*ST Wanfang: Abnormal stock market fluctuations, multiple delisting risks draw attention*

*ST Wanfang announced that the cumulative deviation of the closing price of the company's stock for three consecutive trading days from January 21 to 23, 2026 was 17.11%, indicating abnormal fluctuations. After verification, the company stated that there is no need to correct or supplement the information disclosed earlier, no undisclosed significant impact information has been found, the operating environment remains unchanged, and there are no undisclosed matters that should be disclosed. In addition, the company faces multiple risks of delisting. There is a possibility of financial delisting if the revenue for the year 2025 is less than 300 million yuan and profit is negative, or if financial issues remain unresolved from the audit in 2024 and may still receive a qualified opinion in 2025; the company was investigated by the China Securities Regulatory Commission in July of 2025, with the outcome pending, which could potentially lead to a major violation and mandatory delisting.*