Investors affected by losses can register for rights protection through the Sina Finance platform dedicated to investor claims, with access available via the official Sina Finance app, website, or social media channels.
**Star Wangda** (also identified as **StarNet Wangda**) (603189) recently disclosed its 2026 interim results, posting a 37.0% year-on-year increase in revenue to 175 million yuan. However, the company reported a net loss attributable to shareholders of 12.05 million yuan, marking a 349.9% decline compared to the previous year. In addition to its financial struggles, the firm is grappling with investor compensation claims following a decision by the Shanghai Stock Exchange to issue a notice of criticism against the company and its relevant responsible individuals. The censure was triggered by inaccuracies in the company's earnings forecast disclosure, with the firm, along with its then-chairman and general manager, then-finance director, and then-secretary of the board, being formally reprimanded.
The regulatory action is linked to a corrective announcement issued by the company. On April 16, 2026, Wangda Software published a revision to its 2025 annual performance forecast, significantly downgrading the initial estimate released at the end of January. This adjustment not only swung the company's non-GAAP net profit from a profit to a loss but also brought it perilously close to the delisting risk warning threshold, which triggers when annual revenue falls below 300 million yuan combined with negative net profit. Following the release of the 2025 annual report, the company's stock was consequently placed under the delisting risk warning designation (*ST).
According to the company's announcement, the revised forecast projected a non-GAAP net loss ranging from 2.5 million yuan to 1 million yuan for 2025, a stark contrast to the earlier expectation of a profit between 3.6 million yuan and 6 million yuan. Annual performance figures are critical information for investors, as they can substantially influence stock prices and investment decisions. The accuracy of whether revenue fell below 300 million yuan and whether non-GAAP net profit was negative directly impacts investors' assessments of a potential delisting risk warning. However, the inaccurate nature of the company's earnings forecast disclosure has clouded these judgments and skewed investor expectations.
Liu Peng, a lawyer at Shanghai Huzi Law Firm, commented that Wangda Software's dramatic performance reversal highlights issues of inaccuracy and opacity in how listed companies prepare their earnings forecasts. This situation, he noted, points to deficiencies in the company's financial management practices and internal controls. Investors who purchased shares between January 31, 2026, and April 16, 2026 (inclusive), and either sold them after April 17, 2026, or continue to hold them at a loss, are eligible to register for compensation claims.