Zhengping Road & Bridge (SH:603843) Xin Lang Cai Jing·2025-12-10 11:51Core Viewpoint - The company *ST Zhengping has experienced significant stock price volatility, with a cumulative decline exceeding 12% over three consecutive trading days, indicating abnormal fluctuations in its stock performance [1] Financial Performance - In 2024, the company reported a revenue of 1.362 billion yuan and a net profit attributable to shareholders of -484 million yuan [1] - For the first three quarters of 2025, the company generated a revenue of 652 million yuan, with a net profit attributable to shareholders of -99 million yuan [1] Audit and Compliance Issues - The company has unresolved non-standard audit opinion matters for the 2024 fiscal year, which raises concerns about its financial reporting [1] - The acceptance of the pre-restructuring application remains uncertain, indicating potential challenges in financial restructuring [1] - The non-standard opinion in the Q3 2025 report is pending verification, suggesting ongoing scrutiny of the company's financial practices [1] Operational Risks - There are indications of potential fund occupation and illegal guarantees, which could pose significant risks to the company's financial stability [1] - The company faces insufficient mineral extraction capacity, which may hinder its operational effectiveness and growth prospects [1] - If the aforementioned issues are not resolved, there is a risk that the company's stock may be delisted [1]