HLSY(SZ:000622) Sou Hu Cai Jing·2025-06-23 02:07Core Viewpoint - *ST Hengli is facing delisting due to negative net profit and insufficient revenue, with its stock entering a delisting preparation period starting June 25, 2025 [1][2] Group 1: Company Announcements - *ST Hengli received a notice of administrative penalty and will enter a delisting preparation period due to a negative audited net profit for 2023 and revenue below 100 million yuan [1] - The company has been warned of delisting risk since May 6, 2024, and has failed to disclose a majority of its board's assurance of the 2024 annual report by the legal deadline [1] - The stock will be delisted after a 15-day preparation period, with the delisting effective on the next trading day after the period ends [1] Group 2: Financial Performance - The company has experienced a significant decline in revenue and profitability since 2018, with 2023 revenue reported at only 79.54 million yuan, leading to a delisting risk warning [2] - For the first three quarters of 2024, *ST Hengli's revenue was merely 70.06 million yuan, indicating ongoing financial struggles [2] - Following an asset acquisition, the company reported a surge in revenue exceeding 200 million yuan in Q4 2024, but projected a loss of 33 to 43 million yuan for the year [3] Group 3: Industry Context - The company has attempted to pivot into the lithium battery sector, partnering with Ganfeng Lithium for comprehensive cooperation in the new energy industry chain [2] - The lithium battery industry is experiencing increased competition and overcapacity, leading to many cross-industry entrants facing challenges and withdrawing from the market [3] - A significant number of cross-industry lithium battery ventures have failed since 2023, highlighting the importance of focusing on core business and niche markets for survival [3]