What are the requirements for CSI A shares to be considered ST shares? Ask the master for a detailed

Hello, ST is an abbreviation for "Special Treatment". On April 22, 1998, the Shanghai and Shenzhen Stock Exchanges announced that they would carry out special treatment ("ST") for the transactions of listed companies with abnormal financial status and other financial conditions.

Among them, the abnormality mainly refers to two situations: one is that the net profit of the listed company in the audited two fiscal years is negative, and the other is that the audited net assets per share of the listed company in the most recent fiscal year are lower than the par value.

During the period when the ** transactions of listed companies are subject to special treatment, the following rules shall be followed: (1) the daily rise and fall of the ** transaction shall be limited to 5%; (2) **Name is changed to "st" before the original **name; (3) The interim report of the listed company must be audited.

This is provided by Kangbo Finance, which focuses on the interpretation of financial hot events, the popularization of financial knowledge, adheres to professionalism, pursues fun, makes financial content that people can understand, and conveys financial value in a vivid and diverse way. Hope this helps.

You must read patiently, you need to pay attention to the third point, negligent operation will lead to serious mistakes.

Before explaining**st, I will share with you the **list of today's institutions, and before it is deleted, click the link to quickly receive it: Quick Claim! Today's list of institutions is newly released!

1) What does **st mean? Under what circumstances does it occur?

ST is actually special treatment, which refers to the special treatment of listed companies with abnormal financial or other conditions on the Shanghai and Shenzhen stock exchanges, adding a "ST" letter before the name, commonly known as wearing a hat, so as to inform each investor to be careful about investing in this kind of **.

If the company continues to lose money for three years, it will be replaced with "*st", which means that ** is very likely to be delisted, so you must be careful of this**.

And not only to add "st" in front of the first name, such a listed company must also be inspected for one year, in the inspection period of listed companies, the daily rise and fall of the stock price can not exceed 5%.

In 2019, a well-known case was Kangmei Pharmaceutical's 30 billion financial fraud, which changed from the former A-share big white horse to ST Kangmei after the case, and then harvested 15 consecutive falling limits, evaporating more than 37.4 billion market value in 43 days.

2) ** How do I take off my hat?

If the audit results show that the financial abnormality has been eliminated, that is, the annual status of the listed company has returned to normal during the inspection period, and the company's net profit is still positive, and the company's operation continues to be normal after deducting recurring profit and loss, then you can apply to the exchange for cancellation of special treatment.

Commonly known as "taking off the hat", it is the ST mark in front of the ** name that we revoke after approval.

Normally, the **** that is ushered in is after taking off the hat, we can pay more attention to this kind of **, and make a little money by the way, how should we get these hat removal information for the first time? This investment calendar can help you, which ** dividends, shares, delisting and other information, will not fall a day of reminders, hurry up to poke the following link: exclusive Shanghai and Shenzhen stock market investment calendar, grasp the latest first-hand information.

3) What should I do for ST's **?

In case the **unlucky in the hand becomes st**, you need to pay close attention to the 5th**, and then you have to set the *** below the 5th**, and when the stock price falls below the 5th**, it is recommended that you clear the position to prevent it from being jailed because of the continuous fall limit.

In addition, it is not recommended for investors to open a position with ST marking, because the maximum rise and fall of this type of ** on each trading day is only 5%, and its operational difficulty is relatively high, and it is very difficult to grasp the investment rhythm.

If you really don't know how to operate, I'll share you with a **artifact, enter ****, you can know whether this **ticket is good or not: [Free] Test your **current valuation position?

It takes two consecutive years of losses to become ST**, and if the losses for three consecutive years become *ST, continuous losses will face delisting, **must stay away from ST**.

1) The company's production and business activities have been seriously affected and are not expected to return to normal within three months; (2) The company's main bank is frozen; (3) The board of directors and the general meeting of shareholders of the company are unable to convene meetings normally and form resolutions; (4) The company has been issued an internal control audit report or assurance report that cannot express an opinion or negative opinion in the most recent year;

First, the audit results of the last two fiscal years show that the net profit is negative, the second is that the audit results of the most recent fiscal year show that the shareholders' equity is lower than the registered capital, and the third is that the financial situation is abnormal as determined by the exchange or the China Securities Regulatory Commission.

The audit results of the last two fiscal years show a negative net profit, that is, if a listed company has lost money for two consecutive years or the net assets per share are below the **par value.

1. Net profit shown by the audit results of the last two fiscal years.

is negative, that is, if a listed company loses money or net assets per share for two consecutive years.

If it is lower than the face value, it will be treated specially.

2. The audit results of the most recent fiscal year show that its shareholders' equity is lower than the registered capital.

That is to say, if a listed company loses money for two consecutive years or the net assets per share are lower than the par value, it will be given special treatment.

3. Certified Public Accountant.

An audit report with no opinion or adverse opinion on the property report for the most recent fiscal year.

4. The audited shareholders' equity in the most recent fiscal year is lower than the registered capital after deducting the part not confirmed by the certified public accountant and the relevant departments.

5. The most recent audited financial report adjusts the profit of the previous year, resulting in a loss for two consecutive fiscal years.

6. It is determined by the exchange or the China Securities Regulatory Commission to be in an abnormal financial situation.

st**。On April 22, 1998, the Shanghai and Shenzhen Stock Exchanges announced that they would carry out special treatment ("ST") for the transactions of listed companies with abnormal financial status and other financial conditions.

High risk is often inseparable from high returns, and novices who have just started ** are a little excited in the face of the news that ST** can earn high returns, but if you don't know ST** enough, it is recommended not to try it easily! So next, I will popularize this kind of st** with you, I hope it can help you in some aspects! However, before starting popular science, I would like to share with you a few **artifacts:

**The nine artifacts are free to receive (with a sharing code).

2. Why are some people keen to fry ST**?

The investment value of ST** is generally in these two aspects:

1. Hat-off: Hat-off can be understood as the company's situation has been alleviated, and the stock price may be ** in the future. Therefore, when a listed company is ST, some investors' **company performance will definitely get better in the end, so they will buy ** in advance and then wait for the stock price**.

2. Low stock price: After a long period of decline, the ST price has been in a low position, and it will be, and some investors take the first operation to seize the opportunity in the process and earn the difference.

Novices do not have a lot of information access channels for the final rectification of ST or whether the performance is improving, so investing in ST shares means that there may be greater risks.

**Name in front of the addition of ST is to give shareholders a warning, the**There is an investment risk, a warning effect, but this **risk is also big, if you add *ST then it is the ** delisting risk, hope to be vigilant meaning, specifically in April or so, the company submitted financial statements to the Securities Regulatory Commission, 3 consecutive years of losses, there is a risk of delisting, generally in May was not delisted** can participate in it, the income and risk are proportional to the ST shares.

On April 22, 1998, the Shanghai and Shenzhen Stock Exchanges announced that, in accordance with the ** Listing Rules implemented in 1998, special treatment would be given to the ** transactions of listed companies with abnormal financial or other conditions. The abnormality of the above-mentioned financial situation or other conditions mainly refers to two situations, one is that the audited net profit of the listed company for two consecutive fiscal years is negative, and the other is that the audited net assets per share of the listed company in the most recent fiscal year are lower than the par value. During the period when the ** transactions of listed companies are subject to special treatment, the following rules shall be followed by the ** transactions:

1) The daily rise and fall limit is 5; (2) **Name is changed to add "ST" before the original **name, such as "ST Liao Materials"; (3) The interim report of the listed company must be audited. Due to the daily rise and fall limit of ST** to 5, it also inhibits the deliberate speculation of the bookmaker to a certain extent. Investors should also treat the special treatment differently Specific problems are analyzed, some ST shares are mainly operating losses, so it is difficult to turn losses into profits by strengthening management in the short term.

Some ST shares are due to losses due to special reasons, or some ST shares are undergoing asset restructuring, and these ** often have great potential.

High risk is often closely related to high returns, which also makes many novices a little ready to move after hearing about ST** making money, here I suggest that you do not touch it easily before you have a thorough understanding of ST**! Next, let's follow me to understand what ST** is, and I hope it can help you in some aspects! But before getting into today's main topic --st**, I would like to share a few **artifacts with you:

**The nine artifacts are free to receive (with a sharing code).

1. What is ST and *ST**?

ST is special treatment, which means special treatment - special management of the ** transaction of listed companies with abnormal financial or other conditions, and the title before the abbreviation does not mean that the listed company has been punished, but in order to warn consumers of the risks of investment and guide the public to invest rationally. If the company's increase is limited to 5% per day during this period, it will be able to resume normal trading when the company returns to stability. You'll often see *st, and you'll see st.

ST can predict the delisting of the company for three consecutive years of loss, usually in the next month (different ** will also be different).

2. Why are some people keen to fry ST**?

The investment value of ST** can be reflected from the following two aspects:

1. Take off the hat: Taking off the hat is equivalent to saying that the company's situation is restored, and it is possible to do so. Therefore, when a listed company is ST, some investors feel that the company's performance will develop in a good direction, so they wait for the stock price to recover.

2. Low stock price: After a long-term decline, the ST price has been in a low position, there is a reason to buy, the first operation is the practice of some investors, they can seize the opportunity in time, so as to earn the difference. Novices have just entered the industry, and there are not enough channels to obtain information about the final rectification status of ST** or whether the performance has improved, so investing in ST shares means that there may be greater risks

**Barometer] first-hand information broadcast of financial markets.

** ST condition: the last two consecutive years of losses; Due to major accounting errors or false records in the financial accounting report, the company took the initiative to correct it or was ordered by the China Securities Regulatory Commission to make corrections, and retrospectively adjusted the financial and accounting reports of previous years, resulting in continuous losses in the past two years. The company's net profit is still positive after deducting non-recurring gains and losses, and the company can apply to the exchange to revoke the special treatment.

There is no longer an ST mark before the revocation of the special treatment, commonly known as "taking off the hat".

**ST needs to meet the delisting criteria and have a delisting processing period, and must strive to return to normal listing status.

ST** refers to a company that has been suspended from listing by the Shanghai Stock Exchange or Shenzhen Stock Exchange, or has been subject to the mandatory delisting risk warning of Kena, and has added the word "ST" to the company ** during a period of disturbance before continuing to be listed and trading, the core reason of which is that it does not meet the listing standards stipulated by the CSRC due to serious problems in its operating performance and other aspects. **ST needs to meet the requirements of the exclusion criteria and leave a delisting processing period. During the delisting processing period, the company must actively take measures to save itself and reorganize, and strive to return to normal listing.

When ST** fails to return to its normal listing status during the processing period, it will be delisted. This means that ** will cease trading on the implementation date of delisting, and will be delisted within one month after the issuance of the delisting decision, and withdraw from the A** market.