Core Viewpoint - *ST WanFang may face financial delisting due to projected revenue and net profit figures for 2025 indicating significant financial distress [1][4][5] Financial Performance - The company expects 2025 revenue to be less than 300 million yuan and both net profits before and after non-recurring items to be negative [1] - In 2024, the total profit was 6.4225 million yuan, with a net profit attributable to shareholders of 10.6516 million yuan, but a net profit of -4.6013 million yuan after deducting non-recurring gains and losses [6] Audit and Compliance Issues - The company received a qualified audit opinion from Zhongxing Caiguanghua Accounting Firm regarding the recoverability of investments in Jilin WanFang Bai'ao Biotechnology Co., Ltd., indicating significant uncertainty [4] - As of the latest announcement, the uncertainty regarding the audit opinion has not been resolved, and there is a risk of receiving a qualified audit report for the 2025 financial statements [4] Regulatory Actions - The company is under investigation by the China Securities Regulatory Commission (CSRC) for suspected violations of information disclosure, which could lead to mandatory delisting if found guilty [5] - The CSRC issued a notice of investigation on July 25, 2025, but the investigation is still ongoing, and no conclusive opinions or decisions have been made yet [5] Business Overview - *ST WanFang primarily operates in agriculture and military industries, utilizing local agricultural resources to process corn and rice, and providing precision machining and special welding services for the aerospace, naval, and military sectors [5]

北京商报讯（记者 马换换 王蔓蕾）1月13日晚间，*ST万方（000638）披露公告称，公司预计2025年度 营业收入不足3亿元且扣非前后净利润均为负，可能触及财务类终止上市情形。 另外，*ST万方表示，2024年4月28日，中兴财光华会计师事务所（特殊普通合伙）对公司2024年度财 务报表出具了带强调事项段的保留意见审计报告，被出具保留意见审计报告的事项为公司对吉林万方百 奥生物科技有限公司的其他权益工具投资的可收回性存在不确定性。 截至公告披露日，上述不确定性情况尚未消除，公司2025年度审计报告仍存在被出具保留意见审计报告 的风险。若公司2025年度被出具保留意见审计报告，根据《深圳交易所股票上市规则》第9.3.12规定， 上市公司因触及《股票上市规则》第9.3.1条第一款情形，其股票交易被实施退市风险警示后，实际触及 退市风险警示情形相应年度次一年度出现财务会计报告被出具保留意见、无法表示意见或者否定意见的 审计报告的情况，其股票将被终止上市交易。 公告显示，经公司财务部门初步测算结果，预计公司2025年度营业收入低于3亿元，且利润总额、净利 润或者扣除非经常性损益后的净利润孰低者为负值。根据相关规定 ...

Core Viewpoint - *ST Wanfang (000638) experienced a significant decline in stock price, closing at the daily limit down after a previous trading day of hitting the upper limit [1][2] Financial Performance - The company anticipates a revenue of less than 300 million CNY for the fiscal year 2025, with total profit, net profit, or net profit after deducting non-recurring gains and losses expected to be negative [3] - Due to these financial projections, *ST Wanfang's stock may face delisting as it meets the criteria for financial delisting [3] Audit and Regulatory Issues - There is a significant uncertainty regarding the ability to eliminate the issues raised in the 2024 audit report, which may lead to a qualified opinion in the 2025 audit report, further risking delisting [3] - The company is under investigation by the China Securities Regulatory Commission (CSRC) for suspected violations of information disclosure laws, with no conclusive opinions or decisions received as of the announcement date [3] Corporate Actions - The company has decided to terminate the disposal of its remaining 13.6667% stake in Beijing Tianyuan Real Estate Development Co., Ltd., after a lengthy two-and-a-half-year process [4] - Investors who purchased *ST Wanfang shares between January 25, 2025, and April 18, 2025, may have opportunities for compensation if they hold the shares until the closing on April 18, 2025 [4]

Core Viewpoint - *ST WanFang (000638) is expected to face financial difficulties in 2025, with projected operating revenue below 300 million yuan and potential negative profit figures, which may lead to delisting from the Shenzhen Stock Exchange due to financial criteria violations [1][2] Financial Performance - The company anticipates that its operating revenue for 2025 will be less than 300 million yuan [1] - There is a risk that the total profit, net profit, or net profit after deducting non-recurring gains and losses will be negative for the same year [1] Audit Report Concerns - Zhongxing Caiguanghua Accounting Firm issued a qualified audit report for the company's 2024 financial statements, highlighting uncertainties regarding the recoverability of investments in Jilin WanFang Baiao Biotechnology Co., Ltd [1] - As of the announcement date, the uncertainty regarding the company's financial situation has not been resolved, and there remains a risk of receiving a qualified audit report for 2025 [2] Delisting Risk - If the company receives a qualified audit report for 2025, it may trigger delisting warnings and ultimately lead to termination of stock trading under the Shenzhen Stock Exchange rules [2]

Core Viewpoint - *ST Wanfang (000638.SZ) is expected to face financial difficulties in 2025, with projected operating revenue below 300 million yuan and negative profit metrics, which may lead to delisting from the Shenzhen Stock Exchange due to financial criteria violations [1][2] Financial Projections - The company anticipates that its operating revenue for 2025 will be less than 300 million yuan [1] - Profit total, net profit, or net profit after deducting non-recurring gains and losses is expected to be negative [1] Audit Report Concerns - Zhongxing Caiguanghua Accounting Firm issued a qualified audit report for the company's 2024 financial statements, highlighting uncertainty regarding the recoverability of investments in Jilin Wanfang Baiao Biotechnology Co., Ltd [1] - As of the announcement date, the uncertainty regarding the company's financial situation has not been resolved, and there remains a risk of receiving a qualified audit report for 2025 [2] Delisting Risks - If a qualified audit report is issued for 2025, the company may face delisting risks as per the Shenzhen Stock Exchange regulations [2] - The company’s stock could be subject to delisting if it triggers financial criteria violations in subsequent years following a qualified audit report [2]

Group 1 - The core point of the article is that *ST WanFang (000638.SZ) has decided to terminate the disposal of its remaining 13.6667% stake in Beijing Tianyuan Real Estate Development Co., Ltd. [1] - The decision was made during the seventh meeting of the tenth board of directors held on January 13, 2026 [1] - After the termination of this transaction, the company will continue to hold the 13.6667% stake in Beijing Tianyuan [1]

格隆汇1月13日丨*ST万方(000638.SZ)公布，2026年1月13日，公司召开第十届董事会第七次会议，审议 通过了《关于终止处置北京天源房地产开发有限公司剩余13.6667%股权的议案》。经审议，同意终止 本次交易，本次交易完成后，公司仍将继续持有北京天源13.6667%的股权。 ...

每经AI快讯，1月13日，*ST万方(000638.SZ)公告称，预计2025年度营业收入不足3亿元且扣非前后净利 润均为负，可能触及财务类终止上市情形。经公司财务部门初步测算结果，预计公司2025年度营业收入 低于3亿元，且利润总额、净利润或者扣除非经常性损益后的净利润孰低者为负值。根据《深圳证券交 易所股票上市规则》的相关规定，2025年度经审计营业收入低于3亿元且利润总额、净利润或者扣除非 经常性损益后的净利润孰低者为负值的，公司股票将因触及财务类退市情形被终止上市。 （文章来源：每日经济新闻） ...

2024年4月28日，中兴财光华会计师事务所（特殊普通合伙）对公司2024年度财务报表出具了带强调事 项段的保留意见审计报告（中兴财光华审会字（2025）第207002号），被出具保留意见审计报告的事项 为公司对吉林万方百奥生物科技有限公司的其他权益工具投资的可收回性存在不确定性。截至本公告披 露日，上述不确定性情况尚未消除，公司2025年度审计报告仍存在被出具保留意见审计报告的风险。若 公司2025年度被出具保留意见审计报告，根据《深圳交易所股票上市规则》第9.3.12规定，上市公司因 触及《股票上市规则》第9.3.1条第一款情形，其股票交易被实施退市风险警示后，实际触及退市风险警 示情形相应年度次一年度出现财务会计报告被出具保留意见、无法表示意见或者否定意见的审计报告的 情况，其股票将被终止上市交易。 格隆汇1月13日丨*ST万方(000638.SZ)公布，经公司财务部门初步测算结果，预计公司2025年度营业收 入低于3亿元，且利润总额、净利润或者扣除非经常性损益后的净利润孰低者为负值。根据《深圳证券 交易所股票上市规则》的相关规定，2025年度经审计营业收入低于3亿元且利润总额、净利润或者扣除 非经常性 ...

证券代码：000638 证券简称：*ST万方 公告编号：2026-009 2、2023 年 9 月 26 日，公司召开了第九届董事会第五十四次会议，会议审 议通过了《关于出售全资子公司的进展暨签订<补充协议>的议案》。公司董事会 一致同意，调整支付方式以及相关交易等约定，由北京栢裕在协议签署后的 90 日内，将 5,400 万元支付至公司指定账户，并在 2024 年 3 月 31 日前把剩余交易 价款 3,600 万元支付至公司指定账户。 3、2024 年 4 月 12 日，公司召开第九届董事会第五十七次会议，审议通过 了《关于出售全资子公司的进展暨签订<补充协议>的议案》，公司董事会一致同 意公司与北京天源、北京栢裕签署《股权转让协议之补充协议二》，北京栢裕将 于 2024 年 12 月 31 日前向公司支付完毕剩余全部股权转让款。 4、2024 年 12 月 11 日，公司召开第九届董事会第六十六次会议，审议通过 了《关于出售全资子公司的进展暨签订<补充协议>的议案》，公司董事会一致同 意公司与北京天源、北京栢裕签署《股权转让协议之补充协议三》，北京栢裕将 于 2025 年 12 月 31 日前向公司支付 ...