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After the disclosure of the 2021 annual report, more than 40 companies in the Shanghai and Shenzhen stock exchanges have reached a mandatory delisting, setting a record high for A-shar.
A few days ago, the A-share listed company *ST Haiyi (600896) issued an announcement saying that the company received the "Shanghai Stock Exchange's Advance Notice on the Proposed Termination of the Listing of Lanhai Medical Industry Investment .
, L.
", and the former high-end medical service "" "Star Enterprise" may bid farewell to the capital market and attract market attention; at the same time, the pressure on the capital market caused by the new delisting regulations is testing the long-term operating power of pharmaceutical compani.
, L.
", and the former high-end medical service "" "Star Enterprise" may bid farewell to the capital market and attract market attention; at the same time, the pressure on the capital market caused by the new delisting regulations is testing the long-term operating power of pharmaceutical compani.
Capital risk far exceeds expectations
*ST Haiyi's delisting has become a foreshadowing
Lanhai Medical (*ST Haiyi, 600896), which was caught in the delisting storm, is actually the controller and chairman Mi Chunlei, who is a mysterious capital boss in Shangh.
"The commercial territory has made the delisting of *ST Haiyi a hot topic of public opini.
"The commercial territory has made the delisting of *ST Haiyi a hot topic of public opini.
The starting point of the Mi Chunlei family's fortune was the infrastructure project on Chongming Island in Shanghai, which earned the first pot of go.
With the successful layout of real estate, finance and other fields, Mi Chunlei also tasted the "bonus" brought by capital operati.
With the successful layout of real estate, finance and other fields, Mi Chunlei also tasted the "bonus" brought by capital operati.
In 2015, Mi Chunlei obtained a life insurance license, turned from a real estate developer into a capital boss, and established Shanghai Li.
In the five years since then, the "Lanhai Department" has made frequent moves, making frequent bets in the fields of insurance, banking and real esta.
In the five years since then, the "Lanhai Department" has made frequent moves, making frequent bets in the fields of insurance, banking and real esta.
The rapid operation of the "real estate + finance" money printing machine also made Mi Chunlei think about further expanding the industrial territo.
The "ten years of medical reform" reform of public hospitals and the transformation and upgrading of the pharmaceutical industry have not only ushered in the "golden decade" of the pharmaceutical market, but also made the medical sector gradually become the top priority of the assets of the "Lanhai Departmen.
The "ten years of medical reform" reform of public hospitals and the transformation and upgrading of the pharmaceutical industry have not only ushered in the "golden decade" of the pharmaceutical market, but also made the medical sector gradually become the top priority of the assets of the "Lanhai Departmen.
In 2015, at the darkest moment for the global shipping industry, Mi Chunlei obtained the controlling stake that China Shipping, the original controlling shareholder of China Shipping Haisheng, intends to se.
At that time, the company invested a total of about 3 billion yuan and won a 482% stake in Zhonghai Haishe.
At that time, the company invested a total of about 3 billion yuan and won a 482% stake in Zhonghai Haishe.
After taking over Zhonghai Haisheng, Mi Chunlei changed its name to Lanhai Medical, divested all shipping assets, and began to build a medical and health strategy platform, deploying high-end rehabilitation hospitals, high-end medical clinics, online hospitals and other businesses, and transforming into the medical and health fie.
The reality is cruel after all, and the road in the field of medicine is also not easy to take, especially the high-end medical service sector that Lanhai Medical focuses .
From 2015 to 2017, the net profit of Lanhai Medical was 702 million yuan, -432 million yuan, and -694 million yuan respective.
After two consecutive years of losses, a delisting risk warning was implemented in 201
From 2015 to 2017, the net profit of Lanhai Medical was 702 million yuan, -432 million yuan, and -694 million yuan respective.
After two consecutive years of losses, a delisting risk warning was implemented in 201
In order to take off the hat of "delisting risk warning", in 2018, Lanhai Medical could only survive with a broken arm, selling 147 million shares of Donghua Software held by the company, and 103 million shares of Donghua Software held by the company at the end of the period The fair value changes of 2018 enabled the company to turn losses into profits in 2018 and maintain its listing stat.
However, short-term drinking to quench thirst cannot fundamentally reverse the downward trend of the company's performan.
After a series of capital operations, Lanhai Medical's operating performance continued to deteriorate, frequently fell into losses, and sounded the delisting alarm aga.
From 2019 to 2021, Lanhai Medical's attributable net profit after deduction is about -191 million yuan, -166 million yuan, and -319 million yuan, respective.
At the same time, Lanhai Medical's share price has also collaps.
Since Mi Chunlei took over in 2016, the cumulative decline of Lanhai Medical's share price is nearly 9
In 2021, except for Lanhai Rehabilitation Hospital which will open at the end of 2021, the company only has 2 general outpatient departments in operation, and the income scale is relatively l.
At the same time, Lanhai Medical's share price has also collaps.
Since Mi Chunlei took over in 2016, the cumulative decline of Lanhai Medical's share price is nearly 9
In 2021, except for Lanhai Rehabilitation Hospital which will open at the end of 2021, the company only has 2 general outpatient departments in operation, and the income scale is relatively l.
Today, the "Lanhai Department" has to face the danger of being embattled on all sides, and the *ST Haiyi under the capital hype is now irreversib.
Delisting "Sword of Damocles"
Financial metrics sound the alarm
The delisting system is an important basic system in the capital market, and deepening the reform of the delisting system is an important link in strengthening the construction of the basic system in the capital mark.
With the implementation of the new "Securities Law", "the full implementation of the stock issuance registration system and the establishment of a normalized delisting mechanism" can form a healthy market with both entry and ex.
With the implementation of the new "Securities Law", "the full implementation of the stock issuance registration system and the establishment of a normalized delisting mechanism" can form a healthy market with both entry and ex.
In fact, the new delisting regulations have improved financial indicators, canceling the original single net profit indicator or operating income indicator, and changing it to "Negative net profit before/after deduction + deduction of business income unrelated to the main busine.
And the operating income after the income without commercial substance is less than RMB 100 million, and the listing has been terminated for two consecutive yea.
” At the same time, for companies that have been issued a delisting risk warning due to financial indicators, the financial indicators of the next year will be cross-appli.
And the operating income after the income without commercial substance is less than RMB 100 million, and the listing has been terminated for two consecutive yea.
” At the same time, for companies that have been issued a delisting risk warning due to financial indicators, the financial indicators of the next year will be cross-appli.
Up to now, there have been more than 40 listed companies involved in compulsory delisting, of which more than 90% belong to the situation involving financial delisti.
*ST Haiyi is triggered by the "audit report with qualified opinion" issued by the annual financial accounting repo.
The listing termination conditions stipulated in Article 11 of the Shanghai Stock Exchange Listing Rul.
*ST Haiyi is triggered by the "audit report with qualified opinion" issued by the annual financial accounting repo.
The listing termination conditions stipulated in Article 11 of the Shanghai Stock Exchange Listing Rul.
Comparison of old and new regulations for delisting
Industry analysts pointed out that the new delisting regulations have simplified the delisting process, shortening the delisting time from the original 4 years to 2 years, and the 2020 annual report is the first applicable year for the new delisting regulatio.
The market standard will be terminated directly, so this year and next year may be the year of delisti.
The market standard will be terminated directly, so this year and next year may be the year of delisti.
In addition, according to the requirements of the Securities Law and the relevant regulations of the exchange, listed companies must disclose the annual audit report as required before April 3 If they do not disclose in time, they may be marked with a delisting risk warni.
The "drug content" of companies with bounced annual reports is astonishingly high:
Tai'antang, Jiyao Holding, Future Shares, Zixin Pharmaceutical, ST Furen, and Yan'an Bikang are all pharmaceutical companies or include pharmaceutical busine.
Among them, Jiyao Holding, Zixin Pharmaceutical, ST Furen and other companies are all It is a chemical medicine or traditional Chinese medicine health care enterprise, Tai'an Tang is a chain pharmacy , and Yan'an Bikang's main business includes pharmaceutical intermediate research and development and pharmaceutical tra.
Among them, Jiyao Holding, Zixin Pharmaceutical, ST Furen and other companies are all It is a chemical medicine or traditional Chinese medicine health care enterprise, Tai'an Tang is a chain pharmacy , and Yan'an Bikang's main business includes pharmaceutical intermediate research and development and pharmaceutical tra.
Industry experts further stated that as a listed company, it is crucial to continue to create profits and build long-term sustainable development capabilities; if a listed company cannot build a sufficient "moat" in terms of "net profit" and "operating income", even if the It is publicly stated that according to the current financial delisting indicators, the company is not subject to the ST risk warning in the short term/currently, but the long-term financial and management risks will always be the "Sword of Damocles" hanging over the he.
According to the data of the Oriental Fortune Center, among the enterprises with negative net profit in the 2021 annual report under the A-share Shenwan Pharmaceutical biological classification , even if the operating income of the enterprise still has the possibility of turning losses into profits, in the face of policy reforms in the pharmaceutical industry and With market changes, we still need to pay close attention to long-term management and operational risks in the futur.
Investment focuses on the future, the industry reshuffle is intensifying, and the new market ecology of the survival of the fittest is gradually being bui.
After the disclosure of the 2021 annual report, more than 40 companies in the Shanghai and Shenzhen stock exchanges have reached a mandatory delisting, setting a record high for A-shar.
A few days ago, the A-share listed company *ST Haiyi (600896) issued an announcement saying that the company received the "Shanghai Stock Exchange's Advance Notice on the Proposed Termination of the Listing of Lanhai Medical Industry Investment .
, L.
", and the former high-end medical service "" "Star Enterprise" may bid farewell to the capital market and attract market attention; at the same time, the pressure on the capital market caused by the new delisting regulations is testing the long-term operating power of pharmaceutical compani.
, L.
", and the former high-end medical service "" "Star Enterprise" may bid farewell to the capital market and attract market attention; at the same time, the pressure on the capital market caused by the new delisting regulations is testing the long-term operating power of pharmaceutical compani.
Capital risk far exceeds expectations
*ST Haiyi's delisting has become a foreshadowing
Lanhai Medical (*ST Haiyi, 600896), which was caught in the delisting storm, is actually the controller and chairman Mi Chunlei, who is a mysterious capital boss in Shangh.
"The commercial territory has made the delisting of *ST Haiyi a hot topic of public opini.
"The commercial territory has made the delisting of *ST Haiyi a hot topic of public opini.
The starting point of the Mi Chunlei family's fortune was the infrastructure project on Chongming Island in Shanghai, which earned the first pot of go.
With the successful layout of real estate, finance and other fields, Mi Chunlei also tasted the "bonus" brought by capital operati.
With the successful layout of real estate, finance and other fields, Mi Chunlei also tasted the "bonus" brought by capital operati.
In 2015, Mi Chunlei obtained a life insurance license, turned from a real estate developer into a capital boss, and established Shanghai Li.
In the five years since then, the "Lanhai Department" has made frequent moves, making frequent bets in the fields of insurance, banking and real esta.
In the five years since then, the "Lanhai Department" has made frequent moves, making frequent bets in the fields of insurance, banking and real esta.
The rapid operation of the "real estate + finance" money printing machine also made Mi Chunlei think about further expanding the industrial territo.
The "ten years of medical reform" reform of public hospitals and the transformation and upgrading of the pharmaceutical industry have not only ushered in the "golden decade" of the pharmaceutical market, but also made the medical sector gradually become the top priority of the assets of the "Lanhai Departmen.
The "ten years of medical reform" reform of public hospitals and the transformation and upgrading of the pharmaceutical industry have not only ushered in the "golden decade" of the pharmaceutical market, but also made the medical sector gradually become the top priority of the assets of the "Lanhai Departmen.
In 2015, at the darkest moment for the global shipping industry, Mi Chunlei obtained the controlling stake that China Shipping, the original controlling shareholder of China Shipping Haisheng, intends to se.
At that time, the company invested a total of about 3 billion yuan and won a 482% stake in Zhonghai Haishe.
At that time, the company invested a total of about 3 billion yuan and won a 482% stake in Zhonghai Haishe.
After taking over Zhonghai Haisheng, Mi Chunlei changed its name to Lanhai Medical, divested all shipping assets, and began to build a medical and health strategy platform, deploying high-end rehabilitation hospitals, high-end medical clinics, online hospitals and other businesses, and transforming into the medical and health fie.
The reality is cruel after all, and the road in the field of medicine is also not easy to take, especially the high-end medical service sector that Lanhai Medical focuses .
From 2015 to 2017, the net profit of Lanhai Medical was 702 million yuan, -432 million yuan, and -694 million yuan respective.
After two consecutive years of losses, a delisting risk warning was implemented in 201
From 2015 to 2017, the net profit of Lanhai Medical was 702 million yuan, -432 million yuan, and -694 million yuan respective.
After two consecutive years of losses, a delisting risk warning was implemented in 201
In order to take off the hat of "delisting risk warning", in 2018, Lanhai Medical could only survive with a broken arm, selling 147 million shares of Donghua Software held by the company, and 103 million shares of Donghua Software held by the company at the end of the period The fair value changes of 2018 enabled the company to turn losses into profits in 2018 and maintain its listing stat.
However, short-term drinking to quench thirst cannot fundamentally reverse the downward trend of the company's performan.
After a series of capital operations, Lanhai Medical's operating performance continued to deteriorate, frequently fell into losses, and sounded the delisting alarm aga.
From 2019 to 2021, Lanhai Medical's attributable net profit after deduction is about -191 million yuan, -166 million yuan, and -319 million yuan, respective.
At the same time, Lanhai Medical's share price has also collaps.
Since Mi Chunlei took over in 2016, the cumulative decline of Lanhai Medical's share price is nearly 9
In 2021, except for Lanhai Rehabilitation Hospital which will open at the end of 2021, the company only has 2 general outpatient departments in operation, and the income scale is relatively l.
At the same time, Lanhai Medical's share price has also collaps.
Since Mi Chunlei took over in 2016, the cumulative decline of Lanhai Medical's share price is nearly 9
In 2021, except for Lanhai Rehabilitation Hospital which will open at the end of 2021, the company only has 2 general outpatient departments in operation, and the income scale is relatively l.
Today, the "Lanhai Department" has to face the danger of being embattled on all sides, and the *ST Haiyi under the capital hype is now irreversib.
Delisting "Sword of Damocles"
Financial metrics sound the alarm
The delisting system is an important basic system in the capital market, and deepening the reform of the delisting system is an important link in strengthening the construction of the basic system in the capital mark.
With the implementation of the new "Securities Law", "the full implementation of the stock issuance registration system and the establishment of a normalized delisting mechanism" can form a healthy market with both entry and ex.
With the implementation of the new "Securities Law", "the full implementation of the stock issuance registration system and the establishment of a normalized delisting mechanism" can form a healthy market with both entry and ex.
In fact, the new delisting regulations have improved financial indicators, canceling the original single net profit indicator or operating income indicator, and changing it to "Negative net profit before/after deduction + deduction of business income unrelated to the main busine.
And the operating income after the income without commercial substance is less than RMB 100 million, and the listing has been terminated for two consecutive yea.
” At the same time, for companies that have been issued a delisting risk warning due to financial indicators, the financial indicators of the next year will be cross-appli.
And the operating income after the income without commercial substance is less than RMB 100 million, and the listing has been terminated for two consecutive yea.
” At the same time, for companies that have been issued a delisting risk warning due to financial indicators, the financial indicators of the next year will be cross-appli.
Up to now, there have been more than 40 listed companies involved in compulsory delisting, of which more than 90% belong to the situation involving financial delisti.
*ST Haiyi is triggered by the "audit report with qualified opinion" issued by the annual financial accounting repo.
The listing termination conditions stipulated in Article 11 of the Shanghai Stock Exchange Listing Rul.
*ST Haiyi is triggered by the "audit report with qualified opinion" issued by the annual financial accounting repo.
The listing termination conditions stipulated in Article 11 of the Shanghai Stock Exchange Listing Rul.
Comparison of old and new regulations for delisting
Industry analysts pointed out that the new delisting regulations have simplified the delisting process, shortening the delisting time from the original 4 years to 2 years, and the 2020 annual report is the first applicable year for the new delisting regulatio.
The market standard will be terminated directly, so this year and next year may be the year of delisti.
The market standard will be terminated directly, so this year and next year may be the year of delisti.
In addition, according to the requirements of the Securities Law and the relevant regulations of the exchange, listed companies must disclose the annual audit report as required before April 3 If they do not disclose in time, they may be marked with a delisting risk warni.
The "drug content" of companies with bounced annual reports is astonishingly high:
Tai'antang, Jiyao Holding, Future Shares, Zixin Pharmaceutical, ST Furen, and Yan'an Bikang are all pharmaceutical companies or include pharmaceutical busine.
Among them, Jiyao Holding, Zixin Pharmaceutical, ST Furen and other companies are all It is a chemical medicine or traditional Chinese medicine health care enterprise, Tai'an Tang is a chain pharmacy , and Yan'an Bikang's main business includes pharmaceutical intermediate research and development and pharmaceutical tra.
Among them, Jiyao Holding, Zixin Pharmaceutical, ST Furen and other companies are all It is a chemical medicine or traditional Chinese medicine health care enterprise, Tai'an Tang is a chain pharmacy , and Yan'an Bikang's main business includes pharmaceutical intermediate research and development and pharmaceutical tra.
Industry experts further stated that as a listed company, it is crucial to continue to create profits and build long-term sustainable development capabilities; if a listed company cannot build a sufficient "moat" in terms of "net profit" and "operating income", even if the It is publicly stated that according to the current financial delisting indicators, the company is not subject to the ST risk warning in the short term/currently, but the long-term financial and management risks will always be the "Sword of Damocles" hanging over the he.
According to the data of the Oriental Fortune Center, among the enterprises with negative net profit in the 2021 annual report under the A-share Shenwan Pharmaceutical biological classification , even if the operating income of the enterprise still has the possibility of turning losses into profits, in the face of policy reforms in the pharmaceutical industry and With market changes, we still need to pay close attention to long-term management and operational risks in the futur.
Investment focuses on the future, the industry reshuffle is intensifying, and the new market ecology of the survival of the fittest is gradually being bui.
After the disclosure of the 2021 annual report, more than 40 companies in the Shanghai and Shenzhen stock exchanges have reached a mandatory delisting, setting a record high for A-shar.
A few days ago, the A-share listed company *ST Haiyi (600896) issued an announcement saying that the company received the "Shanghai Stock Exchange's Advance Notice on the Proposed Termination of the Listing of Lanhai Medical Industry Investment .
, L.
", and the former high-end medical service "" "Star Enterprise" may bid farewell to the capital market and attract market attention; at the same time, the pressure on the capital market caused by the new delisting regulations is testing the long-term operating power of pharmaceutical compani.
, L.
", and the former high-end medical service "" "Star Enterprise" may bid farewell to the capital market and attract market attention; at the same time, the pressure on the capital market caused by the new delisting regulations is testing the long-term operating power of pharmaceutical compani.
Capital risk far exceeds expectations
Capital risk far exceeds expectations *ST Haiyi's delisting has become a foreshadowing
*ST Haiyi's delisting has become a foreshadowing Lanhai Medical (*ST Haiyi, 600896), which was caught in the delisting storm, is actually the controller and chairman Mi Chunlei, who is a mysterious capital boss in Shangh.
"The commercial territory has made the delisting of *ST Haiyi a hot topic of public opini.
"The commercial territory has made the delisting of *ST Haiyi a hot topic of public opini.
The starting point of the Mi Chunlei family's fortune was the infrastructure project on Chongming Island in Shanghai, which earned the first pot of go.
With the successful layout of real estate, finance and other fields, Mi Chunlei also tasted the "bonus" brought by capital operati.
With the successful layout of real estate, finance and other fields, Mi Chunlei also tasted the "bonus" brought by capital operati.
In 2015, Mi Chunlei obtained a life insurance license, turned from a real estate developer into a capital boss, and established Shanghai Li.
In the five years since then, the "Lanhai Department" has made frequent moves, making frequent bets in the fields of insurance, banking and real esta.
In the five years since then, the "Lanhai Department" has made frequent moves, making frequent bets in the fields of insurance, banking and real esta.
The rapid operation of the "real estate + finance" money printing machine also made Mi Chunlei think about further expanding the industrial territo.
The "ten years of medical reform" reform of public hospitals and the transformation and upgrading of the pharmaceutical industry have not only ushered in the "golden decade" of the pharmaceutical market, but also made the medical sector gradually become the top priority of the assets of the "Lanhai Departmen.
hospital hospital hospitalThe "ten years of medical reform" reform of public hospitals and the transformation and upgrading of the pharmaceutical industry have not only ushered in the "golden decade" of the pharmaceutical market, but also made the medical sector gradually become the top priority of the assets of the "Lanhai Departmen.
In 2015, at the darkest moment for the global shipping industry, Mi Chunlei obtained the controlling stake that China Shipping, the original controlling shareholder of China Shipping Haisheng, intends to se.
At that time, the company invested a total of about 3 billion yuan and won a 482% stake in Zhonghai Haishe.
At that time, the company invested a total of about 3 billion yuan and won a 482% stake in Zhonghai Haishe.
After taking over Zhonghai Haisheng, Mi Chunlei changed its name to Lanhai Medical, divested all shipping assets, and began to build a medical and health strategy platform, deploying high-end rehabilitation hospitals, high-end medical clinics, online hospitals and other businesses, and transforming into the medical and health fie.
healthy healthy healthy The reality is cruel after all, and the road in the field of medicine is also not easy to take, especially the high-end medical service sector that Lanhai Medical focuses .
From 2015 to 2017, the net profit of Lanhai Medical was 702 million yuan, -432 million yuan, and -694 million yuan respective.
After two consecutive years of losses, a delisting risk warning was implemented in 201
From 2015 to 2017, the net profit of Lanhai Medical was 702 million yuan, -432 million yuan, and -694 million yuan respective.
After two consecutive years of losses, a delisting risk warning was implemented in 201
In order to take off the hat of "delisting risk warning", in 2018, Lanhai Medical could only survive with a broken arm, selling 147 million shares of Donghua Software held by the company, and 103 million shares of Donghua Software held by the company at the end of the period The fair value changes of 2018 enabled the company to turn losses into profits in 2018 and maintain its listing stat.
However, short-term drinking to quench thirst cannot fundamentally reverse the downward trend of the company's performan.
After a series of capital operations, Lanhai Medical's operating performance continued to deteriorate, frequently fell into losses, and sounded the delisting alarm aga.
From 2019 to 2021, Lanhai Medical's attributable net profit after deduction is about -191 million yuan, -166 million yuan, and -319 million yuan, respective.
At the same time, Lanhai Medical's share price has also collaps.
Since Mi Chunlei took over in 2016, the cumulative decline of Lanhai Medical's share price is nearly 9
In 2021, except for Lanhai Rehabilitation Hospital which will open at the end of 2021, the company only has 2 general outpatient departments in operation, and the income scale is relatively l.
At the same time, Lanhai Medical's share price has also collaps.
Since Mi Chunlei took over in 2016, the cumulative decline of Lanhai Medical's share price is nearly 9
In 2021, except for Lanhai Rehabilitation Hospital which will open at the end of 2021, the company only has 2 general outpatient departments in operation, and the income scale is relatively l.
Today, the "Lanhai Department" has to face the danger of being embattled on all sides, and the *ST Haiyi under the capital hype is now irreversib.
Delisting "Sword of Damocles"
Delisting "Sword of Damocles" Financial metrics sound the alarm
Financial metrics sound the alarm The delisting system is an important basic system in the capital market, and deepening the reform of the delisting system is an important link in strengthening the construction of the basic system in the capital mark.
With the implementation of the new "Securities Law", "the full implementation of the stock issuance registration system and the establishment of a normalized delisting mechanism" can form a healthy market with both entry and ex.
With the implementation of the new "Securities Law", "the full implementation of the stock issuance registration system and the establishment of a normalized delisting mechanism" can form a healthy market with both entry and ex.
In fact, the new delisting regulations have improved financial indicators, canceling the original single net profit indicator or operating income indicator, and changing it to "Negative net profit before/after deduction + deduction of business income unrelated to the main busine.
And the operating income after the income without commercial substance is less than RMB 100 million, and the listing has been terminated for two consecutive yea.
” At the same time, for companies that have been issued a delisting risk warning due to financial indicators, the financial indicators of the next year will be cross-appli.
And the operating income after the income without commercial substance is less than RMB 100 million, and the listing has been terminated for two consecutive yea.
” At the same time, for companies that have been issued a delisting risk warning due to financial indicators, the financial indicators of the next year will be cross-appli.
Up to now, there have been more than 40 listed companies involved in compulsory delisting, of which more than 90% belong to the situation involving financial delisti.
*ST Haiyi is triggered by the "audit report with qualified opinion" issued by the annual financial accounting repo.
The listing termination conditions stipulated in Article 11 of the Shanghai Stock Exchange Listing Rul.
*ST Haiyi is triggered by the "audit report with qualified opinion" issued by the annual financial accounting repo.
The listing termination conditions stipulated in Article 11 of the Shanghai Stock Exchange Listing Rul.
Comparison of old and new regulations for delisting
Industry analysts pointed out that the new delisting regulations have simplified the delisting process, shortening the delisting time from the original 4 years to 2 years, and the 2020 annual report is the first applicable year for the new delisting regulatio.
The market standard will be terminated directly, so this year and next year may be the year of delisti.
The market standard will be terminated directly, so this year and next year may be the year of delisti.
In addition, according to the requirements of the Securities Law and the relevant regulations of the exchange, listed companies must disclose the annual audit report as required before April 3 If they do not disclose in time, they may be marked with a delisting risk warni.
The "drug content" of companies with bounced annual reports is astonishingly high:
The "drug content" of companies with bounced annual reports is astonishingly high: Tai'antang, Jiyao Holding, Future Shares, Zixin Pharmaceutical, ST Furen, and Yan'an Bikang are all pharmaceutical companies or include pharmaceutical busine.
Among them, Jiyao Holding, Zixin Pharmaceutical, ST Furen and other companies are all It is a chemical medicine or traditional Chinese medicine health care enterprise, Tai'an Tang is a chain pharmacy , and Yan'an Bikang's main business includes pharmaceutical intermediate research and development and pharmaceutical tra.
pharmacy pharmacy pharmacyAmong them, Jiyao Holding, Zixin Pharmaceutical, ST Furen and other companies are all It is a chemical medicine or traditional Chinese medicine health care enterprise, Tai'an Tang is a chain pharmacy , and Yan'an Bikang's main business includes pharmaceutical intermediate research and development and pharmaceutical tra.
Industry experts further stated that as a listed company, it is crucial to continue to create profits and build long-term sustainable development capabilities; if a listed company cannot build a sufficient "moat" in terms of "net profit" and "operating income", even if the It is publicly stated that according to the current financial delisting indicators, the company is not subject to the ST risk warning in the short term/currently, but the long-term financial and management risks will always be the "Sword of Damocles" hanging over the he.
According to the data of the Oriental Fortune Center, among the enterprises with negative net profit in the 2021 annual report under the A-share Shenwan Pharmaceutical biological classification , even if the operating income of the enterprise still has the possibility of turning losses into profits, in the face of policy reforms in the pharmaceutical industry and With market changes, we still need to pay close attention to long-term management and operational risks in the futur.
Pharmaceutical pharmaceutical pharmaceutical enterprise enterprise enterprise Investment focuses on the future, the industry reshuffle is intensifying, and the new market ecology of the survival of the fittest is gradually being bui.
