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The new "National Nine Articles" proposed to "tighten the financial delisting indicators", and the China Securities Regulatory Commission pointed out that "the operating income of loss-making companies should be increased and the delisting of companies with poor performance should be increased". The exchange further quantified and raised the operating income index requirements for loss-making companies on the main board, from the current "100 million yuan" to "300 million yuan", and the "100 million yuan" remained unchanged on the ChiNext and the Science and Technology Innovation Board. The loss measurement dimension increases the total profit.
According to the exchange, the revision of the mandatory delisting of financial products will come into effect on January 1, 2025, that is, the 2024 annual report of listed companies will become the first applicable annual report. After the disclosure of the 2023 annual report, the listed company will continue to implement *ST, cancel *ST, or terminate its listing in accordance with the provisions of the original rules for compulsory delisting of financial products, and the company that has been subject to *ST will be revoked or terminated its listing in accordance with the new rules after the disclosure of the 2024 annual report.
In other words, if the 2024 annual report is the first applicable annual report, the listed companies on the edge of the red line still have three quarters to improve in 2024.
The following focuses on the situation of the "loss + operating income" combination index of the main board company.
*ST Jinshi's revenue is less than 100 million
Up to now, nearly half of the listed companies have issued their 2023 annual reports, among which *ST Jinshi (002951.SZ) is noteworthy.
*ST Jinshi's 2023 annual report shows that the company's annual operating income is 33.9069 million yuan, less than 100 million yuan, and the net profit attributable to shareholders of listed companies is -44.5714 million yuan, deducting non-net profit of -49.6375 million yuan. *ST Jinshi's main business is cigarette label printing business, with a net profit of 189 million yuan and an operating income of 639 million yuan in 2020, a net profit of 55.7365 million yuan in 2021, a year-on-year decrease of 70.54%, and an operating income of 387 million yuan, and a loss of 36.5869 million yuan in 2022 and an operating income of 185 million yuan that year.
*ST Jinshi explained the main reasons for the change in performance in 2023: one is that during the reporting period, the company optimized the personnel according to the actual needs and paid employees 14.194 million yuan in compensation for dismissal;
Jiemian News noticed that going back to September 22, 2021, the People's Procuratorate of Leiyang City, Hunan Province, filed a lawsuit with the Leiyang Municipal People's Court on suspicion of bribery by Jinshi Printing.
According to the provisions of the Stock Listing Rules of the Shenzhen Stock Exchange, the company's financial indicators for 2023 meet the provisions of Article 9.3.1, Paragraph 1 (1), "the audited net profit in the most recent fiscal year is negative and the operating income is less than 100 million yuan, or the net profit in the most recent fiscal year after retrospective restatement is negative and the operating income is less than 100 million yuan", the company's shares will be subject to the Shenzhen Stock Exchange delisting risk warning.
So, how will 2024 perform or become a crucial year to determine the fate of the company.
Previously, *ST Jinshi was also trying to find a new direction and lay out new industries. The Company had planned to purchase a controlling stake in Qingdao Zhancheng Technology Co., Ltd. by paying cash. According to the data, Qingdao Zhancheng was established on May 24, 2002 with a registered capital of 4.8918 million yuan. Qingdao Zhancheng's main business is integrated circuit back-end design services, and the industry in which it is located belongs to the "integrated circuit design" in the "software and information technology service industry". According to the official website of Qingdao Zhancheng, the company currently has branches and offices in Nanjing, Chengdu and Xi'an, mainly serving the world's top 20 integrated circuit design and Foundry enterprises, and currently the company has nearly 500 integrated circuit design service engineers and a first-class EDA software development team. By the end of 2023, more than 5,000 integrated circuit product design services have been delivered to customers. Qingdao Zhancheng Technology Co., Ltd. is the only one in Qingdao that is a "key integrated circuit design enterprise encouraged by the state", and has successively won the titles of "Qingdao High-tech Enterprise", "Shandong Gazelle Enterprise", "National Specialized and New Little Giant Enterprise" and so on.
However, the plan was eventually terminated, and the company said that "the parties to the transaction have carefully studied and discussed the market changes that are taking place and the core terms of the transaction, and have decided to terminate the transaction by consensus". It seems that the rebirth of *ST Kantoki is still on the way.
There are currently more than 20 loss-making main board companies with revenues of more than 100 million and less than 300 million
According to Jiemian News, among the loss-making main board listed companies that have disclosed data so far, although the operating income exceeds 100 million yuan, there are more than 20 companies with less than 300 million yuan, and similar companies may be included in the new list of the market next year.
For example, China Hi-Tech (600730. SH), the annual report shows that the company's operating income in 2023 will be 123 million yuan, and the company's perennial operating income is at this level, 123 million yuan in 2022, 104 million yuan in 2021, 103 million yuan in 2020, 99.1676 million yuan in 2019, 108 million yuan in 2018, and so on. China Hi-Tech's net profit in 2023 will be -2.6755 million yuan, and the non-net profit will be -13.6526 million yuan. Fortunately, the company's loss in 2022 will be 86.4998 million yuan, and the loss will be significantly narrowed in 2023.
According to the data, China Hi-Tech was listed on July 26, 1996, and the company's education business includes online vocational education business in the medical field and the integration of industry and education in higher education. In terms of online education in the medical field, the company's holding subsidiary, Inther Education, is mainly engaged in medical online education business, mainly in the field of medical education, with vocational examination training business in the field of medical education, supplemented by intelligent science education of first aid skills and innovative training products for vocational qualification certification in extended categories. In terms of the integration of industry and education in higher education, the company is based on the closed-loop model of OBE (Outcome based Education) talent training from industry to education, follows the engineering education certification standards, deeply integrates industry technical resources, builds a bridge for talent training from universities to enterprises, and carries out in-depth cooperation with universities and higher vocational education institutions in the form of industrial college co-construction, professional co-construction, empowerment training, training base construction, curriculum research and development, etc., so as to build an all-round industry "industry-university-research" A new benchmark for cooperation to promote the development of school-enterprise collaborative education. As for the real estate operation business, it covers the leasing of self-owned properties and property management business, and the company operates the leasing business of properties on the 9th and 10th floors of Shanghai Founder Building and the 16th and 17th floors of Shanghai China Merchants Plaza.
Jinglun Electronics(600355. SH) is also very embarrassing, the company has perennial losses, and the perennial operating income is less than 300 million yuan. In 2023, the operating income will be 141 million yuan and the net profit will be 43.3604 million yuan, in 2022 the operating income will be 179 million yuan and the net profit will be 32.2728 million yuan, in 2021 the operating income will be 264 million yuan and the net profit will be 9.3396 million yuan, in 2020 the operating income will be 197 million yuan and the net profit will be 35.4828 million yuan, and in 2019, the operating income will be 303 million yuan and the net profit will be 67.6441 million yuan.
It is reported that Jinglun Electronics was listed on June 13, 2002, and its business is divided into two categories: "computer, communication and other electronic equipment manufacturing" and "software and information technology services" according to industries. According to the product, it is divided into: intelligent manufacturing products: including industrial sewing equipment intelligent control products, industrial IoT components and other intelligent factory general intelligent control products, sewing factory intelligent manufacturing project solutions and software that are inseparable from product hardware; Corresponding mobile APP and cloud platform software, software and information service products: based on the Internet of Things products and cloud platform software developed by the company, the smart campus solutions provided for primary and secondary schools, and the software and information services provided for schools and students' parents.
Jinglun Electronics said that during the reporting period, due to the economic downturn in the industry, sales revenue declined year-on-year, resulting in losses.
Another such as Jialong shares (002495. SZ）。 It is reported that Jialong Express reported that its operating income in 2023 will be 260 million yuan, an increase of 25.13% year-on-year from 208 million yuan in 2022, but it is still less than 300 million yuan, and its net profit attributable to shareholders of listed companies will be -44.7147 million yuan, the total profit will be -49.2254 million yuan, and its non-net profit will also be negative: -15.0564 million yuan. The old rules are acceptable, but the new rules are embarrassing, that is to say, if Jialong shares want to not touch the red line in the coming year, they also need to improve their operations to increase operating income or achieve a turnaround.
According to the data, the operating income of Jialong shares is less than 300 million yuan all year round, 280 million yuan in 2021, 243 million yuan in 2020, 297 million yuan in 2019, 287 million yuan in 2017, 298 million yuan in 2016, 276 million yuan in 2013, 275 million yuan in 2012, and less than 300 million yuan from 2007 to 2011. The listing time of Jialong shares is November 2, 2010, and the main business is the research and development, production and sales of chicken powder and chicken essence products.
Jialong shares said that during the reporting period, the company made impairment provisions for related assets and recognized the fair value change loss of the shareholding company. According to the arrangement, the company will disclose its 2023 annual report and 2024 first quarter report on April 26.