Yihua Lu: By the end of 2025, the net assets will be negative and the stock will be subject to delisting risk warning.

Yihua Logic announced that the audited net assets attributable to the parent company in 2025 were -19.53 billion yuan, mainly due to continuous losses in the past three accounting years and significant impairment provisions. The company's stock was subject to delisting risk warning on April 30, 2026, with the abbreviation changed to "*ST Yilu". On April 28, 2026, the company was investigated by the China Securities Regulatory Commission for suspected violations of information disclosure laws and regulations, and the investigation is currently ongoing. In addition, as of December 31, 2025, the company is involved in multiple lawsuits with large amounts at stake, and there are instances of debt default and providing liquidity support letters.