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]

*ST天茂（000627）将于明日(8月14日)起停牌。 今日(8月13日)晚间，*ST天茂公告，公司拟以股东会决议方式主动撤回A股股票在深交所的上市交易，并在股票终止上市后申请转入 全国中小企业股份转让系统有限责任公司代为管理的退市板块转让。 公司将于2025年8月25日召开2025年第一次临时股东会，审议公司以股东会决议方式主动终止上市相关议案。本次股东会股权登记日 为8月13日。 根据相关规则，公司股票自股东会股权登记日的次一交易日，即2025年8月14日开市起停牌。 值得注意的是，此次退市事项需经股东会审议通过。公司将于2025年8月25日召开2025年第一次临时股东会，审议公司以股东会决议 方式主动终止上市相关议案。公司此前也在公告中表示，若股东会不能通过相关议案，本次股东会的异议股东及其他股东将不能获 得现金选择权。 此前，公司曾在8月8日晚间发布公告称，由于公司拟进行业务结构调整，面临重大不确定性，可能对公司造成重大影响。为保护中 小股东利益，根据《深交所股票上市规则》等相关法律、法规及规范性文件的规定，经公司董事会审议通过，公司拟以股东会决议 方式主动撤回A股股票在深圳证券交易所的上市交易，并 ...

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 ...

证券代码：000627 证券简称：*ST天茂 公告编号：2025-038 天茂实业集团股份有限公司 股票可能被终止上市的第五次风险提示公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、误导 性陈述或者重大遗漏。 特别提示： 票交易被实施退市风险警示暨停复牌安排的公告》（公告编号：2025-022），公司无法在法定 期限内披露 2024 年年度报告和 2025 年第一季度报告，公司股票已自 2025 年 5 月 6 日开市起 停牌，公司在股票停牌的两个月内仍未能披露 2024 年年度报告和 2025 年第一季度报告，公司 股票于 2025 年 7 月 8 日复牌并被实施退市风险警示。 市风险警示之日起的两个月内仍未披露过半数董事保证真实、准确、完整的 2024 年年度报告， 深圳证券交易所将决定终止公司股票上市交易。 险警示期间，公司应当至少每五个交易日披露一次公司股票可能被终止上市的风险提示公告。 敬请广大投资者理性投资，注意风险。 告》（公告编号：2025-015），公司收到中国证券监督管理委员会下发的《立案告知书》（证 监立案字 00502025004 号），因涉嫌未按期披露定期报 ...

Core Viewpoint - Company *ST Gao Hong (000851) is under investigation by the China Securities Regulatory Commission (CSRC) for suspected violations of information disclosure laws, which may lead to significant penalties including forced delisting [1] Summary by Relevant Sections - **Investigation and Allegations** - The company received a notice of administrative penalty from the CSRC on August 8, 2025, indicating that its non-public stock issuance in 2020 constituted fraudulent issuance [1] - The annual reports from 2015 to 2023 are found to contain false records, which may trigger major violations under the Shenzhen Stock Exchange listing rules [1] - **Potential Consequences** - The company may face forced delisting due to the serious violations identified, which are in accordance with the Shenzhen Stock Exchange's regulations [1] - Following the risk warning, the company's stock will continue to be labeled as "*ST Gao Hong" with the same security code "000851" [1] - The daily price fluctuation limit for the stock remains at 5% even after the addition of the delisting risk warning [1]

Group 1 - The core issue revolves around ST Dongtong (300379.SZ) and its actual controller Huang Yongjun facing regulatory scrutiny due to suspected violations of information disclosure laws, with the China Securities Regulatory Commission (CSRC) formally initiating an investigation [1] - This marks the second regulatory action against ST Dongtong within a short period, following an earlier investigation in April for suspected false financial data reporting, highlighting significant governance and disclosure system vulnerabilities within the company [1][2] - The company is at risk of delisting, having received a "warning of delisting risk" from the Shenzhen Stock Exchange due to a "disclaimer of opinion" from its auditing firm regarding its 2024 annual report, alongside a reported loss of 576 million yuan in 2024 and an additional loss of 30.54 million yuan in Q1 2025 [2] Group 2 - Huang Yongjun's involvement in the investigation underscores a shift in regulatory focus from penalizing companies to holding key individuals accountable, aligning with the new Securities Law's principle of targeting the "principal offenders" [3] - The company’s reported revenue growth juxtaposed with significant losses and non-standard audit opinions raises suspicions of potential revenue manipulation or cost control issues, which are central to the ongoing investigations [3] - Investors who purchased shares between April 2023 and April 2025 and incurred losses are now eligible to seek legal compensation, indicating a growing avenue for investor rights protection [3]

Core Viewpoint - The company, Lingnan Ecological Culture and Tourism Co., Ltd., is facing significant financial difficulties, including the inability to repay its convertible bonds on time, which may lead to further legal and operational challenges [2][3][4]. Financial Performance - In 2024, the company's operating revenue was 861.84 million yuan, a decline of 59.55% compared to 2023 [3]. - The net profit attributable to shareholders for 2024 was -984.33 million yuan, indicating a reduction in the scale of losses compared to 2023 [3]. - For the first quarter of 2025, the net profit attributable to shareholders was -66.40 million yuan, a decrease of 26.36% compared to the same period in 2024 [3]. Debt and Credit Risks - The credit rating of the "Lingnan Convertible Bond" has been downgraded to C, indicating a high risk of default [2]. - The company is experiencing liquidity pressure due to delayed project payments and high asset-liability ratios, which may further weaken its financing capabilities [2][4]. Legal and Regulatory Issues - As of December 31, 2024, the company had 251 pending lawsuits with a total amount involved of 2.95 billion yuan, which is 13.02% of the latest audited net assets [7]. - The company is facing increased litigation risks due to payment delays to suppliers, which may further complicate its financial situation [6][7]. Asset Pledge and Collateral Risks - The company has pledged assets to secure the "Lingnan Convertible Bond," but the realizable value of these assets is uncertain due to the nature of the receivables and the need for cooperation from various parties [5][6]. - There is a risk that if the company files for bankruptcy within a year of the pledge, the collateral may be revoked [5]. Stock Market Risks - The company's stock is at risk of being delisted if the closing price remains below 1 yuan for 20 consecutive trading days, as per Shenzhen Stock Exchange regulations [6]. Management and Oversight - GF Securities has been appointed as the trustee for the "Lingnan Convertible Bond" and is monitoring the situation closely to protect the interests of bondholders [10].