ST Cuihua and Zhuoran Co. will be placed under delisting risk warning from July 7 after failing to disclose their 2025 annual reports on time. Their stock abbreviations will be changed to *ST Cuihua and *ST Zhuoran respectively. Trading in both stocks has been suspended since May 6, and as of July 6 the suspension has lasted two full months without the annual reports being released, triggering delisting risk warning rules of the Shenzhen Stock Exchange and Shanghai Stock Exchange. ST Cuihua said the preparation of its annual report involves extensive verification of inventory, revenue and other items with a heavy workload and has not yet been completed. Zhuoran Co. said its three independent directors unanimously voted against submitting the annual report to the board for review, citing doubts over related-party transactions and the substance of business, as well as the fact that the company and its actual controller are under investigation by the China Securities Regulatory Commission. Both companies received case filing notices from the CSRC on May 6. If they still fail to disclose compliant annual reports within two months after the delisting risk warning is imposed, they will face termination of listing.
Shenyang Cuihua Gold and Silver Jewelry Co LtdCompany failed to release annual report, triggering delisting risk warning and CSRC investigation
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