Core Viewpoint - The pace of delisting in A-shares has significantly accelerated in the past month, reflecting a more stringent market mechanism for eliminating underperforming companies and enhancing overall quality [1][6]. Group 1: Delisting Statistics - As of August 4, 2023, a total of 23 A-share companies have been delisted this year, with 10 of those occurring in the last month, accounting for over 40% of the total [1][2]. - The reasons for delisting include major violations and financial issues, with a notable decrease in the number of companies delisted for face value reasons compared to the previous year [4][5]. Group 2: Reasons for Delisting - Companies such as退市锦港 (Jin Gang) were delisted due to major violations related to financial fraud, including inflated profits through false trade activities [2][3]. - Other companies like中程退 (Zhong Cheng) and退市九有 (Jiu You) were delisted for failing to meet financial standards, with negative net assets and adverse audit opinions on their financial reports [2][3]. Group 3: Regulatory Changes - New regulations implemented in April 2023 have made it more difficult for companies to reverse delisting warnings, leading to a more rigorous enforcement of delisting standards [5][6]. - The trend towards a normalized delisting mechanism aligns with the "14th Five-Year Plan" for capital market development, emphasizing timely removal of underperforming companies [6]. Group 4: Future Outlook - Experts suggest that the delisting system needs continuous optimization, including clearer processes and enhanced regulatory oversight to protect investors and ensure compliance [6][7].

New Stock Issuance - Multiple companies are scheduled for new stock issuance on July 24, 2025, including *ST Zitian (300280) and ST Nanzhi (002305) [1] - Significant announcements were made for companies like Guosheng Tang (300436) and Huayin Power (600744) on July 17 and July 15, respectively [1] Trading Alerts - Companies such as Gaoguan Min Explosive (002827) and Zhongyan Dadi (003001) have recent trading alerts as of July 24, 2025 [1] - A total of 50 companies have been flagged for abnormal trading fluctuations, indicating potential market volatility [2] Market Trends - The report highlights a trend of increased market activity with numerous companies announcing significant changes in stock status [1] - The presence of multiple *ST (Special Treatment) companies suggests heightened scrutiny and potential risk for investors [1] Regulatory Compliance - Companies are required to disclose significant announcements to ensure transparency in trading activities [1] - The report emphasizes the importance of monitoring announcements to assess market conditions and investment risks [1]

Group 1: Core Issues of Financial Misconduct - Four listed companies, including *ST Yuan Cheng,退市九有, ST Zhi Zhi, and ST Zhong Qing Bao, are under investigation or have been penalized for financial fraud and disclosure violations, involving tactics such as profit inflation and concealing related party transactions [1][2][3] - *ST Yuan Cheng is being investigated for false disclosures in its annual reports from 2017 to 2023, with significant inaccuracies in revenue and profit reporting, and failure to disclose non-operational fund transactions with its actual controller [2] -退市九有's fraudulent activities included a significant profit inflation of 6397.32 million yuan in 2020, which was 471.03% of the reported profit, achieved through undisclosed related party transactions [3][4] Group 2: Specific Cases of Financial Fraud -退市九有 engaged in continuous financial fraud from 2021 to 2023, with a total of 3.59 billion yuan in inflated revenue and 3435.92 million yuan in inflated profits, involving multiple subsidiaries and key executives [4] - ST Zhi Zhi's subsidiaries were found to have fabricated business activities, leading to distorted financial data over three consecutive years from 2019 to 2021 [5] - ST Zhong Qing Bao's fraudulent practices included "circular transactions" that inflated revenue by 3361.32 million yuan in 2019, 2809.43 million yuan in 2020, and 1787.83 million yuan in 2021, along with delayed disclosure of the actual controller's criminal measures [6][7]

Summary of Key Points Core Viewpoint - The average stock price of A-shares is 12.00 yuan, with 43 stocks priced below 2 yuan, the lowest being *退市九有* at 0.21 yuan [1]. Stock Price Distribution - As of July 16, the Shanghai Composite Index closed at 3503.78 points, with a total of 43 stocks trading below 2 yuan [1]. - Among the low-priced stocks, 12 are ST stocks, accounting for 27.91% of the total [1]. Market Performance - Out of the low-priced stocks, 16 saw an increase in price, with *退市锦港* leading at a rise of 10.91% [1]. - Conversely, 17 stocks experienced a decline, with *ST天茂* showing the largest drop at 4.98% [1]. Low-Priced Stock Rankings - The table lists various low-priced stocks, including their latest closing prices, daily price changes, turnover rates, price-to-book ratios, and industries [1][2]. - Notable stocks include: - *退市九有* at 0.21 yuan with a price-to-book ratio of 3.49 [1]. - *退市锦港* at 0.61 yuan with a daily increase of 10.91% [1]. - *ST天茂* at 1.91 yuan with a daily decrease of 4.98% [2].

根据《股票上市规则》第 9.1.15 条的规定，公司应当聘请具有主办券商业 务资格的证券公司，在上交所作出终止股票上市决定后立即安排股票转入全国中 小企业股份转让系统等证券交易场所进行股份转让相关事宜，保证公司股票在摘 牌之日起 45 个交易日内可以转让。 按照上述规定，公司已聘请长城国瑞证券有限公司为公司主办券商，委托 其为公司提供股份转让服务，办理证券交易所市场登记结算系统股份退出登记、 办理股票重新确认以及全国中小企业股份转让系统股份登记结算等相关事宜。 二、主办券商基本情况 （一）公司名称：长城国瑞证券有限公司 证券代码：600462 证券简称：退市九有 公告编号：临2025-058 湖北九有投资股份有限公司 关于聘请主办券商的公告 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。 一、聘请主办券商的情况说明 湖北九有投资股份有限公司（以下简称"公司 "）于 2025 年 6 月16日收到 上海证券交易所出具的自律监管决定书《关于湖北九有投资股份有限公司股票终 止上市的决定》（〔2025〕131号），上海证券交易所决定终 ...

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 因公司于 2025 年 6 月 16 日收到上海证券交易所《关于湖北九有投资股份有限公司股 票终止上市的决定》，上海证券交易所决定终止公司股票上市，现已结束退市整理期，自 2025 年 7 月 15 日起连续停牌 ,本公司的相关证券停复牌情况如下： 停牌期 证券代码 证券简称 停复牌类型 停牌起始日 停牌终止日 复牌 日 证券代码：600462 证券简称：退市九有 公告编号：临 2025-056 湖北九有投资股份有限公司 间 ●公司终止上市适用退市整理期的情形,退市整理期最后交易日为 2025 年 7 月 14 日。 ●终止上市暨摘牌日为 2025 年 7 月 21 日。 ●是否进入退市板块挂牌：是。 ●公司股票终止上市后，将转入全国中小企业股份转让系统，依托证券公司代办股份 转让系统设立并代为管理的两网公司及退市公司板块挂牌转让。敬请广大投资者关注证券 公司后续披露在全国中小企业股份转让系统 （https://www.neeq.com. ...

证券代码：600462 证券简称：退市九有 公告编号：临 2025-057 湖北九有投资股份有限公司 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个别及连带责任。 重要内容提示： ●湖北九有投资股份有限公司（以下简称"公司"）股票于 2025 年 7 月 10 日、 2025 年 7 月 11 日、2025 年 7 月 14 日连续三个交易日收盘价格涨幅偏离值累计达 到 20%以上，根据《上海证券交易所交易规则》的有关规定，属于股票交易异常波 动的情形。 一、股票交易异常波动的具体情况 公司股票于 2025 年 7 月 10 日、2025 年 7 月 11 日、2025 年 7 月 14 日连续三 个交易日收盘价格涨幅偏离值累计达到 20%以上，根据《上海证券交易所交易规则》 的有关规定，属于股票交易价格异常波动的情形。 二、公司关注并核实的相关情况 针对公司股票交易异常波动情况，公司对有关事项进行了核查，并询问了公司 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，公司目前生产经营 ...

证券代码：600462 证券简称：退市九有 公告编号：临 2025-056 湖北九有投资股份有限公司 关于股票终止上市暨摘牌的公告 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 因公司于 2025 年 6 月 16 日收到上海证券交易所《关于湖北九有投资股份有限公司股 票终止上市的决定》，上海证券交易所决定终止公司股票上市，现已结束退市整理期，自 2025 年 7 月 15 日起连续停牌 ,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 | 停牌终止日 | 复牌日 | | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | | 间 | | | | 600462 | 退市九有 | A | 股 停牌 | 2025/7/15 | | | | ●终止上市暨摘牌日为 2025 年 7 月 21 日。 ●公司终止上市适用退市整理期的情形,退市整理期最后交易日为 2025 年 ...

New Stock Issuance - Shanda Electric (Stock Code: 301609) issued at a price of 14.66[1] - Jiyuan Group (Stock Code: 732262) issued at a price of 10.88[1] Market Alerts - Jichuan Pharmaceutical (Stock Code: 600566) has a tender offer period from June 18, 2025, to July 17, 2025[1] - The last trading day for Tuisan Jinguang (Stock Code: 600190) is July 14, 2025, with 4 trading days remaining[1] - The last trading day for Tuisan Jinjing (Stock Code: 900952) is also July 14, 2025, with 4 trading days remaining[1] Abnormal Fluctuations - *ST Zitian (Stock Code: 300280) reported severe abnormal fluctuations on July 10, 2025[1] - *ST Yushun (Stock Code: 002289) reported abnormal fluctuations on July 11, 2025[1] Other Notable Announcements - Longyuan Green Energy (Stock Code: 603185) announced on July 11, 2025[1] - Kedi Pharmaceutical (Stock Code: 000590) announced on July 14, 2025[1]

股票代码：600462 股票简称：退市九有 公告编号：临2025-055 湖北九有投资股份有限公司 关于公司股票进入退市整理期交易的第七次风险 提示公告 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。 退市整理期届满后5个交易日内，上海证券交易所将对公司股票予以摘 牌，公司股票终止上市。 本公司股票将在退市整理期交易 15 个交易日，截至本公告日已交易 14个交易日，剩余1个交易日，交易期满将被终止上市，敬请投资者审慎投资注 意风险。 公司股票在退市整理期交易期间， 公司将不筹划或实施重大资产重组 事项。 公司提请广大投资者及托管券商等市场主体在股票终止上市暨摘牌前 及时了结股票质押式回购、约定购回、融资融券、转融通、沪股通等业务。 对于自股票终止上市暨摘牌后至进入退市板块办理股份登记、挂牌期 间到期的司法冻结业务，建议有权机关在股票终止上市日前通过原协助执行渠道 提前办理续冻手续。 2025年6月16日，公司收到上海证券交易所《关于湖北九有投资股份有限公司 股票终止上市的决定》([2025]131号)，上海证券交易所决 ...