* ST Meidu (600175) announced on the evening of June 17 that the company received the decision to terminate the listing on the Shanghai Stock Exchange on June 17.

Prior to this, the daily closing price of the company's shares through the Shanghai Stock Exchange trading system for 20 consecutive trading days from April 24, 2020 to May 27, 2020 was lower than the par value of the shares (1 yuan). The above situation belongs to the termination of the listing of stocks as stipulated in Article 14.3.1 of the rules governing the listing of stocks on the Shanghai Stock Exchange.

It should be noted that from the next trading day (June 29th, 2020) that expires 5 trading days after the Shanghai Stock Exchange announced the decision to terminate the listing of * ST Medu shares, * ST Meidu shares entered the delisting consolidation period. Within 5 trading days after the delisting period expires, the company's shares will be delisted and * ST Meidu shares will be terminated from listing.

In addition, according to the relevant regulations of the Shanghai Stock Exchange, * ST Meidu should immediately prepare matters related to the transfer of shares into the national share transfer system for small and medium-sized enterprises, so as to ensure that the company's shares can be listed and transferred within 45 trading days from the date of delisting.

It is reported that since the beginning of this year, in addition to * ST Meidu, a number of listed companies, including * ST Tianbao, Tian Guang Zhongmao, ST Ruidian, * ST Silver Pigeon, Dongfang B, and * STDahua B, have been delisted or are about to be delisted because their daily closing prices for 20 consecutive trading days are lower than the par value of the shares.

By the close of trading on June 17, a number of stocks, including * ST Pengqi, * ST Zhongtian, * ST Energy Saving, * ST Jinzhou and * ST Pegasus, were trading below 1 yuan, while more than 80 stocks, including * St Zhaoxin, ST Huiye and * ST Contemporary, formed a "1-share Legion". Whether it is * ST Pengqi, * ST Zhongtian and other stock prices have fallen below the par value of the variety, or a large number of 1 yuan shares, the future is facing the pressure of face value delisting.

Prior to this, Dong Dengxin, director of the Institute of Finance and Securities of Wuhan University of Science and Technology, said in an interview with the Securities Times e Company that under the influence of the reform of the registration system and the new delisting system, A shares have entered a new era of stock price restructuring. The most prominent feature is that high-performing white horse stocks and high-tech stocks have become scarce resources and are generally sought after by funds and institutions, while junk stocks welcome investors to vote with their feet. The reform of the registration system and the new delisting system taught investors risk awareness and "voting with their feet", which really gave A shares the effect of introducing "one yuan delisting standard" eight years ago (2012).