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 ...

ST中迪公告称，公司股票于2025年11月3 - 5日连续3个交易日收盘价格涨幅偏离值累计达16.19%，属异 常波动。2025年前三季度，公司营收13471.22万元，同比降52.64%；利润总额 - 15106.95万元，同比降 41.83%；扣非净利润 - 13234.92万元，同比降34.12%。若2025年度经审计的相关指标不达标，公司股票 存在被实施退市风险警示的风险。此外，控股股东股份拍卖已完成，尚需后续手续，控制权或变更。 ...

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 ...

Core Viewpoint - *ST亚振 has experienced a dramatic stock price increase, rising nearly 10 times within a short period, despite ongoing financial losses and delisting risks [1][5][10] Group 1: Stock Performance - The stock price surged from a low of 4.45 yuan in April to a high of 48.55 yuan, marking a maximum increase of 991% [2][3] - The stock saw a significant drop in shareholder accounts, decreasing from 25,240 to 14,418 over one year, a decline of 42% [2][3] - In the initial phase of the stock price increase, shareholder accounts halved from 14,418 to 7,286, a drop of 49% [3][4] Group 2: Shareholder Dynamics - The reduction in shareholder accounts indicates a concentration of ownership prior to the stock price surge [2][3] - By the end of the third quarter, the number of shareholders increased to 10,220, suggesting a potential distribution of shares [4] Group 3: Company Developments - The stock price rally began after a change in control, with new major shareholders acquiring 50.47% of the company at 5.68 yuan per share [1][5][8] - The company announced a cash acquisition of 51% of Guangxi Zirconium Industry, which further fueled the stock price increase [1][8] - Despite the stock price increase, the company reported a net loss of 31.41 million yuan for the first three quarters of the year [9] Group 4: Regulatory and Risk Factors - The company has faced multiple negative announcements regarding potential delisting risks, including a warning about continuous losses [5][10] - The stock was placed under delisting risk warnings due to failing to meet financial performance criteria [10]

Core Viewpoint - *ST Suwu is facing significant challenges, including a sharp decline in revenue and net profit, alongside ongoing arbitration regarding the exclusive agency rights for the AestheFill product, which is critical to its business operations [2][5][6]. Financial Performance - In Q3 2025, *ST Suwu reported a revenue decline of 63.93% year-on-year, amounting to 148 million yuan, with a net profit attributable to shareholders of approximately -43 million yuan, a drastic decrease of 308.72% compared to the previous year [2][4]. - For the first three quarters of the year, the company's revenue fell by 38.85% to 784 million yuan, and the net profit decreased by 294.03% to -87.47 million yuan, primarily due to significant impairment provisions for trade receivables [5][6]. Business Segments - The pharmaceutical business generated a total revenue of 468 million yuan, down 55.79% year-on-year, while the aesthetic biomedical segment achieved a revenue of 304 million yuan, reflecting a growth of 52.78% [5][6]. - The AestheFill product, crucial for the aesthetic segment, faced sales disruptions due to an ongoing arbitration case, which has created uncertainty for the company's future performance in this area [6][7]. Regulatory and Legal Issues - *ST Suwu is under scrutiny from the China Securities Regulatory Commission (CSRC) for alleged violations of information disclosure, leading to a formal investigation and potential penalties [7][9]. - The company has been implicated in inflating revenue figures by approximately 1.771 billion yuan from 2020 to 2023, raising concerns about its financial integrity and leading to multiple delisting risks [8][9]. Management Changes - Recent changes in the company's management include the resignation of the securities affairs representative, with a new appointment made to assist the board in fulfilling its responsibilities [9].

Core Viewpoint - *ST Suwu is facing significant challenges, including a sharp decline in revenue and net profit, alongside multiple delisting risks, particularly related to the arbitration case concerning the exclusive agency rights for the AestheFill product. Financial Performance - In Q3 2025, *ST Suwu reported a revenue decline of 63.93% year-on-year to 148 million yuan, with a net profit attributable to shareholders of approximately -43.05 million yuan, a drastic decrease of 308.72% compared to the same period last year [1][3] - For the first three quarters, the company's revenue fell by 38.85% to 784 million yuan, and the net profit decreased by 294.03% to -87.47 million yuan, primarily due to significant impairment provisions for trade receivables [4][5] - The pharmaceutical business generated a total revenue of 468 million yuan, down 55.79% year-on-year, while the medical aesthetics sector achieved a revenue of 304 million yuan, up 52.78% [4] Business Operations - The decline in revenue is attributed to a significant drop in income from pharmaceutical and medical aesthetics businesses, with the company admitting it is currently unable to continue selling AestheFill products due to ongoing arbitration [1][5] - AestheFill, a key product for *ST Suwu, was launched in 2024 and contributed significantly to the company's revenue, accounting for 35.55% of total revenue in Q1 2024 [5][6] Legal and Regulatory Issues - *ST Suwu is under scrutiny for alleged information disclosure violations, having received a notice from the China Securities Regulatory Commission (CSRC) regarding an investigation [7] - The company has been found to have inflated revenue by approximately 1.771 billion yuan from 2020 to 2023 through non-commercial trade activities, leading to multiple delisting risks [8][9] - The company has faced a series of legal challenges, including a criminal case against its subsidiary for tax fraud, which further complicates its financial situation [9]