21个跌停板！603388，触及强制退市！

Core Viewpoint - *ST Yuancheng has received a notice from the Shanghai Stock Exchange regarding the potential termination of its stock listing due to its market capitalization falling below 500 million yuan for 20 consecutive trading days [2][3]. Group 1: Stock Listing Status - As of November 10, 2025, *ST Yuancheng's stock has been below the 500 million yuan threshold for 20 consecutive trading days, triggering the termination listing condition according to the Shanghai Stock Exchange's regulations [3]. - Following the announcement, *ST Yuancheng's stock price dropped to 0.58 yuan per share, with a market capitalization of 190 million yuan after 21 consecutive days of trading at the limit down [3][4]. Group 2: Regulatory Actions - The company received a regulatory letter from the Shanghai Stock Exchange requiring it to disclose risks and manage the termination of its stock listing appropriately [5]. - Earlier, *ST Yuancheng was issued an administrative penalty notice by the China Securities Regulatory Commission for false disclosures in its annual reports from 2020 to 2022, with a proposed fine of 37.45 million yuan [7]. Group 3: Financial Performance - *ST Yuancheng has reported losses for three consecutive years from 2022 to 2024, totaling over 500 million yuan in net losses [7]. - In the first three quarters of the current year, the company achieved a revenue of 102 million yuan, a slight increase of 0.1% year-on-year, but incurred a net loss attributable to shareholders of 143 million yuan [7].