What does a standardized delisting risk warning mean?

1. Risk warnings include: delisting risk warning (*ST) and other risk warnings (ST). Where the listed company's shares are subject to delisting risk warning and other risk warnings at the same time, the abbreviation of the company's shares shall be preceded by the word "*ST"; Stocks listed as risk warnings enter the risk warning board trading (note: after the delisting risk warning is implemented, the science and technology innovation board will no longer enter the risk warning board trading).

2. The purpose of setting up a risk warning board is to remind investors of major risks. Risk warning board stocks include risk warning stocks and delisting stocks; Risk warning stocks include stocks warned on the main board of the Shanghai Stock Exchange, the main board of the Shenzhen Stock Exchange, the original small and medium-sized board and the Growth Enterprise Market of the Shenzhen Stock Exchange. Delisted stocks refer to stocks that have been decided by the exchange to terminate listing, but have not been delisted during the delisting consolidation period.

3. A listed company whose shares have been delisted refers to the situation that its listing is terminated actively or passively because it fails to meet the relevant financial and other listing standards of the Exchange, and it becomes a non-listed company from a listed company. Delisting can be divided into active delisting and passive delisting. According to the relevant regulations, the shares originally circulated in the exchange after the delisting of listed companies will be transferred by a securities company with the qualification of agency share transfer business, and will be traded in the agency share transfer system within 45 working days.