Annual report audit review is advance be highlighted "non-standard" opinions, *ST companies are triggering delisting "warnings" in succession.

According to the audit progress disclosed in advance as required, it is becoming a window to reveal the fate of delisting of *ST companies. Recently, *ST Guandian and 3 other companies announced that, based on the current situation, the annual audit accounting firm will issue a non-unqualified opinion on the 2025 financial report. According to the delisting rules, if the final audit opinion is issued, the company's stock will face delisting. In addition, some *ST companies have exposed issues such as revenue recognition discrepancies, net asset downgrades, and internal control deficiencies during the audit process, and the risk of delisting cannot be ignored. An accounting expert, interviewed by Shanghai Securities News, said that when audit firms disclose "non-standard" opinions in advance, it means that the conclusions on key audit matters of the related companies have no room for reversal, and such *ST companies usually cannot escape the fate of delisting. "Investors should timely and fully realize the risks involved, and should not blindly follow trends or speculate in order to avoid getting burned."