richpalmcasinonodepositbonus| The fire burns my eyebrows! *ST Xianfeng plans to repurchase shares from 50 million yuan to 100 million yuan after falling limits for seven consecutive trading days

ST Xianfeng (002141), whose share price has fallen by the daily limit recently, finally can't sit still.RichpalmcasinonodepositbonusOn the evening of May 12, the company announced that it intends to buy back the company's shares with a total amount of not less than 50 million yuan (inclusive) and not more than 100 million yuan (inclusive), and the repurchase price shall not exceed 2.Richpalmcasinonodepositbonus.20 yuan per share (inclusive), * ST Xianfeng's latest closing price is 0Richpalmcasinonodepositbonus.78 yuan per share, the total market capitalization of the company is only 885 million yuan.

Compared with the conventional repurchase plan, * ST Xianfeng's buyback period is no more than 3 months from the date when the board of directors deliberated and approved the repurchase plan, which is quite urgent and burning. * ST Xianfeng said that based on confidence in the company's future sustainable development and recognition of the company's value, combined with the company's operating situation, financial position, valuation level and confidence in future development, in order to safeguard the company's value and shareholders' rights and interests, the company intends to repurchase the company's shares, and the shares will be cancelled after the repurchase.

Data show that by the end of 2023, * ST Xianfeng has an investment of about 470 million yuan and a monetary fund of about 146 million yuan. The company's own capital exceeds 600 million yuan, and there are no long-term and short-term loans. The funds to be used for repurchase are all from the company's own funds (excluding funds raised and borrowed). In addition, according to the upper and lower limits of the total repurchase funds and the upper limit of the repurchase price, the total number of repurchases is about 22.72 million-45.45 million shares, accounting for about 2.00% of the company's current total shares. 4.01%.

At the same time, after the inquiry of * ST Xianfeng, the company's directors, supervisors, senior managers, controlling shareholders and actual controllers have no plans to increase or reduce their holdings of the company during the buyback period.

The reporter noted that prior to this, Xianfeng Holdings issued an internal control audit report with negative opinions due to the negative net profit belonging to shareholders of listed companies in 2023 and operating income less than 100 million yuan after deduction. according to the current relevant regulations, the Shenzhen Stock Exchange implements "delisting risk warning" and "other risk warning" on the company's stock trading.

Since April 29th, the short name of the company's securities has been changed from "Xianfeng Holdings" to "* ST Xianfeng". It is from this time that the share price of * ST Xianfeng has ushered in seven consecutive falls.

* since the listing of ST Xianfeng, the main business is mainly micro-enamelled wire business. In 2021, the company acquired new veterinary vaccine business, and the company strategically withdrew from micro-enamelled wire business at the end of the third quarter of 2022. At present, the company's main business is veterinary vaccine business, which is mainly operated by Shiji Bio, a holding subsidiary, and its main products are pig vaccines.

* ST Xianfeng reported in its 2023 annual report that the development of the company's veterinary vaccine business is closely related to the development trend of the downstream pig farming industry. In 2023, the pig farming industry is in a situation of oversupply, pig prices have been weak for a long time, and even began to be completely lower than the breeding cost, resulting in persistent losses of pig enterprises and accelerated departure of small and medium-sized pig farmers. In addition, public data show that the capital chain and cash flow pressure of the three listed companies with an asset-liability ratio of more than 80% are generally tight, and some of them have entered the restructuring process. As an upstream supplier of aquaculture, the animal protection industry is facing fierce competition in which both quantity and price fall.

With regard to the business plan for 2024, * ST Xianfeng previously said that in order to cope with the pressure of market price competition, Shiji Biology will further reduce costs and efficiency in production, focus on key projects in research and development and reduce invalid expenses, and make sales rolling plans in sales to avoid ineffective production. At the same time, Shiji Biology will further strengthen the development of group customers and small and medium-sized customers according to its own technical services and key product quality, and continue to promote brand marketing and sales promotion. However, the company also alerted customers to the risk of payback and the risk of further impairment of goodwill in Historical Biology.

* the recent continuous daily limit of ST Xianfeng stock price is also related to the recent introduction of the new "National Nine articles" policy. Specifically, the new "National Nine articles" strengthens the delisting system, clearly refines the criteria for differentiated delisting, and adopts a zero tolerance attitude towards listed companies with persistent losses, chaotic governance structure and major illegal activities.

It is observed that with the end of the annual report season, a number of companies have entered the risk warning section. According to incomplete statistics, on April 30 alone, at least 40 listed companies announced the suspension of trading.RichpalmcasinonodepositbonusIn addition, since May, the risk warning sector stocks continue to "delisting tide" and "falling limit tide" staged in turn.

Prior to this, * ST Xianfeng announced a variety of situations in which the listing may be terminated and warned of the relevant risks.

However, the company also said that the board of directors will actively urge the management to take corresponding and effective measures, actively promote the implementation of rectification and reform measures, and eliminate the impact of related matters as soon as possible, and the board of directors will continue to pay attention to the progress of related matters. At the same time, the board of directors will actively improve the company's operating conditions, enhance the company's sustainable operating capacity, and strive to remove delisting risk warnings and other risk warnings.

The measures to be taken by the company's board of directors include organizing the improvement of internal control, rectifying and optimizing the existing internal control defects, solving the existing problems in a timely manner, and further strengthening the scientific management of subsidiaries, improve the efficiency of operation and management, pay attention to the improvement of profitability, pay attention to the prevention of operational risks, and so on.

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