05,26,2026 6 views
On April 25th, Xingguang Agricultural Machinery Co., Ltd. (referred to as * ST Xingnong, company code: 603789) released its 2025 annual report. The report shows that * ST Xingnong will achieve a revenue of 386.4035 million yuan in 2025, an increase of 40.70% compared to the same period last year; After deducting business income unrelated to the main business and income without commercial substance, the operating income was 322.3588 million yuan, an increase of 25.74% over the same period last year; Realize a total profit of -79.5524 million yuan; Realize a net profit attributable to shareholders of the listed company of -98.9866 million yuan; Reduce losses by 54% and 45% respectively compared to the same period last year. The report states that the company's operating performance has significantly reduced losses compared to the same period last year, and its performance has effectively rebounded.
According to the data, * ST Xingnong's current main business is generally divided into two categories: agricultural machinery and automobile, and they carry out business activities according to their respective business characteristics. The agricultural machinery sector mainly focuses on the entire process of agricultural production operations, including the research and development, production, and sales of agricultural machinery products, as well as the agricultural operation services that the company participates in throughout the entire process.
*ST Xingnong stated that 2025 is a crucial year for the company to mitigate delisting risks and promote strategic transformation. Faced with multiple challenges such as the downturn in the agricultural machinery industry, intensified market competition, and regulatory adjustments, the company closely focuses on the main line of "stabilizing revenue, reducing losses, preventing risks, and promoting transformation", actively promoting key work such as optimizing industrial structure, restructuring business sectors, revitalizing assets and reducing burdens, and rectifying internal control compliance. In 2025, the company will enhance the scale of Starlight Manufacturing's structural components business by acquiring equity in Suzhou Dianzhong Fuel Injection Technology Co., Ltd. and Zhongcheng Automobile (Shandong) Co., Ltd., expanding new business areas, optimizing sales models, and successfully building a dual main business development pattern of "agricultural machinery+special vehicles and spare parts". The operating income will significantly increase compared to the same period last year, the loss margin will significantly narrow, and the operating quality will continue to improve, laying a solid foundation for the smooth lifting of delisting risk warnings.
In 2025, * ST Xingnong aims to lift the delisting risk warning and restore its healthy listing status as its core goal, and fully promote financial recovery, internal control rectification, main business quality improvement, and risk resolution
One is to focus on improving the quality and efficiency of the main business of agricultural machinery, optimizing product structure, expanding market channels, striving to improve the downward trend of operating income, and strictly controlling non essential expenses to alleviate liquidity pressure;
Secondly, we will comprehensively promote the rectification of accounting errors, complete the retrospective adjustment of financial data in the early stage, standardize revenue recognition and information disclosure, and actively cooperate with regulatory verification;
The third is to rectify internal control deficiencies, improve key systems such as fund approval, related party transactions, and external guarantees, strengthen full process control, and cooperate with accounting firms to complete annual financial reports and internal control audits;
The fourth is to revitalize existing assets by exiting non-profit subsidiaries, disposing of inventory goods, etc., increase efforts to collect accounts receivable, continue to promote cost reduction and efficiency improvement, resolve debt repayment pressure, and promote the injection of high-quality assets and business resources to improve sustainable operating capabilities;
The fifth is to strictly fulfill the obligation of information disclosure, actively accept supervision and market supervision. After the completion of the 2025 annual report audit and the achievement of financial indicators and audit opinions, the company will promptly apply to the Shanghai Stock Exchange to revoke the delisting risk warning.
Disclaimer: This article is compiled and published by Agricultural Machinery Network (www.nongjx. com), with sources: * ST Xingnong and Juchao Information. The purpose of publishing this information on this website is to spread more information and is not related to the position of this website. And we solemnly remind all readers that the stock market carries risks and investors need to be cautious. This article is not intended as a reference or basis for any investment.
