终止上市！停牌前“五连板”

Core Viewpoint - *ST Suwu has received a decision from the Shanghai Stock Exchange to terminate its stock listing due to significant violations, including false disclosures in annual reports from 2020 to 2023 [2][4]. Group 1: Termination of Listing - The termination of *ST Suwu's stock listing will take effect after a 15-day trading period, starting from December 9, 2025, with the last trading day expected to be December 29, 2025 [2][4]. - The stock will enter a delisting preparation period, where the first trading day will have no price limits, while subsequent days will have a 10% price limit [4]. Group 2: Violations and Penalties - The company has been found to have inflated revenue, costs, and profits through non-commercial transactions with related parties, resulting in inflated revenues of CNY 4.95 billion, CNY 4.69 billion, CNY 4.31 billion, and CNY 3.77 billion from 2020 to 2023 [5]. - The China Securities Regulatory Commission (CSRC) has imposed a fine of CNY 10 million on *ST Suwu and warned the company to rectify its violations, while also fining five responsible individuals a total of CNY 20.5 million [6]. Group 3: Business Overview - *ST Suwu operates primarily in two sectors: the pharmaceutical industry and the medical beauty biotechnology sector, with a focus on chemical generic drugs and regenerative medical injectables [4].