A Case Study Of Delisting Of *ST Nanjing Tanker Corporation

With the development of Chinese capital markets continue to improve and develop,more and more attention has been paid to the delisting of listed companies.Listed companies forced to withdraw from the market for business and personal losses are huge,by means of various adjustment of profits of listed companies is difficult to fundamentally avoid being forced to withdraw from the market,only to improve their management to effectively avoid delisting fundamentally.But at present,the listed companies can learn from the specific case study of listed companies forced to withdraw from the market is less,so this paper selects listed companies delisting case study.This paper selects *ST Nanjing Tanker Corporation as the research object,the reasons for the delisting of Listed Companies in the same industry and even the entire capital market has a strong warning role and reference.This paper focuses on the two angles of the internal and external factors that lead to delisting,using case study method,combined with the relevant basic theory and related references,firstly analyzing the financial characteristics of the *ST Nanjing Tanker Corporation,and then making a detailed analysis of the delisting reasons of *ST Nanjing Tanker Corporation.On the basis of this,this paper gives some enlightenment to the shipping enterprises in the aspects of management and development.It also puts forward some reference value to further improve the capital market.In this paper,we found that: first of all,*ST Nanjing Tanker Corporation has a shortage of cash flow,debt scale is far higher than the level of the same industry,the liquidity of assets such as poor financial characteristics.Secondly,due to the delisting of *ST Nanjing Tanker Corporation is the comprehensive effect of internal and external reasons causes,which mainly include: business environment deterioration,favorable policies,failed to achieve the group failed to inject aid;the internal cause is the root cause of the delisting of *ST Nanjing Tanker Corporation,mainly including business transformation missed the best time,hire mistakes,the mechanism of investment decision has defects,lack of political risk management etc.Finally,the paper is based on the financial characteristics of the delisting of *ST Nanjing Tanker Corporation,to the delisting of *ST Nanjing Tanker Corporation as lessons for theshipping companies with reference significance.At the same time,in order to further improve the capital market,this paper puts forward some suggestions to improve the accountability system of the state-owned enterprises’ investment mistakes and deepen the reform of state-owned enterprises.