*ST Lingnan announced that as of September 29, 2026, the closing price of the company's stock had been below 1 yuan for 16 consecutive trading days, and there is a risk that the listing will be terminated because the stock price was below face value. If the closing price falls below 1 yuan for 20 consecutive trading days, the Shenzhen Stock Exchange will terminate the company's stock and “Lingnan Bonds Transfer” listing transactions, and will not enter the delisting period. The company's revenue in 2025 was 112 million yuan, down 86.99% year on year; net loss was 2,336 million yuan, and loss increased by 137.29% year on year. Revenue for the first half of 2026 was 58 million yuan, a year-on-year decrease of 67.44%; net loss was 284 million yuan, an increase of 121.35% year-on-year. “Lingnan Convertible Bonds” is no longer able to pay principal and interest on time. The company's principal and “Lingnan Convertible” credit ratings have all been downgraded to C, and the company has many risks such as continued operation and lawsuits.

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