内控整改达标 ST百灵“摘帽

Core Viewpoint - Guizhou BaiLing (ST BaiLing) has completed internal control rectification and is applying to remove the risk warning label after a year of efforts, aiming for a turnaround in its financial performance [2][6]. Internal Control and Compliance - The company has made significant improvements in its internal control and compliance systems, establishing a compliance management department and enhancing training for staff to prevent future violations [5][6]. - An audit report confirmed that ST BaiLing maintained effective internal control over financial reporting in all significant aspects [6]. Financial Performance - In 2024, ST BaiLing reported revenue of 3.825 billion yuan, a decrease of 10.26% year-on-year, while net profit attributable to shareholders was 33.62 million yuan, an increase of 108.11% [7]. - Despite appearing to turn a profit, the company's net profit after excluding non-recurring items was -82.44 million yuan, indicating ongoing financial challenges [7]. Market Challenges - The company faced declining demand for its products due to a public health event in late 2023, which led to overstocking of certain medications, resulting in reduced sales in 2024 [7][8]. - In the first quarter of 2025, revenue dropped to 761 million yuan, a decline of 42.93% year-on-year, with a significant decrease in net profit [7][8]. Accounts Receivable and Risk Management - As of the end of the first quarter of 2025, ST BaiLing's accounts receivable reached 1.843 billion yuan, a 15.51% increase from the beginning of the year [8]. - The company is actively managing credit risks by conducting assessments of customers and monitoring receivables to mitigate potential bad debt risks [8].