"A-Share Focus" Piesat falls over 12% due to violations in drone procurement, banned from participating in military procurement for 3 years

Piesat has been suspended from participating in military procurement qualifications for three years due to violations in drone procurement, causing its stock price to plummet by 12.49%. The announcement did not disclose the specific details of the violations, and the suspension period will affect the company's bidding in specialized fields, which is expected to have a negative impact on its operating performance. In recent years, Piesat has faced declining performance and a debt crisis, with operating revenue in the first three quarters of 2025 down 70.06% year-on-year, net profit losses expanding to 366 million yuan, total liabilities reaching 3.615 billion yuan, and a debt-to-asset ratio as high as 80.05%