China's A-shares this year's first delisted stock "surfaced"

　　China News Agency, Beijing, February 8th (Reporter Chen Kangliang) Hubei Kaile Technology Co., Ltd. (hereinafter referred to as *ST Kaile), a Chinese A-share listed company, announced on the 8th that the company received relevant information from the Shanghai Stock Exchange on the same day. Decision, the Shanghai Stock Exchange decided to terminate the company's stock listing.

Accordingly, *ST Kaile became the first A-share delisted stock this year.

　　According to the announcement, from December 29, 2022 to February 2, 2023, the daily closing price of *ST Kaile’s stock for 20 consecutive trading days was lower than 1 yuan, which triggered the compulsory delisting index of transaction category.

*ST Kaile will be terminated from listing and delisted on February 15, 2023.

　　According to the announcement, the stocks of companies subject to compulsory delisting for trading will not be traded during the delisting arrangement period.

*ST Kaile shall immediately arrange for the transfer of the stock to the National Equities Exchange and Quotations for listing and transfer after the stock is terminated from listing, and ensure that the company's stock can be listed and transferred within 45 trading days from the date of delisting.

　　*ST Kaile is currently negotiating with a brokerage firm, intending to sign an entrusted stock transfer agreement, entrust the brokerage firm to provide share transfer services, and authorize it to handle matters related to share withdrawal registration, share ownership confirmation, share registration and listing transfer.

　　According to public information, *ST Kaile's main business is the research and development, production and sales of private network communication products, optical fiber cables, communication silicon tubes, mobile smart terminals and other products.

In July 2000, the company was officially listed on the Shanghai Stock Exchange.

　　It is worth noting that, according to media statistics, in addition to *ST Kaile, there are currently many A-share listed companies on the verge of delisting, including *ST Kelin, *ST Jinzhou, *ST Zijing, *ST Zeda wait.

　　Li Xunlei, chief economist of Zhongtai Securities, said that in recent years, in the process of advancing the reform of the A-share registration system, the regulatory authorities have introduced new regulations for delisting, and the situation of "only entering and not being able to" in the A-share market has been broken. The number of companies in the market maintained a rapid growth, and the A-share targeted crackdown on "empty shell zombies" and "black apples" achieved phased results.

Under the comprehensive registration system, more stringent delisting systems are expected to be fully implemented, and the "normalization" of A-share delisting is the general trend.

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