LNGF(SZ:002717) Shang Hai Zheng Quan Bao·2025-10-26 18:31Core Viewpoint - The stock of Lingnan Ecological Culture and Tourism Co., Ltd. (ST Lingnan) experienced abnormal trading fluctuations, with a cumulative closing price increase exceeding 12% over three consecutive trading days from October 22 to October 24, 2025 [2] Group 1: Stock Trading Abnormalities - The stock price of ST Lingnan showed a significant increase, leading to an investigation by the Shenzhen Stock Exchange due to abnormal trading behavior [2] - The company confirmed that it had received a notice from the China Securities Regulatory Commission (CSRC) regarding an investigation into potential information disclosure violations [3][4] Group 2: Company Verification and Shareholder Actions - The company conducted a verification process involving major shareholders and management, confirming that no undisclosed significant matters existed that could affect stock trading [6][7] - The company disclosed that its former controlling shareholder, Yin Hongwei, had shares amounting to 100 million (5.50% of total shares) that were successfully auctioned off, with part of the shares transferred on October 22 and 23, 2025 [4] Group 3: Financial and Operational Status - The company’s subsidiary, Shanghai Hengrun Digital Technology Group Co., Ltd., has been accepted for bankruptcy liquidation by the court [5] - The company has faced financial difficulties, including overdue debts and a negative net profit for three consecutive years, which has raised concerns about its ongoing viability [8][9]