近一段时间陆续披露的2011年年报和今年一季报显示,在170家ST公司中,半数ST公司去年净利润为负,亏损超亿元的公司达41家。从一季报看,净利润亏损的ST公司仍高达109家。按照监管部门发布的退市新政,约有百余家上市公司达到了退市条件。虽然具备了退市条件,但从实际情况来看,并不代表就会退市。一方面,近年来管理层对ST公司并购重组的支持力度很大,多数公司都在积极推进企业重组。只是重组双方在利益分配、股权设置、管理架构等方面存在分歧,重组没有完成。新政的出台,无疑将推动企业重组步伐的加快。特别是ST公司,一定会做出让步,从而避免退市;另一方面,随着间接融资难度的不断加大,成本的不断提高,以及地方对企业上市 Recently published 2011 Annual Report and a quarterly report this year show that in the 170 ST companies, half of ST’s net profit last year was negative, loss of over 100 million companies reached 41. From a quarterly report, the net loss of ST company is still as high as 109. According to regulatory authorities released delisting New Deal, about a hundred listed companies reached the delisting conditions. Although with delisting conditions, but from the actual situation, does not mean that it will delisting. On the one hand, in recent years, management has strongly supported ST’s M & A and restructuring, and most companies are actively promoting corporate restructuring. Only the reorganization of the two sides in the distribution of benefits, equity ownership, management structure, there are differences, the restructuring has not been completed. The introduction of the New Deal, will undoubtedly promote the pace of corporate restructuring to speed up. In particular, ST companies will make concessions in order to avoid delisting; the other hand, with the increasing difficulty of indirect financing, rising costs, as well as local enterprises listed