ST Zhengping: Abnormal fluctuations in stock prices indicate various risks and performance losses.

ST Zhengping announced that the closing price of the company's stock deviated by more than 12% for three consecutive trading days from January 6 to 8, 2026, indicating abnormal fluctuations. The fundamental situation has not changed, but the stock price has significantly diverged from the fundamentals. The company's debt restructuring application is partially submitted, with some subsidiaries not included, making it difficult to eliminate issues related to non-standard opinions. As of the end of the third quarter of 2025, the company's net assets attributable to shareholders were 280 million yuan. It is not ruled out that due to asset impairment, the audited net assets attributable to shareholders for the year 2025 may become negative and result in delisting. In 2024, the company had a revenue of 1.362 billion yuan and a net loss attributable to shareholders of 484 million yuan. For the first three quarters of 2025, the revenue was 652 million yuan, with a net loss attributable to shareholders of 99 million yuan.