Another listed company is about to delist. According to the stock exchange, absorption and merger plan and the arrangement of Shenzhen Stock Exchange, Inner Mongolia Pingzhuang Energy Resources Co.Ltd(000780) (000780) shares will be delisted from January 24 this year, and the company will become the first delisted share in 2022. It should be mentioned that the pledge and judicial freeze originally set on Inner Mongolia Pingzhuang Energy Resources Co.Ltd(000780) shares will continue to be valid in exchange for A-share shares of Longyuan Power.
officially delisted next Monday
Longyuan Power issued A-Shares for share exchange and merger Inner Mongolia Pingzhuang Energy Resources Co.Ltd(000780) which was approved by the CSRC on December 8, 2021. According to the plan of share exchange, absorption and merger, Inner Mongolia Pingzhuang Energy Resources Co.Ltd(000780) applied to Shenzhen stock exchange for the termination of the listing of the company’s shares, and Shenzhen Stock Exchange agreed to terminate the listing and delisting of the company’s shares from January 24, 2022.
According to the arrangement, the equity registration date of Inner Mongolia Pingzhuang Energy Resources Co.Ltd(000780) merger of Longyuan Power is January 21, 2022. After the closing of the equity registration date, the Inner Mongolia Pingzhuang Energy Resources Co.Ltd(000780) shares held by the shareholders of the company will be converted into the shares of Longyuan Power at the ratio of 1:0.3407, that is, every Inner Mongolia Pingzhuang Energy Resources Co.Ltd(000780) A shares held by the Inner Mongolia Pingzhuang Energy Resources Co.Ltd(000780) conversion shareholders, It can be exchanged for 0.3407 A shares issued by Longyuan Power in this share exchange.
“For the Inner Mongolia Pingzhuang Energy Resources Co.Ltd(000780) shares that have been pledged, other third-party rights or restricted by laws and regulations such as judicial freezing, these shares will be converted into the shares of Longyuan Power, the surviving party after the merger. The pledge and judicial freezing originally set on the Inner Mongolia Pingzhuang Energy Resources Co.Ltd(000780) shares will continue to be valid on the A shares of Longyuan Power.” Inner Mongolia Pingzhuang Energy Resources Co.Ltd(000780) is indicated in the letter phi.
In this regard, Yang Yiqiong, a researcher at Guoyuan international, believes that shortly after the completion of Inner Mongolia Pingzhuang Energy Resources Co.Ltd(000780) delisting application, Longyuan Power will land on A-share market. This time, Longyuan Power’s landing on A-share will promote its new energy industry chain to realize endogenous cycle, provide new capital guarantee for the company’s medium and long-term development, and will help the company improve its overall valuation.
the active delisting system will be more perfect
According to statistics, since 2021, 20 companies in A-Shares have completed delisting, including shoushang shares, Gezhouba, Tianxiang retreat, Beixun retreat, Sitai retreat, delisting fukong, delisting Pengqi, Oupu retreat, * ST Xinwei, Kangde retreat, delisting Qiulin, Great Wall retreat, delisting Gongxin, Tianxia retreat, * ST Yisheng, * ST Chengcheng, * ST Hangtong, delisting Jinyu, delisting Gangtai and Yingkou port. 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 addition to Inner Mongolia Pingzhuang Energy Resources Co.Ltd(000780) , the reasons for the termination of the listing of shoushang shares, Gezhouba and Yingkou port are absorption and merger. After the reorganization, the above three companies are referred to as Wangfujing Group Co.Ltd(600859) , China Energy Engineering Corporation Limited(601868) , Liaoning Port Co.Ltd(601880) respectively. The delisting reasons of other companies are different, including Tianxia delisting, * ST Chengcheng delisting, Gangtai delisting, Great Wall delisting, * ST Yisheng delisting and Jinyu delisting because the share price is lower than the face value; Kangde delisting, Pengqi delisting, * ST Hangtong, Qiulin delisting, * ST Xinwei, Gongxin delisting and fukong delisting were delisted due to losses for three consecutive years; Some companies withdrew from the market because they did not disclose periodic reports or other circumstances that did not meet the listing requirements after the suspension of listing.
Now, the formal implementation of the new delisting regulations has entered the second annual report quarter. In this regard, Zhongtai Securities Co.Ltd(600918) investment strategy Xu Chi believes that the changes in China’s securities issuance supervision system show a development trend from the approval system of “strict entry and strict exit” to the registration system of “wide entry and wide exit”. With the implementation of the comprehensive registration system, 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.
It should be mentioned that the legal construction of China’s capital market has made continuous progress, and the crackdown on securities violations and crimes has been increasing. In this regard, Shenwan Hongyuan Group Co.Ltd(000166) investment strategy Gong Fang said: “the securities law enforcement and judicial system with Chinese characteristics is being constructed, the due diligence of intermediaries and the cultural construction of the securities fund industry are constantly strengthened. China’s capital market trading system allows the market to play more value discovery functions, and the active and passive delisting systems are also improved.”
