Ge Long Hui A P P·2026-01-23 13:19Core Viewpoint - *ST Changyao (300391.SZ) has been identified by the China Securities Regulatory Commission (CSRC) for false disclosures in its annual reports for 2021, 2022, and 2023, which may lead to the termination of its stock listing due to significant violations of the Shenzhen Stock Exchange's listing rules [1][2] Group 1 - The company received a decision from the CSRC stating that its annual reports contained false records, affecting key financial indicators such as revenue, total profit, and net profit [1] - The company has triggered a major violation that could lead to forced delisting, as it has false disclosures for three consecutive years [1] - According to the Shenzhen Stock Exchange's rules, if a company encounters more than two delisting conditions, its stock will be delisted based on the principle of "first come, first served" [1] Group 2 - The company's stock will be suspended from trading starting January 26, 2026, as per the relevant regulations [2] - The company has the right to apply for a hearing regarding the delisting notice, and if it fails to do so within the specified period, the Shenzhen Stock Exchange will make an independent judgment on the delisting matter [2] - If a hearing application is submitted, the Shenzhen Stock Exchange will form an opinion within fifteen trading days after the hearing process concludes [2]