Core Viewpoint - *ST Baoying (stock code: 002047) has issued a significant risk warning, indicating the possibility of being delisted due to financial difficulties [1][3]. Financial Performance - The company estimates a net profit attributable to shareholders for the year 2025 to be between 49 million and 63 million yuan, but the net profit after deducting non-recurring gains and losses is expected to be a loss ranging from -43 million to -29 million yuan [3]. - Projected operating revenue for 2025 is estimated to be between 720 million and 890 million yuan, while the equity attributable to shareholders is expected to be only between 41 million and 55 million yuan by the end of 2025 [3]. Risk of Delisting - The company's stock has been under "delisting risk warning" and "other risk warning" since April 28, 2025. If the audited net assets at the end of 2025 are negative, it will trigger mandatory delisting conditions as per the Shenzhen Stock Exchange's regulations [3]. Company Background - *ST Baoying, officially known as Shenzhen Baoying Construction Holding Group Co., Ltd., was established on April 30, 1993, and was listed on the Shenzhen Stock Exchange on May 31, 2005. The company is headquartered in Futian District, Shenzhen, Guangdong Province [3]. - The main business focuses on the design and construction of comprehensive building decoration and renovation projects, with decoration and renovation revenue accounting for 61.06%, construction engineering for 29.92%, and other businesses for 9.02% [3]. Leadership Changes - In August 2025, the former chairman, Lv Haitao, resigned due to personal reasons, and Li Peng succeeded him as chairman. Li Peng, born in 1980, holds a bachelor's degree in civil engineering from Northeast University and is a senior engineer in construction management [4]. Market Outlook - Given the critical situation of net assets nearing the warning line, the market will closely monitor whether *ST Baoying can reverse its fortunes before the annual report audit to avoid delisting [5].

*ST金比公告称，2024年公司利润总额7076.93万元、净利润4968.67万元、扣非后净利润 -4531.68万元， 扣除后营收低于3亿元，股票于2025年4月24日起被实施"退市风险警示"。若2025年出现《深圳证券交易 所股票上市规则》第9.3.12条规定的情形，公司股票将可能被终止上市。本次为首次风险提示公告，披 露后至《2025年年度报告》披露前，每十个交易日披露一次。 ...

【导读】*ST赛隆开盘再次跌停，年报审计机构以任务繁重为由辞任 1月30日，*ST赛隆（002898）开盘即封死跌停板。截至发稿，*ST赛隆股价报11.37元/股，跌幅达5.01%，总市值为20.01亿元。 1月29日晚间，*ST赛隆发布公告称，北京国府嘉盈会计师事务所（特殊普通合伙）（以下简称国府嘉盈）辞任公司2025年度财报审计机 构。 按照相关要求，A股公司披露2025年年报的截止时间是2026年4月30日。 《深圳证券交易所股票上市规则（2025年修订）》显示，上市公司应当合理安排新聘或续聘会计师事务所的时间，不得因未能及时聘请会 计师事务所影响定期报告的按期披露。 审计机构任职不足半个月辞任 辞任理由与前任审计机构相同 公告显示，1月27日，*ST赛隆收到国府嘉盈发来的《辞任函》。《辞任函》显示，自即日起，国府嘉盈辞任*ST赛隆2025年度财报审计机 构。 公告显示，国府嘉盈成立于2006年3月16日，2024年度末的合伙人、注册会计师数量分别为34人、162人，2024年上市公司审计客户达7家。 此前，*ST赛隆决定聘任国府嘉盈担任其2025年度财报审计机构，原因是*ST赛隆的前任审计机构辞任。 ...

Core Viewpoint - ST YuanZhi (002689) experienced a decline of 5.06% in stock price, closing at 3.94 yuan on January 29, 2026, with a trading volume of 425,618 shares and a transaction amount of 170 million yuan [1][2]. Trading Information Summary - On January 29, ST YuanZhi closed at 3.94 yuan, down 5.06%, with a total transaction amount of 42.56 million yuan. Over the past 10 trading days, the main funds had a cumulative net inflow of 25.64 million yuan, and the stock price increased by 16.81%. The financing balance decreased by 5.89 million yuan, while the short-selling balance remained unchanged [2][5]. Fund Flow - On January 29, the main funds had a net outflow of 24.95 million yuan, while speculative funds saw a net outflow of 1.92 million yuan. In contrast, retail investors contributed a net inflow of 26.88 million yuan [3]. Company Response to Investor Inquiry - In response to an investor's question regarding potential delisting risks due to financial issues from 2019 to 2022, the company stated that it has not triggered any mandatory delisting conditions as per the Shenzhen Stock Exchange regulations. The company confirmed that its production, management, and business activities are operating normally [4].

Core Viewpoint - The company Guozhong Water (600187.SH) has announced a projected loss for the fiscal year 2025, indicating significant financial challenges ahead [1] Financial Performance - The company expects a total profit loss ranging from -110 million to -88 million yuan for 2025 [1] - The projected net profit attributable to the parent company is expected to be between -130 million and -104 million yuan, indicating a loss compared to the previous year [1] - The net profit after deducting non-recurring gains and losses is estimated to be between 9 million and 10.8 million yuan [1] - The anticipated operating revenue for 2025 is projected to be between 210 million and 252 million yuan, with the revenue from core business activities expected to be between 190 million and 228 million yuan, which is below 300 million yuan [1] Regulatory Implications - According to the Shanghai Stock Exchange Listing Rules, if the company's audited profit total, net profit, or net profit after deducting non-recurring gains and losses is negative and the operating revenue is below 300 million yuan, the company may face delisting risk warnings [1]

Core Viewpoint - *ST Aowei is facing a severe financial crisis, with a projected net loss for 2025 and a notice from the Shenzhen Stock Exchange regarding the potential termination of its stock listing due to failure to meet trading indicators [1][6]. Financial Performance - The company expects a net profit for 2025 to be between -266 million yuan and -133 million yuan, representing a year-on-year decline of 188.41% to 476.82% [3][9]. - The non-recurring net profit is projected to be between -230 million yuan and -115 million yuan, with a year-on-year decrease of 97.03% to 294.05% [3][10]. - Total profit is anticipated to be between -340 million yuan and -170 million yuan, showing a significant decline [3][10]. Reasons for Financial Decline - The decline in revenue is attributed to the suspension of operations at its subsidiary, Donghexin New Materials Industry Co., Ltd., and a reduction in the scale of its communication equipment manufacturing business [10]. - Issues related to the second-largest shareholder and associated parties' fund occupation have not been resolved, leading to significant credit impairment losses [10]. - Illegal disposal of inventory by Jiangsu Dajiang Metal Materials Co., Ltd. has resulted in asset losses for the company [10]. Company History and Challenges - Since its listing in 2008, *ST Aowei has faced operational difficulties due to internal control failures, unsuccessful business transformations, and setbacks in core operations [10]. - In 2024, the company attempted to pivot by engaging in trade business but failed to meet revenue targets, achieving only 2.91 million yuan against a goal of 300 million yuan [11]. Market Performance - The stock price has been in a continuous decline, falling below 3 yuan since October 2025, with multiple instances of trading halts [11]. - As of January 29, 2026, the stock price was reported at 0.6 yuan per share, with a total market value of only 208 million yuan, significantly below the regulatory threshold of 500 million yuan [11]. Regulatory Actions - On January 29, 2026, *ST Aowei received a notice from the Shenzhen Stock Exchange regarding the potential termination of its stock listing due to unmet trading indicators [6][13]. - The company has the right to request a hearing or submit written statements within five trading days of receiving the notice [13].

Core Viewpoint - *ST Xingguang announced that it expects revenue of 360 million to 410 million yuan in 2025, a significant increase from last year's 192 million yuan; however, it anticipates a net loss of 3 to 6 million yuan, narrowing the loss margin by 80.63% to 90.31% compared to last year's loss of 30.9756 million yuan [1] Group 1 - The company is focusing on the strategy of "strengthening the main business and technological innovation" to deepen its core operations, expand the market, and reduce costs to enhance efficiency and promote business growth [1] - The performance forecast data is unaudited, and the company is under delisting risk warning due to failing to meet performance standards in 2024; if the 2025 annual report triggers relevant conditions, the stock will be terminated from listing [1]

Core Viewpoint - The company *ST Jinglun announced that its stock experienced an abnormal fluctuation with a cumulative decline of over 12% during three consecutive trading days from January 27 to 29, 2026, indicating potential financial distress [1] Financial Performance - The company expects a negative net profit for the fiscal year 2025, with revenue projected to be below 300 million yuan after excluding related income [1] - The annual report disclosure will lead to the termination of the company's stock listing [1] Shareholder Information - The controlling shareholder, Zhang Xueyang, holds 60 million shares, accounting for 12.19% of the total shares [1]

Core Viewpoint - The company *ST Chuntian (Qinghai Chuntian) has disclosed a performance forecast indicating a significant expected loss for 2025, raising concerns about its financial stability and potential delisting risk [2][3]. Financial Indicators - For 2025, *ST Chuntian anticipates a net profit loss ranging from 44 million to 59.5 million yuan, with projected revenue between 342.7 million and 371.4 million yuan, and a revenue after deductions expected to be between 338.3 million and 367 million yuan [2]. - The company must either achieve profitability or ensure that its revenue after deductions remains above 300 million yuan to avoid delisting [3]. Audit Opinions - The auditing firm Zhengdan Zhiyuan has not yet provided a definitive opinion on the company's performance forecast, indicating uncertainty regarding the revenue figures presented [3]. - Without a clean audit opinion, *ST Chuntian remains at risk of being delisted, as the audit firm highlighted potential issues with the recoverability of a loan converted from an investment [4]. Related Company Information - *ST Chuntian is involved with Yibin Tinghua Wine Trade Co., which is a subsidiary of Yibin Tinghua Wine Industry Development Co., and is responsible for selling Tinghua wine produced by the latter [5]. - As of September 30, 2025, *ST Chuntian had a prepaid balance of approximately 140.18 million yuan and an investment prepayment of 100 million yuan to Yibin Tinghua, with risks of impairment due to potential non-recovery of these amounts [5].

Core Viewpoint - *ST Guandian is facing potential delisting risks due to negative financial performance, including projected losses for 2025 and insufficient operating revenue [2][3]. Financial Performance - The company expects a total profit of approximately -189 million yuan for 2025, with a net profit attributable to the parent company of around -185 million yuan [3]. - The operating revenue, after excluding unrelated business income, is projected to be about 123 million yuan, which is below the 100 million yuan threshold that could trigger financial delisting standards [3]. - Historical revenue figures show a decline from 291 million yuan in 2022 to 89.98 million yuan in 2024, with year-on-year changes of 26.61%, -27.12%, and -57.58% respectively [5]. - The net profit attributable to the parent company has also seen a significant drop, from 82.33 million yuan in 2022 to -136 million yuan in 2024, with year-on-year changes of 13.89%, -74.31%, and -744.26% respectively [5]. Corporate Governance - The company is currently led by Chairman Gao Yingxuan and Secretary Li Xuming, with a total of 195 employees [4]. - The actual controller of the company is Gao Ming [4]. Legal Issues - *ST Guandian is facing claims from investors due to disclosure issues, with affected investors eligible for compensation if they held shares during the specified period [3]. - The company has been flagged for potential violations of securities laws, which could lead to further legal repercussions [3]. Risk Indicators - The company has 45 internal risk indicators, with 29 warning alerts currently active [6].