A-share listed companies break the 4000 mark and


　　 6 companies have a market value of more than one trillion

　　On September 14th and 15th, the listing of two new shares of Huawen Foods and Shanghai Yanpu became a landmark event, and the number of A-share listed companies exceeded 4,000.

As of September 15, the total number of A-share listed stocks reached 4,094, with a total share capital of 7254.262 billion shares, a circulating share capital of 6,296.822 billion shares, and a total market value of more than 79 trillion yuan.

　　First ST shares on GEM

　　Yesterday, the GEM continued to attract the attention of the whole market. The three GEM stocks of Tianlong Optoelectronics, Dongfang Netli and Lucky New Materials will resume trading. After the resumption of trading, other risk warnings will be implemented. The stock rise or fall is still 20%, becoming the history of the GEM. The first batch of ST shares.

　　Among the three stocks, Lucky New Materials and Tianlong Optoelectronics may continue to lose money and there is a major uncertainty in the ability to continue operations. This triggered the Shenzhen Stock Exchange’s revised "Shenzhen Stock Exchange’s Stock Listing Rules on the Growth Enterprise Market (revised in 2020). )" Article 9.4 (1) of the relevant provisions, that is, "The company's production and operation activities have been severely affected and it is expected that it will not return to normal within three months."

There is also a very important statement related to the delisting risk warning in the new GEM regulations: in the financial delisting risk warning, if the audited net profit of the most recent fiscal year of a listed company is negative and the operating income is lower than 100 million yuan, the audited net assets at the end of the most recent fiscal year are negative, and the most recent fiscal year's financial accounting report is issued with an audit report that cannot express an opinion or a negative opinion, etc., a delisting risk warning will be implemented "*ST".

This requirement is different from the rules of the motherboard.

The Growth Enterprise Market adopts an indicator system that combines revenue and net profit, and the net profit adopts the standard of "net profit is lower before and after deduction of non-recurring gains and losses".

Therefore, it is no longer feasible for listed companies to lose money after deducting non-profits for many years without requiring risk warnings under the new GEM regulations.

　　According to statistics, a reporter from the Beijing Youth Daily found that with “half-year revenue less than 50 million yuan and net profit negative” as the screening criteria, 17 listed companies had revenue less than 50 million yuan, and 14 of them had deducted their net profit before and after For negative, they are Jiai Technology, Tianlong Optoelectronics, Bangxun Technology, Jianrui Woneng, Miao Exhibition, Xiyu Tourism, Zhongke Haixun, Lingda, Cultural Great Wall, Science and Technology Optics, Chengxi Aviation, Huachen Equipment, Zuojiang Technology, Dazhi Technology.

　　The market value of hundreds of companies exceeds 100 billion

　　At present, A-shares basically cover leading companies in various industries in China, the quality of excellent companies is increasing, and the army of 100 billion yuan in market value is also steadily expanding.

On August 8, 2001, Sinopec went public and became the first listed company with a market value of 100 billion yuan in A shares. As of the close of trading on September 14, there were 118 companies with a market value of 100 billion yuan in A shares.

　　Among them, Kweichow Moutai, Industrial and Commercial Bank of China, Ping An of China, Construction Bank, Agricultural Bank and China Life have a market value of more than 1 trillion yuan.

　　Most of the companies with a market value of 1 trillion yuan are traditional industries, but among the companies with a market value of 100 billion yuan, high-tech industries such as biomedicine and computers also account for a high proportion. There are a total of 35 listed companies in these industries with a market value of more than 100 billion yuan. .

　　Since the opening of the Sci-tech Innovation Board one year ago, as of September 14th, the number of IPO companies on the Sci-tech Innovation Board has reached 150. There are also a number of Internet companies such as JD Digital, Ant Group, Optical Cloud Technology, and Aoji Technology. The Science and Technology Innovation Board was listed.

　　28 companies withdraw from A shares this year

　　Compared with the booming IPO market, the number of A-share delisting companies has never been high.

Since the first delisted company appeared in 2001, in 20 years, A-shares have produced 77 delisted companies in the true sense (continuous performance losses or major violations), which account for a very low proportion of the total number of listed companies, and mature There is still a big gap in the data on the proportion of delisted companies in the capital market.

　　In the past, the difficulty of delisting listed companies was a major “severe disease” in the A-share market.

This state of almost "in and no out" makes ST stocks often exploded, and it also causes many "wearing hat" companies with poor performance to be sought after, restricting the survival of the fittest in the stock market.

After the establishment of the Science and Technology Innovation Board and the Growth Enterprise Market, the reforms were accelerated and the registration system was piloted, the delisting of listed companies gradually became normal.

Statistics from the China Association of Listed Companies show that since this year, 28 A-share companies have been delisted, including 15 compulsory delisting and 13 restructuring delisting.

　　Text/Reporter Liu Shenliang Coordinator/Yu Meiying