Recently, A shares ushered in a wave of changes in securities for short.
The 2023 annual report has revealed that a number of A-share listed companies have been implemented risk warnings due to performance, corporate governance and other reasons (including * ST or ST, hereinafter referred to as St companies for ease of expression). In addition, some St companies have applied to revoke the risk warning because of improving their operations and reversing the previous predicament, so as to achieve "star removal and cap removal".
As a result, the A-share market ushered in the most intensive wave of changes in securities abbreviations in recent days, of which on May 6 alone, nearly 50 companies changed their securities abbreviations, all of which were "wearing a hat." In addition, it is believed that as many companies submit applications to revoke risk warnings and are approved, the number of companies that "take off their stars and take off their hats" for short is expected to increase significantly.
Dozens of companies have recently changed their securities intensively, mostly referred to as "wearing a hat on a star".
Wind data show that in the past month, more than 80 companies have changed their securities acronyms, making it the most intensive wave of securities acronym changes so far this year.
There are a variety of reasons for the above-mentioned change of securities abbreviation. Some companies have simultaneously changed their securities acronym because of the change of company name. For example, "Guanfu shares" has changed its securities acronym to "Neng Special Technology" since April 23, 2024. The company said that the company's original name "Guanfu Holdings Co., Ltd." is the brand name of the company's original household ceramic business, which was spun off in 2016. One of the company's current core businesses is pharmaceutical intermediates and vitamin E plate, which is operated by Nengte Technology Co., Ltd., a wholly-owned subsidiary. The company said that the changed company name can more accurately reflect the company's business composition and future strategic layout development, and further enhance the brand image and value of the company.
More companies change the abbreviation of securities without changing the company name. Among them, the most companies wear hats after the implementation of the risk warning.
The reporter found that on May 6 alone, nearly 50 companies changed their securities abbreviations, all of which were "wearing a hat" after the implementation of the risk warning. For example, due to the 2023 "2023 audit report" issued by Beijing Dahua International Accounting firm (special general partnership), and the negative internal control audit report issued by Beijing Dahua International Accounting firm (special general partnership) in 2023, the company's stock was subject to delisting risk warning and superimposed other risk warning, and the securities abbreviation was changed to "* ST Longyu".
Another example is the "Internal Control Audit report" (Qinxin Review [2024] No. 1987) issued by Zhongqin Wanxin Accounting firm (Special General Partnership) in 2023, according to the Stock listing rules of Shenzhen Stock Exchange.Powerballprizemoney. 8PowerballprizemoneyParagraph 4 of Article .1 stipulates that the company's stock is subject to other risk warnings, and the abbreviation of the stock has been changed from "Zheng Tong Electronics" to "ST Securities" since May 6, 2024.
The reporter combed and found that the above securities are referred to as "star and hat" companies widely distributed in many industries, among which there are relatively many companies in real estate chain, medicine and biology, communications, computer, electronics and other industries.PowerballprizemoneyIn terms of performance, most of the above-mentioned companies did not perform well in the past 2023, nearly losing money across the board. In addition, due to large losses or frequent losses in recent years, more than 20 companies have negative net assets at the end of 2023.PowerballprizemoneyFrom the audit opinion of the annual report, among the above-mentioned securities referred to as "hooded" companies, more than 20 companies have issued audit reports that are unable to express their opinions, and many other companies have issued qualified opinions, or unqualified opinion audit reports with highlighted paragraphs, compared with a relatively small proportion of companies with standard unqualified opinions.
The number of companies that "take off stars and take off hats" is also expected to increase significantly.
In addition, it is worth noting that due to business improvement and other reasons, some St companies have recently applied to withdraw the risk warning one after another, and it is believed that the number of companies that "take off their stars and take off their hats" before the securities abbreviation is also expected to increase significantly in the future.
In the last month, more than 30 companies have issued announcements to withdraw risk warnings, according to Wind.
For example, ST Shihua recently issued an announcement on applying for the revocation of other risk warnings. According to the announcement, the company's board of directors believes that the rectification of the company's internal control defects has been completed, that the internal control is operating effectively, and that there is no case of touching "other risk warnings" as stipulated in the Stock listing rules (revised in August 2023). There is also no additional "delisting risk warning", and the company has met the conditions for withdrawing the "other risk warning". In accordance with paragraph 3 of Article 9.8.5 of the rules governing the listing of shares on the Shenzhen Stock Exchange (revised in August 2023), the Shenzhen Stock Exchange may apply to the Shenzhen Stock Exchange to revoke the "other risk warnings" for the company's stock trading.
As another example, the announcement issued recently by * ST around the sea said According to the company's 2023 annual audit institution, Zhongxingcai Guanghua Accounting firm (Special General Partnership), the company issued an unqualified 2023 "audit report" on the elimination of non-standard items in the 2022 financial statements audit report of Zhejiang Weihai Construction Group Co., Ltd., 2023 Internal Control Audit report on the 2022 Internal Control Audit report of Zhejiang Weihai Construction Group Co., Ltd. Audit report on the elimination of the impact of the matters involved in the paragraph with emphasis. The impact of the implementation of delisting risk warning and other risk warnings on the company has been eliminated.
The reporter's statistical annual report data found that the above-mentioned companies that applied to revoke the risk warning had positive net assets at the end of 2023, including some companies with negative net assets at the end of 2022. In addition, among the above-mentioned companies, from the perspective of audit opinions, the audit opinions of relevant companies have generally improved greatly, and most companies have issued standard unqualified opinion audit reports in 2023.