*ST Yijing Triggers Delisting Risk Warning, Trading Restrictions Imposed After Share Resumption

Yijing Optoelectronics Hit with Delisting Risk Warning as Stock Officially Resumes Trading

According to 36Kr, *ST Yijing (formerly "Yijing Optoelectronics") announced that its stock officially resumed trading on April 29, 2026. Due to the company's audited net assets of -89.3626 million yuan at the end of 2025, it has triggered the relevant delisting risk warning conditions, and its stock trading will be subject to a series of restrictions.

Key Changes: Ticker Rename and Trading Restrictions

According to the announcement, the changes primarily involve the following aspects:

• Stock ticker change: The ticker has been officially changed from "Yijing Optoelectronics" to "*ST Yijing," signaling that the company has entered the delisting risk warning phase.
• Tighter price fluctuation limits: The daily price fluctuation limit has been adjusted from the original 10% to 5%, significantly compressing the trading volatility range.
• Trading board transfer: The company's stock will be transferred to the risk warning board for trading, and investors must activate the corresponding permissions to participate in buying and selling.

Negative net assets is one of the key indicators that triggers delisting risk warnings in the A-share market. *ST Yijing's audited net assets of -89.3626 million yuan at the end of 2025 means the company's liabilities have exceeded its total assets, placing its financial condition under severe strain.

Industry Background: Continued Pressure on the Photovoltaic Sector

As a long-established player in China's photovoltaic industry, Yijing Optoelectronics primarily engages in the research, development, production, and sales of solar cell modules. In recent years, the photovoltaic industry has faced multiple challenges, including overcapacity and intensifying price wars, with profit margins across the supply chain being significantly squeezed. Many small and mid-sized PV companies have found themselves in operational difficulties.

Against the backdrop of a deep industry-wide adjustment in the photovoltaic sector, Yijing Optoelectronics' financial condition continued to deteriorate, ultimately leading to negative net assets and the imposition of the delisting risk warning. This also reflects the accelerating formation of a "survival of the fittest" competitive landscape in the current PV industry.

Risks Investors Should Watch

For investors holding or monitoring *ST Yijing, the following risks deserve particular attention:

1. Delisting risk: If the company fails to improve its financial condition and restore positive net assets within the prescribed timeframe, it may face termination of its listing.
2. Liquidity risk: After being transferred to the risk warning board, stock trading activity typically declines significantly, and investors may face difficulties selling their shares.
3. Going-concern risk: Negative net assets indicate severely insufficient debt repayment capacity, and there is considerable uncertainty about whether the company can sustain its operations going forward.

Outlook

Whether *ST Yijing can restore positive net assets in subsequent fiscal years and have its delisting risk warning removed will depend on whether the company can effectively pursue key measures such as asset restructuring, debt resolution, or business transformation. During this critical period of accelerated consolidation in the photovoltaic industry, every decision the company makes will directly determine whether it can remain listed on the A-share market.

Investors are advised to closely follow the company's subsequent announcements, rationally assess investment risks, and make prudent investment decisions.