ST rock: Multiple risks to be resolved such as termination of listing due to performance and audit issues

*ST Rock announced that the stock price has recently fluctuated greatly and surged by the daily limit on March 20th. The annual audit firm has not obtained sufficient evidence to prove the elimination of the issues related to the non-retained opinions for 2024. If unable to obtain it, a non-unqualified opinion may be issued for the 2025 annual report, leading to the company's stock being delisted due to the non-standard audit opinions affecting financial matters. The company is expected to generate revenue of 48-60 million RMB in 2025, but incur a net loss of 180-250 million RMB, which will also trigger the delisting criteria for financial reasons. In addition, all shares of the controlling shareholder have been frozen by the judiciary and the actual controller has been subject to criminal enforcement measures.