My fintech empire.

Chapter 1445 [New delisting rules implemented]

Investors in the A-share market are no longer surprised by this. Stockholders have long felt that it is normal for the SGX market to be stronger than the two neighboring markets, and it would be unfair if it were not stronger than the two neighboring markets.

After the market closed today, the popularity index of Xingyu Technology's stock remained high. Although the stock did not hit the daily limit today, it closed up 8.79%, closing at 48.50 yuan. The market value soared to 13.35 trillion, setting a historical high.

The trading volume of this stock today also reached a huge amount of 1722 billion, directly exceeding the trading volume of the entire Shanghai Stock Exchange. The trading volume of the neighboring Shanghai Stock Exchange today was 1625 billion, which shocked countless investors.

The market is closed at this moment, but the comment section of Xingyu Technology’s stock forum is still very lively, with the screen full of various worships.

[Wow, another record high...]
[Holding this stock really means living in fear of rising prices. The market value is 13.35 trillion, which is equivalent to about 11% of last year's GDP.]
[Converted to US dollars, it is about 1.92 trillion. It seems that Xingyu Technology is still the first stock in history to have a market value of over 2 trillion US dollars. If it were not for the depreciation of the exchange rate, it would have exceeded trillion US dollars long ago.]
[The depreciation of the RMB exchange rate is really incomprehensible. Foreign capital is pouring in, but the foreign exchange market is not strengthening.]
[This company is really terrifying, with a market value of 13.35 trillion, and I just took a look at the price-earnings ratio, which is only 37 times. I remember that it soared to 80 times last year, and the market value was not even 10 trillion at that time. Now the market value has reached a new high, but the price-earnings ratio has been reduced by more than half...]
[I can only say that Xingyu Technology is so terrifying!]
[It is normal for the P/E ratio to decline. Last year, not only did Xingyu Technology's MIX explode, but the STAR5 smartphone also made a comeback, with two big and small trump cards, and the performance doubled.]
[According to the annual report data in April, Xingyu Technology's net profit reached a staggering 4 billion yuan. This is net profit, and the revenue reached a terrifying 3600 trillion yuan.]
[The STAR6 phone and MIX2 headset released last month also sold well.]
[I am really looking forward to Xingyu Technology's new energy vehicle. It is likely to be another big hit. After so many years of holding back, it must be a big hit!]
[新手小白问个事，有谁知道2013年2月到3月份发生了什么？星宇科技的股价怎么会在那个时候18连板跌停爆杀？还是连续17个一字跌停。]
[You don’t even know this? You seem like a newbie.]
[To put it simply, it was a targeted explosion and harvest of Wall Street capital by God K. Not only Xingyu Technology, but all the stocks of the Galaxy concept that were listed at that time were hit by 18 consecutive limit downs. If you want to know more, just search online...]
[When I talk about this, my dead memories come back to life. At that time, the price plummeted to 1.14 yuan. I risked my life to buy in that day when the price hit the daily limit. Then it went up nine times in a row, but I only got 36 points before I left. I sold out at a loss at that time. Now seeing it at 48.50 yuan, I am even more disappointed. It would have been great if I had held on to it until now…]
[There are only two possibilities for the current price of 1.14 yuan. One is that someone went in and stepped on the sewing machine, and the other is that the stock account password was forgotten.]
[Those who sold at 1.14 yuan were the ones who really broke their thighs.]
……

In the comment section of the stock forum, investors who participated in the discussion gradually started to recall the past due to a hot post, and the screen was filled with comments expressing their deep feelings.

Xingyu Technology entered the A-share market in December 2012, and it has been six and a half years since its listing, almost seven years ago. The issue price was 12 yuan per share, and it was listed on the A-share market with a huge valuation of 2.54 billion yuan at that time. As of today's latest closing price, the cumulative increase has reached +7000%, which is 1809 times the market value of 7000 billion yuan in just six and a half years.

If it were the year when Xingyu Technology went public, no one except Fang Hong would have dared to think that the company would be able to reach a height of over 13 trillion more than six years later. Not even Qin Feng dared to think about it.

During the period of February 2013, Xingyu Technology's stock price fell by the limit for 2 consecutive times. Including the subsequent limit-up, it should have fallen by the limit for 18 consecutive times. The stock price plummeted all the way to 19 yuan, and the market value plummeted to 1.14 billion yuan.

Today, the market value of Xingyu Technology has soared to 13.35 trillion yuan. The lowest point of its market value more than six years ago was not even a fraction of the current market value.

Many old stock investors who have lived through that time were filled with emotion when they saw the stock's historical low of 1.14 yuan and then the current closing price of 48.50 yuan. They felt it was incredible and like a dream.

If calculated based on the historical lowest price, if someone bought the stock at 1.14 yuan and held it until now, he would have received a +4154% return on investment.

What is even more amazing is that the return on investment of the listed subsidiaries of the Qunxing System is without exception quite astonishing, with ten-fold stocks everywhere, and star-level corporate giants in the Qunxing System, such as Xingyu Technology, Matrix Quantum, Jiuzhou Blue Arrow, and Yixin Video, have a return on investment of dozens or even hundreds of times.

It can be said that in the past ten years, anyone who bet on Qunxing Group in the primary market has made a fortune without exception. In the past five years, anyone who invested in Qunxing Group's listed companies in the secondary market has also made a lot of money.

……

New city, quiet villa.

Fang Hong is reading several material documents and reports at the moment. One of them is about the new delisting rules. It has now been finalized and the new rules will be officially implemented on Monday, July 7.

All 1676 listed companies that have listed on the SGX-ST have been required to sign a supplementary agreement, as it will be difficult to enforce the new rules under existing laws. However, there is a way and there is no need to make drastic changes to the laws.

Just follow the contract law, there is a law to follow, and the same goes for the supplement to the agreement.

After the new regulations are implemented, all companies registered and listed on the SGX market must sign this agreement. Companies already listed on the SGX market will also need to sign a supplementary agreement. Listed companies can also refuse to sign the agreement, but companies that do not sign will be forced to delist on the grounds of non-compliance with the new regulations.

Gave choices, but not much.

Either sign or withdraw, there is no third option.

"Of the 1676 listed companies, 1661 are willing to sign, but these 15 refuse to sign?" Fang Hong said as he looked at Tian Jiayi. Seeing the latter nodded, Fang Hong looked at the materials again and said to himself, "Nine of them are in the ST status, including three with *ST, and the other six have not been ST..."

The SGX market has been open for more than three years. Among the 1676 listed companies, a total of 13 stocks have been ST, and 5 of them have been "delisted" one after another, including WeChat, which was "sacrificed" at the beginning and has been delisted for a long time.

However, no company has been delisted from the SGX market so far.

There are currently 9 listed companies in ST status, and they are also the 9 companies that refused to sign the supplementary agreements. These listed companies are not the ones from 2016. The batch of companies listed in 2016 were all carefully reviewed by Fang Hong, and there are no problems at present.

After a while, Fang Hong nodded: "The proportion of problematic companies is less than 1%, and the control of the defect rate is still very good."

It is obviously unrealistic to assume that all registered and listed companies are problem-free. Fang Hong also allows the audit team to make mistakes. As long as there are no violations or insider operations, it is normal to have some bad rates.

Finally, Fang Hong made a prompt decision: "Since these 15 companies refused to sign the supplementary agreement, there is nothing to say. Let these 15 companies become the first batch of companies to be forced to delist since the opening of the SGX. They will be delisted as soon as the new regulations are implemented."

……