From nearly delisting to “coming back from the dead” through bankruptcy reorganization, Fujian Start Group Co.Ltd(600734) , which gained 21 boards, ushered in the first trading day after suspension verification.
On March 25, Fujian Start Group Co.Ltd(600734) opened again, rising by 4.89% to 3.43 yuan.
Due to the soaring share price, Fujian Start Group Co.Ltd(600734) has been suspended for verification for many times since this year. Less than two weeks after the issuance of the suspension verification announcement on March 4, Fujian Start Group Co.Ltd(600734) again started the suspension verification due to abnormal fluctuations in stock trading on March 17.
It is worth mentioning that from February 11, 2022 to the closing on March 17, 2022, Fujian Start Group Co.Ltd(600734) shares have won 21 trading boards in a row.
share price fluctuated sharply
Fujian Start Group Co.Ltd(600734) 3 announced on March 24 that the company has verified and confirmed that, except for the information disclosed by the company, the company does not have any matters that should be disclosed but not disclosed or planning, negotiation, intention, agreement, etc. related to such matters. The board of directors has not been informed of the material information that may have a great impact on the trading price of the company’s shares and their derivatives that should be disclosed but not disclosed. The information disclosed by the company in the early stage does not need to be corrected or supplemented.
Due to the reorganization, the stock price of Fujian Start Group Co.Ltd(600734) , once called Shida computer, experienced a huge shock. First, from February 8 to 10 this year, the one word limit fell continuously, and then the Earth Sky board was staged on February 11. After the reorganization and ex right on February 15, 14 one word limit rose continuously.
According to the data of China Securities Taurus, from February 11 to March 4, Fujian Start Group Co.Ltd(600734) rose the limit for 15 consecutive trading days, with a cumulative increase of 108.55%.
On March 4, Fujian Start Group Co.Ltd(600734) issued an announcement on the verification of stock trading suspension. However, after the resumption of trading of the company’s shares on March 10, the share price continued to rise by the limit. As of March 17, it had harvested 21 consecutive boards, with a cumulative increase of nearly 180%. The second suspension verification was announced that night.
As of press time, the Fujian Start Group Co.Ltd(600734) share price is 342 million yuan, with a total share capital of 2.178 billion shares, including 2.091 billion shares in circulation, with a total market value of 7.472 billion yuan.
benefited from the favorable entry of Fujian SASAC
Fujian Start Group Co.Ltd(600734) landed in the capital market in 1996 under the halo of “China’s first it listed company”. From 2018 to 2020, the company’s net profit suffered continuous losses and its share price also fell all the way. During this period, the share price once fell below 1 yuan.
The news of the entry of Fujian SASAC has brought this enterprise on the verge of delisting back to life. On December 27, 2021, the company disclosed that Fujian big data, an enterprise 100% owned by Fujian SASAC, promised to inject high-quality assets into it. On December 31, 2021, Fujian Start Group Co.Ltd(600734) announced that the company had received 900 million yuan of funds from restructuring investors, and the restructuring plan had been successfully implemented.
At the end of January this year, Fujian Start Group Co.Ltd(600734) once issued a performance forecast. It is estimated that the net assets at the end of 2021 will be about 444 million yuan, and the net profit attributable to the parent company will be 590767 million yuan, turning losses into profits year-on-year. The main reasons are that the company’s bankruptcy reorganization plan has been implemented, the corresponding debt restructuring income is included in the current year, and the company disposes of corresponding non current assets according to the reorganization plan. Subsequently, on February 23, the company announced that its controller was changed from the Management Committee of Zhengzhou airport port area to the state owned assets supervision and Administration Commission of Fujian Province.
Analysts said that from 2018 to 2020, there were consecutive years of losses, and the net assets in 2019 and 2020 were negative. If there was another loss in 2021, it would trigger delisting. Under such circumstances, the company went bankrupt and reorganized, turned losses and became positive in net assets. The market expectation was very strong, which led to the sharp rise of stock price, mainly due to the favorable expectation of the market for the entry of SASAC and the injection of relevant high-quality assets. However, it must also be pointed out that the current trading volume has begun to enlarge, and relevant investors should be vigilant against risks.
