On April 29, Baoxin Science and Technology announced that due to the late completion of the audit work in 2025, the relevant financial data need to be verified and confirmed, and the preparation and disclosure of the annual report are arduous and time-intensive, in order to ensure the authenticity, accuracy and completeness of the information disclosure of the annual report, after applying to the Shenzhen Stock Exchange, the relevant financial data should be verified and confirmed. The company's 2025 annual report will be postponed to April 30, 2026, and will be disclosed together with the first quarterly report of 2026.
On April 27, Baoxin Technologies just revised its 2025 annual performance forecast. The company originally estimated that its operating income in 2025 would be 310-330 million yuan, its net profit loss would be 0.6-100 million yuan, and its non-net profit loss would be 0.9-140 million yuan; Revised revenue is expected to be 220-230 million yuan, net profit is expected to lose 210-220 million yuan, and non-net profit is expected to lose 220-230 million yuan .
For this amendment, Baoxin Technologies said that some of the year-end delivery projects did not fully meet the revenue recognition conditions, so the company reduced the revenue and cost of related business. Accordingly, it is necessary to revise the expected range of operating income and operating income after deduction in the performance forecast.
At the same time, Baoxin Science and Technology intends to divest loss-making enterprises , and related transfer work has been under negotiation and in progress. It is expected that the relevant transfer procedures will not be completed by the end of April 2026, that is, before the disclosure of the annual report. The company will need to re-calculate the impairment of this part of the photovoltaic assets to be transferred; at the same time, the operating income will be adjusted to reduce the current profit accordingly, and the credit impairment loss will be calculated individually for customers with weak solvency and high risk of overdue repayment. Affected by the combination of the above factors, the company's net assets will be negative in the reporting period. Accordingly, the estimated range of net assets in the performance forecast also needs to be revised.
In addition, Baoxin Technologies said that the company's total profit and net profit in 2025 are expected to be negative after deducting recurring gains and losses, and its operating income after deduction is less than 300 million yuan . After the disclosure of the company's annual report in 2025, the company's stock trading may be subject to delisting risk warning (the stock abbreviation is preceded by the word "* ST").
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