603388 锁定退市！

Core Viewpoint - *ST Yuancheng (603388) is facing imminent delisting risks due to multiple violations and has only one trading day left before potential forced delisting [2][6]. Group 1: Delisting Risks - The company has issued multiple announcements regarding delisting risks, indicating it has triggered several criteria for forced delisting [2][6]. - As of November 7, the company's total market capitalization was 199 million yuan, having been below 500 million yuan for 19 consecutive trading days, which will lead to forced delisting after 20 days [3][6]. - The stock price closed at 0.61 yuan on November 7, remaining below 1 yuan for 10 consecutive trading days, which also contributes to the delisting risk [3][6]. Group 2: Regulatory Actions - On October 10, the company received a notice from the China Securities Regulatory Commission (CSRC) regarding administrative penalties for false reporting in annual reports from 2020 to 2022, which may lead to major illegal forced delisting [7]. - The company has been warned of delisting risks since October 13, 2025, due to these violations [7]. Group 3: Financial Performance - For the third quarter of 2025, the company reported revenues of 102.48 million yuan and a net loss attributable to shareholders of 143.14 million yuan, raising concerns about its financial viability [7]. - The company faces additional risks related to its ability to continue as a going concern, including overdue fundraising, stock pledges, freezes, liquidations, and judicial auctions [8].