Core 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].

Group 1 - The company *ST Jianyi (002789) issued a second risk warning regarding the potential termination of its stock listing due to negative net assets as of the end of the 2024 fiscal year, which triggers relevant regulations of the Shenzhen Stock Exchange [2] - The stock has been under delisting risk warning since April 28, 2025, and may face termination if it reports negative values in audited profit totals, net profit, or if its revenue falls below 300 million yuan [2] - The company is currently preparing its 2025 annual report and conducting an audit, with final financial data yet to be confirmed [2] Group 2 - *ST Jianyi was established on January 3, 1994, with a registered capital of 1,596.23514 million yuan, and is based in Shenzhen, focusing on interior decoration and design services for various public and residential buildings [3] - The company has a current chairman, Shi Fang, and a secretary, Zhong Mengguang, with a workforce of 1,846 employees, and is controlled by the State-owned Assets Supervision and Administration Office of Zhuhai [4] - The company has 61 subsidiaries, including Guangdong Jianyi Intelligent Technology Co., Ltd. and Guangdong Jianyi Energy Infrastructure Co., Ltd. [4] Group 3 - The company's revenue for 2022, 2023, and 2024 was 2.166 billion yuan, 6.200 billion yuan, and 6.249 billion yuan, reflecting year-on-year growth rates of 11.18%, 186.32%, and 0.79% respectively [4] - The net profit attributable to shareholders for the same years was 11.1832 million yuan, -563 million yuan, and -829 million yuan, with year-on-year changes of 101.14%, -5142.03%, and -47.23% respectively [4] - The company's asset-liability ratios were 96.49%, 97.45%, and 105.23% for the years 2022, 2023, and 2024 [4]

Core Viewpoint - The company, Chongqing Huicheng Information Technology Co., Ltd., is at risk of being delisted due to negative financial indicators, including a negative net asset value and negative net profit for the fiscal year 2024, with revenue below 300 million yuan [2][3][20]. Group 1: Risk of Delisting - The company's stock has been under delisting risk warning since April 30, 2025, due to the negative net assets and net profit for the fiscal year 2024 [2][3]. - If the company continues to meet the criteria for delisting as outlined in the Shenzhen Stock Exchange rules, it may face termination of its stock listing [3][10]. - The company is required to disclose risk warning announcements every ten trading days until the annual report is published, with this being the second such announcement [2][12]. Group 2: Financial Performance and Reporting - The company has projected that for the fiscal year 2025, its total profit, net profit attributable to shareholders, and net profit after deducting non-recurring gains and losses will all be negative, with revenue estimated between 330 million yuan and 400 million yuan [10][17]. - The company is in the process of preparing its 2025 annual report, which is expected to be disclosed by March 31, 2026 [16][18]. - The auditing firm, Da Xin, has been engaged in the audit process and has communicated with the company's board regarding the audit plan and key matters [18]. Group 3: Disclosure and Communication - The company has been actively communicating with its auditing firm to ensure timely progress on the annual report and audit [18]. - The company has designated specific media outlets for information disclosure, ensuring that all information is published through these channels [20]. - The company emphasizes the importance of rational investment and awareness of risks for its investors [2][20].

Core Viewpoint - The company is facing significant financial challenges, including potential delisting risks due to negative profit forecasts and ongoing regulatory investigations, which may impact investor sentiment and stock performance [3][8][10]. Financial Performance - The company has projected its 2025 financial results, estimating revenue between 200 million and 250 million, with a net loss expected between 50 million and 35 million [3][8]. - The anticipated financial results indicate that both total profit and net profit attributable to shareholders will be negative, with revenues below 300 million [3][8]. Regulatory and Compliance Issues - The company has been under investigation by the China Securities Regulatory Commission (CSRC) since July 25, 2025, for suspected violations of information disclosure laws, with no conclusive findings reported as of the announcement date [10]. - The company received a qualified audit opinion from Zhongxing Caiguanghua Accounting Firm regarding the recoverability of investments, which poses a risk of receiving a similar opinion in the 2025 audit report, potentially leading to delisting [4][9]. Market Activity and Stock Performance - The company's stock experienced a continuous decline, hitting the limit down for 20 trading days from January 13 to February 9, 2026, followed by a surge with three consecutive limit-up days starting February 10, 2026 [5][2]. - The trading volume significantly increased, with a turnover rate reaching 36% over two days, indicating heightened market activity and potential speculative trading [5]. Risk Warnings - The company has been under delisting risk warning since April 30, 2025, with its stock name changed to "*ST WanFang" and a daily trading limit of 5% imposed [2][7]. - The company has issued multiple risk warning announcements regarding the potential for delisting due to financial performance and ongoing investigations [11].

Core Viewpoint - Jinfa Labi Maternal and Child Products Co., Ltd. is at risk of being delisted due to financial performance issues, specifically negative net profit and revenue below 300 million yuan in the 2024 fiscal year [2][4]. Group 1: Financial Performance - The audited financial data for 2024 shows a total profit of 70.7693 million yuan, a net profit of 49.6867 million yuan, and a net profit of -45.3168 million yuan after deducting non-recurring gains and losses, which is the lowest among the three metrics [4]. - The company's revenue for 2024 was below 300 million yuan, triggering a "delisting risk warning" effective April 24, 2025, with the stock being marked as "*ST" [2][4]. Group 2: Regulatory Compliance - According to the Shenzhen Stock Exchange listing rules, the company must disclose a risk warning announcement regarding potential delisting within one month after the end of the fiscal year in which the delisting risk warning was implemented [3][7]. - The company has already issued its first risk warning announcement on January 31, 2025, and this announcement serves as the second risk warning, with further disclosures required every ten trading days until the annual report is released [8]. Group 3: Future Risks - If the company continues to meet the criteria for delisting as outlined in the Shenzhen Stock Exchange rules, including negative net assets or receiving adverse audit opinions, it may face termination of its stock listing [5][6]. - The company has communicated with its auditing firm regarding the 2025 performance forecast, indicating no discrepancies, but final financial data will be confirmed in the official audited annual report [6]. Group 4: Information Disclosure - The company emphasizes its commitment to comply with legal and regulatory requirements for information disclosure and urges investors to refer to designated media for accurate information [9].

Core Viewpoint - The company, Guandian Defense Technology Co., Ltd., is at risk of being delisted due to negative financial performance, including a projected total profit of approximately -189 million yuan for 2025 and revenue below 1 billion yuan after excluding non-core business income [10][11]. Group 1: Reasons for Potential Delisting - The company was placed under delisting risk warning on April 30, 2025, due to the audited total profit and net profit (whichever is lower) for 2024 being negative, and revenue after excluding non-core business income being below 1 billion yuan [2][4]. - If the company does not meet the criteria to lift the delisting risk warning or fails to apply for its removal within the specified timeframe, its stock may face termination of listing [5]. Group 2: Financial Performance and Audit Issues - The company’s preliminary estimates for 2025 indicate a total profit of approximately -189 million yuan and a net profit attributable to shareholders of approximately -185 million yuan, continuing the trend of losses compared to the previous year [10]. - The auditing firm, Zhongxi CPA, has issued a special report indicating that non-standard audit opinions related to the company have not been resolved, which may lead to a non-standard opinion on the 2025 financial statements if sufficient audit evidence is not obtained [3][7]. Group 3: Other Relevant Matters - The company has acknowledged the existence of non-operational fund occupation by its actual controller, which has led to additional risk warnings being implemented since November 4, 2024 [7][8]. - As of April 26, 2025, the company had 96.9472 million yuan in non-operational funds occupied, which has since been repaid in full [8].

Core Viewpoint - Jiangsu Sihuan Biological Co., Ltd. is facing a risk of being delisted due to negative net profit and insufficient revenue as per the Shenzhen Stock Exchange regulations [2][3]. Group 1: Delisting Risk Announcement - The company announced on April 29, 2025, that its stock would be subject to delisting risk warning starting April 30, 2025, due to a negative net profit and revenue below 300 million yuan for the fiscal year 2024 [2][3]. - According to the Shenzhen Stock Exchange's listing rules, if the company continues to meet the criteria for delisting in the following fiscal year, its stock may be terminated from listing [3][11]. Group 2: Financial Performance Indicators - The audited net profit for the fiscal year 2024 was reported as negative, and the operating revenue was below 300 million yuan, triggering the delisting risk warning [3][4]. - The company projected a net profit (excluding non-recurring gains and losses) for 2025 to be between -46 million yuan and -33 million yuan, with expected operating revenue between 330 million yuan and 350 million yuan [11]. Group 3: Compliance and Disclosure Obligations - The company is required to disclose risk warning announcements every ten trading days until the annual report is released, following the initial risk warning announcement [2][11]. - The company will adhere to the information disclosure obligations as stipulated by the Shenzhen Stock Exchange, with designated media for announcements including Securities Times and China Securities Journal [11].

Core Viewpoint - The company *ST JiaoTuo announced that its stock will be subject to "delisting risk warning" and "other risk warning" starting from April 18, 2025, indicating potential delisting risks if certain conditions are met in the 2025 fiscal year [1] Group 1 - The company has issued a second risk warning announcement, urging investors to make rational investment decisions and be aware of risks [1] - The stock may face delisting if the audited year-end net assets are negative, among other conditions specified in the Shenzhen Stock Exchange listing rules [1] - The company has disclosed a performance forecast for the 2025 fiscal year, which is unaudited and will be finalized in the annual report [1]

Core Viewpoint - The company *ST Kaixin is facing delisting risk due to poor financial performance, with a reported total audited profit of -4.4453 million yuan for 2024 and a net profit of -1.6462 million yuan, which is below the required revenue threshold [1] Financial Performance Summary - For the fiscal year 2024, the company reported an audited total profit of -4.4453 million yuan and a net profit of -1.6462 million yuan [1] - The company's revenue, after deducting non-recurring items, was 8.16059 million yuan, which is below the 100 million yuan threshold required for continued listing [1] - The preliminary forecast for 2025 indicates an expected net profit attributable to shareholders of 26 million to 33 million yuan, with revenue projected to be between 182 million and 220 million yuan [1]

Core Viewpoint - Zhejiang Dongjing Electronics Co., Ltd. is facing a delisting risk due to its financial performance in 2024, which has triggered a warning under the Shenzhen Stock Exchange listing rules [2][4]. Financial Performance - The company announced that for the fiscal year 2025, it expects total profit, net profit, and net profit after deducting non-recurring gains and losses to all be negative [3][8]. - The projected revenue after deductions is estimated to be between 330 million yuan and 360 million yuan [3][8]. Delisting Risk - The company’s stock was placed under delisting risk warning starting March 26, 2025, due to the financial indicators meeting the criteria set forth in the Shenzhen Stock Exchange listing rules [2][4]. - If the company continues to meet the delisting criteria in 2025, it may face termination of its stock listing [4][8]. Compliance and Disclosure - The company is required to disclose potential delisting risks within one month after the end of the fiscal year in which the delisting warning was issued, and subsequently every ten trading days until the annual report is released [6][8]. - The second risk warning announcement was made on January 27, 2026, in compliance with the listing rules [6][7].