21个跌停板！603388，触及强制退市！

Group 1 - The core point of the article is that *ST Yuancheng has received a notice from the Shanghai Stock Exchange regarding the proposed termination of its stock listing due to its market capitalization falling below 500 million yuan for 20 consecutive trading days as of November 10, 2025 [2][6] - On November 10, *ST Yuancheng's stock opened at a limit down, marking its 21st consecutive day of decline, with the stock price dropping to 0.58 yuan per share and the company's market value falling to 190 million yuan [4] - The company has been instructed by the Shanghai Stock Exchange to disclose risks and manage the termination of its stock listing appropriately, following previous notices regarding administrative penalties for false reporting in its annual reports from 2020 to 2022 [6][8] Group 2 - In October, *ST Yuancheng received an administrative penalty notice from the China Securities Regulatory Commission, which included a fine of 37.45 million yuan due to false reporting and fabrication of documents related to non-public stock issuance [8] - Founded in 1999, *ST Yuancheng is an environmental service provider focused on leisure tourism, ecological landscape, and green environmental protection, while also exploring the semiconductor sector for diversified profit models [8] - The company has reported losses for three consecutive years from 2022 to 2024, with a total net loss exceeding 500 million yuan, and for the first three quarters of this year, it achieved a revenue of 102 million yuan, a slight increase of 0.1% year-on-year, but incurred a net loss attributable to shareholders of 143 million yuan [8]