Sunwin(SZ:300044) Zheng Quan Shi Bao Wang·2026-01-20 11:09Core Viewpoint - ST Saiwei (300044) is expected to report a net profit loss of 720 million to 1.02 billion yuan for 2025, compared to a loss of 507 million yuan in the previous year, primarily due to litigation and arbitration impacts [1] Financial Performance - The company anticipates a net profit impact of approximately negative 718 million yuan for 2025 due to a lawsuit with Shenzhen Aite Network Technology Co., Ltd [1] - The estimated net assets for the end of 2025 may be negative, with the specific amount subject to audit [1] - The projected equity attributable to shareholders at the end of 2025 is estimated to be between negative 870 million yuan and negative 620 million yuan (unaudited) [1] Regulatory Implications - According to the listing rules, if the audited net assets at the end of the most recent accounting year are negative, the company's stock will be subject to delisting risk warnings [1] - There is a possibility that the company's stock trading will face delisting risk warnings after the disclosure of the 2025 annual report [1]