星光农机股份有限公司（*ST 星农）2025年度报告编制及最新审计进展深度披露

证券代码：603789

公告编号：2026-019

发布日期：2026年4月13日

一、报告核心要点

• 退市风险警示持续：因2024年度经审计的扣非前后净利润均为负值，且扣除与主营业务无关和不具商业实质收入后的营业收入低于3亿元，公司股票自2025年5月6日起被实施退市风险警示。
• 2025年年报若未达标将面临终止上市：如2025年年度报告出现上交所上市规则第9.3.7条规定的情形，公司股票将可能被终止上市。
• 叠加其他风险警示：公司因收到中国证监会浙江监管局的行政处罚，公司股票被叠加实施其他风险警示，风险等级进一步提升。
• 年报与审计进度详细披露：公司与审计机构上会会计师事务所持续推进2025年度年报和审计工作，现场走访、存货监盘及大部分内控审计工作已完成，收入穿透、审计函证、成本核查等关键环节仍在进行。
• 尚未发现重大分歧：截至当前，审计机构未与公司在重大会计处理、关键审计事项、审计意见类型等方面存在重大分歧。
• 后续审计重点：将继续聚焦营业收入确认、应收账款减值、成本核查等关键领域，确保获取充分、适当的审计证据。

二、对投资者的重大影响及需关注事项

• 严重退市风险警示：公司目前处于退市风险警示状态，若2025年年报未达标，存在被终止上市的极大可能性，投资者应高度关注。
• 行政处罚及叠加风险警示：2026年3月，公司因违反相关法规，已收到证监会浙江监管局的行政处罚决定，股票被叠加实施其他风险警示，进一步加剧公司持续经营的不确定性。
• 审计尚未完成，财务数据及审计意见存在不确定性：目前审计尚在进行中，最终2025年度财务数据和审计意见以公司正式披露为准，前期业绩预告仅为初步数据，存在变动风险。
• 审计重点领域为收入确认、应收账款和成本核查：任何相关领域出现重大问题都可能影响年报最终结论及公司去留。
• 重要时间节点：2025年年报预约披露日期为2026年4月25日。
• 信息披露渠道：公司提醒投资者，所有信息以公司在上交所网站及指定公告媒体为准。

三、详细进展与未来展望

1. 2025年度审计机构为上会会计师事务所，相关议案已于董事会与股东大会通过。
2. 2026年初，公司审计委员会、独立董事及管理层与审计机构多次沟通，确保审计工作的顺利推进。
3. 截至公告发布日，审计机构已完成现场走访、存货监盘和大部分内控审计，收入穿透、函证、成本核查工作仍在进行，并对所得资料进行汇总与分析。
4. 审计机构表示，目前未发现与公司在重大会计处理、关键事项、审计意见类型等方面存在重大分歧。
5. 年报编制及审计工作将继续推进，重点聚焦营收确认、应收账款减值、成本核查等关键领域。
6. 公司将严格履行信息披露义务，及时公告相关进展，请投资者密切关注。

四、结论与风险提示

综合来看，星光农机当前正处于极为严峻的退市风险警示阶段，同时叠加行政处罚及其他风险警示，财务及经营状况充满高度不确定性。年报及审计最终结论将直接决定公司能否继续上市，投资者需高度警惕相关风险，关注正式公告，谨慎决策。任何负面进展都可能对股价造成重大影响。

免责声明：本文基于星光农机股份有限公司官方公告公开信息整理，仅供投资者参考，不构成任何投资建议。投资者应以公司在上海证券交易所网站及指定公告媒体刊登的正式信息为准，注意投资风险。

English Version

Starlight Agricultural Machinery (*ST Xingnong): Key Developments in 2025 Annual Report and Audit Progress

Stock Code: 603789

Announcement No.: 2026-019

Date of Disclosure: April 13, 2026

Main Highlights

• Delisting Risk Warning Continues: Due to negative net profit (before and after extraordinary items) for 2024 and operating revenue below RMB 300 million (excluding non-core and non-substantive business income), the company’s shares have been under delisting risk warning since May 6, 2025.
• Possible Delisting if 2025 Report Fails to Meet Standards: Should the 2025 annual report trigger the circumstances stipulated in Shanghai Stock Exchange Listing Rule 9.3.7, the company’s listing may be terminated.
• Additional Risk Warnings: In March 2026, the company received an administrative penalty from Zhejiang CSRC, resulting in an additional risk warning being imposed on its shares.
• Detailed Audit Progress: The company and its auditor (Shanghai Certified Public Accountants) have been pushing forward with the 2025 annual report and audit. On-site visits, inventory checks, and most internal control audits are complete, but key tasks such as income verification, confirmation letters, and cost verification are ongoing.
• No Major Disagreement Detected So Far: To date, the auditor has not found any major disagreements with the company regarding critical accounting treatments, key audit matters, or audit opinion types.
• Audit Focus Areas: Ongoing work will focus on revenue recognition, impairment of receivables, and cost verification to obtain sufficient and appropriate audit evidence.

Key Issues for Investors and Potential Price-Sensitive Points

• Severe Delisting Risk: The company is currently under delisting risk warning. If the 2025 annual report fails to meet the requirements, there is a significant chance of forced delisting. Investors should pay close attention.
• Administrative Penalty and Additional Risk Warning: In March 2026, the company received an administrative penalty from the CSRC Zhejiang Bureau, and its shares are now subject to an additional risk warning, further increasing operational uncertainty.
• Audit Incomplete, Financial Data and Audit Opinion Uncertain: The audit is still in progress. Final financial data and the type of audit opinion will depend on the formal disclosure. The previously announced performance forecast is preliminary and subject to change.
• Key Audit Areas: Revenue recognition, receivables, and cost verification are under intensive scrutiny. Any negative findings may have a major impact on the annual report outcome and the company’s listing status.
• Important Dates: The scheduled disclosure date for the 2025 annual report is April 25, 2026.
• Information Channels: Investors are reminded that all official information is subject to disclosure on the SSE website and designated media.

Detailed Progress and Outlook

1. The 2025 auditor remains Shanghai Certified Public Accountants, as approved by the board and shareholders.
2. In early 2026, the audit committee, independent directors, management, and the auditor held multiple meetings to ensure the smooth progress of the annual audit.
3. As of this announcement, the auditor has completed on-site checks, inventory counts, and most internal control audits. Income verification, confirmation letters, and cost checks are ongoing, with evidence and working papers being summarized and analyzed.
4. The auditor has stated no major disagreement with the company to date regarding key accounting matters or audit opinion types.
5. Work will continue to focus on revenue recognition, impairment of receivables, and cost verification.
6. The company will strictly fulfill information disclosure obligations and update investors in a timely manner—investors are urged to stay alert to developments.

Conclusion and Risk Warning

In summary, Starlight Agricultural Machinery is facing severe delisting risk, compounded by regulatory penalties and additional risk warnings. Financial and operational uncertainty remains high. The outcome of the annual report and audit will directly determine whether the company can remain listed. Investors must be highly cautious and watch for official disclosures. Any negative findings may have a material impact on the stock price.

Disclaimer: This article is compiled based on publicly available information from Starlight Agricultural Machinery Co., Ltd. and is for reference only. It does not constitute investment advice. Investors should rely on official information disclosed on the SSE website and designated media and be aware of investment risks.

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