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China News Network (Jingwei) March 30日电 After trading hours on March 30, Dayi Steel announced that its stock would resume trading from March 31 and be subject to delisting risk warning and the overlay of other risk warnings.

Dayi Steel announcement screenshot

Previously, due to the fact that Dayi Steel’s latest audited year-end net assets were negative, or after a retrospective restatement the latest audited year-end net assets were negative and the company had been loss-making for three consecutive years, the “2025 Annual Audit Report” issued by Tianjian Certified Public Accountants showed that the company’s ability to continue as a going concern was uncertain. According to regulations, Dayi Steel’s shares were suspended from March 30.

The Tianyancha app shows that Xinjiang Dayi Steel Co., Ltd. was established in 2000 and is an enterprise mainly engaged in the processing and rolling of ferrous metals. In addition, according to disclosures in the announcement, Dayi Steel focuses on the entire industrial chain business of steel smelting, rolling, processing, and sales.

In 2025, Dayi Steel’s operating revenue was RMB 18.748 billion, of which operating revenue from steel products was RMB 17.644 billion, accounting for 94.16% of operating revenue; net profit attributable to shareholders was -RMB 1.879 billion.

On January 30 this year, Dayi Steel stated that on January 30, the company, its controlling shareholder, and relevant parties received the “Administrative Penalty Decision” issued by the Xinjiang Regulatory Bureau of the China Securities Regulatory Commission.

2022 fiscal year, Dayi Steel and the controlling shareholder, the BaGang Group and its related parties, carried out related-party transactions involving non-operating intercompany fund transfers. Among them, Dayi Steel cumulatively received RMB 3.675 billion in transfers from BaGang Group, while Dayi Steel cumulatively transferred RMB 3.642 billion to BaGang Group.

2023 fiscal year, Dayi Steel and the controlling shareholder, the BaGang Group and its related parties, carried out related-party transactions involving non-operating intercompany fund transfers. Among them, Dayi Steel cumulatively received RMB 2.810 billion in transfers from BaGang Group, while Dayi Steel cumulatively transferred RMB 2.771 billion to BaGang Group.

2024 fiscal year, Dayi Steel and the controlling shareholder, the BaGang Group and its related parties, carried out related-party transactions involving non-operating intercompany fund transfers. Among them, Dayi Steel cumulatively received RMB 2.514 billion in transfers from BaGang Group, while Dayi Steel cumulatively transferred RMB 2.535 billion to BaGang Group.

The Xinjiang Securities Regulatory Bureau decided: to order Dayi Steel to make corrections, issue a warning, and impose a fine of RMB 3.0 million. To order BaGang Group to make corrections, issue a warning, and impose a fine of RMB 4.0 million. To give Wu Bin a warning and impose a fine of RMB 3.5 million, of which RMB 1.5 million is the fine imposed on the person in charge directly responsible as a supervisor officer for Dayi Steel, and RMB 2.0 million is the fine imposed on the person in charge directly responsible as a supervisor officer for BaGang Group. To give Ke Shansha a warning and impose a fine of RMB 1.0 million. To give Fan Guokang a warning and impose a fine of RMB 1.5 million. To give Liu Wenzhuang a warning and impose a fine of RMB 1.5 million.

In the secondary market, prior to the suspension, Dayi Steel was quoted at RMB 2.66 per share, with a total market capitalization of RMB 4.1 billion. (China News Network Jingwei APP)