[Anhui Securities Regulatory Bureau: *ST Lifang Faces Major Violation and Delisting Risk; Regulatory Action to be Taken Against False Market Information] On January 23, the Anhui Securities Regulatory Bureau issued a notice regarding *ST Lifang. The notice stated that *ST Lifang's financial data in its annual reports for 2021, 2022, and 2023 are suspected of being false, triggering the provisions of the "Rules Governing the Listing of Stocks on the Growth Enterprise Market" regarding mandatory delisting for major violations. The company's stock may be forcibly delisted, and the Anhui Securities Regulatory Bureau issued a "Prior Notice of Administrative Penalty and Market Entry Prohibition" on November 28, 2025. The notice indicated that the proposed penalty target applied for an extension of the appeal and hearing, which the Anhui Securities Regulatory Bureau has granted in accordance with the law. Currently, relevant work is being expedited, and an administrative penalty decision will be made subsequently in accordance with the law. The notice also mentioned that recently, some individuals have published information through the media such as "*ST Lifang Responds to Risk Warning: Multiple Measures to Cope with Challenges, Stock to Resume Trading on the 20th," which is suspected of containing untrue, inaccurate, incomplete, and misleading information. The company has issued a clarification through legal channels, and the Anhui Securities Regulatory Bureau will carry out regulatory action in accordance with the law. The notice also solemnly reminds investors that *ST Lifang faces a significant risk of mandatory delisting due to serious violations. Investors are advised to rely on the company's official announcements, invest rationally, and avoid being misled by false information to prevent losses.
