Bauing Decoration(SZ:002047) Xin Lang Cai Jing·2025-11-06 11:37Core Viewpoint - The stock of *ST Baoying experienced abnormal fluctuations with a cumulative closing price increase deviation exceeding 12% over three consecutive trading days from November 4 to 6 [1] Financial Performance - For the first three quarters of 2025, the company reported revenue of 515.08 million yuan, a year-on-year decrease of 65.79% [1] - The net profit for the same period was -33.75 million yuan, reflecting a year-on-year reduction in losses of 92.21% [1] - The owner's equity stood at -31.90 million yuan, a decrease of 4.21 million yuan compared to the end of the previous year [1] Listing Risk - If the owner's equity does not turn positive by year-end, the company's stock will face delisting [1] Control Change and Business Development - There are significant uncertainties regarding the implementation of control change matters [1] - The plan to establish a subsidiary in the high-end optocoupler field is still in the preparatory stage, presenting various risks [1]