A-Zenith(SH:603389) Mei Ri Jing Ji Xin Wen·2025-11-05 05:19Core Viewpoint - *ST亚振 has experienced a dramatic stock price increase, rising nearly 10 times within a short period, despite ongoing financial losses and delisting risks [1][5][10] Group 1: Stock Performance - The stock price surged from a low of 4.45 yuan in April to a high of 48.55 yuan, marking a maximum increase of 991% [2][3] - The stock saw a significant drop in shareholder accounts, decreasing from 25,240 to 14,418 over one year, a decline of 42% [2][3] - In the initial phase of the stock price increase, shareholder accounts halved from 14,418 to 7,286, a drop of 49% [3][4] Group 2: Shareholder Dynamics - The reduction in shareholder accounts indicates a concentration of ownership prior to the stock price surge [2][3] - By the end of the third quarter, the number of shareholders increased to 10,220, suggesting a potential distribution of shares [4] Group 3: Company Developments - The stock price rally began after a change in control, with new major shareholders acquiring 50.47% of the company at 5.68 yuan per share [1][5][8] - The company announced a cash acquisition of 51% of Guangxi Zirconium Industry, which further fueled the stock price increase [1][8] - Despite the stock price increase, the company reported a net loss of 31.41 million yuan for the first three quarters of the year [9] Group 4: Regulatory and Risk Factors - The company has faced multiple negative announcements regarding potential delisting risks, including a warning about continuous losses [5][10] - The stock was placed under delisting risk warnings due to failing to meet financial performance criteria [10]