--- title: "[Caitong AH] Mingde Biology's performance has turned around and transformed into ST, being removed from the margin trading list, and will face delisting risk" type: "News" locale: "en" url: "https://longbridge.com/en/news/283609179.md" description: "Mingde Biology announced on April 21 that starting from April 22, it will implement a delisting risk warning, and the stock abbreviation will change to *ST Mingde, with a daily price fluctuation limit of 5%. The Shenzhen Stock Exchange has decided to remove it from the margin trading list starting April 22, 2026, and investors will not be able to buy on margin or sell short. The company's net profit attributable to the parent in 2025 was a loss of 16.4607 million yuan, with operating revenue of 265 million yuan, triggering the delisting risk warning conditions. The reasons for the performance loss include price declines after centralized procurement, difficulties in customer payments, and inventory impairment. If the financial indicators continue to deteriorate in 2026, it will face the risk of termination of listing" datetime: "2026-04-22T06:31:20.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/283609179.md) - [en](https://longbridge.com/en/news/283609179.md) - [zh-HK](https://longbridge.com/zh-HK/news/283609179.md) --- # [Caitong AH] Mingde Biology's performance has turned around and transformed into ST, being removed from the margin trading list, and will face delisting risk On April 21, Mingde Biology announced that starting from the 22nd, it would be subject to delisting risk warning, with its stock abbreviation changed from "Mingde Biology" to "\*ST Mingde," and the daily price fluctuation limit set at 5%. However, perhaps due to the negative news already being reflected, the stock opened 1% higher on the 22nd. According to relevant regulations, the Shenzhen Stock Exchange has decided to remove Mingde Biology from the list of securities eligible for margin trading starting April 22, 2026. This means that investors will no longer be able to buy the stock on margin or sell it short. According to the annual report, the company's net profit attributable to shareholders for 2025 was a loss of 16.4607 million yuan, with a non-recurring net profit loss of 117 million yuan, and operating revenue of 265 million yuan, with the adjusted operating revenue being 241 million yuan. According to relevant regulations, the company's financial indicators for 2025 triggered the delisting risk warning due to "the lowest of the total audited profit, net profit, and net profit after deducting non-recurring gains and losses being negative, and the adjusted operating revenue being less than 300 million yuan." Regarding the performance loss, Mingde Biology stated that product prices fell after centralized procurement, and industry competition intensified; difficulties in customer payments increased credit risk, leading to provisions for bad debts for some high-risk customers; some inventories and fixed assets showed signs of impairment, leading to provisions for inventory write-downs and fixed asset impairment; continuous capacity expansion resulted in a large amount of fixed assets, leading to higher depreciation expenses. If Mingde Biology has "the lowest of the audited total profit, net profit, and net profit after deducting non-recurring gains and losses being negative, and the adjusted operating revenue being less than 300 million yuan" or "the audited net assets at the end of the period being negative" in 2026, the company's stock will face the risk of termination of listing. Previously, in January, Mingde Biology had anticipated a profit for the previous year, but in March, it announced a reversal, stating it would incur a loss and that revenue was expected to be below 300 million yuan. On January 30, Mingde Biology had projected that the net profit attributable to shareholders for 2025 would decline but remain profitable; however, it expected a non-recurring net profit loss of 98 million to 78 million yuan. On March 22, Mingde Biology suddenly significantly revised its performance expectations, changing the projected net profit attributable to shareholders from profit to loss, and the expected non-recurring net profit loss expanded. Additionally, the company projected that the adjusted operating revenue would be between 237 million and 297 million yuan. The company explained that the reasons for the revision were mainly twofold: some transactions had significant uncertainty regarding accounts receivable collections, and out of caution, the corresponding revenue would not be recognized in the 2025 fiscal year; furthermore, after conducting impairment tests on assets showing signs of impairment, the corresponding adjustments to asset impairment loss amounts were made. The correction announcement also indicated that the expected adjusted operating revenue would be between 237 million and 297 million yuan—meaning even the highest forecast value is below 300 million yuan. The reporter noted that in recent months, Mingde Biology has been active in mergers and acquisitions. On December 30 of last year, Mingde Biology announced its intention to acquire 100% of the equity of Wuhan Bikaier in cash, which is expected to constitute a significant asset reorganization Data shows that Wuhan Bikaier is one of the earlier companies to introduce the international First Aid concept and technology, comprehensively laying out emergency equipment, emergency products, and emergency services in the emergency rescue business. On January 19th of this year, Mingde Biology announced that it plans to acquire 51% of Hunan Lanyi's equity through capital increase and equity acquisition for 35.701 million yuan. Hunan Lanyi focuses on the R&D, production, and service of IVD instruments and reagents, particularly possessing core technology in the field of glycated hemoglobin testing. The company stated that this acquisition is beneficial for building a closed-loop service for "acute and critical illness + chronic disease management." ### Related Stocks - [002932.CN](https://longbridge.com/en/quote/002932.CN.md) ## Related News & Research - [UK regulator sanctions auditor of metals magnate Sanjeev Gupta's GFG Alliance](https://longbridge.com/en/news/290550866.md) - [CATL plans about 36 battery swap stations in Hong Kong by 2030](https://longbridge.com/en/news/290802597.md) - [17:16 ETMilliken Advances Fabric Whitening Performance with Millibrite® Technology](https://longbridge.com/en/news/290881426.md) - [Glenstar Minerals plans Terēan shear-wave seismic survey at Green Monster project](https://longbridge.com/en/news/290835011.md) - [ZAWYA: Abu Dhabi Biobank and BioTwin announce strategic partnership to expand human virtual twin technology in the UAE](https://longbridge.com/en/news/290948225.md)