Shanghai Securities: La Chapel Will Delist On May 24

Clothing brand La chapel recently announced that Shanghai Stock Exchange will delist A-share shares of the company on May 24.

According to the announcement, due to the negative net assets of the company's shareholders at the end of 2020, the delisting risk warning of the company's shares will continue to be implemented since April 30, 2021. On March 31, 2022, rachabel disclosed the 2021 annual report. At the end of 2021, the net assets attributable to the shareholders of the listed company was RMB - 1.431 billion. Dahua Certified Public Accountants (special general partnership) issued an audit report with qualified opinions on the company's financial accounting report in 2021. The above situation belongs to the situation of termination of listing of Shares specified in article 9.3.11 of the Listing Rules of Shanghai Stock Exchange. After the examination and approval of the Listing Committee of Shanghai Stock Exchange, the Shanghai Stock Exchange decided to terminate the listing of the company's shares.

According to the relevant provisions of the Listing Rules of Shanghai Stock Exchange and the arrangement of Shanghai Stock Exchange, Shanghai Stock Exchange will delist the company's A-share stock on May 24, 2022, and terminate the listing of the company's A-share stock.

After the termination of listing, it will be transferred to the share transfer system for share transfer. According to the relevant provisions of "Interim Measures for stock transfer of two network companies and delisted companies of national small and medium-sized enterprises stock transfer system", the shareholders of La chapel company need to go through the registration of share right confirmation after the listing of a shares of the company, and their shares can be listed and transferred in the stock transfer system.

It is understood that La chapel was founded in 1998 and landed on the Hong Kong Stock Exchange in 2014, and then landed in the A-share market again in 2017, which was once a great success.

But since 2018, La chapel has been losing money and going from bad to worse. In 2018, the net losses were RMB 1.356 billion, RMB 0.256 billion and RMB 0.256 billion respectively in 2018. From once crazy shop opening to debt pressure, subsidiaries being sold, closing stores to save themselves and delisting from the stock market, La charbelle ushered in his own end in the stock market.

However, in the 2021 annual performance announcement released at the end of March this year, rachabel said that even if a shares were delisted, it would not affect the normal operation of the company.