October 31st isHuaxin retreatsOn the last trading day, its share price closed up 8.33%, and the company's market capitalization was fixed at 592 million yuan. The list of dragons and tigers shows,Hengtai SecuritiesThe business department of Beixiao Street in Dongzhimen, Beijing, appeared in the position of the first purchase amount, buying 596600 yuan and selling 90200 yuan. The top five business departments with the largest purchase amount bought a total of 2.0493 million yuan.
According to the third quarterly report disclosed by Huaxin on the evening of October 30, the company's net assets as of the end of September were-1.196 billion yuan, the operating income in the first three quarters of 2019 was 95.1036 million yuan, the net profit was-6504.9337 million yuan, and the net profit loss in 2019 is expected to be 150 million yuan to 200 million yuan. During the reporting period, the company's re-export business of rubber, factoring and oil products basically stagnated.
Since 2018, A-share delisting is moving towards normalization.
The clearing of the A-share market is accelerating in 2019. Since the beginning of this year, 12 A-share companies have been delisted or announced that they will be delisted. Among them, there are 3 major violations (Longevity retreat、* ST Konder、Qianshan medicine machine), 6 with face value delisted (The young eagle retreats., Huaxin retreated,India retreats、Delisting control、Shencheng A retreat、* ST Huaye), 3 financial problems (Zhonghe retreat、Hua Ze Tui、Delisting Hairun). In addition, nine companies have been suspended from listing. In the view of people in the industry, there are more and more face value delisting in practice, which is also one of the embodiment of improving the quality of listed companies, and the delisting system will continue to be improved in the future.
Confirm delisting
On the evening of September 4th, * ST Huaxin announced that the Shenzhen Stock Exchange today decided to terminate the listing of the company's shares.
From July 22, 2019 to August 16, 2019, * ST Huaxin's shares closed below their par value (1 yuan) for 20 consecutive trading days through the trading system of the Shenzhen Stock Exchange. The above situation belongs to the rules governing the listing of stocks on the Shenzhen Stock Exchange
14.4.1 the termination of the listing of shares. In accordance with Article 14.4.1 (18) and 14.4.2 of the rules governing the listing of stocks on the Shenzhen Stock Exchange
The provisions of the Article and the examination opinions of the listing Committee of Shenzhen Stock Exchange. On September 4, 2019, the Shenzhen Stock Exchange decided to terminate the listing of the company's shares and enter the delisting period from September 12, 2019. The delisting period shall last for 30 trading days, and the Shenzhen Stock Exchange shall delist the company's shares on the next trading day after the delisting period expires.
After the company terminates its listing, it will be transferred to the national share transfer system for small and medium-sized enterprises for share transfer. The company will hire a share transfer service agency as soon as possible, entrust it to provide share transfer services, and authorize it to register the withdrawal of shares from the market registration and settlement system of the stock exchange, handle stock re-confirmation and stock registration and settlement of the national share transfer system for small and medium-sized enterprises.
* ST Huaxin has also become a successor.Nakamoto co.After the fledgling eagle farming and animal husbandry, the third "face value delisting" stock on the A-share market.
There are doubts about "reorganization".
On August 8th, * ST Huaxin signed a restructuring intention Agreement with Jiaozuo Zhongzhou carbon Co., Ltd. (referred to as "Zhongzhou carbon"). The two sides reached an intention to cooperate on matters such as Zhongzhou carbon coordination to help * ST Huaxin out of the debt crisis. The agreement shows that Zhongzhou carbon actively communicated with * ST Huaxin and agreed to sign the necessary restructuring documents including "Voting entrustment Agreement", "Equity transfer Agreement" and "Asset reorganization Agreement" as soon as possible. * ST Huaxin said that the letter of intent signed this time is an initial expression of the will of both parties on the restructuring of the company. if the specific restructuring plan can be implemented and completed, it can promote the resolution of the company's debt crisis, ease the pressure on the company's operation, and have a positive impact on the company's continued operation. It is reported that Zhongzhou carbon is a long-term professional engaged in carbon products production, research and development and sales of science and technology enterprises.
Ushered in the "savior" Zhongzhou carbon, let * ST Huaxin shares directly from the limit to the limit on August 9, in the form of "heaven and earth board" for investors to bring a glimmer of hope to "avoid delisting". However, on Aug. 12, after a weekend, * ST Huaxin fell by its daily limit again.
As of August 15, * ST Huaxin has closed below 1 yuan for 19 consecutive trading days. * there is uncertainty about whether ST Huaxin's "restructuring" can be realized.
In August last year, * ST Huaxin announced that the company had received a notice of investigation from the Securities Regulatory Commission and was filed for investigation on suspicion of false records in the company's 2017 annual report.
So far, * ST Huaxin is still under investigation. The concern letter issued by the Shenzhen Stock Exchange on August 8 also pointed out that according to relevant regulations, listed companies are not allowed to issue shares to purchase assets during the period of filing an investigation by the CSRC, and major shareholders are not allowed to reduce their holdings of the company's shares. * ST Huaxin replied that the letter of intent signed with Zhongzhou carbon is a preliminary expression of the will of both parties on the restructuring of the company's creditor's rights and debts, and that it does not exist or involves the substance and specific content of the company's debt restructuring, and there is greater uncertainty about whether it can be implemented; the signing of the letter of intent with Zhongzhou carbon does not violate the relevant provisions of laws and regulations and the relevant requirements of the regulatory authorities.
Financial commentator Pi Haizhou said that it will take time to verify whether ST Huaxin and Zhongzhou carbon will undergo a substantial restructuring. He cited the operating trusteeship agreement signed before the delisting of Zhonghong shares as an example, saying that when delisting was a foregone conclusion, Zhongzhou carbon lacked sufficient motivation to continue to promote restructuring after the delisting of * ST Huaxin.
In fact, the limit of August 12 announced ahead of time the "death penalty" of * ST Hua Xin, because the stock could not stand back above the face value of 1 yuan in the remaining four trading days, triggering the red line of "face value delisting" in advance, delisting is inevitable. With regard to the reorganization of Zhongzhou carbon, * ST Huaxin replied to reporters on August 15 that if there is an exhibition, an announcement will be made. Zhongzhou carbon also said that the contents of the announcement by both parties shall prevail.
After the Ye Jianming incident, the operation of Shanghai Huaxin, the controlling shareholder of * ST Huaxin, was affected, involving a series of events such as default, rating downgrade, equity freeze, litigation and so on.
In this context, Huaxin Department of the front shrank significantly, withdrew from a number of subsidiaries and foreign investment, huge real estate projects also changed hands.
On the eve of collapse
Under the leadership of mysterious businessman Ye Jianming, Shanghai Huaxin, which specializes in the development and operation of oil and gas resources, once became one of the world's top 500 enterprises with impressive business income. In order to expand the oil and gas business, Ye Jianming thought of using the power of finance. In 2014, he issued specific action guidelines and large-scale development of financial licenses to accumulate capital for future oil and gas resources acquisition.
Prior to the issuance of the code of conduct, Shanghai Huaxin subscribed for 728 million new shares of Huaxing Chemical for 1.913 billion yuan in May 2013, acquired a 60.78 per cent stake in the listed company, put the listed company under absolute control and updated its name to Huaxin International.
On August 22nd, Shanghai Huaxin sold 1 billion yuan to buy all shares of Fortune CLSA, renamed it Huaxin Securities, spent a lot of money to support it, and increased its capital several times, raising the registered capital of the small securities firm from 500 million yuan to 11.2 billion yuan.
In 2015, Shanghai Huaxin bought it for 1.305 billion yuan.Wanda65% equity in futures.
The pace of buying continued until 2017, when Shanghai Huaxin bought a controlling stake in 1520.HK, a Hong Kong stock company, and changed its name toHuaxin Financial Investment。
In addition, Shanghai Huaxin launched the establishment of Hainan Bank in 2015, becoming the second largest shareholder, and has since participated in shares.Central Plains BankEven set up Shanghai Huaxin International Group Finance Co., Ltd. (hereinafter referred to as "Huaxin Finance") in 2017.
These financial assets were built more and more and higher and higher by Shanghai Huaxin like a pyramid. At this time, Ye Jianming, the soul of the company, was checked, and Huaxin's credit chain was instantly broken.
The bonds that were once listed as top students by the major rating agencies were reduced to junk status in the credit stampede. Huaxin soon sent a message to the market that it would sell all kinds of financial assets.
This method of breaking up the east to make up for the west has not received positive feedback from the market.
Shareholders are buried with them.
At the end of the first quarter of this year, * ST Huaxin shareholders still had more than 81000 households, and there is no doubt that they were sent to a desperate situation.
* ST Huaxin is well-known in A-shares and has something to do with its parent company, China Huaxin, which was listed on the Fortune 500 list for four consecutive years from 2014 to 2017, reaching 222. By the end of the first quarter, Shanghai Huaxin International Group had a shareholding of 59.78%.
But Cheng Ye Xiao he defeated Xiao he, * ST Huaxin, formerly a company in the refined oil industry, withdrew a lot of money because its major shareholders were "not doing their proper job". Since 2016, they have been engaged in factoring business, resulting in a "thunderstorm" due to large-scale overdue accounts receivable. With huge losses in 2017 and 2018, even if they are not delisted below face value, they will be "out" for three years in a row.
In the past two years, the performance of listed companies has lost money year after year, the occupation of funds, overdue debt and management turbulence have occurred one after another, and the shareholdings of controlling shareholders have also been frozen. Such a company may no longer have the value of investment for investors, and the two consecutive hoax announcements are just a "silly" venue for investors.
Now that the deal is done, and the face value of the delisting is almost a foregone conclusion, Huaxin International may finally have time to look back on its journey, and we also hope that it can do its best to give due account to the remaining tens of thousands of shareholders in the final time of listing.
The father led the fresh and said