Core Viewpoint - *ST Yuancheng is facing multiple delisting risks due to its market capitalization falling below 500 million yuan and stock price dropping below 1 yuan, which could lead to forced delisting from the stock exchange [1][2][3] Financial Performance - In the first three quarters of the year, the company reported revenue of 102 million yuan and a net loss attributable to shareholders of 143 million yuan [7] - For the third quarter alone, revenue was 20.14 million yuan, a year-on-year decrease of 54.70%, with a net loss of 16.34 million yuan [7] - Revenue figures for the years 2022 to 2024 were 294 million yuan, 274 million yuan, and 146 million yuan respectively, with net losses of 65.48 million yuan, 162 million yuan, and 325 million yuan [7] Delisting Risks - As of November 7, the company's total market capitalization was 199 million yuan, having been below 500 million yuan for 19 consecutive trading days, which will trigger forced delisting after 20 days [2][3] - The stock price closed at 0.61 yuan on November 7, having been below 1 yuan for 10 consecutive trading days, which also contributes to the delisting risk [3] - The company has received multiple warnings regarding delisting, including a notice from the China Securities Regulatory Commission about significant violations leading to potential forced delisting [9][10] Regulatory Issues - The company has been found to have false records in its annual reports from 2020 to 2022, which included inflated project costs and revenues [9][10] - The company is facing penalties totaling 37.45 million yuan and potential market bans for key personnel due to these violations [10] Operational Challenges - The company has been experiencing a continuous decline in business performance and has been in a state of loss for several years [8] - There are concerns regarding the company's ability to continue as a going concern, with issues such as overdue fundraising and liquidity risks [10]

Core Viewpoint - *ST Yuancheng (603388) is facing imminent delisting risks due to multiple violations and financial issues, with only one trading day left before potential forced delisting [2][6]. Group 1: Delisting Risks - The company has triggered multiple delisting risks, including a trading-based forced delisting due to a market capitalization below 500 million yuan for 20 consecutive trading days [3][6]. - As of November 7, 2025, the company's total market capitalization was 199 million yuan, and the closing price was 0.61 yuan, which has been below 1 yuan for 10 consecutive trading days [3][7]. - The company will face suspension of trading and a delisting decision from the exchange after November 10, 2025, due to these violations [6][7]. Group 2: Financial Violations - The company received a notice from the China Securities Regulatory Commission (CSRC) regarding administrative penalties for false reporting in annual reports from 2020 to 2022, including inflated revenues and profits [7][8]. - The company has been under risk warning since October 13, 2025, due to these violations, which may lead to a major illegal forced delisting [7][8]. Group 3: Financial Performance - For the third quarter of 2025, the company reported revenues of 102.48 million yuan and a net loss of 143.14 million yuan attributable to shareholders [8]. - The company faces uncertainties regarding its ability to continue operations, with overdue fundraising, stock pledges, freezes, liquidations, and other liquidity risks [8].

Core Viewpoint - *ST Yuancheng is facing imminent delisting risks due to its market capitalization falling below 500 million yuan and stock price remaining below 1 yuan for consecutive trading days [1][2][4]. Group 1: Delisting Risks - As of November 7, the total market capitalization of *ST Yuancheng was 199 million yuan, having been below 500 million yuan for 19 consecutive trading days [2][4]. - The stock price closed at 0.61 yuan on November 7, remaining below 1 yuan for 10 consecutive trading days [2][4]. - The company is set to face trading-type mandatory delisting after November 10 due to these conditions [4]. Group 2: Regulatory Actions - On October 10, the company received a notice from the China Securities Regulatory Commission regarding administrative penalties for false reporting in its annual reports from 2020 to 2022 [5]. - The company is at risk of being subjected to mandatory delisting due to significant violations of regulations, including fabricating major false content in its non-public stock issuance documents [5]. Group 3: Financial Performance - For the third quarter of 2025, the company reported revenues of 102.48 million yuan and a net loss attributable to shareholders of 143.14 million yuan [6]. - The company faces uncertainties regarding its ability to continue operations, overdue fundraising, and multiple liquidity risks [6].

Core Viewpoint - *ST Changyao is facing a critical survival challenge due to the China Securities Regulatory Commission's investigation, the looming risk of delisting, and difficulties in its pre-restructuring process [2][3][4] Financial Situation - As of December 31, 2024, *ST Changyao reported a negative net asset of -433 million yuan and an accumulated loss of -1.59 billion yuan, with a net profit of -628 million yuan for the year [4] - The company's revenue has drastically declined from 1.615 billion yuan in 2022 to 1.198 billion yuan in 2023, and further down to only 112 million yuan in 2024 [5] - For the first three quarters of 2025, *ST Changyao's revenue increased by 4.4% year-on-year to 105 million yuan, but the net profit decreased by 15.89% to -210 million yuan [5] Delisting Risk - The company is under significant threat of mandatory delisting due to its negative net asset situation and the potential for administrative penalties from the CSRC [2][3][6] - If *ST Changyao fails to improve its financial performance in Q4 2025, it will trigger the delisting clause related to negative net assets [6] Restructuring Challenges - Prior to the CSRC investigation, *ST Changyao was already struggling with debt, leading to the initiation of pre-restructuring by the Hubei Province Shiyan Intermediate People's Court on January 20, 2025 [7] - The court has extended the pre-restructuring period until January 20, 2026, indicating slow progress in the restructuring efforts [8] - The company has warned of the uncertainty surrounding its ability to enter formal restructuring and the risk of bankruptcy if restructuring fails [9] Legal and Financial Liabilities - Due to overdue debts, several creditors have initiated lawsuits against *ST Changyao, resulting in the freezing of numerous bank accounts and asset seizures [11] - As of October 20, 2025, the company had significant interest-bearing liabilities totaling 1.106 billion yuan, with 390 million yuan overdue [11] - The company is involved in 140 legal cases with a total amount in dispute of 1.878 billion yuan, which is 434% of its latest audited net assets [11] Market Performance - As of November 7, 2025, *ST Changyao's stock price was 3.45 yuan per share, with a total market capitalization of only 1.209 billion yuan [13]

Core Viewpoint - *ST Changyao is facing a critical situation due to a formal investigation by the China Securities Regulatory Commission (CSRC) for suspected financial data falsification, which may lead to mandatory delisting risks and ongoing pre-restructuring challenges [2][4]. Financial Risks - The company has been under the shadow of delisting due to severe financial issues, with a negative net asset value of -433 million yuan as of December 31, 2024, and an accumulated loss of -1.59 billion yuan [7]. - Revenue has drastically declined from 1.615 billion yuan in 2022 to 1.198 billion yuan in 2023, with projections of only 112 million yuan for 2024 [8]. - For the first three quarters of 2025, the company reported a 4.4% year-on-year revenue increase to 105 million yuan, but net profit decreased by 15.89% to -210 million yuan [8]. Delisting Risks - If *ST Changyao fails to improve its financial performance in Q4 2025, it will trigger the delisting clause due to negative audited net assets [9]. - The company has been under a delisting risk warning since April 22, 2025, following a negative net asset report for the 2024 fiscal year [6]. Pre-restructuring Challenges - Prior to the CSRC investigation, *ST Changyao was already struggling with debt, leading to a pre-restructuring process initiated by the Hubei Province Shiyan Intermediate People's Court on January 20, 2025 [11]. - The court has extended the pre-restructuring period until January 20, 2026, indicating difficulties in the restructuring process [11]. - The company has warned of the risk of bankruptcy if the restructuring fails, despite several subsidiaries already undergoing restructuring [13][14]. Legal and Financial Liabilities - The company faces significant legal challenges, with 140 lawsuits involving a total of 1.878 billion yuan, which is 434% of its latest audited net assets [15]. - As of October 20, 2025, *ST Changyao reported total interest-bearing liabilities of 1.106 billion yuan, with 390 million yuan overdue [15]. - A substantial number of bank accounts (67.7%) have been frozen due to overdue debts, severely impacting the company's financial operations [15][16]. Market Performance - As of November 7, 2025, *ST Changyao's stock price was 3.45 yuan per share, with a total market capitalization of 1.209 billion yuan [17].

Core Viewpoint - ST Zhongdi's stock experienced significant abnormal fluctuations, with a cumulative increase of 16.11% over three consecutive trading days from October 29 to 31, raising concerns about its underlying fundamentals [1][2]. Group 1: Stock Performance - The stock price increased by over 71.39% from October 16 to 31, which is significantly disconnected from ST Zhongdi's fundamental performance [1]. - The stock has shown abnormal fluctuations in four out of the last ten trading days, triggering severe abnormal fluctuation standards [1]. Group 2: Financial Health - ST Zhongdi has reported negative net profits for the past three years, indicating substantial uncertainty regarding its ongoing operational capability [1]. - For the third quarter of 2025, the company reported a significant revenue decline of 74.30%, resulting in a net loss of 66.4984 million [1]. Group 3: Ownership and Control - The controlling shareholder's 71.1448 million shares (23.77% of total shares) were auctioned for 255 million yuan on October 17, leading to uncertainties regarding the company's control [1]. Group 4: Valuation Metrics - ST Zhongdi's price-to-book ratio stands at 35.88 times, which is significantly higher than the industry average of 0.90 times for the real estate sector [1].

11月7日，长江医药控股股份有限公司(以下简称"*ST长药（300391）")公告称，公司收到中国证监会下 发的《立案告知书》，因公司涉嫌定期报告等财务数据虚假记载，根据《中华人民共和国证券法》《中 华人民共和国行政处罚法》等法律法规，中国证监会决定对公司立案。 公告显示，若后续经中国证监会行政处罚认定的事实，触及《深圳证券交易所创业板股票上市规则》规 定的重大违法强制退市情形，*ST长药股票将被实施重大违法强制退市。 而回溯公司过往公告，诸多风险隐患早已显现，叠加此次财务真实性相关的立案调查，*ST长药的经营 与资本层面均已陷入多重危机，广大投资者应充分评估相关风险。 在经营陷入困境的同时，*ST长药的内控漏洞也不断暴露，多次发生违规操作且未履行信息披露义务。 经营状况持续恶化 具体来看，在资金管理方面，截至2023年末，公司向时任董事、总经理罗明控制的企业累计违规提供财 务资助1.8亿元，该金额占公司最近一期经审计净资产的92%，尽管这笔资金在2024年通过关联方债权 债务转让等方式收回，但违规行为已严重违反规范运作要求。 此外，公司控股孙公司还曾未经审议便对外提供809.2万元的关联担保，占最近一期经审 ...

登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：603388 证券简称：*ST元成 公告编号：2025-137 元成环境股份有限公司 股票严重交易异常波动公告 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。 重要内容提示： ● 元成环境股份有限公司（以下简称"公司"）股票连续30个交易日内日收盘价格跌幅偏离值累计超过 70%，属于股票交易严重异常波动的情形。 ● 交易类强制退市风险。公司股票2025年11月6日收盘总市值为2.08亿元，已连续18个交易日总市值低 于5亿元，即使后续2个交易日（不包含公司股票全天停牌日）连续涨停，也将因连续20个交易日收盘总 市值低于5亿元而触及交易类强制退市。根据《股票上市规则》第9.2.1条第一款第（五）项的规定，上 市公司出现连续20个交易日在上海证券交易所（以下简称"上交所"）的每日股票收盘总市值均低于5亿 元情形的，上交所将决定终止公司股票上市，属于交易类强制退市。 公司股票2025年11月6日收盘价为0.64元，已连续9个交易日低于1元。根据《股票上市规则》第9.2.1条 ...

Group 1 - The company's stock experienced an unusual fluctuation, with a cumulative price increase deviation of 16.19% over three consecutive trading days from November 3 to 5, 2025 [1] - For the first three quarters of 2025, the company reported revenue of 134.71 million yuan, a year-on-year decrease of 52.64% [1] - The total profit for the same period was -151.07 million yuan, reflecting a year-on-year decline of 41.83% [1] Group 2 - The company's net profit after deducting non-recurring items was -132.35 million yuan, down 34.12% year-on-year [1] - There is a risk of being subject to delisting warning if the audited indicators for the year 2025 do not meet the standards [1] - The auction of shares by the controlling shareholder has been completed, and further procedures are required, indicating a potential change in control [1]

每经记者｜闫峰峰 每经编辑｜陈柯名 吴永久 *ST亚振以一场"10倍股"的行情引起市场关注。在短短半年多时间里，这只连续四年亏损、被实施退市风险警示的个股，完成了近10倍的涨幅。在上涨行 情启动前一年，公司股东户数从2.52万户锐减至1.41万户，筹码快速集中；而股价上涨初期，公司筹码集中现象更是加速，股东户数在一个季度时间便出 现了腰斩。 这场资本盛宴始于2025年4月的新实控人入驻——吴涛及一致行动人以5.68元/股的价格收购公司50.47%股权。8月，*ST亚振收购了广西锆业51%股权，这 进一步催化了公司股价的上涨。然而，公司前三季度仍亏损3141万元，退市风险仍未消除。 不过自4月低点之后，公司的股价便开启了长牛走势，最高涨至近期的高点48.55元。期间最大涨幅达991%。 值得注意的是，公司的股东户数，在本轮股价大涨的初期，出现了更为剧烈的减少：公司的股价在今年二季度上涨了240.5%，突破了此前6年的高点，与 此同时，公司的股东户数从今年一季度末的14418户大幅减少至今年二季度末的7286户，下降幅度达49%。而这意味着，在公司股价上涨初期，公司的股 份加速向少部分人集中。 而回顾*ST亚振的 ...