NSWRC(SH:600165) Xin Lang Cai Jing·2025-12-15 12:15Core Viewpoint - The company *ST Ningke announced abnormal stock price fluctuations, with a cumulative increase exceeding 12% over three consecutive trading days in December 2025, despite unchanged fundamentals and no undisclosed significant information [1] Financial Performance - In Q3 2025, the company reported revenue of 327.35 million yuan and a net loss of 250.98 million yuan, with a net asset value of -179.19 million yuan [1] Risk Factors - The company highlighted several risks, including poor execution of the restructuring plan or potential bankruptcy, uncertainties regarding the resumption of operations at subsidiaries, anticipated losses in 2024, and the possibility of administrative penalties leading to additional stock warnings [1]