After being plagued by negative news in the capital market, do listed companies simply want to withdraw? It's probably not that simple. Last night, ST Akcome (002610.SZ) disclosed an announcement that the company and the actual controller Zou Chenghui were investigated by the China Securities Regulatory Commission for suspected violations of information disclosure regulations.

ST Akcome is currently locked in to delist at 1 yuan. On April 15th of this year, in response to the question from investors about whether the company had ST risk, the company stated, "At present, the company does not have the risk of being ST." However, the actual situation is that on May 6th, the company's stock trading was subject to other risk warnings and the stock code was changed from Akcome Technology to ST Akcome.

ST Akcome is responsible for the duties of the board of directors' secretary by Chairman Zou Chenghui. Due to inadequate disclosure of production and operation risks and internal control risks to investors, the company and relevant personnel received a warning letter from the Zhejiang Securities Regulatory Bureau on ****. At the same time, the Shenzhen Stock Exchange issued a concern letter to ST Akcome, initiating a disciplinary action procedure against the company and related parties.

ST Akcome is on the verge of being delisted. As of the close of June 12th, ST Akcome closed at 0.45 yuan/share, and the closing price has been lower than 1 yuan/share for 16 consecutive trading days, and it will delist by being locked at 1 yuan in advance. In terms of operations, after announcing the temporary shutdown of multiple battery production bases, ST Akcome also announced last night that the high-efficiency solar cell module production line has been temporarily shut down since June 12th, and the shutdown time is expected to not exceed three months. The follow-up production situation will be disclosed in a timely manner.

Similar to ST Akcome, many "near-delisting stocks" have received notices of investigations, and those who violate laws and regulations can no longer use delisting to write off debts. On the evening of June 10th, ST Yili (600277.SH) announced that it had received a notice of investigation from the China Securities Regulatory Commission because the company was suspected of violating information disclosure regulations.

Similar to ST Akcome's misleading response, at the end of January of this year, ST Yili disclosed its performance forecast, which estimated a net income attributable to the parent company of 36.45 million to 52.86 million yuan in 2023, and a non-recurring net profit of a loss of 96.01 million to 112 million yuan. However, on April 30th, the company disclosed its annual report for 2023, which showed a net profit of -542 million yuan and a non-recurring net profit of -675 million yuan, revealing the "big face change" between its performance forecast and actual performance.

On June 6th, the Shanghai Stock Exchange issued a decision to notify and criticize ST Yili and related persons responsible, due to the change in the direction of the expected performance forecast for 2023 compared to the actual performance, inaccurate disclosure of performance forecast information and untimely disclosure of correction announcements. The Shanghai Stock Exchange notified and criticized Wang Ruifeng, the chairman of the company at that time, Hou Jinghui, the general manager at that time, and Zhang Yanmei, the finance director at that time, and recorded it in the integrity files of listed companies.

On June 10th, ST Yili announced that it had received a notice of investigation from the China Securities Regulatory Commission because the company was suspected of violating information disclosure regulations.

Also on the edge of delisting, *ST Baan (300262.SZ) announced on the evening of May 31st that the China Securities Regulatory Commission had decided to investigate the company due to suspected violations of information disclosure regulations. *ST Baan is plagued by a variety of risks. The company's 2023 financial statements have been audited with an audit report that cannot express an opinion.

At the same time, due to negative net profit and negative non-recurring gains and losses from 2021 to 2023, the audit report involves a significant matter of uncertainty about the company's ability to continue as a going concern, and other risk warnings have been implemented. In addition, many of the company's bank accounts have been frozen, most of its properties have been sealed, and its ability to continue operating is in doubt.

Regarding the issue of protecting the rights and interests of investors of delisting stocks, the China Securities Regulatory Commission stated in response to a question from a journalist on June 6th that after the listed company is delisted, the company and relevant responsible persons should still bear the corresponding civil, administrative, and criminal legal responsibilities for possible illegal and irregular behaviors before delisting. The China Securities Regulatory Commission attaches great importance to protecting the interests of investors involved in delisting, adheres to the principle of pursuing illegal activities to the end, and punishes market manipulation, financial fraud and other behaviors during the delisting process in accordance with the law, and protects investor's legal rights and interests through multiple channels.

The China Securities Regulatory Commission also stated that it has transferred 17 delisting companies and their responsible persons who are suspected of crimes to the judicial authorities for criminal responsibility this year. The follow-up judicial authorities will disclose the details of the case according to the progress of the investigation. For investors who suffer losses due to illegal and irregular behaviors of listed companies, they support them in protecting their legitimate rights and interests through lawsuits and other means in accordance with the law.