每年什么时候确定ST：中文篇

在中国股市中，ST股票是指那些因财务状况异常而被特别处理的股票。那么，每年什么时候会确定哪些股票将被标记为ST呢？

根据中国证监会的规定，上市公司若连续两年出现亏损，或者净资产为负，或者存在其他严重违规行为，就有可能被标记为ST股票。这些规定意味着，每年在上市公司年报披露后，市场会密切关注这些公司的财务状况和经营情况，以判断哪些公司可能被标记为ST股票。

具体来说，每年上市公司年报的披露时间一般在次年的1月至4月之间。因此，在这个时间段内，投资者和市场分析师会密切关注上市公司的年报数据，以及相关的公告和新闻，以获取最新的信息。一旦有公司出现连续两年亏损、净资产为负或存在其他严重违规行为的情况，就有可能被标记为ST股票。

需要注意的是，ST股票的确定并不仅仅依据财务数据，还包括公司的治理结构、信息披露质量等多个方面。因此，投资者在考虑投资ST股票时，需要充分了解公司的整体情况，并谨慎做出决策。

When is ST Determined Each Year? English Version

In the Chinese stock market, ST stocks refer to those that are specially treated due to abnormal financial conditions. So, when are the stocks determined to be marked as ST each year?

According to the regulations of the China Securities Regulatory Commission (CSRC), listed companies that have suffered losses for two consecutive years, have a negative net asset, or have committed other serious violations may be marked as ST stocks. These regulations mean that after the annual reports of listed companies are disclosed each year, the market closely monitors their financial conditions and operating situations to determine which companies may be marked as ST stocks.

Specifically, the disclosure time for annual reports of listed companies generally falls between January and April of the following year. Therefore, during this period, investors and market analysts closely monitor the annual report data of listed companies, as well as relevant announcements and news, to obtain the latest information. Once a company exhibits two consecutive years of losses, a negative net asset, or other serious violations, it may be marked as an ST stock.

It's worth noting that the determination of ST stocks is not solely based on financial data, but also includes various aspects such as the company's governance structure and information disclosure quality. Therefore, investors considering investing in ST stocks need to fully understand the company's overall situation and make cautious decisions.