两公司因董秘空缺收到警示函

Core Viewpoint - The companies *ST Yanshi and Pengxin Resources have received regulatory warnings from the Shanghai Stock Exchange due to the long-term vacancy of the company secretary position, which is a mandatory requirement under company law [1][2] Group 1: Regulatory Issues - Both *ST Yanshi and Pengxin Resources have been operating with the company secretary's responsibilities being performed by others, which is a violation of regulations [1] - The Shanghai Stock Exchange has previously issued recommendations for both companies to appoint a company secretary but they have failed to do so [1] - The companies are required to take corrective measures and submit a report within one month, along with initiating the appointment process for a qualified company secretary [1] Group 2: Company Performance and Outlook - Pengxin Resources has a stable operational foundation and is expected to achieve a net profit attributable to shareholders of 210 million to 290 million yuan in 2025, marking a significant turnaround from previous losses [2] - In contrast, *ST Yanshi is facing multiple risks, including ongoing lawsuits, operational stagnation, and financial distress, with its actual controller being implicated in a criminal case related to illegal fundraising [3][4] - *ST Yanshi is at risk of being delisted due to projected negative net profits and revenues below 300 million yuan for the fiscal year 2024, with an expected revenue of only 48 million to 60 million yuan in 2025 [4] Group 3: Financial Distress - *ST Yanshi is involved in 552 legal cases, with a recent loss in a contract dispute amounting to 29.46 million yuan, exacerbating its cash flow issues [4] - As of the end of the third quarter of 2025, *ST Yanshi had only 1.3425 million yuan in cash, while short-term borrowings amounted to 252 million yuan, indicating severe liquidity challenges [4]