Core Viewpoint - *ST Suwu is facing significant challenges, including an investigation by the China Securities Regulatory Commission (CSRC) for information disclosure violations, which has led to a risk of forced delisting and a sharp decline in stock price [2][4][10] Group 1: Regulatory Issues - The chairman of *ST Suwu, Qian Qunshan, has been notified of a formal investigation by the CSRC for suspected violations of information disclosure laws [2] - The company has been under investigation since February 2025 for information disclosure violations, and it announced a significant risk of forced delisting in April 2025 [4] - The CSRC's investigation is ongoing, and *ST Suwu has not yet received a conclusive opinion or decision regarding the investigation [7] Group 2: Financial Performance - In 2024, *ST Suwu reported revenue of 1.599 billion yuan and a net profit of 70.48 million yuan, marking a five-year high [10] - The company achieved profitability in 2024 primarily due to the sales of the "Tongyan Needle," which generated 195 million yuan in revenue with a gross margin of 82.89% [8] - Despite the positive revenue and profit figures, *ST Suwu's cash flow situation remains concerning, with a significant decline in cash reserves from 1.152 billion yuan in 2024 to 168 million yuan in Q1 2025 [10] Group 3: Cash Flow Concerns - The company is experiencing severe cash flow issues, with operating cash flow showing continuous outflows of 204 million yuan in 2023 and 275 million yuan in early 2024 [10] - As of Q1 2025, *ST Suwu's operating cash flow net amount was -924 million yuan, indicating a substantial decline year-on-year [10] - The company's short-term borrowings reached 1.304 billion yuan, creating significant short-term repayment pressure [10]
再爆雷!知名药业董事长被立案
Zhong Guo Ji Jin Bao·2025-05-14 15:43