ST Haichen: Stocks may be delisted, fifth risk warning issued

ST Haiqin announced that due to the negative non-recurring net profit for the year 2024, revenue below 300 million RMB, and negative net assets at the end of the period, the company's stock will be subject to delisting risk warning starting from April 29, 2025. On February 27, 2026, the company received an "Administrative Penalty Advance Notice" from the Fujian Securities Regulatory Bureau, and the stock will be subject to additional risk warnings starting from March 2. If the financial indicators for the year 2025 trigger another mandatory delisting situation, the company's stock may be terminated from listing by the Shanghai Stock Exchange. The company expects a net profit of 28-42 million RMB and revenue of 1.45-1.85 billion RMB in 2025, but the final results will depend on the audit report.