In recent times, Chinese listed companies have been sequentially announcing their projected performances for the year 2024. Among the 118 ST companies that have already disclosed their performance projections, over 70% are expected to incur losses, with some companies issuing delisting warnings.
On the evening of January 26th, ST Huawang and *ST Hengli released their 2024 performance forecasts, both indicating continued losses. ST Huawang is projecting a net loss ranging from 578 million to 859 million yuan, while *ST Hengli expects a loss between 33 million to 43 million yuan.
According to a report by “First Finance and Economics” on January 26th, data service provider Wind data shows that as of January 25th, 118 ST companies have issued their 2024 performance forecasts, with over 70% of them experiencing a decline in performance. Only 29 companies are expecting some improvement in their performance. Among the companies with declining performance, 89 have reported a decrease: 11 companies are experiencing losses for the first time, 74 have been consistently incurring losses, 3 are projecting a decline in operating income, and 1 is expecting a slight decrease in revenue. These companies account for approximately 75% of the ST companies that have disclosed their performance forecasts.
While disclosing their performance forecasts, some companies have also released delisting notices. Just on the night of the 24th, companies like *ST Longyu, *ST Furun, and *ST Nongshang issued similar announcements. Additionally, *ST Kaiyuan and *ST Tongzhou have indicated that their stocks may be delisted.
Among them, *ST Longyu is expecting a net loss ranging from 315 million to 390 million yuan in 2024, following a year when the company had an unusual financial report and a net loss. *ST Longyu stated that if the 2024 annual report continues to receive a non-standard opinion, the company’s stock may face delisting.
*ST Furun disclosed that the company anticipates a total profit of negative 388 million to negative 318 million yuan in 2024, with a net loss of 315 million to 385 million yuan. After auditing, the revenue may be below 300 million yuan. Should the 2024 annual report receive a non-standard audit opinion, or if the internal control report is unable to express an opinion or provides a negative opinion, the company’s stock may be delisted after the annual report disclosure.
Furthermore, ST companies that have recently disclosed the possibility of their stocks being delisted also include *ST Hetai, *ST Tongzhou, *ST Haiyue, and *ST Tianchuang.
In the Chinese stock market, if a stock name is prefixed with “ST,” it means it is a “Special Treatment” stock, indicating abnormal financial or other conditions, serving as a warning to the market about investment risks.
If a stock name has *ST added to it, it means the stock is at risk of delisting, typically due to the company incurring losses consecutively for three years, indicating the risk of delisting.