*ST Jinglun: The company's stock faces the risk of possible delisting due to market capitalization falling below 500 million yuan or stock price falling below 1 yuan

(Source: Caixin)

The company expects a net profit for 2025 to be negative, and after deducting non-core business income and non-substantial income, operating revenue will be less than 300 million yuan.

On March 19, *ST Jinlun (600355.SH) announced that the closing prices of the company’s stock on March 17, 18, and 19, 2026, have deviated from the average by more than 12% over three consecutive trading days. According to the relevant provisions of the Shanghai Stock Exchange Stock Listing Rules, this constitutes abnormal stock trading fluctuations.

In response to the abnormal fluctuations in the company’s stock, the company has conducted verification of relevant matters and provided written confirmations from its controlling shareholder and actual controller. After self-inspection, the company and its subsidiaries are operating normally, and there have been no significant changes in the market environment or industry policies. There is no major undisclosed information that should be disclosed. Additionally, through self-inspection and confirmation from the controlling shareholder and actual controller—Mr. Zhang Xueyang and the company’s management—the company, controlling shareholder, and actual controller confirm that there is no major undisclosed information, including but not limited to major asset restructuring, share issuance, significant transactions, business restructuring, share repurchase, equity incentives, bankruptcy reorganization, major business cooperation, or introduction of strategic investors. Furthermore, the company has not found any media reports or market rumors that could significantly impact the company’s stock trading price.

The announcement states that the company’s stock prices on March 17, 18, and 19, 2026, have deviated from the average by more than 12% over three consecutive trading days, indicating large short-term fluctuations. The company expects a negative net profit for 2025, and after deducting non-core income and non-substantial income, operating revenue will be below 300 million yuan. After the annual report disclosure, the company will meet the conditions specified in Article 9.3.7 of the Shanghai Stock Exchange Stock Listing Rules, and its stock will be delisted. The closing price of the company’s stock on March 19, 2026, was 0.74 yuan, below 1 yuan for six consecutive days, with a total market value of 364 million yuan. It has been below 500 million yuan for nine consecutive days. The company’s stock faces the risk of being delisted due to a market value below 500 million yuan or a stock price below 1 yuan.

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