[TechWeb] Facing the delisting trend, on the evening of August 8,*ST Huaxin(002018.SZ) threw a major “advantage” into the market.
It revealed that the company has signed a “Reorganization Intent Agreement” with Zhongzhou Carbon to reach cooperation agreements on matters such as the coordination of Zhongzhou Carbon to help the company get out of the debt crisis. In order for the company to get out of the debt crisis and operating difficulties as soon as possible, Zhongzhou Carbon actively communicates and agrees with the company and plans to sign necessary restructuring documents as soon as possible, including but not limited to the “Voting Rights Entrustment Agreement”, “Equity Transfer Agreement”, and “Asset Reorganization Agreement”.
In response, the Shenzhen Stock Exchange issued a letter of concern on the evening of the same day stating that because*ST HuaxinSince the alleged false records in the 2017 annual report are being investigated by the China Securities Regulatory Commission, listed companies were not allowed to issue shares to purchase assets during the investigation initiated by the China Securities Regulatory Commission, and the majority shareholders were not allowed to reduce their holdings of the company's shares. The letter of concern requested *ST Huaxin to further explain the feasibility and compliance of the two parties signing the restructuring documents.
The Shenzhen Stock Exchange further pointed out that as of August 8, 2019, the closing price of *ST Huaxin's stock has been below face value for 14 consecutive trading days. The company is required to explain whether information disclosure has been used to influence stock transactions and raise stock prices based on the feasibility and compliance of this cooperation with Zhongzhou Carbon.
According to observations, August 8 is the 14th trading day where the closing price of*ST Huaxin has been continuously below 1 yuan recently. If we simply calculate the 5% increase limit of*ST shares, in the next 6 trading days, even if the company's stock price all rises and stops, the final price will not exceed 1 yuan (that is, 0.74 yuan*1.05*1.05*1.05*1.05*1.05*1.05=0.991 yuan).
However, in actual trading, the smallest unit of price for A-shares is fraction. In the process of rounding off the stock price, *ST Huaxin will have a probability that the actual increase will exceed 5%. Therefore, if *ST Huaxin rises and stops all of the next 6 trading days, it will just happen to be able to reach 1 yuan on the last trading day.
At the opening of the market today, *ST Huaxin (002018.SZ) showed a strong performance. As of press release, it rose 5.14% to 0.78 yuan, and traded 658,300 lots, with a turnover of 483.401 million yuan.
