The highest huge loss is nearly 30 billion yuan. St Kangmei’s (600518) performance correction announcement has let the company’s investors “blow up the pot” and the loss exceeds the company’s market value by nearly three times. According to the statistics of Beijing business daily, among the enterprises that have disclosed annual report, performance express and performance notice, there are 11 stocks (excluding individual stocks in delisting period and suspended listed stocks) such as * ST Zhongtai, Guangzhou Langqi, * ST lashia and St Jizhi, with the loss in advance exceeding the total market value of the company (closing as of April 16), among which * ST HNA and * ST Zhongtai have higher losses, exceeding 10 billion yuan. In addition, among the 12 stocks with a deficit value, * ST Lasha and * ST Songjiang were in a deficit state in 2018 and 2019, which also means that the above two stocks will have three consecutive losses.
12 shares lost more than the total market value
Among the listed companies that have disclosed their performance in 2020, 12 shares, such as * ST Zhongtai and Guangzhou Langqi, have lost more than their total market value.
Specifically, among the 12 shares, * ST has the highest loss. According to the announcement of performance loss in 2020 disclosed by * ST HNA, the company expects to achieve a net profit of about – 65 billion to – 58 billion yuan during the reporting period. As of the close of April 16, the total market value of the company was 29.91 billion yuan, and the maximum advance loss exceeded twice the market value of the company.
St Kangmei and * ST Zhongtai also have an advance loss of more than 10 billion yuan, of which st Kangmei is expected to achieve a net profit of – 29.92 billion to – 24.48 billion yuan in 2020, and * ST Zhongtai is expected to achieve a net profit of – 10.237 billion yuan in 2020, according to its performance express. As of the close of April 16, the total market values of St Kangmei and * ST Zhongtai were 10.25 billion yuan and 8.273 billion yuan respectively.
In 2020, the remaining nine shares will all have a pre loss of less than 10 billion yuan, among which the losses of HNA technology, St digital and Xishui are between 5 billion and 10 billion yuan. According to the 2020 annual report disclosed by HNA technology, during the reporting period, the company’s attributable net profit is about -9.789 billion yuan, with a total market value of 6.06 billion yuan as of the closing of April 16; ST digital is expected to achieve attributable net profit of about -7.5 billion to -6 billion yuan in 2020, with a total market value of 3.023 billion yuan as of the closing of April 16; Xishui is expected to achieve attributable net profit of about -8.736 billion yuan, As of the close of April 16, the total market value of the company was 3.334 billion yuan.
Guangzhou Langqi, St Mengshi, * ST lashia, St Dongwang, * ST Songjiang, and Tianfang development have 6 shares with an advance loss of less than 5 billion yuan, but they all exceed the total market value of the company. Among them, St east net has the smallest loss. According to the company’s performance express, the net profit attributable to the company during the reporting period is about -1.075 billion yuan. As of the close of April 16, the total market value of the company is 1.01 billion yuan.
In an interview with Beijing business daily, Wang Chikun, an independent economist, said that many investors have “stepped on thunder” recently, and investors should stay away from individual stocks with huge performance losses.
Two shares will show three losses in a row
According to statistics, among the above 12 shares, * ST lashia and * ST Songjiang will have three consecutive losses.
First of all, let’s look at * ST lashia. According to the company’s 2020 performance express, the net profit attributable to the company during the reporting period was about -1.348 billion yuan. As of the close of April 16, the company’s share price was only 2.04 yuan / share, with a total market value of 1.117 billion yuan. In 2018 and 2019, * ST Rasha was already in a state of loss, and the net profit realized in that year was about – 160 million yuan and – 2.166 billion yuan respectively.
It should be pointed out that * ST Rasha has not been listed for a long time. The company only landed in the A-share market in September 2017, but it made a loss in the next year after listing, and has not been able to turn around the loss.
At present, * ST Lasha still has the risk of changing the actual controller. According to the progress announcement of the second judicial auction of the actual controller disclosed by the company on April 17, all the 80 million A-share shares held by Xing Jiaxing have been sold. If all or most of the 80 million A-share shares are transferred, Haitong asset management will hold 80 million shares, accounting for 14.61% of the total share capital of the company The number of shares held by Xing Jiaxing will be reduced to 274400, accounting for 0.05% of the total share capital of the company. This change in equity will lead to changes in the company’s controlling shareholders and actual controllers.
Similar to the situation of * ST laxa, * ST Songjiang will also have three consecutive losses.
*According to st Songjiang’s 2020 performance forecast, the company expects to achieve net profit of – 4.19 billion to – 2.82 billion yuan during the reporting period. In 2018 and 2019, * ST Songjiang achieved net profit of – 387 million yuan and – 912 million yuan respectively.
It is understood that * ST Songjiang landed in the A-share market in 2000, and its main business types include real estate business and information service business.
Investment and financing expert Xu Xiaoheng told Beijing Business Daily that according to the old rules, enterprises with three consecutive losses are no longer qualified for trading and will be suspended from listing. Under the new rules for delisting, although such enterprises are exempted from suspending listing, their risks should not be underestimated, and investors should invest cautiously.
According to * ST Songjiang, the company expects net assets to be negative at the end of 2020, and the company’s shares will continue to be subject to delisting risk warning after the disclosure of the annual report. In response to related issues, Beijing Business Daily reporter called * ST Songjiang Secretary Office for an interview, but no one answered the phone.
Four shares still lost money in the first quarter
Among the above 12 shares, Guangzhou Langqi, St east net, * ST Zhongtai and St Mengshi have disclosed the company’s first quarter performance, but they are not ideal and are still in a state of loss.
Specifically, Guangzhou Langqi expects to achieve a net profit of – 45 million to – 30 million yuan in the first quarter of 2021, with a loss of 19 million yuan in the same period last year. As for the main reasons for the company’s performance changes, Guangzhou Langqi said that during the reporting period, due to the impact of accumulated bank loans in the early stage of trade business, it had to pay about 34 million yuan of interest related to trade business loans.
St East network is expected to achieve attributable net profit of about – 40 million to – 27 million yuan in the first quarter, and net profit loss of 9.2842 million yuan in the same period of last year. In this regard, St east net said that the main reason for the performance change is due to the loss of litigation and arbitration, the provision of estimated liabilities and other non recurring profits and losses.
*St Zhongtai expects to achieve a net profit of about – 300 million to – 200 million yuan in the first quarter of 2021, which is mainly due to the impact of the shortage of funds. The company’s vehicle business is basically in a state of shutdown, and the company’s main product vehicle basically has no sales revenue. It should be pointed out that although the net profits in 2020 and the first quarter of 2021 are in a state of loss, the recent performance of * ST Zhongtai’s stock price is quite bright, including four trading boards from April 12 to 15.
On April 16, * ST Zhongtai’s share price fell by 2.63% to 4.08 yuan per share. Wang Chikun told Beijing Business Daily that the stock price should still be based on the company’s fundamentals, and investors should not blindly follow the trend of speculation and be wary of being caught.
St lion is expected to achieve net profit of – 270 million to – 220 million yuan in the first quarter, while the net profit loss of 201 million yuan in the same period of last year. St Mengshi explained that during the reporting period, as the pressure on capital has not been eased and effectively improved, the company’s businesses are still at a low level, and some subsidiaries’ business progress is slow due to the shortage of funds, the project cost increases and the gross profit rate decreases. The second batch of debt restructuring that the company originally planned to carry out has not been fully carried out and made substantial progress, and it is still burdened with a heavy burden of interest bearing liabilities, resulting in the high financial costs, default interest and liquidated damages of the company.
Beijing Business Daily reporter Dong Liangma
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