WSBE(SH:600421) Zhong Guo Zheng Quan Bao - Zhong Zheng Wang·2025-11-18 17:14Core Viewpoint - The company is facing significant financial challenges, with a projected negative net profit for 2024 and a risk of delisting due to non-compliance with stock exchange regulations [2][7]. Group 1: Financial Performance - The audited net profit for 2024, excluding non-recurring gains and losses, is expected to be negative, with operating revenue below 300 million yuan after excluding unrelated business income [2][7]. - For the first three quarters of 2025, the company reported operating revenue of 109 million yuan and a net profit attributable to shareholders of -2.1294 million yuan, with a net profit of -2.5239 million yuan after excluding non-recurring gains and losses (unaudited) [2][7]. Group 2: Regulatory Compliance - The company is at risk of being flagged for delisting, with the stock set to receive a warning on April 29, 2025, due to the financial conditions outlined in the Shanghai Stock Exchange rules [2][7]. - If the company encounters any of the conditions specified in the stock exchange regulations in the second year of being flagged, it may face financial delisting [2][7]. Group 3: Share Transfer Activity - Hainan Bocheng Huineng Technology Center (Limited Partnership) is in the process of acquiring a total of 25.01% of shares from Zhejiang Hengshun Investment Co., Ltd. and Shanghai Tianji Investment Co., Ltd. through a transfer agreement, but the completion of this transaction remains uncertain [2][6]. Group 4: Market Risks - The company's stock experienced consecutive price increases on November 14 and 17, 2025, indicating significant short-term volatility, prompting a reminder for investors to be cautious [3][5]. - The company emphasizes the importance of understanding market risks and encourages rational investment decisions [5][8]. Group 5: Disclosure and Communication - The company assures that there are no undisclosed significant matters affecting stock price fluctuations and that all relevant information will be disclosed through designated media [4][10].