Zhengping Road & Bridge (SH:603843) 第一财经·2025-10-15 11:19Core Viewpoint - The company *ST Zhengping has completed its stock trading review and will resume trading on October 16, 2025, after a significant increase in stock price, which has raised concerns about potential risks and uncertainties in its future operations and profitability [1][3]. Group 1: Company Financials and Operations - As of June 30, 2025, the company's cash funds amounted to 101,723,487.39 yuan, with 81,664,227.39 yuan restricted due to various factors such as guarantees for migrant workers and litigation [1]. - The company's asset-liability ratio stands at 92.22%, indicating a high level of debt relative to its assets [1]. - The company has received a mining permit from the Qinghai Provincial Natural Resources Department but lacks sufficient funds, personnel, and equipment for future mining operations, leading to significant uncertainty regarding the development and profitability of its mineral resources [1]. Group 2: Stock Trading and Market Performance - The company announced a stock suspension starting from October 9, 2025, due to a significant increase in stock price, with 15 trading halts in September alone [3]. - The company has warned of the risk of delisting if issues related to non-standard opinions are not resolved by the end of the 2025 fiscal year [3]. - The company has indicated that its production and operational status is normal, with no significant changes or undisclosed major events that could impact its stock price [3].