ST (special treatment), literally translated as "special treatment". In the A-share market, special treatment will be given to the stock trading of listed companies with abnormal financial or other conditions, and "ST" will be added before the stock abbreviation to remind investors of risks.

Several situations of abnormal financial situation:

The audit results of the last two fiscal years show that the net profit is negative.

The audit results of the latest fiscal year show that its shareholders' equity is lower than its registered capital.

Certified public accountants issue audit reports that cannot express opinions or negative opinions on the property reports of the latest fiscal year.

The audited shareholders' equity in the latest fiscal year, after deducting the part that has not been confirmed by the certified public accountant and relevant departments, is less than the registered capital.

The latest audited financial report adjusted last year's profit, resulting in losses for two consecutive fiscal years.

Therefore, listed companies whose stocks are labeled as "ST" have poor management, loss of performance and obvious financial problems, and face the risk of forced delisting, while ordinary investors lack professional financial knowledge, which can easily lead to serious losses.