History in the making! The first A-share company to be delisted due to low market value today
1min read On September 1, *ST Kaifa announced that its shares had been decided to terminate listing by the Shenzhen Stock Exchange and would be delisted on September 2, 2024.It is noteworthy that *ST Kaifa's delisting is not ordinary, but the first case of market value delisting for A-share listed companies, creating a new history in the A-share market.The announcement showed that *ST Kaifa's stock price closed below RMB30 million for twenty consecutive trading days from June 27 to July 24, triggering the relevant stock termination listing scenario and not entering the delisting period.According to the Shenzhen Stock Exchange's previous release of "Shenzhen Stock Exchange Stock Listing Rules (2024 Revision)", if an A-share company "has a closing market value of less than RMB500 million in twenty consecutive trading days", it will be terminated from listing, and the revision of the market value delisting scenario will start to calculate the relevant period on October 30, 2024.According to public information, *ST Kaifa is a well-known real estate and precast concrete production company in Shenzhen, with its main business being the production and sales of concrete and the development and sales of real estate, and its main products are precast concrete, which is the first listed company in China to focus on the production and sales of precast concrete.On August 30, the Company disclosed its 2024 mid-year report, achieving an operating revenue of RMB40.8354 million, down 54.35% YoY. Its net profit attributable to parent was a loss of RMB70.3284 million, down 40.39% YoY. The basic EPS was -0.51 yuan.