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口腔行业中的结构幻觉：一场仍在“复活”的套利机制

 
Issuing time:2025-05-08 14:18Author:产研部

Pro图文封面2025 (1).png

2025年4月29日，*ST九有收到来自上交所的通知，因其2024年度财务报告和内部控制报告均被出具“无法表示意见”，触发了终止上市的条件。这不仅是一起审计失败，更反映了市场对企业治理和财务透明度的深刻质疑。


在这一背景下，*ST九有曾试图通过设立控股子公司切入口腔医疗行业，然而，公告中所提及的投资并未落实，且相关子公司根本没有取得必要的运营许可。这种“设而未动”的资本运作，似乎在等待一个合适的时机再次进入市场的视野，却也让人不禁思考，这是否是一种被反复激活的市场结构幻觉。


在行业内，这样的故事并不鲜见。它们如同反复上演的剧本，只是更换了角色和背景，然而核心逻辑依旧未变……


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