证券代码：603789 证券简称：*ST 星农 公告编号：2026-008 星光农机股份有限公司 股票可能被终止上市的第二次风险提示公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 星光农机股份有限公司（以下简称"公司"）于 2025 年 4 月 30 日披露 了《关于实施退市风险警示暨停牌的公告》（公告编号：2025-035），因公司 2024 年度经审计的扣除非经常性损益前后的净利润低者为负值，且扣除与主营 业务无关的业务收入和不具备商业实质的收入后的营业收入低于 3 亿元，公司股 票于 2025 年 5 月 6 日起被实施退市风险警示。若公司 2025 年年度报告出现《上 海证券交易所股票上市规则》第 9.3.7 条规定的情形，公司股票可能被上海证券 交易所终止上市，敬请广大投资者注意投资风险。 公司于2025年4月30日披露了《关于实施退市风险警示暨停牌的公告》（公 告编号：2025-035），因公司2024年度经审计的扣除非经常性损益前后的净利润 低者为负值，且扣除与主营业务无关的业务收入和不具备 ...

证券代码：603789 证券简称：*ST 星农 公告编号：2026-007 星光农机股份有限公司 关于完成工商变更登记的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 星光农机股份有限公司（以下简称"公司"）于2025年4月28日召开第五届董 事会第十次会议，审议通过了《关于回购注销激励对象已获授但尚未解除限售的 部分限制性股票的议案》，鉴于《星光农机股份有限公司2023年限制性股票激励 计划》激励对象中2人因个人原因主动离职，不再符合激励对象条件，同时，首 次及预留授予限制性股票的第二个解除限售期公司层面业绩考核未达标，公司董 事会同意对所有激励对象（即首次授予和预留授予限制性股票的激励对象）已获 授但尚未解除限售的合计5,236,800股限制性股票进行回购注销。根据公司2023 年第二次临时股东大会的授权，本次回购注销部分限制性股票已授权董事会办理。 具体内容详见公司于2025年4月30日在上海证券交易所网站 (www.sse.com.cn)披 露的相关公告。 2026年2月3日，公司在上海证券交易所网站 (www. ...

Core Viewpoint - The A-share market is experiencing a critical phase where companies are engaging in various actions to avoid delisting due to financial indicators, particularly focusing on achieving revenue above 300 million yuan or turning losses into profits, as well as correcting negative net assets [1][2]. Group 1: Financial Indicators and Delisting Risks - The new "National Nine Articles" implemented in January 2025 raised the revenue threshold for delisting from 100 million yuan to 300 million yuan, allowing companies that can exceed this revenue to avoid delisting risks [5]. - Companies like *ST Jinglun and *ST Dongjing are attempting to cross the delisting threshold through various strategies, including revenue boosts, mergers, and asset disposals [2][6]. Group 2: Company Strategies for Survival - *ST Jinglun is trying to incorporate new business lines into its main revenue streams, but faced challenges with revenue recognition for its new server business, leading to a significant reduction in reported revenue [7][8]. - *ST Dongjing reported an expected revenue increase to between 340 million and 370 million yuan, aided by new business ventures, although it still anticipates losses [9][10]. Group 3: Mergers and Acquisitions - Mergers and acquisitions are being utilized by companies like *ST Huazhong and *ST Huike to surpass financial thresholds, with *ST Huazhong projecting a turnaround in profitability due to its acquisition of a controlling stake in Zhejiang Zhuangchen [12][13]. - *ST Huike's acquisition of a 51% stake in Nanjing Yizhengtong is also noted as a strategy to meet revenue requirements, despite market skepticism regarding its financial health [13]. Group 4: Asset Restructuring and Debt Relief - Several companies are opting for asset disposals to improve their financial standings, with *ST Zhongdi successfully turning its net assets positive through significant asset restructuring [16][17]. - Companies like *ST Nanzhi and *ST Lvkang have also engaged in asset sales to achieve similar outcomes, with *ST Nanzhi transferring real estate assets to improve its equity position [17]. Group 5: Bankruptcy and Debt Waivers - Bankruptcy restructuring has emerged as a key strategy for survival, with companies like *ST Dongyi successfully completing their restructuring plans and improving their financial positions [18]. - Debt waivers from major shareholders or creditors have been reported by several companies, allowing them to quickly enhance their net asset status [18].

Core Viewpoint - The A-share market is witnessing a critical "survival race" as companies face delisting risks due to financial indicators set by the new "National Nine Articles," which include negative profit totals, net profits, and insufficient revenue [2][4]. Group 1: Companies Facing Delisting Risks - *ST Jinglun is experiencing a severe decline, with nine consecutive trading days of limit-down, and a significant drop in trading volume to less than 5 million yuan, as it faces delisting expectations [2]. - Other companies like *ST Dongjing and *ST Huarong are attempting various strategies such as asset restructuring and debt waivers to avoid delisting, focusing on key financial indicators like revenue exceeding 300 million yuan or turning net assets positive [2][4]. Group 2: Financial Performance and Strategies - The new regulations increased the revenue threshold for delisting from 100 million yuan to 300 million yuan, prompting companies to strive for this new target to avoid delisting risks [4]. - *ST Jinglun is attempting to incorporate new business lines into its main revenue stream, while *ST Dongjing is projecting a revenue increase to between 340 million and 370 million yuan, surpassing the 300 million yuan threshold [6][8]. Group 3: Specific Company Actions - *ST Jinglun's revenue forecast for 2025 is approximately 338 million yuan, but after excluding non-core business income, the adjusted revenue is only about 86.22 million yuan, indicating a failure to turn a profit [6][7]. - *ST Huarong expects to achieve a net profit of between 6.5 million and 8 million yuan for 2025, aided by a 30% increase in revenue from its subsidiary, which it acquired a larger stake in [10]. Group 4: Market Reactions and Future Outlook - The market is closely monitoring companies that have narrowly met the revenue thresholds, with concerns about the sustainability of these figures and the potential for revenue adjustments post-audit [11][12]. - Companies are increasingly resorting to mergers and acquisitions as a strategy to enhance their financial performance and meet the new revenue requirements [10][15].

登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：603789 证券简称：*ST星农 公告编号：2026-006 星光农机股份有限公司 关于股权激励限制性股票回购注销实施公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容 的真实性、准确性和完整性承担法律责任。 重要内容提示： ● 回购注销原因：根据星光农机股份有限公司（以下简称"公司"）《星光农机股份有限公司2023年限制 性股票激励计划》（以下简称"本次激励计划"或"《激励计划》"）的相关规定，本次激励计划首次授予 限制性股票的2名激励对象因个人原因已经离职不再符合激励对象条件，同时，首次及预留授予限制性 股票的第二个解除限售期公司层面业绩考核未达标，公司拟对已获授但尚未解除限售的合计5,236,800股 限制性股票进行回购注销。 ● 本次注销股份的有关情况 ■ 一、本次限制性股票回购注销的决策与信息披露 综上，鉴于2名激励对象离职不再符合激励对象资格及本次激励计划首次及预留部分第二个解除限售期 公司层面业绩考核未达标，公司将对该部分激励对象已获授但尚未解除限售的共计5,236,800股限制性股 票进 ...

上海市通力律师事务所 关于星光农机股份有限公司 2023 年限制性股票激励计划回购注销部分限制性股票实施情况 的法律意见书 致:星光农机股份有限公司 敬启者: 上海市通力律师事务所(以下简称"本所")受星光农机股份有限公司(以下简称"星光 农机"或"公司")委托,指派蔡若思律师、刘禹萧律师(以下简称"本所律师")作为公司特 聘专项法律顾问,根据《中华人民共和国公司法》(以下简称"《公司法》")、《中华人民共 和国证券法》(以下简称"《证券法》")、中国证券监督管理委员会发布的《上市公司股权激 励管理办法》(以下简称"《管理办法》")等法律、行政法规和其他规范性文件(以下简称"法 律、法规和规范性文件")和《星光农机股份有限公司 2023年限制性股票激励计划》(以下 简称"《2023年激励计划》")的有关规定,就公司 2023年限制性股票激励计划(以下简称"本 次激励计划")回购注销部分限制性股票(以下简称"本次回购注销")有关事项,出具本法律 意见书。 为出具本法律意见书,本所律师已对公司向本所提交的有关文件、资料进行了必要的核 查和验证。 本所在出具本法律意见书之前已得到公司如下保证:(1)其已向本所提供了 ...

证券代码：603789 证券简称：*ST 星农 公告编号：2026-006 星光农机股份有限公司 关于股权激励限制性股票回购注销实施公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者 重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： | 回购股份数量（股） | 注销股份数量（股） | 注销日期 | | | | | --- | --- | --- | --- | --- | --- | | 5,236,800 | 5,236,800 | 年 月 2026 | 2 | 5 | 日 | 一、本次限制性股票回购注销的决策与信息披露 2025 年 4 月 28 日召开第五届董事会第十次会议和第五届监事会第八次会议，审 议通过了《关于回购注销激励对象已获授但尚未解除限售的部分限制性股票的议案》。 该事项已得到公司 2023 年第二次临时股东大会的授权，无需提交股东大会审议。上 海市通力律师事务所对此事项出具了相应的法律意见书。具体内容详见公司于 2025 年 4 月 30 日在上海证券交易所网站（www.sse.com.cn）披露的《关于回购注销激励 对象已获授但尚未解 ...

截至2026年1月30日收盘，*ST星农(603789)报收于5.82元，下跌0.17%，换手率1.52%，成交量3.96万 手，成交额2297.65万元。 当日关注点 交易信息汇总资金流向 1月30日主力资金净流入119.96万元，占总成交额5.22%；游资资金净流出53.4万元，占总成交额 2.32%；散户资金净流出66.56万元，占总成交额2.9%。 业绩披露要点业绩预告 星光农机股份有限公司预计2025年年度实现利润总额-10,000万元到-7,000万元，归属于母公司所有者的 净利润为-13,500万元到-9,000万元，扣除非经常性损益后的净利润为-22,000万元到-15,000万元。预计营 业收入为35,000万元到40,000万元，扣除与主营业务无关的收入后为31,000万元到35,000万元，预计2025 年末净资产为10,000万元到15,000万元。公司因2024年度财务指标触及退市风险警示情形，股票已被实 施*ST。2025年9月公司收到证监会立案告知书，目前尚未有调查结论。审计工作仍在进行中，最终审 计意见尚未形成。 *ST星农股票可能被终止上市的风险提示公告 星光农机股份有限公司 ...

Core Viewpoint - *ST Xingnong is facing significant financial challenges, with projected losses for 2025 and potential delisting risks due to financial indicators [1][2][3] Financial Performance Summary - The company expects a net profit loss of between 1.5 billion to 2.2 billion yuan for the year 2025, with total revenue projected to be between 3.5 billion to 4 billion yuan [1][5] - The anticipated net profit attributable to the parent company is expected to be between 900 million to 1.35 billion yuan, with a net profit loss after deducting non-recurring gains and losses estimated at 1.5 billion to 2.2 billion yuan [2][3] - The expected operating revenue is projected to be between 3.1 billion to 3.5 billion yuan after excluding non-main business income [1][2] Stock and Market Position - As of January 30, 2026, *ST Xingnong's stock closed at 5.82 yuan, reflecting a 4.68% increase from the previous week, with a total market capitalization of 1.574 billion yuan [1] - The company ranks last in the specialized equipment sector and is positioned 5163 out of 5184 in the A-share market [1] Regulatory and Audit Status - The company is under a delisting risk warning due to financial indicators for the fiscal year 2024, and its stock may be terminated from listing if the 2025 annual report triggers specific regulations [2][3] - The company is currently under investigation by the China Securities Regulatory Commission, and the final audit opinion is still pending [2][3]

Core Viewpoint - The company, Xingguang Agricultural Machinery Co., Ltd., is at risk of being delisted due to negative financial performance, specifically a projected net loss for the fiscal year 2025 [2][3][11]. Group 1: Reasons for Potential Delisting - The company was placed under delisting risk warning on May 6, 2025, due to its audited net profit being negative and its operating revenue falling below 300 million yuan after excluding non-core business income [2][3]. - According to the Shanghai Stock Exchange Listing Rules, the company may face delisting if its 2025 annual report meets certain negative criteria, including receiving a qualified or adverse audit opinion [3][21]. - The company has issued its first risk warning announcement regarding potential delisting, urging investors to be cautious [5]. Group 2: Financial Performance Forecast - Preliminary estimates indicate that the company expects a total profit loss of between 70 million yuan and 100 million yuan for 2025, with a net profit attributable to shareholders projected to be between -135 million yuan and -90 million yuan [7][11]. - The expected operating revenue for 2025 is estimated to be between 350 million yuan and 400 million yuan, with core business revenue projected to be between 310 million yuan and 350 million yuan [7][14]. - The anticipated net assets at the end of 2025 are expected to range from 100 million yuan to 150 million yuan [7][14]. Group 3: Historical Financial Context - In the previous year, the company reported a total profit loss of 168.39 million yuan and a net profit loss attributable to shareholders of 174.64 million yuan [16]. - The operating revenue for the previous year was 269.39 million yuan, with core business revenue at 256.37 million yuan [17]. Group 4: Business Challenges - The company has faced high comprehensive costs, particularly in the agricultural machinery sector, which has been affected by industry fluctuations and market competition [19]. - The introduction of new business segments has not yet compensated for losses in the agricultural machinery sector, leading to overall financial losses [19].