Shandong Yabo Technology Co Ltd

ST Yabo released its 2026 interim report. As of June 30, the company's net profit attributable to shareholders was negative 72.71 million yuan, a decrease of 31.47 million yuan compared with the same period last year, with the loss widening year on year. Total operating revenue was 34.26 million yuan, down 70.55 percent year on year. Net cash inflow from operating activities was 56.61 million yuan, marking a second consecutive year of growth. The asset-liability ratio rose to 83.84 percent, gross margin was negative 48.31 percent, return on equity was negative 55.85 percent, and diluted earnings per share was negative 0.03 yuan. The company had 72,000 shareholders, and the top ten shareholders held 35.35 percent of total share capital.

The Shenzhen Stock Exchange has publicly censured ST Yabo, along with its chairman Zhang Zonghui, general manager Ni Yongshan, and chief financial officer Ma Longyun. The company's 2025 annual earnings forecast, disclosed on 31 January 2026, contained significant deviations. It originally projected revenue of 330 million to 380 million yuan and net assets of 210 million to 270 million yuan, but was later revised to revenue of 270 million to 290 million yuan and net assets of 190 million to 270 million yuan, with a first-time warning that it might face delisting risk. The annual report released on 29 April showed an actual net loss of 178 million yuan and revenue after deductions of 286 million yuan. Because net profit was negative and post-deduction revenue fell below 300 million yuan, the company's shares have been placed under delisting risk warning. The company failed to disclose a true, accurate, and complete earnings forecast within the prescribed period, and also failed to issue at least two delisting risk warning announcements before the annual report's release as required, violating multiple provisions of the Stock Listing Rules, 2025 revision. The three senior executives did not perform their duties diligently and bear significant responsibility.