The meaning of warning announcement of termination of listing risk

The termination of the listing risk warning announcement means that the stock may not be listed and there is a risk of delisting.

The delisting risk warning usually starts with st after three prompts. After the stock is marked with st, the price limit is 5%. On April 4, 2003, Shanghai Stock Exchange and Shenzhen Stock Exchange issued the Notice on Strengthening Risk Warning for Companies with the Risk of Discontinuation of Listing, and began to implement the delisting risk warning system, which was implemented on May 12 of that year.

The so-called delisting risk warning system refers to the stock exchange's "special treatment of warning delisting risk" for stock transactions of companies with delisting risk. It is a special treatment added on the basis of the original "special treatment". Its main measure is to add "*ST" before its stock abbreviation to distinguish it from other stocks. The daily rise and fall of stocks subject to delisting risk warning is limited to 5%.

Under any of the following circumstances, the company will be at risk of being terminated from listing:

(1) The audited net profit in the last two fiscal years has been negative continuously or has been negative continuously after retrospective restatement.

(2) The audited net assets at the end of the latest fiscal year are negative or negative after retrospective restatement.

(3) The audited operating income in the latest fiscal year is less than 6.5438+million yuan or less than 6.5438+million yuan after retrospective restatement.

(4) The financial accounting report of the most recent fiscal year was issued by an accounting firm with an audit report that could not express opinions or negative opinions.

(5) The company's stock has been suspended for two months due to major accounting errors or false records in the financial accounting report, which was ordered by the China Securities Regulatory Commission to be corrected within the prescribed time limit.

(6) Failing to disclose the annual report or interim report within the statutory time limit, and the company's shares have been suspended for two months.

(7) The company may be dissolved.

(8) The court accepts the company's application for reorganization, reconciliation or bankruptcy liquidation according to law.

(IX) Because the equity distribution in Article 12. 14 does not meet the listing requirements, the company submitted a solution to the equity distribution problem to the Exchange within 20 working days and obtained the consent of the Exchange.

(10) Other circumstances identified by this Exchange.

After the delisting risk warning of stock trading is lifted, the listed company shall apply to the stock exchange for cancellation of special treatment, and make an announcement one trading day before the delisting risk warning is lifted according to the requirements of the exchange. On the announcement day, its shares and its derivatives will be suspended for one day, and the exchange will revoke the "*ST" in its stock abbreviation from the date of resumption of trading.

A listed company shall issue an announcement 1 trading day before the delisting risk warning is implemented for stock trading.

The audit results of small and medium-sized listed companies in the latest fiscal year show that the balance of external guarantee (except for companies within the scope of consolidated statements) exceeds 1 100 million yuan and accounts for more than 100% of the net asset value (except for companies whose main business is guarantee), and Shenzhen Stock Exchange will give a delisting risk warning to their stock trading.

If a small and medium-sized listed company is publicly condemned by the Shenzhen Stock Exchange again within 24 months after receiving the public condemnation from the Shenzhen Stock Exchange, the Shenzhen Stock Exchange will give a delisting risk warning to its stock trading.