Core Viewpoint - The company faces significant risks of delisting due to major violations and financial issues, as indicated by recent regulatory actions and financial report evaluations [1][2][3] Group 1: Delisting Risk - The company has received an administrative penalty notice from the China Securities Regulatory Commission (CSRC), which may lead to mandatory delisting if major violations are confirmed [1][3] - The company's stock has been under delisting risk warning since July 14, 2025, due to potential major violations [1][3] Group 2: Financial Reporting Issues - The company's 2024 financial report received a disclaimer of opinion from the auditing firm, triggering delisting risk warnings under the Shanghai Stock Exchange rules [1][2] - The company is also facing additional risk warnings due to internal control issues highlighted in the 2024 financial report [2] Group 3: Other Operational Risks - The company is involved in a legal arbitration case with a partner, which may affect its ability to continue sales of certain products [2] - There are indications of non-operational fund occupation by related parties, which has led to further risk warnings [2]

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]

Core Viewpoint - *ST Suwu's stock price has fallen below 1 yuan per share, triggering a delisting risk warning from the Shanghai Stock Exchange [1][3]. Group 1: Stock Performance and Delisting Risk - On August 14, *ST Suwu's stock closed at 0.99 yuan per share, which is below the 1 yuan threshold [1]. - According to the Shanghai Stock Exchange rules, if a company's stock price remains below 1 yuan for 20 consecutive trading days, it may face delisting [3]. - *ST Suwu has previously issued multiple warnings regarding potential delisting due to significant internal control issues [5]. Group 2: Regulatory Actions and Financial Reporting Issues - On July 13, *ST Suwu received a notice from the China Securities Regulatory Commission regarding administrative penalties, which could lead to a major violation delisting [5]. - The company has been found to have inflated revenue and profits through non-substantive trade activities with related companies, leading to false records in its annual reports from 2020 to 2023 [5]. - The 2024 financial report received an "unable to express an opinion" from the auditing firm, resulting in a delisting risk warning from the exchange [5]. Group 3: Related Party Transactions - On May 6, *ST Suwu announced that its controlling shareholder's related parties had occupied company funds, exceeding 5% of the latest audited net assets [6]. - This situation has led to additional risk warnings for the company's stock [6]. Group 4: Legal Disputes and Claims - On August 11, *ST Suwu's subsidiary, Datuo Medical, initiated arbitration against Regen Biotech for breach of contract, seeking 1.6 billion yuan in damages [8]. - The dispute centers around the exclusive distribution rights for the "AestheFill" product in China, which Regen attempted to revoke [9]. Group 5: Company Overview - *ST Suwu's main business includes pharmaceuticals and medical aesthetics, focusing on drug development and high-end aesthetic injection products [10]. - As of August 14, the company's stock price was 0.99 yuan, with a total market capitalization of 700 million yuan [10]. - As of the end of Q1 2025, *ST Suwu had approximately 86,200 shareholders, reflecting a significant increase from the previous quarter [12].

Core Viewpoint - *ST Suwu has issued a warning regarding the risk of delisting as its stock price has fallen below 1 RMB per share, closing at 0.99 RMB on August 14 [2][10]. Regulatory Compliance - According to the Shanghai Stock Exchange's listing rules, if a company's stock price remains below 1 RMB for 20 consecutive trading days, it may face delisting [4]. - *ST Suwu has previously issued multiple warnings about the potential for forced delisting due to significant legal violations [5][6]. Financial and Operational Issues - The company has been flagged for serious internal control issues, leading to a warning from the China Securities Regulatory Commission (CSRC) regarding potential major legal violations [6]. - *ST Suwu's subsidiaries have been involved in non-commercial trade activities that inflated revenue and profits, resulting in false financial reporting from 2020 to 2023 [6]. - The company's 2024 financial report received an "unable to express an opinion" from the auditing firm, prompting additional delisting risk warnings [6]. Shareholder Information - As of the end of Q1 2025, *ST Suwu had approximately 86,154 shareholders, reflecting a significant increase of 38.76% from the previous quarter [11][12]. Legal Disputes - *ST Suwu's subsidiary, Datuo Medical, has initiated arbitration against RegenBiotech, Inc. for breach of contract, seeking initial compensation of 1.6 billion RMB related to exclusive distribution rights for a product known as "AestheFill" [8][9].

Core Viewpoint - Hubei Huaron Holdings Co., Ltd. experienced a significant stock price fluctuation, with a cumulative increase of 12% over three consecutive trading days, indicating abnormal volatility [1] Group 1: Stock Performance - The stock price of Hubei Huaron Holdings has shown a cumulative increase of 12% over three trading days, which is classified as abnormal volatility [1] Group 2: Share Transfer Agreement - The controlling shareholder and its concerted parties signed a share transfer agreement with Bocheng Huineng to transfer 25.01% of shares for a consideration of 450.4129 million yuan [1] - The acquisition funds have not yet been secured, leading to uncertainties regarding the transaction [1] - The detailed equity change report has not been prepared, and no financial advisor has been appointed, further adding to the uncertainty of the acquisition [1] Group 3: Financial Performance and Risks - The company reported a negative net profit excluding non-recurring items for 2024, with expectations of continued losses in the first half of 2025 [1] - The stock has been subjected to delisting risk warnings, and if certain conditions are met next year, it may face financial delisting [1] - The company has advised investors to be cautious and to invest rationally [1]

Core Viewpoint - *ST Tianmao plans to voluntarily withdraw its A-shares from the Shenzhen Stock Exchange and transfer to the National Equities Exchange and Quotations (NEEQ) after delisting, with a shareholder meeting scheduled for August 25, 2025, to discuss the matter [1][4][6]. Group 1: Delisting Announcement - The company will suspend trading starting August 14, 2025, following the shareholder meeting's registration date of August 13, 2025 [2]. - The decision to withdraw from the stock exchange is aimed at protecting the interests of minority shareholders amid significant business uncertainties [4][6]. - A cash option will be provided to eligible shareholders at a price of 1.60 yuan per share, excluding certain restricted shares [4][6]. Group 2: Current Financial Status - The company is currently facing a delisting crisis, having failed to disclose its 2024 annual report and 2025 Q1 report within the legal timeframe [7]. - Following a trading suspension on May 6, 2025, the stock was resumed on July 8, 2025, but was subject to delisting risk warnings [7]. - The company has not yet disclosed its financial reports, citing ongoing verification and completion of the report preparation [7].

Group 1 - The stock of Chongqing Sansheng Industrial Co., Ltd. (*ST Sansheng, stock code: 002742) experienced an abnormal trading fluctuation, with a closing price drop of 15.28% on August 11, 2025, which is classified as an abnormal trading situation according to Shenzhen Stock Exchange regulations [1][2]. - The company is currently undergoing a restructuring process, having filed for reorganization with the Chongqing Fifth Intermediate People's Court, which has appointed Beijing Jindu (Shenzhen) Law Firm and Xinyong Zhong Accounting Firm as the administrators [1][2]. - Successful completion of the restructuring plan is expected to improve the company's asset-liability structure and operational status, promoting a return to healthy and sustainable development [2]. Group 2 - The board of directors confirmed that there are no undisclosed matters that should have been disclosed according to the Shenzhen Stock Exchange's listing rules, nor any significant information that could impact the trading price of the company's stock [2]. - If the restructuring fails, the company may be declared bankrupt, leading to the risk of stock delisting as per the relevant regulations [3].

Core Viewpoint - The auction of the Shenzhen Huangting Plaza, a key asset of Huangting International, is set to take place on September 9, with a starting price significantly reduced compared to previous valuations, reflecting the company's financial distress and the impact of debt obligations [2][5][6]. Group 1: Auction Details - Huangting Plaza, located in the central business district of Shenzhen, has an estimated value of approximately 4.36 billion yuan, with a starting auction price of about 3.05 billion yuan [2]. - The auction is a result of a legal dispute stemming from a 30 billion yuan loan taken by Huangting International's subsidiary, which could not be repaid due to policy changes and subsequent legal actions [4][6]. Group 2: Financial Implications - The asset's auction could lead to significant changes in Huangting International's financial structure, as the plaza represents 71.57% of the company's total assets and contributes 56.03% of its annual revenue [6][7]. - If the auction is successful, Huangting International may face a risk of being flagged for potential delisting due to financial performance metrics, as the remaining revenue after the plaza's contribution would fall below the required thresholds [7]. Group 3: Debt Resolution Efforts - Huangting International is currently in discussions with creditors to negotiate a comprehensive debt resolution plan, which may lead to the cancellation of the auction if an agreement is reached [8].

1月30日，证监会通报退市风险公司左江科技股份有限公司（简称"*ST左江"）财务造假案阶段性调查 进展情况。 2023年11月24日，证监会对*ST左江立案调查。证监会表示，现已初步查明，*ST左江2023年披露的财 务信息严重不实，涉嫌重大财务造假。该案目前正在调查过程中，证监会将尽快查明违法事实，依法严 肃处理。 因公司2022年年度经审计后的净利润(扣除非经常性损益前后孰低)为负值且营业收入低于1亿元，2023 年5月4日，公司被实施退市风险警示，股票简称由"左江科技"变更为"*ST左江"。在公司披星戴帽后， 股价不跌反涨，一路走高，最高达299.8元/股，成为史上最贵ST股。 【纠错】 【责任编辑:黄海荣 】 2023年12月1日，*ST左江公告称，因涉嫌信息披露违法违规，公司被证监会立案调查。此后，公司股 价大幅下跌。近日，*ST左江被游资炒作，股价再度翻倍上涨。1月23日晚间，公司发布公告称，公司 股票自2024年1月12日至1月22日连续六个交易日涨幅累计偏离110.78%，公司将对股票交易异常波动情 况进行核查，自1月24日开市起停牌，停牌时间不超5个交易日。 此次证监会的通报，再度向市场传递 ...