Home Business The first 1 yuan delisting this year! *ST Iger once relied on mergers and acquisitions to stand out | Delisting_Sina Finance_Sina.com

The first 1 yuan delisting this year! *ST Iger once relied on mergers and acquisitions to stand out | Delisting_Sina Finance_Sina.com

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The first 1 yuan delisting this year! *ST Iger once relied on mergers and acquisitions to stand out | Delisting_Sina Finance_Sina.com




The first 1 yuan delisting this year!Once relied on mergers and acquisitions to stand on the forefront

The first “1 yuan delisting” stock was born this year.

March 25,*ST Iger(rights protection)The stock price continued to drop by the limit and closed at 0.68 yuan per share, with a total market value of 1.255 billion yuan. Since March 4,*ST IgerThe stock price has been below 1 yuan, and from March 4 to 25, the stock price has been below 1 yuan for 16 consecutive trading days.

  *ST IgerannouncementAccording to the calculation, the daily closing price of the company’s stock for 20 consecutive trading days is lower than 1 yuan, which has touched the “Shenzhen”.securitiesAccording to the relevant transaction delisting regulations of the Exchange Listing Rules (Revised in 2022), the company’s shares will be listed in ShenzhensecuritiesThe exchange terminated listing and trading.

Even if 4 consecutive daily limit, it is difficult to return more than 1 yuan

According to the regulations, if the stock price of a listed company falls below 1 yuan for 20 consecutive trading days, the company will face delisting. Based on *ST Iger’s closing price of 0.68 yuan per share on the 25th, even if *ST Iger’s stock price continues to rise by the limit in the next 4 trading days, the company’s stock price will hardly return to more than 1 yuan.

According to “ShenzhensecuritiesAccording to the relevant provisions of the Exchange Listing Rules for Stocks (Revised in 2022), there is no delisting adjustment period for trading delisting.Suspensionafter the stock exchange issues a decision on termination of listing, the stock will be delisted and delisted directly.

That is to say, next week will be the “curtain-calling performance” of *ST Iger’s A-share career.

From late July 2021, *ST Iger’sshareholderThe total number continues to decrease. Data shows that on October 29, 2021, the total number of shareholders of *ST Iger was about 54,700, a decrease of 1,600 from September 30, 2021.

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Investors have been fleeing faster this year. Statistics show that since 2022, the stock price of *ST Iger has fallen by 54.67%.

With the deepening of the registration system reform, the delisting of A shares has gradually become normalized. In 2021, a total of 4 stocks on the Shanghai and Shenzhen stock exchanges will be delisted because their share prices are lower than their face value. Another dozen stocks were delisted due to consecutive losses and other reasons.

On March 23, 2022, the Shanghai Stock Exchange announced that*ST new billion(rights protection)The decision to terminate the listing was made, which is also the first A-share company to be forced to delist in 2022.*ST new billionBecause of financial fraud for two consecutive years in 2018 and 2019, the situation of forced delisting due to major violations of law was finally involved.

  Haitong SecuritiesIt is pointed out that the delisting speed of A shares has accelerated significantly since 2019. The number of delistings from 2019 to 2021 is 10, 16, and 20, respectively, with year-on-year growth rates of 100%, 60%, and 25%, respectively. The number of listed companies accounted for 31% of all delisted A shares.

  Haitong SecuritiesIt is believed that the delisting system is an important supporting system for the implementation of the registration system, which helps to ensure that the market ecology under the registration system can achieve self-purification of the survival of the fittest and achieve a dynamic balance of the number of A-share listed companies.

chicken feathergameM&Acase

*ST Iger, formerly known as Julong Pipe Industry, was listed on the A-share market in September 2011.

From 2014 to 2015, Julong Pipe Industry plans to increase the acquisition of Aiglas, and make every effort to transformgamefield, with the help of a series of capital operations, superimposed on the secondary market at that timegameThe popularity of concept stocks, the company’s stock price continued to rise to 15.05 yuan per share, and the market value reached a maximum of about 27.7 billion yuan.

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In the following two years, the company successively acquired Hangzhou Souying, Thumbplay and other game industry-related assets. Like the acquisition of Aiglas at that time, the transaction was completed at a very high premium, bringing a large amount of goodwill to the listed company.

In July 2017, Julong Pipe Industry announced that it plans to change the full name and securities abbreviation, saying that the company’s main business has been changed to the InternetInformation service, software services and cultural industries. The changed securities will be referred to as Aiglas.

The game assets acquired by Aiglas were all completed during the commitment period from 2015 to 2018performanceand after the commitment period, the performance immediately changed.

Company 2019net profitLoss of 2.56 billion yuan, deducting non-net profit loss of 3 billion yuan, of which goodwill impairment was 2.96 billion yuan, and bad debt loss of receivables was 79.28 million yuan.

In 2020, after the huge loss in 2019, it suffered another huge loss, and the main reason for the loss was the impairment of goodwill caused by the substandard performance of many previously acquired companies.

Now, *ST Iger said in the latest announcement that in June 2021, the listed company itself will no longer run the original game business, and the relevant game R&D department has been dissolved; at present, the new trade business has also been suspended, and the company’s various businesses are currently are at a standstill.

Not only that, *ST Iger’s 2020 financial and accounting report was issued an audit report that could not express an opinion, and as a result, a “delisting risk warning” was implemented from April 30, 2021. In addition, because the company was issued an internal control verification report with a negative opinion in 2020 and provided funds to the controlling shareholder or provided external guarantees in violation of the prescribed procedures, and the circumstances were serious, *ST Iger was also issued an “other risk warning” on the same day.

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On November 17, 2021, *ST Iger received the China Securities Regulatory Commission’s “Advance Notice on Administrative Penalties and Market Prohibition”, pointing out that Igeras was suspected of not disclosing in the semi-annual and annual reports for 2018 and 2019. There are major omissions in the guarantees of the holding subsidiaries; the company did not disclose the non-operating capital occupation of related parties in the 2019 annual report, and there were major omissions; the company twice entered the account with false time deposit account opening certificates, resulting in the annual report of 2019. Report, 2020 first quarter report, semi-annual report, third quarter report inflated other current assets and inflated profits.

On the evening of January 25, *ST Iger disclosed that it is expected that the net profit for the whole year of 2021 will be a loss of 75.6688 million yuan to 114 million yuan. On the evening of February 15, an announcement was issued and revised as follows: It is estimated that the net profit loss attributable to the full year of 2021 is 460 million yuan to 562 million yuan. On March 16, *ST Iger released the second revision of the performance forecast, further lowered the performance forecast, and revised down the annual net loss to 730 million-892 million yuan.

*ST Iger said in the latest announcement that after the company and the annual audit accountant reconfirmed, the company’s net profit after the second revision in 2021 is still negative,Operating incomeStill less than 100 million yuan. Matters that cannot express opinions in the company’s 2020 annual audit report cannot be eliminated.

(Article source: Shanghai Securities News)

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