*ST Wintech Posts 623 Million Yuan Net Loss for First Three Quarters of 2026

The swing from a 1.5 billion yuan profit to a 623 million yuan loss, paired with a 93% revenue collapse, shows how quickly a divested business line and unresolved control issues at Nexperia can reshape a company's economics — this is a structural break, not a cyclical dip. The key question is whether the Nexperia situation is a temporary operational constraint or a lasting one, since that determines whether the reduced scale is a new baseline or a transitional state. The divergence between the profit comparison and the revenue collapse also warrants scrutiny of what non-operating items are doing the work.