China Fund News Reporter Wen Xi
ST Dima, whose stock price has been below 1 yuan/share for 14 consecutive trading days, is fighting to preserve its shell and survive!
After the market opened on the afternoon of June 13, st Dima published an article on its official Weibo titled "The Chongqing Municipal Government held a special coordination meeting to fully support the promotion of the strategic reorganization work of Dongyin Group and Dima Shares." Just 20 minutes later, the company's stock price immediately went out of the "earth and sky". As of the close of trading, its share price was still fixed at 0.86 yuan/share.
It is worth noting that st Dima has frequently "released the news" through the media recently, and at the same time announced the progress of its restructuring through announcements, causing its stock price to fluctuate significantly many times. Therefore, the company recently received a work letter and inquiry letter from the Shanghai Stock Exchange, and was questioned about using relevant information to affect the stock price.
A "floor and sky plate" appeared in less than half an hour
More than a month ago, Dima Co., Ltd. was issued an unqualified "auditing report" with the paragraph "Major uncertainty related to continuing operations" due to three consecutive years of losses and financial reports. And "wearing a hat". ST Dima's stock price subsequently fell all the way. On May 24, its stock price closed below 1 yuan per share for the first time.
The company disclosed for the first time that day a risk warning announcement that it may be terminated from listing. So far, ST Dima has closed below 1 yuan/share for 14 consecutive trading days and is on the verge of delisting.
html At around 1:27 pm on June 13, st Dima suddenly published an article on its official Weibo about the progress of its reorganization. The article mentioned that on the morning of that day, a special meeting on the strategic reorganization of Dongyin Group (the controlling shareholder of St Dima) and Dima was held at the Chongqing Municipal Government.
The article mentioned that the Chongqing Municipal Government, the Municipal Finance Office, the Municipal State-owned Assets Supervision and Administration Commission, the Chongqing Supervision Bureau of the State Administration of Financial Supervision, the Nan'an District Government, Chongqing Development Investment Co., Ltd. (Chongqing Development), China Resources Yukang Asset Management Co., Ltd. (China Resources Chongqing Kang) and other relevant responsible persons attended the meeting.
The article also mentioned that the Chongqing Municipal Government requested to further increase its support for Dongyin Group and Dima Co., Ltd. and make every effort to maintain the stability of listed companies. The article also mentioned that China Resources Yukang is the largest stock pledge creditor of Dongyin Group and expressed its full support for the reorganization of Dongyin Group and Dima shares.
What’s interesting is that less than 20 minutes after the article was published, ST Dima’s stock price launched a “desperate counterattack” and quickly rose above the limit. Its stock price finally reached its daily limit at about 1:57 p.m., and a "floor to ceiling" appeared.
frequently releases important information
In fact, ST Dima, which is on the verge of delisting, has frequently made big moves in order to "continue its life" since May.
As early as May 7, st Dima announced that the company's controlling shareholder Dongyin Group and Chongqing Jiangnan Urban Construction and Development (Group) Co., Ltd. (Jiangnan Group) signed a "Strategic Investment Framework Agreement", and Jiangnan Group plans to serve as a strategic investment Investors participate in the judicial reorganization of Dongyin Holdings.
In addition, on May 13, st Dima also announced that the company and China Resources Yukang signed a "Business Cooperation Framework Agreement", and the two parties plan to carry out business cooperation in aspects such as revitalizing business in distressed projects. Information shows that China Resources Yukang was established in July 2016 with a registered capital of 5 billion yuan. It is mainly engaged in the acquisition and disposal of non-performing assets, entrusted operations, restructuring and integration, and related financial services.
From a shareholder perspective, China Resources Financial Holdings, a subsidiary of China Resources Group, holds 54% of the equity of China Resources Yukang, and the remaining equity is held by the platform under the Chongqing State-owned Assets Supervision and Administration Commission.
The two above-mentioned cooperation news provided a short-term stimulus to st Dima's stock price. On the day after the news came out, ST Dima's stock prices hit the daily limit.
And on June 7, st Dima announced cooperation information for the third time. The company's announcement showed that it had reached a strategic cooperation intention with Chongqing Development, but the specific cooperation matters were unclear and not legally binding. According to disclosures, Chongqing Development is a state-owned enterprise wholly owned by Chongqing State-owned Assets Supervision and Administration Commission and was established in 2018.
On the following trading day (June 11), ST Dima's stock price reached the daily limit again.
"eat" letters many times
was questioned for speculating stock prices
Just after st Dima released cooperation information for the third time, st Dima "eat" a letter of inquiry from the Shanghai Stock Exchange on June 8.The Shanghai Stock Exchange stated in the inquiry letter that before the two parties can carry out substantive cooperation, Chongqing Development needs to complete relevant due diligence, research and review and all internal decision-making processes on specific cooperation matters.
The Shanghai Stock Exchange requires the company to fully warn investors of the relevant risks based on the actual impact and uncertainty of the signing of the strategic cooperation agreement on the company's current operating conditions. In addition, the Shanghai Stock Exchange also required ST Dima to self-examine whether there was any use of non-binding framework agreements to speculate on the company's stock price.
What’s interesting is that during the inquiry period, st Dima also frequently released relevant progress on the company’s restructuring through the media. Some media reported that Chongqing Development has great willingness to participate in the company's reorganization and even serve as an investor in the reorganization, and relevant company personnel said that intermediaries have entered the company to carry out preliminary work related to the reorganization.
Immediately afterwards, st Dima received another work letter from the Shanghai Stock Exchange on June 11. The Shanghai Stock Exchange requires companies to verify whether relevant media reports are untrue or exaggerated, and whether relevant company personnel have made untrue or exaggerated statements or otherwise used media reports to mislead investors and improperly influence market expectations.
However, st Dima responded to the Shanghai Stock Exchange’s previous inquiry letter the next day and stated that after self-examination, the strategic cooperation agreement between Dongyin Group and Jiangnan Group was a cooperation based on Dongyin’s reorganization matters and to promote the reorganization process, and did not exist The use of non-binding framework agreements to speculate on the company's stock price.
In recent years, st Dima has performed poorly. In the first quarter of 2024, it achieved operating income of 5.196 billion yuan, a year-on-year increase of 16.21%, but the net profit attributable to shareholders of the listed company was a loss of 143 million yuan. The current stock price of ST Dima is still less than 1 yuan/share, and there are only 6 trading days left before the deadline of 20 trading days.
Editor: Xiaomo
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