"Active delisting stocks" is back to the experts: the re-listing channels are gradually becoming smoother

"Active delisting stocks" is back, experts say

Channels for re-listing are getting smoother

　　Our reporter Wen Jicong Li Yuyang

　　After ST Changyou, the A-share market ushered in the second relisted company.

　　On the evening of June 7, SINOMACH announced that its stock was relisted on the Shanghai Stock Exchange on June 8. After the company's stocks are re-listed, they are traded on the risk warning board, and the securities are referred to as "ST Country Reload".

　　The predecessor of SINOMACH Heavy Duty, Heavy Duty Heavy Duty, was established in 2001. It is mainly engaged in the research and development and manufacturing of heavy equipment, and was listed on the Shanghai Stock Exchange in February 2010. In 2014, the company was suspended from listing for three consecutive years of losses. In May 2015, *ST repeated the initiative to delist the market, and in July of the same year it was transferred to the national SME share transfer system (new third board) transaction.

　　The voluntary delisting has won reform opportunities for enterprises. In 5 years, SINOMACH has achieved profitability for 4 consecutive years. The company comprehensively implemented measures in terms of debt restructuring, asset burden reduction, product structure adjustment, and personnel diversion. It achieved a turnaround from losses in 2016, and further consolidated the results of reforms in 2017 and 2018; in February 2018, the company completed its holding The merger and acquisition of China National Heavy Machinery and China National Heavy Industry Corporation, a high-quality asset in the heavy equipment segment of the shareholder SINOMACH, was renamed SINOMACH.

　　Zhang Yongji, director of the Corporate Governance and Information Disclosure Research Center of Beijing Institute of Technology, believes that after the reorganization of SINOMACH, through debt restructuring, bigger and stronger main businesses, mergers and acquisitions, etc., it has restored its sustainable operating capacity and has a good demonstration effect.

　　"After ST Changyou, SINOMACH has become the second company to relist in the A-share market, marking the delisting and relisting channels are becoming smoother. The relisting helps resolve the risks, bottlenecks and Difficulties, promote the implementation of the delisting system more normal." Chen Li, director of Chuancai Securities Research Institute said.

　　However, due to the re-listing of SINOMACH, there are many voices in the market that are "optimistic about delisting stocks." Experts in the industry and SINOMACH remind investors to guard against risks.

　　SINOMACH reminds investors that the company has risks of being unable to implement equity refinancing due to insufficient cash dividends and the decline of the downstream industry's prosperity. In the early stage of re-listing, avoid blindly following the speculation.

　　Pan Helin, Executive Dean of the Digital Economic Research Institute of Zhongnan University of Economics and Law, said that the active delisting "resurrection" does not mean that the delisting stocks have investment value, nor does it mean that the strict delisting system will be loose, and companies with good textures still have value. The characteristics of investment, some poor companies still have a high investment risk, investors should not "spread small" "spread poor".

　　Wen Jicong Li Yuyang