The face value delisting alarm bell sounded again!
Data show that as of April 21, four shares, including * ST Opu, * ST Gangtai, * ST Pegasus, and Tian Guang Zhongmao, closed below par value. Among them, Tianguang Zhongmao, which has the highest number of "low face" days, has 9 days, and there are still 11 days to save itself from the 20-day delisting red line. And * ST Opu, * ST Gangtai, * ST Pegasus and other three "low face" days are 4 days, 6 days, 3 days respectively.
In terms of B shares, East Bank B is also facing a "face-to-face retreat risk". The company issued the "first risk reminder announcement that the listing may be terminated" this evening. The announcement pointed out that Dongfang B shares have closed below 1 yuan per share for 10 consecutive trading days (from April 8 to April 21, 2020). The listing of the company's shares may be terminated.
In addition, the epidemic superimposed fluctuations in overseas stock markets, market risk appetite and activity have both decreased, and the number of low-priced A-shares is also on the rise. up to now, the number of "1-yuan shares" is as high as 74, and the number of "2-yuan shares" is as high as 196.
Delisting may become the biggest "killer" for A-share owners to kick people.
The alarm bell sounded again, and the East Bank announced that the risk would be withdrawn.
Last Monday, ST Rui Dian closed down the limit at 0.65 yuan, with its share price below 1 yuan for 20 consecutive trading days, triggering the "delisting" rule, which will become the eighth delisting of A shares and the first delisted share in 2020.
ST sharp electric delisting process has not yet been completed, A-share withdrawal alarm sounded again, the Times Jun found that so far, * ST Opu, * ST Gangtai, * ST Pegasus, Tianguang Zhongmao and other four shares have been less than 1 yuan for many days in a row.
The listed company with a more urgent situation is the East Bank of the B-share plate. The company issued the "first risk reminder announcement that the listing may be terminated" this evening. The announcement pointed out that Dongfang B shares have closed below 1 yuan per share for 10 consecutive trading days (from April 8 to April 21, 2020). The listing of the company's shares may be terminated. Dongfang B's share price is currently only 0.74 Hong Kong dollars, which translates to 0.68 yuan at the exchange rate, which is well below the face value of 1 yuan.
According to the "delisting" rule, listed companies'A-shares or B-shares will be terminated if their daily closing prices are lower than their par value for 20 consecutive trading days (excluding suspension trading days) (the vast majority of China's A-shares and B-shares have a par value of 1 yuan). If AB shares exist at the same time, the withdrawal standard will be met by meeting the above-mentioned conditions at the same time.
As a matter of fact, as early as April 1, Dongfang B issued a delisting risk announcement for the first time because its share price was lower than its face value for 10 consecutive days, then fell for three trading days in a row, and barely returned to its face value on April 7. And it only lasted for one day, and then re-entered the downward channel.
Tian Guang Zhongmao is in the most dangerous position in A shares, whose latest closing price is 0.94 yuan. Since the closing price fell below 1 yuan on April 9, as of 21, Tianguang Zhongmao has closed below 1 yuan for nine consecutive trading days, which means it has only 11 days to go before the 20-day delisting red line.
In fact, this is the second round of Tianguang Zhongmao's share price hovering below 1 yuan this year. On March 30, Tianguang Zhongmao fell 9.65% on the day to close at 0.95 yuan, and the historical closing price fell below 1 yuan for the first time. After that, the stock price hovered below 1 yuan for three days. On April 2, the company's share price rose by the daily limit and closed at 1 yuan. However, the good times did not last long, and after only a few days, the company's share price fell below 1 yuan again.
In addition, A shares of * ST Opu, * ST Gangtai, * ST Pegasus and other three St shares continuous "low" days are 4 days, 6 days, 3 days respectively.
The latest figures show that the five companies have a total of 196957 shareholders.
It never rains but it pours. * ST Gangtai and * ST Pegasus have many risks.
The Times found that * ST Gangtai and * ST Pegasus not only face the risk of "retreating", but may also touch the suspension of listing.
Among them, * ST Gangtai is subject to special treatment of delisting risk warning due to the issue of "audit report with no opinion" issued in the 2018 annual report, and the company's stock trading may be suspended if the company's 2019 financial report is still issued by an accounting firm with an audit report that cannot express an opinion or negative opinion.
According to the data, the scheduled disclosure date for the company's 2019 annual report is April 29, 2020.
* ST Pegasus is currently being investigated by the China Securities Regulatory Commission on suspicion of illegal information disclosure. According to the relevant provisions of the rules on Stock listing on the Shenzhen Stock Exchange, if a company commits a major illegal act, the company's shares may be warned of the risk of delisting and suspend listing on the Shenzhen Stock Exchange.
According to the relevant regulations, if the company is therefore subject to administrative punishment by the China Securities Regulatory Commission, and the illegal act belongs to the situation of major illegal compulsory delisting stipulated in the measures for the implementation of Major illegal compulsory delisting of listed companies on the Shenzhen Stock Exchange, the company's stock trading will be subject to delisting risk warning, and the company's shares will be suspended on the next trading day after the expiration of 30 trading days. The Shenzhen Stock Exchange shall make a decision on whether to suspend the listing of the company's shares within 15 trading days after the suspension, and make a decision on whether to terminate the listing within 15 trading days after the expiration of the six-month suspension period.
A-share 1 yuan share rose sharply
After the Spring Festival, the epidemic superimposed fluctuations in overseas stock markets, A-share market risk appetite and activity are declining, transaction volume and volume are also falling.
Data show that on April 21, A shares traded 649.3 billion yuan and 59.3 billion shares, down 54 per cent and 49 per cent respectively from the highest level of the year. With the decline in activity, A-share funds are also differentiated, flowing to high-performing and blue-chip stocks.
Affected by this, the number of low-priced shares of A shares is also rising. So far, the number of "1 yuan shares" is as high as 74, and the number of "2 yuan shares" is as high as 196, up 39.62% and 25.64% from the end of last year. Of the 74 1 yuan shares, 29 shares recently closed at less than 1.5 yuan.
The process of "face value delisting" is accelerated
Recently, the CPC Central Committee and the State Council issued opinions on building a more perfect market-oriented system and mechanism for the allocation of factors, which specifically mentioned that we should adhere to the direction of marketization and the rule of law, and reform and improve the stock market issuance, trading, delisting and other systems. We will improve the investor protection system and promote the improvement of the securities civil litigation system with Chinese characteristics.
In fact, the process of A-share delisting has been quietly accelerated.
Up to now, seven A-shares have reached face value delisting, including Zhonghong withdrawal, Eagle withdrawal, Huaxin withdrawal, Indian withdrawal, delisting control, Shencheng A withdrawal, delisting Huaye.
Dong Dengxin, director of the Institute of Finance and Securities of Wuhan University of Science and Technology, predicts that at least 20 junk stocks or zombie companies will be delisted from the A-share market in 2020. The fully market-oriented "face value delisting" standard is conducive to greatly improving the function of survival of the fittest and optimizing the allocation of resources in the A-share market.
It can be predicted that under the market environment of the new securities law and registration system, the market-oriented delisting methods, including "face value delisting", are expected to gradually replace the previous delisting mechanism with profit as the main standard to become the mainstream, which is also the inevitable choice of A-shares. For investors, they should be cautious to participate in the speculation of low-priced stocks, especially those with poor fundamentals.