ST数源面临退市风险，2025年预亏超2.9亿

Group 1 - The core viewpoint is that ST Shuyuan is facing a delisting risk warning due to an expected net profit loss of 290 million to 390 million yuan for 2025, primarily influenced by the downturn in the real estate market [1] - The company has appointed Li Xiaoyu as the board secretary and is proposing to elect a non-independent director candidate to stabilize its management structure, with related proposals to be submitted for review at the temporary shareholders' meeting on March 2 [1] Group 2 - On February 13, 2026, ST Shuyuan's closing price was 5.68 yuan, down 1.9%, with a net inflow of 143,200 yuan in main funds and a turnover rate of 0.51%; there will be no trading data from February 18 to 24 due to the Spring Festival holiday [2] - The technical analysis indicates that the stock price is currently fluctuating, with a resistance level at 5.97 yuan and a support level at 5.23 yuan [2] Group 3 - The 2025 performance forecast for ST Shuyuan indicates a net profit loss expected to be between 290 million and 390 million yuan, representing an expanded loss year-on-year, mainly due to reduced business income and asset impairment caused by the real estate downturn [3] - The mid-year report for 2025 already showed a year-on-year net profit decline of 167.54% and a revenue drop of 16.14%, with the gross margin decreasing to 39.53% [3]