The stock market crash hit again, more than 4,000 shares hit a 3-month low, and who will lead the rebound of small and micro disks?
On April 16, Wind's all-A equal weight fell by 6.38%, more than 600 stocks fell to the limit, only 278 stocks rose in the whole market, and 5,062 stocks fell, reproducing the stock market crash scenario at the end of January and early February. From January 16 to April 16, 4,431 stocks fell, and only 924 rose. Excluding the impact of the National Nine Articles, from January 16 to April 12, only 1,259 stocks rose, and 4,093 hit a three-month low. In comparison, since January 16, 1,620 stocks have risen and 3,993 have declined on the Nasdaq, while 1,100 stocks have risen and 2,349 have declined on the New York Stock Exchange.
On April 16, the China Securities Regulatory Commission explained the issue of dividend delisting:
The purpose of this delisting indicator adjustment is to increase efforts to clear out the "zombie shell" and "black sheep", not for "small-cap stocks".
It is certainly not possible for the SFC to discriminate against some companies because of their size, only may
Right
Companies with poor corporate governance and management should strengthen policy guidance.
The stock listing rules are revised, and other risk warnings (ST) are implemented if the dividends do not meet the standard.
It is aimed at profitable companies, i.e., companies with positive net profit in the most recent fiscal year and positive undistributed profit at the end of the parent company's statement year.
host
It is necessary to focus on improving the stability and predictability of dividends of listed companies, focusing on the ability to divide
red
But for a long time
Companies that do not pay dividends or have a low percentage of dividends.
ST is not a delisting risk alert (*ST),
does not result in delisting;
The main purpose is to remind investors to pay attention to the company's risks,
Once certain conditions are met, you can apply for revocation of ST.
According to estimates, the number of companies that will be delisted by the applicable portfolio financial indicators of the Shanghai and Shenzhen stock exchanges next year is expected to be about 30;
About 100 companies that may touch this indicator next year and implement a delisting risk warning will have more than a year and a half to improve their operations and improve quality, and they will still not meet the standards before they will be delisted by the end of 2025.
In terms of market capitalization indicators, only 4 main board companies in Shanghai and Shenzhen currently have a market value of less than 500 million yuan, and there are no companies on the Science and Technology Innovation Board and ChiNext that are close to 300 million yuan in market value delisting.
The regulator's note is aimed at avoiding a liquidity crisis for small and micro caps. On April 17, some of the small-cap stocks that were wrongly killed may see a rebound. Referring to the last sharp fall, the rebound pioneers with a decline of more than 5% on February 6, the top increase on February 7, a market value of less than 10 billion, and a positive net profit in 2023 are Xidaemun and Long Cable Technology.
February 6
The daily decline is more than 5%, and the increase is among the top from February 7 to February 19, with a market value of less than 10 billion.
Other companies with positive net profits in 2023 include Richen Shares, Hesheng New Materials, Huayang International, Oriental Materials, Roman Shares, and Huijia Times.
February 7
The daily decline was greater than 5%, from February 7 to February 19, the market value was less than 10 billion, and the companies with positive net profits included Jiafa Education, Guomai Culture, Sanwang Communication, Si Teqi, Century Tianhong, Meinong Biotechnology, Golden Sun, Pan Asia Micro Penetration, etc. These stocks may be able to lead the rally today. You can also add more stringent financial constraint screening.
After two large fluctuations, the micro-cap quantitative fund should learn a lesson, and the rebound momentum of micro-cap stocks will become weaker and weaker, until it enters the downward channel, and the future will usher in investment opportunities with the overall bull market in the stock market.