Combined with the operating conditions of these ST companies, the continued downturn in stock prices and the fundamentals that are difficult to change in the short term have led to a sharp increase in the pressure on these companies to retain their shells. Previously, several securities firms also mentioned in the study, Shells value will continue to be under pressure.
Share price below 1 yuan
Shell Pressure Rises Suddenly
From the situation of 52 companies, we can see that many companiesshare prices have been hovering at the edge of less than 1 yuan per share, and many of them have fallen below the red line of 1 yuan per share.
* ST Major Control announced earlier that on June 10, the closing price of the companys stock was 0.98 yuan per share, and the closing price of the stock was lower than the face value of the companys stock. According to the Shanghai Stock Exchange Stock Listing Rules, if the closing price of a companys stock is lower than the face value of the stock for 20 consecutive trading days (excluding the suspension date of the companys stock), the companys stock will be terminated from listing.
In addition, according to the Rules for Stock Listing of Shanghai Stock Exchange, if the closing price of a companys stock is lower than the par value of the stock for 10 consecutive trading days (excluding the suspension date of the companys stock), it shall issue a notice of the risk that the companys stock may be suspended from listing on the next trading day, and then disclose it once every trading day until the closing price is lower than the par value of the stock. The date on which the situation is eliminated or the companys stock is terminated.
For the above situation, * ST said that the board of directors and management attach great importance to and pay close attention to. Up to now, the company is operating normally, the company is trying to stabilize and improve the basic aspects of the companys operation, to provide a favorable guarantee for the follow-up operation.
On June 13, STC issued several announcements, referring to the net signing of the Framework Agreement on Corporate Acquisition by the wholly-owned subsidiary Shanghai Zhaoyu Science and Technology Co., Ltd., Huifeng Construction Group Co., Ltd. and Zengshi Natural Person to acquire 100% of Zining Construction Group Co., Ltd. in cash.
The positive impact of the acquisition on the * ST control is obvious. Data show that on June 13, the * ST control price rose by 5.16%, temporarily getting rid of the dilemma of the stock price below 1 yuan per share.
However, on June 13, the company received a letter of inquiry from the Shanghai Stock Exchange requesting the company to explain the related matters of the acquisition, as well as supplementary disclosure of whether the counterparty of the transaction has an affiliation with the company, the main assets and business operations of the underlying assets, whether the underlying assets are subject to property rights restrictions such as mortgage litigation, whether there are other undisclosed underlying assets, and the present transaction. Easy pricing, payment arrangements and payment methods. Moreover, the inquiry also mentioned that the company is currently under investigation by the SFC. According to the Regulations of the Securities Regulatory Commission on the Management of Major Asset Restructuring of Listed Companies, listed companies can neither issue shares nor implement major asset restructuring that constitutes a reorganization and listing during the filing and investigation period. According to the companys announcement, this asset acquisition constitutes a major asset reorganization. Comparing with the relevant provisions, the company is requested to explain whether the asset acquisition and subsequent related arrangements are lawful and compliant, as well as the information disclosure obligations and related specific procedures to be fulfilled.
Seventeen ST Companies
Share prices fell more than 50% in the year.
Behind the declines in the share prices of ST companies, the value of shell resources was revalued in 2019.
According to public data, many securities firms believe that the regulatory authorities should further implement and improve the delisting system, dredge the export channels of capital market, speed up the clearance of major illegal and illegal companies, zombie enterprises, shell companies and other inferior enterprises, promote the ecological purification of the market, and truly open the curtain of normalization of delisting. The fundamentals of listed companies are the foundation of the long-term healthy development of the stock market. Enterprises that seriously disrupt market order and touch the delisting criteria will be resolutely delisted and withdrawn to the end, so as to promote the timely clearance of zombie enterprises and shell companies and improve the quality of Listed Companies in stock. There are reports.
Based on these considerations, ST companys stock price has fallen a lot this year. According to iFinD data from Tonghuashun, 17 ST companies have fallen by more than 50% since this year.
Source: Liable Editor of Securities Daily: Yang Qian_NF4425