Trading Information - As of October 14, 2025, *ST Yuancheng (603388) closed at 1.49 yuan, down 5.1%, with a trading volume of 10,414 shares and a transaction amount of 1.55 million yuan [1] - The stock has declined for five consecutive days, with a year-to-date drop of 38.3%. In the first ten trading days, the net outflow of main funds totaled 23.94 million yuan, with a cumulative drop of 12.85% [1] Fund Flow - On October 14, the net outflow of main funds was 390,400 yuan, accounting for 25.16% of the total transaction amount. Retail investors had a net inflow of 413,000 yuan, representing 26.62% of the total transaction amount [1] Block Trading - On October 14, *ST Yuancheng recorded a block trade amounting to 3.36 million yuan [2] Shareholder Changes - The controlling shareholder, Mr. Zhu Changren, had 975,520 shares judicially transferred, representing 2.98% of his holdings and 0.30% of the company's total share capital. Following this transfer, his holdings decreased from 32,775,520 shares to 31,800,000 shares, reducing his ownership percentage from 10.06% to 9.76% [2] - The combined holdings of the controlling shareholder and his concerted parties decreased from 39,647,714 shares to 38,672,194 shares, with a reduction in ownership percentage from 12.17% to 11.87% [2] Company Announcements - *ST Yuancheng's market capitalization was reported at 485 million yuan as of October 14, 2025, falling below the 500 million yuan threshold, which poses a risk of delisting if the market cap remains below this level for 20 consecutive trading days [3] - The company has received a notice from the CSRC regarding administrative penalties related to false records in annual reports from 2020 to 2022 [3] Financial Performance - For the first half of 2025, the company reported a net loss of 126.80 million yuan, indicating ongoing financial difficulties and uncertainty regarding its ability to continue operations [4] - The company has overdue fundraising totaling 171.60 million yuan, and all shares held by the controlling shareholder and concerted parties are pledged, with some shares subject to judicial freezing, indicating potential risks of judicial auction [4]

最新公告列表 截至2025年10月14日收盘，*ST元成（603388）报收于1.49元，较前一交易日下跌5.1%，最新总市值为 4.85亿元。该股当日开盘1.49元，最高1.49元，最低1.49元，成交额达155.17万元，换手率为0.32%。 近日，元成环境股份有限公司发布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一次风险提 示公告。公告显示，公司股票2025年10月14日收盘价为1.49元，市值4.85亿元，首次低于5亿元，存在因 连续20个交易日市值低于5亿元被终止上市的风险。根据相关规定，交易类强制退市不进入退市整理 期。公告同时提示，公司已收到证监会《行政处罚事先告知书》，涉及2020年至2022年年报虚假记载及 非公开发行文件编造重大虚假内容，可能触发重大违法强制退市。2025年上半年净利润为-12,679.50万 元，持续亏损，持续经营能力存在不确定性。部分募集资金逾期未归还，合计17,160.35万元。控股股东 及其一致行动人持股全部质押，部分股份被司法冻结，存在司法拍卖风险。公司流动性紧张，应收款项 回款困难。公司股票已被实施退市风险警示及其他风险警示。 以上内容为证券之星据公开信 ...

Core Viewpoint - *ST Yuancheng has experienced significant trading activity, with a notable decline in stock price and net outflow of funds, indicating potential concerns regarding investor confidence and market performance [2] Trading Activity - On October 14, *ST Yuancheng recorded 5 transactions on the block trading platform, totaling 2.2561 million shares and a transaction value of 3.3616 million yuan, with a consistent transaction price of 1.49 yuan [2] - Over the past three months, the stock has seen a total of 16 block trades, accumulating a transaction value of 10.6936 million yuan [2] Stock Performance - The closing price of *ST Yuancheng on October 14 was 1.49 yuan, reflecting a decrease of 5.10% [2] - The stock's turnover rate for the day was 0.32%, with a total trading volume of 1.5517 million yuan [2] - In the last five days, the stock has declined by 21.16%, with a total net outflow of funds amounting to 19.2175 million yuan [2] Company Background - Yuancheng Environmental Co., Ltd. was established on December 23, 1999, with a registered capital of 3,257.33572 million yuan [2]

证券代码：603388 证券简称：*ST 元成 公告编号：2025-117 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 的第一次风险提示公告 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 14 日收盘 价为 1.49 元，市值为 4.85 亿元，首日低于 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。 根据《股票上市规则》第 9.6.1 条第二款的规定，交易类强制退市公司股 票不进入退市整理期。敬请广大投资者注意投资风险。 一、公司股票可能被终止上市的原因 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 ...

元成环境股份有限公司 关于控股股东、实际控制人所持公司部分股份 被司法划转暨权益变动的提示性公告 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： 证券代码：603388 证券简称：*ST 元成 公告编号：2025-116 ● 本次被司法划转的股份为元成环境股份有限公司（以下简称"公司"） 控股股东、实际控制人祝昌人先生持有的公司 975,520 股无限售条件流通股， 占其所持有公司股份数量的 2.98%，占公司总股本的 0.30%。 ● 截至本公告披露日，上述 975,520 股份已被司法划转。 ● 本次司法划转事项不会对公司经营管理产生重大不利影响，亦不会导致 公司控股股东和实际控制人发生变化。 公司于 2025 年 10 月 14 日收到控股股东、实际控制人祝昌人先生的通知并 通过中国登记结算有限责任公司系统查询获悉，其所持有的公司 975,520 股无限 售条件流通股已被司法划转，现将司法划转主要情况公告如下： 一、本次司法划转的基本情况 根据《杭州市西湖区人民法院民事判决书》【（2024）浙 0106 ...

*ST元成公告，公司控股股东、实际控制人祝昌人持有的97.55万股无限售条件流通股，占其所持股份的 2.98%，占公司总股本的0.30%，已被司法划转。此次划转不会对公司经营管理产生重大不利影响，也 不会导致公司控股股东和实际控制人发生变化。截至公告披露日，上述97.55万股份已完成过户手续。 ...

New Stock Issuance - He Yuan Bio (787765) issued shares at a price of 29.06 on October 14, 2025[1] - The offer period for the acquisition of Shangwei New Materials (688585) is from September 29, 2025, to October 28, 2025[1] Market Alerts - Significant abnormal fluctuations reported for Nanjing New Pharmaceutical (688189) on October 10, 2025[1] - Multiple companies including Hefei Urban Construction (002208) and ST Jianyi (002789) have recent announcements regarding their stock performance[1] Trading Notifications - A total of 30 companies have trading notifications on October 14, 2025, indicating various market activities[1] - Companies such as ST Er Ya (600107) and Guangdong Mingzhu (600382) are among those with recent trading alerts[1]

Core Viewpoint - *ST Yuancheng (603388.SH) faces potential delisting risk due to significant violations in financial reporting, including inflated revenue and profit figures from 2020 to 2022, as identified by the China Securities Regulatory Commission (CSRC) [1][4][7] Financial Violations - The company was found to have inflated operating costs by approximately 158.44 million CNY, inflated revenue by about 208.90 million CNY, and inflated total profit by around 50.46 million CNY from 2020 to 2022 [4] - Specific annual figures include: - 2020: Operating costs inflated by 115.08 million CNY, revenue inflated by 153.56 million CNY, and profit inflated by 38.48 million CNY, representing 22.75%, 21.48%, and 36.60% of the reported amounts respectively [4] - 2021: Operating costs inflated by 25.08 million CNY, revenue inflated by 36.17 million CNY, and profit inflated by 11.09 million CNY, representing 5.99%, 6.31%, and 19.32% of the reported amounts respectively [4] - 2022: Operating costs inflated by 18.28 million CNY, revenue inflated by 19.17 million CNY, and profit inflated by 0.89 million CNY, representing 7.22%, 5.86%, and 1.62% of the reported amounts respectively [4] Regulatory Actions - The CSRC issued a preliminary notice of administrative penalties, indicating that the company may face mandatory delisting due to these violations [1][2] - The company has not yet received a formal penalty decision but is cooperating with the CSRC [2] - The company’s stock has experienced consecutive trading halts, with declines of 4.85% and 5.10% on October 13 and 14, 2025, respectively [3] Management Accountability - Key executives, including the actual controller Zhu Changren, are implicated in the violations, with proposed penalties including fines and potential market bans [12] - Zhu Changren faces a proposed 10-year ban from the securities market due to the severity of the violations [12] - Other executives, including the former CFO and board members, are also facing penalties for failing to ensure accurate financial reporting [9][12] Fundraising and Financial Impact - The company raised approximately 284.55 million CNY through a non-public stock issuance in 2022, which is now under scrutiny due to the reported financial discrepancies [13] - The total amount raised through two fundraising efforts is approximately 587.05 million CNY [14]

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 13, there are 1,015 stocks with a circulating market value below 3 billion yuan, and 407 stocks with a circulating market value below 2 billion yuan [1] - A total of 1,697 stocks have a total market value below 5 billion yuan, with 619 stocks below 3 billion yuan [1] Smallest Market Capitalization Stocks - The three stocks with the smallest circulating market values are: - *ST Gao Hong: 430 million yuan - *ST Yuan Cheng: 511 million yuan - Kuntai Co., Ltd.: 627 million yuan [1] - The three stocks with the smallest total market values are: - *ST Gao Hong: 440 million yuan - *ST Yuan Cheng: 511 million yuan - *ST Su Wu: 711 million yuan [1] Selected Stocks with Low Market Capitalization - A list of stocks with circulating market values below 2 billion yuan includes: - *ST Gao Hong: Circulating market value of 430 million yuan, total market value of 440 million yuan, PE ratio not applicable, industry: Communication - *ST Yuan Cheng: Circulating market value of 511 million yuan, total market value of 511 million yuan, PE ratio not applicable, industry: Construction Decoration - Kuntai Co., Ltd.: Circulating market value of 627 million yuan, total market value of 2.27 billion yuan, PE ratio of 51.56, industry: Automotive [1] - Other notable stocks include: - Kangliyuan: Circulating market value of 657 million yuan, total market value of 2.57 billion yuan, PE ratio of 43.88, industry: Light Industry Manufacturing - Kereisi: Circulating market value of 664 million yuan, total market value of 2.26 billion yuan, PE ratio of 184.72, industry: Communication [1] Additional Stocks - Other stocks with low market capitalization include: - *ST Su Wu: Circulating market value of 711 million yuan, total market value of 711 million yuan, PE ratio not applicable, industry: Pharmaceutical Biology - Hongming Co., Ltd.: Circulating market value of 713 million yuan, total market value of 2.17 billion yuan, PE ratio not applicable, industry: Machinery Equipment - Southeast Electronics: Circulating market value of 719 million yuan, total market value of 2.41 billion yuan, PE ratio of 55.81, industry: Electronics [1]

Core Viewpoint - *ST Yuancheng (603388.SH) faces significant penalties and potential delisting due to false financial reporting and fraudulent issuance of shares, with a total fine of 79.45 million yuan proposed against the company and five responsible individuals [2][4]. Financial Misconduct - The company has been found to have false records in annual reports from 2020 to 2022, inflating operating costs by 158 million yuan and revenue by 209 million yuan, with total profit inflated by 50.46 million yuan, representing 36.6% of the disclosed profit in 2020 [3]. - In 2022, the company failed to adjust financial records based on settlement results, leading to an additional inflation of revenue by 14.16 million yuan and profit by 13.45 million yuan, which accounted for 24.6% of the disclosed profit that year [3]. - The 2022 non-public stock issuance raised 285 million yuan based on fraudulent financial data, leading to significant misrepresentation in the issuance documents [3]. Penalties and Regulatory Actions - The Zhejiang Securities Regulatory Bureau proposed a fine of 37.45 million yuan against *ST Yuancheng, with the core responsible person, Zhu Changren, facing a 28 million yuan fine and a 10-year ban from the securities market [4]. - Other key personnel received fines ranging from 2 million to 5 million yuan, with the company facing potential delisting due to serious violations of stock exchange rules [4]. Financial Performance - The company has reported continuous losses, with net profits of -65.48 million yuan in 2022, -162 million yuan in 2023, and -325 million yuan in 2024, totaling over 550 million yuan in losses over three years [5]. - The 2024 audit report indicated uncertainty regarding the company's ability to continue as a going concern, leading to additional risk warnings for its stock [5]. - In the first half of 2025, the company reported a net loss of 127 million yuan, a year-on-year decline of 94.52%, attributed to increased market competition and project margin declines [5].