重要内容提示： 一、股票交易异常波动的具体情况 公司股票于 2026 年 1 月 30 日、2 月 2 日、2 月 3 日连续三个交易日内收盘价格跌幅偏 离值累计超过 12%，根据《上海证券交易所股票上市规则》的有关规定，属于股票交易异 常波动情形。 证券代码：600355 证券简称：*ST 精伦 公告编号：临 2026-005 精伦电子股份有限公司 股票交易异常波动公告 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。 经公司自查，未发现对公司股票交易价格可能产生重大影响的媒体报道或市场传闻。 （四）其他股价敏感信息 二、公司关注并核实的相关情况 针对公司股票异常波动情况，本公司对有关事项进行了核查，并书面函证了公司控股 股东及实际控制人，现将有关情况说明如下： （一）生产经营情况 经公司自查，本公司及控股子公司生产经营正常，市场环境或行业政策没有发生重大 变化，不存在应披露而未披露的重大信息。 （二）重大事项情况 经公司自查，并向公司控股股东及实际控制人－自然人股东张学阳先生（持股 60,000,000 股，占总股本 12. ...

格隆汇2月3日｜精伦电子公告称，公司股票于2026年1月30日、2月2日、2月3日连续三个交易日内收盘 价格跌幅偏离值累计超12%，属异常波动。经自查，公司及子公司生产经营正常，控股股东及实控人张 学阳（持股6000万股，占比12.19%）确认无应披露未披露重大信息。公司预计2025年度净利润为负， 扣非后营收低于3亿元，年报披露后股票将被终止上市，提醒投资者注意风险。 ...

Core Insights - The article discusses the performance of ST stocks in the Chinese capital market, highlighting a significant number of companies facing delisting risks due to poor financial results [2][3]. Group 1: Performance of ST Stocks - As of February 2, 178 ST stocks were under risk warnings, with 176 having released earnings forecasts, indicating a trend of companies struggling to meet performance expectations [2][3]. - Only 24% of ST stocks reported improved performance, with 118 continuing to incur losses, while 93 stocks under delisting risk showed that 58 were expected to continue losing money [3][4]. Group 2: Major Losses and Financial Indicators - ST晨鸣 (000488.SZ) is projected to incur the largest loss, estimated between 8.2 billion to 8.8 billion yuan, marking its third consecutive year of losses totaling 16.9 billion yuan [3][4]. - ST柯利达 (603828.SH) anticipates a net loss of 160 million to 200 million yuan, a drastic decline of 1964.13% to 2430.16% compared to the previous year [4]. Group 3: Delisting Risks - Companies like *ST岩石 and *ST精伦 are at risk of delisting due to failing to meet financial criteria, with *ST岩石 expected to have an operating income below 300 million yuan [5][6]. - Several ST stocks are likely to receive non-standard audit opinions, which could further jeopardize their listing status, such as *ST观典 and *ST太和 [5][6]. Group 4: Recovery Efforts - Some ST stocks are attempting to turn around their fortunes through restructuring and asset sales, with *ST金科 (000656.SZ) projecting a net profit of 30 billion to 35 billion yuan for 2025 after a significant debt restructuring [7][8]. - *ST松发 is also expected to achieve a net profit of 2.4 billion to 2.7 billion yuan, following a major asset restructuring that shifted its business focus [8][9].

Core Viewpoint - The article discusses the performance of risk warning stocks in the market, highlighting that a significant number of these stocks are facing delisting risks due to poor financial results and the implementation of stricter delisting regulations [3][5]. Group 1: Performance of Risk Warning Stocks - As of February 2, 2026, out of 178 risk warning stocks, 176 have released performance forecasts, with only 24% of ST stocks showing positive performance [4][7]. - Among the 93 stocks under delisting risk, 58 are expected to continue losing money, accounting for 69% of the group [7]. - ST晨鸣 (000488.SZ) is projected to incur a loss of between 8.2 billion to 8.8 billion yuan, marking its third consecutive year of losses totaling 16.9 billion yuan [7][8]. Group 2: Companies Facing Delisting Risks - Companies like *ST岩石 and *ST精伦 are expected to report negative net profits and insufficient revenue, leading to potential delisting [10]. - Some companies are already facing non-standard audit opinions, indicating further risks of delisting, such as *ST观典 and *ST太和 [11]. Group 3: Companies on the Path to Recovery - Certain ST stocks are attempting to turn around their fortunes through restructuring and asset sales, such as *ST金科, which is expected to report a net profit of 30 billion to 35 billion yuan after a successful restructuring [13]. - *ST松发 is projected to achieve a net profit of 2.4 billion to 2.7 billion yuan, following a significant asset restructuring that shifted its business focus [14].

Core Insights - The article highlights the significant number of companies facing delisting risks due to poor financial performance, with only 24% of ST stocks showing positive results [1][2] - A total of 178 ST stocks were analyzed, with 118 continuing to incur losses, indicating a concerning trend in the market [2][3] Group 1: Financial Performance of ST Stocks - Among the 178 ST stocks, 118 reported continued losses, while only 33 managed to turn a profit, and 12 reported first-time losses [2] - The largest projected loss comes from ST Chenming, with an estimated loss of 8.2 billion to 8.8 billion yuan, marking its third consecutive year of losses totaling 16.9 billion yuan [2][3] - ST Keli Da expects a net loss of 160 million to 200 million yuan for 2025, a drastic decline of 1964.13% to 2430.16% compared to the previous year [3] Group 2: Delisting Risks - Several companies, including ST Yanshi and ST Jinglun, have triggered financial delisting indicators, with ST Yanshi expected to have an operating income below 300 million yuan for 2025 [4] - ST Jinglun anticipates a negative net profit for 2025, with its stock facing potential delisting risks due to financial performance [4][5] - Audit firms have indicated that some ST stocks may receive non-standard audit opinions, further increasing delisting risks [4] Group 3: Recovery Efforts - Some ST stocks are attempting to recover through restructuring and asset sales, with ST Jinke projecting a turnaround with a net profit of 30 billion to 35 billion yuan for 2025 after completing a restructuring plan [6] - ST Songfa expects a net profit of 2.4 billion to 2.7 billion yuan for 2025, following a significant asset restructuring that shifted its business focus [6][7] - ST Weir has also seen positive impacts on its performance through strategic asset acquisitions and divestitures, projecting a net profit of 19 million to 22 million yuan [7]

Core Viewpoint - The A-share market is facing heightened delisting risks as multiple companies are expected to report negative net assets and other financial indicators, leading to potential "ST" (Special Treatment) designations and delisting warnings [1][2]. Group 1: Companies Facing Delisting Risks - Several companies, including Chunxing Precision Mechanical and Yihualu, have announced potential delisting risks due to expected negative net assets by the end of 2025 [1]. - Tianjian Technology is projected to report a total profit loss of between 170 million to 240 million yuan and a net profit loss of 176 million to 250 million yuan for 2025, which may trigger delisting warnings [2]. Group 2: Specific ST Companies at Risk - *ST Jinglun and *ST Yanshi are confirmed to have triggered financial delisting indicators and may face termination of listing after the 2025 annual report [2]. - *ST Haihua's delisting risk is linked to the resignation of its auditing firm, which introduces significant uncertainty regarding its annual audit [3]. Group 3: Non-standard Audit Opinions - *ST Panda has been issued non-standard audit opinions for its 2024 financial report, which may lead to delisting if unresolved issues persist [3]. - *ST Guandian is also facing potential non-standard audit opinions, with its independent directors urging for enhanced audit procedures to ensure compliance [3]. Group 4: Market Implications - The normalization of the delisting mechanism is seen as a positive step towards improving the overall quality of listed companies by removing those with poor asset quality [4]. - Investors are advised to be cautious of delisting risks and to avoid high-risk stocks such as those designated as *ST without thorough understanding [4].

Core Insights - A number of *ST companies are at risk of delisting due to failing to meet financial performance indicators for 2025, with four companies expected to fall below the thresholds for revenue and net profit [1][2][4] Group 1: Companies at Risk of Delisting - Four *ST companies, including *ST Jinglun, *ST Yanshi, *ST Wanfa, and *ST Guohua, are projected to have operating revenue below 300 million yuan and negative net profit, triggering delisting indicators [1][2] - *ST Jinglun anticipates a net profit loss of 39.5 million to 45.5 million yuan for 2025, with adjusted revenue expected to be around 86 million yuan [2] - *ST Guohua expects a net profit loss between 20 million to 40 million yuan, with adjusted revenue ranging from 197 million to 296 million yuan [3] Group 2: Financial Indicators and Audit Opinions - The delisting criteria are primarily based on a combination of net profit and revenue, with the four companies failing to meet the "negative net profit + revenue below 300 million yuan" criteria [2][3] - *ST Wanfa and *ST Yanshi are also facing dual delisting risks due to negative financial indicators and potential non-standard audit opinions for their 2024 financial statements [3][6] Group 3: Market Reactions and Regulatory Environment - The recent delisting risks reflect a market-oriented and legal reform in the delisting system, emphasizing the need for companies to focus on core operations and improve quality [1][4] - There is a growing concern regarding companies that barely meet financial thresholds but may still face audit uncertainties, indicating high delisting risks [5][6] - The presence of non-standard audit opinions has become a significant delisting "red line," indicating deeper issues such as financial misrepresentation and internal control failures [6][7]

Core Viewpoint - A number of *ST companies are at risk of delisting due to failing to meet financial performance indicators, reflecting the effectiveness of the new delisting regulations aimed at eliminating "shell companies" and promoting resource allocation to quality enterprises [1][4]. Group 1: Companies at Risk of Delisting - Four *ST companies, including *ST Jinglun, *ST Yanshi, *ST Wanfa, and *ST Guohua, have disclosed that they expect to fall below the financial delisting indicators, with projected operating revenue below 300 million yuan and negative net profits [1][2]. - *ST Jinglun anticipates a net profit of -39.5 million to -45.5 million yuan for 2025, with operating revenue expected to be 338 million yuan, but only 86 million yuan after adjustments [2]. - *ST Guohua expects a net profit of -40 million to -20 million yuan, with adjusted operating revenue between 197 million and 296 million yuan [3]. Group 2: Financial Indicators and Audit Opinions - *ST Wanfa and *ST Yanshi are facing dual delisting indicators due to negative profits and revenues below 300 million yuan, along with the risk of receiving non-standard audit opinions for their 2024 financial statements [3][5]. - Non-standard audit opinions have become a significant delisting "red line," indicating potential financial misrepresentation and internal control failures [6][7]. Group 3: Market Reactions and Investor Behavior - There has been irrational market speculation on stocks with clear delisting risks, such as *ST Yanshi, which saw its stock price surge despite the disclosed risks [8]. - Investors are advised to avoid speculative trading in stocks with delisting risks, as the new regulations make it increasingly difficult for companies to maintain their listings [8].

2月2日，*ST精伦大宗交易成交390.14万股，成交额694.45万元，占当日总成交额的56.6%，成交价1.78元，较市场收盘价1.78元持平。 | 交易日期 | 证券简称 | 证券代码 | 成交价(元) | 成交金额(万元) | 成交量( *) | 买入营业部 | | 卖出营业部 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 2026-02-02 | *ST精伦 | 600355 | 1.78 | 89 | 50 | | | | | 2026-02-02 | *ST精伦 | ୧୦୦352 | 1.78 | 89 | 50 | | | | | 2026-02-02 | *ST精伦 | ୧୦୦352 | 1.78 | 88.98 | 49.99 | | | | | 2026-02-02 | *ST精伦 | 600355 | 1.78 | 88.98 | 49.99 | | 自限 | 半名以及言 | | 2026-02-02 | *ST精伦 | ୧୦୦355 | 1.78 | 88.95 | 49.97 | | | | | 2026-0 ...

Core Viewpoint - A number of listed companies are raising alarms about delisting risks as they release their performance forecasts for 2025, with several *ST companies explicitly warning investors about potential delisting due to financial indicators [1][2]. Group 1: Financial Performance and Delisting Risks - Several *ST companies, including *ST Guandian, *ST Yanshi, *ST Jinglun, and *ST Chuntian, have issued warnings about delisting risks, with *ST Yanshi and *ST Jinglun already meeting financial delisting criteria [1][2]. - The new delisting regulations have tightened financial delisting indicators, raising the revenue threshold for main board loss-making companies from 10 million to 30 million [2]. - *ST Yanshi is projected to have revenues between 48 million to 60 million and a net loss of 180 million to 250 million for 2025, indicating a significant deterioration in its operating conditions [2][3]. Group 2: Audit Opinions and Compliance Issues - Non-standard audit opinions often indicate issues such as misstatements in financial reports or severe doubts about the company's ability to continue as a going concern [3][6]. - Companies like *ST Chun Tian and *ST Mu Bang are facing dual delisting risks due to both financial indicators and non-standard audit opinions, with their auditors unable to confirm whether their adjusted revenues will exceed 30 million [4][6]. - *ST Panda is also at risk of delisting due to unresolved non-standard audit opinion issues, which could lead to further complications if sufficient audit evidence is not obtained [3][4]. Group 3: Revenue Recognition and Financial Manipulation - Some companies are attempting to manipulate financial data to meet delisting thresholds, with *ST Taihe and *ST Chuangxing expected to barely exceed the 30 million revenue mark while reporting net losses [7][8]. - The revenue for these companies is heavily concentrated in the fourth quarter of 2025, raising suspicions of potential revenue recognition manipulation to avoid delisting [7][8]. - *ST Haihua is also under scrutiny, with projected revenues around 336 million and net losses, compounded by the resignation of its auditor without a special report [8]. Group 4: Regulatory Environment and Enforcement - Regulatory authorities maintain a strict stance against various "shell company" behaviors, emphasizing a "zero tolerance" policy towards fraudulent financial reporting [8]. - *ST Changyao faced investigation for alleged false financial reporting, leading to significant penalties and potential delisting [8][9].