Vanfund(SZ:000638) Xin Lang Cai Jing·2026-01-20 08:57Core Viewpoint - The company *ST WanFang announced that its stock experienced an abnormal fluctuation with a cumulative decline of 14.06% over three consecutive trading days on January 16, 19, and 20, 2026, indicating potential financial distress [1] Financial Performance - The company expects its revenue for the fiscal year 2025 to be below 300 million yuan, with total profits projected to be negative [1] - There is uncertainty regarding the resolution of issues related to the audit report for 2024, which may lead to financial delisting scenarios [1] Regulatory Issues - The company has been under investigation by the China Securities Regulatory Commission (CSRC) since July 2025, which raises concerns about potential administrative penalties [1] - If the company faces significant legal violations leading to mandatory delisting, its stock may be forcibly delisted [1]