2026年首支“市值退市”股来了，近3万股民何去何从？

Core Viewpoint - *ST Aowei (002231) has locked in its fate for delisting due to a market capitalization below 3 billion yuan, making it the first company to face "market value delisting" in 2026 [2][3]. Group 1: Market Performance and Delisting Risk - As of January 20, 2026, *ST Aowei's stock closed at 0.85 yuan per share, with a total market capitalization of 2.95 billion yuan, having fallen below 5 billion yuan for 13 consecutive trading days [3]. - If the company's stock remains below a total market capitalization of 5 billion yuan for 20 consecutive trading days, it will be delisted from the Shenzhen Stock Exchange [3]. - Even with a potential daily increase of 5% over the next seven trading days, the total market capitalization is unlikely to recover to 5 billion yuan, indicating a high probability of delisting [3]. Group 2: Financial Condition and Audit Concerns - The company's financial situation is deteriorating, with a reported revenue of 291 million yuan for 2024, but a net loss attributable to shareholders of 46.11 million yuan, and a further loss of 58.37 million yuan after excluding non-recurring items [3]. - The auditing firm issued an audit report with a disclaimer of opinion for the 2024 financial report, raising serious concerns about the company's financial integrity [3]. Group 3: Regulatory Actions and Investor Implications - Since January 5, 2026, *ST Aowei has issued four risk warning announcements, indicating ongoing financial distress without significant improvement in its operational environment [4]. - The company is not expected to have a delisting transition period, meaning it will be directly delisted upon meeting the criteria [4]. - Investors have the opportunity to seek compensation, particularly those who purchased shares between April 26, 2024, and April 21, 2025, and sold or still hold shares after April 22, 2025, when the company revised its earnings forecast downward [6].