I. Introduction:
Which means "special treatment." The object of the policy is aimed at financial condition or other conditions of abnormal.
April 22, 1998, the Shanghai and Shenzhen Stock Exchange announced that the financial situation would appear abnormal conditions or other stock exchange listed companies special treatment (Special treatment), due to the "special treatment", dubbed "ST" before referred to, Therefore, these stocks is called the ST shares.
If the name which stocks plus st before, is a warning to the market, there is the risk that stock investment, the role of a warning, but the big gains too large equity risk,
If it is a plus * ST delisting the shares have risk, hoping to alert the meaning of concrete is about 4 months, the company's financial statements to the Commission to pay three consecutive years of losses, there is the risk of delisting. detailed
Second, the classification
* ST --- The operating loss for three consecutive years, delisting warning.
ST ---- The operating loss for two consecutive years, special treatment.
S * ST-- company operating losses for three consecutive years, delisting warning + is not yet complete share reform.
SST --- The operating loss for two consecutive years, special treatment is not yet complete share reform +.
S ---- is not yet complete share reform
Three, ST shares of speculation logic
Uncap expected, the plight of reversal, turn around, Paul Shell successful.
Fourth, the time node
Usually around before and after the annual report, or the end of April each year.