TJT(SZ:002977) Zhong Guo Ji Jin Bao·2025-12-29 22:52Core Viewpoint - Tianjian Technology (stock code: 002977) issued a significant risk warning, indicating that due to adjustments in military product prices, the company expects a negative net profit attributable to shareholders for the fiscal year 2025, with revenue falling below 300 million yuan, potentially leading to a delisting risk warning from the Shenzhen Stock Exchange [1][2]. Financial Performance - The price adjustment affects three product models and has a retrospective accounting impact of up to 11 years, pushing the company's performance to the delisting risk warning threshold set by the Shenzhen Stock Exchange [2]. - In the first half of 2025, the company reported revenue of 67.63 million yuan, a year-on-year decline of 29.26%, and a net profit attributable to shareholders of -6.58 million yuan, compared to 11.17 million yuan in the same period last year [2][3]. - By the third quarter of 2025, the company's revenue further declined to 11.41 million yuan, a year-on-year drop of 71.23%, with a net profit of -18.98 million yuan, showing significant deterioration [3]. Historical Performance Trends - From 2021 to 2024, the company's net profit attributable to shareholders decreased from 111 million yuan to 16 million yuan, indicating a consistent downward trend [5]. - Since its listing in 2020, the company has only exceeded 300 million yuan in revenue in 2022, with other years remaining below this threshold [3][5]. Market Context - Despite the company's struggles, the commercial aerospace sector has seen significant growth, with the sector's stock prices rising by 80.10% as of December 25, 2025, contrasting sharply with Tianjian Technology's performance [5]. - As a commercial aerospace concept stock, Tianjian Technology's share price had risen significantly, achieving four trading limits since November and a year-to-date increase of over 60% [6]. Current Stock Information - As of December 29, 2025, Tianjian Technology's stock price was 43.59 yuan per share, with a total market capitalization of approximately 5.236 billion yuan [7].