证监会出手，立案调查，300391涉嫌财务造假

Core Viewpoint - *ST Changyao has been notified by the China Securities Regulatory Commission (CSRC) regarding an investigation into suspected false reporting of financial data, which could lead to significant legal consequences including potential delisting of its stock [1] Group 1: Investigation Details - On November 7, 2025, *ST Changyao received a "Notice of Investigation" from the CSRC due to allegations of false records in periodic reports [1] - The CSRC's decision to initiate an investigation indicates serious concerns regarding the company's financial disclosures [1] Group 2: Potential Consequences - If the investigation confirms major violations, the company may face mandatory delisting from the stock market [1] - The company has stated its commitment to cooperate with the CSRC during the investigation and will adhere to regulatory disclosure requirements [1]