*ST Baoxin released its 2026 half-year performance forecast, projecting a loss of 30 million to 44 million yuan for the first half, with a loss of 40 million to 48 million yuan after deducting non-recurring items. The company attributed the loss mainly to significant impairment provisions on historical inventory, and gross profit insufficient to cover period expenses. However, the rising revenue share of the intelligent manufacturing segment helped improve the overall gross margin, and operating profit improved year-on-year. On the same day, the company disclosed a major lawsuit: the bankruptcy administrator of subsidiary Lianyungang Baoxin Photovoltaic Technology is pursuing approximately 19.57 million yuan in outstanding payments. The case has been accepted but not yet ruled on, and the impact on company profits remains uncertain. Previously, for concealing negative net assets in its performance forecast, the company, its chairman, and its CFO were publicly reprimanded by the Shenzhen Stock Exchange on June 22, and the stock has been under delisting risk warning since May 6. In the secondary market, *ST Baoxin hit its daily limit down on July 15, closing at 1.83 yuan, with a year-to-date decline of 68.88%.
Jiangsu Boamax Technologies Group Co LtdCompany expects first-half loss of up to 44 million yuan due to impairment provisions and insufficient gross profit.
Subsidiary faces lawsuit for 19.57 million yuan in outstanding payments; outcome uncertain.