面值退市警报再响！8.4万股东能否出逃？
作者：卢丹
来源： 上海证券报
临近岁末，有两只“破面股”再次陷入退市危机：一只是*ST刚泰，至今日已经连续13个交易日收盘价低于1元；一只是*ST金钰，至今日已经连续12个交易日收盘价低于1元。
根据沪深交易所的规则，连续20个交易日收盘价低于1元，上市公司股票将触及终止上市情形。由此可见，两只个股的上市地位已经岌岌可危。
回顾历史，*ST刚泰和*ST金钰均多次打赢过“退市保卫战”。这次，他们俩是依然能起死回生，还是就此挥手告别？
*ST刚泰和*ST金钰危险了！
今日开盘，*ST刚泰一字跌停，至收盘卖一位置仍有24.7万手未消化卖单。至此，*ST刚泰已经连续13个交易日收盘价低于1元面值。
*ST刚泰今日收于0.72元/股，如果该股可以在接下来的7个交易日连续收获涨停，则能够在连续的第20个交易日股价恢复1元以上。
但是，连续7个涨停的难度大家可想而知，今日，*ST刚泰的股吧里已经有不少投资者开始担忧、悔过和懊恼了。
与*ST刚泰相比，*ST金钰的处境相对安全一点。
至今日收盘，*ST金钰收于0.91元/股，连续12个交易日收盘价低于1元。股价恢复至1元以上尚有很高概率。
追溯*ST刚泰和*ST金钰的历史走势，*ST刚泰曾在今年4月份连续13个交易日收盘价低于1元面值，随后连拉涨停得以暂时解除退市危机；*ST金钰则在今年7月份连续12个交易日收盘价低于1元面值，同样借助一波连续涨停脱险。
8.4万户股东 能否出逃尚且未知
根据*ST刚泰2020年三季报披露的股东户数，尚有2.62万户股东持有该股。
根据*ST金钰今年三季报数据，虽然三季度较二季度股东户数明显下降，降幅达33%，但截至三季度末持有*ST金钰的股东户数仍然高达5.76万户。
某大型券商高级投资顾问告诉记者：“今年有不少客户遇到了持仓个股面临退市的情况，基本上是连续挂跌停板价格尽量卖出，不过好在他们持有退市股的市值仅占持仓市值的极小部分，没有遇到炒作退市股的客户。”
年内已有12只个股破面退市
值得一提的是，今年以来已有12只个股触发“面值退市”，数量超过此前历年的案例总和。
若以多年前的眼光来“审美”，这些“面值退市”股基本都符合股价低、市值小、基本面差的“性感指标”。然而时至今日，“性感指标”已成致命缺陷，即便不少个股在首次面对“面值退市危机”时能够化险为夷，然而逃得了一时，逃不了一世，市场的眼睛是雪亮的，等待这些个股下场往往都是退市。
近期，监管层频繁发声提及退市制度改革。业内人士认为，这一重要制度改革将会提高资本市场运行效率，进一步发挥资本市场优胜劣汰、合理配置资源的功能。
截至今日收盘，根据东方财富Choice数据统计，尚有27只个股收盘价不足1.5元（剔除已进入退市整理期的个股），其中ST和*ST个股数量占比高达88.9%。
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