（记者 王晓波） 截至发稿，*ST春天市值为26亿元。 每经头条（nbdtoutiao）——5年期大面积下线，3年期利率低至1.5%仍一单难求：要么"售罄"要么"额度 紧张"！中长期大额存单为何在消失？ 每经AI快讯，*ST春天（SH 600381，收盘价：4.43元）12月1日晚间发布公告称，公司第九届第十七次 董事会会议于2025年12月1日在青海省西宁市城北区生物园区经二路12号公司会议室，以现场表决结合 通讯表决的形式召开。会议审议了《关于召开2025年第三次临时股东会的议案》等文件。 2025年1至6月份，*ST春天的营业收入构成为：酒水快消占比63.84%，大健康业务占比36.16%。 ...

Financial Performance - In 2024, the company achieved total revenue of 270 million yuan, a year-on-year increase of 26.36% [2][3] - The net profit attributable to shareholders was a loss of 199.77 million yuan, an improvement from a loss of 268.65 million yuan in the previous year [2][3] - The net profit excluding non-recurring items was a loss of 161.57 million yuan, compared to a loss of 243.67 million yuan in the previous year [2][3] - The net cash flow from operating activities was 80.97 million yuan, a significant increase of 238.56% year-on-year [2][3] Key Ratios - The basic earnings per share for 2024 was -0.34 yuan, with a weighted average return on equity of -17.26% [2][3] - The company's price-to-earnings ratio (TTM) is approximately -8.71 times, while the price-to-book ratio (LF) is about 1.68 times, and the price-to-sales ratio (TTM) is around 6.41 times [2][3] Asset and Liability Changes - As of the end of 2024, the company's net assets attributable to shareholders decreased by 18.38% compared to the previous year [3] - Inventory decreased by 41.44%, while cash and cash equivalents increased by 20.29% [51] - Contract liabilities increased by 106.8%, while lease liabilities decreased by 69.72% [54] Research and Development - The company invested 14.96 million yuan in research and development in 2024, a year-on-year increase of 28.54%, representing 5.54% of total revenue [61] Shareholder Structure - The largest shareholder, Tibet Rong'en Technology Co., Ltd., holds 32.13% of the shares, with significant pledges on their holdings [65] - New shareholders include Hu Zhenmin, Zhu Qiulian, Zhang Qian, and Ye Lingxiang, replacing previous shareholders [66]

Core Viewpoint - ST Spring (600381.SH) announced that due to the negative profit total, net profit, or net profit after deducting non-recurring gains and losses for the fiscal year 2024, and the operating income being below 300 million yuan after excluding unrelated business income and income without commercial substance, the company's stock will be subject to delisting risk warning [1] Group 1 - The stock abbreviation will change from "ST Spring" to "*ST Spring," effective from April 30, 2025 [1] - The company plans to take measures to seek the removal of the delisting risk warning, including improving sales performance in the health sector, launching new fast-moving consumer goods in the beverage sector, actively exploring new business segments, and strengthening internal control systems [1] - If the company's financial indicators for the fiscal year 2025 still do not meet the standards, the stock may be terminated from listing [1]