棒杰股份：法院裁定受理子公司重整申请，存多项风险

Core Viewpoint - The company is undergoing restructuring due to significant financial losses and a court ruling accepting a reorganization application from a bank, indicating potential challenges ahead for its operations and stock performance [1] Financial Performance - In 2024, the company reported a revenue of 628 million, with a net loss of 714 million [1] - For the first three quarters of 2025, the company recorded zero revenue and a net loss of 977 million [1] Shareholder Actions - A major shareholder, Suzhou Qingsong, plans to reduce its holdings by up to 4 million shares, which represents 0.87% of the total share capital [1] Restructuring and Risks - The pre-restructuring work is currently in progress, with expectations of continued losses in 2025, which may lead to a risk warning for stock delisting [1] - The seamless clothing segment may also be adversely affected by the ongoing financial difficulties [1]