9 years of financial fraud in a row!
Since the implementation of the delisting of A-shares, the delisting of the A-share market has been accelerating!
Recently, many companies have been ST by the China Securities Regulatory Commission because of financial fraud, such as Special Information, Strait Innovation, and Huijin Shares!
Let's continue to talk about a listed company that has committed financial fraud for 9 consecutive years and locked in delisting in advance, it is *ST Meishang!
*ST Meishang mainly touched 2 delisting indicators, and the delisting has been confirmed!
The first is to touch the trading delisting, *ST Meishang's current stock price is below 100 million yuan for 20 consecutive trading days, and the face value is locked in advance for delisting!
Since the beginning of this year, the company's share price has continued to fluctuate and fall, from 1.64 yuan to 0.12 yuan / share, and the stock price has fallen by 90.78% during the period;
After the company hit a high of 24.92 yuan in 2016, it launched an 8-year adjustment market, during which the stock price fell by 99.33%;
On the trading day before the suspension, the company's stock price was reported at 0.12 yuan shares, and the company's total market value shrank to 87.66 million yuan.
In terms of the number of shareholders, the number of shareholders of the company in the latest period was 21,000, a decrease of 1,200 from the previous period;
In addition to the delisting of transactions, *ST Meishang is facing multiple risks such as financial fraud, letter disclosure violations, and fraudulent issuance, such as *ST Meishang has been financially fraudulent for 9 consecutive years!
What's going on?
The company went public at the end of 2015, and the inflated profit of 66.72 million yuan that year was properly a fraudulent issuance, and in the following 8 years, *ST Meishang's inflated net profit was as high as 457 million yuan.
It is understood that *ST Meishang will also pay the price for its own violations of laws and regulations, and the CSRC imposed a fine of 4 million yuan on *ST Meishang and a fine of 5.5 million yuan on the company's actual controller;
In terms of performance, *ST Meishang achieved revenue of 7.848 billion yuan in the first quarter of this year, a year-on-year decrease of 95.47%, and a net profit loss of 170 million yuan;
Since 2020, the company's operation has been declining, with a loss of 1.045 billion yuan in 2021, a loss of the previous 7 years, and a loss of 2.3 billion yuan in the past three years!
Judging from the data disclosed at the end of the first quarter, *ST Meishang's debt ratio is as high as 100.48%, officially insolvent!
In fact, in addition to *ST Meishang, there are also many companies that have been delisted due to financial fraud this year, such as the most expensive new stock in the past, *ST Zuojiang, etc.;
Since the beginning of this year, the delisting of the A-share market has been increasing, and the China Securities Regulatory Commission recently issued the "Opinions on the Strict Implementation of the Delisting System", which mentions cracking down on financial fraud, insider trading, market manipulation and other violations of laws and regulations;
Especially financial delisting, after all, financial delisting in the A-share market is not uncommon, such as Kangmei Pharmaceutical, Kangdexin and Amethystum Storage, etc., all of which have a bad impact on the market and investors!
At present, 9 companies have completed delisting, and since May, many companies have received delisting notices in advance, such as *ST Meishang, *ST Zuojiang, *ST Sansheng, ST Tai'an, *ST Yuebo;
Under the new rules on delisting, the number of A-share delisted shares will increase.