New Stock Issuance - Fushun Special Steel (600399) has a tender offer period from August 12, 2025, to September 10, 2025[1] - KaiPu Cloud (688228) reported severe abnormal fluctuations on August 30, 2025[1] - Xinhua Jin (600735) announced on August 30, 2025, regarding its stock activities[1] Trading Alerts - JiShi Media (601929) issued a notice on August 30, 2025, regarding trading activities[1] - XianDao Intelligent (300450) and DeChuang Environmental (603177) both reported updates on September 2, 2025[1] - Huahai Pharmaceutical (600521) and *ST HuiCheng (002168) also provided trading updates on September 2, 2025[1] Abnormal Fluctuations - Several companies, including Changjiang Materials (001296) and WanBangDe (002082), reported abnormal fluctuations on August 28, 2025[3] - Longjing Technology (301396) and Jinli Yongci (300748) also noted significant trading irregularities on August 27, 2025[3] - The report includes multiple links to announcements regarding trading activities and fluctuations for various companies[3]

证券代码：600200 证券简称：*ST苏吴 公告编号：临2025-100 江苏吴中医药发展股份有限公司 股票交易异常波动的公告 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。 重要风险提示： 江苏吴中医药发展股份有限公司（以下简称"公司"）股票连续三个交 易日内收盘价格跌幅偏离值累计超过 12%，属于股票交易异常波动的情形。 2025 年 7 月 13 日，公司收到中国证券监督管理委员会（以下简称"中 国证监会"）下发的《行政处罚事先告知书》（处罚字〔2025〕58 号），具体 内容详见公司于 2025 年 7 月 14 日披露的《关于收到中国证券监督管理委员会< 行政处罚事先告知书>的公告》（公告编号：临 2025-064）。公司股票已于 2025 年 7 月 14 日起被叠加实施退市风险警示，如根据中国证监会正式的处罚决定书 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。敬请广大投资 者关注后续公告并注意投资风险。 公司 2024 年度财务报告被年审机构出具无法表示意见，触及《上海证券 交易所股票上市规则》第 ...

Group 1 - The stock exchange monitors trading behavior of stocks that exhibit significant abnormal fluctuations within 10 trading days after such events occur, particularly focusing on large buy or sell orders within a one-minute timeframe [1] Group 2 - A list of stocks under abnormal fluctuation monitoring includes: - Kaipu Cloud: Monitoring from September 1, 2025, to September 12, 2025, with abnormal activity starting on August 25, 2025 - *ST Gao Hong: Monitoring from August 26, 2025, to September 8, 2025, with undisclosed abnormal activity start date - Siquan New Materials: Monitoring from August 22, 2025, to September 4, 2025, with undisclosed abnormal activity start date - *ST Su Wu: Monitoring from August 21, 2025, to September 3, 2025, with undisclosed abnormal activity start date - Sano Medical: Monitoring from August 19, 2025, to September 1, 2025, with abnormal activity starting on August 7, 2025 [2][3]

Core Viewpoint - *ST Suwu has experienced a significant decline in both revenue and net profit in the first half of 2025, primarily due to a substantial impairment provision for trade receivables, despite high growth in its medical beauty segment. The loss of exclusive distribution rights for its key product, AestheFill, poses a serious challenge for the company's future performance [2][3][7]. Financial Performance - In the first half of 2025, *ST Suwu reported revenue of 636 million yuan, a year-on-year decrease of 27.08% [3]. - The net profit attributable to shareholders was a loss of 44.42 million yuan, a decline of 281.63% compared to the previous year [3]. - The operating cash flow was negative at -885 million yuan, down 680.0% year-on-year [3]. - Basic earnings per share stood at -0.062 yuan [3]. Business Segment Analysis - The pharmaceutical business, as the traditional core segment, generated revenue of 358.10 million yuan, a decline of 53.81% year-on-year [4]. - The medical beauty segment achieved revenue of 268.19 million yuan, a remarkable increase of 234.73% year-on-year [5]. - The gross profit from the pharmaceutical segment was 184.66 million yuan, down 32.09% year-on-year, while the medical beauty segment's gross profit was 220.44 million yuan, up 231.94% year-on-year [5]. Key Product and Market Changes - The exclusive distribution rights for AestheFill were unilaterally terminated by Regen Biotech, which poses a significant risk to *ST Suwu's revenue stream [7]. - The termination was attributed to alleged violations of the distribution agreement and financial misconduct by *ST Suwu [7][8]. - The product AestheFill will be rebranded as "Zhen Ai Su Fei" in the Chinese market, further complicating *ST Suwu's ability to maintain its market position [8]. Stock Market Activity - Despite the declining performance and potential delisting risks, *ST Suwu's stock has seen unusual trading activity, with significant price increases observed in late August 2025 [8][9]. - The stock price fluctuated, with a notable drop of 1.71% and 5.22% on August 28 and 29, respectively, bringing it close to the warning line of 1 yuan [9].

Core Points - The board of directors of Jiangsu Wuzhong Pharmaceutical Development Co., Ltd. held its fifth meeting of the eleventh session on August 19, 2025, where all seven directors attended and approved several key resolutions [1][2] - The meeting approved the general manager's work report for the first half of 2025, with a unanimous vote of 7 in favor [1] - The board also approved the half-year report and summary for 2025, which had been reviewed and unanimously passed by the audit committee [2] - A special report on the storage and actual use of funds raised from a non-public offering in the first half of 2025 was also approved, with a unanimous vote [2] - The board approved a proposal regarding the postponement of certain fundraising investment projects, which will be disclosed in detail on August 29, 2025 [2]

Core Viewpoint - The supervisory board of Jiangsu Wuzhong Pharmaceutical Development Co., Ltd. has approved the company's 2025 semi-annual report, a special report on the use of funds raised from a private placement, and a proposal for the postponement of certain investment projects funded by the raised capital, indicating compliance with relevant laws and regulations [1][2]. Group 1 - The supervisory board confirmed that the 2025 semi-annual report was prepared and reviewed in accordance with the Company Law, Shanghai Stock Exchange listing rules, and other regulations, accurately reflecting the company's operational and financial status for the first half of 2025 [1]. - The voting results for the approval of the semi-annual report were unanimous, with 3 votes in favor, 0 abstentions, and 0 votes against [2]. - The supervisory board also approved a special report on the storage and actual use of funds raised from the private placement, affirming its compliance with relevant laws and regulations [2]. Group 2 - The supervisory board agreed to the postponement of certain investment projects funded by the raised capital, stating that this decision was made after careful analysis and would not harm the interests of the company or its shareholders [2]. - The voting results for the approval of the investment project postponement were also unanimous, with 3 votes in favor, 0 abstentions, and 0 votes against [2].

Core Viewpoint - Jiangsu Wuzhong Pharmaceutical Development Co., Ltd. has announced a delay in the completion of certain fundraising investment projects, specifically extending the expected operational date for the raw material drug phase II project to July 2026, due to ongoing technical improvements and to ensure project quality [1][4][5]. Fundraising Overview - The company was approved to issue up to 45.38 million shares, with an actual issuance of 41,046,070 shares at a price of 12.52 yuan per share, raising a total of approximately 513.90 million yuan, netting about 502.38 million yuan after deducting issuance costs [1][2]. - As of June 30, 2025, the actual amount used for fundraising projects was approximately 496.15 million yuan, leaving a remaining balance of about 26.41 million yuan [2][3]. Investment Project Details - The company has made adjustments to several fundraising projects, including the cancellation of some projects and the reallocation of funds to others, such as the raw material drug phase II project and the development of anti-tumor drugs [2][3]. - The company has also permanently supplemented working capital with surplus funds from completed projects, ensuring ongoing operational support [3][4]. Delay Reasons and Measures - The delay in the raw material drug phase II project is attributed to the need for further technical improvements, with the first phase of construction completed and the second phase still in progress [4]. - The company plans to adhere to regulatory requirements and optimize resource allocation to ensure timely completion of the projects despite the delays [4][5]. Approval Process - The board of directors and the supervisory board of the company approved the delay in the project timeline on August 28, 2025, without requiring shareholder approval [5][6]. - The sponsor institution has confirmed that the decision complies with relevant regulations and does not alter the intended use of the raised funds or harm shareholder interests [5][6].

Core Viewpoint - The average stock price of A-shares is 13.44 yuan, with 36 stocks priced below 2 yuan, the lowest being *ST Gao Hong at 1.03 yuan [1] Group 1: Market Overview - As of August 29, the Shanghai Composite Index closed at 3857.93 points, with a relatively small proportion of high-priced and low-priced stocks in the A-share market [1] - Among the low-priced stocks, 36 are priced below 2 yuan, with 13 of them being ST stocks, accounting for 36.11% [1] Group 2: Stock Performance - In the low-priced stock category, 8 stocks increased in price today, with *ST Jinglan, ST Yigou, and *ST Yangguang leading the gains at 5.11%, 3.11%, and 2.16% respectively [1] - Conversely, 26 stocks declined, with *ST Suwu, *ST Gao Hong, and Qidi Environment showing the largest drops at 5.22%, 4.63%, and 2.50% respectively [1] Group 3: Low-Priced Stock Rankings - The table lists various low-priced stocks, including their latest closing prices, daily price changes, turnover rates, and industry classifications [1][2] - Notable stocks include *ST Gao Hong at 1.03 yuan, *ST Suwu at 1.09 yuan, and *ST Jinglan at 1.85 yuan, with varying daily performance and industry sectors [1][2]

Core Viewpoint - The recent surge in trading activity in the A-share market has led to speculative trading in risk-warning stocks, particularly *ST Suwu, which has shown significant price volatility and raised concerns about trading risks [2][3]. Group 1: Trading Activity and Speculation - The stock of *ST Suwu has experienced a significant increase, with a trading turnover rate of 20.93% on August 27, indicating abnormal trading behavior [3]. - The stock has seen a cumulative price increase of over 12% within two trading days, triggering alerts for abnormal trading fluctuations [3]. - Similar speculative trading behavior has been observed in *ST Guandao, which reported a cumulative price increase of 42.14% over two trading days [4]. Group 2: Regulatory Actions and Risks - *ST Suwu has been under scrutiny from the China Securities Regulatory Commission (CSRC) for falsifying financial statements, which could lead to forced delisting [3][5]. - The company faces multiple risks, including significant fund occupation by its controlling shareholder and the freezing of all shares held by the controlling shareholder [3]. - *ST Guandao has also received a notice from the CSRC regarding potential forced delisting due to major violations [5]. Group 3: Market Behavior and Investor Sentiment - The phenomenon of "炒小炒差" (speculating on small and poor-performing stocks) is re-emerging, with investors engaging in high-risk trading strategies [3][7]. - Investors are often misled by the low price of ST stocks, viewing them as opportunities without recognizing the underlying risks associated with their deteriorating fundamentals [8]. - The speculative nature of ST stocks has created a "game of passing the parcel," where risks are amplified, and many investors may end up as "bag holders" [7].

Core Viewpoint - The article highlights the resurgence of speculative trading in the A-share market, particularly focusing on the risks associated with "ST" stocks, which are often subject to manipulation and lack fundamental support [3][4][9]. Group 1: Market Activity - Recently, the A-share market has shown high activity, with trading volumes exceeding 30 trillion yuan over two consecutive days, leading to speculative trading in risk-warning stocks [3][4]. - *ST Suwu's stock price has seen a significant increase, with a trading turnover rate of 20.93% on August 27, indicating a speculative bubble [4][5]. Group 2: Regulatory Concerns - *ST Suwu received an administrative penalty notice from the China Securities Regulatory Commission (CSRC) for inflating revenue and profits, which could lead to forced delisting [5][6]. - *ST Guangdao also experienced abnormal trading, with a price increase of 42.14% over two days, prompting the company to halt trading for investigation [5][6]. Group 3: Risks of Speculative Trading - The article discusses the inherent risks of trading in ST stocks, including the potential for sudden delisting, liquidity issues, and poor information disclosure [9][10]. - Investors often misinterpret low prices as opportunities, ignoring the diminishing "shell value" of ST stocks due to regulatory reforms [10].