*ST万方：股价异常波动，提示财务及违法退市风险

Core Viewpoint - The company *ST WanFang has experienced significant stock price volatility, with a cumulative decline of 13.31% over three consecutive trading days, indicating abnormal fluctuations [1] Financial Performance - The company anticipates a revenue range of 200 to 250 million yuan for the fiscal year 2025, with a net revenue (after deductions) expected to be between 150 to 200 million yuan [1] - Both total profit and net profit are projected to be negative, with revenues falling below 300 million yuan, which may trigger financial delisting scenarios [1] Regulatory Issues - The company has been under investigation by the China Securities Regulatory Commission (CSRC) since July 2025, and if administrative penalties are imposed that meet certain criteria, it may face mandatory delisting for significant violations [1] - There is a risk that the audit report for the fiscal year 2025 may be issued with a qualified opinion, which could lead to the termination of the company's stock listing [1]