证券代码：603388 证券简称：*ST 元成 公告编号：2025-124 元成环境股份有限公司 关于公司股票可能存在因市值低于5亿元而终止上市的第二次风险提示 暨首次股价低于1元的风险提示公告 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法律责任。 重要内容提示： ● 元成环境股份有限公司（以下简称"公司"） 股票 2025 年 10 月 27 日 收盘总市值为 3.09 亿元，已连续 10 个交易日总市值低于 5 亿元。根据《上海 证券交易所股票上市规则》（以下简称"《股票上市规则》"）第 9.2.1 条第 一款第（五）项的规定，上市公司出现连续 20 个交易日在上海证券交易所（以 下简称"上交所"）的每日股票收盘总市值均低于 5 亿元情形的，上交所将决 定终止公司股票上市，属于交易类强制退市。敬请广大投资者注意投资风险。 ● 公司股票 2025 年 10 月 27 日收盘价为 0.95 元，首次低于 1 元。根据《股 票上市规则》第 9.2.1 条第一款第（一）项的规定，上市公司出现连续 20 个交 易日在上交所的每日股票收盘价 ...

Core Viewpoint - *ST Yuancheng's stock hit the daily limit down, reflecting significant investor concerns due to financial misconduct allegations and overall market conditions [2]. Group 1: Company Issues - *ST Yuancheng faced severe penalties for false disclosures in annual reports and fraudulent issuance, damaging its reputation and investor confidence [2]. - The upcoming Q3 report on October 31 raises concerns about its authenticity and the company's actual operational status, making it difficult for investors to assess potential benefits [2]. Group 2: Industry and Market Environment - The landscaping engineering industry is experiencing intense competition and sluggish growth, impacting demand for *ST Yuancheng's services [2]. - The overall market environment is uncertain, leading to reduced capital inflow and affecting business demand in the landscaping sector [2]. Group 3: Market Sentiment and Technical Analysis - The stock price reached a historical low on October 24, with a decline of 4.76%, indicating a severe lack of market confidence and significant sell-offs by investors [2]. - On October 23, the trading data showed that total sell-offs far exceeded buy-ins, indicating substantial capital outflow and a weak technical outlook for the stock [2].

Group 1 - Small-cap stocks exhibit higher volatility and activity compared to large-cap stocks, making them more likely to become market leaders [1] - As of October 24, there are 955 stocks with a circulating market value below 3 billion yuan, and 380 stocks with a circulating market value below 2 billion yuan [1] - A total of 1,681 stocks have a total market value below 5 billion yuan, with 542 stocks having a total market value below 3 billion yuan [1] Group 2 - The three stocks with the smallest circulating market values are *ST Yuan Cheng at 326 million yuan, *ST Gao Hong at 430 million yuan, and Kuntai Co., Ltd. at 661 million yuan [1] - The three stocks with the smallest total market values are also *ST Yuan Cheng at 326 million yuan, *ST Gao Hong at 440 million yuan, and *ST Su Wu at 754 million yuan [1] - A detailed list of stocks with circulating market values below 2 billion yuan includes various sectors such as construction decoration, communication, automotive, and more [1][2]

Group 1 - The article lists several companies under monitoring for stock price fluctuations, indicating potential investment opportunities or risks [1] - The monitoring periods for the companies vary, with some starting as early as October 22, 2025, and ending as late as November 7, 2025 [1] - Specific companies mentioned include 香农芯创, *ST元成, *ST东易, 大有能源, and 华建集团, each with designated monitoring dates [1]

Core Points - *ST Yuancheng's stock price has dropped 21.88% this week, closing at 1.0 yuan, reaching a near one-year low [1] - The company has been under trading risk warning since October 13, 2025, due to significant price fluctuations [1][3] - The company faces potential delisting risks as its market capitalization has been below 5 billion yuan for nine consecutive trading days [1][3] Trading Information Summary - *ST Yuancheng has appeared on the "Dragon and Tiger List" twice due to a cumulative price drop deviation exceeding 12% over three consecutive trading days [1][3] - The company has experienced five consecutive days of block trading, with a total transaction amount of 436.6 million yuan [3] - Notable block trades include transactions of 134.24 thousand yuan on October 20 and 30.95 thousand yuan on October 24 [1][3] Company Announcement Summary - The company received a notice from the China Securities Regulatory Commission regarding administrative penalties for inflating revenue and profits from 2020 to 2022, totaling over 208.9 million yuan [2][3] - The company reported a net loss of 126.8 million yuan in the first half of 2025, indicating ongoing financial difficulties [2][3] - The controlling shareholder's shares are fully pledged, with some under judicial freeze, leading to liquidity issues [2]

Core Viewpoint - Yuan Cheng Environment Co., Ltd. is under investigation by the China Securities Regulatory Commission (CSRC) for suspected false disclosures in financial reports, which may lead to a forced delisting of its stock due to major violations [2][4][6] Group 1: Investigation and Allegations - The company received a notice from the CSRC on July 1, 2025, regarding the investigation into false disclosures in annual reports from 2020 to 2022 [4] - The CSRC's preliminary findings indicate that the company inflated costs and revenues related to the Yuelongshan project, resulting in a cumulative inflation of operating costs by approximately 158.44 million yuan, operating income by about 208.90 million yuan, and total profit by around 50.46 million yuan from 2020 to 2022 [4][5] - The company also failed to timely account for discrepancies in the Huaiyin project, leading to an inflated operating income of approximately 14.16 million yuan and total profit of about 13.45 million yuan in the 2022 annual report [5][6] Group 2: Potential Consequences - If the formal penalty decision confirms the violations, the company may face a forced delisting of its stock according to the Shanghai Stock Exchange's regulations [2][6][7] - The company has stated it will cooperate fully with the CSRC and exercise its rights to defend itself, with the final outcome dependent on the CSRC's official decision [3][7] - As of October 24, 2025, the company's stock has been below a total market value of 500 million yuan for nine consecutive trading days, which could lead to further delisting actions if this trend continues [7]

New Stock Issuance - Daming Electronics (Code: 732376) issued at a price of 12.55[1] - Chaoying Electronics (Code: 603175) issued at a price of 17.08[1] Equity Announcements - Offer period for Shangwei New Materials (Code: 688585) is from September 29, 2025, to October 28, 2025[1] - Significant abnormal fluctuations reported for *ST Yuancheng (Code: 603388) on October 24, 2025[1] Recent Trading Alerts - Multiple companies reported significant trading alerts, including ST Dongyi (Code: 002713) and ST Keli Da (Code: 603828) on October 22 and 24, 2025, respectively[1] - A total of 50 companies reported trading alerts, with the highest alert for *ST Haohua (Code: 600243) on October 24, 2025[1]

| 仅景垒立日心 | | | | | | | --- | --- | --- | --- | --- | --- | | 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 | | 奥出营业部 是否为专场 | | 025-10-24 | *ST元成 | 603388 | 30.95 30.95 | 菜園景點發展產品 | 發開解 190 | 10月24日，*ST元成大宗交易成交30.95万股，成交额30.95万元，占当日总成交额的24.09%，成交价1 元，较市场收盘价1元持平。 ...

证券代码：603388 证券简称：*ST 元成 公告编号：2025-123 元成环境股份有限公司关于公司股票 可能被实施重大违法强制退市的第三次风险提示公告 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法律责任。 重要风险提示： ● 元成环境股份有限公司(以下简称"公司") 因涉嫌年报等定期报告财务 数据虚假披露，被中国证券监督管理委员会（以下简称"中国证监会"）立案 调查。2025 年 10 月 10 日，公司收到中国证监会下发的《行政处罚事先告知书》 （浙处罚字[2025]14 号）。认定：1、公司 2020 年至 2022 年年报存在虚假记载： （一）通过虚增越龙山项目成本和产值，虚增公司 2020 年至 2022 年年报营业 收入和利润总额；（二）未及时将淮阴项目价审差异入账处理，虚增公司 2022 年年报营业收入和利润总额；2、公司 2022 年非公开发行股票文件编造重大虚 假内容。 ● 如根据正式的处罚决定书结论，公司触及重大违法强制退市情形，公司 股票将被终止上市。根据《上海证券交易所股票上市规则》第 9.5.7 条、第 ...

Core Insights - Small-cap stocks exhibit higher volatility and activity compared to large-cap stocks, making them more likely to become market leaders [1] - As of October 23, there are 951 stocks with a circulating market value below 3 billion yuan, and 382 stocks with a circulating market value below 2 billion yuan [1] - A total of 1,681 stocks have a total market value below 5 billion yuan, with 546 stocks having a total market value below 3 billion yuan [1] Market Overview - The three stocks with the smallest circulating market values are *ST Yuan Cheng at 342 million yuan, *ST Gao Hong at 430 million yuan, and Kuntai Co. at 648 million yuan [1] - The three stocks with the smallest total market values are also *ST Yuan Cheng at 342 million yuan, *ST Gao Hong at 440 million yuan, and *ST Su Wu at 718 million yuan [1] Stock Performance - A detailed list of stocks with circulating market values below 2 billion yuan includes: - *ST Yuan Cheng: Circulating market value 342 million yuan, total market value 342 million yuan, P/E ratio not applicable, industry: Construction Decoration [1] - *ST Gao Hong: Circulating market value 430 million yuan, total market value 440 million yuan, P/E ratio not applicable, industry: Communication [1] - Kuntai Co.: Circulating market value 648 million yuan, total market value 2.348 billion yuan, P/E ratio 53.33, industry: Automotive [1] - Additional stocks with low circulating market values include: - Kangliyuan: Circulating market value 678 million yuan, total market value 2.654 billion yuan, P/E ratio 45.32, industry: Light Industry Manufacturing [1] - Kereisi: Circulating market value 704 million yuan, total market value 2.393 billion yuan, P/E ratio 195.79, industry: Communication [1] - *ST Su Wu: Circulating market value 718 million yuan, total market value 718 million yuan, P/E ratio not applicable, industry: Pharmaceutical Biology [1]