Core Viewpoint - The company, Qibu Co., Ltd., is facing significant risks related to stock price volatility, potential delisting, and ongoing financial losses, prompting a warning to investors about the associated risks [1][2][3]. Group 1: Financial Performance Risks - The company projects a net profit loss for the year 2025, estimated between -128 million to -178 million yuan, with a net profit loss excluding non-recurring items estimated between -118 million to -168 million yuan [2]. - The company has reported continuous net profit losses for five consecutive years, indicating a persistent financial struggle [3]. Group 2: Asset and Liability Concerns - As of September 30, 2025, the company's net assets attributable to shareholders were only 78.314 million yuan, with a high debt ratio of 88.95%, raising concerns about the sustainability of its financial position [4]. - The anticipated losses for 2025 will further reduce net assets, and potential asset impairments or legal liabilities could lead to a significant decline in net assets [4]. Group 3: Legal and Operational Risks - The company is currently involved in 26 legal cases, with a total amount in dispute of approximately 100.56 million yuan, which could adversely affect its operational funds and financial status if the outcomes are unfavorable [5]. - If the company loses any of these lawsuits and enters enforcement proceedings, its bank accounts and operational assets may be subject to judicial seizure or freezing [5]. Group 4: Disclosure and Transparency - The company's board confirms that there are no undisclosed significant matters that should have been disclosed according to relevant regulations, ensuring transparency in its communications with investors [6].