603843，三度停牌核查！其间26个涨停！

Core Viewpoint - *ST Zhengping's stock has experienced a significant increase of 221.93% from September 1, 2025, to November 18, 2025, with 26 trading days of price limits, indicating a serious deviation from its fundamentals and the overall market [1][3]. Group 1: Stock Trading and Market Behavior - The company will conduct a stock trading review to protect investor interests, leading to a suspension of trading starting November 19, 2025, for a period not exceeding 10 trading days [3]. - The stock has shown abnormal volatility, with five consecutive trading days of price limits after the last resumption of trading on November 12, 2025, indicating potential irrational market speculation [3][4]. Group 2: Company Operations and Financial Performance - *ST Zhengping is engaged in infrastructure construction, cultural tourism, and non-ferrous metal mining, and is actively expanding into new areas such as renewable energy and intelligent computing services [4]. - The company reported a revenue of 1.362 billion yuan and a net loss of 484 million yuan for 2024, with a revenue of 652 million yuan and a net loss of 99 million yuan for the first three quarters of 2025 [4][5]. Group 3: Risks and Challenges - The company faces a risk of delisting due to an audit report with a disclaimer of opinion for 2024, and ongoing issues with internal controls and significant uncertainties regarding its ability to continue as a going concern [4]. - There are concerns regarding the company's mining capabilities, with insufficient resources for future development and a high debt ratio of 92.49%, indicating financial instability [5].