Delisting Risk 退市风险
The badges are our classification; the headline is the filing's own title.
标签为本站分类，标题为公告原文。
What This Means 这类披露的含义
These notes describe the category of disclosure in general.
以下说明针对这一类披露的一般情况。
The exchange has flagged the shares for delisting risk, or the company warns that removal from listing is possible.
交易所对公司股票实施退市风险警示，或公司提示股票可能被终止上市。
A flagged stock carries the ST or *ST marker in its name. A forced delisting ends exchange liquidity altogether.
被警示的股票简称前加注ST或*ST。一旦被强制退市，股票就彻底失去在交易所交易的流动性。
A company officer, or the company itself, is under detention or a formal investigation by disciplinary or judicial authorities.
公司高管或公司本身被留置，或被纪检监察、司法机关立案调查。
It removes decision-makers at short notice and can precede penalties, asset freezes or worse disclosures. The uncertainty alone weighs on financing and on the shares.
关键决策人可能突然缺位，之后还可能出现处罚、资产冻结或更负面的披露。仅不确定性本身就会影响融资和股价。