YATAI(SZ:000691) Shang Hai Zheng Quan Bao·2026-02-26 18:57Core Viewpoint - Gansu Yatai Industrial Development Co., Ltd. is at risk of being delisted due to negative net assets as of the end of 2024, which has triggered a delisting risk warning effective April 30, 2025 [2][3]. Group 1: Delisting Risk Announcement - The company disclosed its first delisting risk warning on April 29, 2025, indicating that its audited net assets for 2024 were negative [2][3]. - According to the Shenzhen Stock Exchange Listing Rules, if the company meets certain financial criteria in 2025, it may face termination of its stock listing [3][9]. - This announcement marks the third risk warning regarding potential delisting, as required by regulations [14]. Group 2: Financial Conditions Leading to Delisting - The company may face delisting if its audited total profit, net profit, or net profit after deducting non-recurring gains and losses is negative, and its revenue is below 300 million yuan [3][9]. - The company has also reported negative net assets as of the end of 2024, which is a key factor in the delisting risk [4][9]. Group 3: Recent Financial Developments - On November 26, 2025, the company received a cash donation of 73 million yuan from a restructuring investor to support its operations [10]. - On December 9, 2025, the company signed a debt waiver agreement with its former controlling shareholder, waiving a total of 75 million yuan in debt [11]. - The company completed its restructuring plan by December 31, 2025, as confirmed by a court ruling [12]. Group 4: Future Financial Outlook - On January 22, 2026, the company announced a preliminary forecast indicating a potential return to positive net assets for the year 2025, although this data is subject to final audit [12].