deathloopcrashingps5|超千家公司将被ST？真实数据来了，66股符合ST新规，自救已开始，还剩8个月时间“扭转命运”

ST could have a significant negative impact on stock prices.

April 12thDeathloopcrashingps5The new "National Nine articles" in the capital market and the relevant systems and rules of the Securities Regulatory Commission and the Stock Exchange have been issued, among which dividends are linked to STDeathloopcrashingps5Detailed requirements, which has also become a major focus of the market. According to the rules issued by the Shanghai and Shenzhen stock exchanges, strong restraint measures should be taken against substandard dividends, with emphasis on bringing companies that have not paid dividends for many years or whose proportion of dividends is too low into the "implementation of other risk warnings (ST)".

After the release of the new "National Nine articles", it was once rumored that more than a thousand companies would be ST. In fact, according to the financial data disclosed in the annual reports from 2021 to 2023, only 55 companies on the main boards of Shanghai and Shenzhen stock markets meet the requirements of the new ST regulations, and only 11 companies on mass entrepreneurship and innovation (Science and Technology Innovation Board and gem) meet the requirements of the new ST regulations.

It should be noted that the relevant regulations will come into effect on January 1, 2025, in which the "last three fiscal years" refers to the period from 2022 to 2024, during which listed companies affected by the rules can increase the level of cash dividends or buy back shares and cancel them during the transitional period, so as to avoid ST. In other words, for the 66 companies at risk of being ST, there are still eight months to "turn the tide".

55 main board stocks comply with the new ST regulations

According to the currently issued rules, in terms of the Shanghai and Shenzhen motherboards, companies that meet the basic conditions for dividends, the total cumulative cash dividends in the last three fiscal years are less than 30% of the average annual net profit, and the cumulative dividends are less than 50 million yuan. Companies will implement ST.

Meeting the basic conditions of dividend mainly means that the annual net profit is positive and the undistributed profit is positive, and the undistributed profit under the parent company statement is positive. According to the statistical screening of Databao, after excluding the new shares listed after 2021, more than 2000 stocks on the Shanghai and Shenzhen main board are eligible for dividends. Of the more than 2000 stocks, excluding St shares, 59 stocks have paid a total dividend of less than 50 million yuan or less than 30% of the average annual net profit in the past three years (excluding the annual report with negative net profit).

At the same time, the Shanghai and Shenzhen exchanges have made it clear that the repurchase write-off amount will be included in the cash dividend amount. Among the above 59 stocks, there are also some stocks that repurchase and write off more stocks from 2021 to 2023. Among them, Hite Hi-Tech, Metro Holdings (601155), Jingu shares (002488), Guanghui Logistics and so on implemented the repurchase cancellation during this period, and the amount exceeded 50 million yuan.

To sum up, 55 stocks on the motherboard comply with the new ST rules, and some companies may have begun to "save themselves" in an attempt to avoid the ST that may come next year. For example, Asshai shares and Guoguang Electric Appliances (002045) have implemented large-scale buybacks this year, and if the company cancels the repurchase shares this year, it can also avoid ST.

In addition, Qinchuan machine tools, Jingxing paper and other stocks last year implemented the first dividend in many years and began to buy back, is expected to achieve 50 million yuan dividend (including buyback cancellation) conditions. In addition, Yaxia shares, Twin Towers Food (002481), Dawson shares (603800), Shentong Express (002468), Qinchuan machine tools 2022, 2023 cumulative dividends are more than 30 million yuan, 2024 dividend pressure is not large, to achieve 50 million yuan dividend is relatively easy to achieve.

11 gem stocks comply with the new ST regulations

Let's take a look at the mass entrepreneurship and innovation plate. According to the regulations, Science and Technology Innovation Board, gem, taking into account the characteristics of different sectors and company differences, the absolute value of dividends will be adjusted to 30 million yuan. At the same time, Science and Technology Innovation Board and gem companies with cumulative R & D investment accounting for more than 15% of cumulative operating income in the last three fiscal years or more than 300 million yuan in the last three fiscal years can be exempted from implementing ST.

According to data treasure screening, excluding new shares listed after 2021, mass entrepreneurship and innovation plate has a total of more than 700 stocks eligible for dividends. Among the more than 700 stocks, nearly 20 stocks have paid dividends of less than 30 million yuan or less than 30 percent of the average annual net profit in the past three years (excluding the annual report with negative net profit). Among them, 11 stocks have invested less than 15% of the cumulative operating income or less than 300 million yuan in cumulative R & D investment in the past three years, all of which come from the gem, and the repurchase write-off is zero or lower. Some companies do not have much pressure to avoid ST. For example, Chengyitong has paid more than 20 million yuan in dividends in 2022 and 2023, which can be achieved by sharing another 10 million yuan this year.

St shares have plummeted so far this year

Industry insiders pointed out that the main purpose of the new regulation is to urge listed companies to return investors with stronger constraints. In fact, the overall dividend rate of A-shares has continued to hit a new high in recent years, indicating that listed companies continue to increase their willingness to return investors, which is conducive to the further healthy development of A-share ecology.

ST is not only a blow to the capital reputation of listed companies, but also affects the liquidity and stock prices of listed companies. Since the beginning of this year, the ST plate has fallen sharply, and the stock index has fallen more than 32%, a record low. Excluding delisted stocks, more than 30 St shares have fallen more than 50% this year. * ST Meishang and * ST Sansheng have all fallen by more than 80%.