Zhengping Road & Bridge (SH:603843) Di Yi Cai Jing·2025-10-22 12:06Core Viewpoint - The company *ST Zhengping has experienced a significant stock price increase of 107.81% from September 1, 2025, to October 22, 2025, with 17 days of trading suspension and 5 instances of abnormal trading fluctuations [1] Financial Summary - As of June 30, 2025, the company's cash funds amounted to 101,723,487.39 yuan, with 81,664,227.39 yuan restricted due to various factors such as migrant workers' guarantee deposits and litigation freezes [1] - The company's asset-liability ratio stands at 92.22%, indicating a high level of debt relative to its assets [1] Operational Challenges - The company's wholly-owned subsidiary, Golmud Shengguang Mining Development Co., Ltd., has obtained a mining license from the Qinghai Provincial Department of Natural Resources [1] - The company faces significant challenges in mining resource development due to insufficient mining capacity and the need for substantial investment in construction and operations [1] - There is a major uncertainty regarding the progress of subsequent mining resource development and the potential for generating revenue, influenced by funding constraints, market conditions, industry policies, and external factors [1]