Sou Hu Cai Jing·2026-01-07 14:45Core Viewpoint - The stock of *ST Changyao (300391) is at risk of being delisted due to trading, financial issues, and significant legal violations, with its market capitalization falling below 300 million yuan [1] Group 1: Stock Performance - As of January 7, 2026, *ST Changyao closed at 0.84 yuan, down 4.55% from the previous trading day, with a total market value of 294 million yuan [1] - The stock opened at 0.87 yuan, reached a high of 0.88 yuan, and a low of 0.83 yuan, with a trading volume of 35.36 million yuan and a turnover rate of 11.85% [1] Group 2: Risk of Delisting - The company issued a risk warning regarding the potential termination of its stock listing due to trading-related, financial-related, and major legal violations [1] - The stock's closing market value has fallen below 300 million yuan, and it has traded below 1 yuan for five consecutive trading days, indicating a risk of delisting due to trading issues [1] - By the end of 2024, the company's net assets are projected to be negative, and if the audited net assets for 2025 are also negative or if the financial report receives a non-standard opinion, it will trigger financial delisting [1] Group 3: Legal and Financial Issues - The company has been under investigation by the China Securities Regulatory Commission (CSRC) for false reporting in its annual reports from 2021 to 2023, which may lead to mandatory delisting due to significant legal violations [1] - The company is facing risks related to large overdue debts, frozen bank accounts, and bankruptcy of subsidiaries [1]