Zheng Quan Shi Bao·2026-01-15 14:32Core Viewpoint - The A-share market is experiencing significant divergence, with some stocks reaching new highs while others are continuously declining, leading to several stocks falling below the 1 yuan face value, thus facing delisting risks [1][2]. Group 1: Stock Performance - *ST Aowei (002231) recently closed at 0.99 yuan per share, marking the first time its stock price has fallen below 1 yuan [1]. - Other stocks such as *ST Changyao (300391) and *ST Lifang (300344) have also seen their prices drop below 1 yuan, with *ST Changyao currently at 0.68 yuan after a decline of over 60% in the past month [2]. - *ST Lifang's stock price has plummeted from over 5 yuan to 0.83 yuan, representing a cumulative decline of over 80% in less than two months [2]. Group 2: Market Trends - In contrast to the declining stocks, over 200 stocks in the A-share market have reached historical highs in the past month, with more than 160 stocks achieving this milestone in less than 10 trading days since 2026 began [3]. Group 3: Company Issues - Many companies that have fallen into the low-price stock category face various operational issues, leading to multiple delisting risks [4]. - *ST Changyao received a notice from the China Securities Regulatory Commission regarding false records in its annual reports for 2021, 2022, and 2023, which could lead to forced delisting [4]. - Similarly, *ST Lifang has also been notified of potential delisting due to false records in its financial reports [4]. Group 4: Market Insights - Market expert Gui Haoming noted that even in a bullish market, not all stocks will perform well; some may decline due to poor company performance or delisting pressures, indicating a shift from the past trend of simultaneous stock movements [5]. - The decline in stock prices and trading volumes below listing requirements is primarily attributed to operational issues within the companies, emphasizing that performance remains the top priority for investors [5].