ST Spring: The company's stock may be delisted and a second risk warning is issued.

*ST ChunTian announced that the company's stock will be subject to delisting risk warning starting from April 30, 2025. If the company's 2025 annual report triggers relevant conditions, it may be delisted by the Shanghai Stock Exchange. Based on preliminary calculations, the company is expected to generate revenue of 343-371 million yuan in 2025, with non-GAAP revenue of 338-367 million yuan. The total profit is expected to be between -31.30 million and -46.80 million yuan, with a net profit of -44.00 to -59.50 million yuan, and non-GAAP net profit of -56.40 to -71.90 million yuan, resulting in a loss. In addition, the annual audit accountant cannot confirm that the company's non-GAAP revenue exceeds 300 million yuan and eliminates the delisting indicators. If the prepaid investment funds cannot be recovered, an unqualified opinion report will be issued, and the company's stock will be delisted.