Zhengping Road & Bridge (SH:603843) Sou Hu Cai Jing·2025-10-01 01:08Core Viewpoint - The company, Zhengping Road and Bridge Construction Co., Ltd. (ST Zhengping), has announced a stock trading risk warning and will suspend trading for up to five days due to a significant stock price increase of 101.86% from September 1 to September 30, 2025, which deviates sharply from the Shanghai Composite Index and the construction industry [2] Company Overview - Zhengping was established on March 18, 1996, with a registered capital of 699.62337 million RMB, and is headquartered in Xining, Qinghai Province [3][4] - The company specializes in infrastructure construction, cultural tourism, and non-ferrous metal mining [4] - The current chairman is Tian Shisheng, and the company has 955 employees [4] Financial Performance - The company's revenue for 2024 and Q2 2025 was 1.362 billion RMB and 344 million RMB, reflecting year-on-year declines of 28.53% and 37.77% respectively [4] - The net profit attributable to shareholders for the same periods was -484 million RMB and -88.12 million RMB, with year-on-year changes of 8.97% and -12.40% respectively [4] - The company's asset-liability ratios were 90.92%, 90.60%, and 92.22% for the respective periods [4] Regulatory Issues - The company faces delisting risks due to an audit report for the 2024 annual report that could not express an opinion, and it has been placed under delisting risk warning [2] - On March 29, 2024, the company received an administrative penalty from the Qinghai Securities Regulatory Bureau, which included a fine of 1.5 million RMB [3] Risk Factors - The company has significant operational risks, including insufficient mineral resource extraction capacity and unresolved non-operating fund occupation [2] - The company has a total of 497 internal risk alerts and 821 external risk alerts, indicating a high level of risk exposure [4]