ST Baoying: Abnormal stock fluctuations, warning of risks such as performance changes and changes in control.

ST Baoying announced that the closing price of the company's stock on November 4-6 has deviated by more than 12% for three consecutive trading days, which is considered abnormal volatility. The company's revenue for the first three quarters of 2025 was 515,084.5 thousand yuan, a decrease of 65.79% year-on-year; net profit was -33,747.5 thousand yuan, a decrease of 92.21% year-on-year; owner's equity was -31,897.1 thousand yuan, a decrease of 420.56% compared to the previous year. If the owner's equity cannot turn positive by the end of the year, the company's stock will be delisted. In addition, there is significant uncertainty surrounding changes in the company's ownership and the planned entry of a subsidiary into the high-end optocoupler field is still in the preparatory stage with many risks.