More than 50 companies have entered the delisting process this year, and it is expected to set a record high

Extreme news reporter Xu Wei

With the strict implementation of the new delisting regulations, the regulatory "should be retired" signals are becoming more and more intense. Since the beginning of this year, the delisting company has appeared one after another, and even a group of companies collectively delisted on the same day. According to the incomplete statistics of Jimu Journalists, as of June 24, 2022, more than 50 companies have received a notice from the exchanges' delisting decision or have entered the delisting process. In 2021, there are 23 A -share markets. The company's delisting, the number of A -share retirement markets this year is expected to reach a record high.

Industry insiders said that thanks to the continuous implementation of the new delisting regulations and the reform of the registration system, the ecology of the A -share market has continued to improve, and the normalized delisting mechanism is accelerating. At the same time, experts also reminded investors to adhere to value investment and avoid blind speculation of delisting stocks.

King Kong retreats at the end of June 21 to block the 20%daily limit (Picture Source: Big Smart APP screenshot)

Ninety percent was delisted due to failure to meet the standards

Since the beginning of this year, 9 companies including ST Pingneng, delisting Shixiti, delisting La Xia have delisted and have been delisted; 6 A -share companies, including delisting Mingke, delisting tour, and delisting. It was announced on the evening that the delisting period has ended, and the stock will be terminated. More than 30 companies such as Hyechochi and Delivery Jinsai have entered a period of delisting; and the company has received a pre -notification letter or supervision letter before the exchange decides to decide before delisting.

In addition, some companies have been warned by delisting risks, including Kehua Biology, Taihe Group, Xizi Island, etc. If these companies touched the delisting risk warning again in 2023, they will be terminated.

It is worth mentioning that on June 15, Hubei Wuchang Fish Co., Ltd. (hereinafter referred to as "Wuchang Fish") entered the last trading day of the delisting period. According to regulatory regulations, after the company's stock is terminated, it will be transferred to the national SME shares transfer system for shares transfer, becoming the first delisting company in Hubei this year.

In May 2021, Wuchang Fish was warned by delisting risk due to the loss of performance in 2020. From February to April this year, after trying to escape the supervision inquiry failed, the company had to disclose the real 2021 performance. The company deducts the revenue of the business income that has nothing to do with the main business and does not have the income of commercial essence is only 14.5256 million Yuan, deducted non-net profit-35,686,600 yuan, once again touched the termination of the listing.

The reporter found that the financial index is not up to the main reason for the delisting stocks of the A -share market since this year. Specifically, among more than 50 listed companies that have touched the forced delisting, more than 90%of the companies have touched the financial delisting standards. In addition, one has touched a major illegal delisting and one touches the face value delisting. This shows that the optimization of the financial delisting indicators further accelerates the lack of delisting of sustainable operating capacity empty shell companies.

A -share normalized delisting mechanism is accelerating the formation

According to reporters, since 2006, the domestic delisting system has gone through five major reform optimizations, and the construction of the delisting system has achieved remarkable results. In 2020, in order to implement the regulations on delisting in the new version of the Securities Law and laid the foundation for the implementation of the comprehensive registration system, under the unified deployment of the China Securities Regulatory Commission, the two Shanghai and Shenzhen institutions launched a new round of reform system reform work And on December 31, 2020, a new delisting regulations were released. The new delisting regulations on the basis of the system design experience of the early science and technology board and the GEM, through the first test of the design experience, through further optimization of the delisting standards, simplifying the delisting process, and strengthening risk warnings to promote domestic marketization, rule of law, and normalization The reform of the delisting system will go to a new level.

"At present, the A -share market has entered a new era of large waves and sand. There is an important symbol of the high -quality service of the A -share market in the A -share market. The effect of the implementation of the amendments to the Criminal Law is a great progress, which is not only a market progress, but also the maturity of investors. "Dong Dengxin, director of the Institute of Finance and Securities of Wuhan University of Science and Technology, said.

Dong Dengxin further supplemented. At the same time, in the process of advanced the reform of the registration system, the door of the IPO was getting more and more open, and the cost of listing was getting lower and lower. Compliant companies generally followed the door of the IPO. This keeps the value of the shell company shrinking, giving up struggle, and more directly entering the delisting channel. In this way, the efficiency of delisting will increase significantly, and the number of delisting companies will continue to rise. "This is not only conducive to the survival of the fittest, but also maintains the smooth flow of water, but also helps to increase the awareness of investors' risk. To a certain extent, it also makes the speculative shell gambling without the market. Everyone returns to its origin."

The risk of speculation of delisting shares cannot be ignored

However, under normalized delisting mechanisms, many delisting stocks have been fired in funds recently. For example, on June 21, King Kong retreated to the end of the 20%daily limit, reported at 1.45 yuan, and sold 30.59 million yuan throughout the day. In addition, Baode's retirement and Danbang retreat also followed the wind.

The regulators have previously reminded relevant risks many times and increased regulatory efforts. On the evening of June 6, the Shanghai Stock Exchange officially issued a notification on the abnormal transaction of the delisting Xishui stocks, reminding investors to invest cautiously and pay attention to investment risks. The operation of the Shanghai market released by the Shanghai Stock Exchange on June 10 shows that from May 30 to June 10, 2022, increased the re -marketing period of stock delisted, delisted, and delisted Behavioral supervision.

In addition, the documents released by the CSRC have also clearly stated that investors' access requirements for the risk status of the delisting company, strengthen investor education and investment risk warnings, and guide investors to rationally buy and sell shares of delisting companies.Dong Dengxin said that with the orderly advancement of the registration system, the new regulations for delisting are becoming more and more mature, and the loss of buying and backdoor loss. In the pastThe role and deterrent effect of the degradation system are surpassed by the fittest.Nowadays, the wind of fried shells is gradually disintegrated, and the current is mainly the opportunity for low -priced stocks in the game.It is recommended that investors should attach importance to the impact of the market on the market and adhere to value investment. Under the wall of the gentleman, the gentleman should avoid blind speculation of the delisting stock.

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