*ST Xingguang issues a fourth risk warning about the termination of stock listing, and may still face claims from injured shareholders.

Ask AI · How could the incident of investors claiming compensation affect the company’s future financing capacity?

Radar Finance | Yang Yang, Editor | Li Yihui

On March 22, *ST Xingguang (002076) released its fourth risk warning announcement regarding the possible termination of listing of the company’s stock. The announcement states that, because the audited total profit, net profit, and net profit after deducting non-recurring gains and losses for fiscal year 2024 are all negative values, and the operating revenue after deduction is below 300 million yuan, *ST Xingguang has been subject to delisting risk warnings starting from April 29, 2025. If, in fiscal year 2025, any of the circumstances stipulated in Article 9.3.12 of the Shenzhen Stock Exchange’s Stock Listing Rules occurs, the company’s stock may face the risk of being delisted.

According to preliminary financial data, the company expects that in fiscal year 2025, the total profit, net profit, and net profit after deducting non-recurring gains and losses will still be negative values; operating revenue and operating revenue after deduction will be between 360 million and 410 million yuan and between 340 million and 370 million yuan, respectively. Shareholders’ equity will be between 300 million and 330 million yuan. The company reminds investors to pay attention to the relevant risks, and says it will disclose the final audited results in the designated media.

What is worth noting is that *ST Xingguang may also face investor compensation claims.

Song Lianmin, the director of Jiangsu Shengheng Law Firm, which has represented many stock compensation cases and secured awards, told Radar Finance that the performance forecast for *ST Xingguang was revised on the evening of April 21, 2025, which did not match the first forecast and led to a noticeable drop in the stock price. Investors who bought *ST Xingguang shares between January 21, 2025 and April 21, 2025, and were still holding *ST Xingguang shares as of the close on April 22, 2025, may sign up to participate in the claims. To sign up, please follow the public account “Lei Shouba” (Lei Shou code: 99) to participate; there are no fees before receiving any compensation.

Tianyancha data shows that *ST Xingguang was established on October 22, 1992. Its registered capital is 8B yuan RMB, its legal representative is Li Zhenjiang, and its registered address is Block A, Shishan Industrial & Technology Industrial Park, Nanhai District, Foshan City, Guangdong Province. Its主营 business includes ultraviolet germicidal lamps, LED lighting, automotive lighting, and lithium battery production equipment.

At present, the company’s chairman is Dai Junwei, the secretary of the board of directors is Zhang Taohua, the company has 470 employees, and Dai Junwei is the actual controller.

The company has 38 invested companies, including Shenzhen Zhuoyu Automation Technology Co., Ltd., Guangdong Xinglu E-commerce Co., Ltd., Guangdong Xingguang Ocean Technology Co., Ltd., Guangdong Xingguang Shenzhou Quantum Technology Co., Ltd., Foshan Xingguang Intelligent Technology Co., Ltd., and others.

In terms of performance, the company’s operating revenue in 2022, 2023, and 2024 was 156 million yuan, 151 million yuan, and 192 million yuan, respectively, with year-over-year growth of 0.43%, -3.41%, and 27.22%, respectively. Net profit attributable to shareholders was 24.6091 million yuan, -13.1056 million yuan, and -30.9756 million yuan, respectively. The year-over-year changes in net profit attributable to shareholders were 114.21%, -153.20%, and -136.35%, respectively. In the same period, the company’s asset-liability ratios were 64.00%, 51.02%, and 64.73%, respectively.

In terms of risk, Tianyancha information shows that the company itself has 215 Tianyan risks, 401 Tianyan risks in its surrounding area, 5 historical Tianyan risks, and 241 risk warnings and reminders.