ST Beauty: Abnormal fluctuations in stock prices, termination of listing and irrational speculation risks exist.

*ST Meizhi announced that the company's stock price deviation from the closing price on May 26-27, 2026 has exceeded 12%, indicating abnormal fluctuations. The revenue in 2025 was 353 million yuan, a year-on-year decrease of 49.91%, with a net loss of 214 million yuan, a reduction of 16.89%. The company's fundamentals have not significantly improved, and the stock price deviation is not in line with the fundamentals. The company and its controlling shareholder have not disclosed any undisclosed significant events. In addition, the company has been publicly reprimanded by the Shenzhen Stock Exchange for violations, facing the risk of delisting, and creditors have applied for out-of-court restructuring, with the acceptance and reach of the solution being uncertain.