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Many listed companies are about to delist.

‍ST Changkang (002435) announced on the evening of August 14 that the company's shares have been decided to be delisted by the Shenzhen Stock Exchange and will be delisted on August 15.*ST Hongtao(002325) also met the same fate. According to an announcement on the evening of August 14, the company's shares had been decided to be delisted by the Shenzhen Stock Exchange and would be delisted on August 15.

Let's look at it againST Asahi(000413), as of August 14, the closing prices of ST Xudian's A and B shares have been lower than 1 yuan for 20 consecutive trading days. According to regulations, the Shenzhen Stock Exchange will terminate the company's stock listing and trading, and the company's A and B shares will be suspended from the opening of the market on August 15.

ST Changkang will be delisted on August 15

From June 3 to July 1, ST Changkang's daily stock closing price was below 1 yuan for 20 consecutive trading days, triggering the Shenzhen Stock Exchange's regulations on stock delisting.

On the evening of July 1,ST ChangkangA risk warning announcement was disclosed regarding the delisting and suspension of the company's shares. Due to the occupation of non-operating funds, illegal guarantees, and the company's internal control audit report for 2023 being issued with a negative opinion, in accordance with the Shenzhen Stock Exchange's stock listing rules, the company's shares will be subject to special treatment of "other risk warnings" from May 6, 2024.

As of July 1, the balance of funds occupied by the controlling shareholder was 3.485 billion yuan, and the balance of illegal guarantees provided by the company's subsidiaries for the controlling shareholder was 500 million yuan. According to the Shenzhen Stock Exchange's stock listing rules, if the company fails to collect the 3.485 billion yuan of occupied funds within 6 months as required by the rectification order, the Shenzhen Stock Exchange will suspend the company's stock trading. If the rectification is not completed within two months after the suspension, the Shenzhen Stock Exchange will issue a delisting risk warning for the company's stock trading. If the rectification is still not completed within two months thereafter, the Shenzhen Stock Exchange will decide to terminate the company's stock listing. In order to complete the rectification, the company must collect all funds occupied by the controlling shareholder or the controlling shareholder's related persons.

According to the regulations of the Shenzhen Stock Exchange, the company's shares have been delisted by the Shenzhen Stock Exchange due to triggering forced delisting circumstances. The company's shares will not enter the delisting settlement period and will be delisted within fifteen trading days after the Shenzhen Stock Exchange makes the delisting decision.

‍ST Changkang reminds that during the period from the delisting of the company's shares to the completion of the initial registration of the delisting board, investors are requested not to cancel the securities accounts intended to be used in the delisting board, otherwise it may result in the shares being unable to complete the registration of the delisting board on time and affect the subsequent share transfers.

*ST Hongtao will be delisted on August 15

From May 31 to June 28, the daily closing price of *ST Hongtao's stock was less than 1 yuan for 20 consecutive trading days, triggering the delisting of its stock. On August 5, *ST Hongtao received the "Decision on the Delisting of Shenzhen Hongtao Group Co., Ltd.'s Stock" issued by the Shenzhen Stock Exchange, which stated that the company's stock was delisted by the Exchange due to the forced delisting of trading-related stocks, and it would not enter the delisting settlement period.

*ST Hongtao mainly engages in the design and construction of public decoration projects such as theater venues, libraries, hotels, office buildings, hospitals, and stadiums. Affected by the downward trend in the real estate market, the company's new orders have declined, and the recovery of accounts receivable has been slow. Its operating conditions have continued to deteriorate. It has been losing money for four consecutive years since 2020, and the loss in 2023 will reach 1.53 billion yuan.

In terms of debt, as of the end of April this year, *ST Hongtao's overdue bank loans amounted to 1.673 billion yuan. Currently, the company's main bank accounts have been frozen and many properties have been seized.

On January 29 this year, *ST Hongtao's creditor Huizhou Zhonghe Building Decoration Materials Co., Ltd. (hereinafter referred to as "Zhonghe Building") applied to the court for reorganization of the company on the grounds that the company could not repay its due debts and obviously lacked repayment ability, but had reorganization value. However, the Shenzhen Intermediate Court made a ruling on July 29, 2024 that it would not accept the bankruptcy reorganization application filed by Zhonghe Building against the company.

*ST Hongtao had carried out a round of shell protection in June this year, but failed to save the stock price. At noon on June 14, 2024, *ST Hongtao's official WeChat account posted that the controlling shareholder and actual controller Liu Nianxin and Yinggu Energy Technology (Zhejiang) Co., Ltd. (hereinafter referred to as "Yinggu Energy") signed a voting rights delegation agreement on June 8, 2024, and the company's controlling shareholder and actual controller will be changed to Yinggu Energy. The company then deleted the information.

Recently, many senior executives of *ST Hongtao have resigned. On May 13, Hou Chunwei resigned from the company's director, vice chairman, president and other related positions; Su Yi resigned from the director, vice president, and secretary of the board in June; on July 29, Song Mingyuan resigned from the company's vice president and all positions in subsidiaries.

According to the announcement on the evening of August 14, *ST Hongtao's shares have been decided to be delisted by the Shenzhen Stock Exchange and will be delisted on August 15. The company also reminds investors not to cancel their securities accounts intended to be used in the delisting sector during the period from the delisting of the shares to the completion of the initial registration of the delisting sector, otherwise the shares may not be registered in time for the delisting sector and affect the subsequent transfer of shares.

ST Solectron will be suspended from trading on August 15

Let’s take a look at the “fate” of ST Solectron.

As of August 14, the closing prices of ST Xudian's A and B shares have been below 1 yuan for 20 consecutive trading days. According to relevant regulations, the Shenzhen Stock Exchange will terminate the company's stock listing; stocks that are terminated due to trading-related mandatory delisting will not enter the delisting adjustment period. The company's A and B shares will be suspended from the opening of the market on August 15.

Pursuant to the relevant provisions of the "Shenzhen Stock Exchange Listing Rules", the Shenzhen Stock Exchange shall issue a prior notice of intent to terminate the listing of the company's shares within five trading days from the date of suspension of the company's shares.

Earlier on May 8, ST Xudian received a case filing notice issued by the China Securities Regulatory Commission. Because the company failed to disclose its 2023 annual report within the prescribed period, the China Securities Regulatory Commission decided to file a case against the company. At the same time, due to the occupation of non-operating funds and the company's 2023 internal control audit report with a negative opinion, ST Xudian has been subject to other risk warnings since July 9.

On July 5, ST Xudian disclosed that it had received a document issued by the Hebei Securities Regulatory Bureau, which decided to take administrative supervision measures to order Dongxu Optoelectronics and Dongxu Group to correct their mistakes.

ST Xudian also said that it is currently actively urging relevant parties to actively raise funds to repay the occupied funds as soon as possible to eliminate the impact on the company. The announcement shows that if the company fails to collect the 9.595 billion yuan of non-operating occupied funds within six months as required by the rectification order, the Shenzhen Stock Exchange will suspend the company's shares. If the rectification is not completed within two months after the suspension, the Shenzhen Stock Exchange will implement a delisting risk warning for the company's stock trading. If the rectification is still not completed within two months thereafter, the Shenzhen Stock Exchange will decide to terminate the company's stock listing.