Core Viewpoint - Shanghai Lingyun Industrial Development Co., Ltd. will have its stock delisted from the Shanghai Stock Exchange due to continuous trading below 1 yuan for 20 consecutive trading days, as per the stock listing rules [1][2]. Section Summaries Termination of Listing - The company received a decision from the Shanghai Stock Exchange on June 27, 2025, to terminate its stock listing due to non-compliance with listing rules [1]. Main Content of Termination Decision - From May 12, 2025, to June 9, 2025, the company's stock closing price was below 1 yuan for 20 consecutive trading days, triggering the termination conditions outlined in the stock listing rules [1][2]. No Delisting Transition Period - The company's stock will not enter a delisting transition period and will be delisted within 5 trading days following the announcement [2]. Delisting and Deregistration Date - The delisting and deregistration date is set for July 4, 2025 [3]. Post-Delisting Arrangements - The company must arrange for its stock to be transferred to the National Equities Exchange and Quotations (NEEQ) system for trading within 45 trading days after delisting [2][3]. Main Underwriter - The main underwriter for the company is Caixin Securities Co., Ltd. [3]. Investor Information - Investors are advised to pay attention to subsequent announcements from the main underwriter regarding share confirmation procedures on the designated information disclosure platform [3][4].

Core Viewpoint - The company *ST Hengli (000622.SZ)* has received a decision from the Shenzhen Stock Exchange to terminate its stock listing, effective June 25, 2025, with the last trading date expected to be July 15, 2025 [1] Summary by Relevant Sections - **Termination of Listing** The Shenzhen Stock Exchange has decided to terminate the listing of *ST Hengli*'s shares, with the formal decision communicated on June 17, 2025 [1] - **Delisting Process** Following the termination, the company's stock will enter a delisting arrangement period starting June 25, 2025, during which it will trade on the risk warning board of the Shenzhen Stock Exchange. The first trading day will have no price fluctuation limits, while subsequent days will have a 10% daily price fluctuation limit [1] - **Post-Delisting Management** After the delisting period ends, the company's shares will be transferred to the National Equities Exchange and Quotations (NEEQ) for management in the delisted segment [1]

Core Viewpoint - *ST Haiyue's stock will be delisted from the Shanghai Stock Exchange due to violations related to undisclosed non-operating fund occupation by its controlling shareholder and false reporting in financial statements [1][2]. Group 1: Delisting Announcement - The Shanghai Stock Exchange decided to terminate *ST Haiyue's stock listing, with the delisting effective from June 16, 2025, and the last trading day expected to be July 4, 2025 [1]. - The delisting period will last for 15 trading days, during which the stock will continue to trade on the risk warning board [1]. Group 2: Regulatory Violations - *ST Haiyue and its controlling shareholder were penalized by the Zhejiang Securities Regulatory Bureau for failing to disclose non-operating fund occupation and for false records in the 2022 semi-annual report [1][2]. - From 2021 to 2022, *ST Haiyue transferred funds to its controlling shareholder through prepayments to suppliers, amounting to 1.77 billion yuan in the first half of 2021, 3.77 billion yuan in 2021, and 6.88 billion yuan in 2022 [1][2]. Group 3: Financial Performance - For the fiscal year 2024, *ST Haiyue expects revenue between 1.5 billion yuan and 1.8 billion yuan, with a net loss attributable to the parent company estimated between 380 million yuan and 220 million yuan [2]. - The company's bulk trade business has declined due to the overall downturn in the traditional energy sector and risks associated with bulk trade operations [2]. - The price of lithium carbonate has decreased compared to the previous year, leading to inventory impairment provisions and asset impairment losses based on cautious principles [2].

Core Viewpoint - Shanghai Lingyun Industrial Development Co., Ltd. is at risk of being delisted due to its stock price and market capitalization falling below regulatory thresholds [1][2][3] Summary by Sections Stock Price and Market Capitalization - As of May 23, 2025, the company's stock closed at 0.095 USD per share, equivalent to 0.6834 RMB per share, which has been below 1 RMB for 10 consecutive trading days [1][3] - The total market capitalization on the same date was 2.38 billion RMB, which has been below 3 billion RMB for 7 consecutive trading days [2][3] Regulatory Framework - According to the Shanghai Stock Exchange Listing Rules, if a company’s stock price remains below 1 RMB for 20 consecutive trading days, it may face delisting [1][2] - The same rules state that if a company's total market capitalization is below 3 billion RMB for 20 consecutive trading days, it may also be subject to delisting [2][3] Disclosure Requirements - The company is required to disclose risk warning announcements when its stock price first falls below 1 RMB and subsequently if it remains below this threshold for 10 consecutive trading days [3][4] - The company has issued multiple risk warning announcements, with the first on May 13, 2025, and the second on May 16, 2025 [4] Other Matters - The company plans to implement a share buyback to enhance shareholder value and investor confidence, adhering to relevant regulations [4][5]

Core Viewpoint - The company HuiLi B has reported a total market capitalization of RMB 290 million as of May 20, 2025, marking the first time it has fallen below RMB 300 million [1] Group 1 - The company's stock may face delisting if it remains below the RMB 300 million threshold for 20 consecutive trading days, as per the Shanghai Stock Exchange Listing Rules [1]

Core Points - Company *ST Zhongcheng (300208)* has submitted a hearing application to the Shenzhen Stock Exchange within the stipulated timeframe [1] - If the company fails to attend the hearing on time, it will be considered as waiving its right to the hearing [1] - Even if the company participates in the hearing, the Shenzhen Stock Exchange may still decide to terminate the company's stock listing [1] - The company received a "Notice of Termination of Listing" from the Shenzhen Stock Exchange on May 7, 2025 [1] - Detailed content regarding the notice was disclosed by the company on the same date [1]

Core Viewpoint - *ST Gongzhi (000584.SZ) announced that the accounting firm Unitai Zhenqing issued an audit report for the company's 2024 financial statements with a disclaimer of opinion, and a negative opinion on the internal control of the financial report, which may lead to the termination of the company's stock listing [1] Summary by Category - Audit Report Findings - The audit report for the 2024 financial statements was issued with a disclaimer of opinion [1] - A negative opinion was provided regarding the company's internal financial control [1] - Listing Status Implications - The findings from the audit report touch upon the relevant provisions of the Stock Listing Rules concerning the potential termination of the company's stock listing [1] - The company's stock is set to be suspended from trading starting April 28, 2025 [1]