证券代码：603843 证券简称：*ST 正平 公告编号：2026-014 正平路桥建设股份有限公司 关于股票交易的风险提示公告 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。 正平路桥建设股份有限公司（以下简称"公司"）股票自 2025 年 9 月至 2026 年 1 月 22 日期间累计涨幅达 111.15%，期间公司股价呈现连续涨停与连续跌停交替的剧烈 波动走势，交易风险高度累积。公司多次发布股票交易异常波动及风险提示公告，请 广大投资者充分关注公司存在的相关风险，理性决策，审慎投资。 截至 2025 年第三季度末，公司归母净资产仅为 2.80 亿元。但公司应收账款 11.20 亿元，合同资产 21.75 亿元，其他应收款 3.55 亿元，不排除因部分客户还款能 力较弱，相关往来款项信用风险加大，从而计提大额减值导致 2025 年度经审计净资 产为负的风险。在预重整债权申报的过程中，不排除发现应计而未计债务，导致 2025 年度经审计净资产为负的风险。此外，公司预重整债权申报仅涉及部分子公司，不排 除年审阶段发现其他应计 ...

正平股份公告称，2025年9月至2026年1月22日公司股票累计涨幅达111.15%，期间股价剧烈波动，多次 触及异常波动。公司基本面未变，交易风险高。此外，公司预重整债权申报有不确定性，可能难以消除 非标意见所涉事项；2025年度经审计归母净资产可能为负，有终止上市风险。2024年营收13.62亿元， 归母净利润 - 4.84亿元；2025年前三季度营收6.52亿元，归母净利润 - 0.99亿元。同时，公司还存在矿产 开采能力不足、采矿权被冻结等风险。 ...

证券代码：603843 证券简称：*ST 正平 公告编号：2026-013 正平路桥建设股份有限公司 股票交易异常波动暨风险提示公告 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： ●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"）股票自 2025 年 9 月至 2026 年 1 月 15 日期间累计涨幅达 126.77%；2026 年 1 月 16 日、1 月 19 日、1 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%， 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，公司股价剧烈涨跌走势，交易风险高度累积。请投资者 注意相关风险，理性决策，审慎投资。 ●公司预重整债权申报为部分债权申报，公司部分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 权申报及调查，公司部分控股子公司如贵 ...

Core Viewpoint - The A-share market has experienced a significant cooling after a month of rapid growth, influenced by regulatory measures aimed at enhancing market stability and preventing excessive speculation [1] Regulatory Measures - The China Securities Regulatory Commission (CSRC) emphasized the need for comprehensive market monitoring and timely counter-cyclical adjustments to maintain market stability [1] - The CSRC plans to strengthen trading and information disclosure regulations, focusing on preventing market manipulation and excessive speculation [3] Margin Requirement Adjustments - The minimum margin requirement for financing purchases has been raised from 80% to 100% for new financing contracts, marking the first increase in 10 years as the market approaches a critical index level [2] - This adjustment is part of a broader strategy to implement counter-cyclical regulation in the financing and securities market [2] Increased Regulatory Actions - The Shanghai Stock Exchange (SSE) reported taking self-regulatory measures against 365 instances of abnormal trading behavior in a single week, indicating a significant increase in regulatory scrutiny [4] - The Shenzhen Stock Exchange (SZSE) also intensified its regulatory actions, addressing 387 cases of abnormal trading behavior during the same period [5] Historical Context - The increase in regulatory measures follows a period of rapid market growth that began in mid-December 2025, with a notable rise in the number of abnormal trading cases being addressed by both exchanges [5]

Group 1 - The Shanghai Stock Exchange has monitored stocks with significant volatility, including *ST Zhengping, *ST Yazhen, Guosheng Technology, Aerospace Power, Tianpu Co., and Shuangwei New Materials, from January 12 to January 16 [1] - *ST Zhengping experienced a cumulative decline of 14.24% over three consecutive trading days from January 12 to January 14, followed by a near limit-up on January 15 and a drop of 4.92% on January 16 [1] - *ST Yazhen saw a cumulative increase of 43.74% from December 17, 2025, to January 8, 2026, with limit-up performances on January 12 and January 16 [1] - Guosheng Technology's stock price deviated significantly, with a cumulative increase exceeding 20% over three consecutive trading days from January 12 to January 14, followed by two consecutive limit-downs [1] - Tianpu Co. faced consecutive limit-downs on January 12 and 13, a limit-down at the opening on January 14, and a limit-up at closing, followed by a limit-down on January 15 [1] Group 2 - Shuangwei New Materials has shown significant cumulative increases since July 2025, with multiple instances of abnormal volatility [2] - The Shenzhen Stock Exchange announced a trading suspension for some investors of *ST Chengchang due to severe abnormal stock price fluctuations, with a resumption of trading on January 16 after a halt for investigation [4] - *ST Chengchang's stock price has increased approximately 190.89% since December 1, 2025 [5] - From January 12 to January 16, the Shenzhen Stock Exchange took self-regulatory measures against 387 instances of abnormal trading behavior, including market manipulation and false declarations [5]

Core Viewpoint - The Shanghai Stock Exchange has implemented monitoring measures for stocks with significant price fluctuations, indicating heightened trading risks for investors [1][2][4]. Group 1: Stock Monitoring and Performance - Stocks under monitoring include *ST Zhengping, *ST Yazhen, Guosheng Technology, Aerospace Power, Tianpu Co., and Shangwei New Materials due to their volatile trading patterns [1]. - *ST Zhengping experienced a cumulative decline of 14.24% over three consecutive trading days from January 12 to January 14, followed by a near limit-up on January 15 and a 4.92% drop on January 16 [1]. - *ST Yazhen saw a cumulative increase of 43.74% from December 17, 2025, to January 8, 2026, with limit-up performances on January 12 and January 16 [1]. - Guosheng Technology's stock price deviated significantly, with a cumulative increase exceeding 20% over three days from January 12 to January 14, followed by two consecutive limit-downs [1]. - Tianpu Co. faced consecutive limit-downs on January 12 and 13, a limit-down opening on January 14, and a limit-up closing on the same day, followed by a limit-down on January 15 [1]. - Shangwei New Materials has shown significant price increases since July 2025, with multiple instances of abnormal fluctuations [2]. Group 2: Regulatory Actions - The Shanghai Stock Exchange has taken self-regulatory measures against 365 instances of abnormal trading behaviors, including price manipulation and false declarations, and has conducted special investigations into 20 major corporate events [3]. - The Shenzhen Stock Exchange announced a trading suspension for certain investors of *ST Chengchang due to severe abnormal price fluctuations, with the stock experiencing a 190.89% increase since December 1, 2025 [4][5]. - From January 12 to January 16, the Shenzhen Stock Exchange addressed 387 instances of abnormal trading behaviors and conducted investigations into 15 major corporate events, reporting five suspected illegal activities to the regulatory authority [5].

Group 1 - The Shanghai Stock Exchange announced self-regulatory measures from January 12 to January 16, 2026, targeting 365 cases of abnormal trading behaviors such as price manipulation and false declarations [1] - Stocks with significant volatility, including *ST Zhengping, *ST Yazhen, Guosheng Technology, Aerospace Power, Tianpu Co., and Shangwei New Materials, will be under key monitoring [1] - The exchange will conduct special investigations into 20 major events related to listed companies [1]

Market Overview - As of January 15, the Shanghai Composite Index closed at 4112.60 points, with a decline of 0.33%. The Shenzhen Component Index closed at 14306.73 points, increasing by 0.41%. The ChiNext Index closed at 3367.92 points, rising by 0.56% [1] Trading Volume Analysis - A total of 1255 stocks saw an increase in average transaction volume, with 15 stocks experiencing a growth of over 50%. Conversely, 3315 stocks reported a decrease in transaction volume. Notable stocks with significant increases include Wenke Co., Ltd., Shanhe Pharmaceutical, and Sanjia Technology [1] Active Stocks by Transaction Volume - The stocks with the highest increase in average transaction volume include: - Wenke Co., Ltd. (10.09% increase, 3841 shares, 241.99% increase) - Shanhe Pharmaceutical (20.01% increase, 1613 shares, 125.77% increase) - Sanjia Technology (9.99% increase, 983 shares, 112.27% increase) [2] Active Stocks by Transaction Count - The stocks with the highest increase in transaction count include: - Sanwei Communication (481,875 transactions, 10799.68% increase) - ST Keli Da (3,235 transactions, 3797.59% increase) - Sanjiang Shopping (128,956 transactions, 3237.37% increase) [3] Stocks with Significant Increases in Both Volume and Count - Shanhe Pharmaceutical stands out with a 20.01% increase in price, an average transaction volume of 1613 shares (125.77% increase), and a transaction count of 25,673 (98.97% increase) [4] - Other notable stocks include: - Jiangshan Co., Ltd. (9.99% increase, 795 shares, 97.34% increase, 38,300 transactions, 61.17% increase) - Dibei Electric (10.01% increase, 921 shares, 61.43% increase, 18,200 transactions, 244.11% increase) [5]

证券代码：603843 证券简称：*ST 正平 公告编号：2026-012 正平路桥建设股份有限公司 关于股票交易的风险提示公告 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。 正平路桥建设股份有限公司（以下简称"公司"）股票自 2025 年 9 月至 2026 年 1 月 15 日期间累计涨幅达 126.77%，期间公司股价呈现连续涨停与连续跌停交替的剧烈 波动走势，交易风险高度累积。公司多次发布股票交易异常波动及风险提示公告，请 广大投资者充分关注公司存在的相关风险，理性决策，审慎投资。 一、二级市场交易风险 公司股票自 2026 年 1 月 6 日至 9 日连续 4 个交易日涨停，累计涨幅达 20.74%； 2026 年 1 月 12 日至 14 日连续 3 个交易日跌停，跌幅达 14.24%；2026 年 1 月 15 日又 接近涨停。当前公司基本面未发生重大变化，股价剧烈交替波动已积累较高交易风险， 投资者盲目参与可能面临重大损失。请投资者关注公司存在的相关风险，理性决策， 审慎投资。 二、公司预重整债权申报为部分债 ...

Core Viewpoint - The company has experienced a significant stock price increase of 126.77% from September 2025 to January 15, 2026, but is currently facing high trading risks due to alternating price fluctuations of limit up and limit down [1] Financial Performance - For the year 2024, the company reported a revenue of 1.362 billion and a net profit attributable to shareholders of -484 million [1] - In the first three quarters of 2025, the company generated a revenue of 652 million with a net profit attributable to shareholders of -99 million [1] - As of the end of Q3 2025, the company's net assets attributable to shareholders stood at 280 million, with a potential risk of negative net assets by the end of 2025 due to asset impairment [1] Corporate Actions - The company is undergoing a pre-restructuring debt claim process, which is partially submitted, and some subsidiaries are not included, potentially complicating the elimination of non-standard audit opinions [1]