*ST Lingnan announced that the “Lingnan Convertible Bonds” have matured and are unable to pay principal and interest on schedule, and that both the principal and debt have a C credit rating. The company's revenue in 2025 was 112 million yuan, down 86.99% year on year, net loss was 2,336 million yuan, and loss increased 137.29% year on year; revenue for the first three quarters of 2026 was 102 million yuan, down 59.81% year on year, net loss was 411 million yuan, and loss increased 99.42% year on year. Since the closing price of the company's shares was less than 1 yuan for 20 consecutive trading days, the trading was forced to be delisted. Currently, trading is suspended. The Shenzhen Stock Exchange plans to terminate the listing of the company's shares and Lingnan bonds. There is uncertainty about the establishment and realizable value of the company's credit enhancement plan against pledged assets. There are many lawsuits involved, and there are risks of continued operation and litigation.

*ST Lingnan announced that the “Lingnan Convertible Bonds” have matured and are unable to pay principal and interest on schedule, and that both the principal and debt have a C credit rating. The company's revenue in 2025 was 112 million yuan, down 86.99% year on year, net loss was 2,336 million yuan, and loss increased 137.29% year on year; revenue for the first three quarters of 2026 was 102 million yuan, down 59.81% year on year, net loss was 411 million yuan, and loss increased 99.42% year on year. Since the closing price of the company's shares was less than 1 yuan for 20 consecutive trading days, the trading was forced to be delisted. Currently, trading is suspended. The Shenzhen Stock Exchange plans to terminate the listing of the company's shares and Lingnan bonds. There is uncertainty about the establishment and realizable value of the company's credit enhancement plan against pledged assets. There are many lawsuits involved, and there are risks of continued operation and litigation.