Core Viewpoint - Jiangsu Wuzhong (ST Suwu) is facing significant challenges, including a recent investigation by the China Securities Regulatory Commission (CSRC) and potential delisting risks, despite a brief turnaround in 2024 due to the successful launch of its product "AestheFill" [1][2][3][6]. Group 1: Financial Performance - Jiangsu Wuzhong reported a net profit of approximately 70.48 million yuan in 2024, primarily driven by the sales of "AestheFill," which sold around 20,000 units in the first two months post-launch, generating a gross profit of 66.41 million yuan [6]. - The company experienced a revenue decline of 28.64% year-on-year in 2024, with total revenue around 1.599 billion yuan, attributed to decreased pharmaceutical and trade income [6]. - In Q1 2024, the medical beauty business generated approximately 113 million yuan in revenue, marking a staggering year-on-year growth of 8781.59%, while the pharmaceutical segment saw a 52.51% decline in revenue [7]. Group 2: Regulatory Issues - The chairman of Jiangsu Wuzhong, Qian Qunshan, is under investigation by the CSRC for suspected violations of information disclosure laws, which has led to a significant drop in stock price [2][3]. - The company received an adverse audit opinion for its 2024 financial report due to issues related to overdue receivables and criminal liability for assisting in tax fraud, resulting in a risk warning and a change in stock designation to "*ST Suwu" [3][4]. - If the CSRC concludes that the company has committed major violations, it may face mandatory delisting under the Shanghai Stock Exchange rules [2]. Group 3: Competitive Landscape - Jiangsu Wuzhong's exclusive agency rights for "AestheFill" are in jeopardy as a competitor, Aimeike, has acquired 85% of the product's parent company, Regen, for approximately 1.373 billion yuan, raising concerns about the sustainability of its market position [8]. - The company previously stated that its rights to "AestheFill" are limited to a certain period and do not include ownership or production rights [8].

Group 1 - The company *ST Yushun has announced a risk of being delisted due to a net loss of 17.57 million yuan for the fiscal year 2024, with a net loss of 21.43 million yuan after excluding non-recurring gains and losses [2] - The company's operating revenue for 2024 was 220 million yuan, which is below the 300 million yuan threshold, triggering delisting risk warnings effective from May 6, 2025 [2] - The company is planning to acquire 100% equity of three companies, including Zhong'en Cloud (Beijing) Data Technology Co., Ltd., which may constitute a major asset restructuring, but the transaction is still in the planning stage and faces approval risks [2] Group 2 - As of the end of Q1 2025, the company had a cash balance of 14.50 million yuan and total liabilities of 155 million yuan, indicating potential negative impacts on operational performance if sufficient transaction funds cannot be raised [2] - The company’s customer concentration is high, and any changes in demand from key customers or difficulties in acquiring new clients could adversely affect its performance [2] - As of May 15, 2025, the company's price-to-book ratio was 16.07 times, significantly deviating from the industry average price-to-earnings ratio of 37.99 times and price-to-book ratio of 3.22 times for comparable listed companies in the manufacturing sector [3]

证券代码：600190/900952 证券简称：*ST锦港（维权）/*ST锦港B 公告编号：2025-047 锦州港股份有限公司 关于公司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。 重要内容提示: ●锦州港股份有限公司（以下简称"公司"）股票已于 2025年5月6日起被实施重大违法类退市风险警示， 今日公司股价盘中大幅上涨，股价波动大。经核，公司不存在应披露未披露事项，敬请广大投资者理性 投资并注意投资风险。 ●公司于2025年4月29日收到中国证券监督管理委员会（以下简称"中国证监会"）《行政处罚事先告知 书》，显示公司触及重大违法强制退市情形，公司股票已于 2025年5月6日起被实施重大违法类退市风 险警示。后续收到行政处罚决定书后，根据其认定的事实，公司股票将被实施重大违法强制退市。 ●截至2025年5月14日，公司A股、B股股票收盘价已连续7个交易日均低于人民币1元。如其A、B股股票 的收盘价同时连续20个交易日的每日股票收盘价均低于1元，公司股票将被终止上市交易。 一、公司存在重大违法 ...

证券代码：600190/900952 证券简称：*ST 锦港/*ST 锦港 B 公告编号：2025-048 锦州港股份有限公司 关于公司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。 重要内容提示: ?2025 年 5 月 15 日，锦州港股份有限公司（以下简称"公司"）股票价格 波动较大，如后续公司股票交易进一步出现重大异常，为保护中小投资者合法权 益，公司将依规申请停牌核查。敬请广大投资者理性投资并注意投资风险。 ?截至 2025 年 5 月 15 日，公司 A 股、B 股股票收盘价已连续 8 个交易日均 低于人民币 1 元。如其 A、B 股股票的收盘价同时连续 20 个交易日的每日股票收 盘价均低于 1 元，公司股票将被终止上市交易。 截至 2025 年 5 月 15 日，公司 A 股、B 股股票收盘价已连续 8 个交易日均低 于人民币 1 元。根据《股票上市规则》第 9.2.1 条第一款第（三）项规定，在上 海证券交易所既发行 A 股股票又发行 B 股股票的上市公司，其 A、B 股股票的收 ...

年报"难产"、审计机构反目、经营困局难解。ST恒立（000622.SZ）的退市危机正迎来"终局时刻"。 新东家入主未满9个月，有"不死鸟"之称的*ST恒立(000622.SZ)再次遭遇退市危机。 *ST恒立5月13日公告称，公司已在规定期限内向深交所提交听证申请。此前，该公司因年报"难产"触发了退市红线。 该公司将年报难产归咎于审计机构，并向后者起诉索赔3827万元。然而，更深层次的问题在于，*ST恒立与审计机构 在部分营业收入确认上存在重大分歧，若相关收入无法计入财报，该公司2024年扣除后的营收可能低于3亿元，触发 退市标准。 目前，*ST恒立虽已提交听证申请，但市场普遍认为，该公司翻盘可能性极低。这家曾多次"披星戴帽"、数度易主的 上市公司，可能终将难逃退市命运。 与审计机构反目年报"难产" *ST恒立退市风险的导火索，是未在法定期限内披露2024年年报。5月6日，证监会已对该公司立案调查。次日，深交 所发出告知书，因未在法定期限内披露过半数董事保证真实、准确、完整的2024年年报，触及了深交所规定的股票终 止上市情形，因此拟决定终止该公司股票上市。目前，*ST恒立已提交听证申请，试图最后一搏。 *ST ...

股票代码：600421 股票简称：*ST华嵘 公告编号：临 2025-030 公司股票价格自 2025 年 5 月 6 日至 5 月 15 日连续八个交易日内收盘价格涨 幅偏离值累计达 35.94%，公司股价短期波动幅度较大，郑重提醒广大投资者充 分了解二级市场交易风险，切实提高风险意识，理性决策，审慎投资。 湖北华嵘控股股份有限公司 股票交易风险提示公告 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个别及连带责任。 重要内容提示： 一、生产经营情况 公司目前生产经营活动正常，主营业务未发生重大变化，不存在其他影 响公司股票交易价格异常波动的重大事项，不存在应披露而未披露的重大信 息。 二、二级市场交易风险 湖北华嵘控股股份有限公司董事会 ? 公司 2024 年度经审计的扣除非经常性损益后的净利润为负值，且扣除与主 营业务无关的业务收入和不具备商业实质的收入后的营业收入低于 3 亿元， 触及《上海证券交易所股票上市规则》第 9.3.2 条第一款第（一）项规定， 公司股票于 2025 年 4 月 29 日起实施退市风险警示。公司 202 ...

Core Viewpoint - Jiangsu Wuzhong has faced multiple negative events since 2025, including regulatory scrutiny and financial difficulties, leading to its stock being placed on risk warning status and potential delisting [1][3][5]. Group 1: Regulatory Issues - The chairman of Jiangsu Wuzhong, Qian Qunshan, received a notice from the China Securities Regulatory Commission (CSRC) regarding an investigation for suspected violations of information disclosure laws [1]. - The company has been under investigation since February 27, 2025, for similar allegations, with the CSRC deciding to initiate a case against it [3]. - A subsidiary's former legal representative was prosecuted for involvement in fraudulent activities related to export tax rebates [3]. Group 2: Financial Performance - In 2024, Jiangsu Wuzhong reported a revenue of 1.599 billion yuan, a year-on-year decrease of 28.64%, but achieved a net profit of 70.48 million yuan, marking a turnaround from losses [4]. - The pharmaceutical segment generated revenue of 1.229 billion yuan, down 33.19% year-on-year, while the medical beauty sector saw a significant increase in revenue to 330 million yuan, up 4225.65% [4]. Group 3: Corporate Governance and Internal Control - Despite a slight improvement in financial performance, Jiangsu Wuzhong has revealed serious internal control issues, pushing the company closer to delisting [5]. - The controlling shareholder, Suzhou Wuzhong Investment Holdings, held a 17.24% stake in the company as of the first quarter of 2025 [6].

Core Viewpoint - *ST Suwu is facing significant challenges, including an investigation by the China Securities Regulatory Commission (CSRC) for information disclosure violations, which has led to a risk of forced delisting and a sharp decline in stock price [2][4][10] Group 1: Regulatory Issues - The chairman of *ST Suwu, Qian Qunshan, has been notified of a formal investigation by the CSRC for suspected violations of information disclosure laws [2] - The company has been under investigation since February 2025 for information disclosure violations, and it announced a significant risk of forced delisting in April 2025 [4] - The CSRC's investigation is ongoing, and *ST Suwu has not yet received a conclusive opinion or decision regarding the investigation [7] Group 2: Financial Performance - In 2024, *ST Suwu reported revenue of 1.599 billion yuan and a net profit of 70.48 million yuan, marking a five-year high [10] - The company achieved profitability in 2024 primarily due to the sales of the "Tongyan Needle," which generated 195 million yuan in revenue with a gross margin of 82.89% [8] - Despite the positive revenue and profit figures, *ST Suwu's cash flow situation remains concerning, with a significant decline in cash reserves from 1.152 billion yuan in 2024 to 168 million yuan in Q1 2025 [10] Group 3: Cash Flow Concerns - The company is experiencing severe cash flow issues, with operating cash flow showing continuous outflows of 204 million yuan in 2023 and 275 million yuan in early 2024 [10] - As of Q1 2025, *ST Suwu's operating cash flow net amount was -924 million yuan, indicating a substantial decline year-on-year [10] - The company's short-term borrowings reached 1.304 billion yuan, creating significant short-term repayment pressure [10]

Core Viewpoint - The company is facing significant financial challenges due to the non-repayment of funds by its controlling shareholder and related parties, which could lead to severe consequences including stock suspension and delisting if not resolved promptly [1][2]. Group 1: Financial Issues - The controlling shareholder, Dongfang Shishang Investment, and its affiliates have cumulatively repaid 0 yuan of the occupied funds, with a remaining balance of approximately 387 million yuan [1]. - The company has initiated legal action regarding non-operational fund occupation through accounts receivable factoring, but the court did not support the company's claims [1]. - The company is also pursuing legal action against Beijing Tonglong Automobile Sales Co., Ltd. for the non-delivery of an AI intelligent driving training system, with the case yet to be heard [1]. Group 2: Regulatory Risks - According to the Shanghai Stock Exchange regulations, if the company fails to recover the 387 million yuan within six months (by June 19, 2025), its stock will be suspended [2]. - If the company does not complete the required rectification within two months after suspension, it will face a delisting risk warning [2]. - Continued failure to rectify the situation within the subsequent two months could lead to the termination of the company's stock listing [2].

Core Viewpoint - The lawsuit against the auditing firm by *ST Hengli reflects the company's severe risk of delisting due to its inability to disclose the 2024 annual report on time, following a negative net profit for 2023 and revenue below 100 million yuan [1][2]. Group 1: Company Situation - Hengli has been under delisting risk warning due to a negative audited net profit for 2023 and revenue below 100 million yuan [1]. - The company has faced continuous revenue decline, with net profits in 2022 and 2023 being negative, and it has not turned a profit in the first three quarters of 2024 [2]. - The previous auditing firm issued a qualified opinion on Hengli's 2023 financial report, highlighting issues with prepaid items and other equity investments, raising doubts about the company's ability to continue as a going concern [2]. Group 2: Audit Issues - Hengli accuses the auditing firm, Shenzhen Xutai, of creating obstacles, citing unreasonable audit scheduling, lack of diligence, improper work arrangements, and unqualified personnel [1]. - The audit report was delivered late and was criticized by the company as being filled with errors, leading to questions about the auditing firm's professionalism [1][2]. - The short preparation time for the audit, given the company's complex business and delisting risk, has been deemed insufficient [2]. Group 3: Future Outlook - To regain market confidence, Hengli must undertake systematic reforms to address both operational and governance challenges [2]. - The company needs to establish transparent communication with the auditing firm and proactively disclose substantial progress in business improvement and risk mitigation to investors [2]. - A successful return to the A-share market requires Hengli to abandon the mindset of "report repair" and demonstrate sustainable operational capability through genuine performance and compliant governance [3].