26000 shareholders have no sleep! “Internet jewelry first share” delisted

On the evening of December 29, * ST Gangtai announced that it received the “decision on the termination of listing of shares of Gansu Gangtai holding (Group) Co., Ltd.” from the Shanghai Stock Exchange today, < / P > < p > zhongzhengjun noticed that when the delisting of the following value is more and more common, the delisting of 1 yuan shares has become an important channel for the capital market to withdraw. For ST and other poor performing stocks, if the delisting conditions are lower than 1 yuan for 20 consecutive trading days after the implementation of the new delisting rules, there will be no delisting consolidation period for investors to exit. If we continue to speculate in such stocks, the investment risk is very high, which is tantamount to making a bluff from the fire. On December 29, the Shanghai Stock Exchange decided to terminate the listing of * ST Gangtai shares. According to relevant regulations, * ST Gangtai stock will enter the delisting period from the next trading day after the expiration of 5 trading days after the date of Shanghai Stock Exchange’s announcement of the decision to terminate the listing of its stock. The trading period is 30 trading days, and the abbreviation of the stock will be changed to “delisting Gangtai”. The company shall not plan or implement major asset restructuring during the delisting and consolidation period. < / P > < p > according to this calculation, * ST Gangtai shares enter the delisting consolidation period, the starting date of trading is January 7, 2021, and the delisting consolidation period is 30 trading days. If the whole day suspension is not considered, the final trading date is expected to be February 24, 2021. If the securities trading date is adjusted, the final trading date of * ST Gangtai’s delisting period will be postponed. < / P > < p > during the delisting period, * ST Gangtai stock will be traded on the risk warning board of Shanghai Stock Exchange, with a daily rise and fall limit of 10%. Within five trading days after the expiration of the delisting period, the Shanghai Stock Exchange will delist the company’s shares and terminate the listing of the company’s shares. < / P > < p > it should be reminded that investors need to be cautious about the stock trading in the delisting period. Delisting consolidation period is the last trading opportunity for investors of delisting companies before delisting. The purpose is to release risk. Investors should pay close attention to the investment risk of delisting companies, invest rationally and trade cautiously. < / P > < p > in addition, after the termination of listing, * ST Gangtai still belongs to a company limited by shares. The company also needs to comply with the company law and other provisions, continue to perform the relevant obligations of the public company and bear social responsibilities, so as to ensure that the rights enjoyed by shareholders in accordance with the law will not change due to the change of the listing status of the company’s shares. < / P > < p > according to the public information, * ST Gangtai, formerly known as huashengda, changed its name to Gangtai holdings after Gangtai Group acquired control of huashengda by way of share acquisition in 2008, and became a listed company of Gangtai group. Its main business is gold mining and the design, processing and sales of gold, diamonds, jadeite, Caibao and other jewelry. It owns brands such as Keshi diamond. < / P > < p > once, * ST Gangtai was also a famous Bull Stock in 2015. According to wind data, at the end of 2015, * ST Gangtai reached the highest of 24 yuan (under the former power recovery caliber). < / P > < p > however, since 2016, * ST Gangtai has gone to the fate of “falling endlessly”, from the highest of 24 yuan to 0.5 yuan (the closing price before the suspension), with a drop of 98%. < / P > < p > zhongzhengjun noticed that since 2018, the fundamentals of * ST Gangtai have also changed: in 2018, the net profit attributable to the parent company is -1.165 billion yuan, in 2019, the net profit attributable to the parent company is -3.375 billion yuan, and the loss in the first three quarters of this year is 623 million yuan. The total loss since 2018 is 5.163 billion yuan, which is much larger than the total profit of 1.788 billion yuan from 2012 to 2017. The main reason for the loss is the large amount impairment of book assets balance. < / P > < p > in addition, * ST Gangtai also has illegal guarantee. As of December 11, 2020, the company still has the outstanding balance of illegal guarantee of 2.045 billion yuan. In this regard, the Shanghai stock exchange requires that the company, Gangtai Group Co., Ltd. and its related parties should, in accordance with the requirements of the opinions of the State Council on further improving the quality of listed companies, attach great importance to the resolution of illegal guarantees, formulate feasible rectification plans, resolve them before the disclosure of the 2020 annual report, and timely fulfill the obligation of information disclosure. < / P > < p > from 2015 to 2016, * ST Gangtai introduced nine specific investors, including Gangtai group, Tencent computer and Kelan investment, through a fixed increase. Among them, Tencent subscribed 22.6131 million shares, involving nearly 180 million yuan. < / P > < p > in September this year, an investor asked on the interactive platform: “on June 29, the Secretary of the board of directors answered that Tencent still held more than 10 million shares of the company, so on September 3, whether Tencent still held shares of the listed company.” On September 21, the company replied: “Tencent’s shareholding has not changed yet.” In recent years, face value delisting has become the main form of market-oriented delisting. Under a more reasonable market valuation mechanism, it can be expected that there will be more and more face value delisting, which is the result of market choice and the expression of investors’ judgment on company value through market-oriented behavior. If some investors still insist on speculation, the risk is undoubtedly huge. < / P > < p > it is worth noting that recently, the Shanghai and Shenzhen stock exchanges released the draft for opinions on new rules for delisting to solicit public opinions. As a basic system of capital market, delisting system of listed companies plays an important role in improving the quality of listed companies and protecting the rights and interests of investors. < / P > < p > in this delisting system reform, in order to further play the market-oriented delisting function, in terms of trading delisting indicators, the original face value delisting indicator is modified to “RMB 1 delisting” indicator, and a delisting situation of 300 million market value is added. < / P > < p > with the formal implementation of the new delisting rules in the future, a more sound market exit mechanism will guide more investors to return their focus to the fundamentals of listed companies, guide investors to form a healthy and mature value investment concept, and accelerate the formation of a market ecology of survival of the fittest. < / P > < p > Disclaimer: the purpose of this article reprinted by CNFC is to convey more information, and it does not represent the opinions and positions of CNFC. 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