ST岭南：“岭南转债”无法按期兑付，公司面临多重风险

Core Viewpoint - ST Lingnan announced that "Lingnan Convertible Bonds" cannot be redeemed on time for principal and interest, leading to a downgrade of the company's and the bond's credit rating to C by United Ratings [1] Financial Performance - The company's revenue for 2024 is projected to be 862 million, a year-on-year decline of 59.55%, with a net loss of 984 million, which is a reduction in loss scale by 9.86% compared to the previous year [1] - For the first nine months of 2025, the revenue is expected to be 253 million, reflecting a year-on-year decrease of 68.75%, with a net loss of 206 million, which is a reduction in loss by 23.34% compared to the same period last year [1] Risks and Challenges - There are ongoing risks related to the monetization of pledged assets under the credit enhancement plan, potential delisting of the company's stock, and litigation issues [1] - The company will hold the second bondholders' meeting for "Lingnan Convertible Bonds" on December 29 [1]