Core Viewpoint - The company ST Quanwei reported negative equity of -1.0513 million yuan as of September 30, 2025, indicating significant financial distress [1] Financial Performance - For the first three quarters of 2025, the company recorded a net loss of -58.8085 million yuan [1] - The audited net profit for 2024, after excluding non-recurring gains and losses, was also negative, raising concerns about the company's financial health [1] Audit and Compliance - The auditing firm issued a report with a significant uncertainty regarding the company's ability to continue as a going concern, leading to risk warnings for the company's stock starting April 30, 2025 [1] - If the internal control over financial reporting for 2025 continues to receive a negative opinion or an inability to express an opinion from the auditing firm, the company may face delisting risk warnings if equity remains negative as of December 31, 2025 [1]