White Knights Rescue?* ST Huaxins Fair Value Delivery Gate on the Skyline

category:Finance
 White Knights Rescue?* ST Huaxins Fair Value Delivery Gate on the Skyline


In order to get rid of the debt crisis and business dilemma as soon as possible, Zhongzhou Carbon actively communicates with the company and agrees to sign necessary restructuring documents as soon as possible, including, but not limited to, the Voting Rights Entrustment Agreement, the Share Transfer Agreement and the Asset Restructuring Agreement.

As for the impact of this agreement, the announcement points out that the signed agreement of intent expresses the initial intention of both parties on the restructuring of the company. If the specific restructuring plan can be implemented and implemented, it can promote the resolution of the companys debt crisis, alleviate the pressure of the companys operation, and have a positive impact on the companys sustainable operation.

After the announcement, the Shenzhen Stock Exchange quickly issued a letter of concern. As * ST Huaxin is being investigated by the CSRC for suspected false records in its annual report of 2017, while listed companies are not allowed to issue shares to purchase assets during the investigation by the CSRC, and large shareholders are not allowed to reduce their holdings of the company. The letter of concern requires * ST Huaxin to supplement the feasibility and compliance of the signing of restructuring documents by both parties.

At the same time, according to the agreement of reorganization intention, Shenzhen Stock Exchange requires * ST Huaxin to disclose the brief situation of Zhongzhou Carbon including organizational structure, financial strength, talent reserve and so on. It also details the main business and operation mode of Zhongzhou Carbon, and analyses whether there are products, customers, purchasing, technology and other parties with listed companies. The synergistic effect of surface.

For the background of this cooperation, the announcement described very little. According to the known information, it can only be judged that this is a scientific and technological enterprise engaged in the production, research and development and sales of carbon products.

Enterprise survey information shows that the suspected actual controller after equity penetration is Pang Xinying, the actual controller of Guangzhou Weide Investment Consulting Co., Ltd. It has eight enterprises under its name, all of which are registered in Guangzhou, except one catering enterprise, all of which are financial enterprises and leasing service enterprises.

Share price below 1 yuan for 15 consecutive days

On the evening of August 8, * ST Huaxin issued its fifth risk alert announcement that the companys shares may be terminated. Up to now, the companys stock has been trading for 15 consecutive days less than one yuan.

According to Section (18) of Article 14.4.1 of the Rules for Stock Listing of Shenzhen Stock Exchange, the daily closing price of a listed company issuing only A shares on the Shenzhen Stock Exchange is lower than the par value of the stock through the trading system of the stock exchange for 20 consecutive trading days (excluding the trading day when the companys stock is suspended all day). The ownership of Shenzhen Stock Exchange decided to terminate the listing of the companys shares.

Based on the closing price of 0.78 yuan per share on August 9, it is assumed that the company can temporarily withdraw from the market only after five consecutive trading days.

Based on rounding principle, the 20th trading day will close at 0.9975 yuan, or 1 yuan. One yuan is recovered on the last trading day and the 20-day cycle can be recalculated.

Previously, the A-share market was mostly difficult to list, more difficult to delist, so that hoarding resources were looted by the market. In recent years, management has begun to advocate value investment and long-term investment, especially in the context of the severe delisting, the relevant junk stocks have no room for speculation. At present, the closing prices of * ST Huaxin, * ST Huaye, * ST Dachao and * ST Opu are all below 1 yuan. Among them, * ST Huaxin has the lowest share price. Many other stocks are priced between $1 and $1.1. Industry insiders believe that denomination delisting is becoming a new way for A-share delisting. Prior to this, because of falling below the par value of 1 yuan, Zhonghong shares became the first A-share denomination delisting share. On August 1, * ST Eagle announced that the companys stock has closed for 20 consecutive trading days at a price lower than the face value of the stock (i.e. 1 yuan). According to relevant regulations, the companys stock has been suspended since August 2. At present, the * ST Eagle is still waiting for the final judgment of Shenzhen Stock Exchange. Source: Responsible Editor of Securities Times: Yang Bin_NF4368

Previously, the A-share market was mostly difficult to list, more difficult to delist, so that hoarding resources were looted by the market. In recent years, management has begun to advocate value investment and long-term investment, especially in the context of the severe delisting, the relevant junk stocks have no room for speculation.

At present, the closing prices of * ST Huaxin, * ST Huaye, * ST Dachao and * ST Opu are all below 1 yuan. Among them, * ST Huaxin has the lowest share price. Many other stocks are priced between $1 and $1.1. Industry insiders believe that denomination delisting is becoming a new way for A-share delisting.

Prior to this, because of falling below the par value of 1 yuan, Zhonghong shares became the first A-share denomination delisting share.

On August 1, * ST Eagle announced that the companys stock has closed for 20 consecutive trading days at a price lower than the face value of the stock (i.e. 1 yuan). According to relevant regulations, the companys stock has been suspended since August 2. At present, the * ST Eagle is still waiting for the final judgment of Shenzhen Stock Exchange.