证券代码：603843 证券简称：*ST 正平 公告编号：2026-034 正平路桥建设股份有限公司 关于公司及子公司诉讼仲裁事项进展及新增诉讼 仲裁事项的公告 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。 重要内容提示： ●本次新增诉讼仲裁事项所处的阶段：经初步统计，正平路桥建设股份有限 公司（以下简称"公司"或"正平股份"）及子公司本次新增诉讼仲裁事项共计 47 起，涉案金额合计 3791.25 万元（未经审计），处于尚未开庭、已开庭尚未 判决、已判决（含已调解）正在执行的阶段。 ●上市公司所处的当事人地位：被告/被申请人。 ●是否会对上市公司损益产生负面影响：本次新增诉讼仲裁事项中，公司及 子公司作为被告/被申请人案件共计 47 起，其中：尚未开庭 3 起，涉案金额合计 133.03 万元；已开庭尚未判决 8 起，涉案金额合计 972.86 万元；已判决（含已 调解，正在执行）的共计 36 起，涉案金额合计 2685.36 万元，上述数据均未经 审计，公司将依据企业会计准则的要求和实际情况进行相应的会计处理。 ●公司将 ...

正平路桥建设股份有限公司（以下简称"公司"）股票自 2026 年初至今,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 3 月 11 日期间累计 11 个交易日涨停,8 个交易日 跌停。期间 6 次触及股票交易异常波动,发布 10 次股票交易风险提示公告。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。 证券代码：603843 证券简称：*ST 正平 公告编号：2026-033 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。 公司能否进入重整程序存在重大不确定性，公司进入预重整后能否消除非标意见 所涉事项存在重大不确定性。西宁中院决定对公司启动预重整，不代表公司正式进入 重整程序， ...

证券代码：603843 证券简称：*ST 正平 公告编号：2026-032 正平路桥建设股份有限公司 七、公司矿产资源开采能力不足。公司全资子公司格尔木生光矿业开发有限公司 取得了青海省自然资源厅颁发的《采矿许可证》。公司开采能力不足，矿产资源开发 未来需大规模投入建设和运营，但公司目前无充足资金、人员及设备等用于后续开采， 鉴于公司存在审计后净资产为负、非标意见难以消除等重大退市风险，公司提请 投资者重点关注以下风险事项。 一、随着审计工作的推进，可能存在因进一步调整导致净资产为负的风险。公司 净资产预计区间较前期披露出现较大幅度下调，预计区间下限为负值，公司存在净资 产为负的重大退市风险。鉴于审计工作尚未完成，本次业绩预告更正数据仅为公司根 据目前审计进展情况做出的预计，后续随着审计工作的深入，可能存在因进一步调整 导致净资产为负的风险。根据《上海证券交易所股票上市规则》相关规定，若公司 2025 年度经审计的期末净资产为负值，公司股票将触及相关退市情形，存在被终止上 市的重大风险。 二、公司存在被出具非标审计意见的重大退市风险。截至目前，年审会计师尚未 获得充分、适当的审计证据证明 2024 年审计报告 ...

证券代码：603843 证券简称：*ST 正平 公告编号：2026-031 正平路桥建设股份有限公司 关于公司股票可能被终止上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。 重要内容提示： ●随着审计工作的推进，公司净资产预计区间较前期披露出现较大幅度下调， 预计区间下限为负值，公司存在净资产为负的重大退市风险。鉴于审计工作尚未 完成，本次业绩预告更正数据仅为公司根据目前审计进展情况做出的预计。根据 《上海证券交易所股票上市规则》相关规定，若公司 2025 年度经审计的期末净资 产为负值，公司股票将触及相关退市情形，存在被终止上市的重大风险。 ●公司存在被出具非标审计意见的重大退市风险。截至目前，年审会计师尚 未获得充分、适当的审计证据证明 2024 年审计报告无法表示意见涉及事项已消除， 如后续仍无法获取充分、适当的审计证据，预计将对公司 2025 年度财务报表出具 非无保留意见。公司股票将触及《上海证券交易所股票上市规则》规定的退市相 关条款，面临被终止上市的风险。 ●2024 年度内部控制审计报告 ...

Financial Forecasts - The company expects a net asset range of -30 million to 90 million CNY by the end of 2025, indicating a significant risk of delisting due to negative net assets [2]. - The previous forecast estimated a net profit attributable to shareholders of -430 million to -340 million CNY for 2025, with total profit expected to be between -450 million and -360 million CNY [4]. - The projected operating revenue for 2025 is between 950 million and 1.35 billion CNY, with adjusted revenue (excluding non-core business) expected to be between 940 million and 1.34 billion CNY [4]. - The company has not made significant adjustments to its operating revenue, total profit, or net profit forecasts aside from the net asset changes [5]. - The audit work is still ongoing, and the current forecasts are based on preliminary audit progress, which may change [5]. Delisting Risks - The company faces a major delisting risk due to the possibility of receiving a non-standard audit opinion for the 2025 financial statements [3]. - The internal control audit report for 2024 received a negative opinion, and if the 2025 report also receives a negative opinion, it will trigger delisting risks [6]. - The company has been under risk warning since May 6, 2025, due to negative net profit and net asset concerns [2]. Communication and Apologies - The company has committed to improving communication with the auditing firm to enhance the accuracy and timeliness of performance forecasts [8]. - The company expresses sincere apologies to investors for the inconvenience caused by the performance forecast correction [8].

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"）股票于 2026 年 2 月 26 日、2 月 27 日、3 月 2 日连续三个交易日内收盘价格 涨幅偏离值累计超过 12%，触及股票交易异常波动。公司基本面未发生重大变化，股 价剧烈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。 ●公司存在净资产为负的重大退市风险。年审会计师专项说明显示，年审会计师 对公司 2025 年度财务报告审计工作尚在进行中，根据已经实施的审计程序和已获得 的审计资料，年审会计师尚不能确定公司业绩预告中 2025 年末净资产为正，公司存 在因净资产为负而退市的重大风险。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 ...

Core Viewpoint - The Shanghai Stock Exchange has implemented self-regulatory measures against 158 cases of abnormal trading behaviors, including price manipulation and false declarations, highlighting increased scrutiny on specific stocks and funds [1] Group 1: Regulatory Actions - The Shanghai Stock Exchange took self-regulatory measures against 158 cases of abnormal trading behaviors from February 24 to February 27 [1] - Stocks under special risk warning for abnormal fluctuations include *ST Yan Shi, *ST Zheng Ping, and *ST Jing Lun [1] - The exchange is closely monitoring funds with high premiums, such as the China-Korea Semiconductor ETF [1] Group 2: Investigations and Reporting - The exchange conducted special investigations into 7 major events related to listed companies [1] - One case of suspected illegal activities has been reported to the China Securities Regulatory Commission [1]

Group 1 - The Shanghai Stock Exchange implemented self-regulatory measures on 158 cases of abnormal trading behaviors, including price manipulation and false declarations, from February 24 to February 27, 2026 [1] - Stocks under risk warning for abnormal fluctuations, such as *ST Rock, *ST Zhengping, and *ST Jinglun, are being closely monitored, along with the high-premium fund, the China-Korea Semiconductor ETF [1] - The exchange conducted special investigations on 7 major events related to listed companies and reported one suspected illegal case to the China Securities Regulatory Commission [1]

Market Overview - The Shanghai Composite Index closed at 4163, with a gain of 1.98% and a price-to-earnings ratio of 17.1 [1] - The Sci-Tech Innovation Board Index closed at 1850, increasing by 2.24% with a price-to-earnings ratio of 77.1 [1] - The Shanghai 50 Index closed at 1488, up by 1.20% with a price-to-earnings ratio of 69.8 [1] - The Shanghai 180 Index closed at 10403, gaining 1.41% with a price-to-earnings ratio of 12.9 [1] - The Shanghai 380 Index closed at 7548, increasing by 4.18% with a price-to-earnings ratio of 27.1 [1] Trading Volume - The total trading volume for the main board stocks was 31685 million yuan [2] - The trading volume for the Sci-Tech Innovation Board stocks was 9991 million yuan [2] - The total bond trading volume reached 114895.9 million yuan [2] - The total fund trading volume was 13854 million yuan [2] - The total ETF trading volume (including money market funds) was 13813 million yuan [2] Financing Situation - In the main board, there were 49 refinancing cases raising 67.7 million yuan [6] - In the Sci-Tech Innovation Board, there were 15 refinancing cases raising 3.7 million yuan [6] - A total of 74 bonds were issued, raising 506 million yuan [6] Regulatory Overview - The Shanghai Stock Exchange sent out 5 regulatory letters during the period, requiring one company to disclose supplementary or corrective announcements [12] - The exchange initiated investigations into 5 cases of insider trading and abnormal trading due to significant stock price fluctuations [12] - A total of 158 cases of abnormal trading behavior were monitored, including actions against stocks with significant volatility [13] Company Debt Review - From February 24 to February 27, 2026, the Shanghai Stock Exchange received applications from 34 companies to issue bonds, with a total proposed issuance amount of 667.18 million yuan [20]

Core Viewpoint - The company, Zhengping Road and Bridge Construction Co., Ltd., is facing significant trading risks and potential delisting due to negative net assets and non-standard audit opinions, which could lead to substantial losses for investors [1][3][4]. Group 1: Trading Risks - The company's stock experienced a cumulative increase of 121.56% from September 1, 2025, to February 26, 2026, with alternating periods of trading halts, indicating high trading risk [1]. - From January 6 to 9, 2026, the stock hit the upper limit for four consecutive trading days, with a total increase of 20.74%, followed by a decline of 24.96% over seven days from January 12 to 29, 2026 [2]. Group 2: Financial Health and Delisting Risks - The company has a significant risk of delisting due to negative net assets, with a reported net asset of only 280 million yuan as of the end of the third quarter of 2025 [3]. - The company’s accounts receivable amount to 1.12 billion yuan, and contract assets are 2.175 billion yuan, raising concerns about potential credit risks and the possibility of large impairment losses [3]. - The company is under scrutiny for potentially undisclosed debts that could further impact its financial standing and lead to a negative net asset situation [6]. Group 3: Audit and Compliance Issues - The company is at risk of receiving a non-standard audit opinion for the 2025 financial report if issues from the 2024 audit are not resolved [4]. - The internal control audit for 2024 received a negative opinion, and if the 2025 audit also results in a negative opinion, the company may face mandatory delisting under the Shanghai Stock Exchange rules [5]. Group 4: Restructuring and Legal Risks - The company is undergoing a pre-restructuring process, but there is uncertainty regarding the completeness and accuracy of the debt claims submitted, which may affect the restructuring outcome [6]. - The company’s mining rights are subject to potential freezing due to ongoing litigation, which could further complicate its operational capabilities [9]. Group 5: Operational Challenges - The company’s subsidiary lacks sufficient mining capacity and resources for future development, leading to significant uncertainty regarding the ability to generate revenue from mining operations [8].