002231，锁定市值退市

Core Viewpoint - *ST Aowei is likely to become the first stock to be delisted due to market capitalization by 2026, as it has been trading below the required market cap for 12 consecutive trading days [1][3]. Group 1: Market Capitalization and Listing Rules - As of January 19, 2026, *ST Aowei's stock closed at 0.89 CNY per share, with a total market capitalization of 309 million CNY, which is below the 500 million CNY threshold [1][3]. - The company has been trading below the 500 million CNY market cap for 12 consecutive trading days, and if this continues for 20 trading days, it will face delisting from the Shenzhen Stock Exchange [3]. - Even if the stock experiences daily limit-up trading for the next 8 trading days, it is unlikely to recover to the 500 million CNY market cap [1]. Group 2: Stock Price and Listing Rules - The stock price has been below 1 CNY for 3 consecutive trading days as of January 19, 2026, which also puts it at risk of delisting if it remains below this threshold for 20 trading days [6]. - According to the listing rules, stocks that are delisted due to trading-related mandatory delisting conditions will not enter a delisting adjustment period [7]. Group 3: Financial Performance - For the fiscal year 2024, the company reported an operating revenue of 291 million CNY and a net loss attributable to shareholders of 46.11 million CNY, with a net loss of 58.37 million CNY after excluding non-recurring gains and losses [7]. - The company received an audit report with a disclaimer of opinion from Rongcheng Accounting Firm for its 2024 financial statements [7]. - In the first three quarters of 2025, the company achieved an operating revenue of 34.00 million CNY, with a net loss of 188 million CNY attributable to shareholders [7].