ST Huapeng: Stock price hitting the limit up indicates losses in performance and delisting risks.

ST Huapeng announced that its stock price hit the limit up for two consecutive trading days on February 3-4, 2026, with large price fluctuations and a higher increase compared to the Shanghai Stock Index during the same period. The performance forecast on January 24, 2026 showed an estimated net loss of -2.63 billion to -1.94 billion yuan for 2025, and a net asset of -2.08 billion to -1.39 billion yuan at the end of the period, resulting in loss and negative net assets. Based on calculations, the company's stock may be subject to delisting risk warning by the Shanghai Stock Exchange after the disclosure of the 2025 annual report. As of the announcement date, there have been no significant changes in the company's main operations and management, and there are no significant undisclosed matters that should be disclosed.