Core Viewpoint - Two listed companies, *ST Suwu and *ST Zitian, are facing delisting procedures due to serious financial fraud, highlighting the increasing regulatory scrutiny in the capital market [1][2]. Group 1: Delisting Procedures - *ST Suwu's stock price closed at 0.95 yuan per share, below the 1 yuan face value, risking delisting due to price [1][2]. - *ST Zitian has entered a delisting preparation period, with its stock expected to be delisted by October 13, 2025 [2]. Group 2: Financial Fraud Details - *ST Suwu inflated its revenue by a total of 4.95 billion, 4.69 billion, 4.31 billion, and 3.77 billion yuan from 2020 to 2023 [3]. - The company also had non-operational fund occupation by related parties totaling 47.56 billion yuan from the end of 2020 to the end of 2023 [3]. - *ST Zitian inflated its revenue by a total of 24.99 billion yuan over two years, with 7.78 billion yuan in 2022 alone, accounting for 44.59% of its revenue [4]. Group 3: Investor Compensation - Legal channels for investor compensation have opened, with specific periods defined for *ST Suwu and *ST Zitian for eligible claims [5]. - The increasing awareness of investor rights and the rising costs of violations for listed companies are evident in these cases [5]. - Audit firms involved in these companies may also face legal consequences for their roles in the financial fraud [5].

证券代码：600200 证券简称：*ST 苏吴 公告编号：临 2025-111 江苏吴中医药发展股份有限公司关于公司股票 可能被实施重大违法强制退市的第十一次风险提示公告 本公司董事会及董事会全体成员保证公告内容不存在虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实、准确和完整承担法律责任。 重要风险提示： 一、公司股票可能被实施重大违法强制退市风险暨立案调查进展情况 截至本公告披露日，公司尚未收到就上述立案调查事项的正式处罚决定，公 司将全力配合中国证监会的相关工作,并严格按照相关要求履行信息披露义务。 如根据正式的行政处罚决定书结论，公司触及重大违法强制退市情形，公司股票 将被终止上市。 二、其他说明及风险提示 1、公司将全力配合中国证监会的相关工作，最终结果以中国证监会出具的 正式处罚决定为准。敬请广大投资者关注后续公告并注意投资风险。 2、根据《上海证券交易所股票上市规则》第 9.5.7 条、第 9.5.8 条，如公 司后续收到行政处罚决定书，显示公司触及重大违法类强制退市情形，公司将申 请停牌，并及时披露有关内容。上海证券交易所将在停牌之日起的 5 个交易日内， 向公司发出拟终止股票上市的事先告 ...

Group 1 - The average stock price of A-shares is 13.49 yuan, with 24 stocks priced below 2 yuan, the lowest being *ST Gao Hong at 0.51 yuan [1] - Among the low-priced stocks, 12 are ST stocks, accounting for 50% of the total [1] - The Shanghai Composite Index closed at 3831.66 points as of September 18 [1] Group 2 - Among the low-priced stocks, 11 increased in price today, with the highest gainers being Yongtai Energy (up 10.32%), Liao Port Co. (up 2.75%), and *ST Su Wu (up 2.15%) [1] - Conversely, 11 stocks decreased in price, with the largest declines seen in Rongsheng Development (down 8.54%), *ST Gao Hong (down 5.56%), and Zhitian Tui (down 5.36%) [1] - The stock price performance of low-priced stocks shows a mixed trend, indicating volatility in this segment [1]

Core Viewpoint - The ongoing dispute over the exclusive agency rights for the "AestheFill" product between Aimeike and *ST Suwu has seen new developments, with a recent arbitration decision impacting sales and distribution rights in mainland China [1][2][3]. Summary by Relevant Sections Arbitration Decision - The emergency arbitrator's decision prohibits Korean REGEN Company (Aimeike's subsidiary) from independently selling "AestheFill" in mainland China until the arbitration outcome is determined [1]. - The decision also affirms that DaTou Medical (*ST Suwu's subsidiary) remains the exclusive distributor of AestheFill in mainland China [1][3]. Company Responses - An internal source from Aimeike clarified that the recent decision is not a final arbitration result but a preliminary measure to protect rights before the final ruling [2]. - *ST Suwu stated that REGEN must cease any other sales methods in mainland China, reinforcing their position as the exclusive distributor [3]. Financial Implications - *ST Suwu highlighted that losing the AestheFill rights could significantly impact their revenue, with projected sales of 326 million yuan in 2024, accounting for 20.42% of total revenue, and a gross profit of 269 million yuan, representing 34.80% of total gross profit [16]. - The first quarter of 2025 is expected to see AestheFill sales of 113 million yuan, making up 35.55% of total revenue and 45.77% of gross profit [16]. Product Background - AestheFill, known as "童颜针" (youthful needle), is a regenerative aesthetic injection agent used for filling and improving wrinkles, with a market price ranging from 19,800 yuan to 23,700 yuan per unit [16].

Group 1 - The average stock price of A-shares is 13.65 yuan, with 24 stocks priced below 2 yuan, the lowest being *ST Gao Hong at 0.54 yuan [1] - Among the low-priced stocks, 12 are ST stocks, accounting for 50% of the total [1] - The Shanghai Composite Index closed at 3876.34 points as of September 17 [1] Group 2 - Among the low-priced stocks, three increased in price today, with *ST Yuan Cheng leading at a rise of 4.97% [1] - The majority of low-priced stocks, 17 in total, experienced declines, with Rongsheng Development falling by 6.13% [2][1] - The trading volume and turnover rates vary significantly among low-priced stocks, with *ST Gao Hong having a turnover rate of 0.24% [1]

Core Insights - The A-share market has seen significant declines in stock prices over the past year, particularly in the context of the "924 market" anniversary, with 26 stocks dropping over 20% and 75 stocks falling more than 10% [1][2] Group 1: Stock Performance - 26 stocks have experienced a decline of over 20% from September 24, 2024, to September 16, 2025, with 14 of these being ST stocks [1] - The stock with the largest decline is 紫天退 (Zitian Tui), which fell by 95.39%, followed by *ST苏吴 (ST Suwu) with an 88.95% drop, and *ST高鸿 (ST Gaohong) with a 77.38% decrease [1][2] - A total of 145 stocks have seen declines over the past year, indicating a broader trend of underperformance in the market [1] Group 2: Market Capitalization - The market capitalization of 紫天退 (Zitian Tui) is reported at 0.92 billion, while *ST苏吴 (ST Suwu) has a market cap of 6.68 billion, and *ST高鸿 (ST Gaohong) stands at 6.60 billion [2] - The significant declines in stock prices have led to substantial reductions in market capitalization for these companies, reflecting investor sentiment and market conditions [2]

Group 1 - The core viewpoint of the articles revolves around legal actions taken against companies Peng Bo Shi and Jiangsu Wu Zhong for failing to disclose significant financial information and engaging in fraudulent activities, leading to investor lawsuits [1][2][3] - Peng Bo Shi has been found guilty of not disclosing related party transactions, major contracts, and false records in annual reports from 2012 to 2022, resulting in a court ruling favoring investors [1][2] - Jiangsu Wu Zhong has been implicated in inflating revenue, costs, and profits in its annual reports from 2020 to 2023, with specific figures detailing the extent of the inflation [2][3] Group 2 - Investors who purchased shares of Peng Bo Shi between April 12, 2013, and July 18, 2023, and sold or held them after July 18, 2023, are eligible to file claims, with precedents of successful rulings [2] - For Jiangsu Wu Zhong, investors who bought shares between April 20, 2019, and February 27, 2025, and sold or held them after February 27, 2025, can also initiate claims based on the company's violations [3] - The legal team continues to accept claims from other investors affected by these companies' actions, indicating ongoing legal proceedings and potential for further rulings [1][2][3]

Core Points - The average stock price of A-shares is 13.58 yuan, with 22 stocks priced below 2 yuan, the lowest being *ST Gao Hong at 0.57 yuan [1] - Among the low-priced stocks, 12 are ST stocks, accounting for 54.55% of the total [1] - The Shanghai Composite Index closed at 3861.87 points as of September 16 [1] Low-Priced Stocks Summary - The lowest priced stock is *ST Gao Hong at 0.57 yuan, with a daily decline of 5.00% and a turnover rate of 0.31% [1] - Other notable low-priced stocks include: - *ST Su Wu at 0.94 yuan, down 1.05% [1] - Purple Sky Retreat at 0.57 yuan, down 9.52% [1] - Among the low-priced stocks, 16 increased in price today, with *ST Yuan Cheng leading at a rise of 5.23% [1] - The highest daily increase among low-priced stocks includes: - HNA Holding at 1.69 yuan, up 4.32% [1] - Liao Port Co. at 1.84 yuan, up 3.95% [1]

Group 1 - The Chinese Ministry of Commerce announced a basic framework consensus with the U.S. to resolve the TikTok issue and promote economic cooperation [2] - Nvidia is under further investigation for violating China's antitrust laws related to its acquisition of Mellanox Technologies [3] - The State Administration of Foreign Exchange released new measures to facilitate foreign investment and improve cross-border financing [4] Group 2 - The National Bureau of Statistics reported that the real estate market is stabilizing, with a narrowing decline in sales and prices over the first eight months of the year [8] - Multiple automotive companies, including Dongfeng and BYD, have committed to a new payment standard to enhance collaboration within the industry [9] - The U.S. is pressuring allies to impose tariffs on China based on its purchase of Russian oil, which China strongly opposes [7] Group 3 - Elon Musk disclosed a $1 billion purchase of Tesla shares, boosting investor confidence and the company's stock price [13] - Recent rumors about the collapse of gold merchants in Shenzhen were found to be exaggerated, with many businesses still operating normally [14] - Several new energy vehicle companies, including Neta and WM Motor, are attempting to revive operations after previous shutdowns [15] Group 4 - The energy storage industry is experiencing significant growth due to favorable policies and increased demand [16] - The semiconductor market is seeing a new wave of price increases, benefiting several related stocks [16] - The A-share market showed mixed performance, with the Shanghai Composite Index closing at 3860.50 points, down 0.26% [16][17]

Summary of Key Points Core Viewpoint - The average stock price of A-shares is 13.53 yuan, with 24 stocks priced below 2 yuan, the lowest being *ST Gao Hong at 0.60 yuan [1] Group 1: Market Overview - As of September 15, the Shanghai Composite Index closed at 3860.50 points, with a notable presence of low-priced stocks in the market [1] - Among the 24 low-priced stocks, 13 are ST stocks, accounting for 54.17% of this group [1] Group 2: Performance of Low-Priced Stocks - In the low-priced stock category, 10 stocks increased in price, with Rongsheng Development leading at a rise of 10.29%, followed by Yingxin Development at 5.03% and ST Lingnan at 4.32% [1] - Conversely, 9 stocks experienced declines, with the most significant drop seen in Zitian Tui at 77.01%, followed by *ST Su Wu at 5.00% and *ST Gao Hong at 4.76% [1] Group 3: Detailed Low-Priced Stock Data - The table lists various low-priced stocks, including their latest closing prices, daily price changes, turnover rates, and industry classifications [1][2] - Notable low-priced stocks include: - *ST Gao Hong: 0.60 yuan, -4.76% change, Communication industry - Zitian Tui: 0.63 yuan, -77.01% change, Media industry - *ST Su Wu: 0.95 yuan, -5.00% change, Pharmaceutical industry [1]