Jiangsu Zhongli returns to profitability, cleared of key regulatory issues

** Jiangsu Zhongli Group [SZSE:002309] reported a return to profitability in its 2024 Annual Report, marking a significant turnaround following a period of financial challenges. After a comprehensive audit, the company's equity attributable to shareholders improved to CNY 1.42 billion. Moreover, Jiangsu Zhongli has applied to the Shenzhen Stock Exchange to remove the delisting risk warning, having addressed previous concerns regarding its net asset position and issues identified in prior audit reports. With key regulatory obstacles cleared and its key personnel in place, the company plans to focus on its core photovoltaic and cable businesses, aiming to strengthen domestic and international market positions and foster sustainable growth through technological innovation and operational efficiency improvements. The company is also working towards resolving remaining compliance concerns, including past issues with internal controls and has submitted a plan to restore full compliance.