在A股市场中，隐藏着一家令人唏嘘不已的"迷你"上市公司——*ST沪科，其业绩之惨淡，甚至不及寻常街角小超市的淡季表现。最新半年报揭示， 这家公司今年上半年总营收仅为440万元，而第二季度更是低至14.4万元，平均每月收入不过4.8万元。 分摊至*ST沪科的18名员工，每人每月需承担的营收指标仅为2667元，这一数字不禁让人质疑其经营的真实性与有效性。网络上，网友戏称其为"混 子公司"，此言非虚。 回望往昔，*ST沪科也曾有过辉煌时刻。它原名"异型钢管"，自1992年上市以来，虽非大放异彩，却也安稳度日。然而，随着本世纪初国企改制的浪 潮，一切悄然改变。民营老板严晓群的接手，带来了"上海科技"的新名，却也开启了资本游戏的序幕。 为何称*ST沪科为"混子公司"？关键在于其业务模式的空洞与无根。当前的贸易活动缺乏技术含量与竞争壁垒，完全依赖于资源与关系网络。一旦圈 子变动，业务立即陷入困境。加之公司缺乏深耕行业的决心，业务方向随波逐流，这种打法无异于短期逐利，长期来看无异于"裸泳"。 更令人咋舌的是，公司仅有18名员工，人均贡献之低令人咋舌。即便这些员工下班后兼职摆地摊，或许都能获得更高的收入。因此，*ST沪科 的 ...

登录新浪财经APP 搜索【信披】查看更多考评等级 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容 的真实性、准确性和完整性承担法律责任。 重要风险提示： ● 2025年7月13日，江苏吴中医药发展股份有限公司（以下简称"公司"）收到中国证券监督管理委员会 （以下简称"中国证监会"）下发的《行政处罚事先告知书》（处罚字〔2025〕58号），认定公司虚增营 业收入、营业成本和利润，2020-2023年年度报告存在虚假记载，触及重大违法强制退市情形。 ● 公司目前存在控股股东大额资金占用尚未解决，控股股东所持股份被全部冻结、医美产品独家代理解 约并导致相关业务停滞等多重风险，同时存在财务类退市、面值退市及重大违法强制退市等多重退市风 险。 ● 近期公司股价连续异常上涨，累积了较大交易风险，与公司基本面恶化、多重退市风险积聚等事实相 背离，击鼓传花迹象明显，随时存在快速下跌可能。如根据中国证监会正式的处罚决定书结论，公司触 及重大违法强制退市情形，公司股票将被终止上市。敬请广大投资者理性投资、审慎决策，切勿盲目跟 风炒作，避免因公司股价波动造成投资损失。 一、公司存在重大违 ...

每经记者｜蔡鼎 每经编辑｜陈俊杰 新华锦（600735.SH，股价8.63元，市值37亿元）8月26日晚间发布2025年半年报。公司上半年实现营收约6.69亿元，同比下滑24.92%，归属于上市公司股东 的净利润约1286.72万元，同比下滑39.45%，扣非净利润约530.99万元，同比下滑73.61%。报告期内公司不进行利润分配或公积金转增股本。 同日晚间，新华锦还公告称，公司收到青岛证监局《行政监管措施决定书》，控股股东新华锦集团及其关联方非经营性占用公司资金余额4.06亿元。若公司 未能在1个月内清收被占用资金，上交所将对公司股票实施其他风险警示。若未能在6个月内清收被占用资金，上交所将对公司股票实施停牌，停牌后两个月 内仍未完成整改的，将对公司股票实施退市风险警示，此后两个月内仍未完成整改的，将决定终止公司股票上市交易。 发制品出口和跨境进口电商业务营收均下滑 分业务来看，新华锦上半年发制品出口业务实现营收4.14亿元，同比下滑11.29%。公司称，"报告期内，受美国增加关税、欧美和日本等国家通货膨胀严 重、原材料涨价过快、市场需求低迷等因素影响，发制品行业竞争加剧，面临前所未有的挑战"。 跨境进口 ...

Core Viewpoint - ST Gaohong is experiencing significant stock price decline and volatility due to serious financial fraud allegations, leading to a risk of forced delisting [1][2] Group 1: Stock Performance - On August 25, 2025, ST Gaohong's stock closed at 1.26 CNY per share, down 5.26% from the previous trading day, with a trading volume of 2.75 million CNY [1] - The stock has seen a cumulative decline of 56.70% from July 18 to August 25, with a cumulative deviation value of -70.23%, categorizing it as a severely abnormal fluctuation security [1] - From August 22 to 25, the stock price dropped by 10.00%, with a cumulative deviation value of -13.32% [1] Group 2: Financial Fraud and Impact - The abnormal stock price fluctuation is closely linked to a major financial fraud incident, where ST Gaohong inflated its operating income by 19.876 billion CNY and profit by 76.2259 million CNY from 2015 to 2023 [2] - The company faces a significant risk of forced delisting due to these fraudulent activities, including a fraudulent issuance of shares amounting to 1.25 billion CNY [2] - In Q1 2025, the company reported a loss of 42.69 million CNY, with projected losses for the first half of the year between 130 million to 180 million CNY [2] Group 3: Market Position and Risks - ST Gaohong currently has a total market capitalization of 1.459 billion CNY, with a price-to-book ratio of 2.46 and a negative price-to-earnings ratio [2] - Despite being in popular sectors like telecommunications and IoT, the stock has consistently ranked among the largest decliners in the market due to the impact of financial fraud and delisting risks [2] - The company’s main bank accounts are frozen, and it is facing ongoing debt defaults and litigation, which are continuously impacting its business operations [2]

登录新浪财经APP 搜索【信披】查看更多考评等级 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容 的真实性、准确性和完整性承担法律责任。 重要风险提示： ● 江苏吴中医药发展股份有限公司（以下简称"公司"）股票8月21日、8月22日连续2个交易日涨幅较 大，公司股票存在多重退市风险，可能存在市场情绪过热及非理性炒作迹象，交易风险较大，存在短期 下跌的风险。敬请广大投资者理性投资、审慎决策，切勿盲目跟风炒作，避免因公司股价波动造成投资 损失。 ● 2025年7月13日，公司收到中国证券监督管理委员会（以下简称"中国证监会"）下发的《行政处罚事 先告知书》（处罚字〔2025〕58号），公司股票已于2025年7月14日起被叠加实施退市风险警示，如根 据中国证监会正式的处罚决定书结论，公司触及重大违法强制退市情形，公司股票将被终止上市。敬请 广大投资者关注后续公告并注意投资风险。 一、公司存在重大违法退市风险 三、叠加实施其他风险警示 公司2024年度财务报告内部控制被年审机构出具无法表示意见；浙江复基控股集团有限公司的其他关联 方企业存在非经营性占用公司资金的情形。上述事 ...

Core Viewpoint - Jiangsu Wuzhong Pharmaceutical Development Co., Ltd. faces multiple delisting risks due to significant violations and financial issues, prompting a warning for investors to exercise caution in trading [2][3][4]. Group 1: Major Violation Delisting Risk - On July 13, 2025, the company received an administrative penalty notice from the China Securities Regulatory Commission (CSRC), indicating potential major violations that could lead to forced delisting [3]. - The company's stock has been under delisting risk warning since July 14, 2025, due to the aforementioned notice [3]. Group 2: Financial Delisting Risk - The company's 2024 annual financial report received a disclaimer of opinion from the auditing firm, triggering financial delisting risk under the Shanghai Stock Exchange listing rules [4]. - The stock has been subjected to delisting risk warning due to this financial issue [4]. Group 3: Additional Risk Warnings - The company has been issued additional risk warnings due to internal control issues in the 2024 financial report and non-operational fund occupation by related parties [5]. - Specific details regarding these additional risks were disclosed in announcements made on May 6, 2025 [5]. Group 4: Other Operational Risks - On July 18, 2025, Regen Biotech Inc. sent a termination letter to the company's subsidiary, impacting the sales of AestheFill [6]. - The controlling shareholder's shares are fully pledged or under judicial restrictions, indicating further operational risks [6].

Core Viewpoint - The company has successfully eliminated certain risk warnings related to non-operational fund occupation by its controlling shareholder, but still faces other risk warnings due to ongoing financial issues and uncertainties regarding its restructuring process [1][2][3] Group 1: Risk Warnings - The company previously faced risk warnings due to non-operational fund occupation by its controlling shareholder, which exceeded 5% of the latest audited net assets and amounted to over 10 million [1] - The Shanghai Stock Exchange has approved the removal of specific risk warnings, but the company still faces other risk warnings due to unresolved financial issues [2] - The company has received negative opinions on its internal control effectiveness from auditors for the 2023 and 2024 financial reports, leading to continued risk warnings [2][3] Group 2: Restructuring Process - The company is currently in a pre-restructuring phase and has not yet received court documents regarding formal restructuring, leading to uncertainty about its future [2][3] - The Beijing First Intermediate People's Court has initiated pre-restructuring for the company, but this does not guarantee entry into formal restructuring [3] Group 3: Regulatory Issues - The company is under investigation by the China Securities Regulatory Commission for suspected violations of information disclosure laws, and has received a notice of case filing [4] - The company is cooperating with the regulatory investigation and has not yet received a conclusive opinion or decision regarding the case [4]

证券代码：600200 证券简称：*ST苏吴 公告编号：临2025-090 江苏吴中医药发展股份有限公司 关于股票交易暨退市风险提示公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要风险提示： （处 公司 2024 年度财务报告被年审机构出具无法表示意见，触及《上海证券交 易所股票上市规则》第 9.3.2 条第（三）项规定财务类退市的情形，公司股票已 被上海证券交易所实施退市风险警示。具体内容详见公司于 2025 年 4 月 30 日披 露的《关于实施退市风险警示及叠加其他风险警示暨停牌的公告》（公告编号： 临 2025-032）。 三、叠加实施其他风险警示 公司 2024 年度财务报告内部控制被年审机构出具无法表示意见；浙江复基 控股集团有限公司的其他关联方企业存在非经营性占用公司资金的情形。上述事 项触及《上海证券交易所股票上市规则》第 9.8.1 条第（一）（三）项的规定， 公司被叠加实施其他风险警示。具体内容详见公司于 2025 年 5 月 6 日披露的《关 于控股股东关联方资金占用暨叠加其他风险警示的公告》（ ...

Core Viewpoint - *ST Tianshan is undergoing a significant change in control due to the auction of shares held by its controlling shareholder, Huzhou Haohui Enterprise Management Consulting Co., Ltd, which may impact the company's future operations and governance [2][10]. Group 1: Auction Details - On August 19, *ST Tianshan announced that Huzhou Haohui and Huzhou Zhongzhi Rongyun Investment Co., Ltd had publicly auctioned 53.8613 million shares and a debt of 76.49 million yuan on the JD asset trading platform [2][9]. - The successful bidder, Xiamen Shed Supply Chain Management Co., Ltd, acquired the shares for 287 million yuan [2][10]. - The auction was a second attempt after the first auction, held from August 4 to 5, failed to attract bids with a starting price of 411 million yuan [6][9]. Group 2: Impact on Company Control - If the auction is completed, Huzhou Haohui's shareholding will decrease from 22.11% to 4.9%, leading to a change in control of *ST Tianshan [10]. - The company maintains that the auction will not affect its daily operations, as Huzhou Haohui and *ST Tianshan operate independently in various aspects [10]. Group 3: Financial Challenges - *ST Tianshan faces severe financial difficulties, with a projected net profit of -65.94 million yuan for 2024 and a net asset value of -3.78 million yuan [12]. - The company has been under delisting risk since April 30, 2024, due to negative financial indicators [12]. - In the first quarter of 2025, *ST Tianshan reported revenues of 24.65 million yuan and a net loss of -8.74 million yuan [12].

Core Viewpoint - Jiangsu Wuzhong Pharmaceutical Development Co., Ltd. is facing potential delisting due to significant violations of information disclosure regulations, as identified by the China Securities Regulatory Commission (CSRC) [2][4][10] Group 1: Investigation and Penalties - The company has been under investigation by the CSRC since February 26, 2025, for suspected violations of information disclosure laws [3] - On July 13, 2025, the CSRC issued a notice indicating that the company inflated revenue, costs, and profits from 2020 to 2023, leading to significant discrepancies in financial reporting [4] - The inflated figures included revenue increases of CNY 495.26 million, CNY 468.51 million, CNY 430.75 million, and CNY 376.66 million for the respective years, representing 26.46%, 26.39%, 21.26%, and 16.82% of reported revenues [4] Group 2: Potential Delisting Risks - If the formal penalty decision confirms the violations, the company may face mandatory delisting under the Shanghai Stock Exchange rules [2][5] - The company will apply for a trading suspension and disclose relevant information if it receives a formal penalty decision indicating delisting risks [7] - The stock price closed at CNY 0.99 on August 14, 2025, falling below the CNY 1 threshold, which could also lead to delisting if it remains below this price for 20 consecutive trading days [10][11] Group 3: Compliance and Future Actions - The company is committed to cooperating with the CSRC and will exercise its rights to defend against the allegations [2][5] - The company will continue to fulfill its information disclosure obligations as required by regulations [5][6]