"Wearing a hat" crushes the stock price! ST iKang, which has fallen for 31 consecutive years, blew the "final whistle", and 270,000 shareholders had no way to escape

Finance Associated Press

2024-06-18 22:03Published on the official account of Cailianshe under Shanghai Poster Industry Group

On June 18, the Financial Associated Press reported that after 31 consecutive falling limits, ST iKang finally came to the step of delisting.

Late today, ST iKang announced that as of June 18, 2024, the closing price of the company's shares has been below 1 yuan for 20 consecutive trading days. According to the relevant regulations, if the company's shares are terminated due to the forced delisting of transactions, the company's shares will not enter the delisting period, and the company's shares will be suspended from the opening of the market on June 19, 2024 (Wednesday).

The fate of delisting has long been locked, and the actual controller has been filed

In fact, the fate of ST iKang's delisting has long been locked in advance. On the closing day of June 12, ST iKang closed at 0.45 yuan / share, and the closing price has been lower than 1 yuan / share for 16 consecutive trading days, and it has locked 1 yuan in advance for delisting.

In response to the risk of ST iKang's delisting, the regulatory authorities have also taken corresponding measures. On the evening of June 12, iKang Technology announced that the China Securities Regulatory Commission had decided to file a case against the company and its actual controller, Zou Chenghui, due to suspected violations of information disclosure laws and regulations.

In addition to the plummeting stock price and being placed on file for investigation, ST iKang was also exposed to the news that the headquarters was "empty" and stopped work and production. According to media reports, on June 11, some netizens posted videos and photos saying that iKang Technology's headquarters in Hangzhou, Zhejiang Province was empty. According to the photos leaked at the scene, the door of the office building was closed, and even the office computers were gone, leaving only empty workstations and some green plants that had not been moved. At the entrance of the Hangzhou headquarters of iKang Technology, a notice was posted, which read, "Due to the company's internal work arrangements in the near future, there may be no staff working here", and said that visiting shareholders can go to the company's headquarters in Zhangjiagang City, or call a special line.

On June 7, ST iKang announced that from June 8, 2024, its holding subsidiaries Ganzhou Akcome Optoelectronics, Zhejiang Akcome Optoelectronics, and Huzhou Akcome Optoelectronics plan to temporarily suspend the company's high-efficiency solar cell module production line. Subsequently, ST Akcome announced that from June 12, the production line of high-efficiency solar cell modules will be temporarily suspended.

Misled investors that "there is no risk of being ST" and "flickering overweighting"

ST Elken's problems don't stop there. As early as the beginning of the year, iKang Technology released a performance forecast for losses in 2023, which also caused concerns among many small and medium-sized shareholders. On February 5 and April 15 this year, the company's interactive platform replied to investors' questions about whether the company has ST risks, saying that "the company does not have the risk of being ST at present".

However, the reply of the secretary of the board of directors on the interactive platform was quickly "slapped in the face". On April 30, iKang Technology announced its 2023 annual financial report, with the company's operating income in 2023 being 4.662 billion yuan, a year-on-year decrease of 30.32%, and a net profit loss of 826 million yuan. As a result, the company's net profit before and after deducting non-recurring gains and losses in the last three fiscal years was negative. On the same day, Akcome Technology also issued an announcement saying that due to continuous losses, the auditor issued an audit report with a qualified opinion on the material uncertainty related to continuing operations, and at the same time issued a negative opinion on the company's internal control in 2023; From May 6, Akcome Technology will be subject to other risk warnings, and the stock abbreviation will also be changed to "ST Akcome".

It was from the day it was "hatted" that the company's stock price started the road of "continuous falling limit". The market shows that since May 6, ST Akcome's share price has experienced 31 consecutive down limits, and has never opened the fall limit, as of today's close, the stock price is only 0.37 yuan / share. According to the first quarter report of this year, the number of ST iKang shareholders is 276,800, since the company was ST, more than 270,000 shareholders have not had a chance to flee one day, and now they can only accept the fate of stock delisting.

It is worth mentioning that before the 31 consecutive fall limits, the company's actual controllers and major shareholders also made a move of "flickering to increase their holdings".

On February 27, ST iKang announced that the company's controlling shareholder iKang Industrial and its affiliates plan to increase their holdings by no more than 200 million yuan (inclusive) and not less than 100 million yuan within six months from the date of disclosure of the announcement. However, on May 27, ST iKang said that the controlling shareholder had not increased its stake in the company.

Back in 2011, when iKang was listed, the Zou Chenghui family held a total of 43.63% of the company's shares, and from 2017 to 2022, major shareholders continued to reduce their holdings, reducing their holdings by a total of 627 million shares and cashing out 2.054 billion yuan.

(Finance Associated Press Lu Qinglian)

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