Core Viewpoint - The A-share market is experiencing a notable wave of companies lifting their ST (Special Treatment) status, with ST Xin Ya (002388) being the first to do so in 2026, marking the beginning of a trend for other companies to follow [2][3]. Group 1: Company Announcements - ST Xin Ya's stock was renamed to "Xin Ya Zhi Cheng" on January 12, 2026, after a one-day suspension, officially becoming the first company to lift its ST status in 2026 [6]. - Other companies such as Yishite (300376), ST Ningke (600165), ST Zhongzhuang (002822), and Zhengtong Electronics (002197) have also announced their successful applications to lift risk warnings in January 2026 [2][4][5]. Group 2: Regulatory Background - All companies that successfully lifted their ST status had previously faced severe penalties for significant information disclosure violations [9]. - Zhengtong Electronics was fined 4 million yuan for fabricating business activities, which led to false records of profits totaling 507.74 million yuan and 84 million yuan in 2017 and 2019, respectively [9]. - Yishite's financial misconduct spanned five years, with a peak revenue inflation of 1.293 billion yuan in 2018, constituting 27.78% of its reported revenue for that year, resulting in an 8 million yuan fine [9]. - ST Ningke and ST Zhongzhuang also faced penalties for false disclosures in their annual reports from 2017 to 2021 [10][11]. Group 3: Investor Implications - The successful lifting of ST status is seen as a positive development for investors, as it may facilitate the recovery of losses through legal actions against the companies for previous false statements [14]. - Ongoing legal actions have shown progress, with some investors winning compensation from ST Zhongzhuang, ST Ningke, and Yishite, while cases for Xin Ya Zhi Cheng and Zhengtong Electronics are still under review [14].

Core Viewpoint - As of January 22, a total of 15 ST stocks have announced their annual performance forecasts, with 1 company expecting profit, 7 companies expecting reduced losses, and 5 companies expecting losses [1] Group 1: Performance Forecasts - The company with the highest expected loss is ST Changyuan, with an estimated loss of 1.08 billion yuan, followed by ST Saiwei and ST Dongshi, with expected losses of 720 million yuan and 600 million yuan respectively [1] - The detailed performance forecasts for ST stocks include: - *ST Huawei: Expected profit of 175 million yuan to 145 million yuan, with a year-to-date change of +6.28% [1] - ST Yuanzhi: Expected profit of 110 million yuan to 90 million yuan, with a year-to-date change of +16.82% [1] - *ST Tianze: Expected profit of 30 million yuan to 27 million yuan, with a year-to-date change of +7.96% [1] - ST Hongda: Expected reduced loss of 16 million yuan to 24 million yuan, with a year-to-date change of +9.40% [1] - *ST Yatai: Expected reduced loss of 28.39 million yuan to 51.46 million yuan, with a year-to-date change of +27.80% [1] - ST Ningke: Expected reduced loss of 75 million yuan to 100 million yuan, with a year-to-date change of -6.02% [1] - *ST Huawang: Expected reduced loss of 180 million yuan to 240 million yuan, with a year-to-date change of -6.46% [1] - *ST Changyao: Expected reduced loss of 350 million yuan to 520 million yuan, with a year-to-date change of -26.44% [1] - *ST Zhanggu: Expected reduced loss of 450 million yuan to 550 million yuan, with a year-to-date change of -6.57% [1] - ST Huayang: Expected loss of 590 million yuan to 700 million yuan, with a year-to-date change of +4.75% [1] - ST Dongshi: Expected reduced loss of 600 million yuan to 700 million yuan, with a year-to-date change of +2.93% [1] - ST Saiwei: Expected loss of 720 million yuan to 1.02 billion yuan, with a year-to-date change of +44.61% [1] - ST Changyuan: Expected loss of 1.08 billion yuan to 1.45 billion yuan, with a year-to-date change of +24.93% [1] - *ST Yanshi: Expected loss, no specific figures provided, with a year-to-date change of -22.76% [1] - *ST Wanfang: Expected loss, no specific figures provided, with a year-to-date change of -24.79% [1]

Core Viewpoint - As of January 20, a total of 10 ST stocks have announced their annual performance forecasts, with 1 company expecting profit, 4 companies expecting losses, and 3 companies expecting reduced losses [1] Group 1: Performance Forecasts - The company with the highest expected loss is ST Changyuan, forecasting a minimum loss of 1.08 billion yuan, followed by ST Huayang and *ST Zhanggu, with expected losses of 590 million yuan and 450 million yuan respectively [1] - The performance forecast details show that *ST Hua is expecting a profit increase with a projected net profit range of 145 million to 175 million yuan, while ST Yuanzhijia is also expecting a profit increase with a range of 90 million to 110 million yuan [1] - *ST Tianze is forecasting a profit with an expected net profit range of 27 million to 30 million yuan [1] Group 2: Loss Reduction - ST Ningke is expecting a reduced loss of between 75 million and 100 million yuan, while *ST Huawang is forecasting a reduced loss of between 180 million and 240 million yuan [1] - *ST Zhanggu is also expecting a reduced loss, with a forecasted range of 450 million to 550 million yuan [1] Group 3: Industry Performance - The industries represented include electronics, machinery, media, basic chemicals, construction decoration, and social services, with varying performance trends across these sectors [1] - The highest increase in stock price this year is seen in ST Changyuan, with a rise of 24.93%, while *ST Yanshi and *ST Wanfang have experienced declines of 14.48% and 16.45% respectively [1]

Core Viewpoint - ST Ningke (600165.SH) expects a significant net loss for the year 2025, indicating ongoing financial challenges for the company [1] Financial Projections - The company anticipates a net profit attributable to shareholders of between -100 million yuan and -75 million yuan for the year 2025 [1] - The expected net profit, after deducting non-recurring gains and losses, is projected to be between -450 million yuan and -360 million yuan for the same period [1]

Group 1 - The company ST Ningke expects a net profit attributable to shareholders for the year 2025 to be between -100 million to -75 million yuan, compared to a loss of approximately 539 million yuan in the same period last year [1] - The main reasons for the performance change include the company's bankruptcy restructuring phase and insufficient capacity release due to production line technical upgrades, leading to operational losses [1] - The company plans to make impairment provisions for relevant long-term assets and inventory based on prudence, which will significantly impact the current period's performance [1] Group 2 - In the second half of 2025, the company will initiate production line technical upgrades, resulting in some equipment being idle and certain products having relatively high costs [1]

证券代码：600165 股票简称：ST 宁科 公告编号：临 2026-006 宁夏中科生物科技股份有限公司 2025年年度业绩预亏公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： ● 业绩预告的适用情形：净利润为负值。 ● 宁夏中科生物科技股份有限公司（以下简称：公司）预计 2025 年年度实 现归属于上市公司股东的净利润为-10,000 万元到-7,500 万元。 ● 公司预计 2025 年年度实现归属于上市公司股东扣除非经常性损益后的净 利润为-45,000 万元到-36,000 万元。 一、本期业绩预告情况 2、预计 2025 年年度实现归属于上市公司股东扣除非经常性损益后的净利润 为-45,000 万元到-36,000 万元。 （一）业绩预告期间 2025 年 1 月 1 日至 2025 年 12 月 31 日。 （二）业绩预告情况 1、经财务部门初步测算，预计 2025 年年度实现归属于上市公司股东的净利 润为-10,000 万元到-7,500 万元。 （三）本期业绩预告未经注册会计师审计。 二、 ...

Regulatory Actions - Multiple listed companies are facing regulatory scrutiny for information disclosure violations, with Tianpu Co. and Xiangrikui being investigated, while Jushi Chemical received a pre-penalty notice [1][2][3] - ST Huilun and Langjin Technology have received administrative penalty decisions for various violations, including failure to disclose fund occupation and false financial reporting [4] Risk Warning Adjustments - New Asia Process and Yishite successfully removed risk warnings and changed their stock names, indicating improved market recognition after rectification [5] - ST Ningke has also had its delisting risk warning lifted, reflecting the resolution of previous issues related to timely information disclosure [5] Investor Litigation - Investors represented by the Xie Liang lawyer team have won a first-instance judgment against ST Renzihang for securities fraud, allowing eligible investors to register for compensation [6] - The case revealed that ST Renzihang had inflated revenue and profits through fictitious transactions, leading to significant financial misstatements in their reports [6] Compensation Conditions - Preliminary conditions for investor compensation have been outlined, specifying the time frames and stock purchase conditions for various companies involved in the regulatory actions [7] - Investors who meet these conditions can register their losses through designated platforms for potential legal action [8]

Core Viewpoint - Ningxia Zhongke Biotechnology Co., Ltd. has successfully applied to revoke the delisting risk warning after the court terminated its restructuring process, allowing the company to continue trading under other risk warnings [2][3]. Group 1: Stock Trading and Risk Warnings - The delisting risk warning was lifted on January 12, 2026, and the stock will be traded under the name "ST Ningke" starting January 14, 2026, after a one-day suspension on January 13, 2026 [2][4]. - The stock price will still be subject to a daily fluctuation limit of 5% as it remains on the risk warning board [2]. Group 2: Financial Performance and Other Risks - The company has faced continuous losses, with a net profit of -53,890.69 million yuan for the year 2024, and a net profit of -40,467.35 million yuan after deducting non-recurring gains and losses [5]. - The company has been under other risk warnings since April 8, 2024, due to its subsidiary entering a production halt and ongoing uncertainties regarding sustainable operational capabilities [5][6]. - As of the third quarter of 2025, the company reported revenue of 32,735.24 million yuan and a net profit attributable to shareholders of -25,097.92 million yuan, with net assets of -17,918.57 million yuan [7].

Core Viewpoint - *ST Ningke (600165.SH) has been granted a court ruling to terminate its restructuring process, leading to the removal of the delisting risk warning for its stock [1] Group 1: Company Actions - The company applied to the Shanghai Stock Exchange on January 1, 2026, to revoke the delisting risk warning [1] - The Shanghai Stock Exchange agreed to revoke the delisting risk warning on January 12, 2026, while continuing to implement other risk warnings [1] - The stock will be suspended for one day on January 13, 2026, and will resume trading on January 14, 2026, with the new stock abbreviation "ST Ningke" [1] Group 2: Trading Conditions - The stock will continue to trade on the risk warning board, with a daily price fluctuation limit of 5% [1]

Core Viewpoint - *ST Ningke (600165.SH) has been granted a court ruling to terminate its restructuring process, leading to the removal of the delisting risk warning for its stock [1] Group 1: Company Actions - The company applied to the Shanghai Stock Exchange on January 1, 2026, to revoke the delisting risk warning [1] - The Shanghai Stock Exchange agreed to revoke the delisting risk warning on January 12, 2026, while continuing to implement other risk warnings [1] - The stock will be suspended for one day starting January 13, 2026, and will resume trading on January 14, 2026, with the new abbreviation "ST Ningke" [1] Group 2: Trading Conditions - The stock will continue to trade on the risk warning board, with a daily price fluctuation limit of 5% [1]