ST四环退市风险加剧，2025年预亏超3000万元

Core Viewpoint - ST Siuhuan (stock code: 000518) is facing delisting risk due to its 2024 financial performance, which has triggered a warning. If the audited financial data for 2025 also fails to meet the required standards, the company's stock may be terminated from listing [1][2]. Recent Events - ST Siuhuan has been placed under delisting risk warning as of January 27, 2026, due to a negative net profit for 2024 and revenue below 300 million yuan. The delisting risk warning will be updated every ten trading days, and investors are advised to monitor subsequent announcements closely [1]. - The stock price of ST Siuhuan has shown a downward trend over the past week (February 6 to February 12, 2026), with a closing price drop from 2.61 yuan to 2.55 yuan, reflecting a cumulative decline of approximately 2.3%. The stock experienced a single-day drop of 1.92% on February 12, with a trading volume of 22.39 million yuan and a turnover rate of 0.85% [1]. Financial Report Analysis - The 2025 performance forecast indicates an expected net loss of 30 million to 40 million yuan, with a non-recurring net profit loss of 33 million to 46 million yuan, and revenue projected between 340 million and 360 million yuan. The primary reasons for the losses include increased sales revenue from subsidiaries and cost control issues, while overall profitability remains under pressure [2]. - The internal control audit for 2024 received a negative opinion, further compounding the company's fundamental challenges alongside the delisting risk [2].