*ST Jinglun: The company has been below 500 million yuan for 18 consecutive days, confirming mandatory delisting.

（Source: Caixin）

          In accordance with the relevant provisions of the《Stock Listing Rules》, the shares of companies whose delisting is forced under the trading category will not enter the delisting interim period.            

On April 1, *ST Jinglun (600355.SH) released an announcement regarding abnormal fluctuations in stock trading. According to the relevant provisions of the《Shanghai Stock Exchange Stock Listing Rules》, the company’s stock closing price decline deviations accumulated to more than 12% within three consecutive trading days—March 30, 2026, March 31, 2026, and April 1, 2026—therefore it falls under the circumstance of abnormal fluctuations in stock trading.

In response to the abnormal fluctuations in the company’s stock, this company conducted investigations into the relevant matters, and in writing verified the company’s controlling shareholder and actual controller. Based on the company’s self-check, this company and its controlling subsidiaries are operating normally in terms of production and business; there has been no material change in the market environment or industry policies; and there is no material information that should have been disclosed but has not been disclosed. Meanwhile, based on the company’s self-check, and by verifying with the company’s controlling shareholder and actual controller—namely, individual shareholder Mr. Zhang Xueyang—and the company’s management in writing, the company, its controlling shareholder, and its actual controller confirm that there is no material information that should have been disclosed but has not been disclosed, including but not limited to major asset restructuring, share issuance, major trading-related matters, business restructuring, share repurchases, equity incentives, bankruptcy reorganization, major business cooperation, the introduction of strategic investors, and other major matters. In addition, based on the company’s self-check, no media reports or market rumors have been found that could potentially have a material impact on the company’s stock trading price.

The company has highlighted multiple risks. First is market trading risk: the company’s stock closing price decline deviation accumulated to more than 12% within three consecutive trading days recently, meaning the stock price has experienced large short-term fluctuations. Second is the financial-category delisting risk: the company expects its net profit for fiscal year 2025 to be negative, and after deducting operating revenue that is unrelated to its main business and revenue that does not have commercial substance, the operating revenue will be below 300 million yuan; after the annual report is disclosed, it will fall under the relevant circumstances specified in the《Shanghai Stock Exchange Stock Listing Rules》, and the company’s stock will be delisted. Finally is the trading-category delisting risk: on April 1, 2026, the company’s stock closed at 0.64 yuan, below 1 yuan; its total market value is 315 million yuan, and it has been below 500 million yuan for 18 consecutive days. Even if the subsequent two trading days both hit the daily limit up consecutively, it will still trigger the trading-category forced delisting because the market value remains below 500 million yuan for 20 consecutive trading days. In accordance with the relevant provisions of the《Stock Listing Rules》, the shares of a company subjected to forced delisting under the trading category will not enter the delisting interim period.

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