Goldman Sachs adds to position in ST Qingyue against the trend, now down over 90%, as company locks in trading-related mandatory delisting

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โดย *ST清越2026年中报·CN·Read original
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Lan鲸 News, September 10: ST Qingyue announced on the evening of September 10 that its shares had triggered trading-related mandatory delisting conditions and would be suspended from the next trading day. As of the close on the 10th, ST Qingyue closed at 0.58 yuan per share, down 20.55%, with a total market value of 261 million yuan, making it the lowest-priced stock on the STAR Market. The company's shares had previously closed below 1 yuan for 20 consecutive trading days, triggering trading-related mandatory delisting, and shares of companies subject to trading-related mandatory delisting do not enter a delisting consolidation period. On September 1, ST Qingyue received an advance notice of administrative penalty from the China Securities Regulatory Commission, which determined that the company may have triggered mandatory delisting for major violations. Its financial fraud began as early as the IPO application stage, with inflated total profit in the first half of 2022 accounting for 131.74% of disclosed total profit. The CSRC plans to impose a fine of 171.88 million yuan on the company, including 164.88 million yuan for fraudulent issuance and 7 million yuan for information disclosure violations, and to impose fines totaling 33 million yuan on four responsible individuals, along with market entry bans of 4 to 8 years. As risks continued to surface, Goldman Sachs entered the top ten tradable shareholders of ST Qingyue in the fourth quarter of 2025, holding 1.1696 million shares, increased its holding to 1.2762 million shares in the first quarter of 2026, and then substantially increased it by another 1.3824 million shares in the second quarter, bringing its total holding to 2.6586 million shares, up 108.32% from the previous period, accounting for 1.12% of total share capital, jumping from the ninth-largest tradable shareholder to the fourth-largest. Based on a rough average share price of 6.5 yuan in the fourth quarter of 2025, Goldman Sachs' position cost was approximately 17.3 million yuan, while the current market value of its holding is only about 1.542 million yuan, a loss of more than 90%.

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Goldman Sachs Group Inc
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Goldman Sachs substantially increased its stake in ST Qingyue, a stock now facing mandatory delisting, so the position's outcome is unclear.

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