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Maiqu'er reported revenue of 6.01 billion yuan in 2025, a year-on-year decrease of 5.39%. The gross profit margin increased by 6.31 percentage points, and the losses narrowed.
In 2025, Maiqu'er generated revenue of 6.01 billion yuan (-5.39%) and a net loss attributable to shareholders of 1.03 billion yuan (a 55.42% reduction in losses), mainly due to the gross margin increasing to 22.48% and government subsidies amounting to 10.4878 million yuan providing support. However, the net operating cash flow was -12.72 million yuan, with a current ratio of only 0.21, indicating extreme liquidity pressure and significant uncertainty regarding continued operations.
Maiqier: First Quarter Report for 2026
Maiqier: 2025 Annual Report
Maiqier: Summary of the 2025 Annual Report
April 13 A-share Investment Risk Alert | *ST Yehdao: Shares may be delisted; Guang'an Aizhong: Director Li Changbing has been placed under detention and has resigned.
Shareholder Wang Xiangwei of Shen Kai Co., Ltd. plans to reduce his stake by no more than 1.9814%; shareholder Sinopec Group of China Merchants Energy Shipping Co., Ltd. intends to reduce its holdings by a combined total of no more than 80.7454 million shares; shareholder Anyuan Investment of Jing Song Intelligent Technology Co., Ltd. plans to reduce its stake by no more than 2.6838%; shareholder Shanfa Green of Hengyu Environmental Protection Co., Ltd. intends to reduce its holdings by no more than 794,000 shares; shareholders Bai Bifu, Qian Bifu, and Yi Bifu of Hengxuan Technology Co., Ltd. have collectively reduced their holdings by 1.1069 million shares; shareholder Chen Keyu of Taihong Wanli Co., Ltd. plans to reduce his stake by no more than 1.1 million shares; Maiqu'er Company has been listed as a dishonest executor; director Li Changbing of Guang'an Aizhong has been placed under detention and has resigned; Haitai Development stock will
Maiquier: 2025 Annual Performance Forecast