Zheng Quan Shi Bao·2025-11-07 15:43Core Viewpoint - *ST Changyao has been subjected to an investigation by the China Securities Regulatory Commission (CSRC) due to suspected false financial reporting, which could lead to a forced delisting if significant violations are confirmed [2]. Financial Performance - As of December 31, 2024, *ST Changyao reported a negative net asset of -433 million yuan and an undistributed profit of -1.59 billion yuan [2]. - For the first three quarters of 2025, the company's revenue increased by 4.40% year-on-year to 105 million yuan, while the net profit attributable to shareholders decreased by 15.89% to -210 million yuan [2]. - The net profit excluding non-recurring items fell by 16.99% year-on-year to -209 million yuan, with net assets dropping to -643 million yuan [2]. Stock Performance - As of November 7, *ST Changyao's stock price was 3.45 yuan per share, reflecting a decline of 0.58%, with a total market capitalization of 1.209 billion yuan [2][3].