ST新元上市10周年：累计亏损扩大，市值较峰值蒸发近九成

Core Viewpoint - ST XinYuan has experienced significant fluctuations in its growth trajectory since its listing in June 2015, with a current market value of 880 million yuan, down from a peak market value of 8.217 billion yuan, indicating a severe decline and ongoing operational challenges leading to potential delisting risks [1][7]. Business Overview - The main business of ST XinYuan focuses on industrial intelligent material conveying and complete solutions for batching, integrating design, research and development, equipment manufacturing, system integration, and sales services [3]. - Core products include intelligent conveying and batching equipment, such as auxiliary systems for internal mixers, pneumatic conveying systems, and small material batching weighing systems [3]. Financial Performance - In 2015, the company achieved a net profit attributable to shareholders of 25 million yuan, but by the latest complete fiscal year of 2024, it reported a net loss of 442 million yuan, representing a cumulative profit decline of 1850.12% over the decade [3]. - The company has recorded losses in 5 out of the 10 years since its listing, with only 4 years of profit, indicating a 40% profit growth rate [3]. - Revenue has significantly decreased from 443 million yuan in 2020 to 131 million yuan in 2024, reflecting a notable contraction in business operations [4]. - The net loss has worsened from 371 million yuan in 2020 to 442 million yuan in 2024, highlighting a severe deterioration in profitability [5]. Market Value Changes - The peak market value of ST XinYuan reached 8.217 billion yuan on October 22, 2021, with a stock price of 30.82 yuan, but as of June 10, the stock price dropped to 3.2 yuan, resulting in a market value of 880 million yuan, a decrease of 7.336 billion yuan, or 89.28% from its peak [7].