The company's low P/S ratio is attributed to its declining revenue, not keeping pace with the industry. Investors may believe the potential for revenue improvement doesn't justify a higher P/S ratio. Current medium-term conditions may continue to hinder the share price.

Shanghai XNG Holdings' recent revenue performance may not meet market expectations, leading to a suffering P/S ratio. The company's low P/S ratio is due to declining medium-term revenue. If this trend continues, the share price may not see significant movement soon.