Popular stocks are fell seriously!Didi Powder market transaction rose over 7% on the first day

China Times (chinatimes.net.cn) reporter Lu Xiao Beijing report

On June 13, US stocks generally fell. Among them, the heaven and earth fell 48.68%, the Bit mining fell 36.6%, and the houses fell 29.35%. However, under a bleak, Didi, the boss of the domestic online car, ended the market career, and ended at the stock price rising.

On the same day, the transaction code was changed to Didi of "DIDIY", which closed at US $ 2.46 in the powder market, up 7.42%, with a total market value of $ 11.941 billion. Prior to this, Didi's delisting application officially came into effect on June 12, ending his unattended US stock career.

Didi announced that after completing the delisting, its shares will be transferred to OTC (Over-the-Counter) for transaction. However, whether investors choose to sell or continue in the fan market, it will undoubtedly depend on Didi's future rectification progress and when they can log in to Hong Kong stocks.

Pink single market on the first day

June 13 is the first day of Didi on the powder market.

On June 10, Didi was on the last trading day of the New York Stock Exchange. On the same day, Didi's stock price fixed at $ 2.29. The price of this price is the highest peak of $ 18.01, which has shrunk by 87%. Within 52 weeks, Didi's stock price fell to $ 1.37.

According to a reporter from the Huaxia Times, the Panpin Market provides a quotation service for trading circulation for the stocks that choose not to listed on the New York Stock Exchange or NASDAQ listing or not meet the listing conditions of the listing. It adopts the market business system, which has the lowest entry threshold in the OTC market, and the risk is relatively the largest (the other two OTC markets include the OTCQX market called the "Main Board Reserve", and the OTCQB market for small and medium -sized companies. higher).

The pink single market is mixed. Ruixing chose to enter the powder market after delisting. On June 13, Ruixing closed at the Panpin market at $ 10.96, up nearly 7 times compared to the $ 1.38 of its delisting. In addition, according to the reporter's understanding, the ADRs of many Hong Kong -listed companies such as Tencent Holdings and Lenovo Group have also circulated in the fan market.

However, when many people in the industry communicate with reporters, they think that Didi has changed to the pink list market, which will be the sharp decrease in transaction activity.

Among them, Yuqing, the founder of lens research, told the China Times reporter that the OTC market is different from the level of Nasdaq and the New York Stock Exchange. "The OTC market is non -standardized and can only be traded at the counter. You can one -way matching to trade. However, the Nasdaq market and the New York Stock Exchange belong to the standardized exchange market, which is too strong in all aspects such as liquidity and transparency. "In addition, he also believes that Didi to go to the OTC market will bring transaction volume sharply." There are not many players participating in this market. "

A clear comparison example is that the snowball shows that the first day of Didi in the powder market was about $ 57 million, and the transaction volume was about 25 million shares. Change your hand 0.5%. On the last day of the New York Stock Exchange, Didi turnover was 292 million US dollars, the transaction volume was 127 million shares, and the turnover rate was 6.2%.

Fragrant Capital Director Shen Meng told the reporter of "Huaxia Times" that he was not optimistic about Didi's subsequent performance in the OTC market. He believes that Didi has determined to leave the US market, and some investors will also choose to sell their own stocks as much as possible in the OTC market.

Waiting for rectification to complete

One problem is that Didi has indicated that it will land in Hong Kong stocks in the future. But how to deal with these stock markets.

In the announcement issued on May 23, Didi once stated that after the delisting is completed, whether the ADS and/or ordinary stocks can be traded on the off -site powder list will depend on the behavior of shareholders and independent third parties, and the company does not participate in the participation of the company's participation. Essence Some people in the industry believe that this sentence means that Didi will not repurchase its own stocks in the fan market. However, Didi did not confirm this view on reporters.

Shen Meng told the reporter of "Huaxia Times" that delisting and privatization are two concepts. The delisting does not mean that it is necessary to buy back the stocks in the hands of investors. Open market or private transactions.

However, whether investors are selling stocks or continuing to wait in the fan market, they will depend on Didi's rectification progress, and when they can promote APP compliance on the shelves to restore normal operations. Earlier, many people in the industry also believed that completing the network security review will be a prerequisite for Didi in the future.

On June 30, 2021, Didi was listed on the New York Stock Exchange at $ 14. On the day of listing, Didi also ushered in the peak of $ 18.01. But then, on July 2, 2021, the Cyber ​​Security Examination Office announced the implementation of cybersecurity censorship on "Didi Chuxing". The 26 applications operated in the domestic market due to the problem of violating relevant Chinese laws and regulations collected personal information for personal information. , Displayed by the app store. In addition, Didi was asked to suspend new users to register. As of now, Didi has not disclosed the progress of rectification.

These two restrictions have a great impact on Didi. On May 2nd, the 2021 annual report disclosed by Didi showed that last year, Didi achieved revenue of 173.827 billion yuan, an increase of 22.64%year -on -year, but the annual operating loss was 48.442 billion yuan, an increase of about 2.5 times year -on -year. In 2021, its net loss of 49.334 billion yuan also expanded 3.65 times year -on -year. The Chinese travel sector, which occupies 90%of Didi revenue. In the third quarter of last year, Didi achieved a revenue of 39.09 billion yuan in the Chinese market, a decrease of 5.1%year -on -year. In the fourth quarter of last year, the number decreased by 12.7%year -on -year to 40.777 billion yuan. Essence

In addition, according to the Ministry of Transport ’s news on June 9, in May this year, a total of 526.869 million orders received order information on the online car rental supervision information interactive platform, an increase of 10.7%month -on -month. Didi Chuxing's data increased by only 8.7%month -on -month. According to the news of the Ministry of Transport, Didi Chuxing ’s compliance rate, the compliance rate of drivers, and the order of order in May this year were only 51.5%, 70%, and 53.1%, respectively. Essence

After completing the delisting, the early completion of rectification has become the biggest task that Didi is now facing.

Editor -in -chief: Editor -in -chief Huang Xingli: Han Feng

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