news

한어Русский языкEnglishFrançaisIndonesianSanskrit日本語DeutschPortuguêsΕλληνικάespañolItalianoSuomalainenLatina

Source: Securities Times

ST Solectron is about to reach a critical day.

As of the close of July 31, the closing price of ST Xudian's A-shares had been below 1 yuan for 10 consecutive trading days, and the company's stock price closed at 0.61 yuan.

According to relevant rules, if the closing price of a company's stock is less than 1 yuan for 20 consecutive trading days, it will be delisted. According to calculations by a Securities Times reporter, ST Xudian needs to close at the daily limit price every day in the remaining 10 trading days in order to return to 1 yuan on the 20th trading day. This means that if ST Xudian's stock price fails to reach the daily limit on August 1, it will be locked in for delisting in advance.

The latest data shows that as of June 30, the company had more than 290,000 shareholder households.

After 17 consecutive limit-downs, the risk of "1 yuan delisting" is high

After other risk warnings were implemented, ST Xudian continued to hit the daily limit. As of July 31, it had hit the daily limit for 17 consecutive trading days, with a cumulative decline of more than 60%.

It is worth noting that during the decline in ST Xudian’s stock price, the company’s stock has closed below 1 yuan for 10 consecutive trading days since July 18.

According to the Shenzhen Stock Exchange's stock listing rules, for a company that issues both A shares and B shares on the Shenzhen Stock Exchange, if the closing prices of its A shares and B shares are both lower than RMB 1 for twenty consecutive trading days, the Shenzhen Stock Exchange will terminate its stock listing; stocks that are terminated due to trading-related forced delisting circumstances will not enter the delisting settlement period.

The share price of its B shares (ST Dongxu B) has already fallen below 1 yuan, with the latest closing price of 0.26 Hong Kong dollars per share. This means that the company's delisting will mainly depend on the performance of its A shares. According to calculations by a Securities Times reporter, based on the closing price of 0.61 yuan on July 31, the company needs to close at the daily limit price every day in the next 10 trading days to avoid the "1 yuan delisting" storm.

ST Xudian (formerly known as Dongxu Optoelectronics) once announced that because the progress of annual report preparation and review was slower than expected and related work needed to be further improved, the company's 2023 annual report and 2024 first quarter report disclosure time was changed from April 27 to April 30.

On April 30, Dongxu Optoelectronics announced that it could not disclose its 2023 annual report within the statutory period due to failure to complete verification procedures for important matters such as financial information in the annual report. Dongxu Optoelectronics' stock has been suspended since May 6. According to relevant regulations, if the company still fails to disclose its 2023 annual report within two months of the stock suspension, the company's stock trading will be subject to a delisting risk warning.

On the evening of July 5, two "Dongxu" companies, Dongxu Optoelectronics and Dongxu Blue Sky, released their 2023 annual reports. However, due to the negative audit report on the internal control of the company's 2023 financial report, and the non-operational occupation of the company's funds by the controlling shareholder Dongxu Group Co., Ltd., the stocks of both companies were subject to other risk warnings.

Dongxu Optoelectronics announced that due to the negative audit report on the company's 2023 financial report internal control, and the company's controlling shareholder Dongxu Group Co., Ltd. (hereinafter referred to as "Dongxu Group") occupied 9.595 billion yuan of the company's funds for non-operational purposes, according to the relevant provisions of the stock listing rules, the company's stock has been subject to other risk warnings since July 9, and the company's stock has resumed trading. Dongxu Blue Sky, also a subsidiary of Dongxu Group, was also issued a negative audit report on the company's 2023 financial report internal control, and the company's controlling shareholder Dongxu Group occupied 7.796 billion yuan of funds for non-operational purposes. According to the relevant provisions of the stock listing rules, the company's stock trading has been subject to other risk warnings since July 9, and the company's stock has resumed trading.

The securities regulatory bureaus in the locations where the two companies are located quickly issued orders to ST Xulan, ST Xudian and Dongxu Group to correct administrative supervision measures, requiring that all occupied funds be returned within six months.

The Shenzhen Stock Exchange also issued a letter of concern, asking the company to attach great importance to it, strictly follow the requirements of the rectification order to recover the occupied funds within the prescribed period, and effectively implement the rectification to safeguard the legitimate rights and interests of listed companies and small and medium-sized shareholders; the company's controlling shareholder, Dongxu Group, should earnestly fulfill its principal responsibilities and actively raise funds to repay the company's occupied funds.

20 times bull stock in the past

Public information shows that Dongxu Optoelectronics was established in 1992 and listed on the Shenzhen Stock Exchange in 1996. The company's main businesses are optoelectronic display manufacturing, new energy vehicle business and building installation engineering business. Among them, the optoelectronic display manufacturing business products mainly include electronic glass including glass substrates and glass cover plates, and key raw materials for color display of liquid crystal panels, such as color filters and optical films, as well as some graphene technology application products.

It is worth mentioning that after a long period of adjustment, the company also had its highlight moment. From the end of 2008 to September 2016, the company's stock price rose by more than 1,900%, becoming the hottest "20-fold bull stock" in the market at that time.

It is reported that Dongxu Optoelectronics announced the launch of the world's first graphene-based lithium-ion battery product, "Ene King". Boosted by this news, the company's stock price rose sharply in the first half of 2016.

However, some industry insiders questioned at the time that graphene-based lithium batteries like "Ene King" are actually similar to a power bank. They may increase the charging and discharging speed, but they do not improve the capacity of the battery and have not achieved a revolutionary breakthrough.

In the investor interaction platform, the company said that due to the impact of cash flow, the company has reduced some graphene industry-related businesses. Up to now, the company's graphene industrialization application business products mainly include smart graphene street lamps, electric scroll paintings, electric heating walls, electric heaters, hand warmers, etc.