可能被实施重大违法强制退市的第四次风险提示公告 本公司董事会及董事会全体成员保证公告内容不存在虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实、准确和完整承担法律责任。 一、公司股票可能被实施重大违法强制退市风险暨立案调查进展情况 公司于 2025 年 2 月 26 日收到中国证监会《立案告知书》（证监立案字 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。 具体内容详见公司于 2025 年 2 月 27 日披露的《关于收到中国证券监督管理委员 会立案告知书暨风险提示公告》（公告编号：临 2025-007）。 （处 罚字〔2025〕58 号），认定公司子公司江苏吴中进出口有限公司、中吴贸易发 展(杭州)有限公司、江苏吴中海利国际贸易有限公司通过与浙江优诺德贸易有限 公司等多家关联公司开展无商业实质的贸易业务，虚增营业收入、营业成本和利 润。上述行为导致*ST 苏吴在 2020 年至 2023 年年度报告中分别虚增营业收入 露营业收入的 26.46%、26.39%、21.26%、16.82%；分别虚增营业成本 48,068.05 万元、44,823.70 万元、41,082.09 万元 ...

Core Viewpoint - The company is facing significant risks of forced delisting due to alleged financial data misrepresentation in its annual reports, leading to an investigation by the China Securities Regulatory Commission (CSRC) [2] Group 1: Judicial Auction of Shares - The company's controlling shareholder, Zhu Changren, has had 7,800,000 shares auctioned, representing 17.30% of his holdings and 2.39% of the company's total shares [2][3] - The auction concluded with a total transaction amount of RMB 16,080,000, and the final results depend on the court's ruling [2][6][7] - If the shares are successfully transferred, Zhu's total holdings will decrease from 45,075,520 shares to 37,275,520 shares, reducing his ownership percentage from 13.84% to 11.44% [3][9] Group 2: Company Operations and Contracts - From April 1 to June 30, 2025, the company signed 6 new project contracts with a total value of RMB 2.2185 million, including 4 planning and design contracts [13] - For the year 2025, the company has cumulatively signed 35 contracts worth RMB 39.7555 million, all of which are currently in execution [13]

证券代码：603388 证券简称：*ST 元成 公告编号：2025-076 元成环境股份有限公司 ● 截至本公告披露日，本次司法拍卖网拍阶段已经结束，拍卖成交 定为准，后续还涉及缴款、法院执行法定程序、股权变更过户等环节，其最终 结果存在不确定性。 关于控股股东、实际控制人所持公司部分股份 被第二次司法拍卖的进展公告 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： ● 重大违法强制退市风险。2025 年 7 月 1 日收到中国证券监督管理委员会 下发的《立案告知书》（编号：证监立案字 01120250019 号）：因公司涉嫌年 报等定期报告财务数据虚假披露，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，决定对公司立案，同时公司控股股东、实际 控制人祝昌人先生也被同步立案。若后续经中国证监会行政处罚认定的事实， 触及《上海证券交易所股票上市规则》规定的重大违法强制退市情形，公司股 票将被实施重大违法强制退市。敬请投资者注意投资风险。 ● 本次被司法拍卖的股票为公司控股股东、实际控制人祝昌人 ...

Core Viewpoint - The company, Yuancheng Environment Co., Ltd., is facing significant risks of forced delisting due to alleged financial data misrepresentation and continuous losses, which have led to abnormal stock price fluctuations and regulatory scrutiny [2][9][25]. Group 1: Stock Trading Abnormalities - The company's stock experienced a cumulative price increase deviation of over 12% over three consecutive trading days on July 25, 28, and 29, 2025, indicating abnormal trading activity [2][4]. - The company has been placed under risk warning due to the abnormal stock price fluctuations as per the Shanghai Stock Exchange trading rules [4]. Group 2: Regulatory Actions and Risks - On July 1, 2025, the company received a notice from the China Securities Regulatory Commission (CSRC) regarding an investigation into suspected false disclosures in annual reports, which could lead to forced delisting if violations are confirmed [2][9][25]. - The company and its controlling shareholder, Zhu Changren, are under investigation, and if found guilty, the company may face severe penalties including delisting [9][21]. Group 3: Financial Performance and Risks - Preliminary estimates indicate that the company expects a net loss attributable to shareholders of between RMB 147 million and RMB 93 million for the first half of 2025, raising concerns about its financial viability [3][10]. - The company has been warned that if it does not meet the delisting criteria after the 2025 annual report, its stock may be terminated from listing [10]. Group 4: Operational Status - Despite the financial and regulatory challenges, the company's production and operational activities are reported to be normal, with no significant changes in business operations or market conditions [5][6]. Group 5: Shareholder and Management Actions - There have been no undisclosed significant matters that could impact the company's stock price, and management has confirmed that no insider trading occurred during the stock's abnormal fluctuation period [7][8]. - The company is committed to improving compliance and information disclosure practices following the regulatory scrutiny [23].

证券代码：600200 证券简称：*ST 苏吴 公告编号：临 2025-077 江苏吴中医药发展股份有限公司关于公司股票 可能被实施重大违法强制退市的第三次风险提示公告 本公司董事会及董事会全体成员保证公告内容不存在虚假记载、误导性陈 截至本公告披露日，公司尚未收到就上述立案调查事项的正式处罚决定，公 司将全力配合中国证监会的相关工作,并严格按照相关要求履行信息披露义务。 如根据正式的行政处罚决定书结论，公司触及重大违法强制退市情形，公司股票 将被终止上市。 二、其他说明及风险提示 正式处罚决定为准。敬请广大投资者关注后续公告并注意投资风险。 司后续收到行政处罚决定书，显示公司触及重大违法类强制退市情形，公司将申 请停牌，并及时披露有关内容。上海证券交易所将在停牌之日起的 5 个交易日内， 向公司发出拟终止股票上市的事先告知书，后续将根据《上海证券交易所股票上 市规则》的相关规定，作出是否终止公司股票上市的决定。 公司指定信息披露媒体为《中国证券报》《上海证券报》以及上海证券交易 所网站（www.sse.com.cn），有关公司的信息均以上述指定媒体刊登的信息为准。 敬请投资者注意投资风险。 述或者重大遗漏， ...

Performance Disclosure - Tongzhou Electronics reported a revenue of 540 million yuan for the first half of 2025, an increase of 606.52% year-on-year, with a net profit attributable to shareholders of 203 million yuan, up 662.77% year-on-year, and a net profit of 208 million yuan after deducting non-recurring items, an increase of 588.4% year-on-year [1] - Zhejiang Dingli achieved a revenue of 4.336 billion yuan in the first half of 2025, a year-on-year growth of 12.35%, with a net profit attributable to shareholders of 1.051 billion yuan, up 27.49% year-on-year [2] - Rebecca reported a revenue of 598 million yuan for the first half of 2025, a year-on-year increase of 4.2%, with a net profit attributable to shareholders of 9.3759 million yuan, up 15.31% year-on-year, and basic earnings per share of 0.01 yuan [3] Shareholding Changes - Huashu High-Tech announced that its major shareholder, Guotou Technology Achievement Transformation Venture Capital Fund, reduced its shareholding from 7.00% to 5.93%, with a total of approximately 4.4437 million shares sold between July 1 and July 25, 2025 [4] - Zijin Mining's vice president plans to reduce his holdings by no more than 250,300 shares to raise funds for the company's 2025 employee stock ownership plan, with the reduction to occur within three months after the announcement date [5] - New Media Co. announced that its shareholder, Hengqin Hongtu Rongyao Venture Capital Partnership, plans to reduce its holdings by no more than 6.8434 million shares, representing up to 2.99% of the company's total share capital, through centralized bidding or block trading from August 18 to November 17, 2025 [6] Risk Matters - *ST Suwu announced that its stock may face mandatory delisting due to suspected violations of information disclosure, as the China Securities Regulatory Commission has initiated an investigation, identifying false records in its financial reports from 2020 to 2023 [7] - Beihua Co. confirmed that it has no undisclosed significant matters, despite its stock experiencing a cumulative price drop of over 20% in three consecutive trading days, indicating normal operational conditions [8] - Nanmin Group also stated that it has no undisclosed significant matters, following a similar price drop scenario, confirming that its operational conditions remain stable [9][10]

Core Viewpoint - The article highlights the increasing trend of strict regulatory measures against listed companies involved in serious violations, leading to forced delisting and criminal penalties for key offenders [2][10][12]. Group 1: Forced Delisting - On July 25, Jinzhou Port will be delisted due to serious violations, marking it as another company facing forced delisting [2]. - Since early 2025, nine companies have entered the delisting process due to serious violations, including Zhuolang Technology and Puli Pharmaceutical [11]. - The regulatory focus on serious violations for forced delisting has intensified, with the new policies established in April 2024 and July 2025 reinforcing this trend [10][11]. Group 2: Criminal Penalties - The regulatory environment has shifted towards a "three penalties linkage" approach, combining administrative, civil, and criminal penalties for serious violators [5][8]. - Companies like Jintongling and Ruiskanda have faced criminal charges after administrative and civil penalties, indicating a clear escalation in regulatory actions [6][8]. - The number of companies facing criminal penalties has increased significantly, with over ten companies experiencing criminal measures since early 2025 [7][8]. Group 3: Accountability of Third Parties - The regulatory body has begun to impose penalties on third parties involved in financial fraud, as seen in the Yuebo Power case where accomplices were fined [3][15]. - The trend of holding third parties accountable reflects a broader strategy to dismantle the networks that facilitate financial fraud in the capital market [15]. Group 4: Investor Protection - Regulatory measures are being enhanced to protect investors affected by fraudulent activities, including civil compensation initiatives [16]. - The introduction of advance compensation and commitments from administrative enforcement parties aims to provide timely restitution to investors [16].

Core Viewpoint - Fujian Zitian Media Technology Co., Ltd. (*ST Zitian*) is facing delisting due to significant financial misreporting, with the Shenzhen Stock Exchange planning to terminate its stock trading by July 23, 2025 [1][3]. Group 1: Financial Misconduct - The company has been found to have false records in its financial reports for 2022 and 2023, with a total misreported revenue of approximately 2.5 billion yuan, accounting for 63.53% of the total reported revenue for those years [3]. - The company received an administrative penalty notice from the Fujian Securities Regulatory Bureau, indicating that it violated the Shenzhen Stock Exchange's listing rules due to continuous false reporting of revenue exceeding 500 million yuan over two years [3]. Group 2: Company History and Transformation - Originally established as Nantong Forging Equipment Co., Ltd. in March 2002, the company was a leading manufacturer of hydraulic machines before its transition to the media sector [4]. - After going public in December 2011, the company faced declining sales and significant losses, with a net profit drop of 59.35% in its second year of listing [4]. - The company shifted its focus to acquisitions for business transformation, acquiring multiple companies in the advertising sector from 2017 to 2020, ultimately divesting its original forging equipment business [5][6]. Group 3: Recent Developments - In June 2022, the company announced plans to acquire 100% of Pea Pod, a leading digital service company, for 1.4 billion yuan, with a premium rate of 835.93%, but the deal was ultimately unsuccessful due to unfavorable market conditions [6].

Core Viewpoint - The company *ST Zitian (300280.SZ) is facing delisting due to significant financial misreporting, with a total of 2,499,275,347.89 yuan in false revenue reported for 2022 and 2023, accounting for 63.53% of the total disclosed revenue for those years [3]. Group 1: Company Background and History - *ST Zitian, originally known as Nantong Forging Equipment Co., Ltd., was established in March 2002 and was once a leading manufacturer of hydraulic machines in China [5]. - The company went public on the ChiNext board in December 2011 but faced declining sales and profitability due to economic downturns and industry overcapacity, resulting in a 59.35% year-on-year decline in net profit in its second year of listing [6]. Group 2: Business Transformation and Acquisitions - In response to declining performance, the company pursued a strategy of acquisitions to transform its business, acquiring 100% of Shenzhen Olive Leaf Technology in 2017 and 70% of Yijia Jingshi in 2018, among others [7]. - By 2021, the company had completely divested its forging equipment business and rebranded as Zitian Technology, focusing solely on modern advertising services, including internet advertising and cloud services [7][8]. Group 3: Financial Misconduct and Consequences - The company received an administrative penalty notice from the Fujian Securities Regulatory Bureau due to false financial reporting for two consecutive years, which could lead to mandatory delisting under the Shenzhen Stock Exchange rules [3]. - As of July 19, 2025, the company had not disclosed corrected financial reports, prompting the Shenzhen Stock Exchange to issue a notice of intent to terminate its stock listing [3].

Core Viewpoint - Jiangsu Wuzhong is facing a significant setback due to the unilateral termination of its exclusive agency rights for the AestheFill product by Regen Biotech, which the company claims is an act of "malicious breach of contract" by its partner Aimeike [2][8]. Group 1: Agency Dispute - Jiangsu Wuzhong's subsidiary, Datuo Medical, received a termination notice from Regen Biotech regarding the exclusive distribution agreement for AestheFill [2][4]. - Regen Biotech alleges that Datuo Medical violated the agreement by transferring the agency rights to its parent company, Jiangsu Wuzhong Meisheng Biotechnology [4]. - The termination has led to Regen Biotech refunding payments for undelivered orders, further complicating Jiangsu Wuzhong's financial situation [2]. Group 2: Financial Impact - AestheFill, known as the "童颜针" (youthful needle), was a key product for Jiangsu Wuzhong, contributing significantly to its revenue and profit [13]. - In 2024, Jiangsu Wuzhong reported a revenue of 1.599 billion, with AestheFill sales accounting for 326 million, representing 20.42% of total revenue [13]. - The loss of exclusive agency rights could drastically reduce Jiangsu Wuzhong's income and profit, as AestheFill was a major driver of its financial recovery [13]. Group 3: Company Performance and Challenges - Jiangsu Wuzhong has struggled with poor financial performance, reporting losses in multiple years since 2018 [11]. - The company is also facing potential delisting due to significant financial irregularities, including inflated revenues and profits from 2020 to 2023 [14]. - The stock price of Jiangsu Wuzhong has declined by 4.71%, closing at 1.62 yuan, reflecting investor concerns over its financial stability [14].