ST Chang Medicine: Stock faces multiple risks of being forcibly delisted, and many operational issues need to be resolved.

The ST Changyao announcement stated that the company's stock may be subject to forced delisting in three categories: trading, financial, and major violations. As of January 13, 2026, its stock price has been below 1 yuan for nine consecutive days, with a market value below 3 billion for three consecutive days; the net assets at the end of 2025 are expected to be negative; and the annual reports from 2021-2023 have inflated revenue and other data. During this time, seven subsidiary companies, including Changjiangxing, changed bankruptcy administrators. In addition, the company faces multiple risks such as uncertain ongoing operations, 153 lawsuits involving 1.932 billion yuan, part of the 11.06 billion yuan interest-bearing debt is overdue, a large number of accounts frozen, and the controlling subsidiary owes 120 million yuan in taxes.