6 listed companies have been implemented or applied for revoking risk warnings due to different risk situations: ST Hezong and ST Cube have been implemented for other risk warnings due to negative opinions in the 2024 internal control audit, and are promoting internal control rectification; ST Jinyi has applied for revoking other risk warnings due to administrative penalty of 12 months, etc.; *ST Kaiyuan has withdrawn the delisting risk warning, but has continued to be implemented for other risk warnings due to negative net profit for deducting non-recurring for three consecutive years, and is facing uncertainty in reorganization; ST Tianlong has been superimposed for delisting risk warnings due to production and operation difficulties, negative net assets, etc.; ST Xianfeng's application to revoke two types of risk warnings is still in the stage of reviewing supplementary materials. All companies are reminding risks to warn of related progress and investment risks.
Detailed summary
- ST Hezong (300477) Risk situation: The internal control audit of the 2024 Annual Financial Report was issued with a negative opinion, and other risk warnings were implemented, and a delisting risk warning may be implemented. Measures: Strengthen the construction of internal control system, financial team training, risk management and audit supervision, and strengthen compliance awareness. Progress: Progress needs to be disclosed monthly until the situation is eliminated. ST Jinyi (002721) Risk situation: In 2024, he was administratively punished for inadequate inventory impairment and other risks were continuously implemented. Revoke the application: Retrospectively adjusted the financial data for 2020-2021, administrative penalties exceed 12 months, no other risk situations; 1 case involving the lawsuit has been closed (claimed amount is RMB 25,059.02, compensation is RMB 13,677.29), and 18 cases are pending trial. Risk: Revocation of the application requires review by the Shenzhen Stock Exchange, and there is uncertainty. ST Cube (300344) Risk Situation: The negative opinions of the 2024 annual internal control audit were subject to other risk warnings, and at the same time, the China Securities Regulatory Commission investigated for suspected information disclosure violations. Measures: Correct internal control and correct accounting errors in 2021-2023. The controlling shareholder's 32 million shares (accounting for 4.99%) may be enforced by the judicial system. Progress: The investigation is still in progress and the progress needs to be disclosed every month. *ST Kaiyuan (300338) Risk adjustment: The net assets will be positive in 2024, and the delisting risk warning will be cancelled (referred to as "ST Kaiyuan" to change from "*ST Kaiyuan" to "ST Kaiyuan"), but because of 2022-2024 The annual net profit of deducting non-recurring non-operating items is negative and the ability to continue to operate is doubtful, and other risk warnings continue to be implemented. New risks: When a creditor applies for pre-restructuring, there is uncertainty about whether he can enter the restructuring procedure and the restructuring results, it may trigger a delisting risk warning. *ST Tianlong (300029) Risk situation: Production and operation stagnation (work and production suspension from 2018), net assets in 2024 were negative, and the risk warning of delisting was implemented. The main accounts of the subsidiary were frozen (freezing amount of RMB 10.2603 million, accounting for the company's monetary funds. 73.76%) were superimposed on other risk warnings, and the controlling shareholder 14 million shares (accounting for 6.98%) were frozen and may be disposed of by justice. Measures: Promote the transformation of new energy business, some frozen accounts have been lifted, and the remaining accounts are pending. *ST Xianfeng (002141) Application Progress: Apply for the revocation of delisting risk warnings and other risk warnings. It is currently in the supplementary material stage, and there is uncertainty in the review results
The common reason is that the internal control audit of the 2024 annual financial report was issued a negative opinion triggered the provisions of Article 9.4 (IV) of the "Shenzhen Stock Exchange GEM Stock Listing Rules". According to the rules, if the internal control audit in the first subsequent fiscal year is still a negative opinion or cannot express an opinion, a delisting risk warning may be implemented.
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