触及财务类退市情形，*ST万方公司股票或被终止上市

Core Viewpoint - The company *ST WanFang announced a significant expected decline in its 2025 revenue and potential delisting due to financial issues, with a projected revenue of less than 300 million yuan and negative profit figures [1][5][6]. Financial Performance - The company expects its 2025 revenue to be below 300 million yuan, with either total profit or net profit, or net profit after excluding non-recurring gains and losses, being negative [5][6]. - For the first three quarters of 2025, *ST WanFang reported approximately 176 million yuan in revenue, a year-on-year increase of 60.43%, but a net loss of about 8.59 million yuan compared to a profit of 13.29 million yuan in the same period last year [9]. Audit and Compliance - The company received a qualified audit opinion from Zhongxing Caiguanghua Accounting Firm for its 2024 financial statements, indicating uncertainty regarding the recoverability of investments in Jilin WanFang Bai'ao Biotechnology Co., Ltd [6][8]. - If the company receives a qualified audit opinion for its 2025 financial statements, it may trigger delisting under the Shenzhen Stock Exchange's regulations [6][8]. Corporate Actions - On January 13, the company announced the termination of the disposal of its remaining 13.67% stake in Beijing Tianyuan Real Estate Development Co., Ltd, deciding to retain this equity [7].