逾2万股东踩雷，*ST奥维多重风险叠加锁定市值退市

Core Viewpoint - *ST Ovi is likely to become the first stock in A-shares to trigger "market value delisting" by 2026, as its market capitalization has fallen below 5 billion yuan for 13 consecutive trading days, with a stock price below 1 yuan for 4 consecutive days [1][2][5] Group 1: Stock Performance - On January 20, *ST Ovi's stock price closed at 0.85 yuan, with a market capitalization of 2.948 billion yuan [1][2] - The stock has experienced 23 trading halts since December 1, 2025, including two instances of 8 consecutive trading halts [2][3] - To avoid delisting, *ST Ovi's stock price needs to rise to at least 1.44 yuan, requiring a 69.41% increase from the current price [2][3] Group 2: Financial Performance - The company has reported losses for three consecutive years, with a net profit loss of 461.15 million yuan for the fiscal year 2024 [6][7] - As of the end of the third quarter of 2025, the company reported a revenue of 34.0025 million yuan and a net profit loss of 188 million yuan [6][7] - The company faces potential delisting due to financial indicators, including negative net assets or non-standard audit opinions [6][7] Group 3: Operational Challenges - The decline in performance is attributed to the suspension of operations in its metal products business, which accounted for 88.36% of total revenue in 2024 [7][8] - The company is facing significant operational risks due to funds being occupied by its major shareholder and related parties, amounting to approximately 208 million yuan as of the end of 2024 [8] - The inability to conduct metal product operations is expected to have a major impact on the company's financial performance [7][8] Group 4: Market Context - Other companies in the A-share market, such as *ST Changyao and *ST Lifang, are also experiencing stock prices below 1 yuan, indicating a broader trend [4][5] - *ST Changyao's market capitalization has been below 3 billion yuan for eight consecutive trading days, which also puts it at risk of delisting [5]