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China Fund News reporter heard

On the evening of August 6, *ST Dayao announced that the company's controlling shareholder and actual controller Yang Junxiang decided to terminate the planning agreement for the transfer of the company's shares, mainly because he failed to reach an agreement with the counterparty.

On the evening of August 5, *ST Dayao announced that Yang Junxiang was planning to transfer the company's shares by agreement, which may lead to a change in the company's control.

The reporter noticed that *ST Dayao's stock price fluctuated before the above announcement was released, and it was suspended from the opening of the market on August 5. Now, the planning of transaction-related matters has been terminated, and *ST Dayao will resume trading from the opening of the market on August 7.

As of July 10, the total number of shareholders of *ST Dayao was 16,800.

Failure to reach consensus with the counterparty

*ST Dayao announced that the company received a notice from Yang Junxiang on August 6 that he had not reached an agreement with the counterparty on the company's share transfer agreement during the company's suspension. After careful study, Yang Junxiang decided to terminate the relevant matters.

On the evening of August 5, *ST Dayao announced that the company received a notice from Yang Junxiang on August 4 that he was planning matters related to the agreement transfer of the company's shares, which may lead to a change in the company's control.

As of the end of the first quarter of 2024, Yang Junxiang directly held 23.31% of *ST Dayao's shares. At the same time, Yang Junxiang's main occupations and positions in *ST Dayao include chairman of the board, general manager, controlling shareholder, and actual controller.

At that time, in order to ensure fair information disclosure and avoid abnormal fluctuations in the company's stock price, *ST Dayao had suspended trading since the opening of the market on August 5, and applied to the Shanghai Stock Exchange to continue the suspension from the opening of the market on August 6.

*ST Dayao announced that the company expects the total suspension period to be no more than two trading days (including one trading day suspension on August 5).

Now, the suspension period has passed, and the control of *ST Dayao has not changed. *ST Dayao announced that the company will resume trading from the opening of the market on August 7 after applying to the Shanghai Stock Exchange in accordance with relevant regulations.

Stock price changes before suspension

*ST Dayao announced that Yang Junxiang’s termination of the planning agreement to transfer the company’s shares will not have an adverse impact on the company’s production and operation, nor will it affect the company’s future development strategy.

However, *ST Dayao's stock price fluctuated before it was suspended on August 5. As of the close of August 2, the total market value of *ST Dayao was 721 million yuan.

Recently, *ST Dayao issued an announcement to remind that it faces a number of risks, including operating performance risks, centralized bulk drug procurement risks, and the possible risk of being delisted.

Among them, *ST Dayao was affected by factors such as centralized procurement of traditional Chinese medicines and restrictions on medical insurance payment, resulting in a downward trend in the sales price and sales volume of its main products, causing losses in recent years.

*ST Dayao recently released its performance forecast, stating that the company expects its net profit attributable to shareholders of the parent company in the first half of 2024 to be between -14 million yuan and -11 million yuan, and its net profit after deducting non-recurring items to be between -16 million yuan and -13 million yuan.

The company's official website shows that *ST Dayao is a key production enterprise and industrialization base for traditional Chinese medicine and natural medicine in Yunnan Province. It is also the first A-share main board listed company in Dali Bai Autonomous Prefecture, Yunnan Province. It was listed on the main board of the Shanghai Stock Exchange on September 22, 2017.

At present, *ST Dayao has been issued a delisting risk warning by the Shanghai Stock Exchange. *ST Dayao announced that if the company encounters any of the circumstances specified in Article 9.3.12 of the "Shanghai Stock Exchange Stock Listing Rules" (revised in April 2024) in 2024, the company's shares will be delisted by the Shanghai Stock Exchange.

Editor: Xiaomo

Audit: Wooden Fish

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