Core Viewpoint - The company, Hunan Jingfeng Pharmaceutical Co., Ltd., is facing significant uncertainties regarding its restructuring process and financial stability, with potential implications for its stock trading status and overall viability [1][3][4]. Group 1: Stock Trading and Financial Performance - The company's stock has experienced abnormal trading fluctuations, prompting regulatory scrutiny [1][2]. - For the first half of 2025, the company reported operating revenue of 183.39 million yuan, a decrease of 9.47% year-on-year, and a net profit attributable to shareholders of -32.57 million yuan, an increase of 1.47% year-on-year [3]. - The company has incurred negative net profits for the last three accounting years, raising concerns about its ongoing viability [3]. Group 2: Restructuring Process - The company has entered a pre-restructuring phase, but there is uncertainty regarding whether it will successfully enter formal restructuring proceedings due to the complexity of the application review process [3][4]. - If the court accepts the restructuring application, the company’s stock will be subject to delisting risk warnings, which could further impact investor confidence [4]. - The company has signed a restructuring investment agreement with Shiyao Group, but multiple uncertainties remain regarding the final restructuring plan and related financial arrangements [4][5]. Group 3: Debt Obligations - The company has failed to repay the principal and interest on the "16 Jingfeng 01" bond, which amounts to 295 million yuan, and has reached a debt waiver agreement with five fund management representatives, totaling 110 million yuan in waived principal [5]. - After the waiver, the remaining unpaid principal on the bond is 185 million yuan, indicating ongoing financial distress [5].