ST Mizhi: Stock price fluctuation indicates restructuring and delisting risks.

ST Meizhi announced that the deviation of the closing prices of the company's stock on June 12 and 15, 2026 exceeded 12%, which is considered abnormal fluctuations. The revenue in 2025 was 35256.19 million yuan, a year-on-year decrease of 49.91%, with a net loss of 21363.30 million yuan, and a net asset of -5246.62 million yuan at the end of the period. Creditors applied for an out-of-court restructuring of the company on May 15, which has been accepted, but it is uncertain whether a restructuring plan can be reached in the future. The company's stock has been subject to delisting risks and other risk warnings, and will be delisted if related circumstances occur in 2026. The stock price had a cumulative increase of 120.11% from March 23 to June 15, deviating from the fundamentals, reminding investors to pay attention to the risks.