*ST Jinshi has announced the company will be delisted from the Shenzhen Stock Exchange, effective from May 23, 2025. This decision follows a series of warnings and notifications related to financial performance and compliance.
On May 22, 2023, *ST Jinshi (002951.SZ) reported that it had received a delisting warning from the Shenzhen Stock Exchange. The company, previously known as *ST Jinshi, will now be referred to as Jinshi Technology, retaining its stock code of 002951. The trading limit for its shares has been adjusted from 5% to 10%.
Since being marked for delisting, *ST Jinshi has struggled with its operational status. The company has worked towards establishing a comprehensive energy storage system, focusing on developing advanced technologies and manufacturing capabilities. It aims to enhance its presence in the renewable energy sector and has committed to providing innovative energy solutions.
As of March 2024, the company has faced significant challenges, which have impacted its revenue and market position. Recent financial evaluations suggest that *ST Jinshi is contending with substantial losses, with projections indicating a revenue drop of 1622.48 million yuan and an operating loss of 439.70 million yuan. The company is attempting to stabilize its financial status while navigating through these operational hurdles.
Looking ahead, *ST Jinshi aims to improve its financial health and operational efficiency by leveraging its expertise in the renewable energy sector. The management plans to implement strategies that focus on resource optimization and expanding its market reach in the energy solutions industry.
In summary, *ST Jinshi is undergoing critical changes as it prepares for delisting while striving to pivot towards a more sustainable business model in the renewable energy sector.
Original article by NenPower, If reposted, please credit the source: https://nenpower.com/blog/st-jinshis-business-faces-suspension-as-company-transitions-to-new-energy-focus/
