Core Points - *ST Haiyue has received a decision from the Shanghai Stock Exchange to terminate its stock listing due to an audit report that could not express an opinion on its 2023 annual financial statements [2] - The company is also under investigation by the China Securities Regulatory Commission (CSRC) for suspected violations of information disclosure regulations [2][3] - The company has faced previous regulatory penalties for failing to disclose related party transactions and false records in its financial reports [3] Financial Performance - In 2023, *ST Haiyue reported a revenue of 2.128 billion yuan, a year-on-year decrease of 67.70%, and a net profit attributable to shareholders of -245 million yuan, a decline of 538.01% [4] - For 2024, the company achieved a revenue of 1.483 billion yuan, down 30.32% year-on-year, with a net profit of -300 million yuan, a decrease of 22.14% [4][5] - The decline in revenue is attributed to a decrease in trade business scale, asset impairment provisions, and increased financial expenses [5] Regulatory Issues - The company has been involved in non-operating fund occupation by its controlling shareholder, with significant amounts transferred out from 2021 to 2022 [3][4] - As of April 30, 2023, all involved funds had been returned, but the company failed to disclose this information in a timely manner [3] - The audit report for the 2024 annual financial statements also received a disclaimer of opinion, raising concerns about the accuracy and completeness of the financial data [4]