders of the company is 6883.
*ST Jitang also received the delisting decision on the same day as *ST Jintai. Because the 2020 annual financial and accounting report was issued with an audit report that could not express an opinion, Tongjitang shares will continue to be delisted from April 30, 2021. Warning.As of April 30, 2022, the company has not disclosed the latest annual report within the statutory period.As of September 30, 2021, the company has a total of about 50,000 shareholders.
It is worth noting that according to the new trading mechanism, the delisting adjustment period is shortened from 30 trading days to 15 trading days, and there is no change in the first trading day. All will accelerate the return of the market value of delisted companies, and investors must not participate blindly.
"Should be retired" has become inevitable
At present, the registration system has achieved full coverage of the three major exchanges, and the proportion of listings under the registration system is continuously increasing. While the registration system speeds up the listing speed, the delisting system can ensure the survival of the fittest in the capital market. In the past month, the Shenzhen and Shanghai exchanges have The number of stocks that announced the decision to terminate listing reached 32, which shows the intensity of delisting.
Behind the accelerated delisting speed is the gradual improvement of the delisting system, and the efficiency of the survival of the fittest in the capital market has been significantly improved.
In order to avoid delisting, many companies on the verge of delisting have made articles on "income" and "profit", such as surprise sales, and sudden increase in operating income in the short term.In this regard, at the end of 2021, the exchange issued a guideline for the deduction of operating income, and made efforts to precisely crack down on shell companies from three aspects.The first is to refine the deduction requirements for trade and quasi-financial businesses; the second is to standardize the criteria for judging “stable business models”; the third is to clarify the deduction of income obtained from the merger of abnormal transactions.
On April 29, the China Securities Regulatory Commission issued and implemented the "Guiding Opinions on Improving the Post-Delisting Supervision of Listed Companies".On the other hand, it will further strengthen investor protection, adapt to the requirements of normalized delisting, and build a good ecosystem of survival of the fittest with "in and out, and in and out".
It is foreseeable that under the strict implementation of the delisting system, the various loopholes in the previous system have been blocked, and it has become inevitable to "retire as much as possible".
