Core Viewpoint - *ST WanFang announced that it expects its operating revenue for 2025 to be below 300 million yuan, with either total profit, net profit, or net profit after deducting non-recurring gains and losses being negative, which may lead to the termination of its stock listing due to financial delisting criteria [2][5]. Financial Performance - As of January 13, the company's stock price closed at 4.81 yuan per share, with a decline of 4.94% [2]. - For the first three quarters of 2025, *ST WanFang reported an operating revenue of approximately 176 million yuan, a year-on-year increase of 60.43%. However, it recorded a net loss attributable to shareholders of approximately -8.59 million yuan, compared to a profit of 13.29 million yuan in the same period last year [8]. Audit and Compliance - The company received a qualified audit opinion from Zhongxing Caiguanghua Accounting Firm for its 2024 financial statements, indicating uncertainty regarding the recoverability of investments in Jilin WanFang Bai'ao Biotechnology Co., Ltd. This uncertainty has not been resolved as of the announcement date, posing a risk of receiving a qualified audit opinion for the 2025 financial report [6][5]. - If the company receives a qualified audit opinion for 2025, it may trigger delisting risks under the Shenzhen Stock Exchange's regulations [6]. Corporate Actions - On January 13, *ST WanFang's board of directors approved the termination of the disposal of its remaining 13.67% stake in Beijing Tianyuan Real Estate Development Co., Ltd. The company will continue to hold this stake [7].

Core Viewpoint - *ST WanFang (000638) announced that it expects its operating revenue for 2025 to be below 300 million yuan, with either total profit, net profit, or net profit after deducting non-recurring gains and losses being negative, which may lead to the termination of its stock listing due to financial delisting criteria [1][6][3]. Financial Performance - As of January 13, the company's stock price closed at 4.81 yuan per share, with a decline of 4.94% [2]. - For the first three quarters of 2025, *ST WanFang reported an operating revenue of approximately 176 million yuan, representing a year-on-year increase of 60.43%. However, it recorded a net loss attributable to shareholders of approximately -8.59 million yuan, compared to a profit of 13.29 million yuan in the same period last year [10]. Audit and Compliance - The company received a qualified audit opinion from Zhongxing Caiguanghua Accounting Firm for its 2024 financial statements, indicating significant uncertainty regarding the recoverability of investments in Jilin WanFang Bai'ao Biotechnology Co., Ltd. This uncertainty has not been resolved as of the announcement date, posing a risk of receiving a qualified audit opinion for the 2025 financial report [7][6]. - If the company receives a qualified audit opinion for 2025, it may trigger delisting risks under the Shenzhen Stock Exchange's regulations [7]. Corporate Actions - On January 13, *ST WanFang announced the termination of the disposal of its remaining 13.67% stake in Beijing Tianyuan Real Estate Development Co., Ltd. The company will continue to hold this stake [8][9].

Group 1: Rongbai Technology and CATL Cooperation - Rongbai Technology signed a procurement cooperation agreement with CATL for lithium iron phosphate cathode materials, with a total sales amount exceeding 120 billion yuan [1] - The agreement will supply a total of 3.05 million tons of lithium iron phosphate cathode materials from Q1 2026 to 2031 [1] - The development of solar cells, energy storage technologies, and AI is expected to drive significant growth in the energy storage industry, indicating a large market space for lithium iron phosphate [1] Group 2: Baiwei Storage Profit Forecast - Baiwei Storage expects a net profit of 850 million to 1 billion yuan for 2025, representing a year-on-year increase of 427.19% to 520.22% [1] - The decline in storage prices is anticipated to reach a low point in Q1 2025, followed by a recovery starting in Q2 2025 as key projects are delivered [1] - The company is focusing on high-speed growth in the AI edge sector and enhancing advanced packaging capabilities [1] Group 3: TCL Technology Profit Forecast - TCL Technology forecasts a net profit of 4.21 billion to 4.55 billion yuan for 2025, an increase of 169% to 191% year-on-year [2] - The company is concentrating on three core businesses: semiconductor displays, new energy photovoltaics, and semiconductor materials [2] Group 4: Guizhou Moutai Retail Price Adjustment Mechanism - Guizhou Moutai is implementing a dynamic adjustment mechanism for retail prices to better align with market and consumer trends [3] - The new marketing system aims to be consumer-centric and driven by market demand [3] Group 5: Shanghai Pudong Development Bank Performance - Shanghai Pudong Development Bank reported a net profit of 50.017 billion yuan for 2025, a year-on-year increase of 10.52% [4] - The bank's non-performing loan balance decreased by 11.64 billion yuan, with a non-performing loan ratio of 1.26% [4] Group 6: *ST Wan Fang Financial Status - *ST Wan Fang anticipates a revenue of less than 300 million yuan for 2025, with both net profit and net profit after non-recurring items expected to be negative [8] - The company may face delisting due to financial criteria if these projections are realized [8] Group 7: Performance Forecasts of Other Companies - Haopeng Technology expects a net profit increase of 113.69% to 141.09% for 2025 [9] - Tengyuan Cobalt anticipates a net profit increase of 50.02% to 69.87% for 2025 [9] - Longcable Technology forecasts a net profit increase of 74.07% to 114.24% for 2025 [9] - Dongpeng Beverage expects a net profit increase of 30.46% to 37.97% for 2025 [9] - WoHua Pharmaceutical anticipates a net profit increase of 119.76% to 215.90% for 2025 [9] - Dazhu CNC expects a net profit increase of 161% to 194% for 2025 [9] - Changjiang Electric Power reported a net profit of 34.2 billion yuan for 2025, a year-on-year increase of 5.14% [9] - Chenguang Biotech expects a net profit increase of 272.14% to 330.62% for 2025 [9]

Group 1 - The company *ST WanFang (000638) announced that it expects to have an operating income of less than 300 million yuan in 2025, with both net profits before and after deducting non-recurring gains and losses being negative, which may lead to financial delisting scenarios [1][4] - The company received a qualified audit report from Zhongxing Caiguanghua Accounting Firm for its 2024 financial statements, indicating uncertainty regarding the recoverability of investments in Jilin WanFang Baiao Biotechnology Co., Ltd. [4] - The company is also facing the risk of being forced to delist due to significant legal violations, as it received a notice from the China Securities Regulatory Commission (CSRC) regarding an investigation into information disclosure violations [4][6] Group 2 - In 2024, the company's total profit was 6.4225 million yuan, with a net profit attributable to shareholders of 10.6516 million yuan, and a net profit of -4.6013 million yuan after deducting non-recurring gains and losses. The operating income for 2024 was 391.4703 million yuan, with a net operating income of 227.5138 million yuan [6] - The company operates primarily in agriculture and military industries, utilizing local agricultural resources to acquire corn and rice, and providing precision processing and special welding manufacturing services for the aerospace, naval, and military sectors [5]

Core Viewpoint - *ST WanFang (000638) is at risk of financial delisting due to projected revenue below 300 million yuan and negative net profits for 2025 [1][4] Financial Performance - The company expects a revenue of less than 300 million yuan for 2025, with both pre-tax and post-tax net profits projected 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, and a net profit after deducting non-recurring gains and losses of -4.6013 million yuan [6] - The operating revenue for 2024 was 391.4703 million yuan, with a net operating revenue of 227.5138 million yuan after deductions [6] Audit and Compliance Issues - The company received a qualified audit report from Zhongxing Caiguanghua Accounting Firm for the 2024 financial statements, indicating uncertainty regarding the recoverability of investments in Jilin WanFang Bai'ao Biotechnology Co., Ltd [4] - There is a risk of receiving a qualified audit report for the 2025 financial statements due to unresolved uncertainties [4] - The company faces potential forced delisting due to major legal violations, as it received a notice from the China Securities Regulatory Commission (CSRC) regarding suspected information disclosure violations [4] Business Overview - *ST WanFang primarily operates in agriculture and military industries, utilizing local agricultural resources to acquire and process corn and rice, and providing precision machining and special welding services for the aerospace, naval, and military sectors [5]

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]