Is it necessary to lose money for two consecutive years?

No, the new delisting regulations stipulate that if a listed company loses net profit and its operating income is less than 100 million yuan, it will be ST (the requirement of two years of losses is cancelled). If it loses net profit for two consecutive years and If the operating income is less than 100 million yuan, it will be delisted directly and the re-listing link will be cancelled.

It should be noted that the rise and fall limit of ST stocks is 5. Because ST stocks are relatively risky, the rise and fall range is smaller than other stocks. The rise and fall limit of ST stocks on GEM is 20, which is generally Investors are not recommended to operate ST stocks.

ST refers to the stocks of domestic listed companies that have been subject to special treatment, and is also a delisting risk warning.

ST stocks refer to stocks that have been issued a delisting risk warning by domestic listed companies that have suffered operating losses for two consecutive years.

ST stocks

The Shanghai and Shenzhen Stock Exchanges announced on April 22, 1998 that according to the stock listing rules implemented in 1998, stocks with abnormal financial conditions or other conditions would be listed. Corporate stock transactions are subject to special treatment.

What is ST stock: On April 22, 1998, the Shanghai and Shenzhen Stock Exchanges announced that they would conduct special treatment (English special treatment, abbreviated as "ST"). Abnormalities mainly refer to two situations: first, the listed company's audited net profits for both fiscal years are negative, and second, the listed company's audited net assets per share in the most recent fiscal year are lower than the face value of the stock. During the period when the stock transactions of listed companies are subject to special treatment, their stock transactions should follow the following rules:

Abnormal financial status refers to:

1. The audit results of the most recent fiscal year show that shareholders The equity is negative; the net profit after deducting non-recurring gains and losses is negative;

2. The audit results of the most recent fiscal year show that its shareholders’ equity is lower than the registered capital, that is, the net assets per share are lower than Par value of shares;

3. Certified public accountants issue an audit report with disclaimer or negative opinion on the financial report of the most recent fiscal year;

4. Audited shareholders of the most recent fiscal year Equity, after deducting the portion not recognized by certified public accountants and relevant departments, is lower than the registered capital;

5. The latest audited financial report adjusted the profit of the previous year, resulting in losses for a consecutive fiscal year;

6. The financial situation is deemed abnormal by the exchange or the China Securities Regulatory Commission.

Other abnormal conditions refer to:

1. Due to natural disasters, major accidents, etc., the listed company's main operating facilities have suffered losses, and the company's production and operating activities have basically been suspended, and cannot be used within three months. Recovered;

2. The company is involved in a lawsuit or arbitration case in which it is liable for compensation. According to the legal documents of the court or arbitration institution, the cumulative amount of compensation exceeds 50% of the most recently audited net asset value of the listed company;

3. The company's main bank account has been frozen, affecting the normal operating activities of the listed company;

4. The company has other abnormal situations and the board of directors deems it necessary to implement special treatment for stock transactions. ;

5. When the people's court accepts a company bankruptcy case, it may declare the listed company bankrupt in accordance with the law;

6. The company's board of directors is unable to hold a normal meeting and form a board resolution;

7. The company's main debtor is declared to have entered bankruptcy proceedings by the court, but the company fails to make sufficient bad debt provisions for the corresponding claims, and the company faces major financial risks;

8. China Securities Regulatory Commission or the transaction Other circumstances identified as abnormal conditions.