On the evening of April 25, *ST Meishang announced that as of the 25th, the closing price of the company's shares was lower than 1 yuan for 14 consecutive trading days, and the company's shares may be terminated because the stock price is lower than the par value.
*Screenshot of ST Meishang's announcement.
The reporter noticed that the closing price of *ST Meishang on the day was 0.27 yuan, even if the stock continued to rise in the next 6 trading days, it could not return to 1 yuan, reaching the delisting condition of "less than 1 yuan for 20 consecutive trading days", which also means locking in delisting in advance.
On April 26, *ST Meishang opened with a plunge. As of the close, the stock price fell to 0.22 yuan, with a total market value of less than 150 million yuan.
*ST Meishang stock price daily K chart.
Four years in a row of huge losses
The loss is expected to exceed 2.2 billion yuan
According to the company's official website, Meishang Ecological Landscape Co., Ltd. was established in 2001 and is headquartered in Shenzhen, Guangdong, and is an A-share listed enterprise of ecological landscape construction. The main business covers three major areas: ecological cultural tourism, ecological restoration, and ecological products.
The reporter noticed that as early as May 2021, *ST Meishang was issued an audit report by Zhongxinghua Certified Public Accountants (Special General Partnership) that could not express an opinion due to the financial report of 2020, and at the same time, there were controlling shareholders and related parties occupying 894.7829 million yuan of the company's funds, etc., which touched other risk warning situations, and the stock was "wearing a star and a hat".
In April 2023, *ST Meishang was superimposed with other risk warnings due to the fact that the net profit before and after deducting non-recurring gains and losses in the last three fiscal years was negative, and the audit report of the latest year showed that there was uncertainty about the company's ability to continue operations.
According to the disclosure, *ST Meishang suffered a total loss of about 1.8 billion yuan from 2020 to 2022. Previously, *ST Meishang announced that it expects a net profit loss attributable to shareholders of listed companies of 440 million yuan to 620 million yuan in 2023. This also means that *ST Meishang has suffered huge losses for four consecutive years.
*Screenshot of ST Meishang's announcement.
The actual controller has colluded with private equity to manipulate the market
The loss was 238 million
In addition to continuous losses in performance, in recent years, *ST Meishang has also frequently fallen into the "whirlpool" of financial fraud, letter disclosure violations, and fraudulent issuance.
On April 21, *ST Meishang issued a number of announcements, in addition to being filed by the China Securities Regulatory Commission for suspected violations of laws and regulations in information disclosure, and was also ordered to correct by the Shenzhen Securities Regulatory Bureau due to irregular financial accounting and failure to fulfill information disclosure obligations in accordance with regulations.
And this is just the "tip of the iceberg" of *ST Meishang's violations in recent years.
In July 2023, due to the falsification of the prospectus and financial reports for many years, the failure to disclose related party transactions and capital occupation as required, and the non-public issuance of shares constituting fraudulent issuance, the company and relevant parties received administrative penalties and market ban decisions issued by the CSRC.
*Screenshot of ST Meishang's announcement.
At that time, the China Securities Regulatory Commission ordered Meishang Ecology to make corrections, gave a warning, and imposed a fine of 13.3 million yuan, and gave a warning to Wang Yingyan and Xu Jing, the actual controllers of the company, and imposed fines of 15.1 million yuan and 530,000 yuan respectively.
Because Wang Yingyan instructed Meishang Ecology to engage in illegal information disclosure and fraudulent issuance, the circumstances of the violation were particularly serious, and the CSRC decided to ban Wang Yingyan from the securities market for life. Previously, she had been publicly reprimanded and criticized by the Shenzhen Stock Exchange several times.
In addition to being involved in several major "crimes," the reporter noted that Wang Yingyan also received the "Administrative Penalty Decision" issued by the China Securities Regulatory Commission in February this year for colluding with Ji Yun, the legal representative of Shanghai Yongshu Asset Management Co., Ltd., to manipulate the securities market.
According to the announcement, from June 12, 2018 to July 3, 2020, Wang Yingyan and Ji Yun actually controlled 113 securities accounts (hereinafter referred to as the "account group") including "Wu", continuously traded "Meishang Ecology", and manipulated "Meishang Ecology".
During the manipulation period, the account group bought a total of 3.14 billion shares and bought 39.984 billion yuan, and sold 3.138 billion shares and sold 39.798 billion yuan, with a cumulative transaction volume of nearly 80 billion yuan. After deducting commissions and related taxes, the account group lost a total of about 238 million yuan.
Based on this, the China Securities Regulatory Commission decided to impose a fine of 5 million yuan on Wang Yingyan and a fine of 3 million yuan on Ji Yun, which can be described as "losing his wife and losing his soldiers".
*Screenshot of ST Meishang's announcement.
The scenery of a well-known female billionaire "the first half of her life"
Judging from Wang Yingyan's resume, he was also a man of the hour.
According to public information, Wang Yingyan was born in 1967, with a bachelor's degree, majoring in weaving, and obtained an EMBA degree from Fudan University. He used to be a member of the Wuxi Xishan District Committee of the Chinese People's Political Consultative Conference, and was awarded the honorary titles of "Wuxi Outstanding Entrepreneur" and "Management Innovation Entrepreneur in China's Landscaping Industry", and was hired as a visiting professor of Jiangnan University in 2019. He has successively served as the general manager, executive director and chairman of Wuxi Meishang Landscape Engineering Co., Ltd.
Relying on financial accumulation, Wang Yingyan also appeared on the "Hurun Report" in 2016 with a net worth of 5 billion yuan, becoming a well-known female billionaire.
Under a series of turmoil, *ST Meishang's stock fell sharply, from a high of 153 yuan when it was first listed to the current 0.22 yuan. In recent years, Wang Yingyan has reduced her holdings and cashed out many times, but the latest statistics show that there are still about 21,300 shareholders in it. The reporter noted that some investors have initiated civil claims against *ST Meishang Securities for misrepresentation. (China News Network)