Sou Hu Cai Jing·2026-01-18 19:02Core Viewpoint - *ST Changyao (300391) has experienced significant stock price decline, raising concerns about potential delisting due to continuous financial and operational issues [1][3][4]. Trading Information Summary - As of January 16, 2026, *ST Changyao closed at 0.54 yuan, down 20.59%, with a trading volume of 779,974 shares and a turnover of 45.045 million yuan [1]. - The stock has fallen for four consecutive days, with a cumulative decline of 36.08% year-to-date [1]. - In the last ten trading days, the net outflow of main funds reached 40.3818 million yuan, coinciding with a 36.08% drop in stock price [1]. Fund Flow Summary - On January 16, 2026, the main funds experienced a net outflow of 8.2002 million yuan, while retail investors saw a net inflow of 4.3908 million yuan, indicating a trend of institutional selling and retail buying [2]. 龙虎榜 Summary - *ST Changyao was listed on the "龙虎榜" due to a daily decline of 15% and a cumulative deviation of 30% over three trading days, marking its first appearance on the list in the last five trading days [3]. Company Announcement Summary - The company issued its eighth risk warning regarding potential delisting due to trading, financial issues, and significant legal violations, with the stock price remaining below 1 yuan for eleven consecutive trading days and market capitalization below 300 million yuan [3][4]. - The company confirmed that it has not discovered any major undisclosed information and that its controlling shareholder did not trade shares during the abnormal trading period [4]. - The ninth risk warning reiterated the potential for delisting, citing negative net assets and confirmed financial misreporting from 2021 to 2023, which has been recognized by the China Securities Regulatory Commission [4][5].