In 2021, the performance disclosure has entered the peak period, and it is time for several companies to rejoice and several companies to worry.
For companies that are subject to delisting risk due to financial delisting indicators, the financial report of 2021 is the key point. If the company’s performance improves, the company is expected to “pick the hat and star”, but if the performance continues to deteriorate, it may be terminated from listing.
On April 25, Shanghai Greencourt Investment Group Co.Ltd(600695) released the financial report for 2021. The audited net profit of the company after deducting non recurring profits and losses in 2021 was negative, and the operating income was less than 100 million yuan. According to the Listing Rules of Shanghai Stock Exchange, the listing of A-Shares and B shares of the company may be terminated, and the trading of the company’s shares will be suspended from April 26.
At the same time, some companies that have issued announcements that may be terminated from listing have delayed submitting their annual reports, but as the deadline of the annual report approaches, there is little time left for the company to consider.
Shanghai Greencourt Investment Group Co.Ltd(600695) touch on termination of listing
On April 26, Shanghai Greencourt Investment Group Co.Ltd(600695) released the financial report for 2021, realizing an annual operating revenue of 977493 million yuan; The net profit attributable to the shareholders of the listed company was 216176 million yuan; The net profit attributable to non recurring shareholders of the listed company is -31.62 million yuan.
As the audited net profit attributable to the shareholders of the listed company in 2020 is negative and the operating income is less than RMB 100 million, the company’s shares have been warned of delisting risk. The annual report of 2021 shows that the net profit of the company after deducting non recurring profits and losses in 2021 is negative, and the operating revenue is less than 100 million yuan.
According to article 9.3.11 (1) of the Listing Rules of Shanghai Stock Exchange, the listing of A-Shares and B shares of the company may be terminated. The trading of the company’s shares (a share abbreviation: Shanghai Greencourt Investment Group Co.Ltd(600695) , stock code: Shanghai Greencourt Investment Group Co.Ltd(600695) ; B share abbreviation: Shanghai Greencourt Investment Group Co.Ltd(600695) b, stock code: 900919) will be suspended from Tuesday, April 26.
At the same time, the company also received the prior notice of the exchange on the proposed termination of the listing of the company’s shares. Because the company’s shares have touched the conditions for termination of listing, the exchange plans to make a decision on the termination of the listing of the company’s shares.
If it is decided to terminate the listing of the company’s shares, according to the provisions of the stock listing rules of Shanghai Stock Exchange, the trading of the company’s shares will enter the delisting consolidation period, and the trading period is 15 trading days. Within 5 trading days after the expiration of the delisting consolidation period, the Shanghai Stock Exchange shall delist the shares of the listed company, and the listing of the company’s shares shall be terminated.
From the company’s performance in recent years, the company’s revenue did not exceed 100 million yuan, and the revenue fell to only 26 million yuan in 2020. In 2021, the company’s non-performing assets business achieved certain operating income and profits, and made gains from the disposal of industrial real estate of shenzhuan highway and some Shenwan Hongyuan Group Co.Ltd(000166) stocks. The company’s revenue suddenly increased sharply to 98 million yuan, but still did not exceed 100 million yuan.
According to relevant regulations of the exchange, the company’s non-performing assets business income shall be deducted, and the profits generated by this part of business shall be included in non recurring profits and losses. Although the net profit of the company in 2021 turned from loss to profit, the deduction of non net profit was -31 million yuan, which touched the situation of termination of listing in the financial category of the exchange.
According to the financial report data released by the company, the number of shareholders of the company was 54100 by the end of the first quarter of 2022.
company’s share price fell by 80%
Statistics show that Lvting investment is mainly engaged in investment and asset management in the field of real estate. In the field of real estate investment, the company invests in the stock property in various ways, transforms and operates it through professional management, and obtains investment income. Since 2020, the company’s investment business has focused on the business direction of non-performing assets, and purchased non-performing assets from non-performing asset markets dominated by banks and AMC by participating in open market auction or agreement transfer.
In recent years, the state’s regulatory policies on overseas investment, real estate and asset management have been adjusted. The company said that changes in regional economy, real estate financing policies and asset management business policies may have a certain impact on the company’s business. The company will adjust the business structure and business model according to the policy requirements, but there is still a risk of adverse adaptation to the policy adjustment.
In 2021, the company’s investment business focused on the non-performing assets business with distressed real estate as the underlying assets. The company said that for non-performing asset projects such as debt investment and financial assets measured at fair value and whose changes are included in the current profit and loss, the company faces the credit risk from the original debtor or guarantor and the market risk of changes in the value of collateral. The actual or possible deterioration of the debtor’s or its guarantor’s credit, the decline of the value of the collateral and the decline of the debtor’s profitability may lead to the deterioration of the quality of the company’s non-performing assets and the company’s longer than expected disposal of such assets, which may have a significant adverse impact on the company’s operating performance and financial condition.
According to the third quarterly report of 2021, the company’s revenue increased to 52 million yuan, and the net profit attributable to the shareholders of the parent company and the net profit attributable to the shareholders of the parent company after deducting non profits are positive. Many investors may think that the company may “take off its hat” after the announcement of the 2021 financial report. Shanghai Greencourt Investment Group Co.Ltd(600695) share price has risen one after another. On November 11 last year, the share price of the company once rose to 8.72 yuan, but then the share price of the company continued to fluctuate and decline.
On January 27 this year, Shanghai Greencourt Investment Group Co.Ltd(600695) released the performance forecast for 2021. It is estimated that the net profit attributable to the shareholders of the listed company will be 18 million yuan to 27 million yuan in 2021, but the net profit excluding non recurring profits and losses attributable to the shareholders of the listed company is expected to be – 35 million yuan to – 25 million yuan in 2021, and the revenue is expected to be 70 million yuan to 105 million yuan.
This means that there is still great uncertainty about whether the company can “take off its hat”. After the announcement of the performance forecast, Shanghai Greencourt Investment Group Co.Ltd(600695) share price has fallen by the limit one after another. Recently, as the financial report disclosure day is approaching, the company’s share price has fallen by the limit again. On April 25, Shanghai Greencourt Investment Group Co.Ltd(600695) share price fell by the limit to 1.7 yuan, and has dropped 80% since the peak price of 8.72 in mid November 2021.
some ST companies delayed submitting annual reports
Some companies that were expected to disclose the company’s annual report on April 26 chose to delay the submission of the annual report.
On April 25, Shenzhen Danbond Technology Co.Ltd(002618) announced that it was originally scheduled to disclose the company’s annual report for 2021 and the report for the first quarter of 2022 on April 26, 2022. Because the preparation work has not been completed yet, accountants need to implement audit procedures for the company’s revised data and cannot disclose it at the appointed time. The disclosure time of the company’s annual report in 2021 and the first quarter report in 2022 will be postponed to April 30, 2022.
At the same time, the company also announced that in view of the preliminary communication opinions issued by Guangshen certified public accountants in the first draft of the company’s 2021 annual financial statement audit report, the company expects that the 2021 annual financial accounting report may be issued with an audit report that cannot express an opinion.
The company’s audited net profit before and after deducting non recurring profits and losses in 2020, whichever is lower, is negative, and the annual operating income is less than 100 million yuan. The financial statements in 2020 were issued with an unqualified opinion by Asia Pacific (Group) accounting firm (special general partnership), and the internal control audit report in 2020 was issued with a negative opinion by Asia Pacific (Group) accounting firm (special general partnership), It touches on the implementation of delisting risk warning and other risk warning provisions in the stock listing rules of Shenzhen Stock Exchange (revised in 2020). The company’s stock trading has been implemented “delisting risk warning” and “other risk warning” since April 30, 2021.
In addition, Beijing Shuzhi Technology Co.Ltd(300038) , Jiangsu Huasheng Tianlong Photoeletric Co.Ltd(300029) also postponed the disclosure of the annual report of 2021 and the report of the first quarter of 2022 Beijing Shuzhi Technology Co.Ltd(300038) 2021 the disclosure date of the annual report is extended from April 26, 2022 to April 29, 2022 Jiangsu Huasheng Tianlong Photoeletric Co.Ltd(300029) will disclose the annual report of 2021 and the first quarter report of 2022 on April 29, 2022.
Analysts pointed out that for some ST companies that lack sustainable operation ability, poor performance or continuous loss making enterprises and have serious financial fraud, as the deadline for financial disclosure approaches, the company will also usher in the last critical moment, which investors should pay special attention to.
