On October 8, the first trading day after the National Day holiday, A-shares continued their pre-holiday rally, with the Shanghai Composite Index closing at 3489.78 points, up 4.59%; The Shenzhen Component Index closed at 11,500 points, up 9.17%; The GEM index closed at 2550.28 points, up 17.25%. Since September 24, the A-share market has generally risen sharply, and a number of penny stocks hovering above the "red line" of 1 yuan per share for delisting at face value have also taken advantage of the situation to successfully "escape" from the danger.
According to the listing rules of the Shanghai Stock Exchange, if the cumulative stock trading volume of an A-share company through the exchange trading system is less than 5 million shares for 120 consecutive trading days, or the daily stock closing price is less than 1 yuan for 20 consecutive trading days, the listing of the shares will be terminated. Prior to this, if the closing price of A-shares is lower than 1 yuan for the first time, the risk warning announcement that the company's shares may be terminated from listing shall be disclosed on the next trading day.
In this context, when the market is in a downturn, companies whose stock prices hovering above 1 yuan per share are particularly "dangerous".
According to Flush iFinD data, as of the close of trading on September 23, 67 A-share stocks closed below 1.5 yuan per share; After several days of gains, as of the close of trading on October 8, this number has been reduced to 20, according to this calculation, more than 40 stocks have successfully escaped the "red line" area of less than 1.5 yuan per share.
Among these stocks that have risen more include Jin Tongling (300091. SZ), Yatai Group (600881. SH), Meichen Technology (300237. SZ), Nachuan shares (300198. SZ), Xingyuan Environment (300266. SZ), energy-saving iron man (300197. SZ), ST Xiachuang (300300.SZ), Greenland Holdings (600606. SH), China Fortune (600340. SH), Rongsheng Development (002146. SZ) and so on.
It is not difficult to see that the above-mentioned penny stocks with large gains include a number of real estate concept stocks. Catalyzed by this round of policies and other factors, many real estate stocks have recently ushered in a large pullback, such as OCT A (000069.SZ), Greenland Holdings, Gemdale Group (600383. SH), Seazen Holdings (601155. SH) and other real estate companies with a market value of 10 billion yuan have risen by more than 40% since September 24, Vanke A (000002.SZ), Poly Development (600048. SH), China Merchants Shekou (001979. SZ) three real estate companies with a market value of 100 billion yuan rose by 49%, 36% and 23% respectively in the same period.
At the same time, according to the type of actual controller, among the above-mentioned penny stocks with large increases, 6 of the companies behind the stocks are controlled by state-owned shareholders such as local SASAC, local governments or SASAC, accounting for more than half.
With the advancement of the delisting reform in recent years, the regulatory clearance of "problem stocks" has been strengthened, according to Flush iFinD data, the number of delisted stocks so far in 2024 has reached 52, which is significantly greater than the number of delisted companies in 2023 (46). Among the 52 companies to be delisted in 2024, 38 companies will be delisted at face value, and the number of delisted companies will be the largest in July and August, reaching 14 and 17 respectively.
Attached: As of October 8, the stock price is still lower than 1.5 yuan per share