*ST Zhengping: Alert on stock trading and multiple operational risks*

ST Zhengping announced that the company's stock has experienced significant volatility in the short term, with a cumulative increase of 24.16% from April 28th to May 12th and a decrease of 16.44% from May 13th to June 3rd, posing high trading risks. The company has not yet responded to the Shanghai Stock Exchange's inquiry letter regarding the 2025 annual report, and the outcome of the cancellation of the delisting risk warning is uncertain. As of the end of 2025, the audited net assets amounted to 50.49 million yuan, and it is not ruled out that there may be subsequent adjustments to become negative. The company's mining production capacity is insufficient, and mining rights may be frozen. There is significant uncertainty surrounding the acceptance of the pre-restructuring application and the accuracy and completeness of the debt declaration.