Summary of Key Points Core Insights - The report highlights the upcoming listings and trading activities of several companies on May 19, 2025, indicating a busy market day with multiple new entries [1][2][3]. Upcoming Listings - Company 001390 Guqi Fur Material will be available for online subscription on May 19, 2025 [1]. - Companies 301595 N Taili and 603014 N Weigao will officially list on the same day, with allocations for general institutional investors [1]. - Company 920060 Wanyuantong will also list on May 19, 2025, specifically for the public portion [1]. Suspension Announcements - Company 002092 ST Zhongtai and 002259 ST Shengda will be suspended for one day due to the announcement of the withdrawal of other risk warnings [2]. - The Invesco Great Wall S&P Consumer Select ETF (QDII) and Guotai S&P 500 ETF will also be suspended until 10:30 AM on May 19, 2025, to protect investor interests [2]. - Company 300506 *ST Mingjia will be suspended for one day following the announcement of the withdrawal of delisting risk warnings [2]. Special Suspensions - Company 000151 Zhongcheng Co. will be suspended due to plans for issuing shares to acquire assets and raise matching funds, effective from May 16, 2025 [3]. - Company 000584 *ST Gongzhi and 000622 *ST Hengli will also face suspensions due to potential delisting risks and failure to disclose periodic reports within the legal timeframe [3]. - Company 002336 *ST Renle will be suspended for one day due to the announcement of potential delisting risks [3].

特别提示： 1.青岛中资中程集团股份有限公司（以下简称"公司"）于 2025 年 4 月 30 日在巨潮资讯网披露了《2024 年年度报告》《审计报告》《内部控制审计报告》， 和信会计师事务所（特殊普通合伙）对公司 2024 年度财务报告出具了带与持续 经营相关的重大不确定性段落、强调事项段落的保留意见的审计报告，否定意见 的内部控制审计报告，公司已触及《深圳证券交易所创业板股票上市规则》第 10.3.11 条第（三）项、第（五）项情形。2025 年 5 月 7 日，公司收到深圳证券 交易所（以下简称"深交所"）下发的《终止上市事先告知书》（创业板函〔2025〕 第<120>号），深交所拟决定终止公司股票上市交易。具体内容详见公司于 2025 年 5 月 7 日在巨潮资讯网披露的《关于收到终止上市事先告知书的公告》（公告 编号：2025-046）。公司已于 2025 年 5 月 8 日向深交所提交了听证申请，若公 司参加了听证但深交所最终仍作出终止上市的决定，公司股票将被终止上市。 证券代码：300208 证券简称：*ST 中程 公告编号：2025-048 青岛中资中程集团股份有限公司 关于公司被立案调查的进 ...

Group 1 - The average stock price of A-shares is 11.51 yuan, with 60 stocks priced below 2 yuan, the lowest being *ST Jiyao at 0.21 yuan [1] - Among the low-priced stocks, 24 are ST stocks, accounting for 40% of the total [1] - The Shanghai Composite Index closed at 3367.46 points on May 16 [1] Group 2 - Among the low-priced stocks, 10 stocks increased in price, with *ST Jinguang, Puli Tui, and *ST Jinke leading with increases of 4.76%, 2.27%, and 1.97% respectively [1] - 33 stocks decreased in price, with ST Lingnan, *ST Xingguang, and *ST Baoying showing the largest declines of 5.23%, 4.88%, and 3.14% respectively [1] - The stock price distribution indicates that both high-priced and low-priced stocks constitute a relatively small proportion of the A-share market [1]

Group 1 - Since May, several companies including *ST Zhongcheng, *ST Renle, *ST Hengli, and *ST Gongzhi have announced receipt of termination of listing advance notice, indicating a trend of companies leaving the capital market [1][3] - As of May 12, 2025, a total of 10 companies have received termination of listing advance notices from the Shanghai and Shenzhen Stock Exchanges, with additional companies like *ST Puli and *ST Xulan also facing similar fates [1][3] - The new delisting regulations have been implemented, leading to the first annual report season under these rules, resulting in multiple companies being warned of delisting risks and several directly delisted [5] Group 2 - *ST Renle reported a net asset of -387 million yuan for 2023 and -404 million yuan for 2024, triggering termination of listing due to financial report issues [3] - *ST Hengli's 2023 net profit was negative, and its revenue was below 100 million yuan, leading to a delisting risk warning [3][4] - *ST Zhongcheng's 2023 net asset was also negative, and its 2024 financial report received a qualified opinion, resulting in a proposed termination of listing [3][4] Group 3 - A total of 9 companies have completed delisting in 2025, with reasons ranging from continuous low stock prices to major violations [6][7] - The companies that have delisted include *ST Meixun, Haitong Securities, and *ST Boxin, among others, with various reasons for their delisting [7][8] - The trend indicates a significant number of companies facing financial difficulties and regulatory challenges, leading to increased scrutiny and potential delisting [10] Group 4 - The Beijing Stock Exchange may see its first delisted company, with Guandao Digital and Yun Chuang Data facing delisting risks due to audit issues [9][10] - Both companies have received audit opinions that could lead to termination of listing if they continue to meet financial delisting criteria in 2025 [10] - A total of 96 companies in the A-share market have been warned of delisting risks due to various financial issues, indicating a broader trend of financial instability among listed companies [10]

Group 1 - Shengxiang Bio plans to increase its investment in Hunan Shengwei Kunteng Biotechnology Co., Ltd. by 100 million yuan to enhance its industrial chain layout in the POCT field, resulting in a 44.6441% stake in Shengwei Kunteng after the investment [1] - Yaguang Technology's subsidiary Chengdu Yaguang signed a product pre-production agreement worth 101 million yuan, accounting for 10.56% of the company's audited revenue for the last fiscal year [1] Group 2 - Chutianlong's shareholder plans to reduce its stake by up to 3%, equating to 13.83 million shares, due to personal funding needs [2] - Naipu Mining intends to invest up to 45 million USD in Swiss Veritas Resources AG, acquiring a 22.5% stake to extend its industrial chain [2][3] Group 3 - Diri Medical's shareholder plans to reduce its stake by up to 3%, totaling 814.83 thousand shares, due to funding needs [4] - Kangtai Medical's controlling shareholder plans to reduce its stake by up to 2.99%, equating to 12 million shares [5] Group 4 - Iwu Bio's controlling shareholder plans to transfer up to 450 thousand shares through block trading, representing 0.86% of the total share capital [7] - Guokai Hengtai's four shareholders plan to collectively reduce their stake by up to 4.7%, totaling 22.94 million shares [9] Group 5 - *ST Zhongcheng submitted a hearing application to the Shenzhen Stock Exchange in response to a delisting notice [10] - Donghua Software's actual controller and associated parties plan to reduce their stake by up to 1%, totaling 32.05 million shares [12] Group 6 - Shandong Molong's shareholder reduced its H-share holdings by 107 million shares, representing 13.39% of the total share capital [12] - Yinbang Co.'s shareholder plans to reduce its stake by up to 1%, totaling 821.92 thousand shares [13] Group 7 - Jinxinnong reported April sales of 10.65 million pigs, generating sales revenue of 139 million yuan, with an average selling price of 15.05 yuan per kilogram [14] - Dongfang Jiasheng purchased 9.54 million shares of Zhonggu Logistics for approximately 99.72 million yuan, representing 4.18% of the company's net assets [15] Group 8 - Linglong Tire's controlling shareholder received a financing commitment of up to 270 million yuan for stock repurchase [16] - Wuchan Jinlun's shareholder plans to reduce its stake by up to 3%, totaling 619.77 thousand shares [18] Group 9 - Pengyao Environmental's directors and executives plan to collectively reduce their stake by up to 0.07% [19] - Ruihu Mould's controlling shareholder plans to reduce its stake by up to 1.92%, totaling 401.89 thousand shares [20] Group 10 - Electric Alloy's shareholder plans to reduce its stake by up to 0.63%, totaling 210.88 thousand shares [22] - Shanghai Xinyang's controlling shareholder plans to reduce its stake by up to 0.64%, totaling 200 thousand shares [24] Group 11 - Sujiao Ke's controlling shareholder plans to acquire up to 2% of the company's shares from a fund [26] - Heyuan Bio's shareholders plan to reduce their stake by up to 1%, totaling 649.04 thousand shares [27]

Core Viewpoint - *ST Zhongcheng (300208), formerly known as Qingdao Zhongcheng, is facing delisting from the Shenzhen Stock Exchange due to significant financial misconduct and negative net assets [1][3] Group 1: Delisting Announcement - On May 7, *ST Zhongcheng received a notice from the Shenzhen Stock Exchange regarding the termination of its stock listing [1] - The delisting decision is based on two main violations: negative net assets in 2023 and a qualified audit report for 2024, along with denied internal control audits [1] - The company has been confirmed to have engaged in systematic financial fraud for six years, as per the investigation by the China Securities Regulatory Commission (CSRC) [1] Group 2: Regulatory Actions - The company was investigated by the CSRC for information disclosure violations starting January 16 of this year [3] - The CSRC issued an administrative penalty notice on April 30, citing fraudulent financial data related to a fictitious project in the Philippines from 2017 to 2021 and further financial misrepresentation regarding Indonesian mining rights from 2020 to 2022 [3] - The company failed to disclose a significant lawsuit involving 627 million yuan, which accounted for 57.47% of its net assets at the end of 2022, leading to a warning and a fine of 7.5 million yuan from the CSRC [3] Group 3: Financial Performance - In the latest annual report, the company reported a revenue of 137 million yuan, a year-on-year decline of 70.21% [3] - The net profit attributable to shareholders was -310 million yuan, reflecting a 73.24% reduction in losses compared to the previous year [3] - The primary reasons for the losses include the completion of the nickel power project, high management costs, and elevated financial expenses [3]

Core Points - Company *ST Zhongcheng (300208)* has submitted a hearing application to the Shenzhen Stock Exchange within the stipulated timeframe [1] - If the company fails to attend the hearing on time, it will be considered as waiving its right to the hearing [1] - Even if the company participates in the hearing, the Shenzhen Stock Exchange may still decide to terminate the company's stock listing [1] - The company received a "Notice of Termination of Listing" from the Shenzhen Stock Exchange on May 7, 2025 [1] - Detailed content regarding the notice was disclosed by the company on the same date [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。 特别提示： 青岛中资中程集团股份有限公司（以下简称"公司"）已在规定期限内向深 圳证券交易所（以下简称"深交所"）提交听证申请，如公司未按期参加听证， 将被视为放弃听证权利，或公司参加了听证但深交所最终仍作出终止公司股票上 市的决定，公司股票将被终止上市。 一、公司申请听证的基本情况 公司于 2025 年 5 月 7 日收到深交所下发的《终止上市事先告知书》（创业 板函〔2025〕第<120>号），具体内容详见公司于 2025 年 5 月 7 日披露的《关于 收到终止上市事先告知书的公告》（公告编号：2025-046）。 公司已在申请听证的期限内向深交所提交了听证申请，如公司未按期参加听 证，将被视为放弃听证权利，或公司参加了听证但深交所最终仍作出终止公司股 票上市的决定，公司股票将被终止上市。请投资者注意投资风险。 证券代码：300208 证券简称：*ST 中程 公告编号：2025-047 青岛中资中程集团股份有限公司 关于向深圳证券交易所提交听证申请的公告 （三）退市后安排 根据《创业板股票上市规则》第 10 ...

Group 1 - Dashi Intelligent signed a smart hospital project contract worth 58.12 million yuan with the First Affiliated Hospital of Bengbu Medical College and Bengbu Urban Construction Investment Development Co., Ltd. [1] - The project aims to create a comprehensive tumor specialty hospital integrating medical care, research, teaching, preventive health care, and rehabilitation, which is expected to positively impact the company's future performance [1] Group 2 - Huahong Company reported a net profit of 22.76 million yuan for Q1 2025, a year-on-year decrease of 89.73%, despite a revenue increase of 18.66% to 3.913 billion yuan [2] - The company specializes in the development and application of embedded/non-volatile memory, power devices, and other semiconductor technologies [2] Group 3 - Jindi Group announced a signed area of 214,000 square meters in April, a year-on-year decrease of 55.14%, with a signed amount of 2.78 billion yuan, down 55.45% [3] - The company focuses on real estate development and sales, commercial real estate, and property management [3] Group 4 - Jinlong Automobile reported a bus production of 4,361 units in April, a year-on-year decrease of 5.79%, with sales of 3,611 units, down 3.91% [4][5] - The company is engaged in the production and sales of bus products [5] Group 5 - Sanyou Medical established a joint venture with CGBio Co., Ltd. with a registered capital of 60 million yuan, focusing on innovative cell biological materials and regenerative medicine [6][7] - The company specializes in the research, production, and sales of orthopedic implant consumables [7] Group 6 - Jinzhi Technology won a bid for projects related to the State Grid with a total amount of 90.73 million yuan, accounting for 5.12% of the company's projected revenue for 2024 [9][10] - The company focuses on smart energy and smart city businesses [10] Group 7 - Pinggao Electric won multiple procurement projects from the State Grid, totaling approximately 1.751 billion yuan, which is 14.12% of the company's projected revenue for 2024 [10] - The company specializes in high-voltage switchgear and power engineering contracting [10] Group 8 - Luantang Pharmaceutical received approval for the raw material drug Celecoxib, which is a selective COX-2 inhibitor with fewer gastrointestinal side effects compared to traditional NSAIDs [11][12] - The company is involved in the research, production, and sales of pharmaceutical products [12] Group 9 - Dongjie Intelligent obtained seven patent certificates related to AGV and conveyor system technologies [13][14] - The company specializes in the research, design, manufacturing, installation, and debugging of intelligent logistics systems [14] Group 10 - XJH Holdings received a government subsidy of 8.69 million yuan, which accounts for 38.67% of the company's projected net profit for 2024 [15][16] - The company focuses on the recycling and dismantling of waste electrical products [16] Group 11 - Huaihua Pharmaceutical's subsidiary received approval for the clinical trial of HZ-J001 ointment for treating non-segmental vitiligo [17][19] - The company is engaged in the research, production, and sales of pharmaceutical products [19] Group 12 - ST Aonong reported a pig sales volume of 132,800 heads in April, a year-on-year decrease of 14.42%, while the stock of pigs increased by 15.06% [22][23] - The company is involved in feed, pig farming, food, and trade [23] Group 13 - Beibu Gulf Port reported a cargo throughput of 31.75 million tons in April, a year-on-year increase of 20.32% [24][25] - The company specializes in port loading, storage, and related services [25] Group 14 - Dongfang Iron Tower won a bid for State Grid projects totaling approximately 100 million yuan, which is 2.39% of the company's projected revenue for 2024 [26] - The company focuses on steel structures and related businesses [26] Group 15 - Huanxu Electronics reported a consolidated revenue of 4.641 billion yuan in April, a year-on-year increase of 0.72% [27] - The company provides design, manufacturing, and related services for brand customers [27] Group 16 - Jincheng Co. announced that part of its bank accounts has been frozen, involving approximately 32.97 million yuan due to contract disputes [28][29] - The company specializes in high-end intelligent equipment for photovoltaic and smart port sectors [29] Group 17 - NAIKE Equipment announced the departure of core technical personnel Wang Xiangguo [30][31] - The company focuses on semiconductor packaging equipment and related products [31] Group 18 - Jiaojian Co. won a construction project in Hefei with a bid amount of approximately 704 million yuan, covering residential buildings and related infrastructure [32][33] - The company specializes in infrastructure construction and related services [33] Group 19 - Hongyuan Green Energy plans to transfer a 27.07% stake in Inner Mongolia Xinyuan Silicon Material Technology Co., Ltd. for 1.245 billion yuan [34][35] - The company focuses on the research, production, and sales of aviation electromechanical products [35] Group 20 - Poly Development reported a signed amount of 24.622 billion yuan in April, a year-on-year decrease of 25.44% [46][48] - The company specializes in real estate development and sales [48]

Core Viewpoint - The implementation of strict delisting regulations in the A-share market aims to eliminate "zombie" companies and improve the overall quality of listed firms, leading to a healthier market environment [1][2]. Group 1: Delisting Regulations - Companies such as *ST Zhongcheng, *ST Renle, and *ST Hengli have received advance notice of delisting, indicating a significant increase in the number of delisted stocks [1]. - The new delisting rules feature stringent standards and efficient execution, targeting financial, trading, regulatory, and major violation indicators to ensure non-compliant companies exit the market [1][2]. - The zero-tolerance regulatory approach is expected to accelerate the removal of low-quality firms, thereby freeing up market space for high-quality companies [1]. Group 2: Market Quality Improvement - The increase in delisted stocks reflects a faster market metabolism and optimized resource allocation, which will enhance the overall quality of listed companies in the A-share market [2]. - Investors will benefit from a cleaner and more transparent investment environment, allowing them to focus on identifying high-potential companies, thus reducing investment risks and improving returns [2]. - The strict delisting system serves as a protective measure for investors, addressing the previous prevalence of speculative trading in low-quality stocks [2]. Group 3: Investor Protection and Education - The new regulations enhance transparency and fairness in the A-share market by strengthening information disclosure requirements and increasing penalties for violations [2]. - Investors will have better access to accurate information about listed companies, enabling more rational investment decisions [2]. - There is a need for ongoing improvement of the delisting system and investor education to raise awareness of risks and self-protection capabilities [3].