candycrushsagagame| Is the Pacific Alliance "aiding" the construction of Central and South China? Oolong!
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Special topic: one-word limit! The construction of Central and South China is on the verge of delisting to welcome a turning point.
The trainee reporter heard what he said.
"at present, the two sides are only concerned about cooperation.CandycrushsagagameTo explore the possibility, there is no specific plan or promotion plan. The matter is still in the planning stage and has a significant uncertain impact on the company. " On April 25th, ST Zhongnan replied to the letter of concern.
Market news shows that on the afternoon of April 20, led by the Haimen District Government of Nantong City, Jiangsu Province, Zhongnan Urban Construction, the controlling shareholder of ST, discussed debt resolution, equity transactions and other institutions such as Tai Meng Investment Group and Jiangsu assets.
On April 22nd, the first trading day after the above news was made public, ST Zhongnan (then securities referred to as Zhongnan Construction) won 10%.CandycrushsagagameThe share price closed at 0 after a rise of 53%.Candycrushsagagame.84 yuan per share, slow downCandycrushsagagameThe risk of "face value delisting".
Immediately, the Shenzhen Stock Exchange questioned the authenticity of the above negotiations.
Although Tai Meng Investment Group declined to comment on this, a reporter from China Fund Daily learned that the above negotiations were held at a forum organized by the relevant government, and there were preliminary exchanges between the parties.
Disclosure after regulatory challenge
Reporters found that ST Zhongnan and its controlling shareholder Zhongnan Urban Construction did not release relevant information through official channels for the above negotiations, but ST Zhongnan confirmed to some media on April 21 that it was true, causing widespread market attention.
On April 25, ST Zhongnan Securities Department staff replied that this is the action of the company's controlling shareholders, coupled with the preliminary negotiations, the company does not need to disclose information in accordance with the relevant rules.
However, the above talks triggered large fluctuations in ST Zhongnan's share price, especially the daily limit on April 22nd.
The staff of the Central South Securities Department of ST replied that based on the above situation, the company made an explanation at the performance meeting on April 23 and explained it in the letter of concern.
In response to the above negotiations, its management responded to the above negotiations at the 2023 annual results meeting held in Central South of ST on April 23: "the company's controlling shareholders have indeed consulted with relevant institutions on cooperation matters, and the company has not received any further information so far."
ST Zhongnan management further said that if the relevant cooperation involves the disclosure of information related to the company, the company will urge the controlling shareholders to fulfill their information disclosure obligations in a timely manner.
The above negotiations and the early actions of ST Central-South and Central-South urban construction prompted the Shenzhen Stock Exchange to issue a letter of concern on the evening of April 22, asking ST Zhongnan to explain the authenticity of the above-mentioned matters.
In this regard, ST Zhongnan asked Zhongnan Urban Construction to obtain feedback: "on April 20, under the organization of Haimen District Government in Nantong City, Jiangsu Province, it discussed the possibility of cooperation with Tai Meng Investment Group and Jiangsu assets on matters including its corporate debt restructuring, stock debt repayment, strategic investment, and so on."
The risk of "face value delisting" increases
Based on the popularity of Tai Meng Investment Group, the above negotiations have aroused widespread concern from the outside world.
On April 22nd, ST Zhongnan (then referred to as Zhongnan Construction) gained 10.53% of the daily limit, closing at 0.84 yuan per share as of the day, leaving only two 10% limit for the delisting "lifeline" of 1 yuan per share.
On April 19, on the eve of the above negotiations, ST Zhongnan closed at 0.76 yuan per share, down 9.52%, below 1 yuan per share for 11 consecutive trading days.
The second announcement of ST Zhongnan said that the company may be terminated because the closing price of the stock is less than 1 yuan per share in a row.
After the above negotiation information was made public, a series of coincidences appeared.
On the evening of April 22nd, ST Zhongnan disclosed that the 2023 annual report shows that the company's net profit after deduction is-4.627 billion yuan, and the company's net profit after deduction is-4.627 billion yuan. The 2023 financial report was issued an unqualified audit opinion with significant uncertainties related to continuing operations.
As the audited net profit and net profit after deduction of ST Zhongnan in 2021, 2022 and 2023 are all negative, according to the provisions of 9.8.1 of the rules governing the listing of stocks on the Shenzhen Stock Exchange, the company's shares will be subject to other risk warnings, and the securities will be changed to ST Zhongnan for short.
On April 25, ST Zhongnan disclosed the details of the above negotiations in a letter of concern. On that day, the share price fell 5% to 0.76 yuan per share as of press time.
If the stock price closes at 0.76 yuan per share on April 25, ST Zhongnan will face the situation that the closing price is less than 1 yuan per share for 14 consecutive trading days.
It is difficult for ST Zhongnan to prevent "face value delisting".
At present, the price of ST in Zhongnan is up and down by 5%. In order to avoid the closing price of not less than 1 yuan per share for 20 consecutive trading days, it must rise and fall by the daily limit of 6 trading days starting from April 26.