Special Risk Warning
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Shenzhen Yingfit Technology Co., Ltd. (hereinafter referred to as "the Company") disclosed its 2025 Annual Report and the announcement regarding the implementation of delisting risk warnings and other risk warnings on April 29, 2026 (Announcement No. 2026-036). The audited net assets of the Company at the end of 2025 were -112.73 million yuan. According to Article 9.3.1 of the Shenzhen Stock Exchange Listing Rules (hereinafter referred to as "the Listing Rules"), the Company's stock trading will be subject to delisting risk warnings starting from April 30, 2026, and the stock abbreviation will change from "ST Yingfit" to "*ST Yingfit," while the stock code remains "002528." If the Company encounters any of the circumstances listed in Article 9.3.12 of the Listing Rules regarding the termination of stock listing in 2026, the Shenzhen Stock Exchange will terminate the Company's stock listing.
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The Company disclosed the announcement regarding the acceptance of the application for out-of-court restructuring on April 9, 2025 (Announcement No. 2026-021), the announcement regarding the appointment of restructuring coordinators on April 17, 2025 (Announcement No. 2026-024), and the announcement regarding the declaration of claims for out-of-court restructuring by the Company and its wholly-owned subsidiary, Shenzhen Yingfit Renyong Information Co., Ltd. (hereinafter referred to as "Yingfit Renyong") on April 18, 2025 (Announcement No. 2026-025). The Futian Enterprise Restructuring Service Center (hereinafter referred to as "the Restructuring Center") has accepted the out-of-court restructuring application of the Company and Yingfit Renyong, appointing Zhonglun Law Firm (Shenzhen) and DeHeng Law Firm (Shenzhen) as the restructuring coordinators for this project. The Company and Yingfit Renyong are coordinating the out-of-court restructuring work with the assistance of the restructuring coordinators. The Company and all members of the board of directors guarantee that the information disclosed is true, accurate, and complete, without false records, misleading statements, or significant omissions.
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On June 3, 2026, the Company disclosed the announcement regarding the intention to apply to the court for pre-restructuring and restructuring (Announcement No. 2026-044), intending to apply to the competent people's court for pre-restructuring and restructuring due to the Company's and Yingfit Renyong's inability to repay due debts and a significant lack of repayment ability, but possessing restructuring value. This matter still requires approval from the shareholders' meeting, and there is uncertainty regarding whether it will be approved. There is also uncertainty regarding whether the court will decide to allow the Company and Yingfit Renyong to enter pre-restructuring and restructuring procedures. According to Article 9.4.1 of the Listing Rules, if the court lawfully accepts the Company's restructuring application, the Company's stock will be subject to additional delisting risk warnings after the acceptance of the restructuring application. If the Company and Yingfit Renyong successfully implement the restructuring and complete the restructuring plan, it will help optimize the Company's asset-liability structure and enhance its ongoing operations and profitability; if the restructuring fails, there is a risk of bankruptcy. According to Article 9.4.18 of the Listing Rules, the Company's stock will face the risk of being terminated from listing.
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Recently, the Company's stock price has experienced significant fluctuations, with the market having overly high expectations regarding the Company's out-of-court restructuring and the proposed application for pre-restructuring and restructuring. The stock price has severely deviated from current performance, with the latest price-to-book ratio significantly higher than the industry average, which is in stark contrast to the Company's ongoing losses. There is a risk of significant fluctuations, rapid declines, and valuation corrections in the Company's stock price in the future. Investors are advised to rationally assess the Company's development status and valuation levels, make prudent decisions, and pay attention to investment risks.