Group 1 - The implementation of new delisting regulations in the A-share market has intensified pressure on ST companies to maintain their listings, with specific financial thresholds triggering mandatory delisting [2] - ST Jinglun (600355.SH) exemplifies the challenges faced by ST companies, experiencing panic selling and a significant drop in trading volume due to delisting risks, ultimately leading to its expected delisting [2] - In contrast, ST Dongjing (002199.SZ) has introduced a new battery-grade lithium carbonate business, which is projected to help it meet revenue requirements to avoid delisting, although the sustainability of this revenue remains uncertain [2] Group 2 - Mergers and acquisitions have emerged as a crucial strategy for ST companies to improve their financial standings, with ST Huarong (600421.SH) and ST Huike (300561.SZ) successfully increasing their revenues through equity stakes in subsidiaries and acquisitions [3] - Asset divestiture has been widely adopted, with ST Zhongdi (000736.SZ) turning its net assets positive by selling real estate-related assets, and ST Nanzhi transferring a loss-making development business to its controlling shareholder to improve its financial situation [3] - Bankruptcy restructuring has also been utilized, with ST Dongyi (002713.SZ) significantly increasing its net assets post-restructuring, and several ST companies benefiting from debt waivers to enhance their balance sheets [3] Group 3 - Regulatory bodies are closely monitoring "emergency shell protection" actions, as seen in the scrutiny of ST Jinglun's server business revenues and skepticism regarding ST Huike's acquisition outcomes, reflecting a zero-tolerance approach from regulators [4] - The establishment of a regular delisting mechanism is seen as beneficial for market efficiency, promoting a survival-of-the-fittest environment, while investors are cautioned about the high-risk nature of ST companies [4]

证券代码：600355 证券简称：*ST 精伦 公告编号：临 2026-008 三、 公司股票存在被终止上市的风险 公司于 2026 年 1 月 28 日披露了《精伦电子 2025 年年度业绩预亏公告》（公告编号： 临 2026-002）和《精伦电子关于公司股票可能被终止上市的风险提示公告》（公告编号： 2026-003）。公司预计 2025 年度净利润为负值，且扣除与主营业务无关的业务收入和不具 备商业实质的收入后的营业收入低于 3 亿元，年报披露后将触及《上海证券交易所股票上 市规则》第 9.3.7 条等规定情形，公司股票将被终止上市。敬请广大投资者注意投资风险。 公司股票价格近期波动较大，公司郑重提醒广大投资者：《上海证券报》及上海证券 交易所网站（http://www.sse.com.cn）为公司指定的信息披露媒体，公司所有信息均以在 上述指定信息披露媒体上披露的内容为准。敬请广大投资者注意投资风险。 公司股票存在被终止上市的风险。精伦电子股份有限公司（以上简称"公司"） 于 2026 年 1 月 28 日披露了《精伦电子 2025 年年度业绩预亏公告》（公告编号： 临 2026-002）。公司预计 ...

2月11日上午，*ST精伦盘中涨停，上演"地天板"，成交额1.5亿元。 ...

据经济观察报-经济观察网 2026年1月27日至2月6日，*ST精伦（600355.SH）连续9个交易日跌停，成交 额从5200万元急剧萎缩至不足500万元。截至2月6日收盘，股价跌至1.45元/股，仍有约1亿元资金在跌 停价等待卖出。该公司因触及新"国九条"财务类退市指标，面临退市风险。根据业绩预告，其2025年扣 除后营业收入仅8622万元，未达3亿元红线。董秘办人士证实，上交所认定算力服务器业务存在客户单 一风险，收入被剔除，退市已成定局。 ...

证券代码：600355 证券简称：*ST 精伦 公告编号：临 2026-007 精伦电子股份有限公司 关于公司股票可能被终止上市的第二次风险提示公告 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法律责任。 重要内容提示： 一、可能被终止上市的原因 公司于 2025 年 4 月 26 日披露了《精伦电子股份有限公司关于实施退市风险 警示暨停牌的公告》（公告编号：2025-020），因公司 2024 年度经审计的利润总 精伦电子股份有限公司（以下简称"公司"）于 2025 年 4 月 26 日披露了 《精伦电子股份有限公司关于实施退市风险警示暨停牌的公告》（公告编 号：2025-020），因公司 2024 年度经审计的利润总额、净利润、扣除非 经常性损益后的净利润孰低者为负且扣除与主营业务无关的业务收入和 不具备商业实质的收入后的营业收入低于 3 亿元，公司股票于 2025 年 4 月 29 日开市起被实施退市风险警示。 公司预计 2025 年度经审计的净利润为负值且扣除与主营业务无关的业 务收入和不具备商业实质的收入后的营业收入低于 3 ...

（文章来源：每日经济新闻） 每经AI快讯，2月10日，*ST精伦跌停走出11连板，11天累计跌幅达42.79% ...

2026年2月10日，*ST精伦（sh600355）触及跌停，跌停价1.38元，涨幅-5.07%，总市值6.45亿元，流通 市值6.45亿元，截止发稿，总成交额21.92万元。 声明：市场有风险，投资需谨慎。本文为AI大模型基于第三方数据库自动发布，任何在本文出现的信 息（包括但不限于个股、评论、预测、图表、指标、理论、任何形式的表述等）均只作为参考，不构成 个人投资建议。受限于第三方数据库质量等问题，我们无法对数据的真实性及完整性进行分辨或核验， 因此本文内容可能出现不准确、不完整、误导性的内容或信息，具体以公司公告为准。如有疑问，请联 系biz@staff.sina.com.cn。 责任编辑：小浪快报 根据喜娜AI异动分析，*ST精伦跌停原因可能如下，业绩亏损+市场交易+股价波动： 1、业绩亏损压 力：2026年1月28日业绩预告显示2025年报亏损小幅增加，归母净利润 -4550万~ -3950万。业绩亏损增 加对公司股价形成一定压力，投资者对公司的盈利预期降低，进而影响股价表现，这是导致跌停的重要 因素。 2、市场交易因素：2026年2月6日发生4笔大宗交易，虽然折溢率为0表明交易价格与市场价格一 致 ...

| 交易日期 | 证券简称 | 证券代码 | | | 成交价(元) 成交金额(万元) 成交量(*) 买入营业部 | 类出营业部 | 是否为专场 | | --- | --- | --- | --- | --- | --- | --- | --- | | 2026-02-09 | "ST精伦 | 600355 | 138 | 69 | 50 | 都 大 | 190 | | 2026-02-09 | *ST精伦 | 600355 | 1.38 | 68.99 | 49.99 | | KI | | 2026-02-09 | *ST精伦 | 600355 | 1.38 | 68.99 | 49.99 | | Ka | 2月9日，*ST精伦大宗交易成交149.98万股，成交额206.98万元，占当日总成交额的34.83%，成交价1.38 元，较市场收盘价1.38元持平。 ...

Core Viewpoint - The A-share market is experiencing a critical phase where companies are engaging in various actions to avoid delisting due to financial indicators, particularly focusing on achieving revenue above 300 million yuan or turning losses into profits, as well as correcting negative net assets [1][2]. Group 1: Financial Indicators and Delisting Risks - The new "National Nine Articles" implemented in January 2025 raised the revenue threshold for delisting from 100 million yuan to 300 million yuan, allowing companies that can exceed this revenue to avoid delisting risks [5]. - Companies like *ST Jinglun and *ST Dongjing are attempting to cross the delisting threshold through various strategies, including revenue boosts, mergers, and asset disposals [2][6]. Group 2: Company Strategies for Survival - *ST Jinglun is trying to incorporate new business lines into its main revenue streams, but faced challenges with revenue recognition for its new server business, leading to a significant reduction in reported revenue [7][8]. - *ST Dongjing reported an expected revenue increase to between 340 million and 370 million yuan, aided by new business ventures, although it still anticipates losses [9][10]. Group 3: Mergers and Acquisitions - Mergers and acquisitions are being utilized by companies like *ST Huazhong and *ST Huike to surpass financial thresholds, with *ST Huazhong projecting a turnaround in profitability due to its acquisition of a controlling stake in Zhejiang Zhuangchen [12][13]. - *ST Huike's acquisition of a 51% stake in Nanjing Yizhengtong is also noted as a strategy to meet revenue requirements, despite market skepticism regarding its financial health [13]. Group 4: Asset Restructuring and Debt Relief - Several companies are opting for asset disposals to improve their financial standings, with *ST Zhongdi successfully turning its net assets positive through significant asset restructuring [16][17]. - Companies like *ST Nanzhi and *ST Lvkang have also engaged in asset sales to achieve similar outcomes, with *ST Nanzhi transferring real estate assets to improve its equity position [17]. Group 5: Bankruptcy and Debt Waivers - Bankruptcy restructuring has emerged as a key strategy for survival, with companies like *ST Dongyi successfully completing their restructuring plans and improving their financial positions [18]. - Debt waivers from major shareholders or creditors have been reported by several companies, allowing them to quickly enhance their net asset status [18].

Core Viewpoint - The A-share market is witnessing a critical "survival race" as companies face delisting risks due to financial indicators set by the new "National Nine Articles," which include negative profit totals, net profits, and insufficient revenue [2][4]. Group 1: Companies Facing Delisting Risks - *ST Jinglun is experiencing a severe decline, with nine consecutive trading days of limit-down, and a significant drop in trading volume to less than 5 million yuan, as it faces delisting expectations [2]. - Other companies like *ST Dongjing and *ST Huarong are attempting various strategies such as asset restructuring and debt waivers to avoid delisting, focusing on key financial indicators like revenue exceeding 300 million yuan or turning net assets positive [2][4]. Group 2: Financial Performance and Strategies - The new regulations increased the revenue threshold for delisting from 100 million yuan to 300 million yuan, prompting companies to strive for this new target to avoid delisting risks [4]. - *ST Jinglun is attempting to incorporate new business lines into its main revenue stream, while *ST Dongjing is projecting a revenue increase to between 340 million and 370 million yuan, surpassing the 300 million yuan threshold [6][8]. Group 3: Specific Company Actions - *ST Jinglun's revenue forecast for 2025 is approximately 338 million yuan, but after excluding non-core business income, the adjusted revenue is only about 86.22 million yuan, indicating a failure to turn a profit [6][7]. - *ST Huarong expects to achieve a net profit of between 6.5 million and 8 million yuan for 2025, aided by a 30% increase in revenue from its subsidiary, which it acquired a larger stake in [10]. Group 4: Market Reactions and Future Outlook - The market is closely monitoring companies that have narrowly met the revenue thresholds, with concerns about the sustainability of these figures and the potential for revenue adjustments post-audit [11][12]. - Companies are increasingly resorting to mergers and acquisitions as a strategy to enhance their financial performance and meet the new revenue requirements [10][15].