Summary of Key Points Core Insights - The report highlights various companies undergoing temporary suspensions of trading due to different reasons, including financial disclosures and potential delisting risks. This indicates a volatile market environment where investor confidence may be affected by such events [2][3][4]. Company Specifics - ST Jiuzhi (000989) announced a temporary suspension of trading on May 6, 2025, due to the cancellation of other risk warnings [2]. - In the case of ST Gongzhi (000584), trading was suspended due to a risk warning regarding potential delisting, effective from April 28, 2025 [2]. - ST Hengli (000622) and Tianmao Group (000627) also faced trading suspensions due to their inability to disclose periodic reports within the legal timeframe, effective from May 6, 2025 [2]. - Binhai Energy (000695) is undergoing a trading suspension as it plans to issue shares for asset acquisition and raise matching funds, effective from April 30, 2025 [2]. - Electric Power Investment Energy (002128) is also suspended for similar reasons related to asset acquisition and related party transactions, effective from May 6, 2025 [2]. Industry Context - The report reflects a broader trend in the market where companies are facing increased scrutiny and regulatory challenges, leading to trading suspensions. This could signal potential investment risks in the affected sectors [2][3][4].

Core Viewpoint - Eight A-share listed companies have failed to disclose their annual reports on time, with some actively pursuing delisting, while others face verification issues [1][2][3]. Group 1: Companies with Delayed Annual Reports - The eight companies include Yulong Co., AVIC Industry Finance, Puli Tui, ST Xinchao, Zitian Technology, Jinlitai, Tianmao Group, and *ST Hengli [2][3]. - Among these, Yulong Co., ST Xinchao, AVIC Industry Finance, and Tianmao Group have market capitalizations exceeding 10 billion yuan, with AVIC Industry Finance reaching 30.6 billion yuan [2]. - The remaining four companies have significantly lower valuations, with Jinlitai around 2 billion yuan and the others below 2 billion yuan [2]. Group 2: Reasons for Delayed Reports - Yulong Co. and AVIC Industry Finance are actively pursuing delisting, which prevents them from timely disclosing their 2024 annual reports [3]. - Puli Tui has received a decision from the Shenzhen Stock Exchange regarding the termination of its stock and convertible bonds [3]. - Jinlitai's delay is due to incomplete verification of financial information, while Tianmao Group and ST Xinchao require further information verification [3]. - *ST Hengli cited the need for additional information and delays from the auditing firm as reasons for its report delay [3]. - Zitian Technology failed to complete its audit due to not hiring an annual audit accountant [3]. Group 3: Stock Performance Amid Report Delays - Despite the report delays, ST Xinchao's stock price increased by 38.36% in April, possibly due to competitive takeover offers [4][5]. - In contrast, Tianmao Group and *ST Hengli experienced stock price declines after announcing their report delays, with Tianmao Group's stock hitting the limit down for two consecutive days [4][5]. - The overall market reaction indicates a divergence in investor sentiment, with some companies facing significant operational risks due to their inability to disclose reports on time [5].

Core Viewpoint - Yulong Co., Ltd. is facing delisting from the A-share market after submitting an application for termination of listing, primarily due to the short remaining lifespan and limited processing capacity of its gold mining assets, particularly the recently acquired Pajingo Gold Mine [2][4][23] Group 1: Company Background and Acquisition History - Yulong Co., Ltd. was once a gold stock with a market value exceeding 10 billion, but is now on the verge of delisting [2] - The company entered the gold mining sector through two acquisitions between 2020 and 2022, with the first acquisition of Barto Resources being canceled and the second acquisition of NQM Gold being completed [5][6][7] - The Pajingo Gold Mine, acquired in December 2022, has a limited remaining lifespan and was previously owned by a company with a history of financial fraud [2][8][17] Group 2: Shareholder Dynamics and Related Transactions - Jinan High-tech Holding Group, which became Yulong's largest shareholder, conducted due diligence on the Pajingo Gold Mine as early as 2018, before any formal association with Yulong [2][13] - Following a series of financial difficulties faced by its predecessor, Tianye Group, Jinan High-tech and its affiliates provided significant financial support to Yulong and its subsidiaries [17][19][20] - The acquisition of Pajingo involved complex related-party transactions, with Jinan High-tech and its affiliates being both the buyer and seller in the transaction [10][12][11] Group 3: Financial Performance and Future Outlook - Despite initial improvements in financial performance following debt restructuring, Yulong has reported cumulative losses of nearly 920 million from 2020 to 2023 [21][22] - The company’s net asset value is projected to be negative by the end of 2024, which could trigger further delisting risks [22] - Jinan High-tech's financial troubles have also escalated, with numerous legal disputes and frozen shares impacting its financial stability [22][23]

Summary of Key Points Core Viewpoints - The report highlights the ongoing trend of stock suspensions due to delisting risk warnings across multiple companies, indicating a potential downturn in market confidence and stability [2][3][4]. Company Listings - Several companies are scheduled for initial public offerings (IPOs) on April 29, 2025, including Tai Li Technology (301595) and Ze Run New Energy (301636), which may attract investor interest [1]. - The report notes the specific dates for various IPO-related activities, such as inquiry periods and fund unfreezing dates, which are crucial for market participants [1]. Stock Suspension Announcements - Numerous companies, including Guohua Network Security (000004) and Nanhua Biology (000504), have announced stock suspensions due to delisting risk warnings, reflecting a significant concern regarding their financial health [2][3]. - The report lists a total of 30 companies facing stock suspensions on April 29, 2025, due to various risk warnings, which may impact investor sentiment and trading volumes [2][3][4]. Special Suspensions - Companies like *ST Xu Lan (000040) and *ST Gong Zhi (000584) are highlighted for potential termination of listings, indicating severe financial distress and regulatory scrutiny [4][5]. - The report emphasizes the importance of monitoring these companies as their situations evolve, which could present both risks and opportunities for investors [4][5].

山东玉龙黄金股份有限公司 关于上海证券交易所受理公司股票主动终止上市申请的公告 证券代码：601028 证券简称：玉龙股份 公告编号：2025-042 根据《上海证券交易所股票上市规则》的相关要求，公司已于 2025 年 4 月 25 日向上交所提交了本次终止上市事宜的申请，并于 2025 年 4 月 26 日披露了 《山东玉龙黄金股份有限公司关于向上海证券交易所提出终止上市申请的公告》。 2025 年 4 月 28 日，公司收到上交所《关于受理山东玉龙黄金股份有限公司 股票主动终止上市申请的通知》（〔2025〕102 号），上交所决定受理公司关于股 票主动终止上市的申请。 特此公告。 山东玉龙黄金股份有限公司董事会 2025 年 4 月 29 日 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。 山东玉龙黄金股份有限公司（以下简称"公司"或"玉龙股份"）拟以股东 大会决议方式主动撤回 A 股股票在上海证券交易所（以下简称"上交所"）的上 市交易，并申请股票进入全国中小企业股份转让系统退市板块继续交易（以下简 称"本次终止上市" ...

证券代码：601028 证券简称：玉龙股份 公告编号：2025-041 山东玉龙黄金股份有限公司 关于本次终止上市事项现金选择权股份清算与交割结果的公告 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。 山东玉龙黄金股份有限公司（以下简称"公司"）拟以股东大会决议方式主 动撤回 A 股股票在上海证券交易所的上市交易，并申请股票进入全国中小企业股 份转让系统退市板块继续交易（以下简称"本次终止上市"）。本次终止上市事项 已经公司 2025 年第二次临时股东大会审议通过。 公司已于 2025 年 4 月 9 日披露了《山东玉龙黄金股份有限公司关于本次终 止上市事项现金选择权申报公告》，并分别于 2025 年 4 月 17 日披露了《山东玉 龙黄金股份有限公司关于本次终止上市事项现金选择权开始申报的提示性公告》、 于 2025 年 4 月 18 日披露了《山东玉龙黄金股份有限公司关于本次终止上市事项 现金选择权申报尚余 4 个交易日的提示性公告》、于 2025 年 4 月 19 日披露了《山 东玉龙黄金股份有限公司关于本次终止上市事项 ...

证券代码：601028 证券简称：玉龙股份 公告编号：2025-043 山东玉龙黄金股份有限公司 关于无法在法定期限内披露2024年年度报告及2025年第一季度报告 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。 山东玉龙黄金股份有限公司（以下简称"公司"）原计划于 2025 年 4 月 29 日披露 2024 年年度报告及 2025 年第一季度报告。 由于公司拟以股东大会决议方式主动撤回 A 股股票在上海证券交易所（以下 简称"上交所"）的上市交易，并申请股票进入全国中小企业股份转让系统退市 板块继续交易（以下简称"本次终止上市事宜"），本次终止上市事宜已于 2025 年 4 月 7 日经公司 2025 年第二次临时股东大会审议通过，且公司已于 2025 年 4 月 25 日向上交所提交了本次终止上市事宜的申请，并已于 2025 年 4 月 28 日收 到了上交所就本次终止上市事宜作出的受理决定，因此无法在法定期限内披露 2024 年年度报告及 2025 年第一季度报告。 公司后续将持续推进以股东大会决议方式主动终止 ...

Core Viewpoint - Yulong Co., Ltd. (601028) has announced its decision to voluntarily withdraw its A-shares from trading on the Shanghai Stock Exchange and apply for its stocks to continue trading in the National Equities Exchange and Quotations (NEEQ) delisting section [1] Group 1 - The termination of the listing has been approved by the company's second extraordinary general meeting held on April 7, 2025 [1] - The company submitted the application for termination of listing to the Shanghai Stock Exchange on April 25, 2025, and disclosed the relevant announcement on April 26, 2025 [1] - On April 28, 2025, the company received a notice from the Shanghai Stock Exchange acknowledging the acceptance of its application for voluntary termination of listing [1]

Core Viewpoint - Yulong Co., Ltd. (601028) plans to withdraw its A-shares from the Shanghai Stock Exchange and apply for trading on the National Equities Exchange and Quotations (NEEQ) due to a resolution passed at the second extraordinary general meeting of shareholders in 2025 [1] Group 1 - The company originally intended to disclose its 2024 annual report and the first quarter report of 2025 on April 29, 2025 [1] - The decision to terminate the listing was approved on April 7, 2025, during the company's second extraordinary general meeting [1] - The application for termination of listing was submitted to the Shanghai Stock Exchange on April 25, 2025, and the acceptance decision was received on April 28, 2025 [1]

重要公告： 玉龙股份：向上交所提出终止上市申请 中国电信：一季度净利润同比增长3.11% 国电电力：一季度净利润同比增长1.45% 洛阳钼业：一季度净利润同比增长90.47% 沪市重要公告： 华嵘控股：将被实施退市风险警示 4月28日停牌1天 华嵘控股（600421）公告，因公司2024年度经审计的扣除非经常性损益前后的净利润均为负值，且扣除 与主营业务无关的业务收入和不具备商业实质的收入后的营业收入低于3亿元，公司股票将于2025年4月 28日停牌1天，自2025年4月29日开市起复牌并实施退市风险警示，股票简称变更为"*ST华嵘"。 中国电信：一季度净利润同比增长3.11% 中国电信（601728）公告，公司2025年一季度实现营业收入1345.09亿元，同比增长0.01%；净利润 88.64亿元，同比增长3.11%。 东吴证券：一季度净利润同比增长114.86% 东吴证券（601555）公告，公司2025年一季度实现营业收入30.92亿元，同比增长38.95%；净利润9.8亿 元，同比增长114.86%。 养元饮品：公司控制的泉泓投资对长控集团增资16亿元 养元饮品（603156）公告，公司控制的泉泓投 ...