Core Viewpoint - *ST Yuancheng has received a decision from the Shanghai Stock Exchange to terminate its stock listing due to continuous low market capitalization and financial losses, with the delisting date set for December 5, 2025 [1][3]. Group 1: Delisting Decision - The Shanghai Stock Exchange decided to terminate the listing of *ST Yuancheng's stock, effective December 5, 2025 [1]. - From October 14 to November 10, 2025, *ST Yuancheng's market capitalization was below 500 million yuan for 20 consecutive trading days [3]. - Following the delisting, the company's stock will be transferred to the National Equities Exchange and Quotations system for trading [3]. Group 2: Financial Performance - In the first three quarters of the year, *ST Yuancheng reported revenue of 102 million yuan and a net loss of 143 million yuan [7]. - The company's revenue has been declining, with figures of 294 million yuan, 274 million yuan, and 146 million yuan from 2022 to 2024, respectively, while net losses increased from 65.48 million yuan to 325 million yuan during the same period [7]. - The company has faced continuous operational challenges, leading to a warning about its ability to continue as a going concern in the 2024 audit report [7]. Group 3: Regulatory Issues - On October 10, 2025, *ST Yuancheng received a notice from the China Securities Regulatory Commission regarding administrative penalties for false reporting in annual reports from 2020 to 2022 [8]. - The company was found to have inflated project costs and revenues, which could lead to a forced delisting due to significant violations of stock listing rules [8]. - Proposed penalties include a fine of 37.45 million yuan for the company and a total of 42 million yuan for five responsible individuals, including the controlling shareholder [8].

Group 1 - The core viewpoint of the news highlights the trading performance and financial metrics of Lei'ao Planning, indicating a significant increase in financing activities and a notable change in shareholder structure [1][2]. Group 2 - On November 21, Lei'ao Planning's stock price increased by 3.02%, with a trading volume of 89.56 million yuan. The financing buy-in amount for the day was 18.60 million yuan, while the net financing buy-in reached 11.97 million yuan [1]. - As of November 21, the total balance of margin trading for Lei'ao Planning was 184 million yuan, accounting for 5.02% of its circulating market value, which is above the 90th percentile level over the past year [1]. - The company reported a decrease in operating revenue for the first nine months of 2025, totaling 22.20 million yuan, a year-on-year decline of 5.26%. However, the net profit attributable to the parent company was 11.28 million yuan, reflecting a significant year-on-year growth of 141.98% [2]. - Lei'ao Planning has distributed a total of 26.17 million yuan in dividends since its A-share listing, with 13.57 million yuan distributed over the past three years [3].

Core Viewpoint - *ST Yuancheng is facing multiple delisting risks due to its market capitalization falling below 500 million yuan and stock price dropping below 1 yuan, which could lead to forced delisting from the stock exchange [1][2][3] Financial Performance - In the first three quarters of the year, the company reported revenue of 102 million yuan and a net loss attributable to shareholders of 143 million yuan [7] - For the third quarter alone, revenue was 20.14 million yuan, a year-on-year decrease of 54.70%, with a net loss of 16.34 million yuan [7] - Revenue figures for the years 2022 to 2024 were 294 million yuan, 274 million yuan, and 146 million yuan respectively, with net losses of 65.48 million yuan, 162 million yuan, and 325 million yuan [7] Delisting Risks - As of November 7, the company's total market capitalization was 199 million yuan, having been below 500 million yuan for 19 consecutive trading days, which will trigger forced delisting after 20 days [2][3] - The stock price closed at 0.61 yuan on November 7, having been below 1 yuan for 10 consecutive trading days, which also contributes to the delisting risk [3] - The company has received multiple warnings regarding delisting, including a notice from the China Securities Regulatory Commission about significant violations leading to potential forced delisting [9][10] Regulatory Issues - The company has been found to have false records in its annual reports from 2020 to 2022, which included inflated project costs and revenues [9][10] - The company is facing penalties totaling 37.45 million yuan and potential market bans for key personnel due to these violations [10] Operational Challenges - The company has been experiencing a continuous decline in business performance and has been in a state of loss for several years [8] - There are concerns regarding the company's ability to continue as a going concern, with issues such as overdue fundraising and liquidity risks [10]

Core Viewpoint - *ST Yuancheng (603388) has issued multiple risk warnings regarding potential delisting due to its market capitalization falling below the required thresholds and ongoing financial losses [1][2][4][9]. Financial Performance - As of November 7, the company's total market capitalization was 199 million yuan, having been below 500 million yuan for 19 consecutive trading days [2][4]. - The stock price closed at 0.61 yuan on November 7, remaining below 1 yuan for 10 consecutive trading days [4]. - For the first three quarters of the year, the company reported revenue of 102 million yuan and a net loss of 143 million yuan [7]. - Revenue figures for the years 2022 to 2024 were 294 million yuan, 274 million yuan, and 146 million yuan respectively, with net losses of 65.48 million yuan, 162 million yuan, and 325 million yuan [7][9]. Delisting Risks - The company is at risk of being delisted due to trading-related issues, as it will trigger mandatory delisting after 20 consecutive trading days with a market capitalization below 500 million yuan [2][7]. - Additionally, the company faces risks of major illegal delisting and financial delisting due to identified violations in its financial reports from 2020 to 2022 [9][10]. - The company received a notice from the China Securities Regulatory Commission regarding administrative penalties for false reporting and other violations, which could lead to major illegal delisting [9]. Operational Challenges - The company has been experiencing a continuous decline in business performance and has been in a state of loss for several years [7][8]. - There are concerns regarding the company's ability to continue as a going concern, with uncertainties highlighted in the 2024 audit report [8][11]. - The company is also facing liquidity issues, including overdue fundraising, stock pledges, freezes, and judicial auctions [11].

Group 1 - The company, Lingnan Ecological Culture Tourism Co., Ltd. (ST Lingnan), has been indicted for collusion in bidding and is scheduled for a court hearing on October 31, 2025 [1][4] - As of now, the incident has not significantly impacted the company's operations, but the potential effects on its financial performance remain to be determined pending the court's judgment [4] - The company has faced financial difficulties, reporting net losses of 1.554 billion yuan in 2022, 1.092 billion yuan in 2023, and 984 million yuan in 2024 [4] Group 2 - In the first three quarters of 2025, the company achieved revenue of 253 million yuan, a year-on-year decrease of 68.75%, while the net profit attributable to shareholders was -206 million yuan, an increase of 23.34% year-on-year [4] - The company has been listed as a dishonest executor due to construction contract disputes, which has affected its ability to secure new orders and collect payments [4] - As of November 4, the company's stock price closed at 1.93 yuan per share, down 3.02%, with a total market capitalization of 3.513 billion yuan, reflecting a year-to-date decline of 40.25% [5]

Core Viewpoint - ST Lingnan has been indicted for collusion in bidding, with a court date set for October 31, 2025, which was announced four days after the lawsuit was filed [2][8]. Financial Performance - As of November 4, 2023, ST Lingnan's stock price was 1.93 CNY per share, with a total market capitalization of 3.513 billion CNY [5]. - The company's revenue for 2022, 2023, and 2024 was 2.569 billion CNY, 2.131 billion CNY, and 862 million CNY respectively, showing a significant decline [12]. - The net profit attributable to shareholders for the same years was -1.554 billion CNY, -1.092 billion CNY, and -984 million CNY, indicating ongoing financial losses [12]. - In the first three quarters of 2025, ST Lingnan's revenue decreased by 68.75% to 253 million CNY, while the net profit attributable to shareholders improved by 23.34% to -206 million CNY [15]. Business Operations - ST Lingnan, founded in 1998 and listed in 2014, focuses on planning and design, water resources, municipal and landscaping services, and cultural technology and tourism [12]. - The company provides a one-stop service from investment, planning, construction to operation through its five subsidiaries [12]. - The significant drop in revenue in 2024 was attributed to cyclical industry adjustments and a restructuring of market supply and demand [15].

Core Viewpoint - *ST Yuancheng is at risk of being delisted due to its market capitalization falling below 500 million yuan and continuous losses over the past years [1][2][3] Financial Performance - In the first three quarters of the year, the company achieved revenue of 102 million yuan and a net loss attributable to shareholders of 143 million yuan [2] - For Q3 alone, revenue was 20.14 million yuan, a year-on-year decrease of 54.70%, with a net loss of 16.34 million yuan [2] - Revenue figures for 2022 to 2024 are projected at 294 million yuan, 274 million yuan, and 146 million yuan respectively, with net losses of 65.48 million yuan, 162 million yuan, and 325 million yuan [2] Market Capitalization and Listing Risk - As of October 31, the company's market capitalization was 254 million yuan, having been below 500 million yuan for 14 consecutive trading days [1] - The stock price closed at 0.78 yuan, remaining below 1 yuan for five consecutive trading days, which could lead to mandatory delisting if the situation persists [1] Legal and Compliance Issues - The company faces the possibility of mandatory delisting due to significant legal violations, as indicated by a notice from the China Securities Regulatory Commission [3] - The company was found to have falsified financial records over three years, leading to a proposed fine of 37.45 million yuan and penalties for responsible individuals totaling 42 million yuan [3] - The controlling shareholder, Zhu Changren, faces a 10-year ban from the securities market due to these violations [3]

Core Viewpoint - Lei'ao Planning is a leading planning and design enterprise in China, established in 2008 and listed in 2021, with a comprehensive service capability covering planning and engineering design [1] Group 1: Business Performance - In Q3 2025, Lei'ao Planning reported revenue of 222 million yuan, ranking 36th among 46 companies in the industry, while the industry leader, Taiji Industry, had revenue of 22.593 billion yuan [2] - The net profit for the same period was 9.42 million yuan, placing the company 30th in the industry, with the top performer, China Communications Design, achieving a net profit of 768 million yuan [2] Group 2: Financial Ratios - As of Q3 2025, Lei'ao Planning's debt-to-asset ratio was 19.63%, an increase from 17.49% year-on-year, significantly lower than the industry average of 42.53%, indicating strong solvency [3] - The gross profit margin for Q3 2025 was 45.08%, up from 44.17% year-on-year, which is higher than the industry average of 27.95%, reflecting robust profitability [3] Group 3: Executive Compensation - The chairman, Wang Fuhai, received a salary of 543,600 yuan in 2024, a decrease of 319,800 yuan from 2023 [4] - The general manager, Zhu Xuhui, earned 476,300 yuan in 2024, down by 237,100 yuan from the previous year [4] Group 4: Shareholder Information - As of September 30, 2025, the number of A-share shareholders decreased by 4.66% to 9,067, while the average number of circulating A-shares held per account increased by 2.01% to 16,200 [5]

Group 1 - On September 23, Suzhou Planning's stock price increased by 0.96%, with a transaction amount of 93.01 million yuan [1] - The financing data shows that on the same day, Suzhou Planning had a financing buy-in amount of 9.80 million yuan and a financing repayment of 11.07 million yuan, resulting in a net financing buy of -1.27 million yuan [1] - As of September 23, the total balance of margin trading for Suzhou Planning was 103 million yuan, accounting for 5.41% of its circulating market value, indicating a high level compared to the past year [1] Group 2 - As of June 30, the number of shareholders for Suzhou Planning was 9,670, a decrease of 9.01% from the previous period [2] - The average circulating shares per person increased by 41.85% to 7,747 shares [2] - For the first half of 2025, Suzhou Planning reported an operating income of 103 million yuan, a year-on-year decrease of 22.11%, and a net profit attributable to shareholders of 5.04 million yuan, down 65.70% year-on-year [2] Group 3 - Since its A-share listing, Suzhou Planning has distributed a total of 93.28 million yuan in dividends [3]

Group 1 - The core viewpoint of the news is that Lei'ao Planning has shown fluctuations in its stock performance and financing activities, with a notable decrease in net financing and a mixed performance in revenue and profit [1][2]. - As of August 26, Lei'ao Planning's stock price increased by 1.28%, with a trading volume of 200 million yuan. The net financing amount was -3 million yuan, indicating more repayments than new purchases [1]. - The total financing and margin trading balance for Lei'ao Planning reached 124 million yuan, accounting for 3.38% of its market capitalization, which is above the 50th percentile level over the past year [1]. Group 2 - As of August 20, the number of shareholders for Lei'ao Planning was 9,895, a decrease of 1.96% from the previous period, while the average circulating shares per person increased by 2% to 15,221 shares [2]. - For the first quarter of 2025, Lei'ao Planning reported a revenue of 76.29 million yuan, a year-on-year decrease of 11.52%, while the net profit attributable to the parent company was 3.80 million yuan, reflecting a year-on-year increase of 9.32% [2]. - Since its A-share listing, Lei'ao Planning has distributed a total of 26.17 million yuan in dividends, with 13.57 million yuan distributed over the past three years [3].