The 20 biggest bear stocks in A-share market this week: the worst fell 39%, Lianxiang shares saw 4 limit-downs and 1 limit-up.

This week, the Shanghai Composite Index rose by 0.7%; the Shenzhen Component Index rose by 0.37%, and the ChiNext Index fell by 0.29%. More than 3,400 individual stocks recorded negative weekly gains.

Excluding stocks listed this year, the top 20 declining stocks each fell by over 19%, with four of them coming from the construction and decoration industry.

Among the top 20 bearish stocks, nine were ST stocks. The most bearish stock, *ST Guandian (688287.SH), fell by 39.15% for the week, followed by ST Yaguang (300123.SZ), which dropped by 37.69%.

Excluding ST stocks, among the remaining 11 bearish stocks, Start Group (600734.SH) and Lianxiang Shares (603272.SH) had the highest weekly declines, both falling over 27%.

Dragged down by a performance reversal, Start Group saw its stock price drop by 29.91% for the week. On the evening of April 16, Start Group revised its performance forecast, significantly reducing its 2025 revenue from the original 315 million to 365 million yuan down to 80 million to 100 million yuan, and projected a net loss attributable to the parent company of 120 million to 180 million yuan for the previous year. According to exchange regulations, the stock may be subject to a delisting risk warning.

After hitting the daily limit down for four consecutive trading days from April 20 to 23, Lianxiang Shares hit the daily limit up on April 24, with a weekly decline of 27.81%. The sharp drop in stock price was triggered by a delayed announcement from Lianxiang Shares on the evening of April 19, nearly three months late, titled “2025 Annual Performance Loss Forecast and Apology Notice.” The announcement showed that the company expects a net loss attributable to the parent company of 10.8 million to 15.5 million yuan for 2025, compared to a profit of 10.9 million yuan in the same period of 2024; it also expects a net loss excluding non-recurring gains and losses of 15 million to 18 million yuan, compared to a profit of 8.68 million yuan in the same period of 2024. The company’s stock may be subject to a delisting risk warning after the 2025 annual report is disclosed.

It is worth noting that Aonong Bio fell nearly 20% for the week. On the evening of April 22, Aonong Bio announced that it had received a “Case Filing Notice” from the China Securities Regulatory Commission. Due to the company’s suspected illegal information disclosure, the CSRC decided to file a case for investigation.