The fate of ST Aikang's delisting has long been predetermined. Since the company became an ST, over 270,000 shareholders have not had a chance to escape.
After 31 consecutive limit-downs, ST Akcome finally went into delisting.
On the evening of today, ST Akcome announced that as of June 18, 2024, the closing price of the company's stock had been below 1 yuan for 20 consecutive trading days. According to relevant regulations, if the company's stock is delisted due to mandatory delisting, the company's stock will not enter the delisting period and the company's stock will be suspended from trading starting from June 19, 2024 (Wednesday).
The fate of delisting has long been locked and the actual controller has been filed.
In fact, the fate of ST Akcome's delisting has been locked in advance. On the day of the closing on June 12, ST Akcome closed at 0.45 yuan/share, which had closed below 1 yuan/share for 16 consecutive trading days, locking in 1 yuan delisting in advance.
In response to the delisting risk of ST Akcome, regulatory authorities have also taken corresponding measures. On the evening of June 12, Akcome New Energy Technology Co., Ltd. announced that due to suspected violations of information disclosure, the China Securities Regulatory Commission (CSRC) has decided to initiate an investigation into the company and its actual controller, Zou Chenghui.
In addition to the stock price plummeting and being investigated, ST Akcome was also exposed to the news that its headquarters was "empty" and its production was suspended. According to media reports, on June 11, a netizen posted a video and photos claiming that Akcome New Energy Technology's headquarters in Hangzhou, Zhejiang Province, was empty. According to the photos provided on site, the office building was closed, even the office computers were gone, only empty workstations and some un-moved potted plants. At the entrance of Akcome New Energy Technology's Hangzhou headquarters building, there is a notice stating that "due to internal work arrangements, there may be no staff working here in the near future", and shareholders who visit can go to the company's headquarters in Zhangjiagang or call the hotline.
On June 7, ST Akcome announced that as of June 8, 2024, its holding subsidiaries, Ganzhou Akcome Optoelectronics, Zhejiang Akcome Optoelectronics, Huzhou Akcome Optoelectronics, plan to suspend the production line of high-efficiency solar cell components on a temporary basis. Later, ST Akcome announced that as of June 12, the production line of high-efficiency solar cell components will be temporarily suspended.
It misled investors that 'there is no risk of being ST' and 'bamboo shoots-style increase holdings'.
ST Akcome's problems don't stop there. At the beginning of the year, Akcome New Energy Technology issued a performance forecast for a loss in 2023, which also caused concern among many small and medium-sized shareholders. On February 5 and April 15 this year, in response to the question of whether the company faces the risk of being ST, the company's interactive platform replied, 'there is no risk of being ST at present.'
However, the reply of the secretary to the interactive platform was soon 'slapped in the face'. On April 30, when Akcome New Energy Technology released its 2023 financial report, its operating income in 2023 was 4.662 billion yuan, a year-on-year decrease of 30.32%, and its net profit was a loss of 826 million yuan. As a result, the company's net profit before and after deducting non-recurring gains and losses in the last three accounting years has been negative. On the same day, Akcome New Energy Technology also issued an announcement that due to continuous losses, the audit firm issued an audit report on the significant uncertainty paragraph related to the retention opinion and continuing operation of 2023 and issued a negative opinion on the company's internal control; starting from May 6, Akcome New Energy Technology would be subject to other risk warnings and its securities abbreviation would be changed to 'ST Akcome'.
Since the day it was 'capped', the company's stock price has kicked off the road of 'continuous limit-downs'. According to the market situation, since May 6, ST Akcome's stock price has experienced 31 consecutive limit-downs and has never opened the limit-up board. At the close of the day, the stock price was only 0.37 yuan/share. According to the first quarterly report this year, ST Akcome had 276,800 shareholders. Since being ST, more than 270,000 investors have had no chance to sell and can only accept the fate of stock delisting.
It's worth mentioning that before 31 consecutive limit-downs, the actual controller and major shareholder of the company made a move of 'bamboo shoots-style increase holdings'.
On February 27, ST Akcome announced that its controlling shareholder, Akcome Industrial and its affiliates, plans to increase its stake in the company by no more than 200 million yuan (inclusive), and no less than 100 million yuan within six months from the date of disclosure of the announcement. However, on May 27, ST Akcome said that the controlling shareholder had not increased its stake in the company.
Looking back to when Akcome was first listed in 2011, Zou Chenghui's family held a total of 43.63% of the company's shares. From 2017 to 2022, the major shareholder reduced its holdings by a total of 627 million shares, cashing in 2.054 billion yuan.