Yuancheng(SH:603388) Sou Hu Cai Jing·2025-09-18 19:11Core Points - *ST Yuancheng (603388) closed at 1.9 yuan on September 18, 2025, with no change in price and a turnover rate of 11.41% [1] - The company faces significant risks of forced delisting due to allegations of false financial disclosures in its annual reports, with the China Securities Regulatory Commission (CSRC) having initiated an investigation [1][3] - The company reported a half-year revenue of 82.34 million yuan and a net loss of 126.80 million yuan for 2025, indicating ongoing financial difficulties [1] - The company has experienced continuous losses over the past three years, raising concerns about its ability to continue as a going concern [1] - There are liquidity risks due to difficulties in customer payments, and the company has overdue unused raised funds totaling 171.60 million yuan [1] - The controlling shareholder's shares are highly pledged and frozen, with some shares already auctioned or set for auction [1] - The company plans to transfer 51% of its stake in Silicon Precision Electronics, but the completion of this transaction is uncertain [1] Trading Information - On September 18, 2025, the net outflow of main funds was 6.96 million yuan, accounting for 9.66% of the total transaction amount [1][3] - Retail investors contributed a net inflow of 5.51 million yuan, representing 7.65% of the total transaction amount [1]