There are thunderstorm companies every year, but there are a bit more recently.
A few days ago, the United States chip giant Intel suffered huge losses, crazy layoffs, plummeted by more than 26% in a single day, and evaporated more than $30 billion overnight.
However, in terms of decline, the A-share companies that are still "short bulls and long bears" are far ahead.
40 consecutive down limits, violations, or violations!
Looking at the stock price chart of ST Changkang's "a thousand miles away" and "riding the dust", are you already dazzled? How many consecutive down limits are this?
Count carefully, it's actually 40 consecutive down limits!
This trend is bound to go straight to delisting.
On the evening of August 7, the Shenzhen Stock Exchange issued an announcement that the company's shares were terminated due to the closing price of ST Changkang from June 3 to July 1 for 20 consecutive trading days of less than 1 yuan.
Moreover, ST Changkang is a "decisive decision", and the company will not enter the delisting period, and will be delisted within 15 trading days.
ST Changkang is an elevator guide, and the fuse of the company's continuous fall is an announcement on May 5 that the controlling shareholder Changjiang Runfa Group occupies the company's funds.
The specific content is as follows:
First, the controlling shareholder Changjiang Runfa and related parties occupied 3,625,414,800 yuan of the company's funds for non-operating purposes.
That's right, more than 36 billion!
Second, the subsidiary, Changjiang Runfa (Machinery), provided a non-compliant guarantee of 500 million yuan for the bank acceptance draft received by Changjiang Runfa Group.
Third, the company's internal control audit report for the most recent year was issued a negative opinion.
Generally speaking, the negative opinion of the third article alone is not far from delisting.
Coupled with billions of yuan of illegal occupation of funds and illegal guarantees, it is not surprising that the company was quickly delisted.
ST Changkang, whose full name is Changjiang Runfa Health Industry Co., Ltd., is located in Zhangjiagang City, Jiangsu Province, which was originally engaged in elevator guide rail business, and the company's customers include Mitsubishi, Otis, Kone, Thyssen, these world-renowned elevator manufacturers.
Around 2016, the company invested in the pharmaceutical industry through large-scale mergers and acquisitions, providing obstetrics and gynecology medical services and other businesses.
However, spending so much money on medicine has brought a lot of scars.
Previously, ST Changkang said in the announcement, "After the preliminary evaluation and calculation of the goodwill assets of the acquired Hainan Hailing Chemical Pharmaceutical Co., Ltd., it is planned to make a provision for goodwill impairment of about 650 million yuan." ”
At every turn, the goodwill thundered more than 600 million, and the market value of ST Changkang, which is destined to be delisted, is only more than 400 million. With such a method, it is strange that the company is not hollowed out, squeezed dry, and eaten and wiped clean.
In the first quarter of this year, ST Changkang's performance thundered again, with a net profit attributable to the parent company of -10.0673 million yuan, a plunge of 116.74%, and a net cash flow from operating activities of -40.6211 million yuan, a year-on-year decrease of 966.40%.
At the performance briefing on May 20, when the company had fallen for 10 consecutive days, some investors had a premonition that something was wrong, and directly asked the company's executives how to deal if the stock price continued to fall and triggered the relevant regulations and was directly delisted.
However, ST Changkang's executives are still sloppy there, saying that they are firm in their confidence in development, and they are boasting that "they will achieve corporate value growth through performance improvement and return the majority of investors".
As a result, ST Changkang fell for 30 consecutive days and was directly delisted!
Is it just a return? Investors should thank you well.
45,000 shareholders are buried, typical family business
According to the latest data, ST Changkang has more than 45,000 shareholders.
Since the company's stock price has been falling for 40 consecutive times since May 6, the 45,000 shareholders have almost been "smothered" in it and cannot escape at all.
In just a few dozen days, from more than 3 yuan to more than 3 cents, a huge loss of 90%, these 45,000 shareholders suffered a nightmare cruel crit.
The shareholders cried, but the chairman was crooked.
Chairman Yu Xiaqiu resigned as chairman of the board of directors on the grounds of retirement before the stock price fell for 40 consecutive days in April. At the same time, director Yu Quanhe and chairman of the board of supervisors Yu Minfang also resigned.
All surnamed Yu, at first glance it is a family business.
ST Changkang and its controlling shareholder, Changjiang Runfa Group, were previously village-run enterprises in Changjiang Village, Jingang Street, Zhangjiagang, and the Yu family became the actual controllers after the restructuring in 1996.
Yu Quanhe was born in 1941, Yu Xiaqiu is his daughter, Yu Minfang is Yu Quanhe's niece and Yu Xiaqiu's cousin.
In 2023, before their resignation, what did the Changjiang Runfa Group, controlled by the Yu family, and its concerted actors do?
The answer is: a large reduction of holdings, a large amount of equity pledges.
At the end of 2022, Changjiang Runfa Group and persons acting in concert held 543 million shares of ST Changkang, accounting for 43.96% of the company's total share capital.
In 2023, they reduced their holdings by up to 168 million shares through centralized bidding, block trading, and agreement transfers.
Here are a few examples:
In February 2023, ST Changkang announced that the company's shareholders Yu Xiaqiu, Qiu Qiqin, Huang Zhonghe, and Lu Bin reduced their holdings of 8.185 million shares of the company by centralized bidding transactions, with a reduction price of between 5.6 yuan and 5.68 yuan per share, and cashed out about 45.8358 million yuan.
On June 29, 2023, Changjiang Runfa Group reduced its holdings of about 136 million shares, accounting for 10.99% of the total share capital, through an agreement transfer, with a total transfer price of 672 million yuan. The counterparties to the transaction are Hunan Yongxing Private Equity Fund Management Co., Ltd. and Ningbo Ningju Asset Management Center (Limited Partnership).
The receiver has suffered a huge loss, and the actual control family has made a lot of money!
When the stock price was more than 5 yuan, now it is more than 3 cents. Yongxing, Hunan, Ningbo, Ningju, is there no place to cry now?
Ningbo Ningju took over 74,035,400 shares of ST Changkang at that time, involving 366 million yuan.
In the first quarter of this year, Ningbo Ningju reduced its holdings by 12.2363 million shares.
I lost a small part, and most of it was smashed in my hands, and I really lost blood now.
Ningbo Ningju is a quantitative private equity firm that often takes over shares of listed companies at so-called "low prices".
At the beginning of April this year, the gold stock Laishen, which first continued to rise and fall, and then fell rapidly, became popular.
On July 8, Shen Dongjun, the founder of Laishen Tongling, began to "liquidate" his holdings.
On July 17, Shen Dongjun transferred his 5.3% stake to Ningbo Ningju's fund.
The transfer price is 4.26 yuan per share, and the total amount is 77,588,232 yuan. This price is a 12% discount to the closing price of 4.86 yuan on July 16.
It is worth noting that the major shareholders of Laishen Tongling have also had a history of crazy large-scale reductions.
On December 31, 2021, Ma Jun, the actual controller, reduced his holdings of 2.3329 million shares of the company through block trading, and cashed out 18.2777 million yuan.
Shareholder Nanjing Kefu Rongguang (Limited Partnership) has continuously reduced its holdings and cashed out more than 46.37 million yuan in the first three quarters of 2023.
The founder, Shen Dongjun, has continuously reduced his holdings and cashed out more than 108 million from the fourth quarter of 2022 to the third quarter of 2023.
Recently, on July 25, Ms. Wang Lili, a shareholder, and Nanjing Kefu Rongguang, a person acting in concert, planned to reduce their stake in the company by 3%.
Whether it is ST Changkang or Laishen Tongling, the fundamentals are not good, the stock price has fallen for a long time, and it is even accompanied by a "clearance" reduction.
Ningbo Ningju is so taking over, is it really just cheap? Is the price of the pick-up really cheap?
The trend of ST Changkang tells us: after the floor price, there is the basement price, and the cellar price......
As of May 1, 2024, Changjiang Runfa Group pledged 99.99% of its shares in ST Changkang.
Before the delisting, almost all of the shares were pledged when they were still worth a little money, which was equivalent to cashing out a lot of money in disguise.
Coupled with the huge amount of funds obtained from the previous reduction, although ST Changkang was delisted in an extremely tragic way of 40 consecutive falling limits, this "tragedy" is only for small retail investors, and the Yu family has already made and won hemp!