LNGF(SZ:002717) Zhong Guo Zheng Quan Bao·2025-11-04 23:00Core Points - ST Lingnan has been prosecuted for collusion in bidding, with a court date set for October 31, 2025 [3] - The company announced that shareholder Yin Hongwei's 20 million shares (1.10% of total shares) were sold at auction for 36.288 million yuan [5] - As of November 4, the company's stock price closed at 1.93 yuan per share, down 3.02%, with a total market capitalization of approximately 3.5 billion yuan [1][2] Legal Issues - The company is cooperating with law enforcement and the court regarding the collusion in bidding case [3] - The total amount involved in ongoing litigation and arbitration cases is approximately 131 million yuan, which represents 12.28% of the company's latest audited net assets [4] - No single litigation or arbitration case exceeds 10 million yuan or 10% of the company's net assets [4] Financial Performance - For the first three quarters of 2025, the company reported revenue of approximately 253 million yuan, a year-on-year decline of 68.75% [4] - The net profit attributable to shareholders was approximately -206 million yuan, indicating a reduction in losses compared to the previous year [4] Shareholder Actions - Yin Hongwei's shares have faced multiple judicial sales, with a total of approximately 208 million shares frozen and 1.294 billion shares under pending judicial actions [6] - The recent auction of shares indicates ongoing financial distress for the shareholder, which may lead to further judicial disposals [6]