鄂股观察丨逸飞激光被实施ST，内控缺陷成焦点

Core Viewpoint - ST Yifei's stock price experienced a significant drop after resuming trading, attributed to internal control issues highlighted in the audit report by Lixin Accounting Firm, which raised concerns about the company's financial management and related party transactions [1][2]. Financial Performance - For the year 2024, ST Yifei reported revenue of 692 million yuan, a year-on-year decline of 0.74%, and a net profit of 24 million yuan, down 75.94% year-on-year. The net profit after deducting non-recurring items was 9.41 million yuan, a decrease of 87.57% [2]. - In the first quarter of 2025, the company achieved revenue of 236 million yuan, a year-on-year increase of 97.61%, while the net profit attributable to shareholders was 9.08 million yuan, down 42.7% [2]. Internal Control Issues - The audit report indicated significant deficiencies in ST Yifei's internal controls related to fundraising management and revenue recognition, leading to a negative opinion on the company's internal controls for the year 2024 [2][3]. - The company has initiated a comprehensive self-inspection and rectification process, revising and optimizing its fundraising management, internal audit, and financial reporting management systems [2]. Market Position and Future Outlook - ST Yifei has launched several new products in the new energy battery equipment sector, including high-speed assembly lines for square batteries and high-speed magnetic suspension cylindrical battery assembly lines [3]. - The company aims to strengthen its position in cylindrical all-tab battery equipment and expand into emerging fields such as solid-state batteries and sodium-ion batteries, while also improving internal controls and corporate governance [3].