证券代码：300391 证券简称：*ST长药 公告编号：2026-007 长江医药控股股份有限公司 关于公司股票可能被终止上市的第九次风险提示公告 本公司及董事会全体成员保证信息披露内容真实、准确和完整，没有虚假记载、误 导性陈述或重大遗漏。 特别提示： 1、公司股票可能被实施交易类强制退市。2026年1月16日，长江医药控股 股份有限公司（以下简称"公司"或"长药控股"）股票收盘价格为0.54元/股， 已连续十二个交易日均低于1元；公司股票收盘市值1.89亿元，已连续六个交易 日均低于3亿元。根据《深圳证券交易所创业板股票上市规则》第10.2.1条的规 定，若公司出现连续二十个交易日的股票收盘价均低于1元，或者连续二十个交 易日的股票收盘市值均低于3亿元，公司股票将被终止上市。根据《深圳证券交 易所创业板股票上市规则》第10.7.1条的规定，若公司股票因触及交易类强制 退市规定被实施交易类强制退市，公司股票不进入退市整理期。 2、公司股票可能被实施财务类强制退市。公司股票自2025年4月22日起被 实施退市风险警示和其他风险警示，自2025年12月29日起被叠加实施退市风险 警示。鉴于公司未在2025年12 ...

证券代码：300391 证券简称：*ST 长药 公告编号：2026-008 长江医药控股股份有限公司 股票交易异常波动的公告 本公司及董事会全体成员保证信息披露内容真实、准确和完整，没有虚假记载、误导性 陈述或重大遗漏。 一、股票交易异常波动情况 长江医药控股股份有限公司（以下简称"公司"或"长药控股"）股票于2026 年1月15日、2026年1月16日连续2个交易日内日收盘价格跌幅偏离值累计-30.25%， 根据《深圳证券交易所交易规则》的相关规定，属于股票交易异常波动的情形。 敬请广大投资者注意投资风险。 二、公司关注并核实情况说明 针对本次公司股票交易异常波动，公司董事会就相关事项进行了核实与自查， 具体情况如下： 1、公司前期披露的信息目前不存在需要更正、补充之处。 2、公司未发现近期公共传媒报道可能或已经对公司股票交易价格产生较大 影响的未公开重大信息。 3、经查询、问询，公司、控股股东和实际控制人不存在关于公司的应披露 而未披露的重大事项或处于筹划阶段的重大事项。 4、经问询，本次股票异常波动期间，公司控股股东、实际控制人未发生买 卖公司股票的行为。 5、2025年12月29日，湖北省十堰市中级人 ...

Market Overview - The Chinese medicine sector experienced a decline of 0.59% on January 16, with *ST Changyao leading the drop [1] - The Shanghai Composite Index closed at 4101.91, down 0.26%, while the Shenzhen Component Index closed at 14281.08, down 0.18% [1] Stock Performance - Notable gainers in the Chinese medicine sector included: - Tianmu Pharmaceutical (600671) with a closing price of 18.41, up 4.07% [1] - Zhongsheng Pharmaceutical (002317) at 22.10, up 3.32% [1] - Weikang Pharmaceutical (300878) at 32.84, up 2.34% [1] - Conversely, *ST Changyao (300391) saw a significant drop of 20.59%, closing at 0.54 [2] Trading Volume and Value - The trading volume and value for selected stocks were as follows: - Zhongsheng Pharmaceutical had a trading volume of 862,100 shares and a transaction value of 1.854 billion [1] - Weikang Pharmaceutical recorded a trading volume of 161,200 shares with a transaction value of 207 million [1] - The overall net outflow of funds in the Chinese medicine sector was 299 million, while retail investors saw a net inflow of 62.16 million [2] Fund Flow Analysis - Major fund flows indicated: - Zhongsheng Pharmaceutical had a net inflow of 1.57 billion from major funds, but a net outflow of 22.56 million from speculative funds [3] - Yunnan Baiyao (000538) saw a net inflow of 61.66 million from major funds, with a net outflow of 24.37 million from speculative funds [3] - The overall sentiment reflected a mixed response from different investor categories, with major funds showing a preference for certain stocks while speculative funds exhibited outflows [3]

Core Viewpoint - Small-cap stocks exhibit higher volatility and activity compared to large-cap stocks, making them more likely to become market leaders [1] Group 1: Market Overview - As of January 15, there are 862 stocks with a circulating market value below 3 billion yuan, and 321 of these have a circulating market value below 2 billion yuan [1] - A total of 1,513 stocks have a total market value below 5 billion yuan, with 485 stocks having a total market value below 3 billion yuan [1] Group 2: Small-cap Stocks Analysis - The three stocks with the smallest circulating market values are *ST长药 at 238 million yuan, *ST奥维 at 305 million yuan, and *ST立方 at 531 million yuan [1] - The three stocks with the smallest total market values are *ST长药 at 238 million yuan, *ST奥维 at 343 million yuan, and *ST立方 at 533 million yuan [1] Group 3: Selected Small-cap Stocks - Notable small-cap stocks include: - *ST长药: Circulating market value of 238 million yuan, total market value of 238 million yuan, and no P/E ratio [1] - *ST奥维: Circulating market value of 305 million yuan, total market value of 343 million yuan, and no P/E ratio [1] - *ST立方: Circulating market value of 531 million yuan, total market value of 533 million yuan, and no P/E ratio [1] - 扬州金泉: Circulating market value of 694 million yuan, total market value of 2.778 billion yuan, P/E ratio of 24.23 [1] - 万得凯: Circulating market value of 753 million yuan, total market value of 2.964 billion yuan, P/E ratio of 26.59 [1] - 播恩集团: Circulating market value of 758 million yuan, total market value of 2.187 billion yuan, and no P/E ratio [1]

Trading Information Summary - The stock of *ST Changyao (300391) closed at 0.68 yuan on January 15, 2026, down 12.82%, with a trading volume of 638,794 shares and a transaction amount of 63.8794 million yuan [1][4] - The stock has experienced a continuous decline for three days, with two days in the last five trading days showing a drop of over 5%, resulting in a cumulative decline of 20.72% for the year [1][4] - In the first ten trading days, the net outflow of main funds reached 34.3049 million yuan, with a cumulative stock price drop of 26.76% during this period [1] Fund Flow Analysis - On January 15, the net outflow of main funds was 10.8822 million yuan, while retail funds saw a net inflow of 4.2771 million yuan [2][4] Company Announcement Summary - Changjiang Pharmaceutical Holdings Co., Ltd. may face delisting due to trading, financial issues, and significant legal violations, as the stock price has been below 1 yuan for ten consecutive trading days and the market capitalization has been below 300 million yuan for four days [3][4] - The company is expected to have a negative net asset by the end of 2025, and its financial report may receive a non-standard opinion, indicating potential financial delisting risks [3][4] - The company has received a preliminary notice of administrative punishment from the China Securities Regulatory Commission due to false records in annual reports from 2021 to 2023, which may trigger mandatory delisting for significant violations [3][4] - The company and its subsidiaries are facing numerous lawsuits, overdue debts, and frozen bank accounts [3]

Core Viewpoint - The A-share market is experiencing significant divergence, with some stocks reaching new highs while others are continuously declining, leading to several stocks falling below the 1 yuan face value, thus facing delisting risks [1][2]. Group 1: Stock Performance - *ST Aowei (002231) recently closed at 0.99 yuan per share, marking the first time its stock price has fallen below 1 yuan [1]. - Other stocks such as *ST Changyao (300391) and *ST Lifang (300344) have also seen their prices drop below 1 yuan, with *ST Changyao currently at 0.68 yuan after a decline of over 60% in the past month [2]. - *ST Lifang's stock price has plummeted from over 5 yuan to 0.83 yuan, representing a cumulative decline of over 80% in less than two months [2]. Group 2: Market Trends - In contrast to the declining stocks, over 200 stocks in the A-share market have reached historical highs in the past month, with more than 160 stocks achieving this milestone in less than 10 trading days since 2026 began [3]. Group 3: Company Issues - Many companies that have fallen into the low-price stock category face various operational issues, leading to multiple delisting risks [4]. - *ST Changyao received a notice from the China Securities Regulatory Commission regarding false records in its annual reports for 2021, 2022, and 2023, which could lead to forced delisting [4]. - Similarly, *ST Lifang has also been notified of potential delisting due to false records in its financial reports [4]. Group 4: Market Insights - Market expert Gui Haoming noted that even in a bullish market, not all stocks will perform well; some may decline due to poor company performance or delisting pressures, indicating a shift from the past trend of simultaneous stock movements [5]. - The decline in stock prices and trading volumes below listing requirements is primarily attributed to operational issues within the companies, emphasizing that performance remains the top priority for investors [5].

Core Viewpoint - The A-share market is experiencing significant divergence, with some stocks continuously rising to new highs while others are plummeting, with several stocks falling below the 1 yuan face value, indicating potential delisting risks [1][2]. Group 1: Stock Performance - *ST Aowei (002231) recently announced a risk of delisting due to its stock price falling below the face value, closing at 0.99 yuan per share, marking its first drop below 1 yuan [1][7]. - *ST Changyao (300391) has seen its stock price drop to 0.68 yuan, having fallen over 60% in the past month, and has closed below 1 yuan for 11 consecutive trading days [3]. - *ST Lifang (300344) has experienced a dramatic decline from over 5 yuan to 0.83 yuan, with an 80% drop in less than two months, and has closed below 1 yuan for 3 consecutive trading days [5]. Group 2: Market Context - In contrast to the decline of certain stocks, over 200 stocks in the A-share market have reached historical highs in the past month, with more than 160 stocks achieving new highs in less than 10 trading days since 2026 began [9]. - The disparity in stock performance highlights a shift from the previous trend where most stocks moved in tandem, indicating that not all stocks benefit from a bullish market environment [12]. Group 3: Underlying Issues - Many companies that have fallen into the low-price stock category face various issues, including potential delisting risks due to operational irregularities or poor performance [11]. - *ST Changyao has received a notice from the China Securities Regulatory Commission regarding false disclosures in its annual reports for 2021, 2022, and 2023, which could lead to forced delisting [11]. - *ST Lifang is also facing similar risks due to false disclosures, while *ST Aowei's market capitalization has fallen below 5 billion yuan, putting it at risk of delisting if it remains below this threshold for 20 consecutive trading days [11].

证券代码：300391 证券简称：*ST长药 公告编号：2026-006 长江医药控股股份有限公司 具体情形 是否适用 （对可能触及的打勾） 1 关于公司股票可能被终止上市的第八次风险提示公告 本公司及董事会全体成员保证信息披露内容真实、准确和完整，没有虚假记载、误 导性陈述或重大遗漏。 特别提示： 1、公司股票可能被实施交易类强制退市。2026年1月15日，长江医药控股 股份有限公司（以下简称"公司"或"长药控股"）股票收盘价格为0.68元/股， 已连续十一个交易日均低于1元；公司股票收盘市值2.38亿元，已连续五个交易 日均低于3亿元。根据《深圳证券交易所创业板股票上市规则》第10.2.1条的规 定，若公司出现连续二十个交易日的股票收盘价均低于1元，或者连续二十个交 易日的股票收盘市值均低于3亿元，公司股票将被终止上市。根据《深圳证券交 易所创业板股票上市规则》第10.7.1条的规定，若公司股票因触及交易类强制 退市规定被实施交易类强制退市，公司股票不进入退市整理期。 2、公司股票可能被实施财务类强制退市。公司股票自2025年4月22日起被 实施退市风险警示和其他风险警示，自2025年12月29日起被叠加 ...

Group 1 - Small-cap stocks exhibit higher volatility and activity compared to large-cap stocks, making them more likely to become market leaders [1] - As of January 14, there are 857 stocks with a circulating market value below 3 billion yuan, and 320 stocks with a circulating market value below 2 billion yuan [1] - A total of 1497 stocks have a total market value below 5 billion yuan, with 483 stocks having a total market value below 3 billion yuan [1] Group 2 - The three stocks with the smallest circulating market values are *ST Changyao at 273 million yuan, *ST Aowei at 320 million yuan, and *ST Lifang at 589 million yuan [1] - The three stocks with the smallest total market values are also *ST Changyao at 273 million yuan, *ST Aowei at 361 million yuan, and *ST Lifang at 590 million yuan [1] - A detailed list of stocks with circulating market values below 2 billion yuan includes various sectors such as pharmaceuticals, defense, and technology [1][2]

Group 1 - The stock price of *ST Changyao has been below 1 yuan for ten consecutive trading days, indicating a risk of forced delisting due to trading-related issues [1][3] - The company's market capitalization has been below 300 million yuan for four consecutive days, further highlighting its financial distress [1][3] - The estimated net asset for the end of 2025 is expected to be negative, and the financial report may receive a non-standard opinion, indicating potential financial delisting risks [1][3] Group 2 - The company has received a preliminary notice of administrative punishment from the China Securities Regulatory Commission (CSRC) due to false records in its annual reports from 2021 to 2023, which may lead to significant legal consequences and forced delisting [1][3] - A subsidiary of the company has been declared bankrupt, adding to the overall financial instability of the company [1]