资产负债率超94%，银宝山新获控股股东“输血”

Group 1 - The company Shenzhen Yinbao Shanjin Technology Co., Ltd. announced a loan of up to RMB 100 million from its controlling shareholder Shanghai Dongxing Investment Holding Development Co., Ltd. to support business development and improve financing efficiency [1][2] - As of the announcement date, the company has received RMB 50 million of the loan, which is interest-free and does not constitute a major asset restructuring according to relevant regulations [2] - The company has been experiencing continuous losses for six years from 2019 to 2024, with a reported revenue of approximately RMB 1.829 billion for the first three quarters of 2025, an increase of 8.98% year-on-year [2][3] Group 2 - The company's total assets as of September 30, 2025, amounted to RMB 3.634 billion, with total liabilities of RMB 3.438 billion, resulting in a high debt-to-asset ratio of 94.60% [3] - The company has seen an increase in accounts receivable, which reached RMB 451 million, a year-on-year growth of 23.24% [3] - The stock price of Yinbao Shanjin has decreased by 8.43% over the year, closing at RMB 8.47 per share on December 23, with a total market capitalization of RMB 4.198 billion [3]