QHHD(SH:600243) Shang Hai Zheng Quan Bao·2026-01-29 19:06Core Viewpoint - Qinghai Huading Industrial Co., Ltd. is facing significant challenges, including the resignation of its auditing firm and a projected substantial loss for the fiscal year 2025, which raises concerns about the potential for the company's stock to be delisted from the Shanghai Stock Exchange [2][7][16]. Group 1: Auditor Resignation - On January 28, 2026, the company received a resignation letter from Pengsheng Accounting Firm, citing the heavy workload and resource constraints as reasons for stepping down as the auditor for the 2025 annual financial report [2][4]. - The company had previously appointed Pengsheng as its auditor during a board meeting on December 15, 2025, and this decision was ratified by a shareholders' meeting on December 31, 2025 [3][4]. Group 2: Financial Performance Forecast - The company anticipates a net loss of approximately 70 million yuan for the fiscal year 2025, with a net profit of around -75 million yuan after excluding non-recurring items [9][21]. - Expected revenue for 2025 is projected to be about 336 million yuan, with core revenue (excluding unrelated business income) estimated at 330 million yuan [9][21]. Group 3: Risk of Delisting - The resignation of the auditing firm raises concerns about the company's ability to meet regulatory requirements, potentially leading to delisting if the 2025 annual report does not comply with the Shanghai Stock Exchange's rules [17][22]. - The company has been under delisting risk warnings since April 23, 2025, due to previous financial performance issues, including a net loss of 89.93 million yuan for 2024 [18][22].