Core Viewpoint - ST Shengda has successfully completed the "hat removal" process after 7 years, with the Shenzhen Stock Exchange agreeing to lift the risk warning on the company's stock, which will now be traded under the name "Shengda Forestry" [2][4]. Group 1: Company Background - The stock of Shengda Forestry was placed under risk warning on October 9, 2018, due to financial misconduct by its former controlling shareholder, Sichuan Shengda Forest Products Group Co., Ltd., which included fund occupation and unauthorized guarantees [4]. - The company has undergone significant changes, including the emergence of Huabao Trust as the largest shareholder, holding 28.33% of the company's shares as of the announcement date [5][6]. Group 2: Resolution of Core Risks - The company has resolved two major risk issues: the absence of fund occupation by the controlling shareholder and the elimination of serious violations regarding guarantees [5][6]. - All guarantee responsibilities have been fulfilled or deemed invalid by court rulings, and the company has made provisions for potential liabilities related to past guarantees [6]. Group 3: Legal Actions and Financial Recovery - The former actual controller has been sentenced to four years in prison for damaging the interests of the listed company, with other executives also receiving prison sentences [7]. - The company plans to continue legal actions against the former controlling shareholder to recover losses related to unauthorized guarantees and will actively investigate the financial status of the former shareholder to identify assets for debt repayment [7]. Group 4: Financial Performance - For the year 2024, the company reported a revenue of 733 million yuan, a decrease of 5.90%, but a significant increase in net profit to 11.99 million yuan, up 1190.67% year-on-year [8]. - In the first quarter of 2025, the company achieved a revenue of 230 million yuan, a year-on-year increase of 52.20%, with net profit rising by 177.20% to 11.37 million yuan [8]. Group 5: Stock Performance - Since April, the stock price of ST Shengda has surged by 61.86%, closing at 3.82 yuan per share on May 16, with a total market capitalization of 2.874 billion yuan [9].

Group 1 - As of May 16, three ST companies, *ST Aonong, ST Muyao, and *ST Kexin, announced the removal of their ST labels, bringing the total number of companies that have "un-capped" this year to over 20 [1] - In April and May, three listed companies from Hunan successfully removed their ST labels, with two more applying for the same [1] - The three Hunan companies that successfully "un-capped" are Bubugao, Jiuzhitang, and Youkeshu [1] Group 2 - ST Bubugao successfully "un-capped" on April 21, attributed to successful restructuring and the introduction of the Pang Donglai model, enhancing its competitive advantage [1] - ST Bubugao's fresh product category gross margin increased to 22%, exceeding the industry average by 15 percentage points, and its unique brand ratio in shopping centers is expected to reach 31% by 2024 [1] - For Q1 2025, ST Bubugao reported earnings per share of 0.04 yuan and a net profit of 119.04 million yuan, with a year-on-year growth rate of 488.44% [1] Group 3 - ST Jiuzhitang successfully "un-capped" on May 7, focusing on the production and sales of hepatitis and blood supplement series drugs [2] - The company rectified internal control deficiencies that led to a negative audit opinion last year, and announced a cash dividend of 3 yuan per 10 shares, totaling 250 million yuan [2] Group 4 - *ST Youkeshu completed its restructuring and changed its name to "Youkeshu," focusing on B2C cross-border e-commerce [2] - The company reported a debt restructuring gain of 210 million yuan, with a net profit of 17,290 yuan for Q1 2025, reflecting a year-on-year growth rate of 105.80% [2] Group 5 - *ST Kaiyuan announced a cash asset donation of 230 million yuan from an affiliate, leading to a positive net asset position by the end of 2024 [3] - *ST Jingfeng is in the pre-restructuring phase and has applied to remove its delisting risk warning after achieving a positive net asset position for 2024 [3]

Core Viewpoint - ST Shuguang has successfully completed the rectification of internal control deficiencies, eliminating uncertainties regarding its ability to continue operations, and will officially remove its "ST" designation after nearly three years [1][3]. Group 1: Company Background - ST Shuguang specializes in automotive axle components and complete vehicles, with notable brands including "Huang Hai Bus" and "Shuguang Axle" [3]. - The company faced internal control issues leading to negative audit opinions in 2021 and 2022, resulting in its stock being placed under risk warnings [3]. Group 2: Recent Developments - In August 2023, a change in the controlling shareholder ended a prolonged control dispute, providing an opportunity for operational recovery [6]. - The company reported significant improvements in production and sales for 2024, with complete vehicle production and sales increasing by 19.24% and 66.40% respectively, and axle production and sales rising by 29.48% and 19.57% [6]. Group 3: Financial Performance - For the fiscal year 2024, ST Shuguang achieved revenue of 1.475 billion yuan, an increase of 8.20% year-on-year, while the net loss attributable to shareholders was reduced to 341 million yuan [6]. - The company also reported substantial improvements in cash flow from operating activities and working capital [6]. Group 4: Audit and Regulatory Changes - The auditing firm issued standard unqualified opinions on both the internal control and financial statements for the fiscal year 2024 [6]. - On April 11, 2025, the board applied to the exchange to lift the risk warning, which was approved on April 17, 2025, allowing the stock to resume trading without risk warnings on April 21, 2025 [7].