The A-share market is accelerating the survival of the fittest. Market participants expect that after the implementation of the new delisting rules, more listed companies will hit the delisting red line.
On the evening of May 6, at least 5 *ST companies, including *ST Zuojiang, *ST Sansheng, *ST Tai'an, *ST Zhongzhong and *ST Yuebo, announced at the same time that they had received prior notices of termination of listing.
*ST Zuojiang, *ST mid-term
The annual net profit was negative and the revenue was less than 100 million yuan
*ST Zuojiang (300799) announced on May 6 that it received a prior notice of termination of listing on the Shenzhen Stock Exchange, and the company's shares may be terminated.
According to the announcement, on April 29, the company disclosed the first annual financial and accounting report after the implementation of the delisting risk warning, showing that the company's audited net profit before and after deducting non-recurring profits and losses in 2023 was -223 million yuan, and the operating income after deducting business income unrelated to the main business and income without commercial substance was 52.1727 million yuan;
*ST Zuojiang touches the termination of the listing of shares as stipulated in Article 10.3.10, Paragraphs 1 and 3 of the GEM Listing Rules (Revised in August 2023) of the Shenzhen Stock Exchange, and the Shenzhen Stock Exchange intends to decide to terminate the listing and trading of the company's shares.
*ST Zuojiang is a provider of software and hardware solutions and software and hardware platforms in the field of information security, mainly engaged in the design, development, production and sales of software and hardware platforms, boards and chips related to the field of information security, and was listed on the GEM in October 2019.
According to the annual report, *ST Zuojiang's revenue in 2023 will be 53.2516 million yuan, a year-on-year decrease of 9.68%, a net loss of 220 million yuan, a year-on-year increase, and a basic earnings per share loss of 2.15 yuan.
*ST Zuojiang's audited net profit is negative and its operating income is less than 100 million yuan, and the company's 2023 annual financial statements are issued with an audit report with a non-standard audit opinion, so *ST Zuojiang's shares are terminated from listing. Trading in the company's shares has been suspended since the market opened on April 29, 2024.
A year ago, *ST Zuojiang was put on delisting risk alert from the opening of the market on May 4, 2023 due to a negative audited net profit in 2022 and an operating income of less than 100 million yuan.
In the case of the hype of the concept of computing power last year, although *ST Zuojiang was warned of the risk of delisting, the stock price still soared. In April 2022, its share price was only about 50 yuan / share, and by April 2023, it had skyrocketed to 200 yuan / share, and by July 2023, its price peak had reached 299.80 yuan / share, known as the most expensive "ST shares" in history.
Also due to negative annual net profit and revenue of less than 100 million yuan, the exchange terminated the listing of the company is *ST medium-term (000996), the company also received the Shenzhen Stock Exchange "prior notice" tonight.
The announcement pointed out that due to the negative audited net profit of *ST in 2022 and the operating income of less than 100 million yuan, the company's stock trading will be subject to a delisting risk alert from May 5, 2023.
On April 30, 2024, the company's first annual report after the implementation of the delisting risk warning showed that the company's 2023 annual financial and accounting report was issued an audit report that could not express an opinion. The company has touched the termination of the listing of shares as stipulated in Article 9.3.11 of the Stock Listing Rules (Revised in August 2023) of the Shenzhen Stock Exchange, and the Shenzhen Stock Exchange intends to decide to terminate the listing and trading of the company's shares.
According to the annual report, *ST's medium-term operating income in 2023 will be about 11.07 million yuan, a year-on-year decrease of 64.99%, and the net profit attributable to the parent company will be about 8.01 million yuan.
*ST Sansheng, *ST Yuebo
Annual reports and quarterly reports could not be disclosed on time
*ST Sansheng (300282) announced this evening that the company received the "Prior Notice" issued by the Shenzhen Stock Exchange on May 6, 2024, and the Shenzhen Stock Exchange intends to decide to terminate the listing and trading of the company's shares. *Trading in ST Sansheng shares has been suspended since May 6, 2024.
Previously, on April 25, *ST Sansheng received a termination notice from Beijing Xingronghua Certified Public Accountants (hereinafter referred to as "Beijing Xingronghua"), which was harshly worded and listed the company's "three crimes":
First, the company has not submitted the audited materials truthfully, completely, timely and standardized in accordance with the agreement, and lacks key audit evidence;
secondly, they did not respond to the concerns raised by the regulators in a timely manner, and some directors still had different opinions on the content of the responses to the concerns;
Third, some personnel have inappropriate remarks in the process of communication.
At the same time, Beijing Xingronghua asked *ST Sansheng to issue relevant announcements on the change of audit institutions in a timely manner to remind investment risks. Beijing Xingronghua warned *ST Sansheng: "If the announcement is delayed, all the consequences caused by your company and relevant personnel shall be borne by your company." ”
Due to the resignation of the annual audit accountant, *ST Sansheng has not yet published the 2023 annual report and the first quarter report of 2024.
It is worth noting that during the audit process of *ST Sansheng's 2023 financial report, Beijing Xingronghua is already the third accounting firm to resign.
On December 29 last year, *ST Sansheng and Zhongshen Zhonghuan were dismissed and replaced with Shenzhen Xutai, and on March 25 this year, Shenzhen Xutai was also dismissed, and *ST Sansheng was transferred to Beijing Xingronghua. In the process of continuous exchange, there is a situation where the audit fee of "large firm for small firm" has increased.
Although the qualifications and entry times of the three accounting firms are different, they gave the same negative evaluation of *ST Sansheng after the "breakup".
*ST Yuebo (300742) was also "locked" and delisted by the exchange due to its inability to disclose its 2023 annual report on time.
*ST Yuebo announced tonight that it received the "Prior Notice" issued by the Shenzhen Stock Exchange. According to the company's "2022 Annual Report", the company's audited net assets attributable to shareholders of listed companies at the end of 2022 were -83.5991 million yuan. The company's shares will be put on delisting risk alert from May 4, 2023.
As of April 30, 2024, *ST Yuebo has not disclosed the 2023 annual report within the statutory period, which touches the termination of the listing of shares as stipulated in Article 10.3.10, Paragraph 1, Item 4 of the Rules Governing the Listing of Stocks on the Growth Enterprise Market of the Shenzhen Stock Exchange (Revised in August 2023), and the Shenzhen Stock Exchange intends to decide to terminate the listing and trading of the company's shares.
*ST Tai'an
An audit report of "unable to express an opinion" was issued
*ST Taian announced tonight that the Shenzhen Stock Exchange intends to decide to terminate the listing and trading of the company's shares.
According to the announcement, on April 30, *ST Tai'an disclosed relevant announcements that the company's first annual financial and accounting report after the implementation of the delisting risk warning was issued an audit report that could not express an opinion. The company has touched the termination of the listing of shares as stipulated in Item 3 of Paragraph 1 of Article 9.3.11 of the Stock Listing Rules of the Shenzhen Stock Exchange (revised in August 2023), and the Shenzhen Stock Exchange intends to decide to terminate the listing and trading of the company's shares.
According to the annual report previously released by *ST Tai'an, the company achieved operating income of about 410 million yuan last year, a year-on-year decrease of 36.43%, a net profit loss attributable to the parent company of about 2.21 billion yuan, and a basic earnings per share loss of 2.88 yuan. For this large loss of financial report, the accounting firm Sichuan CEFC issued an audit report that could not express an opinion.
CEFC Sichuan said in the audit report that there is significant uncertainty about ST Tai'an's ability to continue operations, and the impact of the controlling shareholder's non-operating occupation of funds has not been eliminated. At the same time, it could not determine the opening value of the project in the balance sheet part, the reasonableness of the large impairment losses being included in the annual profit and loss, the accuracy of the sales promotion amount, the material errors in the 2023 financial statements, and whether there was a clear violation of accounting standards and disclosure requirements.
