Military stock Tianwei Electronics disclosed a material matters reminder announcement on the evening of September 30, stating that due to the impact of special matters, the company's business with a specific customer in a special field will be restricted until May 2027, which is expected to have a negative impact on the company's production, operations, and financial condition. The announcement also warned that if the company's main production and operating activities fail to return to normal within three months, the company will be subject to other risk warnings by the Shanghai Stock Exchange, namely ST designation, in accordance with relevant regulations. This specific customer contributes enormously to the company's revenue. In 2024, operating revenue from this customer was 73.0182 million yuan, accounting for 93.91% of the listed company's total revenue; in 2025, revenue from this customer rose to 142.5461 million yuan, with its share further increasing to 94.91%. The company is mainly engaged in the research, development, production, sales, and technical services of new fire suppression and explosion suppression systems, a certain three-defense general acquisition and drive device, high-energy aviation ignition discharge devices, high-precision fuse devices, and other products, which are widely used in ordnance, aviation, aerospace, shipbuilding, electronics, and other fields. The company's performance has fluctuated sharply in recent years. In 2024, full-year revenue fell to 77.7565 million yuan, a year-on-year decline of more than 44%, with a net loss attributable to the parent company of 26.1124 million yuan. The stock has been subject to delisting risk warning since May 6, 2025, and its securities abbreviation was changed to ST Tianwei. In 2025, the company achieved full-year operating revenue of approximately 150 million yuan, a year-on-year increase of 93.16%, and net profit attributable to the parent company of 34.1334 million yuan, turning from loss to profit year-on-year, and officially removed the asterisk and cap on April 21, 2026. However, in the first half of 2026, the company's revenue fell to 29.5274 million yuan, a year-on-year decline of more than 60%, and net profit attributable to the parent company was only 1.6325 million yuan, a year-on-year decline of 94.12%.
Sichuan Tianwei Electronic Co LtdBusiness with its dominant customer (over 93% of revenue) is restricted until May 2027, risking ST designation if operations don't normalize within three months.
