Yuancheng(SH:603388) Zheng Quan Zhi Xing·2025-09-01 16:18Core Viewpoint - The company, Yuancheng Environment Co., Ltd., is under investigation by the China Securities Regulatory Commission (CSRC) for suspected false disclosures in financial reports, which poses significant risks of forced delisting due to major violations [1][3]. Financial Risks - For the first half of 2025, the company reported revenue of 82.34 million yuan and a net loss attributable to shareholders of 126.80 million yuan, which may lead to delisting risks if the annual report does not meet the requirements set by the Shanghai Stock Exchange [2]. - The company is subject to a risk warning due to its financial performance, and if the 2025 annual report does not meet the delisting criteria, the company's stock may be terminated from listing [2]. Operational Status - As of the announcement date, the company's business activities are reported to be operating normally, and the CSRC's investigation is ongoing without any conclusive findings yet [3]. - The company and its controlling shareholder are cooperating with the CSRC's investigation and will provide monthly updates on the progress of the investigation as required by the stock listing rules [3]. Risk Warnings - The company faces uncertainties regarding its ability to continue operations and liquidity risks, with multiple bank accounts frozen, totaling a significant amount in restricted funds [2].