Finance Association, August 31 (Editor: Ga Chen) Since this year, under strict supervision of the capital market, the A-share market has accelerated survival of the fittest, and several listed companies have been delisted. According to Choice data, 17 listed companies, including Pengdu Agriculture and Animal Husbandry, Guanghui Automobile, *ST Huatie, ST Hangao, ST Xinlan, Jianshe B, *ST Chaohua, *ST Baan, ST Contact, *ST Hongtao, *ST Tiancheng, ST Changkang, Bank of China Cashmere, ST Elken, ST Fortis, ST Dima, and*ST Maggie, have been delisted. See the figure below for details:

Also, according to incomplete statistics from the Financial Association, in August, three A-share listed companies, including ST Xudian, *ST Weitron, and Haiyin Co., Ltd., announced that they had received advance notice of termination of listing, locking in advance the delisting situation. Furthermore, *ST Asia Star will voluntarily delist the company for the first time in adulthood.

*ST Asia Star, whose main business is the R&D, manufacture and sale of bus products, announced on August 28 that the company will apply to the Shanghai Stock Exchange to terminate the stock listing transaction, and the company's shares will enter the cash option exercise declaration stage. The filing period is from September 6 to September 10, 2024; the application abbreviation and code is Asian Star Cash, 70,6093; the exercise price is 6.42 yuan/share. Earlier, *ST Asia Star announced on August 2 that the controlling shareholder proposed that the company voluntarily terminate the listing by means of a shareholders' meeting resolution. *ST Asia Star announced on August 26 that the company held the 3rd Extraordinary General Meeting of Shareholders in 2024. The meeting passed a bill to voluntarily terminate the company's stock listing. According to public information, *ST Yaxing's actual controller is the Shandong Provincial State-owned Assets Administration Commission. The company went public in 1999 and was also the first listed company in Yangzhou. In terms of performance, *ST Asia Star announced on August 29 that the net loss for the first half of the year was 18.9422 million yuan. In the secondary market, *ST Asia Star's biggest cumulative decline in stock prices since its January high is 60.21%.

ST Xudian, whose main business is photoelectric display manufacturing, new energy vehicle manufacturing, and construction and installation engineering, announced on August 16 that it received the “Advance Notice” issued by the Shenzhen Stock Exchange. Since the daily closing prices of the company's A shares and B shares were below 1 yuan for 20 consecutive trading days between July 18, 2024 and August 14, 2024, the Shenzhen Stock Exchange decided to terminate the company's stock listing. According to relevant regulations, the company has the right to apply for a hearing or submit written statements and arguments. If the Shenzhen Stock Exchange finally decides to terminate the listing of the company's shares, the company's A shares and B shares will be listed and transferred to the delisting section managed by the National Equity Transfer Corporation. This also means that ST Xudian may become the first listed company with A and B shares to be delisted at the same time this year.

In July of this year, ST Xudian received an order from the Hebei Securities Regulatory Bureau to decide on corrective measures. According to the decision, as of December 31, 2023, Dongxu Group and its related parties occupied ST Xudian's fund balance of 9.595 billion yuan, accounting for 45.64% of ST Xudian's current audited net assets. According to the Securities Law and other relevant regulations, the Hebei Securities Regulatory Bureau requires that the occupied funds should be returned within six months and that a written report be submitted after the rectification is completed. ST Xudian issued an announcement on the progress of the controlling shareholder's non-operating capital occupation on August 27. Currently, the company continues to urge Dongxu Group and its related parties to actively raise funds to repay the occupied capital as soon as possible to eliminate the impact on the company. As of the date of this announcement, Dongxu Group's non-operating capital occupied a total of 9.595 billion yuan. ST Xudian announced on July 10 that it expects a net profit loss of 0.18 billion yuan to 0.27 billion yuan in the first half of the year. In the secondary market, the biggest cumulative decline in ST Xudian's stock price since its January high is 83.41%.

*ST Weichuang announced on August 23 that it has launched two main businesses: the ultra-high resolution digital splicing wall system business (VW business) and the child growth platform business. The company received an “advance notice” issued by the Shenzhen Stock Exchange on August 23. The daily closing price of the company's stock was below 1 yuan for 20 consecutive trading days from July 26 to August 22, touching upon the termination of the stock listing situation stipulated by the Shenzhen Stock Exchange. In late December of last year, Weichuang Co., Ltd. “revealed” that Liu Jun, the actual controller of Fangxiling Energy's proposed acquisition of Fangxiling Energy, had taken over 1.33 billion yuan of the company's funds without permission and was not promptly returned. On March 26 of this year, the company announced that it had received a reminder letter and risk warning from independent directors. Additionally, *ST Weitron was unable to disclose the 2023 Annual Report and the 2024 First Quarter Report within the statutory period, and the company's shares were subject to a delisting risk warning on July 9. In the secondary market, *ST Weichuang's biggest cumulative decline in stock prices since its January high is 88.13%.

Haiyin Co., Ltd., whose main business is commercial property operation, financial services, photovoltaic power generation, etc., announced on August 6 that it received an “Advance Notice” from the Shenzhen Stock Exchange. Since the closing price of the company's shares fell below 1 yuan for 20 consecutive trading days from June 25 to August 5, the Shenzhen Stock Exchange plans to decide to terminate the company's stock listing transaction. Haiyin Co., Ltd. announced on July 17 that it intends to acquire 51% of the shares of Jiangsu Judian New Energy Co., Ltd., and stock trading will be suspended. According to data, Jiangsu Judian is mainly engaged in R&D, manufacturing and sales of energy storage batteries, as well as the manufacture and sale of large-scale charging and switching equipment and charging and switching stations. Haiyin Co., Ltd. announced on July 31. Referring to the due diligence investigation results of the intermediary agency, the underlying company's lawsuits and performance losses, the company decided to terminate the issue of asset purchases in accordance with the principle of prudence. In the secondary market, the biggest cumulative decline in Haiyin Stock's stock price since its January high is 73.28%.