Zhengping Road & Bridge (SH:603843) Shang Hai Zheng Quan Bao·2025-10-15 20:29Core Viewpoint - The company, Zhengping Road and Bridge Construction Co., Ltd., has announced the resumption of its stock trading after a temporary suspension due to significant price fluctuations and has disclosed various operational and financial challenges that may impact its future performance [2][21]. Group 1: Stock Trading and Suspension - The company's stock will resume trading on October 16, 2025, after a temporary suspension initiated on October 9, 2025, due to a significant price increase of 101.86% from September 1 to September 30, 2025 [2][7][21]. - The stock experienced 15 trading days of price limits and 4 instances of abnormal fluctuations during the suspension period, indicating a serious deviation from its fundamentals [2][19]. Group 2: Financial and Operational Challenges - The company has reported a significant lack of mining resource extraction capacity, requiring substantial investment for future operations, but currently lacks sufficient funds, personnel, and equipment [3][8]. - As of June 30, 2025, the company's monetary funds amounted to approximately 101.72 million yuan, with 81.66 million yuan restricted due to various factors, leading to a high asset-liability ratio of 92.22% [3][8]. - The company has faced continuous operating losses, with a reported revenue of 1.36 billion yuan and a net loss of 484 million yuan for the year 2024, and a revenue of 344 million yuan with a net loss of 88 million yuan for the first half of 2025 [4][18]. Group 3: Corporate Governance and Compliance - The company has been issued a disclaimer of opinion in its 2024 annual report due to limited audit scope, resulting in a risk warning for delisting [3][14]. - There are ongoing issues with non-operating fund occupation by a subsidiary, with a remaining balance of approximately 4.21 million yuan as of now [4][17]. - The company has confirmed that there are no undisclosed significant matters that could affect stock price fluctuations, including major asset restructuring or other significant transactions [11][12].