Core Viewpoint - *ST Dongfang (600811) has received a termination of listing decision from the Shanghai Stock Exchange, with its stock set to be delisted on April 30, 2025, due to a continuous closing price below 1 yuan for 20 trading days [1][2]. Company Summary - *ST Dongfang, officially known as Dongfang Group Co., Ltd., was established in 1992 and is recognized as the first private enterprise in Heilongjiang Province to publicly issue and list stocks. It is also one of the earliest private enterprises in China to undergo shareholding reform and obtain a listing [3]. - The company operates in four major sectors: modern agriculture and health food, finance, port transportation, and new urbanization development [3]. Industry Context - Recently, several companies in the A-share market have faced delisting due to their stock prices falling below 1 yuan. This includes *ST Xulan, *ST Jiayu, *ST Dongfang, *ST Furun, and *ST Jiyao, all of which have triggered the delisting conditions by having closing prices below 1 yuan for 20 consecutive trading days [3]. - Prior to *ST Dongfang, *ST Jiayu received a termination of listing decision from the Shenzhen Stock Exchange on April 25, 2025, for similar reasons [3]. - Other companies, such as *ST Pengbo, have also seen their stock prices drop below 1 yuan, with the latest price reported at 0.65 yuan per share after 9 consecutive trading days below the threshold [3].

Group 1 - The core point of the news is that *ST Oriental (600811.SH) has been decided to be delisted by the Shanghai Stock Exchange due to serious financial misconduct, with the delisting date set for April 30, 2025 [1] - The company inflated its revenue by a total of 16.13 billion yuan and its costs by 16.073 billion yuan from 2020 to 2023, which accounted for 13.56% to 50.44% of its revenue during those periods [1] - The company has reported significant losses over the years, with net profits of -1.719 billion yuan, -996 million yuan, and -1.557 billion yuan from 2021 to 2023, totaling over 4.2 billion yuan in losses, and an expected loss of 800 million to 1.2 billion yuan in 2024 [1] Group 2 - On March 16, 2023, *ST Oriental was subjected to a major illegal forced delisting, leading to a continuous drop in stock prices after resumption of trading [2] - The chairman Zhang Hongwei was fined 10 million yuan and banned for life from the securities market, while seven other responsible individuals were fined a total of 29 million yuan [2] - As of September 30, 2022, nearly 130,000 shareholders were affected by the company's financial issues [2] Group 3 - Wu Xiaoqiu, a prominent figure in China's financial research, emphasized the need for *ST Oriental to serve as a cautionary case similar to the Enron scandal in the U.S., advocating for severe penalties against the company [4] - He called for the company to face extreme financial penalties and imprisonment for those responsible, highlighting the importance of accountability in the market [4]

证券代码：600811 证券简称：*ST 东方 公告编号：临 2025-060 东方集团股份有限公司 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 东方集团股份有限公司（以下简称"公司"）股票自 2025 年 3 月 14 日至 4 月 14 日连续 20 个交易日每日收盘价均低于人民币 1 元，根据《上海证券交易所股票上市规 则》第 9.2.1 条第一款第（一）项的规定，已触及交易类强制退市情形。公司于 2025 年 4 月 28 日收到上海证券交易所（以下简称"上交所"）《关于东方集团股份有限公司 股票终止上市的决定》（﹝2025﹞101 号），上交所决定终止公司股票上市。 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。根据前述规定，公司聘请江海证券有限公司作为公 ...

Core Viewpoint - The organic agriculture sector is emerging as a sustainable development engine in response to the challenges posed by traditional agriculture, which relies heavily on chemical inputs, leading to environmental degradation and food safety concerns [1][14]. Industry Overview - Organic agriculture refers to farming practices that avoid synthetic fertilizers, pesticides, and other artificial additives, relying instead on organic fertilizers and sustainable agricultural techniques [3]. - The development of organic agriculture addresses issues such as soil erosion, pollution from chemical use, and loss of biodiversity, while also enhancing farmers' income and rural economic development [3]. Market Size and Growth - The market size of China's organic agriculture industry has been growing steadily, reaching 104.6 billion yuan in 2023, a year-on-year increase of 1.55%, with projections for 2024 to reach approximately 106.2 billion yuan [1][14]. - The organic fertilizer market is also expanding rapidly, with a market size of 141.39 billion yuan in 2023, expected to grow to around 150 billion yuan by 2025 [10]. Government Support and Policies - The Chinese government has been actively promoting organic agriculture through various supportive policies, including the establishment of organic product standards and the encouragement of modern agricultural practices [6][7]. - Recent policies aim to enhance the development of organic agriculture, including the promotion of smart management technologies and the establishment of organic product identification systems [6][7]. Competitive Landscape - The organic agriculture market in China is characterized by a fragmented structure, with many small and specialized companies rather than large integrated enterprises [16]. - Key players in the industry include companies like Guangdong Jinhui An Ecological Agriculture Development Co., Ltd., Mingkanghui Ecological Agriculture Group Co., Ltd., and Heilongjiang Beidahuang Agricultural Co., Ltd., which are focusing on various aspects of organic agriculture [17][19]. Trends in Organic Agriculture - There is a growing demand for organic agriculture driven by increasing consumer awareness of food safety and health [21]. - Sales channels for organic products are diversifying, with e-commerce and community group buying becoming significant avenues for distribution [22]. - Brand building is becoming increasingly important as companies focus on quality and marketing to enhance their market presence and consumer trust [23][24].

（图源：龙江银行公众号） 消费日报网讯（记者卢岳）东方集团因财务造假退市，多家金融机构踩雷，其中龙江银行踩雷涉及的金额不菲。 据披露，截止1月20日，东方集团及其子公司累计新增诉讼涉及金额17.53亿，其中龙江银行两支行涉及金额共约10.19亿，案由均为借款合同纠纷。另截止4 月9日，该行另一支行向"东方系"追债4.65亿。也就是说，龙江银行至少有近15亿贷款尚未收回。 2021年至2023年，龙江银行净利润总和不足20亿。其中，后两年净利润合计不到13亿。在不良贷款偏离度超330%的情况下，龙江银行2023年末不良贷款率 仍达3%以上。若"东方系"借款收回遇阻，龙江银行资产质量或恶化，并进一步"侵蚀"利润。 此外，龙江银行最大单家非同业集团风险暴露超标客户2023年末逾期贷款余额73亿，相关业务已逾期超过90天却只计入关注类。且该行持有的信托产品和资 产管理计划（母公司口径）中，逾期资产余额达130亿。 "东方系"近15亿借款恐成坏账？ 因"财务造假"，东方集团走向退市。4月14日，东方集团发布公告称，收到上海证券交易所下发的《关于拟终止东方集团股份有限公司股票上市的事先告知 书》。据悉，公司股票已连续20 ...

按最新收盘价计算，A股均价为11.18元，不足2元的个股共有66只，股价最低的是*ST吉药，最新收盘 价为0.21元。 （文章来源：证券时报网） 证券时报·数据宝统计显示，截至4月24日收盘，沪指报收3297.29点，A股平均股价为11.18元，从个股股 价分布看，高价股及低价股数量在A股市场总体占比相对较少。 低价股中，股价低于2元的共有66只，最低的是*ST吉药，最新收盘价为0.21元，其次是*ST东方、*ST 富润，最新收盘价分别为0.36元、0.42元。特征来看，股价低于2元个股中，共有23只ST股上榜，占比 为34.85%。 市场表现方面，上述低价股中，今日上涨的有7只，涨幅居前的有ST德豪、新华联、*ST阳光，分别上 涨5.20%、1.68%、1.36%。下跌的有48只，跌幅居前的有*ST中程、宝鹰股份、*ST鹏博，跌幅分别为 10.64%、10.19%、5.26%。（数据宝） 低价股排名 | 代码 | 简称 | 最新收盘价（元） | 日涨跌幅（%） | 日换手率（%） | 市净率（倍） | 行业 | | --- | --- | --- | --- | --- | --- | --- | | 30 ...

Core Viewpoint - Dongfang Group, once a star enterprise in the capital market, is facing delisting due to continuous stock price decline and regulatory violations, leading to significant investor losses [4][7][12]. Company Overview - Dongfang Group was the first private enterprise in Heilongjiang Province to publicly issue and list stocks, and it was among the earliest to implement shareholding reform in China [4]. - The company has a diverse business portfolio, including modern agriculture, health food, oil and gas, new energy, information security, finance, resource management, port transportation, and new urbanization development [4]. - It ranked 81st, 90th, and 84th in the China Private Enterprises 500 from 2020 to 2022, and 33rd in the China Service Industry Private Enterprises 100 in 2021 [4]. Financial Performance - As of the last trading day, Dongfang Group's market capitalization was 1.317 billion [5][9]. - The company reported a loss of 292 million [5][9]. Regulatory Issues - In June 2024, Dongfang Group was investigated by the China Securities Regulatory Commission (CSRC) for information disclosure violations, leading to a series of penalties [7]. - The company was found to have false records in its annual reports from 2020 to 2023, triggering the delisting process after its stock price fell below 1 yuan per share [7]. Market Behavior - Despite the impending delisting, many investors continued to buy shares, hoping for a rebound, which led to a significant trading volume of 1.2 billion on March 12 [10]. - The stock experienced a series of 20 consecutive trading days below 1 yuan, culminating in its delisting [12]. Investor Sentiment - Many retail investors are still buying shares in hopes of entering the "old third board" market, despite the associated risks of low liquidity and potential further declines in stock value [12]. - The situation has drawn criticism, highlighting a lack of investor education regarding the distinction between good and bad stocks [15].

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 因东方集团股份有限公司（以下简称"公司"）股票连续20个交易日的每日股票收盘价均低于人民币1 元，已触及《上海证券交易所股票上市规则》（以下简称"《股票上市规则》"规定的交易类退市指标， 根据《股票上市规则》的相关规定,本公司的相关证券停复牌情况如下： ■ ● 公司股票2025年4月14日收盘价为0.36元/股，已连续20个交易日低于人民币1元。根据《股票上市规 则》第9.2.1条第一款第一项规定，公司股票触及终止上市条件，公司股票可能被上海证券交易所（以下 简称"上交所"）终止上市交易。根据相关规定，公司股票自2025年4月15日（周二）开市起停牌。 二、公司股票停牌安排及终止上市决定 截至2025年4月14日，公司股票收盘价为0.36元/股，已连续20个交易日低于人民币1元/股，根据《股票 上市规则》第9.2.1条第一款第一项的规定，公司股票触及终止上市条件，公司股票可能被上交所终止上 市交易。根据相关规定，公司股票自2025年4月1 ...

证券代码：600811 证券简称：*ST 东方 公告编号：临 2025-058 东方集团股份有限公司 关于收到公司终止上市相关事项的监管工作函的公告 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。 东方集团股份有限公司（以下简称"公司"）于 2025 年 4 月 14 日收到上海证券交 易所下发的《关于东方集团股份有限公司终止上市相关事项的监管工作函》（上证公函 【2025】0376 号，以下简称"《监管工作函》"），根据相关规定，现将《监管工作函》 内容公告如下： "东方集团股份有限公司： 截至 2025 年 4 月 14 日，你公司股票已连续 20 个交易日的每日股票收盘价均低于 1 元，根据《上海证券交易所股票上市规则(2024 年 4 月修订)》(以下简称《股票上市 规则》)第 9.2.1 条的规定，你公司股票已触及终止上市条件。你公司股票自 2025 年 4 月 15 日开市起停牌，本所上市委员会将在公司提出听证、陈述和申辩的有关期限届 满或者听证程序结束后 15 个交易日内，就是否终止公司股票上市事宜进行审议。本所 ...

本所将根据《股票上市规则》第 9.1.10 条、第 9.2.7 条等规定,对你公司股票作 出终止上市的决定。 如你公司申请听证，应当在收到本通知后 5 个交易日内，向我部提交载明申请听 证事项及申辩理由的书面听证申请。" 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。 东方集团股份有限公司（以下简称"公司"）于 2025 年 4 月 14 日收到上海证券 交易所下发的《关于拟终止东方集团股份有限公司股票上市的事先告知书》（上证公 函【2025】0377 号，以下简称"《事先告知书》"），根据相关规定，现将《事先告知 书》内容公告如下： 特此公告。 东方集团股份有限公司董事会 "东方集团股份有限公司： 截至 2025 年 4 月 14 日，你公司股票已连续 20 个交易日的每日股票收盘价均低 于 1 元，根据《上海证券交易所股票上市规则(2024 年 4 月修订)》(以下简称《股票 上市规则》)第 9.2.1 条等规定，你公司股票已经触及终止上市条件。 证券代码：600811 证券简称：*ST 东方 公告编号：临 2025-05 ...