The A-share stock of another listed real estate company triggered the "face value delisting" index.

On the evening of May 15, * ST Shimao (formerly referred to as Shimao (600823), SH600823, share price 0Pennpursuit3.43 yuan, with a market capitalization of 16Pennpursuit3According to the announcement, on the same day, the company received the "advance notice on the proposed termination of the listing of shares of Shanghai Shimao Co., Ltd." and the "advance notice of the proposed termination of the listing of shares of Shanghai Shimao Co., Ltd." issued by the Shanghai Stock Exchange.

The net profit in the first quarter changed from profit to loss

According to the above announcement, as the daily closing price of the company's shares has been less than 1 yuan for 20 consecutive trading days, the Shanghai Stock Exchange will make a decision to terminate the listing of Shimao shares in accordance with rules 9.1.10 and 9.2.7 of the Stock listing rules. Trading in Shimao shares was suspended from the opening yesterday (May 16).

Shimao shares is one of the Fujian housing enterprises that developed rapidly in the early years.

In 2020, Xu Shitan, vice chairman and president of Shimao Group and director of Shimao shares, put forward a sales target of hundreds of billions of dollars for the first time. That is, it is planned that by 2024, the company's sales will reach about 100 billion yuan, with an annual compound growth rate of about 40%, and become a unique and influential commercial real estate operator.

However, as the industry enters a downward period, Shimao's performance has also been greatly affected. According to the annual report, Shimao shares achieved operating income of 5.547 billion yuan in 2023, down 3.48% from the same period last year, of which real estate sales income was 2.248 billion yuan, down 43.07% from the same period last year.Pennpursuit3The operating profit is-6.757 billion yuan, and the net profit is-4.819 billion yuan.

In the first four months of this year, Shimao shares achieved a sales contract area of about 335000 square meters, an increase of 94 per cent over the same period last year, and sales contracts totaled about 3.45 billion yuan, an increase of 1 per cent over the same period last year. The company has no new real estate reserve project.

In the first quarter of this year, Shimao shares achieved operating income of 1.033 billion yuan, down 7.10% from the same period last year; the net profit returned to its mother was-64 million yuan, from profit to loss compared with the same period last year; and the net cash flow from operating activities was 324 million yuan, down 64.19% from the same period last year. The asset-liability ratio was 83.96%, up 15.19% from the same period last year.

Promote debt resolution in many ways

In terms of funds, a reporter from the Daily Economic NewsPennpursuit3It has been learned that as of April 30 this year, Shimao shares and subsidiaries' open market debts, and debts of non-open market banks and non-bank financial institutions totaled 12.055 billion yuan and failed to be paid on schedule.

On May 8, Shimao announced that the company's second interim note of 2021 should pay 608 million yuan in principal and interest on May 6, 2024, which failed to be paid on schedule. As of the date of announcement, Shimao shares and subsidiaries' open market debt accumulated 4.385 billion yuan of principal and interest failed to be paid on schedule.

For Shimao shares to trigger the "face value delisting" index, mirror consulting founder Zhang Hongwei believes that the most urgent task for out-of-danger housing companies is to resolve debts and Baojiaolou, and it is possible to regain momentum only after solving the urgent needs.

In the performance report, Shimao also said that in the face of major changes in supply and demand in the real estate market, shrinking sales and tight liquidity, the company persisted in reducing operating costs, reducing sales expenses, and slowing down investment in development and construction. strive for policy support and live money inflows. In the process of specific business development, guarantee delivery is regarded as the primary task, and debt resolution is promoted through rollover repayment, asset repayment and asset disposal to ensure that the company has long-term sustainable operation ability.