Core Viewpoint - Two A-share listed companies, ST Tiexin and ST Zhongli, are set to remove their risk warnings and change their stock names, indicating a recovery from previous financial issues [2][6]. Group 1: ST Tiexin - ST Tiexin announced that its stock will be suspended for one day starting July 8, 2025, and will resume trading on July 9, 2025, with its name changing from "ST Tiexin" to "Tefa Information" [2]. - The stock will have its trading limit increased from 5% to 10% starting July 9, 2025 [2]. - The company received an administrative penalty notice from the China Securities Regulatory Commission (CSRC) on May 10, 2024, due to false financial disclosures, but has since corrected its financial statements for 2015-2019 [5]. - The company has met the conditions for the removal of risk warnings after 12 months from the administrative penalty decision [5][6]. Group 2: ST Zhongli - ST Zhongli will also suspend its stock for one day on July 8, 2025, and will resume trading on July 9, 2025, with its name changing from "ST Zhongli" to "Zhongli Group" [6]. - Similar to ST Tiexin, the trading limit will increase from 5% to 10% starting July 9, 2025 [6]. - The company received an administrative penalty notice on May 13, 2024, and has corrected its financial statements for 2013-2021 due to previous accounting errors [8]. - Non-operating fund occupation issues amounting to 680 million yuan have been resolved through cash donations, and 1.125 billion yuan has been cleared through creditor waivers [8][9]. - The company has rectified issues related to illegal guarantees and has received legal opinions confirming the resolution of these matters [9][10].

证券代码：002309 证券简称：ST中利 公告编号：2025-076 江苏中利集团股份有限公司 关于撤销其他风险警示暨停复牌的公告 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： 二、公司股票被实施其他风险警示的情况 公司于 2024 年 5 月 13 日收到中国证券监督管理委员会（以下简称"中国证 监会"）下发的《行政处罚及市场禁入事先告知书》，触及《深圳证券交易所股 票上市规则》（以下简称"《上市规则》"）9.8.1 条第（八）项规定，公司股 1.江苏中利集团股份有限公司（以下简称"公司"）股票自 2025 年 7 月 8 日 开市起停牌一天，并于 2025 年 7 月 9 日开市起复牌。 2.公司股票自 2025 年 7 月 9 日开市起撤销其他风险警示，公司股票简称由 "ST 中利"变更为"中利集团"，股票代码仍为"002309"，股票交易日的涨跌 幅限制由"5%"变为"10%"。 一、股票种类、简称、股票代码、停复牌安排以及撤销其他风险警示的起始 日 1.股票种类：人民币普通股； 2.股票简称：由"ST 中利"变更为"中利集团"； 3. ...

Meeting Overview - The seventh board meeting of Jiangsu Zhongli Group Co., Ltd. was held on July 4, 2025, via communication, chaired by Chairman Xu Jiagana, in compliance with the Company Law and Articles of Association [1] Resolutions Passed - The board approved the proposal to apply for the removal of other risk warnings on stock trading, with the application to be submitted to the Shenzhen Stock Exchange on July 7, 2025 [1] - The company has rectified the issues related to the administrative penalty and has made necessary adjustments to financial statements from 2013 to 2021, as disclosed in the announcement on April 22, 2025 [2] - Non-operating fund occupation by the former controlling shareholder has been resolved through agreements with creditors, totaling 112.48 million yuan [2] - The company has addressed issues related to illegal guarantees through a restructuring investment agreement, with compensation from industry investors [3] Compliance and Audit - The company received a standard unqualified audit report for the 2024 fiscal year, confirming compliance with relevant regulations [3] - The company meets the conditions for applying to revoke other risk warnings, having rectified the issues and waited the required twelve months since the administrative penalty decision [3] Financial Provisions - The company has adequately provisioned for potential liabilities related to securities false statements, estimating around 16.5 million yuan based on third-party assessments [4] Charitable Contributions - The board approved a donation of 300,000 yuan to the China Workers Development Foundation to support the training of high-quality talents in the wire and cable industry [4] Future Actions - The application for the removal of other risk warnings is subject to review by the Shenzhen Stock Exchange, and the company will disclose updates as necessary [4]

1.公司股票被实施其他风险警示的情况 证券代码：002309 证券简称：ST中利 公告编号：2025-075 江苏中利集团股份有限公司 第七届董事会 2025 年第四次临时会议决议公告 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、会议召开情况 江苏中利集团股份有限公司（以下简称"公司"）2025 年 7 月 2 日以通讯方 式通知公司第七届董事会成员于 2025 年 7 月 4 日以通讯方式召开第七届董事会 2025 年第四次临时会议，会议如期召开。本次会议应到董事 9 名，出席会议董 事 9 名。会议由董事长许加纳先生主持，会议的召开符合《公司法》和《公司章 程》的有关规定。 二、会议审议情况 （一）审议通过了《关于申请撤销其他风险警示的议案》； 经审议，董事会同意公司于2025年7月7日向深圳证券交易所申请撤销股票交 易其他风险警示。具体情况如下： 针对非经营性资金占用，原控股股东及其关联方非经营性资金占用 68,035.71万元已通过现金捐赠方式获得清偿；根据公司、公司子公司分别与相 关债权人签署的已经发生效力的相关代为履行协议及确认函，原控股股 ...

Core Viewpoint - The article discusses the surge of local state-owned enterprises (SOEs) acquiring publicly listed companies in 2025, highlighting the strategic logic and market effects behind these moves [2][3]. Group 1: Acquisition Trends - Since 2025, there have been 20 cases of control changes due to local SOE acquisitions, marking a historical high [5]. - Local SOEs are increasingly targeting small to medium-sized enterprises, with 80% of acquired companies having a market value below 100 billion yuan [5]. - The trend reflects a shift in local government strategies from traditional incentives to more targeted acquisitions aligned with local industrial maps [5][7]. Group 2: Industry and Regional Focus - The most active regions for acquisitions include Jiangsu, Zhejiang, and Anhui, with a notable number of cross-regional acquisitions [7]. - Traditional industries remain a focus, with significant activity in sectors like basic chemicals, machinery, and non-ferrous metals [9][11]. - Local SOEs prefer manufacturing projects, particularly in automotive parts, which can drive local fixed asset investments [11]. Group 3: Motivations and Challenges - Local SOEs aim to enhance their investment capabilities and optimize corporate ratings through acquisitions, which can alleviate fiscal pressures [19]. - However, challenges arise from misaligned industry knowledge and management conflicts, often leading to poor integration and operational issues post-acquisition [21][22]. - The article emphasizes the need for a balanced approach to acquisitions, suggesting collaboration with industry capital to mitigate risks and enhance management expertise [23].

Core Viewpoint - Jiangsu Zhongli Group Co., Ltd. has successfully applied to lift the delisting risk warning and some other risk warnings, with its stock trading resuming on June 4, 2025, under the new name "ST Zhongli" [9][10][11]. Group 1: Financial Performance and Audit - The company reported a net asset value of 1.42 billion yuan at the end of 2024, with an operating income of 2.358 billion yuan for the same year [14]. - The company has received a standard unqualified audit report for its 2024 financial statements, indicating improved financial health [15]. - The company has addressed previous issues that led to negative audit opinions, including internal control deficiencies and continuous losses over the past three years [15][17]. Group 2: Client Relationships and Business Operations - The company’s top five clients accounted for 44.71% of total annual sales, with no significant changes in the customer base except for the loss of two major clients due to the divestment of a subsidiary [2][3]. - The company’s special cable business focuses on various products, including fire-resistant cables for communication and power supply, and has maintained a stable customer group [2][3]. - The company confirmed that there are no related party transactions or conflicts of interest with its top clients [4][5]. Group 3: Regulatory Compliance and Risk Warnings - The company’s stock was previously subject to delisting risk warnings due to negative net assets and internal control audit issues, but these have been resolved [12][13]. - The company continues to face other risk warnings related to regulatory actions, which will remain until certain conditions are met [17]. - The stock trading will be subject to a daily price limit of 5% following the resumption of trading [10][11].

Core Viewpoint - The company has undergone significant restructuring to address previous internal control deficiencies, including related party fund occupation and illegal guarantees, leading to a positive outlook for its financial stability and operational continuity. Group 1: Internal Control and Audit Findings - The company received a negative internal control audit opinion in 2023 due to unresolved issues related to related party fund occupation and illegal guarantees [2][3] - The company has completed the necessary rectifications and received a standard unqualified opinion for its internal control audit for 2024, indicating effective internal controls [6][7] - The audit procedures included testing the effectiveness of internal controls related to fund management and contract approval processes, with a minimum testing frequency established [4][5] Group 2: Financial Performance and Restructuring - The company’s asset-liability ratio improved from 107.32% at the end of 2023 to 74.44% at the end of 2024, indicating a significant reduction in debt levels [8] - The company reported a narrowed net loss of CNY 77.01 million in Q1 2025 compared to a loss of CNY 186.87 million in Q1 2024, suggesting a recovery in operations [8] - Cash and cash equivalents at the end of 2024 and Q1 2025 were CNY 123.38 million and CNY 825.66 million, respectively, indicating sufficient liquidity for operations [8] Group 3: Compliance and Regulatory Matters - The company has resolved previous non-operating fund occupation and illegal guarantee issues through its restructuring plan, with no new incidents reported in 2024 [7][10] - The company has complied with the requirements set by the China Securities Regulatory Commission (CSRC) regarding previous financial misstatements, and the impact of these issues has been eliminated [12][19] - The company has submitted an application to lift the delisting risk warning, asserting compliance with relevant stock exchange rules [13][19] Group 4: Asset Impairment and Losses - The company reported a total asset impairment loss of CNY 88.99 million for the reporting period, including inventory and fixed asset impairments [21][22] - Specific reasons for credit impairment losses were detailed, including issues with customer payments and project compliance [22][23] - The company has taken a cautious approach in recognizing impairment losses, reflecting ongoing challenges in the market and customer relationships [22][24]

Core Viewpoint - The company Jiangsu Zhongli Group Co., Ltd. has received a special verification opinion regarding its compliance with the Shenzhen Stock Exchange's regulations, indicating that it meets the conditions for the removal of delisting risk warnings due to improvements in its financial situation and internal controls [2][6][18]. Financial Performance - For the fiscal year 2024, the company reported a net asset value of 1.42 billion RMB, with an operating revenue of 2.358 billion RMB [8][18]. - The company’s 2024 financial statements received a standard unqualified audit opinion, indicating that previous issues related to going concern uncertainties and related party transactions have been resolved [6][8]. Compliance with Regulations - The company has confirmed that it meets the criteria for the removal of delisting risk warnings as per the revised stock listing rules, specifically Article 9.3.8, and does not fall under any conditions for mandatory delisting as outlined in Article 9.3.12 [9][18]. - The company has addressed previous concerns regarding internal control deficiencies and has received a standard unqualified opinion on its internal control audit for 2024 [15][18]. Risk Management - The company has successfully eliminated the significant uncertainties related to its ongoing operations and has resolved issues concerning the misuse of funds and guarantees [6][8][18]. - The company has taken necessary steps to ensure compliance with the Shenzhen Stock Exchange's requirements, including the submission of relevant documentation and reports to support its claims [12][18].

苏亚金诚会计师事务所（特殊普通合伙） 关于对江苏中利集团股份有限公司的问询函的回复 深圳证券交易所上市公司管理二部： 根据深圳证券交易所上市公司管理二部出具的《关于对江苏中利 集团股份有限公司 2024 年年报的问询函》（以下简称"问询函"）（公 司部年报问询函〔2025〕第 86 号）的要求，苏亚金诚会计师事务所 （特殊普通合伙）（以下简称本事务所或者苏亚金诚）对问询函中提 到的需要会计师核查并发表明确意见的问题进行了认真核查。现将有 关问题的核查情况说明如下： （本回复所引用的财务数据如无特殊说明，以万元为单位；部分合计 数与各明细数直接相加之和在尾数上如有差异，系由四舍五入的原因 所致） 1 问题 2. 你公司 2023 年内控审计报告被出具否定意见，涉及事项包括关联方资金占 用未整改到位、违规担保未整改到位等重大缺陷。根据你公司《关于申请撤销退 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的公告》，公司已在 重整过程中规范内部控制体系，完成对否定意见所涉事项的整改，审计机构对你 公司 2024 年度内部控制出具标准无保留意见的《内部控制审计报告》。请你公 司： （2）请年审机构说明是否根据《企 ...

地址：上海市长宁区仙霞路 99 号尚嘉中心 22 层、12 层 （200051） Add: 22F&12F, L'Avenue No.99 XianXia Rd, Changning District, Shanghai, PRC 电话 Tel: +86 21 23563298 传真Fax: +86 21 23563299 网址 Website：http://www.guantao.com 邮箱 Email: guantaosh@guantao.com 北京观韬（上海）律师事务所 关于 江苏中利集团股份有限公司 2024 年年报问询函相关事项的 专项核查意见 二零二五年五月 1 地址：上海市长宁区仙霞路 99 号尚嘉中心 22 层、12 层 （200051） Add: 22F&12F, L'Avenue No.99 XianXia Rd, Changning District, Shanghai, PRC 电话 Tel: +86 21 23563298 传真Fax: +86 21 23563299 网址 Website：http://www.guantao.com 邮箱 Email: guantaosh@gu ...