HIKING(SH:600735) Xin Lang Cai Jing·2025-09-30 01:53Group 1 - The core viewpoint of the news is that ST Xinhua Jin has faced significant financial distress, leading to a trading halt and a subsequent drop in stock price, indicating severe market concerns about the company's viability [1][2] - As of September 30, 2025, ST Xinhua Jin's stock hit the limit down price of 5.32 yuan, reflecting a decline of 5% and a total market capitalization of 2.281 billion yuan [1] - The company has reported a drastic decline in net profit, with a 354.59% decrease in 2024 and a further 39.45% drop in the first half of 2025, raising alarms about its financial health [2] Group 2 - The company is facing high operational risks due to significant shareholder pledges and 406 million yuan in funds occupied by related parties, which could lead to delisting [2] - Recent negative events, including the judicial freezing of 186 million shares held by a major shareholder, have raised concerns about potential liquidity issues and legal disputes, further eroding market confidence [2] - The stock's inclusion in the ST board has led to increased caution among investors, as stocks in this category are often viewed unfavorably due to operational or financial issues [2]