in 2026 May Appear! (Related reading: were fined a total of 31 million yuan ." One of them was banned from entering the securities market for life, and the other was banned from entering the securities market for 10 years.
According to the previous announcement issued by * ST Changyao, the company's stock will enter the delisting consolidation period on March 20. The delisting consolidation period is 15 trading days, and the last trading day is expected to be April 10, 2026. According to
the data, the predecessor of * ST Changyao is Kangyue Science and Technology, whose main business is the research and development, production and sales of internal combustion engine parts. In August 2017, Kangyue Technology entered the photovoltaic equipment track through the acquisition of Yiheng Technology.
It backfired. * ST Changyao wanted to rely on photovoltaics to "add fire" to its performance, but unexpectedly it suffered a "big fall" two years after entering the game. Data show that in 2019, * ST Changyao suffered a huge loss of nearly 700 million yuan , exceeding the total profit of 6 years. Sadly
, just as the "double carbon" target was put forward in 2020 and the photovoltaic industry was about to enter a historic outlet, * ST Changyao was transformed again. (Hereinafter referred to as "Changjiang Star") 52.
Data show that since 2020, the proportion of the main business profit of * ST Changyao Photovoltaic Industry in the total business profit of the company has been gradually declining.
At that time , Kangyue Technology, the predecessor of * ST Changyao, chose to divest its internal combustion engine business. It was officially renamed Changjiang Pharmaceutical Holding Co., Ltd. in March 2023. However, the pharmaceutical business failed to save the company's decline.
In 2023, due to the poor management of pharmaceutical business, the profit of * ST Changyao declined, resulting in a decline in its profit share; on the contrary, in the case of a decline in the profit of photovoltaic business, the profit share has increased.
Photovoltaic Industry Staged Life and Death "Battle Royale"!
From the perspective of enterprise background , most of these endangered enterprises are "laymen" from other fields such as medicine, real estate, ecological and environmental protection. But there are also many old photovoltaic enterprises such as Yijing Optoelectronics.
From the perspective of the industrial chain, Most of the enterprises that are delisted or on the verge of delisting are concentrated in https://www.databm.
with low threshold and low technology content . Most of these enterprises blindly lay out the mainstream battery technology on a large scale in the industry outlet, but neglect to cultivate deeply. After the tuyere, it can not achieve technological transformation and upgrading, but also face the dilemma of overcapacity.
Finally, from the core reasons , the reasons for delisting or being on the verge of delisting of such enterprises are concentrated in two aspects. First, the par value delisting is triggered because the stock price is less than 1 yuan for 20 consecutive trading days; on the other hand, the company's annual financial data touches the GEM/main board delisting rules, such as * ST Lida and Bangjie shares.
However, in the cold winter of the industry, there are also enterprises in danger of survival .
Tian Eye Check data show that as of March 19, 2026, more than 350000 photovoltaic companies have been cancelled, revoked, withdrawn, closed and ordered to close. Among them, companies with an establishment period of 5-10 years account for more than 30%, followed by companies with an establishment period of 1-3 years, accounting for the largest proportion.
In terms of geographical distribution, Shandong ranks first in the list. Have over 4.
At the same time, since April 1 < a href = "https://www.databm.", it can be predicted that there will still be a large number of enterprises in the photovoltaic industry that only rely on the heat and lack of core technology will be completely eliminated by the market.
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