Core Insights - Small-cap stocks exhibit higher volatility and activity compared to large-cap stocks, making them more likely to become market leaders [1] Market Overview - As of October 21, there are 969 stocks with a circulating market value below 3 billion yuan, and 387 stocks with a circulating market value below 2 billion yuan [1] - A total of 1,682 stocks have a total market value below 5 billion yuan, with 567 stocks below 3 billion yuan [1] Smallest Market Capitalization Stocks - The three stocks with the smallest circulating market values are *ST Yuan Cheng at 378 million yuan, *ST Gao Hong at 430 million yuan, and Kuntai Co. at 638 million yuan [1] - The three stocks with the smallest total market values are also *ST Yuan Cheng at 378 million yuan, *ST Gao Hong at 440 million yuan, and *ST Su Wu at 690 million yuan [1] Selected Stocks with Low Market Value - Notable stocks with circulating market values below 800 million yuan include: - *ST Yuan Cheng: Circulating market value 378 million yuan, total market value 378 million yuan, P/E ratio not available, industry: Construction Decoration [1] - *ST Gao Hong: Circulating market value 430 million yuan, total market value 440 million yuan, P/E ratio not available, industry: Communication [1] - Kuntai Co.: Circulating market value 638 million yuan, total market value 2.309 billion yuan, P/E ratio 52.44, industry: Automotive [1] - Kangliyuan: Circulating market value 672 million yuan, total market value 2.631 billion yuan, P/E ratio 44.92, industry: Light Industry Manufacturing [1] - *ST Su Wu: Circulating market value 690 million yuan, total market value 690 million yuan, P/E ratio not available, industry: Pharmaceutical Biology [1]

Group 1 - The stock of *ST Yuancheng (603388) closed at 1.16 yuan on October 21, 2025, down 4.92%, marking a continuous decline for 10 days with a cumulative drop of 50.15% since the beginning of 2025 [1][4] - The stock has experienced a net outflow of 2,083.6 million yuan from major funds over the first 10 trading days, with a total drop of 34.91% during this period [1] - On October 21, major funds saw a net outflow of 72.45 million yuan, accounting for 59.75% of the total trading volume [1] Group 2 - On October 21, *ST Yuancheng recorded 4 block trades with a total transaction amount of 162.43 million yuan [2] - The stock has been under a delisting risk warning since October 13, 2025, due to a cumulative price drop exceeding 12% over three consecutive trading days [3][4] - The company has reported a net loss of 126.80 million yuan for the first half of 2025, indicating ongoing financial difficulties and potential delisting risks [3]

Group 1 - The core point of the news is that *ST Yuancheng experienced a significant block trade on October 21, with a total of 1.4003 million shares traded, amounting to 1.6243 million yuan, which accounted for 57.25% of the total trading volume for that day [1][2]. Group 2 - The trading price for *ST Yuancheng was 1.16 yuan, which remained stable compared to the market closing price of 1.16 yuan [1].

Core Insights - The average stock price of A-shares is 13.64 yuan, with 28 stocks priced below 2 yuan, the lowest being *ST Gao Hong at 0.38 yuan [1][2] - Among the low-priced stocks, 13 are ST stocks, accounting for 46.43% of the total [1] - In terms of market performance, 23 of the low-priced stocks increased in price, with Yingxin Development, Rongsheng Development, and Guangtian Group leading with gains of 10.00%, 5.06%, and 4.49% respectively [1] Low-Priced Stocks Overview - The lowest priced stock is *ST Gao Hong at 0.38 yuan, followed by *ST Su Wu at 0.97 yuan and *ST Yuan Cheng at 1.16 yuan [1] - The table of low-priced stocks includes various sectors such as telecommunications, pharmaceuticals, construction decoration, and real estate [1][2] - Notable daily price changes include Yingxin Development with a 10.00% increase and *ST Yuan Cheng with a 4.92% decrease [1][2]

Core Viewpoint - *ST Yuancheng has experienced a significant decline, with a total drop of 29.7% over the past seven trading days, culminating in a trading halt due to reaching the daily limit down [2] Company Summary - *ST Yuancheng has faced a continuous downward trend, marked by seven consecutive trading days of losses [2] - The cumulative decline of 29.7% indicates substantial market volatility and investor concern regarding the company's performance [2]

Summary of Key Points Core Viewpoint - *ST Yuancheng (603388) has experienced a significant decline in stock price, raising concerns about its financial stability and potential delisting risks due to continuous losses and regulatory issues [1][3]. Trading Information - On October 20, 2025, *ST Yuancheng closed at 1.22 yuan, down 4.69%, with a trading volume of 22.8 million yuan [1][3]. - The stock has fallen for nine consecutive days, with a cumulative decline of 47.95% in 2025 [1]. - In the first ten trading days, the net outflow of main funds reached 23.09 million yuan, with a stock price drop of 29.05% during this period [1]. Fund Flow - On October 20, the net outflow of main funds was 23.51 thousand yuan, accounting for 84.51% of the total trading volume [1]. - Retail investors contributed a net inflow of 19.68 thousand yuan, representing 70.74% of the total trading volume [1]. Regulatory and Company Announcements - The stock has been placed under a delisting risk warning since October 13, 2025, due to a market capitalization below 5 billion yuan for five consecutive trading days [1][3]. - If the market capitalization remains below 5 billion yuan for 20 consecutive trading days, it will trigger mandatory delisting [1]. - The company received a notice from the China Securities Regulatory Commission regarding potential administrative penalties due to false disclosures in annual reports from 2020 to 2022 [1][3]. - The company reported a net loss of 126.80 million yuan in the first half of 2025, indicating ongoing financial difficulties [1]. - The controlling shareholder's shares are fully pledged, with some shares subject to judicial freezing and auction [1].

Core Points - The stock of Yuan Cheng Environment Co., Ltd. (ST Yuan Cheng) has experienced significant price volatility, with a cumulative decline of over 12% in the closing prices over three consecutive trading days [1] - The company is under a delisting risk warning due to its market capitalization falling below 5 billion yuan for five consecutive trading days, with a potential forced delisting if this continues for 20 days [1] - The company has received a notice from the China Securities Regulatory Commission regarding administrative penalties for false disclosures in annual reports from 2020 to 2022, which may lead to significant legal consequences [1] Financial Performance - For the first half of 2025, the company reported a net loss of 126.795 million yuan, indicating ongoing financial difficulties and a risk of delisting due to financial issues [1] - The company's total market capitalization as of October 20, 2025, was 397 million yuan, reflecting a significant decline in value [1] Shareholder Situation - The controlling shareholder's shares are fully pledged, with some shares subject to judicial freezing, and related shares are undergoing judicial auction or sale [1] - The company is facing liquidity issues, with some idle raised funds not being returned on time [1] Operational Status - Despite the financial challenges, the company's production and operations are reported to be normal, with no undisclosed significant matters [1]

Core Viewpoint - *ST Yuancheng has experienced significant trading activity, with a notable decline in stock price and net outflow of funds, indicating potential concerns among investors [2] Group 1: Trading Activity - On October 20, *ST Yuancheng recorded three block trades totaling 1.1003 million shares, with a total transaction value of 1.3424 million yuan, at a price of 1.22 yuan per share [2] - Over the past three months, the stock has seen 25 block trades, accumulating a total transaction value of 14.3115 million yuan [2] Group 2: Stock Performance - The closing price of *ST Yuancheng on the same day was 1.22 yuan, reflecting a decrease of 4.69% [2] - The stock's turnover rate for the day was 0.07%, with a total trading volume of 0.2782 million yuan, and a net outflow of main funds amounting to 0.2715 million yuan [2] - In the last five days, the stock has declined by 22.29%, with a total net outflow of funds reaching 1.7516 million yuan [2] Group 3: Company Background - Yuancheng Environmental Co., Ltd. was established on December 23, 1999, with a registered capital of 3,257.33572 million yuan [2]

Core Viewpoint - *ST Yuancheng experienced a decline of 4.69% on October 20, closing at 1.22 yuan, with significant block trades occurring during the day [1] Trading Activity - A total of three block trades were executed, with a combined volume of 1,100,300 shares and a total transaction value of 1.3424 million yuan [1] - The first trade involved 500,000 shares at a price of 1.22 yuan, with a transaction value of 610,000 yuan and a premium rate of 0.00% [1] - The second trade involved 300,300 shares at the same price of 1.22 yuan, with a transaction value of 366,400 yuan and a premium rate of 0.00% [1] - The third trade involved 300,000 shares at 1.22 yuan, with a transaction value of 366,000 yuan and a premium rate of 0.00% [1] Recent Performance - Over the past three months, *ST Yuancheng has recorded a total of 25 block trades, with a cumulative transaction value of 14.3115 million yuan [1] - In the last five trading days, the stock has seen a cumulative decline of 22.29%, while the net inflow of main funds amounted to 282,700 yuan [1]

证券代码：603388 证券简称：*ST 元成 公告编号：2025-121 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"）股票于 2025 年 10 月 16 日、 2025 年 10 月 17 日、2025 年 10 月 20 日连续三个交易日内收盘价格跌幅偏离值 累计超过 12%，属于《上海证券交易所交易规则》规定的股票交易异常波动情形。 ● 市值退市风险。公司股票 2025 年 10 月 14 日收盘价为 1.49 元，市值为 4.85 亿元，首日低于 5 亿元。截至 10 月 20 日收盘，已连续 5 个交易日总市值 低于 5 亿。根据《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。 ● 重大违法强制退市风险。2025 年 10 月 10 日，公司收到中国证监会下发 的《行政处罚事 ...