ST Zhuoran is suspected of false records in its annual financial disclosures and may face mandatory delisting for major violations. According to preliminary findings from the regulatory investigation, some of the company's disclosed annual financial information is suspected of being false, and the China Securities Regulatory Commission's investigation is still ongoing. The Shanghai Stock Exchange has issued a regulatory work letter requiring the company to fully disclose the relevant risks and conduct a self-examination. The company's 2025 annual report shows revenue of 1.849 billion yuan, down 38.08 percent year-on-year, and a net loss of 188 million yuan, swinging from profit to loss compared with the previous year. Some directors raised objections to the annual report, and the annual audit firm issued a disclaimer of opinion on the audit report and an adverse opinion on the internal control audit report.
Shanghai Supezet Engineering Technology Corp LtdSuspected false financial records and potential mandatory delisting due to regulatory investigation.
