Core Viewpoint - ST Jingfeng's capital fate has reached a critical turning point as the Hunan Changde Intermediate People's Court has officially accepted creditors' restructuring applications, marking a significant step in the company's efforts to survive amidst financial difficulties [2][8]. Group 1: Company Background and Financial Performance - ST Jingfeng, originally a subsidiary of Yibai Pharmaceutical, once thrived with peak sales exceeding 1 billion yuan, particularly driven by its core product, the Ginkgo Biloba Glucose Injection [3]. - The company experienced a dramatic decline in revenue starting in 2019, with a nearly 50% drop in operating income and over 70% decline in injection product revenue, leading to continuous losses over five years [5]. - Cumulatively, from 2019 to 2023, ST Jingfeng reported losses of nearly 2.4 billion yuan, with a skyrocketing asset-liability ratio of 114.49% by the end of 2023, indicating a severe liquidity crisis [6]. Group 2: Stock Market Performance - Despite its poor financial performance, ST Jingfeng's stock exhibited extreme volatility, achieving 46 trading limits in 54 days from July 2 to September 13, 2024, with a cumulative increase of over 500% during this period [7][8]. Group 3: Restructuring Process - The court's acceptance of the restructuring application signifies the transition from a year-long pre-restructuring phase to a substantive restructuring process, making ST Jingfeng the seventh A-share company to receive a restructuring approval in 2024 [8]. - The restructuring plan involves Shiyao Group investing 526 million yuan for controlling stakes, with an additional 122 million yuan from a local state-owned platform, totaling 648 million yuan [9]. Group 4: Strategic Implications for Shiyao Group - Shiyao Group's involvement as the lead investor in the restructuring is pivotal, as it aims to enhance its oncology product pipeline, which has faced declining sales in recent years [10][11]. - The acquisition of ST Jingfeng's assets, particularly in the field of anti-tumor plant drugs, is expected to fill gaps in Shiyao Group's product matrix and strengthen its market position [11][12].

证券代码：000908 证券简称：*ST景峰 公告编号：2025-076 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。 重要内容提示： 湖南景峰医药股份有限公司（以下简称"景峰医药"或者"公司"）于 2025 年 10 月 21 日收到湖南省常德市中级人民法院（以下简称"常德中院"或者"法院"） 送达的（2024）湘 07 破申 7 号《民事裁定书》和（2025）湘 07 破 15 号《决定书》， 裁定受理彭东钜、上海鑫绰投资管理有限公司（以下统称"申请人"）对公司的重 整申请，并指定北京市中伦律师事务所担任公司管理人。详见公司于同日披露的《关 于法院裁定受理公司重整并指定管理人及公司股票交易将被实施退市风险警示暨公 司股票停复牌并变更证券简称的公告》（公告编号：2025-075）。 公司债权人应在 2025 年 11 月 23 日（含当日）前向管理人申报债权，并提供相 关证据材料。债权人在预重整期间进行的债权申报继续有效，无需再行申报。 管理人将根据相关法律法规开展公司重整相关工作，通知各债权人及时申报债 权并参加债权人会议。现将具体情况通知如下： 一、债 ...

Group 1 - ST Jingfeng (000908) will be subject to delisting risk warning starting October 23, 2025, due to the acceptance of a reorganization application by the Changde Intermediate People's Court [1] - The stock will be renamed to "*ST Jingfeng" with a daily price fluctuation limit of 5%, and it will be suspended for one day on October 22, 2025 [1] - As of the end of 2023, ST Jingfeng reported negative net assets and faced liquidity issues, leading to overdue bonds and previous delisting risk warnings [1] Group 2 - Yushu Technology has completed the first phase of its IPO guidance work, with the report published on the CSRC website detailing the progress [3][5] - The guidance period started on July 18, 2025, and aims to improve corporate governance and operational standards [5] - Yushu Technology plans to submit its IPO application documents between October and December 2025, with relevant operational data to be disclosed at that time [6] Group 3 - The Yushu Robotics concept stocks have shown strong performance this year, with an average price increase of 71.37%, significantly outperforming the Shanghai Composite Index [7] - Notable stocks include Zhejiang Rongtai, Wolong Electric Drive, and Zhongdali De, with year-to-date price increases of 316.38%, 240.73%, and 202.54% respectively [8] - Companies like Aobi Zhongguang-UW have reported positive earnings forecasts, benefiting from advancements in the 3D vision perception industry and expanding application scenarios [9]

Core Viewpoint - ST Jingfeng (000908.SZ) has announced that the Changde Intermediate People's Court in Hunan Province has accepted the creditors' application for the company's reorganization, with Beijing Zhonglun Law Firm appointed as the administrator [2] Group 1 - The court's decision to accept the reorganization application was made on October 21, 2025 [2] - The company's stock will be suspended for one day starting from October 22, 2025, and will resume trading on October 23, 2025 [2] - The stock's name will change to "*ST Jingfeng," while the security code will remain "000908," with a daily price fluctuation limit of 5% [2]

Core Points - ST Jingfeng (000908.SZ) has received a civil ruling from the Changde Intermediate People's Court, which has accepted the creditors' application for the company's reorganization [1] - The court has appointed Beijing Zhonglun Law Firm as the administrator for the company [1] - As a result of the court's ruling, the company's stock will be subject to delisting risk warning starting from October 23, 2025, with the stock name changing to "*ST Jingfeng" while the stock code remains "000908" [1] - The stock will be suspended for one day on October 22, 2025, and will resume trading on October 23, 2025 [1]

ST景峰表示，因常德中院依法裁定受理债权人对公司的重整申请，根据《深圳证券交易所股票上市规 则》第9.4.1条第（九）项的规定，公司股票交易将于10月23日被实施退市风险警示，股票简称变更 为"*ST景峰"。公司股票将于10月22日开市起停牌一天，自10月23日开市起复牌。 北京商报讯（记者 丁宁）10月21日晚间，ST景峰（000908）发布公告称，10月21日，公司收到湖南省 常德市中级人民法院（以下简称"常德中院"）送达的《民事裁定书》，常德中院裁定受理债权人对公司 的重整申请。同日，公司收到常德中院送达的《决定书》，常德中院指定北京市中伦律师事务所担任公 司管理人。 ...

Core Viewpoint - Company ST Jingfeng has received a court ruling accepting a restructuring application from creditors, indicating potential financial distress and the initiation of a formal restructuring process [1] Group 1: Legal Proceedings - The Changde Intermediate People's Court in Hunan Province has accepted the restructuring application for the company [1] - Beijing Zhonglun Law Firm has been appointed as the administrator for the company's restructuring [1] Group 2: Stock Market Impact - According to the Shenzhen Stock Exchange listing rules, the company's stock will be subject to delisting risk warning starting from October 23, 2025, with the stock name changing to "*ST Jingfeng" [1] - The stock code will remain "000908," and the daily price fluctuation limit will continue to be 5% [1] - The company's stock will be suspended for trading on October 22, 2025, and will resume trading on October 23, 2025 [1]

Core Viewpoint - ST Jingfeng (000908) announced that the Changde Intermediate People's Court has accepted the creditors' application for the company's reorganization, leading to a risk warning for the company's stock, which will be renamed "*ST Jingfeng" starting October 23 [1] Summary by Relevant Sections - **Stock Trading and Suspension** - The company's stock will be subject to a delisting risk warning effective October 23, with a new trading name "*ST Jingfeng" [1] - The stock will be suspended from trading on October 22 and will resume trading on October 23 [1] - **Market Regulations** - The daily price fluctuation limit for the stock remains at 5% [1]

证券代码：000908 证券简称：ST景峰 公告编号：2025-075 湖南景峰医药股份有限公司 关于法院裁定受理公司重整并指定管理人及公司股票交易 将被实施退市风险警示暨公司股票停复牌并变更证券简称 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。 特别提示： 1、2025 年 10 月 21 日，湖南景峰医药股份有限公司（以下简称"公司"或"景 峰医药"）收到湖南省常德市中级人民法院（以下简称"常德中院"或"法院"） 送达的（2024）湘 07 破申 7 号《民事裁定书》，常德中院裁定受理债权人对公司的 重整申请。同日，公司收到常德中院送达的（2025）湘 07 破 15 号《决定书》，常 德中院指定北京市中伦律师事务所担任公司管理人。 2、由于公司最近三个会计年度扣除非经常性损益前后净利润孰低者均为负值， 且最近一年审计报告显示公司持续经营能力存在不确定性，公司股票被实施其他风 险警示，具体内容详见公司于 2025 年 6 月 13 日在巨潮资讯网披露的《关于撤销退 市风险警示及部分其他风险警示暨继续被实施其他风险警示暨公司股票停复牌的公 告》（公 ...

Core Viewpoint - ST Jinfeng (000908.SZ) has received a court ruling from Changde Intermediate Court accepting the creditors' restructuring application, indicating significant financial distress and potential operational changes for the company [1] Group 1: Court Ruling and Restructuring - The Changde Intermediate Court has accepted the creditors' restructuring application for ST Jinfeng, appointing Beijing Zhonglun Law Firm as the administrator [1] - The court's decision is documented in the civil ruling (2024) Xiang 07 Po Shen 7 and the decision (2025) Xiang 07 Po 15 [1] Group 2: Stock Market Implications - Following the court's ruling, ST Jinfeng's stock will be subject to delisting risk warning, effective from October 23, 2025, with the stock name changing to "*ST Jinfeng" while the security code remains "000908" [1] - The daily price fluctuation limit for the stock will continue to be set at 5% [1] - The stock will be suspended from trading on October 22, 2025, and will resume trading on October 23, 2025 [1]