Two more listed companies will bid farewell to A-shares! ST Zhongnan and other 3 shares locked in advance of "1 yuan delisting", and many shares sounded the alarm of "delisting at face value".

Finance Associated Press

2024-04-26 19:38Published on the official account of Cailianshe under Shanghai Poster Industry Group

Finance Associated Press, April 26 (edited by Lichen) Since the beginning of this year, the survival of the fittest in the A-share market has accelerated. According to incomplete statistics from the Financial Associated Press, following *ST Civil Control, *ST Meisheng, and *ST New Textile, *ST Tai'an, *ST Meishang, and ST Zhongnan were also locked in advance for delisting. *ST Tai'an fell again today, and has fallen for 15 consecutive trading days, closing at $0.54. *ST Tai'an has closed below 1 yuan for 13 consecutive trading days, with a total market value of only 414 million yuan. According to the current stock price calculation, even if all the daily limits are limited in the next 7 trading days, *ST Tai'an's share price will not be able to return to above 1 yuan, and the delisting condition of "the stock price will be lower than 1 yuan for 20 consecutive trading days" will be met and the delisting will be locked in advance.

* ST Meishang fell 18.52% today, closing at $0.22. *ST Meishang has closed below 1 yuan for 15 consecutive trading days, and even if the follow-up company's shares continue to rise by 20%, it will not be able to return to 1 yuan, and it will meet the delisting condition of "less than 1 yuan for 20 consecutive trading days", and it will also lock in delisting in advance. ST Zhongnan continued to fall to the limit today, closing at 0.72 yuan, which has fallen below the face value for 15 consecutive trading days. In the next 5 trading days, ST Zhongnan shares will not be able to return to 1 yuan even if they continue to rise and fall, so they will lock in "1 yuan delisting" in advance.

Just today, ST Xingyuan has been delisted from the Shenzhen Stock Exchange, and the reason for terminating the listing is that the closing price is less than 1 yuan for 20 consecutive days. According to Choice data, so far in 2024, 9 companies, including *ST Huayi, *ST Bolong, *ST Oceanwide, *ST Aidi, ST Hongda, ST Guiren, ST Xingyuan, Xinhai and Delisted Poten, have been delisted. Among them, the reasons why the top 7 listed companies were suspended from listing were all closing prices below 1 yuan for 20 consecutive days, as detailed in the figure below:

As of today's closing, a total of 15 listed companies, including *ST Meishang, *ST Meisheng, *ST Minkong, *ST Xinfang, *ST Tai'an, Baoli Xin, ST Shimao, ST Zhongnan, *ST Sansheng, ST Huatie, Oriental Garden, ST Gaosheng, Dima Shares, ST Dehao and Zhengyuan Shares, have fallen below 1 yuan per share, and there is a risk of "delisting at face value". Among them, *ST Meishang, *ST Tai'an, *ST Xinfang and ST Zhongnan have all been locked in and delisted in advance, and *ST Civil Control and *ST Meisheng have all touched the forced delisting of transactions, as detailed in the figure below:

*ST Meishang, whose main business is ecological restoration and reconstruction and landscape construction, announced late Thursday night that the company's shares may be terminated due to the stock price being below par value. *ST Meishang disclosed the announcement of new litigation matters on the same day, and the amount involved in the new case in which the company was the defendant was 957,300 yuan. Analysts said that *ST Meishang entered a delisting situation, mainly because the company has multiple risks. On the evening of April 21, *ST Meishang announced that due to irregular financial accounting and failure to fulfill information disclosure obligations in accordance with regulations, the company was recently ordered to correct regulatory measures by the Shenzhen Securities Regulatory Bureau. At the same time, due to suspected violations of information disclosure laws and regulations, *ST Meishang has been filed by the China Securities Regulatory Commission on April 19.

Combing through past announcements, it can be seen that this is not the first time that *ST Meishang has been filed. In December 2021, *ST Meishang and its controlling shareholder Wang Yingyan were filed by the China Securities Regulatory Commission (CSRC) for information disclosure violations and violations, and the relevant parties of the company have received administrative penalty decisions. In addition to the above problems, *ST Meishang also had problems such as inaccurate disclosure of information in the 2022 annual results forecast, and failure to truthfully disclose material deficiencies in the 2021 and 2022 internal control self-evaluation reports. In fact, as early as July 2023, *ST Meishang was punished by regulators for financial fraud and fraudulent issuance for many years. It is worth mentioning that as the main person responsible for organizing and manipulating the above-mentioned illegal acts, Wang Yingyan, the actual controller of *ST Meishang, was also punished in February this year for manipulating his own stocks. *ST Meishang announced on January 29 that it expects the company to lose 440 million yuan to 620 million yuan in 2023. This means that *ST Meishang will lose money for 4 consecutive years. Previously, *ST Meishang suffered a total of 1.827 billion yuan in consecutive huge losses from 2020 to 2022. In the long run, year-to-date, *ST Meishang's stock price has fallen by 86.58%.

ST Tai'an, a time-honored traditional Chinese medicine company with a history of nearly 500 years, announced on Thursday evening that there is a risk that the company's shares may be terminated because the stock price is below par value. *ST Tai'an announced on April 7 that on April 2, the Shantou Intermediate People's Court issued the "Decision" and "Civil Ruling". The Shantou Intermediate People's Court decided to terminate the pre-reorganization procedure of Guangdong Taiantang Pharmaceutical Co., Ltd. Analysts said that the termination of ST Tai'an's reorganization application undoubtedly increased the risk of the company's shares being delisted. Since April 8, *ST Tai'an's share price has continued to fall to the limit. In addition, *ST Tai'an announced on December 4 last year that the company and related parties received the "Prior Notice of Administrative Punishment" issued by the Guangdong Supervision Bureau of the China Securities Regulatory Commission. *ST Tai'an and its subsidiaries have occupied non-operating funds with its controlling shareholder, Tai'antang Group, through various methods such as prepayment for equipment purchase, prepayment for drug purchase, and payment for understory ginseng, with a total amount of 980 million yuan. *ST Tai'an announced its 2023 performance forecast on January 30, and the company's net profit attributable to the parent company in 2023 is expected to lose 1.77 billion yuan to 1.92 billion yuan. In the long run, year-to-date, *ST Taian's stock price has fallen by 80.5%.

ST Zhongnan, whose main business is real estate development and construction, has recently issued several announcements to remind investors that the company's shares may be terminated due to the closing price of the stock being continuously lower than 1 yuan. ST Zhongnan disclosed its annual report on April 22 showing that the net profit loss attributable to shareholders of listed companies in 2023 will be 5.293 billion yuan. In the long run, year-to-date, ST Zhongnan's share price has fallen by 48.2%. *ST New Textiles, which is engaged in the production and sales of medium and high-end cotton textiles, announced on Thursday evening that the company's shares may be terminated due to the risk that the stock price is lower than par value. *ST Xinfang announced on March 22 that it received a notice from the China Securities Regulatory Commission on suspicion of illegal information disclosure. *ST New Textile announced on January 30 that it is expected that the company will lose 240 million yuan to 290 million yuan in 2023. In the long run, year-to-date, *ST New Textile's stock price has fallen by 77%.

*ST Meisheng, which had caused a sensation on the whole network for throwing more than 200 million yuan to acquire the well-known Internet celebrity self-media "Uncle Tongdao", announced on Thursday evening that the closing price of the company's shares was lower than 1 yuan for 20 consecutive trading days, and it has touched the situation of forced delisting of transactions, and the company's shares will be terminated by the Shenzhen Stock Exchange. In addition, *ST Megg Mason shares will be suspended from Friday's market open. According to the data, *ST Meisheng's main business is the development, production and sales of animation apparel subdivision products of animation derivatives, and was once known as "the first stock of animation clothing". *ST Meisheng released a performance forecast on January 30, saying that the company expects a net profit loss attributable to shareholders of the parent company in 2023 of 75 million yuan - a loss of 95 million yuan. From 2020 to 2022, *ST Meisheng's net profit has been in the red for three consecutive years, with a total loss of 1.928 billion yuan. *ST Civil Control, whose main business is pawn business and insurance brokerage business, announced on Wednesday evening that the closing price of the company's shares has been lower than 1 yuan for 20 consecutive trading days, which has touched the forced delisting of trading classes, and *ST civil control shares will be terminated from listing and trading by the Shenzhen Stock Exchange. In addition, *ST Civil Control has been suspended since the market opened on Thursday. * ST Civil Control released a performance forecast on January 30, saying that the company expects a net profit loss attributable to shareholders of the parent company of 68.5 million yuan to 135 million yuan.

(Finance Associated Press, Lichen)

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