Group 1 - The A-share market is facing increased delisting risks due to financial fraud and information disclosure violations, with *ST Zitian, *ST Suwu, *ST Tianmao, and *ST Gaohong being the focal points [1][4] - As of now, 23 companies have been delisted in the A-share market this year, with reasons including financial delisting, trading delisting, major illegal forced delisting, and voluntary delisting [3] - *ST Gaohong has been subjected to a forced delisting procedure due to serious financial fraud and has been fined 135 million yuan by the CSRC, with its stock price down 26.82% this year [4][5] Group 2 - *ST Zitian received a notice from the Shenzhen Stock Exchange regarding the termination of its stock listing due to false financial reporting, with a stock price decline of 87.01% this year [4] - *ST Suwu is under investigation for information disclosure violations, with a stock price drop of 87.88% this year, nearing the delisting threshold [5] - *ST Tianmao has opted for voluntary delisting and plans to provide a cash option for investors at 1.60 yuan per share, with a stock price decline of 68.95% this year [6] Group 3 - The trend of voluntary delisting is emerging, with five companies, including *ST Tianmao, choosing this route, often providing cash options to protect investor interests [6]

Group 1 - Several A-share listed companies are facing delisting risks due to suspected financial fraud or information disclosure violations, with *ST Zitian, *ST Suwu, *ST Tianmao, and *ST Gaohong being the focus of investor attention [1] - *ST Gaohong has been subjected to mandatory delisting procedures by the Shenzhen Stock Exchange due to serious financial fraud and has incurred an administrative fine of 160 million yuan [1] - *ST Tianmao announced its intention to voluntarily withdraw its A-shares from trading on the Shenzhen Stock Exchange through a shareholders' meeting resolution [1] Group 2 - A total of 23 companies have been delisted from the A-share market this year, primarily due to financial-related delisting, trading-related delisting, major illegal mandatory delisting, and voluntary delisting [2] - Companies such as Zhonghang Chanyin and Yulong Co. are categorized as voluntary delisting, while companies like Tuishe Zhuolang and Tuishe Jinguang are classified under major illegal mandatory delisting [2] - Several companies, including *ST Furun, *ST Dongfang, *ST Xulan, *ST Jiayu, and *ST Jiyuan, have been delisted due to stock prices falling below par value [2]