Investors who have suffered losses can register their claims through the relevant investor rights protection platform. Recently, legal representatives have submitted a new batch of立案 applications for investor claims against Guizhou Bailing.

Reviewing Guizhou Bailing's information disclosure violations, according to a prior "Administrative Penalty Advance Notice" issued by the Guizhou Securities Regulatory Bureau, the company faces heavy penalties for years of financial misrepresentation and disclosure violations. The investigation found that from 2019 to 2021, the company underreported sales expenses by a cumulative 655 million yuan,虚增 an equivalent amount of profit; in 2023, it over-reported sales expenses by 459 million yuan,虚减 an equivalent amount of profit.

This four-year period of false records in annual reports has led regulators to propose a fine of 10 million yuan on the company. Chairman Jiang Wei and nine other responsible persons face combined proposed fines of 15.6 million yuan, with Jiang Wei also facing a 10-year market ban. Currently, in related cases concerning violations connected to performance forecasts, some investors have already obtained final and binding victorious rulings.

Investors who meet any of the following criteria can now participate in registering claims: (1) Those who purchased shares between January 31, 2024, and April 29, 2024, and sold them after April 30, 2024, or continued to hold them and incurred losses. (2) Those who purchased shares between April 30, 2020, and November 8, 2024 (inclusive), and sold them after November 9, 2024, or continued to hold them and incurred losses.

Simultaneously with the regulatory crackdown, the operational situation of ST Bailing is also concerning. On January 30, 2026, the company released its 2025 performance forecast, estimating a full-year net profit attributable to shareholders of between a loss of 60 million yuan and 90 million yuan. This represents a significant decrease of 278.46% to 367.68% compared to the same period last year. The net profit loss after deducting non-recurring gains and losses is expected to be even larger, projected between 102 million yuan and 132 million yuan.

Regarding the significant decline in performance, the company attributed it primarily to multiple external factors, including a slowdown in pharmaceutical market demand, adjustments to medical insurance payment policies, and intensified market competition. Furthermore, the expansion of the company's internal fixed asset scale led to increased depreciation and amortization expenses, and rising fixed costs also significantly eroded profit margins. Under the dual pressures of disclosure violations and performance losses, the future development prospects of ST Bailing still face severe challenges.

Investors who have suffered losses are encouraged to actively utilize legal means to protect their rights and interests.