Large-scale investigation of delisting risk stocks

Large-scale investigation of delisting risk stocks
Source: Vision of China: Hu Huaxiong Redevex 22 evening, the Shanghai Stock Exchange made a breath * ST Jean, * ST Kun decided to decline the machine subsidiaries and decide on P * ST, * ST Hairun combined company since MayListing will be suspended from May 29.  One delisting is rare, and the company that delisted this time has a state-owned background, and as the Shanghai Stock Exchange Standard, the remaining shares are held by Hong Kong capital, which can also erode the strength and determination of the exchange.  According to historical experience, after the resumption of trading of companies whose shares have been suspended from trading, they will face serious declines and even continue to fall.The delisting company’s stock will eventually be delisted from the Shanghai and Shenzhen Stock Exchanges. Both of the above facts will cause the holder to suffer significant losses.  In addition, once the suspension of the listed company’s business conditions further deteriorates, it is easy to trigger delisting clauses.Therefore, it is very important to analyze the actual risk level of the company’s suspension.  During the year, 40 companies have suggested the risk of suspension of listing. These company risks or the highest preliminary statistics. Since this year, 40 companies have issued a notice of the risk of suspension of listing.Determined to suspend listing.There is still potential uncertainty as to whether the remaining companies have suspended listing.  Obviously, about half of the above companies are companies that have implemented delisting risk warnings (* ST) or other risk warnings (ST).In theory, there is only one step left to suspend listing.  According to the rules of the exchange, after the stock market of the Shanghai and Shenzhen stock exchanges and small and medium-sized listed companies were issued early warning of delisting risks, the company had the most recent fiscal year expenditure including disclosure, the net assets were negative, and the revenue was less than 10 million yuan.When the financial report is issued with an audit report that cannot express an opinion or a negative opinion, and the company has not disclosed a variety of annual reports or interim reports that should be disclosed within two months, the shares will be suspended for listing.  In addition, if a listed company has fraudulent issuance, major information leaks, etc. that may be subject to administrative intervention by the CSRC or transferred to a public security agency in accordance with the law, the conditions for listing suspension will also be met.  For GEM companies, except for the early warning stage of delisting risks, it is similar to main board and small and medium board companies in terms of touching the suspension of listing.  The requirements of the Shanghai Stock Exchange’s Stock Listing Rules for touching and suspending listing requirements include the following types of companies: A, ST Zhongan, * ST Anmei, National Technology, Huayi Jiaxin, etc.The net profit attributable to mothers in 2017 was negative.  B. Among the companies that have issued audit reports that cannot express their opinions or negative opinions, the company has issued a suspension of listing risk warnings this year. There is no such situation that the 2017 financial reports have been issued with opinions that cannot express opinions or negative opinions.  It should be pointed out that * ST enecarbon’s 2017 annual report was issued an audit report that cannot express its opinion, but the company has been suspended from listing in 2017, and the risk of delisting is high.  C. The data of the annual report that is not disclosed within the statutory period shows that * ST Huaze, Kaidi Ecology, Qianshan Pharmaceutical Machinery all show the 2017 annual report on time.  Who’s next?  The Shanghai Stock Exchange has taken the lead in terminating the total delisting and temporary listing totals. The market expects that the next batch will appear in Shenzhen.Let’s take a look at some of the more popular companies.  Changshan Pharmaceutical: The risk of suspension of listing is relatively small, and there is no problem in performance. From the “approval of domestically produced Viagra new drug workshop” to “alert warning of suspension of listing,” Changshan Pharmaceutical (300255) only used thisBy one week, it could be considered an embarrassing record for A shares.What kind of death can everyone say on their own!  Although the progress of Changshan Pharmaceutical is accelerating, judging from the information currently available, its delisting risk is relatively small, far from reaching the level of possible suspension of listing.However, in accordance with relevant regulations, after a listed company conducts an investigation, it must issue a suspension of listing risk alert. Whether or not the suspension is involved needs to wait for the investigation results of the Securities and Futures Commission.  Qianshan Medicine Machine: Two Qianshan Medicine Machines involved in the suspension of business are troublesome, and there are two kinds of possible suspension. There are two kinds of cases: 1) Filed an investigation by the Securities Regulatory Commission.  The company is being investigated by the CSRC for suspected information disclosure violations.If the company commits major information disclosure violations, the company’s shares will be suspended from listing.  2) Annual reports and quarterly reports cannot be disclosed within the legal period.  Due to the company’s involvement in private lending and complex audit procedures, the accounting firm was unable to issue the audit report on time, and the company was unable to disclose the above-mentioned periodic report by April 30.The company decided to postpone the two reports until May 31. If the company cannot complete the annual report disclosure before June 30, the company will face the risk of suspension of listing.  In addition, if the company still repeatedly discloses the 2017 annual report within one month after the suspension of listing, it may be terminated by the Shenzhen Stock Exchange.  The GEM does not have an ST system. Once the triggering conditions are met, the listing will be suspended. This is particularly important.  Katie Ecology is also sympathetic to Qianshan Yaoji. It also involved a case investigation by the Securities Regulatory Commission. It was unable to disclose its annual report within the legal period and suspended its listing twice a quarterly report.  In addition, there are * ST Huaze also faced the risk of suspension of listing due to the inability to repeat periodic reports in a limited scope.It was alleged that the company disclosed at the time that the annual report was not disclosed on time because the two shareholders were unwilling to borrow money to pay the audit fee.On April 25, the major shareholders have fully paid the audit fee. On the same day, the auditing agency responded that it planned to enter the audit on May 2 and planned to issue an audit report on June 28.However, the original CFO resigned on May 8, and a new CFO was elected on May 22.  Will LeTV be delisted?  LeTV has not issued any risk warnings about the suspension of listing, and it is still safe at this stage.The important point of the suspension of listing that LeTV may involve in the future is that in the company’s 2017 annual audit report, Lixin Certified Public Accountants issued an audit opinion that “cannot express its opinion”.According to regulations, if the two-year audit report appears to be “negative” or “unable to express opinions” on the company, the Shenzhen Stock Exchange may decide to suspend the company’s listing.  In addition, as of the first quarter of this year, LeTV’s net net assets were zero.0763 yuan. According to the regulations, when the “financial accounting report of the most recent year shows that the audited net assets 四川耍耍网 at the end of the year is negative”, the issuance may decide to suspend listing.  Taken as a whole, among the Shenzhen companies, the risk of being suspended by * ST Huaze is the highest.  There are more than 100 companies that have been suspended from listing in history. According to data from Wind, there are more than 100 companies that have been suspended from listing in A-share history.Since 2010, about 40 companies have been suspended from listing, and about a quarter of them have been delisted by the exchange.  In the Air Force in 2017, the companies that were suspended from listing were: * STene Carbon, * STJean, * STKunji, * ST Jianfeng, * ST vanadium titanium, of which * ST Jianfeng, * ST vanadium titanium hasSubmit an application for resumption of listing to the exchange.  Source: Securities Times Original Title: Big Investigation of Delisting Risk Stocks!After the two companies decide to delist, these companies are at the highest risk (list)