*ST正平公告称，公司股票自2025年12月24日至30日连续4个交易日涨停，累计涨幅达22.87%，已严重 脱离基本面。公司预重整债权申报范围有限，主要控股子公司未被纳入，可能难以通过本次债权申报消 除非标意见所涉事项。公司不排除因资产减值、预重整债权申报发现应计而未计债务，导致2025年度经 审计的归母净资产为负，从而被终止上市的风险。此外，公司存在其他资金占用、违规担保的可能性， 以及矿产资源开采能力不足和业绩持续亏损等问题。 ...

Core Viewpoint - *ST Zhengping's stock has experienced a significant increase of 22.87% over four consecutive trading days, raising concerns about its detachment from fundamental performance [1] Group 1: Stock Performance - The company's stock was subject to a trading halt due to a continuous rise, with a cumulative increase of 22.87% from December 24 to December 30, 2025 [1] Group 2: Financial Concerns - The company faces potential risks of negative audited net assets for the fiscal year 2025, which could lead to delisting, due to limited scope for pre-restructuring debt claims and possible undisclosed liabilities [1] - There are indications of possible asset impairment and undisclosed debts that may be revealed during the pre-restructuring debt claim process [1] Group 3: Operational Issues - The company has ongoing issues such as potential fund misappropriation, illegal guarantees, insufficient mining resource extraction capabilities, and continuous operating losses [1]

Core Viewpoint - The company *ST Zhengping is facing significant uncertainties regarding its financial stability and potential delisting due to ongoing issues with its debt restructuring and audit opinions [1] Group 1: Stock Performance and Trading - The company's stock price has deviated significantly, with a cumulative increase of over 12% in closing prices over three consecutive trading days, indicating abnormal trading activity [1] - There is a risk of the company's stock being delisted if it cannot resolve the issues related to non-standard audit opinions before the 2025 audit report [1] Group 2: Debt Restructuring and Financial Reporting - The pre-restructuring debt claims submitted only cover a portion of the company's subsidiaries, raising concerns about the accuracy and completeness of the debt claims [1] - The company may face difficulties in eliminating non-standard audit opinions, which could lead to a negative net asset value for the parent company by 2025, increasing the risk of delisting [1] - There is uncertainty regarding the company's ability to enter the restructuring process and whether it can address the issues related to non-standard audit opinions [1] Group 3: Financial Health and Operational Challenges - The company has been experiencing continuous losses, and there are concerns about potential asset impairments and undisclosed liabilities that could further impact its financial health [1] - The company's mining resource extraction capabilities are insufficient, which may hinder its operational performance and recovery efforts [1]

证券代码：603843 证券简称：*ST 正平 公告编号：2025-104 正平路桥建设股份有限公司 股票交易异常波动公告 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： ●二级市场交易风险。正平路桥建设股份有限公司（以下简称"公司"或"正平 股份"）股票于 2025 年 12 月 25 日、12 月 26 日、12 月 29 日连续三个交易日内收盘 价格涨幅偏离值累计超过 12%，根据《上海证券交易所交易规则》的有关规定，属于 股票交易异常波动。截至目前，公司基本面未发生重大变化，但近期公司股票交易价 格涨幅已严重脱离公司目前的基本面情况，公司股价与同期上证指数、建筑行业存在 严重偏离，投资者参与交易可能面临较大的市场风险。公司郑重提醒广大投资者关注 公司存在的风险，理性决策，审慎投资。 ●公司预重整债权申报为部分债权申报，公司主要控股子公司未被纳入本次预重 整债权申报范围，债权申报准确性、完整性存在重大不确定性，公司可能难以通过本 次债权申报消除非标意见所涉事项。公司预重整债权申报涉及母公司及部分子公司债 ...

格隆汇12月29日｜*ST正平公告，公司股票连续三个交易日内收盘价格涨幅偏离值累计超过12%，属于 股票交易异常波动。截至目前，公司基本面未发生重大变化，但近期公司股票交易价格涨幅已严重脱离 公司目前的基本面情况，公司股价与同期上证指数、建筑行业存在严重偏离，投资者参与交易可能面临 较大的市场风险。公司预重整债权申报为部分债权申报，公司主要控股子公司未被纳入本次预重整债权 申报范围，债权申报准确性、完整性存在重大不确定性，公司可能难以通过本次债权申报消除非标意见 所涉事项。公司不排除存在因资产减值、预重整债权申报发现应计而未计债务，导致2025年度经审计的 归母净资产为负，从而被终止上市的风险。 ...

Core Viewpoint - The infrastructure sector experienced a slight increase of 0.13% on December 26, with *ST Zhengping leading the gains. The Shanghai Composite Index closed at 3963.68, up 0.1%, while the Shenzhen Component Index closed at 13603.89, up 0.54% [1]. Group 1: Stock Performance - *ST Zhengping (603843) closed at 4.97, with a rise of 5.07% and a trading volume of 379,200 shares, amounting to a transaction value of 188 million yuan [1]. - *ST Huawang (603007) closed at 5.30, increasing by 4.95% with a trading volume of 222,500 shares, totaling 118 million yuan [1]. - China Nuclear Engineering (601611) closed at 13.69, up 3.79% with a trading volume of 1,498,900 shares, resulting in a transaction value of 201.5 million yuan [1]. - Chengbang Co. (603316) closed at 14.88, rising by 3.77% with a trading volume of 129,200 shares, amounting to 192 million yuan [1]. - *ST Jiaotou (002200) closed at 7.67, increasing by 2.13% with a trading volume of 14,800 shares, totaling 11.23 million yuan [1]. Group 2: Capital Flow - The infrastructure sector saw a net outflow of 269 million yuan from institutional investors, while retail investors contributed a net inflow of 248 million yuan [2]. - Major stocks like China Nuclear Engineering had a net inflow of 155.5 million yuan from institutional investors, while it faced a net outflow of 156.5 million yuan from speculative funds [3]. - Huylv Ecology (001267) experienced a net inflow of 56.19 million yuan from institutional investors, but a significant net outflow of 70.20 million yuan from retail investors [3].

证券代码：603843 证券简称：*ST 正平 公告编号：2025-102 正平路桥建设股份有限公司 关于公司预重整部分债权申报及部分子公司债权调查的 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。 重大风险提示： ●本次预重整债权申报为部分债权申报，公司主要控股子公司未被纳入本次预重 整债权申报范围，债权申报准确性、完整性存在重大不确定性，公司可能难以通过本 次债权申报消除非标意见所涉事项。正平路桥建设股份有限公司（以下简称"公司" 或"正平股份"）预重整债权申报涉及母公司及部分子公司债权申报及调查，公司重 要控股子公司如贵州水利、贵州金九金、隆地电力等公司均未被纳入本次预重整债权 申报及债权调查范围。考虑到相关子公司业务规模较大，涉及债务较多，因相关公司 未被纳入预重整债权申报范围，公司可能难以通过本次预重整债权申报，消除 2024 年非标意见所涉及的工程项目成本费用、外部借款计量的准确性、完整性不足等事项。 ●公司不排除存在因资产减值、预重整债权申报发现应计而未计债务，导致 2025 年度经审计的归母净资产为负，从 ...

证券代码：603843 证券简称：*ST 正平 公告编号：2025-103 正平路桥建设股份有限公司 2025年第二次临时股东会决议公告 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。 | 股东类型 | 同意 | | 反对 | | 弃权 | | | --- | --- | --- | --- | --- | --- | --- | | | 票数 | 比例（%） | 票数 | 比例 （%） | 票数 | 比例 （%） | | A 股 | 251,003,439 | 99.5968 | 905,620 | 0.3593 | 110,540 | 0.0439 | 重要内容提示： 本次会议是否有否决议案：无 一、 会议召开和出席情况 | 1、出席会议的股东和代理人人数 | 990 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 252,019,599 | | 3、出席会议的股东所持有表决权股份数占公司有表决权股 | | | 份总数的比例（%） | 36.0222% | (四) 表决方式是否符合《 ...

令青海竞帆律师事务所 关于正平路桥建设股份有限公司 2025年第二次临时股东会之 法律意见书 Jf〃g／h〃C》加吗8I0000 青 海 竞 帆 律 师 事 务 所 青海竞帆律师事务所 股东会法律意见书 ≡曰 海 竞 帆 律 师 事 务 所 地址:青海省西宁市西关大街180号青海银行18楼 电话:0971ˉ8587800 邮编:810000 电子邮箱:jfsjⅢytd@163。coⅢ 目 录 | | 一、关于本次股东会的召集 召开程序…………….………..……4 、 | | --- | --- | | ＿ 一 、 | 关于出席本次股东会人员的资格……………………………….5 | | 二、 | 关于本次股东会的表 决程序….….……………………….·………6 | | | 四、结论意见……..…………………………………….………………………8 | ／ ／八划洲 （2025）青竞律（非诉）字第（4431）号 致:正平路桥建设股份有限公司 青海竞帆律师事务所（以下简称"本所''）接受正平路 桥建设股份有限公司（以下简称"公司"）的委托'指派李 萍、严海珍律师（以下简称''本所律师''）出席公司召开的 2025年第二次 ...

Group 1 - The core point of the article is that *ST Zhengping has announced a pre-restructuring debt claim declaration involving the parent company and 13 subsidiaries, with a deadline for claims submission set for January 25, 2026, using both online and paper mailing methods [1] - This debt claim declaration is partial, and important controlling subsidiaries are not included, leading to uncertainties regarding the accuracy and completeness of the claims, which may not eliminate the non-standard opinion issues for 2024 [1] - As of the end of the third quarter of 2025, the company's net assets attributable to the parent company are 280 million yuan, but there are asset impairment issues and undisclosed liabilities that could result in negative audited net assets, posing a risk of delisting [1] Group 2 - The company's stock price has shown significant fluctuations, with a large increase from the beginning of the year to November 18, detaching from the fundamentals, prompting a warning for investors to be cautious of risks [1]