Second Risk Warning Announcement Regarding Possible Termination of Company Stock Listing
Fujian Nachuan Pipe Technology Co., Ltd.
Securities Code: 300198
Securities Abbreviation: *ST Nachuan
Announcement No.: 2026-102
Fujian Nachuan Pipe Technology Co., Ltd. (hereinafter referred to as "the Company" or "Nachuan Shares") and all members of the Board of Directors guarantee that the content of this information disclosure is true, accurate, and complete, without false records, misleading statements, or major omissions.
Special Reminder:
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Fujian Nachuan Pipe Technology Co., Ltd. disclosed the announcement titled "Notice on the Implementation of Delisting Risk Warning and Continued Addition of Other Risk Warnings for Company Stock Trading and Stock Suspension and Resumption" (Announcement No.: 2026-089) on April 28, 2026. The company's total profit, net profit, and net profit after deducting non-recurring gains and losses are all negative, and the revenue after deductions is below 100 million yuan; the company's net assets at the end of 2025 were -147,791,659.62 yuan; the internal control audit reports for 2024 and 2025 were negative opinions. According to Article 10.3.1 (1) and (2) and Article 10.4.1 (6) of the "Shenzhen Stock Exchange GEM Stock Listing Rules" (2026 revision) (hereinafter referred to as "Listing Rules"), the company's stock was subject to delisting risk warning starting from the opening of the market on April 29, 2026. If the company encounters the circumstances specified in Article 10.3.11 of the Listing Rules, there is a risk of termination of the stock listing.
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The net profit before and after deducting non-recurring gains and losses for the last three accounting years is negative, and the audit opinion of the 2025 audit report issued by Xinyong Zhonghe Accounting Firm (Special General Partnership) is a qualified opinion, indicating significant uncertainty that may lead to substantial doubts about the company's ability to continue as a going concern. According to relevant provisions of the Listing Rules, the company's stock trading continues to be subject to other risk warnings.
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According to Article 10.4.10 of the Listing Rules, "If the company triggers the sixth circumstance of Article 10.4.1 and its stock trading is subject to delisting risk warning, the company shall disclose a risk warning announcement regarding the possible termination of the stock listing once a month during the delisting risk warning period, and within one month after the end of the accounting year in which the stock trading is subject to delisting risk warning, disclose a risk warning announcement regarding the possible termination of the stock listing, and from the first disclosure of the risk warning announcement in that month until the internal control audit report for that year is disclosed, disclose a risk warning announcement every ten trading days." The company is required to disclose a risk warning announcement regarding the possible termination of the stock listing. Investors are advised to invest rationally and pay attention to risks.
As of the date of this announcement, the circumstances that may lead to termination of the stock listing are as follows: