*ST Lingnan faces delisting risks as it announces fourth bond repayment phase

Today’s market saw significant developments, particularly for *ST Lingnan Co., Ltd. (*ST Lingnan) and Blue Shield Optoelectronics Co., Ltd. (300862), as both companies navigate critical financial and operational challenges.

Earnings & Performance

• *ST Lingnan Co., Ltd. (002717) reported substantial annual losses and a significant decline in revenue, prompting the initiation of a fourth partial repayment phase for its convertible bonds. The company is under considerable liquidity pressure and faces ongoing debt defaults, raising serious concerns about its ability to continue as a going concern.
• Tianjin Binhai Energy Development Co., Ltd. (000695) disclosed a net loss of 28.25 million RMB for the first half of 2026, following a change in controlling shareholder and major investments in new energy projects.
• Dazhong Mining Co., Ltd. (001203) reported a 9.86% decline in revenue and a 20.59% drop in net profit attributable to shareholders in its semi-annual report.

Deals & Restructuring

• Blue Shield Optoelectronics Co., Ltd. (300862) is planning to acquire assets through a combination of share issuance and cash payments, involving seven counterparties. This transaction is classified as a related party transaction and requires regulatory approval.
• Anhui Landun Photoelectron Co., Ltd. (300862) also announced a draft plan to acquire assets through share issuance and cash payments, targeting up to 35 specific investors.
• *ST Power Co., Ltd. (300152) issued its fourth risk warning regarding potential delisting due to consecutive years of negative net profit and a qualified audit opinion.
• Huizhou China Eagle Electronic Technology Inc. (002579) is set to issue A-shares to fund significant projects, including a PCB production base in Thailand.

Regulatory & Governance

• *ST Power Co., Ltd. (300152) received a prior administrative penalty notice from the Hebei Regulatory Bureau for alleged information disclosure violations, which may result in fines and market entry bans for involved personnel.
• *ST Quanwei Co., Ltd. (300716) and its controlling shareholder received a decision on administrative penalties for information disclosure violations, totaling fines of 10.6 million yuan for the company and 15.5 million yuan for the shareholder.
• Jiangsu Olive Sensors High-Tech Co., Ltd. (300507) is undergoing a change of control following a significant equity transfer, which will see CALB Group become the controlling shareholder.

Other Notable Developments

• Hefei Lifeon Pharmaceutical Co., Ltd. (003020) announced its products were selected for national centralized drug procurement, expected to enhance market share.
• Zhejiang Shibao Co., Ltd. (002703) plans to issue A-shares to specific targets to raise up to 1.394 billion RMB for various projects, pending shareholder and regulatory approvals.
• Lakala Payment Co., Ltd. (300773) proposed its third restricted stock incentive plan, aiming to align employee interests with long-term growth.
• GuoCheng Mining Co., Ltd. (000688) signed a long-term cooperation agreement for lithium carbonate supply, which is considered a related party transaction.

Investors should closely monitor these developments as they may significantly impact the respective companies' operational and financial standings.