Jiangsu Boamax Technologies Group Co Ltd: Recent Financial Developments

Jiangsu Boamax Technologies Group Co Ltd, a Suzhou-based company specializing in industrial-grade computer numerical control sheet metal structure products, has been in the spotlight due to several recent financial developments. The company, listed on the Shenzhen Stock Exchange, has experienced significant fluctuations in its stock price, with a 52-week high of 10.25 CNH and a low of 3.55 CNH. As of June 17, 2025, the close price was 52.6 CNH, with a market capitalization of 4.07 billion CNH.

Financial Challenges and Asset Impairment

On June 19, 2025, Boamax Technologies disclosed that its substantial losses were primarily due to asset impairment provisions. The company attributed these losses to the impairment of assets related to ongoing photovoltaic construction projects. Despite a total revenue of over 3 billion CNH in 2024, the company reported losses exceeding 7 billion CNH. This significant discrepancy has raised concerns among investors, prompting inquiries about the financial health and strategic direction of the company.

Stock Performance and Market Movements

In a notable market movement, Boamax Technologies’ stock reached its daily price limit on June 19, 2025. This surge was part of a broader trend where 24 A-shares surpassed their annual line, with Boamax Technologies being one of the standout performers. The company’s strategic focus on “smart manufacturing + new energy” and its efforts to integrate “light, storage, charging, and swapping” into its digital energy business have been highlighted as key drivers of its recent stock performance.

Acquisition and Shareholding Developments

Boamax Technologies faced a setback in its acquisition plans when its attempt to acquire a 40% stake in Jiangsu Yisudu Integrated Circuit Equipment Co., Ltd. was unilaterally terminated by the counterparty. This development has led to ongoing negotiations between the two parties to resolve the situation.

Additionally, the company’s controlling shareholder, Jiangsu Linqing, has seen a significant portion of its shares pledged. As of the latest disclosure, 82.42% of Jiangsu Linqing’s holdings, amounting to 16 million shares, have been pledged, representing 22.17% of Boamax Technologies’ total share capital. This development could have implications for the company’s governance and financial stability.

Conclusion

Jiangsu Boamax Technologies Group Co Ltd is navigating a complex financial landscape, marked by asset impairments, strategic acquisitions, and significant shareholding changes. Investors and stakeholders will be closely monitoring the company’s ability to address these challenges and capitalize on its strategic initiatives in the industrial machinery sector. For more detailed information, stakeholders are encouraged to visit the company’s website at www.boamax.com .