Core Viewpoint - The A-share market is witnessing a critical "survival race" as companies face delisting risks due to financial indicators set by the new "National Nine Articles," which include negative profit totals, net profits, and insufficient revenue [2][4]. Group 1: Companies Facing Delisting Risks - *ST Jinglun is experiencing a severe decline, with nine consecutive trading days of limit-down, and a significant drop in trading volume to less than 5 million yuan, as it faces delisting expectations [2]. - Other companies like *ST Dongjing and *ST Huarong are attempting various strategies such as asset restructuring and debt waivers to avoid delisting, focusing on key financial indicators like revenue exceeding 300 million yuan or turning net assets positive [2][4]. Group 2: Financial Performance and Strategies - The new regulations increased the revenue threshold for delisting from 100 million yuan to 300 million yuan, prompting companies to strive for this new target to avoid delisting risks [4]. - *ST Jinglun is attempting to incorporate new business lines into its main revenue stream, while *ST Dongjing is projecting a revenue increase to between 340 million and 370 million yuan, surpassing the 300 million yuan threshold [6][8]. Group 3: Specific Company Actions - *ST Jinglun's revenue forecast for 2025 is approximately 338 million yuan, but after excluding non-core business income, the adjusted revenue is only about 86.22 million yuan, indicating a failure to turn a profit [6][7]. - *ST Huarong expects to achieve a net profit of between 6.5 million and 8 million yuan for 2025, aided by a 30% increase in revenue from its subsidiary, which it acquired a larger stake in [10]. Group 4: Market Reactions and Future Outlook - The market is closely monitoring companies that have narrowly met the revenue thresholds, with concerns about the sustainability of these figures and the potential for revenue adjustments post-audit [11][12]. - Companies are increasingly resorting to mergers and acquisitions as a strategy to enhance their financial performance and meet the new revenue requirements [10][15].

格隆汇2月5日丨*ST绿康(002868.SZ)公布，公司控股的孙公司福建绿安生物肥料有限公司于2026年2月5 日收到浦城县市场监督管理局出具的注销登记通知书，绿安生物肥料已完成注销手续。 ...

绿康生化股份有限公司 关于注销孙公司的公告 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。 一、注销情况 绿康生化股份有限公司（以下简称"公司"或"绿康生化"）控股的孙公司 福建绿安生物肥料有限公司（以下简称"绿安生物肥料"）于 2026 年 2 月 5 日 收到浦城县市场监督管理局出具的注销登记通知书，绿安生物肥料已完成注销手 续。 二、注销主体基本情况 1、公司名称：福建绿安生物肥料有限公司 证券代码：002868 证券简称：*ST 绿康 公告编号：2026-009 8、经营范围：许可项目：肥料生产(依法须经批准的项目,经相关部门批准后 方可开展经营活动，具体经营项目以相关部门批准文件或许可证件为准) 一般项目：肥料销售；生物有机肥料研发；土壤与肥料的复混加工；复合微 生物肥料研发；化肥销售；技术服务、技术开发、技术咨询、技术交流、技术转 让、技术推广；科技推广和应用服务；技术推广服务；货物进出口(除依法须经 批准的项目外，凭营业执照依法自主开展经营活动) 9、股权结构：公司控股子公司福建绿安生物农药有限公司持有绿安生物肥 料 100%股权。 1 三、注销 ...

Core Viewpoint - The animal health sector experienced a rise of 1.15% on February 3, with *ST Green康 leading the gains, while the overall market indices also showed positive performance [1]. Group 1: Market Performance - The Shanghai Composite Index closed at 4067.74, up by 1.29% [1]. - The Shenzhen Component Index closed at 14127.1, up by 2.19% [1]. Group 2: Individual Stock Performance - *ST Green康 (002868) closed at 36.70, with a gain of 3.29% and a trading volume of 11,000 lots, amounting to 39.61 million yuan [1]. - 回盛生物 (300871) closed at 28.30, up by 2.83%, with a trading volume of 166,400 lots and a turnover of 467 million yuan [1]. - 大禹生物 (920970) closed at 8.14, increasing by 2.13%, with a trading volume of 23,300 lots and a turnover of 18.92 million yuan [1]. - 普莱柯 (603566) closed at 14.00, up by 2.04%, with a trading volume of 66,100 lots and a turnover of 91.87 million yuan [1]. - 驱动力 (920275) closed at 9.15, increasing by 1.78%, with a trading volume of 14,900 lots and a turnover of 13.61 million yuan [1]. - 永顺生物 (920729) closed at 9.43, up by 1.73%, with a trading volume of 52,100 lots and a turnover of 48.48 million yuan [1]. - 科前生物 (688526) closed at 16.18, increasing by 1.25%, with a trading volume of 29,000 lots and a turnover of 46.60 million yuan [1]. - 申联生物 (688098) closed at 9.45, up by 0.96%, with a trading volume of 29,700 lots and a turnover of 27.90 million yuan [1]. - 生物股份 (600201) closed at 16.42, increasing by 0.86%, with a trading volume of 400,700 lots and a turnover of 655 million yuan [1]. - 瑞普生物 (300119) closed at 19.16, up by 0.63%, with a trading volume of 60,400 lots and a turnover of 115 million yuan [1]. Group 3: Capital Flow - The animal health sector saw a net outflow of 155 million yuan from institutional investors, while retail investors contributed a net inflow of 119 million yuan [2]. - The main capital flow data indicates that 中牧股份 (600195) had a net inflow of 5.91 million yuan from institutional investors [3]. - 普莱柯 (603566) experienced a net inflow of 5.90 million yuan from institutional investors, while retail investors had a net outflow of 12.09 million yuan [3]. - *ST Green康 (002868) had a net inflow of 2.82 million yuan from institutional investors, with retail investors contributing a net inflow of 2.25 million yuan [3].

Core Viewpoint - The animal health sector experienced a slight decline of 0.23% on January 30, with Jinhe Biological leading the drop. The Shanghai Composite Index closed at 4117.95, down 0.96%, while the Shenzhen Component Index closed at 14205.89, down 0.66% [1]. Group 1: Stock Performance - The closing prices and performance of key stocks in the animal health sector showed varied results, with Huisheng Biological rising by 3.51% to 29.46, while Jinhe Biological fell by 2.98% to 6.51 [1][2]. - The trading volume for Huisheng Biological was 303,100 shares, with a transaction value of 901 million yuan, indicating strong market interest [1]. Group 2: Capital Flow - The animal health sector saw a net inflow of 59.82 million yuan from institutional investors, while retail investors experienced a net outflow of 81.83 million yuan, indicating a shift in investor sentiment [2][3]. - Among individual stocks, Huisheng Biological attracted a significant net inflow of 1.23 billion yuan from institutional investors, while Jinhe Biological faced a net outflow of 543.32 million yuan [3].

Core Viewpoint - The animal health sector experienced a slight decline of 0.2% on January 28, with Yongshun Biological leading the drop, while the overall market indices showed minor gains [1]. Group 1: Market Performance - The Shanghai Composite Index closed at 4151.24, up by 0.27% [1]. - The Shenzhen Component Index closed at 14342.9, up by 0.09% [1]. - The animal health sector's performance is summarized in a table showing individual stock movements, with notable gainers including Biological Shares and Jinhai Biological, which rose by 1.51% and 1.49% respectively [1]. Group 2: Stock Performance - Yongshun Biological saw a significant decline of 7.49%, closing at 10.13, with a trading volume of 141,500 shares and a turnover of 145 million yuan [2]. - Other notable decliners included Shoufeng Holdings and Haili Biological, which fell by 2.21% and 2.08% respectively [2]. - The trading volume and turnover for various stocks in the animal health sector are detailed, indicating varied investor interest [2]. Group 3: Capital Flow - The animal health sector experienced a net inflow of 18.02 million yuan from institutional investors, while retail investors saw a net inflow of 9.33 million yuan [2]. - However, there was a net outflow of 27.35 million yuan from speculative funds, indicating a mixed sentiment among different investor types [2]. - A detailed table shows the net capital flow for individual stocks, highlighting significant movements in and out of various companies [3].

Core Viewpoint - The company, *ST Green Health, is expected to report a negative net profit for the fiscal year 2025, marking the first accounting year after the implementation of financial delisting risk warning on its stock [1][10]. Group 1: Performance Forecast - The performance forecast period is from January 1, 2025, to December 31, 2025, with an anticipated net profit being negative [1]. - The company has completed a significant asset restructuring, transferring 100% equity of three subsidiaries to another company, which will affect the financial results [2]. Group 2: Communication with Auditors - The company has communicated with its auditing firm regarding the performance forecast, and there are no significant disagreements as of the announcement date [3]. Group 3: Reasons for Performance Changes - The main reason for the performance change is the separation of the loss-making photovoltaic film business, which will no longer be included in the consolidated financial statements [4]. - Despite the expected loss, the veterinary medicine business has seen revenue growth, primarily from higher-margin products, leading to an overall improvement in gross margin compared to 2024 [4]. Group 4: Risk of Delisting - The company reported a negative net asset value of -24,536,065.37 yuan as of the end of 2024, triggering a delisting risk warning [10][14]. - The net profits attributable to shareholders for 2022, 2023, and 2024 were -121,938,109.79 yuan, -221,817,878.58 yuan, and -444,864,018.29 yuan respectively, indicating a continuous decline [11][14]. - If the company’s financial indicators trigger delisting rules again in 2025, the stock may face termination of listing [24]. Group 5: Audit Progress - The auditing firm, Lixin, has been conducting the 2025 annual audit since November 2025, and there are no major disagreements on significant accounting treatments or key audit matters [25][26]. - The company is actively progressing with the preparation and auditing of the 2025 annual report [25].

Core Viewpoint - *ST Lvkang (002868.SZ) expects a net profit attributable to shareholders of the listed company to be between -140 million and -125 million yuan for 2025, with operating revenue projected to be between 500 million and 515 million yuan [1] Group 1: Financial Performance - The main reason for the company's performance change this year is the expected positive equity attributable to shareholders due to the divestiture of the severely loss-making photovoltaic film business in 2025, which will no longer be included in the consolidated financial statements [1] - The net profit attributable to shareholders is still expected to be a loss primarily due to the losses incurred by the photovoltaic film business before its divestiture, which accounted for over 90% of the losses [1] - The veterinary medicine business has seen revenue growth this year, mainly driven by higher-margin products and an optimized product structure, resulting in an overall improvement in gross margin compared to 2024 [1]

格隆汇1月27日丨*ST绿康(002868.SZ)公布，预计2025年归属于上市公司股东的净利润-14,000万元 ～-12,500万元，扣除非经常性损益后的净利润-14,000万元～-12,900万元，营业收入50,000万元～51,500 万元。 公司本年业绩变动的主要原因是：1、公司本年归属于上市公司股东的所有者权益转正主要原因系2025 年将亏损严重的光伏胶膜业务剥离，剥离后光伏胶膜子公司不再纳入上市公司合并报表范围。2、本年 归属于上市公司股东的净利润仍为亏损主要系由光伏胶膜业务在剥离前的亏损导致，光伏胶膜子公司的 亏损占比在90%以上。3、本年兽药业务收入有所增长，增长部份主要来源于毛利较高产品，加上产品 结构的优化，整体毛利率水平较2024年有所提升。 ...

证券代码：002868 证券简称：*ST绿康 公告编号：2026-008 绿康生化股份有限公司 关于股票可能被终止上市的第一次风险提示暨年度 报告编制及审计进展的公告 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。 1、公司 2024 年经审计期末净资产为-24,536,065.37 元，触及《深圳证券交易 所股票上市规则》第 9.3.1 条(二)"最近一个会计年度经审计的期末净资产为负值" 规定的对公司股票实施退市风险警示的情形，公司股票于 2025 年 4 月 30 日被实 施退市风险警示（股票简称前冠以"*ST"字样）。 2、公司 2022 年、2023 年、2024 度经审计的归属上市公司股东的净利润分 别为-121,938,109.79 元、-221,817,878.58 元、-444,864,018.29 元，扣除非经常性 损益后归属上市公司股东的净利润分别为-123,209,841.64 元、-230,781,881.03 元、 -464,471,065.98 元，最近连续三个会计年度扣除非经常性损益前后净利润均为负 值，且 2024 年被出具" ...