Core Viewpoint - The company *ST Chuntian (Qinghai Chuntian) has disclosed a performance forecast indicating a significant expected loss for 2025, raising concerns about its financial stability and potential delisting risk [2][3]. Financial Indicators - For 2025, *ST Chuntian anticipates a net profit loss ranging from 44 million to 59.5 million yuan, with projected revenue between 342.7 million and 371.4 million yuan, and a revenue after deductions expected to be between 338.3 million and 367 million yuan [2]. - The company must either achieve profitability or ensure that its revenue after deductions remains above 300 million yuan to avoid delisting [3]. Audit Opinions - The auditing firm Zhengdan Zhiyuan has not yet provided a definitive opinion on the company's performance forecast, indicating uncertainty regarding the revenue figures presented [3]. - Without a clean audit opinion, *ST Chuntian remains at risk of being delisted, as the audit firm highlighted potential issues with the recoverability of a loan converted from an investment [4]. Related Company Information - *ST Chuntian is involved with Yibin Tinghua Wine Trade Co., which is a subsidiary of Yibin Tinghua Wine Industry Development Co., and is responsible for selling Tinghua wine produced by the latter [5]. - As of September 30, 2025, *ST Chuntian had a prepaid balance of approximately 140.18 million yuan and an investment prepayment of 100 million yuan to Yibin Tinghua, with risks of impairment due to potential non-recovery of these amounts [5].
卖听花酒的青海春天称收入达标了 审计方尚未明确意见