上海明伦律师事务所王智斌律师告诉《证券日报》记者，在资本市场，"小道消息"传播迅速、范围广 泛，具有较强的迷惑性，这些信息会干扰正常的交易，误导投资者，对于这些不确定的信息，投资者要 结合公司的基本面、行业趋势等信息综合分析判断，以免盲目跟风陷入风险。 需要注意的是，12月9日，*ST岩石还发布公告表示，董事会于2025年12月8日召开了第十届董事会第二 十二次会议，审议并通过了《关于选举公司副董事长的议案》，同意选举朱诺为公司副董事长。因公司 董事长韩啸被公安机关采取刑事强制措施，无法履行董事长及董事会秘书职责，根据《公司法》及《公 司章程》等规定，公司副董事长朱诺将代行公司董事长及董事会秘书职责。 此外，*ST岩石还存在较高的财务类退市风险。公司已于2025年4月23日起被实施退市风险警示。根据 前期披露的定期报告，公司业务开展明显不及预期，2025年前三季度累计实现营业收入仅3476.21万 元，实现归属于上市公司股东的净利润-11188.70万元。根据《上海证券交易所股票上市规则》，如公 司2025年度经审计的利润总额、净利润或者扣除非经常性损益后的净利润孰低者为负值且营业收入低于 3亿元，或公司20 ...

需要注意的是，12月9日，*ST岩石还发布公告表示，董事会于2025年12月8日召开了第十届董事会第二 十二次会议，审议并通过了《关于选举公司副董事长的议案》，同意选举朱诺为公司副董事长。因公司 董事长韩啸被公安机关采取刑事强制措施，无法履行董事长及董事会秘书职责，根据《公司法》及《公 司章程》等规定，公司副董事长朱诺将代行公司董事长及董事会秘书职责。 此外，*ST岩石还存在较高的财务类退市风险。公司已于2025年4月23日起被实施退市风险警示。根据 前期披露的定期报告，公司业务开展明显不及预期，2025年前三季度累计实现营业收入仅3476.21万 元，实现归属于上市公司股东的净利润-11188.70万元。根据《上海证券交易所股票上市规则》，如公 司2025年度经审计的利润总额、净利润或者扣除非经常性损益后的净利润孰低者为负值且营业收入低于 3亿元，或公司2025年度财务报告或内部控制报告被年审会计师出具非标意见，公司股票将触及财务类 退市情形，股票将被终止上市。 福州公孙策公关咨询有限公司合伙人詹军豪接受《证券日报》记者采访时表示，对于因"小道消息"导致 股价异动的上市公司，中小投资者要关注可能存在的信息不 ...

公开资料显示，*ST岩石的前身早在1993年便已上市，历经多次主业变更和更名，从"福建豪盛"、"利嘉股份"到曾轰动市场 的"匹凸匹"，被称为A股"更名王"。2018年后公司切入白酒赛道，公司名称变更为"上海贵酒"，但此举直接引发了与洋河股份旗 下老牌酒企"贵州贵酒"的商标纠纷。 值得注意的是，2025年10月，江苏省高级人民法院对*ST岩石与"贵州贵酒"的商标纠纷作出终审判决，要求*ST岩石（公司全称 为"上海贵酒股份有限公司"）立即停止使用贵州贵酒有一定影响的企业名称"贵酒"，并赔偿对方经济损失及合理费用共计 418.847万元。 | | | | 买1 4.56 | 262 | | --- | --- | --- | --- | --- | | 4.18 | | -5.00% | 22 4.55 | 223 | | 09:30 | 11:30 | 15:00 买3 4.54 | | 451 | | 分时量 ▼ | 量: 161 现手: 10 | 14898 | | | | | | 买 4 4.53 | | 178 | | | | 7449 买5 4.52 | | 71 | | | | 明细 ▲ | | | ...

每经记者｜刘明涛 每经编辑｜肖芮冬 从前两周的持续大跌，到本周的快速反弹，近一个月以来，*ST岩石（600696）股价振幅接近50%，出 现明显异动。如此反常走势也引起了*ST岩石的重视。12月9日午间，*ST岩石发布《上海贵酒股份有限 公司关于相关事项的澄清公告》，撇清市场种种传闻。 *ST岩石称，公司近日股价波动较大。近期股吧流传关于公司将进行股权转让等不实言论，引发市场关 注。公司作出以下澄清并郑重声明：经公司核实，截至本公告披露日，公司及控股股东不存在应披露而 未披露的重大信息，包括但不限于股权转让、重大资产重组、上市公司收购、业务重组、破产重整等重 大事项。 与此同时，*ST岩石还表示，公司存在较高的财务类退市风险。根据《上海证券交易所股票上市规 则》，如公司2025年度经审计的利润总额、净利润或者扣除非经常性损益后的净利润孰低者为负值且营 业收入低于3亿元，或公司2025年度财务报告或内部控制报告被年审会计师出具非标意见，公司股票将 触及财务类退市情形，股票将被终止上市。 《每日经济新闻·将进酒》记者注意到，当前距离2025年年报披露仅剩数月时间，*ST岩石能否及时化解 债务纠纷、推动重组取得实质 ...

智通财经APP讯，*ST岩石(600696.SH)发布公告，公司近日股价波动较大。近期股吧流传关于公司将进 行股权转让等不实言论，引发市场关注。公司作出以下澄清并郑重声明： 2、公司存在较高的财务类退市风险。公司已于2025年4月23日起被实施退市风险警示。根据前期披露的 定期报告，公司业务开展明显不及预期，2025年前三季度累计实现营业收入仅3,476.21万元，实现归属 于上市公司股东的净利润-11,188.70万元。根据《上海证券交易所股票上市规则》，如公司2025年度经 审计的利润总额、净利润或者扣除非经常性损益后的净利润孰低者为负值且营业收入低于3亿元，或公 司2025年度财务报告或内部控制报告被年审会计师出具非标意见，公司股票将触及财务类退市情形，股 票将被终止上市。 1、公司不存在控股股东进行股权转让等重大事项。经公司核实，截至本公告披露日，公司及控股股东 不存在应披露而未披露的重大信息，包括但不限于股权转让、重大资产重组、上市公司收购、业务重 组、破产重整等重大事项。公司控股股东上海贵酒企业发展有限公司及其一致行动人合计持有公司 216,740,245股已全部被司法冻结，占公司总股本的64.8 ...

Group 1 - The stock price of *ST Suwu (600200) increased by 9.28% this week, closing at 1.06 yuan on October 24, 2025, with a total market capitalization of 754 million yuan [1] - The company is currently ranked 150 out of 150 in the chemical pharmaceutical sector and 5158 out of 5160 in the A-share market [1] Group 2 - The company is under investigation by the China Securities Regulatory Commission (CSRC) for suspected violations of information disclosure, leading to a formal investigation initiated on February 26, 2025 [2] - On July 13, 2025, the company received an administrative penalty notice, indicating that it engaged in trade activities with subsidiaries and related companies that lacked commercial substance, resulting in inflated revenue and profit figures from 2020 to 2023 [2] - The company’s 2024 annual financial report received a disclaimer of opinion, triggering financial delisting risk [3] - As of the end of 2023, the controlling shareholder's related party had non-operating fund occupation amounting to 1.6926071 billion yuan, which remains unresolved [3] - The net profit for the first half of 2025 was -44.4178 million yuan, a year-on-year decline of 281.63% [3] - The arbitration results regarding exclusive agency rights for medical beauty products are uncertain, contributing to multiple delisting risks for the company [2][3]

Core Viewpoint - The company, Yuancheng Environment Co., Ltd., is facing significant financial challenges, including a substantial decline in revenue and increased risks of delisting due to continuous losses and liquidity issues [2][12][4]. Financial Performance - The audited revenue for 2024 was approximately 145.84 million yuan, representing a year-on-year decrease of 46.79% [5][12]. - The net profit for the year showed losses of approximately 325 million yuan, with a similar loss of 323 million yuan after excluding non-core business revenues [2][12]. - The company reported a gross margin decline in its main business segments, with engineering construction and landscaping maintenance showing gross margins of -27.94% and -14.27%, respectively [5][11]. Risks - The company is under delisting risk due to failing to meet the Shanghai Stock Exchange's financial criteria, as indicated by the negative revenue figures [12]. - There are significant accounts receivable risks, particularly with Zhejiang Yuelongshan Tourism Development Co., Ltd., which has a receivable balance of approximately 684.43 million yuan, raising concerns about recoverability [3][14]. - Liquidity risks are evident, with cash reserves of only 9.74 million yuan and current liabilities of approximately 1.35 billion yuan, leading to challenges in meeting short-term obligations [4][12]. Operational Insights - The company has acknowledged the impact of industry cyclicality on its operations, which has contributed to the revenue decline and increased impairment losses [5][11]. - The fourth quarter of 2024 saw a revenue of approximately 101 million yuan, accounting for nearly 70% of the annual revenue, which deviates from previous trends [5][10]. - The company has taken measures to accelerate the collection of receivables to improve liquidity [4]. Client and Supplier Relationships - The top five clients contributed approximately 66.48 million yuan, accounting for 45.59% of total sales, with related party transactions making up 11.98% of this amount [5][7]. - The company has detailed its revenue recognition methods, which vary by business segment, ensuring compliance with accounting standards [8][9]. Industry Context - The overall industry is experiencing a decline in gross margins, with the company's gross margin dropping by 18.31 percentage points compared to the previous year, aligning with broader market trends [11][12]. - The slowdown in government and developer funding for infrastructure projects has adversely affected the company's revenue and profitability [11][13].

Core Viewpoint - The financial report of Yuan Cheng Environment Co., Ltd. for 2024 shows significant declines in revenue and net profit, primarily due to industry cyclicality and increased impairment losses, raising concerns about the company's financial health and potential delisting risks [1][6][7]. Financial Performance - The company reported a revenue of 146 million yuan for 2024, a year-on-year decrease of 46.79% [1][6]. - The net profit attributable to shareholders was a loss of 325 million yuan, with a similar loss of 323 million yuan after excluding non-recurring items, indicating a worsening financial situation [1][6]. - The gross profit margins for major business segments, such as engineering construction and green maintenance, were -27.94% and -14.27%, respectively, reflecting a significant decline compared to previous years [1][5]. Revenue Breakdown - The revenue composition for 2024 was as follows: engineering construction and maintenance (53.32%), electronic devices and components (38.65%), with other segments contributing minimally [5]. - The fourth quarter revenue was reported at 101 million yuan, accounting for nearly 70% of the annual revenue, which deviates from historical trends [1][3]. Client and Supplier Information - The top five clients contributed 66.48 million yuan, representing 45.59% of total sales, with related party transactions accounting for 11.98% [1]. - The company plans to disclose detailed information about its top ten clients and suppliers, including transaction amounts and payment conditions, to address regulatory inquiries [1][3]. Impairment and Receivables - The company reported accounts receivable of 236 million yuan, with a provision for bad debts of 54.65 million yuan related to a subsidiary [8][9]. - The audit raised concerns about the recoverability of receivables and the adequacy of impairment provisions, leading to a qualified opinion from the auditors [8][9]. Industry Context - The overall industry is experiencing a downturn, with tightening funding from government and developers, leading to reduced investment in municipal construction and infrastructure projects [5][7]. - The company's gross margin decline aligns with the broader industry trend, where many companies are facing similar challenges [5][6].

证券代码：600462 证券简称：*ST 九有 公告编号：临 2025-016 湖北九有投资股份有限公司 关于公司股票可能被终止上市的第三次风险提示公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 重要内容提示： ●重大违法退市风险。公司于 2024 年 12 月 19 日收到中国证券监督管理委员 会（以下简称"中国证监会"）《立案告知书》（证监立案字 0392024075 号）， 因公司涉嫌信息披露违法违规，根据《中华人民共和国证券法》《中华人民共和国 行政处罚法》等法律法规，中国证监会决定对公司立案。如后续经中国证监会行政 处罚认定的事实，触及《上海证券交易所股票上市规则》规定的重大违法强制退市 情形，公司股票将被实施重大违法强制退市。即使公司 2024 年实现净资产转正， 公司仍面临重大违法强制退市风险。请投资者务必注意投资风险，谨慎投资。 ●财务类退市风险。公司股票已于 2024 年 5 月 6 日起实施退市风险警示及继 续实施其他风险警示，根据公司 2024 年年度业绩预告，公司预计 2024 年年末归属 ...