Triggering the suspension of listing, * ST Xinwei will be suspended from April 21, and the SSE will decide whether to suspend the listing of the companys shares within 15 trading days after the suspension of listing. Normally, there is no suspense about suspending listing.
According to the latest data, * ST Xinweis closing price is 1.39 yuan, the total market value is still 4.06 billion yuan, and the number of shareholders is 123600.
Huge loss of RMB 18.4 billion triggered suspension of listing
On the evening of April 20, * ST Xinwei issued its 2019 annual report, with a huge loss of 18.436 billion yuan, which is the third consecutive year of loss of the stock. Meanwhile, the stock continued to be audited by an accounting firm in 2019, which has triggered the suspension of listing rules.
Prior to that, * ST Xinwei has lost money for two consecutive years, with a loss of 1.754 billion yuan and 2.898 billion yuan in 2017 and 2018.
According to the relevant provisions of the Shanghai Stock Exchange, * ST Xinwei stock will be suspended from the date of disclosure of the companys 2019 annual report (April 21), and the Shanghai Stock Exchange will decide whether to suspend the listing of the companys shares within 15 trading days after the date of suspension.
According to past practice, there is no suspense about suspension of listing, and only the procedures of the exchange can be handed over. *St Xinwei said that the company will suspend the listing of the companys shares after receiving the decision of Shanghai Stock Exchange on suspending the listing of the companys shares.
Once valued at $200 billion, its down 98%
At the peak in June 2015, the market value of * ST Xinwei reached RMB 19.6 billion. Now the share price has plummeted by 98%, and the market value is only RMB 4.06 billion.
However, at the end of 2016, Xinwei was questioned by the media about the financial fraud, especially after the fraud of overseas business. After the suspension of trading for more than two years, Xinweis stock price continued to drop and stop for 42 consecutive words after the resumption of trading in July 2019, with continuous loss and debt crisis.
Mysterious real controller and the story of the past
According to the public information, Wang Jing, the legal person, is the chairman and President of * ST Xinwei. In the early years, under the control of Wang Jing, the actual controller, the market value of * ST Xinwei once reached nearly 200 billion yuan and was once included in MSCI China A-share index.
According to the previous report of China Fund News, Wang Jing attracted the attention of the whole world by excavating the Nicaragua canal in 2014, with a total investment of 50 billion US dollars. According to the agreement, Wang Jings private company, Hong Kong Nicaragua canal development Investment Co., Ltd., will excavate a canal in Nicaragua to connect the Pacific Ocean and the Atlantic Ocean. Previously, Wang Jing met Nicaraguan President Daniel Ortega through local telecom investment. After the completion of the canal, Wang Jings company will obtain 100 years of franchise rights.
In an interview with foreign media, Wang Jing didnt want to talk about the details of his wealth accumulation. He used the idiom gathering armpits to make a fortune to describe the process. The huge investment in Nicaragua canal is also said to have nothing to do with Wang Jings assets in Xinwei group. On the international stage, the young businessman is known as the mysterious tycoon.
In foreign media reports, he stressed that he was an ordinary person and that his father was an ordinary worker, he stayed in a hospital for 11 years, died in 2010, his mother had retired, and there was also a daughter. He summed up his life before 2010 as studying financial investment in Hong Kong and opening gold mines in Cambodia.
Wang Jing, born in December 1972, has publicly introduced that he was born in Beijing and studied Chinese medicine at Jiangxi University of traditional Chinese medicine. At one time, Wang Jings fully controlled dayangxin River also planned to invest 10 billion US dollars in Crimea, Ukraine, to build a deepwater port project. According to media reports, dayangxin river once reached cooperation with Kiev Water Conservancy Investment Co., Ltd., Ukraine, and held a press conference. However, due to the sudden change of the situation in Ukraine, the above projects may be difficult to achieve in the end.
At the time of high share price in June 2015, Wang Jing also ranked among the top 200 richest people in the world according to Bloomberg billionaire index, with a net asset of US $10.2 billion.
Now, however, it feels like all is gone.
The listing and delisting of several shares have been suspended this year
*St Baoqian (previously referred to as baoqianli) announced in the evening of April 1 that the company had received the decision on the termination of listing of shares of Jiangsu baoqianli Video Technology Group Co., Ltd. issued by Shanghai Stock Exchange. Shanghai stock exchange decides to terminate the listing (delisting) of the companys shares.
*As a result, St Baoqian became the first company to be forced to stop listing since 2020. From 2015 to now, when Zhongda stock was withdrawn from the market, * ST Baoqians history is lamentable. *St Baoqian has been suspended from listing in 2019. After the annual report of 2019 was issued this year, it suffered a huge loss, and its net assets were negative, and it was issued an audit report with no opinion, triggering the mandatory delisting conditions.
Once, LETV, a big Internet stock, was on the verge of delisting
With the disclosure of the annual report of listed companies, it is expected that some companies will be delisted and suspended from listing due to performance loss and other reasons. LETV, which has attracted market attention, is expected to be delisted after the disclosure of the annual report, because it has predicted a huge performance loss in 2019.
Among the companies whose listing was suspended in 2019, according to the current performance forecast and express, LETV, St Kaidi, geeya technology, St Longli, Qianshan Pharmaceutical Co., Ltd. will continue to lose money in 2019 and the possibility of delisting is very high.
According to the loss in 2017 and 2018 and the performance loss in 2019, at present * ST Salt Lake and Shengyun environmental protection also face the risk of suspension of listing.
Among them, * ST Salt Lake in the first quarter of this year * ST Salt Lake has been turning losses into profits, with a forecast of a profit of 650 million yuan to 950 million yuan in the first quarter.
Shengyun environmental protection is expected to continue to lose 230 million yuan to 235 million yuan in the first quarter of this year, but the stock is planning a major asset restructuring, whether it will have a significant impact on 2019 performance and this years operation is uncertain.
Source: editor in charge of China Fund News: Yang bin_nf4368