Incredible! In such a depressed market, a ST company even pulled 24 daily limit sectors, and its market value soared to 8.23 billion yuan. What funds are hyping Fujian Start Group Co.Ltd(600734) ?
Behind the madness, there are many uncertainties. An announcement disclosed by the company after hours surprised "speculators".
for the asset injection of Fujian Xingyun big data application service Co., Ltd., which has high market expectations, the controlling shareholder said that there is no asset injection plan at present
behind the crazy Fujian Start Group Co.Ltd(600734) share price, the snowball of risk is rolling bigger and bigger. Market analysts believe that in the future, with the disappearance of the so-called positive expectations, the stock price will fall from the high level. At this time, how can retail investors who take over the high level retreat?
controlling shareholder:
currently there is no plan to inject assets
The reporter noted that one of the driving factors of Fujian Start Group Co.Ltd(600734) this continuous limit rise is the restructuring expectation after the company completes the reorganization. After the reorganization, Fujian big data company will become the controlling shareholder of Fujian Start Group Co.Ltd(600734) and Fujian SASAC will become the actual controller of Fujian Start Group Co.Ltd(600734) .
Many investors believe that the injection of asset companies under Fujian big data into the listed company system will become a matter of certainty.
However, Fujian Start Group Co.Ltd(600734) made it clear in the announcement of abnormal fluctuations in stock trading disclosed today that the controlling shareholders of company currently have no plans to inject Nebula big data and other assets into the company, and the company and its controlling shareholders have no plans, negotiations, intentions and agreements related to the injection of the above assets that should be disclosed but not disclosed
Screenshot source: announcement of the company on the evening of the 29th
Public information shows that Fujian big data company undertakes the important task of building a "Digital Fujian". By the end of 2022, Fujian big data company will undertake the construction tasks of eight systems, including provincial public data development and application, provincial government information system construction and operation and maintenance, and provincial portal website integration and operation and maintenance.
first three quarters loss of 2.98 million
big data company's profitability in doubt
From the main financial data of big data company disclosed, its sustainable profitability is in doubt.
First of all, the operating revenue of big data company fluctuates greatly and shows a downward trend. The operating revenue of the company in 2019 and 2020 is 283.49 million yuan and 476.11 million yuan respectively. However, as of the third quarter of 2021, the operating revenue was 225.18 million yuan, accounting for only 47.30% of the whole year of 2020.
On the other hand, the profitability of big data company is not outstanding. The net profit margin in 20192020 is only 6% and 4%. As of the third quarter of 2021, the net profit is - 2.98 million yuan
According to the relevant rules of major asset restructuring, it is difficult for a loss making enterprise to pass the review of restructuring. The operating income of big data company fluctuates greatly, and the performance declines significantly. There is still great uncertainty when it can meet the injection conditions. Even if it is injected into a listed company, it is difficult to improve the fundamentals of Fujian Start Group Co.Ltd(600734) .
less than two years, three CFOs
On July 30, 2021, Cao Yuanpei, former chief financial officer of Fujian Start Group Co.Ltd(600734) applied for resignation from the post of chief financial officer of Fujian Start Group Co.Ltd(600734) on the ground of "the company owed his salary", and did not hold any post in the company thereafter.
since November 2019, three CFOs of Fujian Start Group Co.Ltd(600734) . From November 28, 2019 to March 20, 2020, Guo Chunguang served as the chief financial officer of Fujian Start Group Co.Ltd(600734) ; Zhao Yonghong served from May 20, 2020 to June 11, 2020; Cao Yuanpei will serve from July 31, 2020 to July 30, 202 7
The reporter noted that although personal reasons became the reason for the resignation of Fujian Start Group Co.Ltd(600734) more than Dong Jiangao, the punishment previously given by the supervision showed that it was not so simple. Taking the warning letter issued by Fujian securities regulatory bureau to Fujian Start Group Co.Ltd(600734) in April 2021 as an example, the reason for the warning letter is that the performance forecast of the company is inaccurate and not corrected in time, and the overdue large guarantee and litigation matters are not disclosed in time.
Public information shows that the chief financial officer of the company is currently served by Zhou Le, executive president and vice chairman.
star picking and hat picking in doubt
Another risk is that there is still uncertainty about whether Fujian Start Group Co.Ltd(600734) can successfully achieve "star picking and hat picking". Due to the negative net assets in 2020, the delisting risk warning of the company's shares will continue to be implemented in 2021. Although the company has completed bankruptcy reorganization by the end of 2020, whether the debt proceeds from reorganization can make the net assets positive still needs the final audit opinion of the annual audit accountant.
In the change announcement, the company also highlighted the relevant situations that may still trigger financial compulsory delisting indicators. The company is suspected of violating laws and regulations in information disclosure, and is currently under investigation by the CSRC . If the company is subject to administrative punishment by the CSRC for filing an investigation and touches the situation of major illegal compulsory delisting stipulated in the listing rules according to the facts determined by the administrative punishment decision, the company's shares will also face the risk of major illegal compulsory delisting.
In addition, the company's relevant financial situation shows that the company's non net profit deducted in recent three fiscal years is negative , which does not rule out the audit report of the highlighted event segment with uncertainty in the ability to continue as a going concern issued by the annual audit accountant for the above reasons. In fact, even if the company does not touch the compulsory delisting index, it will eventually "pick the star but not the hat" because the above situation touches the relevant provisions of other risk warnings in the stock listing rules of the exchange.
Market analysts believe that at present, the rise of the company's share price has seriously deviated from the company's fundamentals. The rapid rise of stock price in a short time and the blind follow-up of retail investors will lead to inertia effect. At this time, the risk continues to accumulate and spread. In the future, with the disappearance of the so-called positive expectations, the stock price will fall from a high level. At this time, retail investors who take over the stock at a high level cannot sell in time and can only bear the losses caused by the decline of the stock price. Therefore, small and medium-sized investors must carefully analyze the actual situation of the company and pay attention to the downside risk after the short-term rise of stocks.
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