ALLWIN TELECOMMUNICATION CO.LTD(SZ:002231) Xin Lang Cai Jing·2025-10-27 01:55Core Viewpoint - *ST Aowei is facing significant operational challenges, leading to a sharp decline in stock price and heightened risk of delisting due to severe financial losses and regulatory issues [2] Group 1: Financial Performance - The company reported a massive loss of 89.06 million yuan in the first half of 2025, a year-on-year increase of 1437%, with revenue declining by 88.81% [2] - The core business of metal products, which accounts for 88% of revenue, has ceased operations and is not expected to resume for at least three months [2] - The subsidiary, Wuxi Donghexin, also incurred a loss of 70.83 million yuan in the same period, indicating a severe contraction in overall business [2] Group 2: Regulatory and Compliance Issues - The company is under a delisting risk warning and has engaged in illegal guarantees amounting to 50 million yuan, which represents 18.55% of its net assets [2] - There are also significant non-operational fund usages by related parties totaling 187 million yuan, accounting for 69.04% of net assets, alongside over 30 million yuan in unresolved litigation [2] Group 3: Market Sentiment and Future Outlook - The company's ESG rating has dropped to C+ in Q3 2025, affecting its market image and long-term investment appeal, potentially leading to reduced investment from ESG-focused investors [2] - Concerns are mounting ahead of the Q3 earnings report scheduled for October 31, with fears that poor performance could further pressure the stock price [2] - Despite previous institutional buying, the lack of fundamental support raises doubts about the sustainability of the stock price, which is now vulnerable to technical corrections [2]