Today, the three delisted stocks, Yuancheng, Tanyuan, and Tongda, collectively resumed trading and the stock price plummeted.

The decline of delisted Yuancheng was as high as 96%, Tanyuan was down 83%, and Tongda was down 80%.

These three companies were all delisted from the stock market by the Shanghai Stock Exchange on May 28 due to financial problems. Last night, all three delisted stocks announced that the start date of their delisting period was June 5, 2024, and the expected last trading date was June 26, 2024. Within five trading days after the delisting period expires, the exchange will delist the company's stocks, and the company's stocks will be delisted.

Two stocks will enter the delisting period tomorrow. On May 29th, the Shenzhen Stock Exchange announced that two companies, *ST Zhongqi and *ST Xinfang, would be delisted on the same day, and these two stocks will enter the delisting period on June 6th. Among them, *ST Zhongqi triggered the delisting situation of 'non-standard audit opinions issued for financial accounting reports'; *ST Xinfang triggered the delisting situation of 'negative net assets' and 'non-standard audit opinions issued for financial accounting reports'.

It is worth noting that the first trading day of the stock entering the delisting period does not implement the price limit.The daily price limit for the subsequent trading day is 10%.

According to public information, since its establishment in 2010, Yuanguang Technology has received investment from many professional investment institutions such as Alibaba, CBC Broadband Capital, and Didi, with a total financing of more than $50 million. Among them, Alibaba joined in the company's A1 round of financing and has been running with the company for ten years, which is a reflection of capital's favor and firm confidence in its value and development potential.The first market value delisting might be coming! At the close of yesterday, the total market value of *ST Universe was 293 million yuan, lower than the minimum standard of 300 million yuan stipulated by the exchange.*ST Universe announced that the company's stock market value at the close of June 4 was less than 300 million yuan. According to relevant regulations of the exchange, the company should disclose a risk warning announcement that its stocks may be terminated from listing before the next trading day. If the company's total market value at the closing of the stock is less than 300 million yuan for 20 consecutive trading days, the company's stock will be at risk of being delisted.

If the above mentioned risk comes true, this means that *ST Universe may become the first company in A shares history to be delisted for not meeting the market value standard and touching the delisting indicators for trading.

In April of this year, *ST Gome also issued a risk warning announcement. As of the closing price on April 24th, the market value was 291 million yuan, which was lower than 300 million yuan. The company's stock faces the risk of being delisted due to its market value. At present, the company is still hovering around 300 million yuan.

On April 30th this year, the Shanghai and Shenzhen Stock Exchanges officially released the revised "Stock Listing Rules". The new rules show that the market value delisting standard for main board A shares (including A+B shares) will be increased from 300 million yuan to 500 million yuan from October 30 this year, and the delisting standard for B shares, Growth Enterprise Board and Science and Technology Innovation Board will remain at 300 million yuan. During the "transitional period" from April 30th to October 30th, the market value delisting standard for the main board remains at 300 million yuan.

As of June 5th, there were 21 companies in the Shanghai and Shenzhen stock markets with a total market value of less than 500 million yuan.

The market is accelerating its clearance, and industry insiders say that A-shares may be experiencing a huge historical change from small stock premiums to small stock discounts.

Since the beginning of this year, there has been a sharp differentiation between large-cap and small-cap styles. The small-cap style has seen a large decline this year, with the Hithink RoyalFlush Micro Cap Index falling more than 9% in the three trading days of this week and plummeting 37% year-to-date. The CSI 2000 and CSI 1000 fell more than 19% and 10% respectively this year.

The market has favored the large-cap style this year. The large-cap stock index represented by the SSE 50 and CSI 300 has risen more than 6% and 4% respectively this year, outperforming the SSE Composite Index, which rose 3% during the same period. From the perspective of ETF funds,The HS300ETF and HS300ETF Yi Fangda rose more than 5%;The CSI 2000ETF,The CNI 2000 index ETF fell more than 10%.

In terms of market value, the differentiation between large-cap and small-cap styles is more obvious. According to statistics from the ETF evolution, as of June 5, 72% of large-cap style stocks with a market value of more than 100 billion yuan have seen an increase in their prices, with an average increase of 11%.

At the same time, among micro-cap stocks with a market value of less than 2 billion yuan, only 0.5% are in the red this year, with an average decline of as much as 37%. Against the backdrop of stricter regulation, from April 12 to May 30, a total of 39 listed companies in the market were issued with other risk warnings, namely ST; 55 listed companies were subject to ST stacking delisting risk warnings, namely *ST; and 33 listed companies issued relevant announcements that they may be delisted from the stock exchange.

Annual report inquiries have also been coming in a flurry, with 13 listed companies receiving inquiries about their annual reports on Tuesday evening after 10 companies announced the same on Monday.

Since the beginning of this year, small-cap stocks have become a heavily affected area for capital outflow, while 'large and beautiful' stocks have been favored for market funds.