On October 28, the Shenzhen Stock Exchange decided to terminate the listing of * ST Kaidi stock and enter the delisting consolidation period from November 5, 2020. The company’s shares will be delisted on the next trading day after the delisting consolidation period. < / P > < p > * ST Kaidi’s shares were suspended from listing on May 13, 2019 because the audit reports of 2017 and 2018 were issued with unqualified audit reports. According to the Shenzhen Stock Exchange, the first annual report (2019 annual report) after the suspension of listing showed that the net profit and net assets of the company’s shareholders belonging to the parent company in 2019 were negative, and the financial report of 2019 was issued with an audit report that could not express opinions, which touched the situation of stock delisting. As of June 30, 2020, the number of shareholders of Kaidi was 79st. Among the top ten shareholders, Huadian Group, Huabao trust, Huarong Asset Management, securities and capital company, etc. < p > < p > Kaidi Electric Power Co., Ltd. was established by Beijing Zhonglian Power Technology Co., Ltd., Wuhan University of water resources and electric power, Wuhan Donghu New Technology Entrepreneurship Center, Wuhan University of water resources and electric power, and Kaidi technology development company of Wuhan University of water resources and electric power. < p > < p > Kaidi Electric Power purchased 9 biomass power plants from sunshine Kaidi, the controlling shareholder, officially entered the biomass power generation industry, and the company began to carry out large-scale expansion. < p > < p > on February 8, Kaidi power held a shareholders’ meeting and passed the proposal to purchase two biomass power plants controlled by Kaidi, a major shareholder. At this shareholders’ meeting, Chen Yilong, chairman of Kaidi power, who had previously proposed the “trillion myth”, once again planned the company’s future. In 2020, “Kaidi power will enter the ranks of the world’s top 500 enterprises”. < p > < p > * ST Kaidi purchased 87 biomass power plants, 58 forestry companies and several wind power and hydropower companies under sunshine Kaidi and its related parties at a price of 6.85 billion yuan. The company was once known as “the first share of biomass power generation”. In September of the same year, Kaidi Electric Power Stock abbreviation was changed to “Kaidi ecology”. < p > < p > due to the large-scale acquisition of the company, Kaidi’s ecological debt has increased sharply. According to the annual report of 2018, the total liabilities of the company in 2018 exceeded 30 billion yuan. < / P > < p > in December, * ST Cady’s debt default further deteriorated. According to the data disclosed by the company in December, * ST Kaidi’s overdue debts totaled 9.384 billion yuan, accounting for 88.25% of the latest audited net assets. < / P > < p > on May 13, due to the continuous loss, the annual reports of the company from 2017 to 2018 were continuously issued with unqualified audit reports, and * ST Kaidi shares were suspended from listing. < p > < p > on April 26, * ST Kaidi announced in the evening that the company received a written decision on administrative punishment from the China Securities Regulatory Commission, which decided to give the company a warning and impose a fine of 400000 yuan. < p > < p > on May 12, * ST Kaidi announced that Chen Yilong, the then chairman of the company, and Tang Xiuli, the then chief financial officer of the company, had received the decision of China Securities Regulatory Commission on banning market entry issued by the CSRC. The CSRC decided to ban Chen Yilong from entering the securities market for 10 years and Tang Xiuli for 5 years. < p > < p > on September 10, * ST Kaidi announced that due to the difficulty in capital turnover, the company has failed to pay off its overdue debts by a total of 18.44 billion yuan. The latest audited net assets of the company were 1.914 billion yuan, and the overdue debts accounted for 963.3% of the latest audited net assets. On September 12, Jiang Lin, director of human resources of * ST Kaidi, announced his resignation. According to the announcement, the reason for Jiang Lin’s resignation was that the company was unable to pay wages normally, and the company’s lawsuit gave him a “high limit order”. < p > < p > on October 15, * ST Kaidi has not yet come out of the loss predicament. The company’s performance forecast shows that in the first three quarters, the net loss was 1.106 billion yuan to 1.327 billion yuan, up 22.35% to 6.82% over the same period of last year, and the net loss was 1.424 billion yuan in the same period of last year. < p > < p > on October 28, * ST Kaidi announced that the company received the decision on termination of listing of Kaidi Ecological Environment Technology Co., Ltd. from Shenzhen Stock Exchange on October 28. The company’s shares will enter the delisting consolidation period from November 5, 2020. Before the suspension, the market value of the company was 4.126 billion yuan. < / P > < p > Disclaimer: the purpose of this article reprinted by china.com finance and economics is to convey more information and does not represent the views and positions of the website. The content of this paper is for reference only and does not constitute investment advice. Investors operate accordingly and bear their own risks. < p > < p > Chinanet is a national key news website under the leadership of the Information Office of the State Council and managed by China foreign language publishing and Distribution Bureau. Through 11 versions in 10 languages, the website releases information 24 hours a day, which is an important window for China to carry out international communication and information exchange.