艾艾精密工业输送系统（上海）股份有限公司
2025年年度报告编制及最新审计进展详细解读
一、公告背景与核心内容
- 公司证券简称：*ST 艾艾，证券代码：603580，目前已被实施退市风险警示。
- 因触及《上海证券交易所股票上市规则》第9.3.2条第一款第（一）项，公司股票自2025年4月30日被实施退市风险警示。
- 公司2025年年度报告预约披露日为2026年4月27日，目前审计程序尚未完结，最终审计意见以中审亚太出具报告为准。
二、关键业务与财务进展
- 新增业务：2025年第四季度，公司新增新能源电池配件业务，实现营业收入5,915.84万元，其中2025年12月实现4,581.57万元。
- 应收账款风险：截至2025年12月31日，公司应收账款余额达6,532.52万元，现已有3,057.36万元逾期，逾期比例高，未来能否全额收回存在重大不确定性，或对公司现金流及资产安全产生影响。
- 收入确认风险：新能源电池配件业务的收入是否需要扣除，目前中审亚太仍在进一步核查，审计结果可能影响最终业绩。
- 商誉减值风险：公司因收购泰州中石信形成的商誉，在2025年资产负债表日出现减值迹象，相关假设与减值金额尚在确认中，该事项可能对利润造成压力。
- 股权投资公允价值变动：公司持有金锋馥3.2254%股权，因2024年度业绩不及预期，产生公允价值变动损失850万元。公司正准备转让该股权，但尚未签署正式协议，协议条款及能否达成均存不确定性，公允价值评估及其对净利润的影响仍有较大悬念。
三、重要风险提示
- 公司股票已被实施退市风险警示，存在退市风险。
- 新增业务应收账款逾期比例高、回款存在重大不确定性。
- 审计程序尚未结束，可能存在收入确认调整、商誉减值、股权公允价值影响利润等重大事项，直接影响公司财务状况及盈利能力。
- 金锋馥股权转让能否顺利签署及交易条款的不确定性，公允价值变动仍可能进一步影响公司未来利润。
四、公司最新安排与信息披露
- 公司已变更会计师事务所，聘任中审亚太开展2025年度审计及内部控制审计。
- 截至公告披露日，审计工作与年报编制正有序推进，尚未发现导致非标审计意见的事项，审计报告最终出具时间待定。
- 公司将继续及时披露年报及相关重大事项，请投资者密切关注公司指定披露媒体。
五、投资者需重点关注事项（可能影响股价）
- 公司已被实施退市风险警示，退市风险实质存在。
- 新能源电池配件业务虽带来新增收入，但应收账款逾期比例高，存在坏账风险，未来回款不确定。
- 收入确认与商誉减值、以及对外股权投资的减值均为重大财务事项，未来审计结果若确认减值或调整收入，可能进一步恶化公司盈利和资产状况。
- 金锋馥股权处置的不确定性和潜在损失，对公司净利润及资产影响重大。
- 所有上述事项均具备高度不确定性，对公司财务健康、盈利能力与股票估值构成重大影响，投资者需高度关注。
公司特别提醒：请广大投资者密切关注后续公告，注意投资风险，所有信息以公司在《证券时报》和上海证券交易所网站（www.sse.com.cn）公告为准。
免责声明：本文基于公司公告信息整理，内容仅供投资者参考，不构成任何投资建议。投资有风险，入市需谨慎。
AI Precision Conveying Systems (Shanghai) Co., Ltd.
Detailed Update on Compilation and Latest Audit Progress of 2025 Annual Report
1. Background and Key Announcements
- Stock short name: *ST AI, Stock code: 603580, currently under delisting risk warning.
- Company triggered the delisting risk warning under Article 9.3.2 (1) of the SSE Listing Rules, and the stock has been under risk warning since April 30, 2025.
- The scheduled disclosure date for the 2025 annual report is April 27, 2026. The audit is ongoing, and the final audit opinion is pending from Zhongshen Yatai CPAs.
2. Key Business and Financial Developments
- New Business: In Q4 2025, the company launched a new business in new energy battery components, generating revenue of CNY 59.16 million, with CNY 45.82 million recognized in December 2025 alone.
- Accounts Receivable Risks: As of December 31, 2025, accounts receivable reached CNY 65.33 million, with CNY 30.57 million already overdue. The high overdue ratio means future collection is highly uncertain and may impact cash flow and asset safety.
- Revenue Recognition Risks: Whether new energy battery component revenue needs to be deducted is under further audit investigation. Final results could affect reported earnings.
- Goodwill Impairment Risks: Goodwill from the acquisition of Taizhou Zhongshixin showed signs of impairment at year-end 2025. Assumptions and amounts are under confirmation; final impairment may pressure profits.
- Fair Value Loss on Equity Investments: Holding 3.2254% of Jinfengfu, the company suffered a CNY 8.5 million fair value loss in 2024 due to underperformance. The company is preparing to sell this stake, but no agreement is signed yet. Terms and completion are uncertain, and valuation’s impact on net income remains unclear.
3. Major Risk Alerts
- The stock is under delisting risk warning, with real risk of delisting.
- High proportion of overdue receivables from new business, raising bad debt and cash flow concerns.
- Audit is ongoing; income recognition, goodwill impairment, and equity valuation may significantly affect financials and profits.
- Uncertainty over Jinfengfu stake disposal and fair value loss may further affect profits and assets.
4. Latest Arrangements and Disclosure
- The company has appointed Zhongshen Yatai as auditor for 2025 financial and internal control audit.
- As of this announcement, audit and annual report preparation are in progress. No non-standard audit issues found yet, but audit report date is undetermined.
- The company will continue prompt disclosure of annual report and major events. Investors are urged to follow designated disclosure outlets closely.
5. Key Issues for Investors (Potential Price Movers)
- The company is under delisting risk warning, with real risk of delisting.
- While new business brings revenue, high overdue receivables mean significant risk of bad debt and uncertainty over collection.
- Pending audit results on revenue recognition, goodwill impairment, and equity fair value could further worsen profit and asset position.
- Uncertainty over Jinfengfu stake sale and potential losses may further impact net profit and asset value.
- All these issues carry high uncertainty, with major impact on financial health, profitability, and share valuation. Investors must pay close attention.
Special Reminder: Please pay close attention to further company disclosures and be mindful of investment risks. All official information is based on announcements in Securities Times and SSE website (www.sse.com.cn).
Disclaimer: This article is based on company announcements for reference only and does not constitute investment advice. Investment is risky; please act prudently.
View *ST艾艾 Historical chart here
