After the market close on September 18, ST Jiuding disclosed that it had received a case filing notice from the China Securities Regulatory Commission that day. Because the company's accounting for inventory and investment property from 2023 to 2024 was inaccurate and it is suspected of illegal information disclosure, the CSRC decided to place the company on file for investigation. The company said all of its operating activities are currently proceeding normally and that it will actively cooperate with the investigation. The company had previously made retrospective adjustments to its 2023 and 2024 financial statements. For 2023, it made an additional provision for inventory write-downs of 169 million yuan, and correspondingly reduced the over-provision for 2024 by 177 million yuan. For 2023, it increased the loss from changes in the fair value of investment property by 8 million yuan, and correspondingly reduced that loss for 2024 by 1 million yuan. After the retrospective adjustments, the company's net profit attributable to the parent for 2023 changed from a profit of 15.3451 million yuan before the adjustment to a loss of 118 million yuan, while the net profit attributable to the parent for 2024 was adjusted from a loss of 268 million yuan to a loss of 135 million yuan. On June 3 this year, the Shanghai Stock Exchange publicly reprimanded the company and its then chairman Wang Liang, then general manager Wang Xin, and then chief financial officer and board secretary Yi Lingjie, because the company's disclosure of revenue after deductions in its earnings forecast was inaccurate and it failed to adequately warn of the risk of a delisting risk warning. Because its revenue after deductions was below 300 million yuan and its net profit was negative, the company's shares have been subject to a delisting risk warning since April 30, 2026, and its stock abbreviation was changed from Jiuding Investment to ST Jiuding.
