Source: Associated Press of Finance
In 2024, along with Delisting The supervision is further strengthened, and the "problem companies" in the securities market are also accelerating their "clearing". After the "face value withdrawal", the "market value withdrawal" will gradually become a powerful tool to promote the survival of the fittest in the capital market. Jianche B Friday night announcement, The company's stock touches the mandatory delisting index of transaction type , starting from June 17 Suspension 。 This means Jianche B became the first listed company that touched the delisting indicators of trading because its market value did not meet the standard.
The new delisting regulations issued at the end of 2020 added the delisting index of "the total daily closing market value of stocks for 20 consecutive trading days is less than 300 million yuan", However, in the following years, trading delisting companies were mainly delisted at face value, and no company touched the delisting index of market value 。 Subsequently, the new "National Ninth Article" requires "improving market capitalization standards and other transaction delisting indicators". Against this background, at the end of April this year, Shanghai and Shenzhen Stock Exchanges revised and improved relevant delisting rules: Mainboard A-share (including A+ Class B ）The delisting standard of the company's market value will be increased from 300 million yuan to 500 million yuan from October 30, and the transition period will be from the end of April to the end of October. The delisting standard of the company's market value is still 300 million yuan; The delisting standard of B-share, GEM and Science and Technology Innovation Board companies remains unchanged at 300 million yuan.
Choice data shows that as of the close of Friday, except for Jianche B, Huili B And Ning Communication B The market value of B-share companies is also less than 300 million yuan. Among A-share main board listed companies , the market value of which is less than 300 million yuan *ST Shentian (Rights protection) 、 *ST Meixun (Rights protection) 2; Less than 500 million yuan *ST Easy Connect (Rights protection) 、 *ST Zhongdi 、 ST Everlasting (Rights protection) 、 *ST Furun (Rights protection) 、 ST Futong (Rights protection) and *ST Boxin 。 Analysts said that most of these companies have poor performance, poor management and other problems, which need to be paid close attention to by the market, and the decline is deep year to date. The specific list is as follows (excluding delisting consolidation period and suspended individual stocks):
Analysts believe that compared with traditional financial indicators, Market value can more fully reflect the company's market position, competitiveness and future development potential, and is an important embodiment of the mechanism of survival of the fittest in the capital market 。 By setting market value standards, screening and classifying listed companies will help eliminate "zombie enterprises" and "black sheep" in the market and improve the overall quality and efficiency of the market. Industry experts pointed out that, The delisting of Jianche B is a normal reflection of the mechanism of survival of the fittest in the market 。 In the capital market, listed companies must constantly improve their own quality in order to win the trust and support of investors. The market will punish those companies with poor performance and poor management until they exit the market. This mechanism helps to purify the market environment, improve market efficiency and promote the healthy development of the market.
Construction B failed in "self rescue" and stood on the "cliff" of delisting Huili B, * ST Shentian, * ST Meixun's cumulative maximum share price decline in the year exceeded 60%
According to public data, Jianche B belongs to China North Industries Group and is mainly engaged in the production and sales of air conditioning compressors for vehicles. From the perspective of performance, from 2021 to 2023, build vehicle B Net profit They are - 259.99 million yuan, - 39.7331 million yuan and - 69.3313 million yuan respectively. Entering 2024, The company did not change its loss status and realized a net profit of -14.5057 million yuan in the first quarter 。 In the face of delisting crisis, It is not that Jianche B has never tried "self rescue" 。 According to the shareholding increase announcement issued by CRRC B on May 26, Zhonghui Futong and Nanfang International, the persons acting in concert with the company's controlling shareholders, Ordnance Group, plan to increase their shareholding in the company's shares within six months from May 27, 2024. The total amount of the proposed increase in shareholding is not less than 1.5 million yuan (inclusive) and not more than 3 million yuan (inclusive). Under the influence of this positive news, the share price of Jianche B rose significantly from May 27 to June 3, but eventually it was difficult to escape the result of "market value delisting". From the performance of the secondary market, as of the close of Friday, Jianche B had dropped its limit for six consecutive trading days. In the long run, Jianche B's stock price has fallen by 65.92% since its peak in January 。
It is worth noting that besides Jianche B, *ST Meixun, * ST Shentian, Huili B, Ning Telecom B and other companies have also issued similar risk warnings, and the market value delisting alarm has been sounded. * ST Meixun, whose main business is the R&D, production and sales of mobile intelligent devices, announced on Friday evening that the company's stock closed at 1.01 yuan on June 14, with a market value of 288 million yuan, less than 300 million yuan, The market value has been less than 300 million yuan for 7 consecutive trading days There is a risk that the company's shares may be delisted because their market value is less than 300 million yuan. The financial report shows that * ST Meixun's revenue in the first quarter of this year was only 3.8713 million yuan, a year-on-year decrease of 67.23%; The net profit is -1131400 yuan. From 2021 to 2023, * ST Meixun's revenue has declined sharply in succession, The net profit has suffered continuous losses, and the accumulated loss amount has exceeded 250 million yuan 。 For a long time, * ST Meixun The cumulative maximum decline of share price since January's high is 68.91% 。
* ST Shentian, whose main product is premixed concrete, announced on June 4, The closing market value of the company's stock has been less than 300 million yuan for one consecutive trading day since June 4 According to the regulations, if the total closing market value of the company's shares is less than 300 million yuan for 20 consecutive trading days, the company's shares will be at risk of being delisted* ST Shentian's revenue in the first quarter was only 17 million yuan, and its net profit was - 0.16 billion yuan. From 2021 to 2023, * ST Shentian has suffered losses in succession, with a cumulative loss of nearly 500 million yuan. For a long time, * ST Shentian The cumulative maximum decline of share price since January's high is 73.61% 。
The main business income is mainly from Huili B, which leases its own factory buildings, and announced on Friday that the total market value of the company's shares on June 14 was 235 million yuan, Less than RMB 300 million for 9 consecutive trading days 。 According to the regulations, if the total daily closing market value of the shares for 20 consecutive trading days is less than 300 million yuan, the company's shares may be delisted by the Shanghai Stock Exchange. In the long run, Huili B's stock price has dropped by 69.67% since its peak in February 。 Ning Telecom B, an information and communication enterprise subordinate to the central enterprise, announced on June 6 that the closing market value of the company's shares on June 6 was 272 million yuan, which was less than 300 million yuan for the first time. According to the regulations, companies that only issue B shares in the Shenzhen Stock Exchange will be terminated from listing and trading if the closing market value of their shares in the Shenzhen Stock Exchange is less than 300 million yuan for 20 consecutive trading days. In the long run, Telecom B's stock price has dropped by 47.9% since its February peak 。
(Source of article: The Associated Press of Finance) Source of article: The original title of the Associated Press of Finance: "The market value retreats" The first share is born! Several listed companies sounded the alarm of "market value retreat"
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