Group 1 - The core viewpoint of the articles highlights the alarming trend of state-owned enterprises (SOEs) facing delisting due to financial fraud, as exemplified by the case of Jinzhou Port (ST Jin Port) following the delisting of its affiliate, Dongfang Group [1][2] - Jinzhou Port announced on May 20 that it may face mandatory delisting due to four consecutive years of false financial reporting from 2020 to 2023, which has shattered the market's belief in the invulnerability of SOEs [1] - The stock price of Jinzhou Port fell to 1.04 yuan as of May 21, nearing the delisting threshold of 1 yuan, indicating a mass exit of institutional funds from the stock [1] Group 2 - The article emphasizes that the "halo" of SOEs is fading, with a zero-tolerance policy for financial fraud under the new registration system, regardless of the nature of the enterprise [2] - Data shows that seven state-owned listed companies have been delisted in 2023 alone, surpassing the total number from the previous three years [2] - The case of Jinzhou Port serves as a stark reminder that in the context of deepening reforms in the capital market, no enterprise can afford to be complacent, urging investors to reconsider their faith in SOEs [2]