CFLD(SH:600340) Di Yi Cai Jing·2026-01-15 14:49Core Viewpoint - The company, Huaxia Happiness, is facing significant financial difficulties, including a projected large-scale loss for 2025 and potential delisting risks due to negative net assets [3][4]. Group 1: Stock Performance and Trading Activity - Huaxia Happiness disclosed that its stock experienced a cumulative decline of 20% over three consecutive trading days, triggering abnormal trading conditions as per Shanghai Stock Exchange regulations [2]. - The company confirmed that, apart from the previously disclosed major issue regarding creditor applications for pre-restructuring and restructuring, there are no other undisclosed significant matters [2]. Group 2: Financial Forecast and Losses - The company anticipates a net loss attributable to shareholders of between -24 billion and -16 billion yuan for the year 2025, with a net asset value projected to be between -15 billion and -10 billion yuan by year-end [3]. - In 2024, the company also reported losses, with a total profit of -7.432 billion yuan and a net profit of -4.817 billion yuan, but had positive net assets of 4.095 billion yuan [3]. Group 3: Restructuring and Legal Issues - The company is undergoing pre-restructuring, which has been accepted by the Langfang Intermediate Court, but the success of this process remains highly uncertain [4]. - There is an ongoing arbitration case involving the company's controlling shareholder and actual controller, Wang Wenxue, related to a dispute with Ping An Asset Management and Ping An Life Insurance regarding performance compensation [4][5]. Group 4: Performance Guarantee Dispute - The arbitration case concerns performance guarantees tied to the company's financial performance, with Ping An seeking approximately 6.4 billion yuan in compensation and related fees due to unmet profit targets from previous years [5].