Core Viewpoint - A significant number of companies in the A-share market have reported substantial losses, leading to a collective loss of 500 billion yuan, indicating a severe financial crisis within the industry [1][20]. Group 1: Company Losses - 65 companies disclosed their financial troubles, with major players like Red Star Macalline, Jindi Group, and Jianfa Holdings reporting massive losses of 225 billion, 135 billion, and 100 billion yuan respectively [4][10]. - The losses from these three companies alone could have been sufficient to acquire an entire medium-sized sector, highlighting the scale of the financial damage [5]. - The losses are attributed to asset impairment and the devaluation of previously overvalued properties, leading to a collapse in investor confidence [8][20]. Group 2: Market Reactions - The market appears to be in a state of denial, with indices showing resilience while individual stocks suffer severe declines, indicating a disconnect between market perception and reality [3][10]. - The financial reports have led to a significant drop in stock prices, undermining the belief in "core assets" and revealing the fragility of the market [10][20]. Group 3: Financial Strategies - The phenomenon of "financial big washing" is observed, where companies are using accounting flexibility to report massive losses in one go, potentially to reset their financial baselines for future reporting [17][20]. - This strategy allows companies to clear hidden liabilities and prepare for a potential recovery, but it also risks eroding investor trust [20][21]. Group 4: Regulatory Environment - The current regulatory environment, including the new registration system, has increased the pressure on companies to maintain transparency and avoid continuous losses, which could lead to delisting [21][22]. - Companies are advised to focus on fundamental performance rather than speculative trading, as the market is becoming increasingly unforgiving towards those with deteriorating fundamentals [21].

同日，*ST岩石还发布《关于公司股票可能被终止上市的风险提示公告》，称公司预计2025年度实现归 属于上市公司股东的扣除非经常性损益前后的净利润均为负值，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。 根据《上海证券交易所股票上市规则》，公司股票将因触及财务类退市情形被终止上市。 资料显示，公司2019年将工商注册名称改为上海贵酒股份有限公司，明确向白酒业务聚焦，同时还通过 收购、接受控股股东赠与等方式，将高酱酒业、章贡酒业等酒类相关公司纳入麾下，逐步搭建起自身白 酒业务的基础框架。 责任编辑：郝欣煜 来源：今日酒价 1月23日，*ST岩石（600696）发布公告，预计2025年度实现营业收入为4800万元至6000万元，归母净 利润约亏损1.8亿元至2.5亿元。 来源：今日酒价 1月23日，*ST岩石（600696）发布公告，预计2025年度实现营业收入为4800万元至6000万元，归母净 利润约亏损1.8亿元至2.5亿元。 同日，*ST岩石还发布《关于公司股票可能被终止上市的风险提示公告》，称公司预计2025年度实现归 属于上市公司股东的扣除非经常性损益前后的净利润均为负值 ...

证券代码：600696 证券简称：*ST岩石 公告编号：2026－009 上海贵酒股份有限公司 关于公司股票可能被终止上市的风险提示公告 公司 2024 年度经审计的扣除非经常性损益前后的净利润均为负值且扣除与 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，该 事项触及《上海证券交易所股票上市规则》第 9.3.2 条第一款第（一）项规定， 公司股票已于 2025 年 4 月 23 日起被实施退市风险警示。 公司预计 2025 年度经审计的实现归属于上市公司股东的扣除非经常性损益 前后的净利润均为负值，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，根据《上海证券交易所股票上市规则》第 9.3.1 条、9.3.2 条及 9.3.7 条之规定，公司股票将因触及财务类退市情形被终止上市。 公司 2024 年度财务报告被中兴财光华会计师事务所（特殊普通合伙）出具 了带与持续经营相关重大不确定性的保留意见的审计报告（中兴财光华审会字 （2025）第 202235 号），具体请见公司于 2025 年 4 月 22 日披露的《2024 年 审计报告》。目前公司审计 ...

（记者 王晓波） 每经AI快讯，*ST岩石1月23日晚间发布业绩预告，预计2025年度实现归属于上市公司股东的净利润 为-1.8亿元至-2.5亿元，上年同期归属于上市公司股东的净利润为亏损约2.17亿元。业绩变动主要原因 是，2025年白酒行业持续低迷，终端动销整体放缓，消费增长动能不足。白酒行业竞争加剧，产业向优 势产区、优势企业、优势品牌集中的趋势明显，中小品牌酒企愈加受到挤压。公司亦受此行业环境的影 响。2025年公司持续受多方面因素影响，资金承压，返利返货无法兑现，市场投放减少。同时叠加公司 实际控制人被公安机关采取强制措施和控股股东及其一致行动人所持公司股票被司法冻结等一系列事件 影响，经销商关系受挫，对于补货、备货持更加审慎观望态度，导致公司营业收入与上年同期相比大幅 减少。 每经头条（nbdtoutiao）——地方国资开始"抄底"法拍房！单价六七千元"扫货"广州南沙区超60套房 源，同小区二手房挂牌均价逾2万元 ...

格隆汇1月23日丨*ST岩石(600696.SH)公布，公司预计2025年度实现营业收入为4,800.00万元至6,000.00 万元、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为4,500.00万元至5,700.00 万元、利润总额为-24,000.00万元至-30,000.00万元、归属于上市公司股东的净利润为-18,000.00万元 至-25,000.00万元、归属于上市公司股东的扣除非经常性损益后的净利润为-13,000.00万元至-18,000.00万 元、归属于上市公司股东的净资产为15,000.00万元至22,000.00万元。 公司预计2025年度实现归属于上市公司股东的扣除非经常性损益前后的净利润均为负值，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。根据《上海证券交易所股票上 市规则》，公司股票将因触及财务类退市情形被终止上市。 ...

Core Viewpoint - The company *ST Rock* anticipates a significant decline in revenue and an increase in losses for the fiscal year 2025, primarily due to industry downturns, financial pressures, and actions taken against its controlling shareholder [1] Financial Performance - Expected revenue for 2025 is projected to be between 48 million to 60 million yuan, a substantial decrease from the previous year's revenue of 285 million yuan [1] - The total profit is forecasted to be between -240 million to -300 million yuan, with net profit attributable to shareholders expected to range from -180 million to -250 million yuan [1] - The company reported a net profit of -217 million yuan in the previous year [1] Risk of Delisting - Due to the anticipated revenue being below 100 million yuan after excluding specific income, the company's stock is at risk of being delisted under financial criteria [1]

证券之星消息，1月23日白酒板块较上一交易日下跌0.24%，*ST岩石领跌。当日上证指数报收于 4136.16，上涨0.33%。深证成指报收于14439.66，上涨0.79%。白酒板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | | --- | --- | --- | --- | --- | --- | --- | | 000799 | 劑思興 | 53.21 | 1.55% | 7.66万 | | 4.05亿 | | 616809 | 全徽酒 | 20.04 | 0.86% | 2.99万 | | 5976.39万 | | 600702 | 舍得漫业 | 54.90 | 0.84% | 4.95万 | | 2.71亿 | | 603198 | 迎驾贡酒 | 39.12 | 0.72% | ﻛ 3.21万 | | 1.25亿 | | 000860 | 顺鑫农业 | 14.80 | 0.61% | 8.59万 | | 1.27亿 | | 600197 | 伊力特 | 13.69 | 0.59% | 3.96万 | | 5416.63万 | | 6855 ...

证券代码：600696 证券简称：*ST岩石 公告编号：2026－007 上海贵酒股份有限公司 公司 2024 年度财务报告被中兴财光华会计师事务所（特殊普通合伙）出具了带 与持续经营相关重大不确定性的保留意见的审计报告（中兴财光华审会字（2025） 第 202235 号），具体请见公司于 2025 年 4 月 22 日披露的《2024 年审计报告》。目 前公司审计工作正在推进中，保留意见涉及事项尚未有效消除，后续能否消除存在 重大不确定性。根据《上海证券交易所股票上市规则》的相关规定，如公司 2025 年度财务报告被出具保留意见、无法表示意见、否定意见或内部控制报告被出具否 定意见、无法表示意见等，公司股票将因触及财务类退市情形被终止上市。 1 公司股票已于 2025 年 4 月 23 日起被实施退市风险警示（股票代码前冠以*ST）。 具体详见公司于 2025 年 4 月 22 日披露的《上海贵酒股份有限公司关于实施退市风险 警示暨停牌的公告》（2025-022）。 二、其他风险 关于股票交易风险提示公告 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、 ...

*ST岩石公告称，公司近日股价波动较大，2026年某日涨停，已多次披露股票交易异常波动及澄清公 告。截至公告披露日，公司及控股股东无应披露未披露重大事项。2025年前三季度营收3476.21万元， 净利润-1.12亿元，预计2025年度营收低于1亿元且利润为负，或触及财务类退市情形。此外，公司2024 年财报被出具保留意见，相关事项能否消除不确定，控股股东股份全部被司法冻结，实控人韩啸被采取 刑事强制措施。 ...

Market Overview - A-shares major indices opened higher and continued to fluctuate, with the Shanghai Composite Index up by 0.46%, Shenzhen Component Index up by 0.26%, and ChiNext Index up by 0.4% [2][3]. Sector Performance - The oil and petrochemical sector showed strong performance, with significant gains in stocks such as Zhongjie Oil and Blue Flame Holdings, both rising over 10% [5][6]. - The defense and military sector also saw a rise, particularly in large aircraft and aircraft carrier concepts, with stocks like Triangle Defense hitting the daily limit [7][10]. Key Stocks - Triangle Defense achieved a 17 consecutive trading limit increase, closing at 90.48 CNY per share, with a trading volume of 33,161 shares [12][14]. - *ST Rock opened at a limit down of 2.13 CNY per share but surged to 2.35 CNY within a minute, marking a 4.91% increase [18][19]. Oil and Petrochemical Sector Insights - The International Energy Agency's report on January 21 predicts that global oil demand will increase by 930,000 barrels per day by 2026, higher than the previous estimate of 860,000 barrels [6][7]. - The demand growth is expected to come entirely from non-OECD countries, driven by economic recovery and lower oil prices compared to the previous year [7]. Defense and Military Sector Insights - The defense sector's rally was led by stocks in large aircraft, aircraft carriers, and commercial aerospace, with Triangle Defense and Jianghang Equipment among the top performers [7][10]. - Triangle Defense's stock performance reflects strong market interest, with a significant trading volume and price volatility [10][14].