Core Viewpoint - *ST Haiyue is set to delist from the A-share market due to ongoing financial and regulatory issues, marking a significant decline in its operational performance and compliance history [1][3][5]. Company Overview - *ST Haiyue, established in 1993 and listed in 2004, initially focused on oil storage, liquefied gas sales, and refined oil trading, later expanding into the new energy sector, including investments in lithium battery materials [5]. - The company has faced multiple regulatory challenges, including a recent decision by the Shanghai Stock Exchange to terminate its listing, with the last trading date expected to be July 4, 2025 [1][5]. Financial Performance - The company has experienced a dramatic decline in revenue, with total revenue dropping from 8.1 billion yuan in 2021 to less than 1.5 billion yuan in 2024, representing a cumulative decrease of over 80% [11]. - In 2024, *ST Haiyue reported revenue of 1.48 billion yuan, a year-on-year decrease of 30.32%, and a net loss of 300 million yuan, down 22.14% from the previous year [11]. - The first quarter of 2025 showed a slight revenue increase to 524 million yuan, a 12.75% year-on-year growth, but the company still reported a net loss of 14.08 million yuan, reflecting a 243.19% increase in losses compared to the same period in 2024 [12][13]. Regulatory Issues - The company has been under investigation for information disclosure violations, with the China Securities Regulatory Commission issuing a notice of investigation, marking the third time the company has faced regulatory scrutiny [3][10]. - Historical issues include significant fund misappropriation by the controlling shareholder, exceeding 1.2 billion yuan from 2021 to 2022, and failure to disclose non-operating related party transactions amounting to 1.98 billion yuan in 2020, which constituted 63.19% of the company's net assets at that time [9][10].

Core Viewpoint - *ST Haiyue's stock will be delisted from the Shanghai Stock Exchange due to violations related to undisclosed non-operating fund occupation by its controlling shareholder and false reporting in financial statements [1][2]. Group 1: Delisting Announcement - The Shanghai Stock Exchange decided to terminate *ST Haiyue's stock listing, with the delisting effective from June 16, 2025, and the last trading day expected to be July 4, 2025 [1]. - The delisting period will last for 15 trading days, during which the stock will continue to trade on the risk warning board [1]. Group 2: Regulatory Violations - *ST Haiyue and its controlling shareholder were penalized by the Zhejiang Securities Regulatory Bureau for failing to disclose non-operating fund occupation and for false records in the 2022 semi-annual report [1][2]. - From 2021 to 2022, *ST Haiyue transferred funds to its controlling shareholder through prepayments to suppliers, amounting to 1.77 billion yuan in the first half of 2021, 3.77 billion yuan in 2021, and 6.88 billion yuan in 2022 [1][2]. Group 3: Financial Performance - For the fiscal year 2024, *ST Haiyue expects revenue between 1.5 billion yuan and 1.8 billion yuan, with a net loss attributable to the parent company estimated between 380 million yuan and 220 million yuan [2]. - The company's bulk trade business has declined due to the overall downturn in the traditional energy sector and risks associated with bulk trade operations [2]. - The price of lithium carbonate has decreased compared to the previous year, leading to inventory impairment provisions and asset impairment losses based on cautious principles [2].

Core Points - The company, Haiyue Energy Group Co., Ltd., has entered a delisting transition period, with trading starting on June 16, 2025, and the expected last trading date being July 4, 2025 [2][3] - The stock will be traded under the name "Delisted Haiyue" during this period, with no price fluctuation limits on the first trading day and a subsequent limit of 10% per day [3][4] - After the delisting transition period, the Shanghai Stock Exchange will delist the company's stock within five trading days [2][4] Trading and Regulatory Details - The delisting transition period will last for 15 trading days, with no trading days counted as of the announcement date [2][3] - The company will not plan or implement any major asset restructuring during the delisting transition period [5] - Individual investors must have at least 24 months of trading experience and maintain an average asset balance of over 500,000 RMB in their accounts to buy delisted transition stocks [4][5] Investor Guidance - The company advises investors and custodial brokers to settle stock pledge repurchase, agreed repurchase, margin trading, and other related businesses before the stock is delisted [5] - The company will issue risk warning announcements regarding the delisting decision at specified intervals during the transition period [4][5]

证券代码：600387 证券简称：*ST 海越 公告编号：2025-038 海越能源集团股份有限公司 关于公司股票进入退市整理期交易的公告 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。 重要内容提示： 证券停复牌情况：适用 因终止上市进入退市整理期,本公司的相关证券停复牌情况如下： | 证券代码 | 证券简称 | | 停复牌类型 | | 停牌起始日 | 停牌 期间 | 停牌终止日 | 复牌日 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 600387 | *ST | 海越 | A 股 | 复牌 | | | 2025/6/13 | 2025/6/16 | 退市整理期交易起始日为2025 年 6 月 16 日；预计最后交易日期为 2025 年 7 月 4 日。 海越能源集团股份有限公司（以下简称"公司"）于 2025 年 6 月 6 日收到上 海证券交易所《关于海越能源集团股份有限公司股票终止上市的决定》([2025]130 号)，上海证券交易所决定终止公 ...

股票代码：600387 股票简称：*ST 海越 公告编号：2025-037 海越能源集团股份有限公司 关于收到股票终止上市决定的公告 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个别及连带责任。 重要内容提示： ●终止上市的证券种类：人民币普通股；证券简称：*ST 海越；证券代码： 600387 ●公司股票进入退市整理期的起始日为 2025 年 6 月 16 日；预计最后交易日期 为 2025 年 7 月 4 日。 ●退市整理期的交易期限为 15 个交易日。 ●退市整理期间股票继续在风险警示板交易。 海越能源集团股份有限公司（以下简称"公司"）于2025年6月6日收到上海证 券交易所《关于海越能源集团股份有限公司股票终止上市的决定》([2025]130号)， 上海证券交易所决定终止公司股票上市。 （一）证券种类：人民币普通股 （二）证券简称：*ST海越 （三）证券代码：600387 二、终止上市决定的主要内容 "因2023年度财务会计报告被出具无法表示意见的审计报告，你公司股票自 2024年4月23日起被实施退市风险警示。2025年4 ...

股票代码：600387 股票简称：*ST 海越 公告编号：2025-039 海越能源集团股份有限公司 关于收到中国证券监督管理委员会立案告知书的公告 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个别及连带责任。 公司将积极配合中国证券监督管理委员会立案调查工作，并严格按照法律法 规的相关规定，及时做好信息披露工作。 公司指定信息披露媒体为《中国证券报》《上海证券报》《证券时报》和上海 证券交易所网站(www.sse.com.cn)，有关信息请以上述指定媒体刊登的信息为准。 敬请广大投资者关注公司公告，注意投资风险。 特此公告。 海越能源集团股份有限公司董事会 二〇二五年六月七日 海越能源集团股份有限公司（以下简称"公司"）于 2025 年 6 月 6 日收到中 国证券监督管理委员会下发的《立案告知书》（编号：证监立案字 01120250017 号）。因涉嫌信息披露违法违规，根据《中华人民共和国证券法》《中华人民共和 国行政处罚法》等法律法规，中国证券监督管理委员会决定对公司立案。 ...

Core Viewpoint - The Shanghai Stock Exchange has decided to terminate the listing of *ST Haiyue's shares, with the last trading date expected to be July 4, 2025 [1] Summary by Relevant Sections - **Company Announcement** - *ST Haiyue announced that the Shanghai Stock Exchange has made a decision to terminate the company's stock listing [1] - The start date for the delisting process is set for June 16, 2025 [1] - **Trading Timeline** - The anticipated final trading date for *ST Haiyue's shares is July 4, 2025 [1]

Core Viewpoint - *ST Haiyue has been investigated by the China Securities Regulatory Commission (CSRC) for suspected violations of information disclosure regulations, leading to a formal case being opened against the company [1] Group 1 - The company received a notice from the CSRC on June 6, 2025, regarding the investigation [1] - The investigation is focused on allegations of illegal and irregular information disclosure practices by the company [1]

Summary of Key Points Core Insights - The report highlights the recent stock listings and trading suspensions of various companies, indicating a dynamic market environment with significant corporate actions taking place [1][2][3]. Company Listings - Haiyang Technology (603382) is scheduled for online subscription on June 3, 2025 [1]. - Several companies, including ST Zhongjia (000889) and ST Zhongli (002309), have announced trading suspensions due to risk warnings and other corporate announcements [1]. Trading Suspensions - A number of companies are facing trading suspensions due to various reasons, such as inability to disclose periodic reports and potential delisting risks. For instance, ST Gongzhi (000584) and ST Hengli (000622) are among those affected [1][2]. - Companies like Tianmao Group (000627) and Luoping Zinc Electric (002114) are also under suspension due to control change plans [1][2]. Special Trading Actions - Certain ETFs, including Invesco S&P Consumer Select ETF (159529) and Guotai S&P 500 ETF (159612), have been temporarily suspended to protect investor interests [1]. - The report notes that multiple bonds and financial instruments have also been suspended, reflecting broader market conditions and issuer-specific challenges [2][3]. Market Dynamics - The report indicates a trend of increased corporate restructuring and control changes, with several companies planning significant asset reorganizations or facing potential delisting [1][2]. - The overall market environment appears to be influenced by regulatory actions and corporate governance issues, leading to heightened volatility in stock and bond markets [1][2][3].

Summary of Key Points Core Insights - The report highlights the recent market activities, including the listing of new companies and the suspension of several stocks due to various reasons such as dividend announcements and potential delisting risks [1][2][3]. Company and Industry Analysis - The report notes the listing of N Guqi (001390) on May 29, 2025, indicating a new entry into the market [1]. - Several ETFs, including the Guotai Zhongzheng Hong Kong Stock Connect High Dividend Investment ETF (159331), Invesco Great Wall S&P Consumer Select ETF (159529), and Guotai S&P 500 ETF (159612), were suspended for trading due to dividend announcements and investor protection measures [1]. - Stocks such as *ST Gongzhi (000584) and *ST Hengli (000622) are highlighted for their potential delisting risks due to failure to disclose periodic reports within the legal timeframe [1]. - The report mentions that companies like Tianmao Group (000627) and Luoping Zinc Electric (002114) are undergoing significant changes, leading to their stock suspensions [1][2]. - The report also lists various bonds and securities that have been suspended, indicating a broader trend of market adjustments and regulatory compliance [3][4][5].