Giant Thunder Is Approaching: 32 Enterprises To Enter The Annual Report Disclosure Countdown Delisting Risk "Rain Coming"

After the Spring Festival, the Shanghai and Shenzhen Stock Exchange made arrangements under the influence of the new crown pneumonia epidemic. The eligible listed companies could postpone the disclosure of the 2019 annual report according to the regulations, but not later than June 30th.

At present, there are less than 5 trading days from the final disclosure deadline of the 2019 annual report, but as of June 24th, at least 32 listed companies have not disclosed the 2019 annual report.

In twenty-first Century, the economic news reporter noted that most of the listed companies that had not yet disclosed their annual reports faced with business difficulties or even delisting risks. What is more, such as the storm group, due to the fact that the chief financial officer and audit institution have not yet been hired, the company is not expected to disclose the 2019 annual report and the 2020 first quarter earnings forecast and quarterly report until June 30th.

According to the relevant provisions of the gem, the storm group stock will be suspended from July 1st, when the company's shares will stop trading.

"In light of past years, the quality of the annual reports disclosed by the last time point is generally not good, and many companies may not be able to disclose it in the end." In June 24th, a private equity agency in Southern China noted that it was.

32 companies have not yet disclosed their annual reports.

Even if the regulators extend the deadline for the disclosure of the annual report for two months, at the eleventh hour, there are still many listed companies' annual reports.

Wind data show that up to now, more than 32 listed companies have not disclosed annual reports, of which 23 have disclosed annual reports, but most of them are enterprises with huge losses or sharp decline.

Such as *ST Pegasus, zhong chang data, Hua Changda, *ST Katie, *ST Kang and so on, 9 listed companies expect to lose more than 1 billion yuan; *ST rich control, Qianshan medicine machine, ST Tiancheng and other losses account for more than 500 million.

In addition, the twenty-first Century economic report reporter analysis found that most of these enterprises are facing difficulties in operation, the annual report data "miserable" or the risk of delisting.

Among them, *ST Pegasus, 2018 audited net profit is negative, and the company's 2018 annual financial report has been issued a report that can not be expressed, if the company's audited net profit in 2019 continues to be negative, the company's stock trading will be implemented warning of delisting risk.

*ST Kang's financial report in 2018 is also unable to express its opinion. If the company's financial report continued to be issued an audit report that can not express its opinion or negative opinion in 2019, the Shenzhen Stock Exchange will suspend the company's stock from the date of the company's disclosure of the annual report and make a decision whether to suspend the listing of the company's stock within 15 trading days after the suspension.

*ST Katie's situation is also not optimistic. The net profit of the company in 2017 and 2018 has been negative for two consecutive years, and the annual financial report has been issued an audit report that can not be expressed. In April 29th, the company's 2019 main business performance expected net profit of -19.11 billion yuan, or will touch the relevant provisions, and the company's stock may be terminated.

ST Tiancheng although the current deficit is not large, but because of the existence of the controlling shareholder of the galaxy Tiancheng Group non operating capital and illegal guarantee situation, the company's stock was put on other risk warning in May 24, 2019. In addition, as of May 26th, ST Tiancheng has involved 505 cases of Securities Misrepresentation liability disputes, the total amount of litigation amounted to 83 million 684 thousand and 300 yuan, accounting for the company's most Nearly 6.86% of the net assets audited.

It is worth mentioning that, although these enterprises have not yet disclosed their annual reports, investors have already started voting with feet, or some companies have left the A share market in advance because of the criteria for delisting the face value.

As of the close of June 24th, the price of *ST Pegasus has dropped to 0.88 yuan / share. If the company's stock closing price is lower than the face value of the stock for 20 consecutive trading days (excluding trading days of the company's all day suspension), the company's shares will be terminated. In addition, *ST rich control, *ST Katie, ST Chengcheng, ST eastern ocean, intercontinental oil and gas, *ST new billion, ST Tiancheng and other listed companies share prices are lower than 2 yuan / share.

Yang Delong, executive general manager of Qianhai open source fund management company, said: "denomination is an important arrangement. It is a sharp weapon for delisting some bad stock and junk stocks, and finally played a role. Over the past few years, value investing has prevailed, and funds have become more and more aware that good companies can have long-term investment opportunities, while performance shares and junk stocks have no chance, so junk stocks will be abandoned by funds. Therefore, regardless of strict supervision or market self selection level, the final performance shares and junk stocks will exit the market.

The regulators extended the deadline for the disclosure of the annual report for two months, but there are still many listed companies' annual reports. -IC photo

Annual report is not fidelity.

In fact, in addition to the listed companies that have not yet disclosed their annual reports, the companies that have been late in the last stage of the annual report have also buried a lot of "thunder pit" which shocked the market. Some of them are not only losing their performance, but also having doubts about their ability to continue operation.

According to incomplete statistics of twenty-first Century economic report, since June, a total of 46 listed companies in A share have disclosed 2019 annual reports. Only 17 of them were issued with standard unqualified opinions, and the remaining 29 listed companies were issued non-standard audit opinions by audit institutions.

Including the Great Wall film and television, *ST Hua Xun, Sheng Yun environmental protection, *ST drugs and other 13 companies have been issued by the audit institutions can not express their views on the audit report, Gu technology has been issued "with emphasis on the paragraph of the unqualified opinion" audit report, Guangdong Rong Tai, *ST Liyuan, Cody dairy, Wanfeng Ao Wei, ST Kang Mei and other 15 enterprises were issued "reservations" audit report.

More typical is the 23 day disclosure of the earnings of Zhongtai automobile, the report shows that the company's operating income in 2019 was 2 billion 986 million yuan, down 79.78% compared to the same period last year, net profit loss of 11 billion 190 million yuan, a profit of about 800 million yuan in the same period last year, down 1498.98% as compared with the same period last year. The net cash flow generated by the company's activities during the same period was -57.9 billion, compared with -23.1 billion in the same period last year, a decrease of 150.31% over the same period last year.

Lou Guohai, director of Zhongtai automobile, said it was unable to guarantee the authenticity, accuracy and completeness of Zhongtai automobile annual report.

Lou Guohai pointed out that the company's ability to continue to operate has greater uncertainty. Earlier, the acquisition of target TiOx group limited to the performance of the company's compensation is difficult to achieve, the company is faced with numerous litigation and guarantee matters. Under such circumstances, it is impossible to reasonably estimate the amount of loss caused by the company's performance compensation and contingencies, and in combination with the audit results which can not be expressed by the auditors, it is impossible to confirm the authenticity, completeness and accuracy of the financial data of the company's sales revenue, gross profit and net profit attributable to the shares of Listed Companies in 2019.

"Most of the postponed disclosure of annual reports contains risks. The proportion of problems in annual reports is very high. Some enterprises did not affect the annual reports because of the epidemic situation, but rather" wrangling "with the intermediaries. The private placement agency pointed out.