Recently, ST XinHai (stock code: 002089) was decided by the Shenzhen Stock Exchange to be delisted due to serious violations, becoming the first company to be delisted from the A-share market in 2024 due to such reasons. Among them, the "private network communication scam" involving ST XinHai has attracted widespread attention.
The "private network communication scam" as a serious violation has caused huge waves in the A-share market. The core of the scam involved false advertising and irregular recruitment in the field of "private network communication," involving a huge amount of money, which severely damaged market order and investor interests.
As early as 2021, ST XinHai had caused market turmoil for its suspected involvement in the scam. This incident also involved more than ten A-share companies engaging in private network communication business, which were successively investigated and received regulatory penalties, with ST XinHai being one of them.
The impact of the private network communication scam was not limited to individual companies but had a serious effect on the entire market. The companies involved in the scam used various methods, including false advertising and irregular recruitment, leading to damaged investor trust and weakened market confidence. Regulatory authorities have paid close attention to this, actively investigating and dealing with the matter to maintain the fairness, transparency, and stability of the market.
For ST XinHai, the decision to delist means the company will face a severe situation. Although the company had previously been included on the delisting rectification board, some investors still hoped against hope that the company could safely get through it, but in the end, ST XinHai could not avoid the fate of being delisted. This also serves as a warning to other listed companies, reminding them to abide by market rules and operate legally, otherwise, they will face severe legal sanctions and market penalties.
The ST XinHai incident has also triggered widespread attention and reflection in the market. Investors have raised higher demands for the regulation and governance system of the A-share market, calling on regulatory authorities to strengthen supervision of listed companies, promptly discover and punish various illegal activities, to maintain market order and protect investor interests.
In summary, the private network communication scam as a serious violation has severely damaged market order and investor interests. Regulatory authorities should further strengthen market supervision, maintain order, protect investor interests, and promote the healthy development of the market.
