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Introduction: Pengdu agriculture and animal husbandry, once the industry's big cattle and breeding industry leader, is now on the verge of delisting.
Source: Baidu Stock Market
The 20 billion billionaires of the past are now only left with chicken feathers. The collapse of the "Pengxin system" is not only the collapse of a business empire, but also a resounding slap in the face of the A-share market.
And this is just the beginning of the wave of delistings, and more listed companies are teetering on the ground. Sharp falls, falling limits, and oversized orders, shareholders are bleeding as they watch the numbers in their accounts shrink day by day.
The "leeks" wanted to cry without tears, watching their hard-earned money come to naught. One by one, the companies are delisted, what will happen to the remaining shareholders?
The richest man of the past 20 billion tasted defeat for the first time
The "Pengxin Department" collapsed with a bang?
Speaking of "Pengxin Department", many people may not be familiar with it, but when it comes to the name Jiang Zhaobai, it is estimated that many people will suddenly realize: "Oh, it is the 'real estate king' who came out of Ningbo Town!" "
Jiang Zhaobai's family history is simply a realistic version of a "self-made" inspirational drama. This post-60s uncle, born in an ordinary peasant family in Ningbo, relied on his ingenuity and extraordinary courage to become a wealthy man with a net worth of more than 20 billion yuan in just a few decades.
Data source: Baidu Encyclopedia
In addition to Pengxin Resources, Jiang Zhaobai has also successively controlled a number of listed companies, including Ningbo Fubang, Pengdu Agriculture and Animal Husbandry, etc. These companies are involved in a wide variety of industries, from mineral resources to agriculture to real estate, and Jiang Zhaobai has become an "all-rounder" entrepreneur.
However, the tree is a big wind, and blessings and misfortunes depend on it. Behind the rapid expansion of the "Pengxin system", there are huge risks. High leverage and high debt have become Jiang Zhaobai's "lethal weapons". Some people say that Jiang Zhaobai is playing a game of "drumming and passing flowers", as long as the capital chain continues, the company can continue to operate. But the problem is that once there is a problem in the capital chain, the entire empire will collapse with a bang.
Unfortunately, the day still came. In 2023, Pengdu Agriculture and Animal Husbandry suddenly suffered huge losses, with a total annual loss of 935 million yuan! You know, this is a company mainly engaged in beef cattle breeding, how can it lose so much? Could it be that the price of beef has fallen to the price of cabbage?
Data source: Baidu Stock Exchange
In fact, the problems of agriculture and animal husbandry in Pengdu are far more than that. The company's financial statements were questioned as having material problems, and even the annual report could not be disclosed on time. What's worse is that if the company's stock price has been below 1 yuan for 20 consecutive trading days, it faces the risk of delisting at any time.
Source: Shenzhen Stock Exchange Inquiry Letter
Data source: Baidu Stock Exchange
Seeing that the "Pengxin Department" empire he had worked so hard to build was crumbling, Boss Jiang estimated that he was bitter! However, as an old man in the capital market, Jiang Zhaobai is not a master who is tied up.
Just when Pengdu agriculture and animal husbandry were in jeopardy, Boss Jiang made a "stroke of genius": he announced that he would increase his holdings of the company's shares! This move, on the surface, is to convey confidence to the market, but in fact, it has been ridiculed by many investors as "scratching the itch in the boots".
Data source: Shanghai Securities News
What's more interesting is that at the same time that Jiang Zhaobai announced the increase in holdings, other executives of Pengdu Agriculture and Animal Husbandry were secretly reducing their holdings. This kind of operation of "increasing holdings with the left hand and reducing holdings with the right hand" reminds people of the old saying: "The mouth says don't, but the body is very honest." "
Data source: Aiqicha
Now Jiang Zhaobai, I am afraid that he never dreamed that he would one day fall from the "mining king" to the "delisting marginal person". This former 20 billion billionaire is now facing a double crisis of career and wealth.
The delisting tide is menacing! The lives of many A-share companies hang by a thread
After talking about the tragic experience of the "Pengxin system", let's take a look at the entire A-share market. The tide of delisting is surging, and a large wave of listed companies are struggling in the storm.
Speaking of this delisting wave, in addition to the Pengdu agriculture and animal husbandry just mentioned, there are also many "big-name" companies. For example, Guanghui Automobile, which was once dominant, is the largest auto dealer group in China! Who would have thought that such a behemoth would now be crumbling.
Let's take a look at the Oriental Group, a company that claims to be "China's leading agricultural industrialization enterprise", and now it is also in a hurry. These former star companies are now on the verge of delisting, and I have to say that this plot reversal is too big!
So the question is, how can these companies suddenly have to be delisted? Could it be that the bosses collectively took the wrong medicine? In fact, the reasons for delisting are varied and exciting!
The most common reason is a losing streak. Take Guanghui Automobile as an example, it has lost money for two consecutive years, with a loss of 2.6 billion yuan in 2022, and although it has improved in 2023, it is far from the market in previous years!
Data source: Baidu Stock Exchange
There are also some companies that are at risk of delisting because of negative net assets. To put it simply, the company has more debts than assets, and it is already a "loser". In this case, the company is basically relying on borrowing the new to maintain the operation, and there will always be a day when it can't hold on.
In addition, some companies have been forced to delist due to financial fraud, information disclosure violations and other reasons. These companies can be said to be "to blame", usually cutting leeks, and now they are finally having to pay the price for their actions.
Data source: Shenzhen Stock Exchange inquiry letter
Faced with the threat of delisting, these companies are pulling out all the stops. Some companies began to frantically "sell, sell, sell", selling assets and recovering funds; Some companies are looking to the "white knight" to save the day, hoping to bring in new investors; There are also companies that simply play financial "magic" and try to whitewash their performance through various accounting techniques.
However, no matter what tricks these companies use, the most intuitive reaction is reflected in the stock price. Once there is a risk of delisting, the stock price will fall like a roller coaster.
Taking Guanghui Automobile as an example, since the company announced the news of huge losses, the stock price has begun to fall sharply. From more than 2.21 yuan at the beginning of 2023 all the way down to less than 0.7 yuan now, a decrease of nearly 70%!
Now, the shareholders really want to cry without tears. Some shareholders complained: "I thought I had copied to the bottom, but I didn't expect that there were eighteen floors underground!" "
Data source: Baidu Stock Exchange
What's worse is that once the stock price falls below 1 yuan, it will face a delisting risk warning, commonly known as "wearing a hat".
Once the "hat is worn", the stock is given special treatment, trading is restricted, and liquidity drops significantly. At this time, it is difficult to sell stocks, and many investors can only watch their money become "waste paper".
The "leek" dilemma:
Will my money be saved if the stock is delisted?
After talking about the menacing delisting tide, we have to talk about the plight of the "leeks". Faced with the threat of delisting, many investors are in deep panic. Their primary concern is, "Will I be able to keep my money?" "
To be honest, it's a poignant question. originally wanted to come to the stock market to pan for gold, but it may end up with no return. This is reminiscent of the old saying: "The stock market is risky, and you need to be cautious when entering the market." "It's a pity that many people never remember this sentence when they make money, and they don't remember it until they lose money, and it's too late.
So, what exactly will the delisting have on investors? To put it simply, it's three words: very sad! No, it should be: it hurts!
Once a company is at risk of delisting, the stock price will rush down like a downhill car. Some stocks will even continue to fall to the limit, watching the hard-earned money fall down, that distress is worse than cutting meat!
There's a joke that says, "The stock fell so fast that there wasn't even time to repent." Although this is a joke, it expresses the voices of many shareholders. Many people may have just seen that the stock was still 2 yuan in the morning, and after a meal at noon, it fell to more than 1 yuan when they looked at it again.
In addition, the liquidity of the stock after delisting will be significantly reduced. To put it simply, you can't sell it if you want to.
Many investors may find that the stocks in their hands have suddenly become a "hot potato", and no one wants to take over. This feeling is like buying a bunch of food that has passed its expiration date, and you can't eat it, and you can't throw it away, you can only watch them spoil.
Someone might say, "Then let's sue the company and the major shareholders and make them lose money!" "It's a good idea, but the reality is skinny. Litigation is time-consuming and laborious, and it may not be completed for several years. Secondly, even if you win, many companies and major shareholders may have already "gone away", who do you go to lose money?
Some people may think: "Then let's go to the SFC to complain and let them take care of it!" "That's a good idea, but the problem is that the SFC's role is primarily to maintain order in the market, not to ensure that every investor makes money. They penalize companies that don't do the same, but these penalties often go into the treasury and have little to do with ordinary investors.
So, in the face of the risk of delisting, what should we ordinary investors do? We must learn to "detect early and prevent early". Always pay attention to the company's financial statements, announcements and other information, and if you find abnormal situations such as the company's performance continues to decline and the debt ratio soars, you should be vigilant.
Instead of panicking until the end, it's better to be vigilant at the beginning. The stock market is not a casino, let alone a money printing machine. Don't speculate on stocks with the mentality of getting rich overnight, that will only stew yourself into "leek soup".
A word for everyone: "In the stock market, never underestimate your ignorance, and never overestimate your wisdom." "I hope that every investor can find their own position in this market, which can not only enjoy the fun of investment, but also avoid unnecessary risks.
Write at the end
From the collapse of the "Pengxin system" to the wave of A-share delisting, this stock market earthquake can scare shareholders a lot.
Don't take it lightly! The stock market is like a roller coaster, if it hits rock bottom today, it may soar into the sky tomorrow; Today is bullish, tomorrow may be bearish.
Although the delisting storm has hurt many people, it has also cleaned up the market and cleaned up a number of black sheep. For us ordinary stockholders, instead of sighing and complaining all day long, it is better to take this as a real training course for stock trading.
After all, the stock market is a big dye vat, and only by constantly learning professional financial knowledge and adapting to new rules can we be invincible in this rapidly changing market and not become a leek on someone else's plate.
Do you think the old saying "stock speculation, not company speculation" still works? If you have a stock in your hand that is on the verge of delisting, will you choose to carry it to the end or cut the meat and admit it? With so many companies at risk of delisting, do you still have confidence in the future A-share market? Feel free to leave your thoughts in the comment area.
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