ST nationalization: After the 2025 annual report is disclosed, there may be a risk of the stock being delisted.

ST State Announcement stated that the company's stock will be subject to delisting risk warning starting from April 29, 2025. If the circumstances stipulated in the "Shanghai Stock Exchange Listing Rules" are found in the 2025 annual report, the company's stock may be delisted by the Shanghai Stock Exchange. According to calculations, the estimated revenue in 2025 is 332 million to 357 million yuan, total profit is expected to be a loss of 205 million to 245 million yuan, and net profit attributable to shareholders is forecasted to be a loss of 200 million to 240 million yuan. This is the company's fourth disclosure of relevant risk warning announcements.