ST赛隆审计进展与退市风险引关注

Core Viewpoint - ST Sailong (002898.SZ) is facing multiple critical events in early 2026, including audit progress, performance disclosure, and delisting risks, which will significantly impact its financial stability and stock status [1] Audit Progress - The company will hold a board meeting on February 6, 2026, to discuss the appointment of a new accounting firm to advance the audit of the 2025 annual report, following the resignation of the previous auditor on January 27, 2026, which has created uncertainty in the audit process [2] Performance and Operating Conditions - The company forecasts 2025 revenue between 410 million to 530 million yuan, with net losses estimated between 91 million to 151 million yuan; however, these figures are unaudited and the final data will depend on the audited annual report, which will directly affect the company's ability to meet "delisting removal" conditions [3] Delisting Risk Assessment - The company's stock has been designated as ST due to 2024 performance hitting delisting standards; if the audited revenue for 2025 falls below 300 million yuan or if a non-standard audit opinion is issued, the stock may face termination of listing; as of Q3 2025, revenue was 200 million yuan with a loss of approximately 40.4 million yuan, with significant growth expected in Q4 pending audit confirmation [4] Company Structure and Governance - The resignation of two consecutive audit firms (Zhihong and Guofu Jiaying) between December 2025 and January 2026 has raised concerns about the company's operational stability and financial transparency, prompting three independent directors to urge management to clarify the reasons and expedite the selection of a new firm [5] Business Progress - The company has introduced a new AI server business in 2025, which may contribute to revenue growth; however, the compliance of this revenue with accounting standards (such as commercial substance and customer dependency) is still subject to audit verification, and regulatory bodies have strict scrutiny over such preservation actions [6]