Recently, the company listed on the GEM has been in constant trouble. Last weekend, the company was over-reported by the Shenzhen Stock Exchange because of the disparity between its pre-disclosure performance and its actual performance in 2013. Immediately afterwards, the company issued a risk warning, which was suspended for two consecutive years.
The news caused a high degree of concern from the outside world. Yesterday, the company's stock was temporarily suspended. The outside world speculated or due to the risk of delisting, Tianlong Optoelectronics intends to implement the restructuring. “The company suspends trading due to the brewing of major events. The specific matters are subject to the follow-up announcement.†Yesterday, the company’s securities office responded.
The company issued a warning to the first delisting stock on the 4th of September. According to the information released by the Shenzhen Stock Exchange, the GEM company Tianlong Optoelectronics has a difference of more than 100 million yuan due to the difference between the 2013 annual performance forecast and the actual disclosure. The chairman of the company, Feng Jinsheng, and the then general manager Chen Bihong were notified and criticized.
On November 5 last year, the company released a performance forecast that the net profit in 2013 was between 5 million and 10 million. At the end of February this year, the company’s re-disclosed performance report showed that the net profit in 2006 was 6.08 million yuan; but by April 22, Three days before the announcement of the 2013 annual report, the company issued a performance revision report, claiming a net profit loss of 130 million yuan in 2013.
In addition to the concerns raised by the notified criticism, the company issued continuous delisting risk warnings at the end of August.
Due to the continued sluggishness of the polysilicon and photovoltaic industries in recent years, Tianlong Optoelectronics' performance has declined rapidly in recent years. The financial report shows that in 2012 and 2013, the company's net profit was a huge loss of 510 million and 130 million yuan respectively. In the first half of this year, the company continued to lose 53.88 million yuan, and predicted a loss of 37 million to 42 million in the third quarter.
Because the GEM has no ST regulations, companies that have lost money for three consecutive years will be suspended from listing. After the third-quarter performance forecast was announced, Tianlong Optoelectronics issued three delisting risk warnings on August 22, August 29, and September 5.
According to the company, the board of directors is currently strengthening the sales of its main business and further disposing of idle assets, and seeking relevant support to strive for annual losses. However, if the loss is not realized within the year, the company will become the first stock of the GEM to be suspended.
Emergency suspension or asset restructuring On the afternoon of September 9, Tianlong Optoelectronics suddenly announced a temporary suspension. Earlier, the GEM companies Baode shares and Wanfushengke were also at risk of being suspended due to losses for two consecutive years. Both companies have now announced suspension of restructuring.
The news caused a high degree of concern from the outside world. Yesterday, the company's stock was temporarily suspended. The outside world speculated or due to the risk of delisting, Tianlong Optoelectronics intends to implement the restructuring. “The company suspends trading due to the brewing of major events. The specific matters are subject to the follow-up announcement.†Yesterday, the company’s securities office responded.
The company issued a warning to the first delisting stock on the 4th of September. According to the information released by the Shenzhen Stock Exchange, the GEM company Tianlong Optoelectronics has a difference of more than 100 million yuan due to the difference between the 2013 annual performance forecast and the actual disclosure. The chairman of the company, Feng Jinsheng, and the then general manager Chen Bihong were notified and criticized.
On November 5 last year, the company released a performance forecast that the net profit in 2013 was between 5 million and 10 million. At the end of February this year, the company’s re-disclosed performance report showed that the net profit in 2006 was 6.08 million yuan; but by April 22, Three days before the announcement of the 2013 annual report, the company issued a performance revision report, claiming a net profit loss of 130 million yuan in 2013.
In addition to the concerns raised by the notified criticism, the company issued continuous delisting risk warnings at the end of August.
Due to the continued sluggishness of the polysilicon and photovoltaic industries in recent years, Tianlong Optoelectronics' performance has declined rapidly in recent years. The financial report shows that in 2012 and 2013, the company's net profit was a huge loss of 510 million and 130 million yuan respectively. In the first half of this year, the company continued to lose 53.88 million yuan, and predicted a loss of 37 million to 42 million in the third quarter.
Because the GEM has no ST regulations, companies that have lost money for three consecutive years will be suspended from listing. After the third-quarter performance forecast was announced, Tianlong Optoelectronics issued three delisting risk warnings on August 22, August 29, and September 5.
According to the company, the board of directors is currently strengthening the sales of its main business and further disposing of idle assets, and seeking relevant support to strive for annual losses. However, if the loss is not realized within the year, the company will become the first stock of the GEM to be suspended.
Emergency suspension or asset restructuring On the afternoon of September 9, Tianlong Optoelectronics suddenly announced a temporary suspension. Earlier, the GEM companies Baode shares and Wanfushengke were also at risk of being suspended due to losses for two consecutive years. Both companies have now announced suspension of restructuring.
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