Zheng Quan Shi Bao·2026-01-15 11:03Core Viewpoint - *ST Aowei is facing significant financial distress, with its stock price and market capitalization falling below critical thresholds, leading to potential delisting risks from the Shenzhen Stock Exchange. Financial Performance - In 2024, *ST Aowei reported an operating income of 291 million yuan and a net loss attributable to shareholders of 46.11 million yuan, with a net loss of 58.37 million yuan after excluding non-recurring items [2] - For the first nine months of 2025, the company achieved an operating income of 34.02 million yuan, with a net loss of 188 million yuan and a net loss of 168 million yuan after excluding non-recurring items [2] Stock Performance and Delisting Risks - As of January 15, 2026, *ST Aowei's stock closed at 0.99 yuan per share, with a total market capitalization of 343 million yuan, indicating that it has been below the 500 million yuan threshold for ten consecutive trading days, which poses a risk of delisting [1][2] - The company has issued multiple risk warnings regarding the potential for its stock to be delisted due to its price falling below par value and its market capitalization being below the required threshold [1][2] Corporate Governance and Financial Obligations - *ST Aowei has been under scrutiny from the Liaoning Securities Regulatory Bureau, which mandated the return of misappropriated funds within six months, but the second-largest shareholder has failed to comply fully with this directive [3] - As of December 17, 2025, the second-largest shareholder has only repaid 60.045 million yuan of the total 189 million yuan owed, leading to further legal actions against them for the recovery of outstanding debts [3][5]