Core Viewpoint - Jiangsu Sihuan Biological Co., Ltd. has been placed under delisting risk warning due to its poor performance in 2024, leading to a significant drop in stock price and market capitalization [1][2]. Financial Performance - The company reported a revenue of 204 million yuan in 2024, a year-on-year decline of 13.55% [2]. - The net profit attributable to shareholders was -109 million yuan, a substantial decrease of 46.13% year-on-year [2]. - Cumulatively, the company has incurred losses of nearly 270 million yuan over the past four years, with a loss of over 100 million yuan in 2024 alone [2]. Market Challenges - Increased pressure from centralized drug procurement and intensified industry competition have significantly impacted the company's sales [3]. - The company's core products have seen a substantial decline in market share due to price reductions and competition from generic drugs [3]. Research and Development - The company has been increasing its R&D personnel from 16 in 2020 to 37 in 2024, with R&D expenses growing by 31.09% year-on-year in Q1 2025 [3][4]. - Despite the increase in R&D investment, the total amount remains below 30 million yuan, which is insufficient to develop competitive new products [4]. Operational Issues - The company's diversification into landscaping and ecological projects has not improved performance and has instead become a burden due to asset impairment losses [5]. - The company has faced significant challenges related to its actual controller, leading to legal and financial repercussions that have further eroded investor confidence [6][7]. Legal and Regulatory Challenges - The company has been subject to administrative penalties and market bans due to false disclosures, resulting in ongoing litigation with investors totaling approximately 27.32 million yuan [7]. - The recent changes in control and ongoing legal issues have severely damaged the company's reputation in the capital market [7].

股 票 代 码 ： 0 0 0 5 1 8 股 票 简 称 ： 四 环 生 物 公告编号：临 - 2025 - 2 8 号 江苏四环生物股份有限公司 4、公司及控股股东、实际控制人不存在关于本公司的应披露而未披露的重 大事项。 5、公司控股股东、实际控制人在公司股票交易异常波动期间未买卖本公司 股票； 关于股票交易异常波动公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 一、股票交易异常波动的情况 江苏四环生物股份有限公司（以下简称"公司"）股票(证券简称：*ST 四环， 证券代码：000518)连续两个交易日（2025 年 4 月 30 日、2025 年 5 月 6 日）收 盘价跌幅偏离值累计达到-12.92%，根据深圳证券交易所的有关规定，属于股票 交易异常波动的情况。 二、公司关注并核实的相关情况 经与公司控股股东、实际控制人、公司董事会及管理层进行核实，就有关情 况说明如下： 1、公司前期披露的信息不存在需要更正、补充之处。 2、近期公共传媒未报道可能或已经对本公司股票交易价格产生较大影响的 未公开重大信息。 3、近期公司经营情况及内外部经营环境未 ...

股 票 代 码 ： 0 0 0 5 1 8 股 票 简 称 ： 四 环 生 物 公告编号：临 - 2025 - 2 9 号 江苏四环生物股份有限公司 关于公司办公地址变更的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 江苏四环生物股份有限公司（以下简称"公司"）因经营发展需要，已于近 日搬迁至新地址办公，公司办公地址由江阴市新桥镇新郁路中房 6 号变更为江阴 市滨江东路 2 号海澜财富中心 41 楼，邮政编码变更为 214434。 除上述变更外，公司注册地址、投资者热线、传真、电子邮箱、官方网址等 信息均保持不变，具体如下： 办公地址：江阴市滨江东路 2 号海澜财富中心 41 楼 邮政编码：214434 投资者热线：0510-86408558 传真：0510-86408558 电子邮箱：0518shsw@163.com 官方网址：http://www.000518shsw.com/ 特此公告。 江苏四环生物股份有限公司 2025 年 5 月 6 日 1 ...

股 票 代 码 ： 0 0 0 5 1 8 股 票 简 称 ： 四 环 生 物 公告编号：临 - 2025 - 2 7 号 江苏四环生物股份有限公司 关于监事辞职的公告 1 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 江苏四环生物股份有限公司（以下简称"公司"）于今日收到监事徐立科女 士的辞职申请。徐立科女士因个人原因向监事会申请辞去监事职务，徐立科女士 辞职后将不在公司担任任何职务。 徐立科女士的原定任期为 2023 年 6 月 26 日至 2026 年 6 月 25 日。截至公告 日，徐立科女士未持有公司股份，不存在应当履行而未履行的承诺事项。徐立科 女士的辞职将导致监事会人数低于法定最低人数,依照相关法律规定,其辞职申 请将在公司股东大会选举产生新任监事补其缺额后生效。 公司监事会对徐立科女士在任职期间所做的工作表示由衷的感谢。 特此公告。 江苏四环生物股份有限公司 2025 年 4 月 29 日 ...

Financial Performance - The company's revenue for Q1 2025 was ¥43,841,686.93, a decrease of 22.26% compared to ¥56,398,850.85 in the same period last year[5] - The net loss attributable to shareholders was ¥15,914,724.60, representing a significant increase of 436.35% from a loss of ¥2,967,209.29 in the previous year[5] - Total operating revenue decreased to ¥43,841,686.93 from ¥56,398,850.85, representing a decline of approximately 22.3% year-over-year[18] - Net loss attributable to the parent company was ¥15,914,724.60, compared to a loss of ¥2,967,209.29 in the previous period, indicating a significant increase in losses[19] - The total comprehensive loss for the period was ¥17,157,875.99, compared to a loss of ¥3,230,218.16 in the previous period, indicating a worsening financial position[19] Cash Flow - The net cash flow from operating activities increased by 79.70% to ¥9,726,780.20, up from ¥5,412,924.97 in the same period last year[5] - Operating cash inflow for the current period was CNY 63,053,484.57, an increase of 7.3% compared to CNY 58,767,005.15 in the previous period[20] - Cash received from other operating activities increased significantly to CNY 20,049,151.52 from CNY 1,991,272.43, marking a growth of over 900%[20] - The net increase in cash and cash equivalents was CNY 8,031,240.06, compared to a decrease of CNY 2,516,593.42 in the previous period[21] - The ending balance of cash and cash equivalents was CNY 16,025,481.15, up from CNY 12,697,043.58 in the prior period[21] Assets and Liabilities - Total assets at the end of the reporting period were ¥559,033,527.59, a decrease of 1.48% from ¥567,402,831.84 at the end of the previous year[5] - Total liabilities increased to ¥177,217,825.18 from ¥168,429,253.44, marking an increase of about 5.0%[17] - The company's total equity attributable to shareholders decreased by 4.28% to ¥355,798,555.07 from ¥371,713,279.67 at the end of the previous year[5] - The company's total equity decreased to ¥381,815,702.41 from ¥398,973,578.40, a decline of about 4.3%[17] Research and Development - Research and development expenses rose by 31.09% to ¥9,049,945.79, compared to ¥6,903,522.01 in the previous year, reflecting increased investment in R&D[8] - Research and development expenses rose to ¥9,049,945.79 from ¥6,903,522.01, an increase of approximately 31.0% year-over-year[18] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 102,819[10] - The largest shareholder, Fujian Bwater Agricultural Investment Co., Ltd., held 27.78% of the shares, totaling 28,599,000 shares[10] - The company completed the transfer of 28,599 million shares, accounting for 27.78% of the total share capital, to Fujian Bwater Agricultural Investment Co., Ltd. for CNY 387,573,648[12] Other Financial Metrics - The basic and diluted earnings per share were both -¥0.0155, a decline of 434.48% from -¥0.0029 in the same period last year[5] - The company reported a significant increase in credit impairment losses, amounting to -¥573,589.37 compared to -¥3,563,007.96 in the previous period[19] - Total operating costs increased to ¥57,812,555.10 from ¥56,979,130.03, reflecting an increase of about 1.5% year-over-year[18] Cash Management - Cash outflow for purchasing goods and services was CNY 11,520,397.74, an increase of 31.5% from CNY 8,782,504.20 in the previous period[20] - Cash outflow for financing activities was CNY 719,343.78, a significant decrease of 87.7% compared to CNY 5,845,862.07 in the prior period[21] - Total cash outflow for investment activities was CNY 976,196.36, down 53.7% from CNY 2,103,168.58 in the previous period[20] Audit Status - The first quarter report was not audited, indicating potential areas for further scrutiny in financial reporting[22]

Summary of Key Points Core Viewpoints - The report highlights the ongoing trend of stock suspensions due to delisting risk warnings across multiple companies, indicating a potential downturn in market confidence and stability [2][3][4]. Company Listings - Several companies are scheduled for initial public offerings (IPOs) on April 29, 2025, including Tai Li Technology (301595) and Ze Run New Energy (301636), which may attract investor interest [1]. - The report notes the specific dates for various IPO-related activities, such as inquiry periods and fund unfreezing dates, which are crucial for market participants [1]. Stock Suspension Announcements - Numerous companies, including Guohua Network Security (000004) and Nanhua Biology (000504), have announced stock suspensions due to delisting risk warnings, reflecting a significant concern regarding their financial health [2][3]. - The report lists a total of 30 companies facing stock suspensions on April 29, 2025, due to various risk warnings, which may impact investor sentiment and trading volumes [2][3][4]. Special Suspensions - Companies like *ST Xu Lan (000040) and *ST Gong Zhi (000584) are highlighted for potential termination of listings, indicating severe financial distress and regulatory scrutiny [4][5]. - The report emphasizes the importance of monitoring these companies as their situations evolve, which could present both risks and opportunities for investors [4][5].

股票代码： 0 0 0 5 1 8 股票简称：四环生物 公告编号：临 - 2025 - 2 5 号 一、召开会议基本情况 1．会议召集人：公司第十届董事会。 2．本次股东大会会议召开符合法律、法规及本公司章程的有关规定。 本公司第十届董事会于2025年4月27日召开第十次董事会会议，审议通过了 关于公司召开2024年年度股东大会的议案。 3．会议召开日期和时间： 现场会议召开时间：2025 年 5 月 21 日（星期三）下午 14:30。 网络投票时间：2025年5月21日。其中，通过深圳证券交易所交易系统进行 网络投票的时间为2025年5月21日上午9:15-9:25，9:30-11:30；下午13:00-15:00； 通过深圳证券交易所互联网系统投票的具体时间为2025年5月21日9:15-15:00的 任意时间。 4．会议召开方式：本次股东大会采取现场与网络投票相结合的方式。 江苏四环生物股份有限公司 关于召开 2024 年年度股东大会通知 本公司及其董事、监事、高级管理人员保证公告内容真实、准确和完整，公 告不存在虚假记载、误导性陈述或者重大遗漏。 5．出席对象： （1）截至 2025 年 5 月 1 ...

本议案需提交公司股东大会审议。 二、审议通过了《2024 年度监事会工作报告》； 具体内容详见披露于巨潮资讯网上的《2024 年度监事会工作报告》。 表决结果：同意 3 票，反对 0 票，弃权 0 票。 股票代码： 0 0 0 5 1 8 股票简称：四环生物 公告编号：临 - 2025 - 1 9 号 江苏四环生物股份有限公司 第十届监事会第九次会议决议公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 误导性陈述或者重大遗漏 江苏四环生物股份有限公司第十届监事会第九次会议于2025年4月27日在本公 司会议室以现场结合通讯的方式召开，本公司于2025年4月17日以通讯发布了召开 监事会的通知。会议应到监事3人，实到3人，分别为朱春芳、徐立科、韩明娣。会 议符合《公司法》和《公司章程》的有关规定，会议由监事会主席朱春芳主持，经 与会监事审议，通过如下决议： 一、审议通过了《2024 年年度报告全文及摘要》； 表决结果：同意 3 票，反对 0 票，弃权 0 票。 本议案需提交公司股东大会审议。 三、审议通过了《2024 年度财务决算报告》； 表决结果：同意 3 票，反对 0 票，弃权 0 ...

股 票 代 码 ： 0 0 0 5 1 8 股 票 简 称 ： 四 环 生 物 公告编号：临 - 2025 - 1 8 号 江苏四环生物股份有限公司 第十届董事会第十次会议决议公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、误导性陈述或 者重大遗漏 2025 年 4 月 27 日在本公司会议室以现场结合通讯的方式召开了第十届董事 会第十次会议。本公司于 2025 年 4 月 17 日以通讯方式发布了召开董事会的通知。 出席会议董事应到 5 名，实到 5 名，分别为郭煜、文军、刘卫、吴良卫、王莉。 本次会议符合《公司法》和《公司章程》有关规定，形成的决议合法、有效。 经与会董事审议，通过以下决议及议案： 一、审议通过了《2024年年度报告全文及摘要》； 《2024年年度报告全文》具体内容同日披露于巨潮资讯网 （http://www.cninfo.com.cn）；《2024年年度报告摘要》同日披露于《中国证 券报》、《证券时报》、《证券日报》及巨潮资讯网。 1 表决结果：同意5票，反对0票，弃权0票。 表决结果：同意5票，反对0票，弃权0票。 本议案需提交公司股东大会审议。 二、审议通过 ...

股 票 代 码 ： 0 0 0 5 1 8 股 票 简 称 ： 四 环 生 物 公告编号：临 - 2025 - 2 1 号 江苏四环生物股份有限公司 关于 2024 年度拟不进行利润分配的专项说明 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 江苏四环生物股份有限公司（以下简称"公司"）于 2025 年 4 月 27 日召 开的第十届董事会第十次会议及第十届监事会第九次会议分别审议通过了《关于 2024 年度利润分配预案的议案》，该议案尚需提交公司 2024 年年度股东大会审 议，现将基本情况公告如下： 一、2024 年度利润分配预案的基本情况 经中审亚太会计师事务所（特殊普通合伙）审计，公司2024年度归属于上市 公司股东的净利润为-109,993,675.02元，母公司的净利润为-9,886,467.89元。 依据《公司法》和《公司章程》的规定，以母公司实现的净利润为基础，提取法 定公积金0元。截至2024年12月31日，公司合并报表未分配利润为 -731,885,671.41元，母公司报表未分配利润为-473,316,526.75元，不具备利润 分配的 ...