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- Source/Brand Officer
- Author/Brand Officer
December 25th session
Introduction: At the end of the year, the A-share market also came to a summary, as of the close of trading on December 22, 43 companies have been delisted in the A-share market this year. The sky is not afraid of the earth, and the listed company is most afraid of adding an ST in front of the company's name, and what is even worse is that it is preceded by an "asterisk *".
Some netizens asked: If you retire, who will pay in the end? This question is not a big A shareholder at first glance, and I don't feel the same at all.
Of course, it is the stockholders, and the most painful of them is the retail investors who take over at the end! Otherwise, there are many stupid retail investors! Others are buying up, and they are falling when they buy themselves?
Of course, there are also a few outstanding retail investors, but they are definitely good at it, and there is no "all-or-nothing" mentality.
01. The number of delisted companies reached a record high of 43
According to Article 9.2.1 of the Rules Governing the Listing of Stocks on the Shenzhen Stock Exchange, if the closing price of the company's shares is lower than 1 yuan per share for 20 consecutive trading days, the company's shares will be terminated from listing and trading on the Shenzhen Stock Exchange.
The 1 yuan delisting (face value delisting) regulation has actually given retail investors 20 days to think about whether to retreat, but if they don't retreat, they have to wait until the "gong and drum" is locked and delisted, and then withdraw is it useful?
Poor stocks must have something to hate, how long can they hold up at the time of IPO? In the end, they can't escape the stock luck of "voting with their feet".
According to the analysis of data from Oriental Wealth Choice, as of the close of trading on December 22, 43 A-share stocks have been forcibly delisted.
According to the delisting data of Oriental Wealth Choice, there were 9 in 2019, 16 in 2020, 16 in 2021, and 42 in 2022.
Last year, 42 were delisted, and this year there is 1 more than last year, and this year is indeed a record high.
Among the 43 "junk stocks" that have been cleared by the market this year, the proportion of real estate stocks is slightly higher.
There are 8 real estate companies, followed by 7 companies in the computer field, and 4 companies in the field of medicine and biology and media, respectively, which have been delisted, and these three fields alone occupy half of the "garbage mountain" of the delisted companies this year.
02. More than half of them are delisted for 1 yuan
The delisted stock with par value in February is *ST Kaile, the delisted stock with par value in March is *ST Ronghua and *ST Xiyuan, and the delisted stock with par value in April is *ST Jinzhou.
The delisted stocks in June were *ST Zhongtian, *ST Pangda, *ST Hongtu, *ST Yikang, and *ST Blu-ray.
The delisted stocks in July were *ST Jiakai, *ST Songdu, ST Yuetai, and ST Meizhi.
In August, the delisting of the face value was *ST Honggao, ST Sunshine City, *ST Tianrun, *ST Soute, ST Tahoe, and *ST Zixin.
Stretching the timeline to the last 30 years, in fact, only 237 listed companies have been delisted, which is just a little more in the past few years.
It's hard to say whether it will be higher next year, but I'm afraid there will be a lot of them.
Don't panic when you see the delisting, of course, if you are one of the "retail shareholders", please ignore it, just state the objective facts, not make up for it, please don't be glassy.
Now the delisting mechanism is as normal as three meals a day, how can there be a reason for only in and not out, there is in and out of the entire A-share market is relatively healthy, the survival of the fittest, survival of the fittest, and those who remain are fighting chickens in A-shares.
Companies with poor management capabilities, such as nearly 20 companies such as *ST Colin, *ST Culture, *ST Guangyi, *ST Blue Shield, etc., are all due to this reason.
If you don't have the ability to continue operating, don't struggle in A-shares, and you still want to "cut leeks" without diamonds?
If there is a phenomenon of "fake accounting" in the IPO, there are *ST Zeda, *ST Amethyst, *ST Jitong and other companies, which will be forced to delist, and sooner or later they will have to pay back.
03. More than 80 billion repurchases during the year, and active repurchase tide at the end of the year
According to Choice statistics, up to now, more than 1,300 A-share listed companies have implemented share repurchases during the year, with a repurchase amount of more than 80 billion yuan.
For example, Rongsheng Petrochemical, Muyuan Shares, Salt Lake Shares, and Hikvision repurchased more than 1 billion yuan, and CATL repurchased 3.3339 million shares, with an amount of about 576 million yuan.
According to the analysis of Straight Flush data, since December, more than 300 A-share companies have issued repurchase plans, a significant increase in the number of year-on-year increases.
For example, Gree announced a few days ago that Gree had repurchased a total of 61.3781 million shares, amounting to about 2.013 billion yuan, but Gree repurchased a special securities account.
Debang Technology also recently announced that the board of directors approved a plan to repurchase the company's shares by centralized bidding, with a total of 30 million to 60 million yuan.
There are also many companies such as Proya, Zhongtian Technology, Bairun Shares, Buchang Pharmaceutical, Credit Testing Standards, etc.
Each has come out to catch a wave of "repurchase sets", and the upper limit of the amount to be repurchased ranges from 100 million yuan to 360 million yuan.
04. Three A-share delisted companies became "Internet celebrities in the financial industry"
Last week, *ST Huayi, *ST Oceanwide, and *ST Bolong, all three companies fell to the limit, and in accordance with the "1 yuan delisting" rule, they were also locked in advance and "delisted".
These three companies did not expect to become A-share "traffic Internet celebrities" in this way at the end of the year, and have been hovering on the verge of delisting.
Even if this week begins, even if it is the last three trading days of continuous daily limit, it still can't change the situation of "less than 1 yuan for 20 consecutive trading days", and the rise to the limit is only 10%.
In short, the shares corresponding to these three companies have been locked in par value and delisted in advance, and may not appear in the A-share market in 2024.
As of the end of the third quarter of this year, the shareholders of these three companies still have 23,500, 80,200 and 18,800 respectively, and the three companies have actually issued an announcement that "the company's shares may be terminated due to the risk that the stock price is lower than the par value".
As for why it was delisted, why was the stock price lower than $1?
According to the analysis of Oceanwide's financial report data for the third quarter of 2023, Oceanwide's attributable net assets at the end of September were -12.054 billion yuan (unaudited), which is either rich or negative.
If you can't improve your debts before the end of the year, you have to comply with the relevant regulations and be forced to delist!
The other two were forcibly delisted, and that was even more so!
05. There are two types of delisting, and there is a difference between active delisting and passive delisting
December 25th session
The delisting of the stock does not mean that the corresponding company has no value at all, it really has no value unless a bankruptcy statement is issued!
A company that voluntarily delists is that it feels that it does not want to be listed, so it will either buy back shares at a low price, or it will be transferred to another company to be listed.
So for shareholders, this kind of voluntary delisting is a good thing, because if there is a repurchase, the purchase price will be higher than the market price, and the profit will be stable.
Listed companies that are passively delisted generally touch on some unforgivable points that do not meet the requirements of becoming a listed company:
If you have the ability to operate, you have to retire, you have "fake accounting" and other dishonest behaviors, then these are basically the black sheep, early exit is good, and the market is clean.
The stock prices of passively delisted companies fell sharply in the final "sprint", and shareholders must have been seriously injured.
However, even if it ends in this way, the A-share market is still relatively friendly to these passively delisted companies, and there is still a chance to make a comeback, and they can also transfer to the New Third Board, or borrow the Old Third Board.
Otherwise, there is no mercy to talk about, and all the money is the fire of the stockholders, and no matter how stupid the money is, it will not be able to withstand the chaos of the capitalists.
In short, as long as bankruptcy is not declared, everything still has a chance, and the delisted company can also have the opportunity to re-list, the more famous is that the Chuangzhi 5 and Changyou 5 of the year, at least there is a precedent of re-applying for listing.
Here are a few examples of the success of this year's reorganization:
Lansheng shares, Feilo shares, Boshen shares, Cuiwei shares, Shuyuan Technology, Huatong Pharmaceutical, Lubei Chemical, Wingtech Technology,
China Construction Construction, Beineng Co., Ltd., Taihe New Materials, Hagaoke, Quanye Co., Ltd., New Territories Pump Industry, Juzi Technology.
As long as there is the ability to continue operating, delisting is not worthless!
06. If the stock price is less than 2 yuan, it must be stabilized
According to the statistics of Oriental Wealth Choice, as of the latest closing date, there are 62 shares in the A-share market with a share price of less than 2 yuan, including three "Internet celebrity stocks", and there are more than 50 left, of which there are more than 20 ST shares, that is, more than 50 companies can be stable at the end of the year.
To be marked as ST means that the management ability needs to be strengthened!
For example, *ST Oceanwide, ST Tesco, ST Shimao, *ST Xinlian:
The financial report data of these four companies in the first three quarters of 2023 shows that they have not made money, they are all losses, with losses of 6.887 billion yuan, 2.607 billion yuan, 2.126 billion yuan, and 1.758 billion yuan respectively.
Of course, there are others that lose within 10000000000000000000000000000000000000000000000000000000000000
Thirty years in Hedong and thirty years in Hexi, hundreds of applications for listing a year, but dozens of delistings, the total proportion is still not much.
The clearance is only for a better order next year, otherwise it will be messy and unruly, and it will not be "real" if it occupies the pit, and it is not easy to choose from it.
Some netizens also said that this wave of clearance is very good!
07. The stock market is risky, and investment needs to be cautious
According to Wind data analysis, as of June 21, 2023, the number of A-share listed companies is 5,228.
Among them, these six major industries can be said to be the most popular, accounting for a large proportion of listed companies:
There are more than 300 companies in each industry, including medicine and biology, machinery and equipment, electronics, computers, power equipment and basic chemicals.
Among them, there must be high-quality companies and low-quality enterprises, depending on whether investors have a keen eye.
Different people in the same industry may not have the same results, which has a strategic vision and the tuyere of the times.
Next, there is not much time left for A-share retail investors in 2023, and there is still a week to go, can they turn the tables against the wind? Eat meat or drink soup next year? At the moment, it is difficult to say.
For listed companies, whether they can have a fat year and prevent problems from delisting before they are delisted, they have to spend their minds on rational allocation of assets.
For investors, there are big-headed leeks and small-headed leeks, or the old saying goes, the stock market is risky, investment needs to be cautious, don't say anything about delisting without compensation, is playing hooligan.
The pool is so big, there are so many on the flowing side, on the flowing side, the strong never complain about the environment, and no one forces retail investors to be leeks!
When you are not a leek, it depends on the psychology of a willing to fight and a willing to suffer, don't blame anyone, let alone delisting and compensation, no one tied you up to speculate in stocks.
It can only be said that any investment should not carry the psychology of a gambler, it is nothing more than a game between one wave and another wave of people.
What's more, the current stock market is subject to great emotional fluctuations, but there are also people who win a lot of money, right?
Even if it is a loss, there are people who lose less, such as Hu Xijin, who has played stocks for half a year, and has a loss of no more than 50,000 yuan, but also has two brushes.
Don't put your eggs in the same basket, it's the right investment, Buffett has times when he invests wrong, such as Apple, let alone a retail investor.
#Tell the truth#Do you think the delisted company needs to compensate shareholders?Please leave your views and leave a comment.
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