The current stock price is 0.37 yuan, it's too sudden! Another real estate giant or delisting transaction | company stocks | real estate
Following the delisting of Taihe stock on June 8th
Yesterday, another real estate giant, Sunshine City Group
There is a risk of delisting in stock trading
Trading will be suspended from the opening of next Monday, June 12th
![The current stock price is 0.37 yuan, it's too sudden! Another real estate giant or delisting transaction | company stocks | real estate](https://a5qu.com/upload/images/0f51701ad16ce0a845d36f5559d63b02.jpg)
ST Sunshine City announced that as of June 9th, the closing price of the company's stock has been below 1 yuan per share for 20 consecutive trading days, which has reached the mandatory delisting requirement for trading. According to relevant regulations, the company's stock will be suspended from trading starting from June 12th, and the company's stock may be delisted from trading on the Shenzhen Stock Exchange.
The latest data shows that there were still 130000 shareholders in Sunshine City in the first quarter.
Previously announced by Sunshine City
1. In 2022, the company was issued an internal control audit report with a negative opinion by Lixin Zhonglian Certified Public Accountants due to its failure to fulfill the review procedures and information disclosure obligations in accordance with regulations regarding external guarantees. According to Article 9.8.1 of Section 8 of Chapter 9 of the Listing Rules of the Shenzhen Stock Exchange, if the company encounters situations where "other risk warnings" are implemented, the company's stock will be subject to other risk warnings from the opening of the market on May 5, 2023. As of the disclosure date of this announcement, other risk warning situations have not been eliminated.
![The current stock price is 0.37 yuan, it's too sudden! Another real estate giant or delisting transaction | company stocks | real estate](https://a5qu.com/upload/images/b9260094d943484b7090e8551ca6d0c8.jpg)
2. As the auditor of the company's financial report for the year 2022, Lixin Zhonglian Certified Public Accountants Co., Ltd. has incurred a net profit loss of RMB 12.553 billion attributable to shareholders of the listed company due to the company's outstanding debt principal of RMB 62.632 billion as of December 31, 2022, as well as factors such as a decrease in gross profit margin, inventory depreciation, and interest expense. This has raised significant doubts about the company's ability to continue operating; At the same time, the company did not follow the prescribed review and disclosure procedures to provide a total of RMB 545 million in guarantees to external units, indicating significant deficiencies in the company's internal control over external guarantees. The company issued a non-standard opinion on the financial statement audit report for the year 2022.
In 2018, Sunshine City entered the billion dollar camp. At the company's annual celebration, Mr. Lin from Sunshine City generously gave his employees 7 Mercedes Benz S-Class sedans, each costing over 1.2 million yuan.
In 2021, Sunshine City entered the Fortune Global 500 for the first time, with annual sales exceeding 200 billion yuan and a market value exceeding 100 billion yuan.
In September 2021, for the third quarter of the year, Sunshine City's net profit after deducting taxes was -1752 million yuan, a year-on-year decrease of 274%. Due to the provision of depreciation for some projects, the asset impairment loss in the first three quarters was as high as 1.65 billion yuan, a significant increase of 518% year-on-year. Therefore, it angered the second largest shareholder, Taikang Group, and was voted against by two directors of Taikang Group, causing Sunshine City to face a "dual kill" of stock and debt.
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