*ST Kaile (626) may become the first delisting company in Shanghai this year.
on the evening of January 13th, *ST Kaile disclosed the performance forecast of the 222 annual report. The announcement shows that the company expects the net assets at the end of 222 to be-2.154 billion yuan to-2.322 billion yuan. After the disclosure of the annual report in 222, the company will touch the financial delisting index and be terminated from listing.
The risk announcement disclosed at the same time suggests that the company may also touch on various delisting situations, including: on December 2 last year, the company received the Notice of Administrative Punishment and Market Prohibition from the China Securities Regulatory Commission, and according to the Notice, the company has touched on the risk warning of mandatory delisting in major illegal categories; As of January 13th, the company's share price has been lower than that of 1 yuan for 11 consecutive trading days, which may lead to the delisting of trading.
Market analysts pointed out to the reporter of Securities Times E Company that, considering that the controlling shareholder of the company was deeply mired in the debt crisis and litigation, it was impossible to "save the market" objectively, and *ST Kaile's delisting was "certain".
It's a foregone conclusion to touch the financial delisting
Specifically, there are three main delisting situations that *ST Kaile will touch: First, it will touch the financial delisting indicators. The above performance forecast shows that the company expects the net assets at the end of 222 to be-2.154 billion yuan to-2.322 billion yuan, and the net assets at the end of last year (221) to be-1.815 billion yuan. According to the relevant provisions of the Stock Listing Rules of Shanghai Stock Exchange (hereinafter referred to as the Stock Listing Rules), the company will touch the financial delisting indicators and its shares will be terminated.
second, it may touch the situation of forced delisting due to major violations of laws. On the evening of December 2 last year, the company had received the Notice of Administrative Punishment and Market Prohibition made by the CSRC (hereinafter referred to as the Notice). The "Notice" shows that due to the alleged financial fraud in the private network communication business, there are false records in the company's regular reports from 216 to 22. After calculation, the company's net profit from 217 to 22 is negative. According to the Supervision Letter issued by the Shanghai Stock Exchange on the same day, according to the relevant contents of the Notice, the company may touch a major illegal forced delisting situation. On December 3, the company has also issued an announcement to continue to implement delisting risk warning because it may touch a major illegal forced delisting situation. If the subsequent receipt of the relevant administrative penalty decision clearly touches on the situation of mandatory delisting in violation of major laws, the company's shares will be suspended and forced to be delisted in violation of major laws.
thirdly, it may touch the delisting of transactions. Since the announcement of the above Notice, the company's share price has been falling continuously. As of January 13th, the share price has been lower than that of 1 yuan for 11 consecutive trading days, which is about to touch Article 9.2.1 of the Listing Rules. If the share price of the company is lower than that of 1 yuan for 2 consecutive trading days, the listing of the company's shares will be directly terminated.
It is worth noting that the current delisting of trading categories does not enter the delisting consolidation period. Once it falls below 1 yuan for 2 consecutive trading days, the company's stock will be suspended on the next trading day, and then the listing termination procedure will be started.
The controlling shareholder is in danger
Not only is *ST Kaile facing a crisis, but the company's controlling shareholder Keda Trading is currently mired in debt crisis and litigation, and most of its shares have been frozen by the judiciary. According to the company's announcement, from the end of 222 to 223, several custody brokers of controlling shareholders have executed the shares of controlling shareholders according to the court's ruling.
Eye-to-eye investigation shows that Keda Business has been involved in more than 4 judicial proceedings as a defendant.
market analysts believe that at present, the controlling shareholder of *ST Kaile has been unable to protect itself, and has no financial strength to participate in secondary market transactions to boost the company's share price, so as to avoid "1 yuan delisting" and realize "protecting the shell". According to the relevant provisions of the Stock Listing Rules, if a listed company has more than two cases of termination of listing, its shares shall be terminated according to the principle of first touching and first applying. From this point of view, it is only a matter of time before *ST Kaile withdraws from the market.
the reporter of securities times e company observed that some historically delisted companies, such as delisted green house and delisted easily, all experienced stock price declines while the performance forecast showed that the financial indicators might touch delisted. It can be seen that the market reacted quickly and directly after the company's delisted expectations were clear. At present, the share price of *ST Kaile has been lower than that of 1 yuan for 11 consecutive trading days, almost locking in the delisting of trading. It is foreseeable that if the company's share price is lower than that of 1 yuan for 2 consecutive trading days, the company's shares will be directly terminated from listing. In the future, once entering the trading category to terminate the listing procedure, investors who blindly follow the trend and fail to clear their positions in time will undoubtedly be trapped.
However, on January 13th, the share price of *ST Kaile was "flat on the ground", which seriously deviated from the fundamentals that the company's operation continued to deteriorate and it was on the verge of delisting.
"Judging from the previous cases of speculation before delisting, the supervision may take more stringent measures to crack down on the speculation of *ST Kaile's share price. Small and medium-sized investors must pay attention to and invest in the secondary market from the company's fundamentals, think rationally, and don't take advantage of the fire. Participating in the game of' Bo Rebound' and' pass the parcel' will only harm their own interests in the end. " Shanghai local professionals pointed out.