Who will be the first delisting stock with par value in 2022? At present, Xinjiang Yilu Wanyuan Industrial Investment Holding Co.Ltd(600145) is temporarily “ahead”. As of January 21, Xinjiang Yilu Wanyuan Industrial Investment Holding Co.Ltd(600145) had fallen below the face value of 1 yuan for four consecutive days. If the daily closing price is lower than 1 yuan for 20 consecutive trading days, Xinjiang Yilu Wanyuan Industrial Investment Holding Co.Ltd(600145) will be terminated. In the view of the industry, with the implementation of the comprehensive registration system, the delisting rules of A-Shares are expected to be further optimized in the future, the delisting standards will be further detailed and diversified, and the number of A-share delisting companies may increase significantly.
the share price fell below 1 yuan again
Recently, Xinjiang Yilu Wanyuan Industrial Investment Holding Co.Ltd(600145) closed below the limit, and its share price fell below 1 yuan, becoming the first stock whose share price “fell below 1 yuan” in 2022. According to the current regulations, if the daily closing price is lower than 1 yuan for 20 consecutive trading days, Xinjiang Yilu Wanyuan Industrial Investment Holding Co.Ltd(600145) will be terminated from listing, or become the first company to be delisted due to “1 yuan” in 2022.
The reporter noted that this is not the first time that Xinjiang Yilu Wanyuan Industrial Investment Holding Co.Ltd(600145) is on the verge of delisting. Market data show that in late January 2021, the company’s share price once fell below 1 yuan and the lowest fell to 0.85 yuan. Since then, Huang Wei, the actual controller of Xinjiang Yilu Wanyuan Industrial Investment Holding Co.Ltd(600145) , worked hard to “protect the market” and also threw out a plan to increase the holdings by 50 million yuan to 100 million yuan, but the final increase amount was only 36.8049 million yuan, completing 73.61% of the lower limit of the increase plan. Under the protection of the actual controller’s increased holdings, Xinjiang Yilu Wanyuan Industrial Investment Holding Co.Ltd(600145) share price once rose to more than 2.5 yuan.
However, the good times did not last long. With the coming of the punishment of the CSRC, the company’s share price plunged all the way. As of the closing on January 21, the stock was reported at 0.95 yuan. So far, its share price has fallen below the face value of 1 yuan for four consecutive days since January 18.
According to public information, Xinjiang Yilu Wanyuan Industrial Investment Holding Co.Ltd(600145) was listed in 1999 and has changed its name many times. It has used up to 9 names, including 4D ceramics, guochuang energy, etc. At the end of 2014, Xinjiang Wanyuan rare gold resources investment holding Co., Ltd. transferred 9.4% shares of St guochuang from Jiangsu Dior investment, the former major shareholder, and became the major shareholder, and Huang Wei became the actual controller.
Statistics show that as of the closing on January 21, there were 36 stocks below 2 yuan in Shanghai and Shenzhen, most of which were ST shares. In addition to Xinjiang Yilu Wanyuan Industrial Investment Holding Co.Ltd(600145) , there are Xin Jiang Ready Health Industry Co.Ltd(600090) , Hna Innovation Co.Ltd(600555) , Egls Co.Ltd(002619) , Ccoop Group Co.Ltd(000564) and Guangzhou Yuetai Group Co.Ltd(600393) individual stocks below 1.5 yuan. Among them, the latest closing price of Xin Jiang Ready Health Industry Co.Ltd(600090) is 1.07 yuan, which is only one step away from the breaking value.
there are other delisting risks
In addition to the face value delisting risk, Xinjiang Yilu Wanyuan Industrial Investment Holding Co.Ltd(600145) has other delisting risks. On January 14, Xinjiang Yilu Wanyuan Industrial Investment Holding Co.Ltd(600145) issued the 13th risk warning announcement on the termination of the listing of stocks that may involve major illegal compulsory delisting.
On October 18, 2021, Xinjiang Yilu Wanyuan Industrial Investment Holding Co.Ltd(600145) received the prior notice of administrative punishment and market prohibition from the CSRC. The company falsely increased its revenue from 2018 to 2019. After retroactive adjustment, it may have an operating revenue of less than 10 million yuan for three consecutive years in 2018, 2019 and 2020. According to relevant regulations, the company may be involved in major illegal compulsory delisting. Once the formal punishment decision is received, the company will suspend trading and wait for the exchange to make a decision on whether to terminate the listing of its shares.
In terms of operating conditions, Xinjiang Yilu Wanyuan Industrial Investment Holding Co.Ltd(600145) the audited net profit attributable to the shareholders of the listed company in 2020 was negative and the operating income was less than RMB 100 million. The delisting risk warning of the company’s shares was implemented on April 27, 2021.
Just a few days ago, the company also received the case filing notice sent by Xinjiang securities regulatory bureau. Tacheng Public Security Bureau has filed and investigated the crime of Xinjiang Yilu Wanyuan Industrial Investment Holding Co.Ltd(600145) and Huang Wei, the actual controller of the company, suspected of illegal disclosure and non disclosure of important information.
With regard to Xinjiang Yilu Wanyuan Industrial Investment Holding Co.Ltd(600145) and Huang Wei’s case filed by the public security organ, the Shanghai Stock Exchange issued a regulatory letter to the company on January 14, believing that the matter had a significant impact on the company, requiring it to disclose immediately, explain the impact on the company, and fully remind the risk. Shanghai stock exchange requires the company and all directors and supervisors to attach great importance to the above matters, timely report relevant progress and treatment results to them, and fulfill the obligation of information disclosure as required.
With the recent announcement, many investors are also worried about the future of Xinjiang Yilu Wanyuan Industrial Investment Holding Co.Ltd(600145) . Some investors said that they would consider suing claims for losses.
industry voice: the number of A-share delisting companies may increase significantly
In recent years, the delisting frequency of Listed Companies in Shanghai and Shenzhen is accelerating. Hithink Royalflush Information Network Co.Ltd(300033) statistics show that in 2021, 20 companies including shoushang shares, Gezhouba, Tianxiang retreat, Beixun retreat, Sitai retreat and delisting fukong completed delisting. During delisting, the share price range of the above companies was 0.16 yuan / share to 9.93 yuan / share, and the net assets per share ranged from -7.48 yuan to 7.46 yuan.
In terms of delisting reasons, Kangde delisting, Pengqi delisting, * ST Hangtong, Qiulin delisting, * ST Xinwei delisting, Gongxin delisting and fukong delisting were delisted due to losses for three consecutive years; Six companies including Tianxia delisting, * ST Chengcheng delisting, Gangtai delisting, Changcheng delisting, * ST Yisheng delisting and Jinyu delisting were delisted because their share price was lower than the par value of 1 yuan; The rest are triggered by delisting of various financial indicators.
Yang Delong, chief economist of Qianhai open source fund, told reporters that the new delisting regulations have just been implemented for more than a year, not many listed companies trigger the new regulations, and some companies will avoid delisting by adjusting financial indicators. In his opinion, the number of delisting enterprises should increase in 2022. For companies with poor performance, it can last for one year, but it is estimated that it is difficult to last for two years.
Xu Chi, an investment strategy analyst, believes that under the guidance of the comprehensive registration system, the normalized delisting mechanism may reshape the new ecology of the A-share market. With the implementation of the comprehensive registration system, the delisting rules of A-Shares are expected to be further optimized in the future, and the delisting standards will be further detailed and diversified. The number of A-share delisting companies may increase significantly, which is conducive to improving the overall quality of A-share listed companies and promoting the benign development of the market.
