During the disclosure season of the annual report, companies with delisting risk are “busy”!
According to incomplete statistics, on January 28, more than 30 A-share companies issued risk warning announcements that their shares may be terminated from listing.
performance drag
Among the companies with delisting risk, there are many companies that may “step on” the new delisting regulations due to performance reasons.
Northeast Electric Development Company Limited(000585) because the audited net profit after deducting non recurring profit and loss in 2020 is negative, the operating income is less than 100 million yuan, the audited net assets at the end of the period are negative, and the net profit after deducting non recurring profit and loss in three consecutive fiscal years in 2018, 2019 and 2020 is negative, and the audit report in 2020 shows that there is uncertainty in the company’s sustainable operation ability, After the disclosure of the 2020 annual report of the company’s A-share shares on March 29, 2021, the delisting risk warning continues to be implemented after superposition.
However, the performance in 2021 is not ideal. Northeast Electric Development Company Limited(000585) disclosed on the evening of January 28 that it is expected to deduct non net profit loss of 10.7 million yuan to 16 million yuan and operating income of 80 million yuan to 100 million yuan in 2021.
Among the reasons for the loss, Northeast Electric Development Company Limited(000585) mentioned that at the beginning of 2021, affected by the reorganization of the indirect controlling shareholder HNA Group and its related parties, the company fully accrued the equity investment loss of Chongqing HNA Hotel Investment Co., Ltd. and the deposit credit impairment of HNA Group Finance Co., Ltd., totaling about 120 million yuan.
Hubei Wuchangyu Co.Ltd(600275) the net profit before and after non deduction in 2020 is negative, and the operating income after special deduction is less than 100 million yuan, touching the situation of “financial delisting risk warning”. The net profit of the company before and after deducting non recurring profits and losses in the three fiscal years of 2018, 2019 and 2020, whichever is lower, is negative. The audit report in 2020 was issued with an unqualified opinion with emphasis on “there is still significant uncertainty in the ability of sustainable operation”, touching the situation of “other risk warning”.
Hubei Wuchangyu Co.Ltd(600275) it is estimated that the operating revenue in 2021 will be about 110 million yuan, and the net profit before and after deduction will be – 28.5 million yuan and – 34.5 million yuan respectively. As for the reasons for the loss, the company said that it was mainly due to the large amount of loss of the invested enterprise in 2021, and the company accrued investment loss, with an impact amount of about 27.2 million yuan.
sad “audit off”
Many companies are also “stuck” in the audit link.
Ccoop Group Co.Ltd(000564) in the 2020 financial accounting report, the annual audit institution issued an audit report with significant uncertainties related to sustainable operation, and the company’s shares continued to be warned of delisting risk since the opening of the market on April 30, 2021.
If the company’s 2021 annual report touches the relevant provisions, the company’s shares will face the risk of delisting. Ccoop Group Co.Ltd(000564) it is estimated that the non net profit deduction loss in 2021 will be RMB 900 million to RMB 1.4 billion. In December 2021, the CSRC decided to file a case against the company on suspicion of illegal information disclosure.
Hna Innovation Co.Ltd(600555) the type of audit opinion of 2020 financial report is “qualified opinion”. According to the relevant provisions of the listing rules, if the audited financial accounting report of the latest fiscal year disclosed by the company has any of the circumstances specified in items (1) to (3) of paragraph 1 of article 9.3.2 or the financial accounting report is issued with a qualified opinion audit report, the company will face the risk of delisting.
In terms of performance, Hna Innovation Co.Ltd(600555) is expected to deduct non net profit of – 146 million yuan to – 219 million yuan in 2021. The company said that due to the impact of the macro environment and the downturn of the real estate market, the company’s subsidiary sold some villa properties located in Jiulongshan tourist resort, resulting in certain losses; Some villas of the company’s subsidiaries were auctioned by the judiciary, resulting in expected investment income loss, etc.
23 companies delisted in 2021
Faced with delisting pressure, selling assets, surprise mergers and acquisitions and other methods used to be the company’s “lifeline”. With the continuous improvement of delisting system and the continuous strengthening of delisting supervision, these means will not work, and delisting will be gradually normalized.
According to the data, 23 companies were delisted in 2021.
According to the data released by the Shanghai Stock Exchange, 14 companies have delisted in Shanghai since the release of the new delisting regulations on December 31, 2020.
The 2021 annual report supervision meeting of listed companies under the jurisdiction of Beijing Securities Regulatory Bureau recently disclosed that after the disclosure of the 2020 annual report, 7 companies under the jurisdiction of Beijing were given delisting risk warnings and 5 companies were given other risk warnings. According to the internal control audit report in 2020, two listed companies under the jurisdiction of Beijing were given negative opinions.
Beijing Securities Regulatory Bureau said that in 2022, it will focus on avoiding delisting, illegal information disclosure, corporate governance, mergers and acquisitions, science and innovation board and other areas of supervision.
