*ST公司年末冲刺“保壳”，“多点开花”化解退市风险

Core Viewpoint - The "shell protection" battle in the A-share market is intensifying as companies seek to avoid delisting, with *ST Dongyi's restructuring plan approved by the Beijing First Intermediate People's Court, significantly improving its chances of survival [1] Group 1: Restructuring and Financial Strategies - *ST Dongyi's restructuring plan aims to improve its asset-liability structure, enhancing its probability of avoiding delisting [1] - Companies are employing various strategies such as acquiring quality assets, divesting loss-making businesses, and advancing debt restructuring and waivers to navigate the "shell protection" battle [1] Group 2: Regulatory Environment - The regulatory authority's "zero tolerance" stance adds complexity to the capital and rules game, influencing how companies approach delisting risks [1] - As delisting standards continue to rise and regulatory policies become stricter, the methods for companies to mitigate delisting risks are shifting from "technical operations" to "substantive improvements" [1]