*ST Lingnan announced that revenue for 2025 was 112 million yuan, down 86.99% year on year; net loss attributable to shareholders of listed companies was 2,336 billion yuan, up 137.29% year on year; after deducting non-net loss of 2,776 billion yuan, net assets at the end of the period were -1,297 billion yuan. The company's 2025 financial report was issued with an audit report where no opinion could be expressed. The internal control audit report was issued for two consecutive years, compounded by situations such as the freezing of major bank accounts, doubts about the ability to continue operating, and false records of financial indicators in the annual report. The company's stock was subject to a delisting risk warning and many other risk warnings. The abbreviation was changed to*ST Lingnan on April 30, 2026. The “Lingnan Convertible Bonds” were unable to pay principal and interest on time, and the credit ratings of the principal and debt were downgraded to C. As of August 19, 2026, the company and its holding subsidiaries added a total of 181 million yuan in undisclosed lawsuits and arbitration cases for 12 consecutive months.

*ST Lingnan announced that revenue for 2025 was 112 million yuan, down 86.99% year on year; net loss attributable to shareholders of listed companies was 2,336 billion yuan, up 137.29% year on year; after deducting non-net loss of 2,776 billion yuan, net assets at the end of the period were -1,297 billion yuan. The company's 2025 financial report was issued with an audit report where no opinion could be expressed. The internal control audit report was issued for two consecutive years, compounded by situations such as the freezing of major bank accounts, doubts about the ability to continue operating, and false records of financial indicators in the annual report. The company's stock was subject to a delisting risk warning and many other risk warnings. The abbreviation was changed to*ST Lingnan on April 30, 2026. The “Lingnan Convertible Bonds” were unable to pay principal and interest on time, and the credit ratings of the principal and debt were downgraded to C. As of August 19, 2026, the company and its holding subsidiaries added a total of 181 million yuan in undisclosed lawsuits and arbitration cases for 12 consecutive months.