000697，24日停牌一天

Core Viewpoint - ST炼石 has filed for bankruptcy reorganization, leading to a risk warning for its stock and a change in its trading name to "*ST炼石" starting September 25, 2025 [1][3]. Company Summary - On September 23, 2025, ST炼石 announced that the Chengdu Intermediate People's Court accepted its reorganization application, which will result in a trading suspension for one day [1][3]. - The company had previously announced its board's approval to apply for reorganization and pre-reorganization at the beginning of the year [3]. - The court appointed Beijing King & Wood Mallesons (Chengdu) Law Firm as the administrator for the reorganization process [3]. Financial Situation - The company is facing severe financial difficulties, with significant overdue debts amounting to 0.77 billion and 9.48 billion due on January 2 and April 22, 2025, respectively [6]. - ST炼石 has acknowledged that it is unable to repay its due debts, indicating a lack of solvency [6]. - The temporary administrator has identified that the company has insufficient cash reserves and that its assets are difficult to liquidate in the short term, leading to ongoing losses and challenges in turning around its financial situation [6].