Core Viewpoint - ST Guangwu (stock code: 600603) announced a one-day suspension of trading on October 28, with the removal of other risk warnings starting October 29, and the stock name changed to "Guanghui Logistics" [1][4] Group 1: Regulatory Actions and Financial Misconduct - On August 31, 2024, Guanghui Logistics received a notice from the China Securities Regulatory Commission (CSRC) regarding administrative penalties for financial misconduct, including falsifying delivery documents to prematurely recognize real estate revenue, resulting in inflated income, costs, and profits [2] - The inflated figures included a 2.894 billion yuan increase in revenue for 2022, accounting for 57.65% of reported revenue, and a 622 million yuan increase in profit, representing 78.52% of total profit for the same period [2] - The CSRC imposed a fine of 5 million yuan on the company and 9.8 million yuan on responsible individuals, with the former chairman Yang Tiejun banned from the securities market for five years due to severe violations [2] Group 2: Financial Performance - As of October 25, 2025, Guanghui Logistics reported a revenue of 2.051 billion yuan for the first three quarters, a year-on-year decrease of 20.09%, and a net profit of 318 million yuan, down 24.55% year-on-year [5] - The decline in profit is attributed to the company's gradual exit from the real estate sector, which saw a significant reduction in revenue, while the energy logistics segment experienced a 38.95% increase in railway transport volume [5] - The stock closed at 8.72 yuan per share on October 27, with a total market capitalization of 10.4 billion yuan [6]

胜利股份为一间于中国成立的股份有限公司，其已发行股份于深圳证券交易所主板上市及买卖(股份代 号：000407)，集团持有其已发行股份约22.16% 。 智通财经APP讯，中油燃气(00603)发布公告，于2025年10月27日，中油燃气投资集团有限公司(中油投 资)、天达利通新能源(珠海)有限公司(天达利通)、中油中泰燃气投资集团有限公司(中油中泰)与山东胜 利股份有限公司(胜利股份)订立发行股份及支付现金购买资产意向协议，据此，胜利股份拟通过发行股 份及支付现金方式购买集团持有的若干附属公司的股权。 建议交易事项包括胜利股份收购以下公司股权：(1)中油投资持有的中油燃气(珠海横琴)有限公司(中油 珠海)100%股权;(2)天达利通持有的天达胜通新能源(珠海)有限公司(天达胜通)100%股权;(3)中油中泰持 有的南通中油燃气有限责任公司(南通中油)51%股权;(4)中油中泰持有的青海中油甘河海工业园区燃气有 限公司(甘河中油)40%股权。 ...

Core Viewpoint - China Oil Gas (00603) announced a share issuance and cash payment agreement with Shandong Shengli Co., Ltd. for the acquisition of several subsidiaries [1] Group 1: Transaction Details - The agreement involves Shengli Co. acquiring 100% equity of China Oil Gas (Zhuhai Hengqin) Co., Ltd. from China Oil Investment [1] - Shengli Co. will also acquire 100% equity of Tianda Shengtong New Energy (Zhuhai) Co., Ltd. from Tianda Litong [1] - Additionally, Shengli Co. will purchase 51% equity of Nantong China Oil Gas Co., Ltd. and 40% equity of Qinghai China Oil Ganhai Industrial Park Gas Co., Ltd. from China Oil Zhongtai [1] Group 2: Company Background - Shengli Co. is a publicly listed company in China, with its shares traded on the Shenzhen Stock Exchange under the stock code 000407 [1] - The group holds approximately 22.16% of Shengli Co.'s issued shares [1]

Core Viewpoint - China Oil Gas Group Limited (中油燃气) has entered into a share issuance and cash payment agreement with Shandong Shengli Co., Ltd. for the acquisition of stakes in several subsidiaries, indicating a strategic move to consolidate assets and enhance operational capabilities [1] Group 1: Transaction Details - The agreement involves Shengli Co. acquiring 100% equity of China Oil Gas (Zhuhai Hengqin) Co., Ltd. (中油珠海) held by China Oil Investment, 100% equity of Tianda Shengtong New Energy (Zhuhai) Co., Ltd. (天达胜通) held by Tianda Li Tong, 51% equity of Nantong China Oil Gas Co., Ltd. (南通中油) held by China Oil Zhongtai, and 40% equity of Qinghai China Oil Ganhai Industrial Park Gas Co., Ltd. (甘河中油) also held by China Oil Zhongtai [1] Group 2: Company Background - Shengli Co. is a publicly listed company in China, with its shares traded on the Shenzhen Stock Exchange under the stock code 000407, and China Oil Group holds approximately 22.16% of its issued shares [1]

公司董事（「董事」）局（「董事局」）欣然宣佈，於二零二五年十月二十七日，中油 燃氣投資集團有限公司（「中油投資」）、天達利通新能源（珠海）有限公司（「天 達利通」）、中油中泰燃氣投資集團有限公司（「中油中泰」）與山東勝利股份有 限公司（「勝利股份」）訂立發行股份及支付現金購買資產意向協議（「意向書」）， 據此，勝利股份擬通過發行股份及支付現金方式購買集團持有的若干附屬公 司的股權（「建議交易事項」）。 建議交易事項包括勝利股份收購以下公司股權： (1) 中油投資持有的中油燃氣（珠海橫琴）有限公司（「中油珠海」）100%股權； (2) 天達利通持有的天達勝通新能源（珠海）有限公司（「天達勝通」）100%股權； 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確 性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或 因倚賴該等內容而引致的任何損失承擔任何責任。 （於百慕達註冊成立之有限公司） （股份代號：603） * 意向書 本公告乃由中油燃氣集團有限公司（「公司」，連同其附屬公司統稱「集團」）根 據香港聯合交易所有限公司證券上市規則第13.09條及香港法 ...

Core Viewpoint - ST Guangwu (600603) is set to remove its "ST" designation, indicating a recovery from previous financial issues, with stock trading resuming on October 29, 2025, under the new name "Guanghui Logistics" [2][4]. Group 1: Stock and Regulatory Changes - The Shanghai Stock Exchange has agreed to lift the risk warning on the company's stock, allowing for a change in trading limits from 5% to 10% after the removal of the risk warning [3][4]. - The stock will be suspended for one day on October 28, 2025, and will resume trading on October 29, 2025 [2][3]. Group 2: Financial Restatement and Penalties - In August 2024, the company received a notice from the China Securities Regulatory Commission (CSRC) regarding administrative penalties for inflating revenue through falsified delivery documents, affecting its 2022 and 2023 financial reports [3][4]. - The 2022 financials showed inflated revenue of 2.894 billion, accounting for 57.65% of reported revenue, with inflated profits of 622 million, representing 78.52% of total profits [3][4]. - The 2023 interim report indicated inflated revenue of 265 million, which was 19.23% of reported revenue, with inflated profits of 55.6 million, or 15.98% of total profits [3][4]. Group 3: Business Operations and Performance - ST Guangwu has taken corrective measures over the past year to address the issues leading to the penalties, and has completed the necessary restatements [4]. - The company has not faced any investor lawsuits that would require the recognition of contingent liabilities [4]. - The main business segments include energy logistics, real estate, and logistics collaboration, with energy logistics being the core focus [4]. - The company reported a revenue of 2.051 billion for the first three quarters of the year, a decrease of 20.09% year-on-year, and a net profit of 318 million, down 24.55% [5].

Group 1 - ST Guangwu (600603.SH) announced that its stock will be suspended for one day on October 28, 2025, and will resume trading on October 29, 2025 [1] - Following the suspension, the company will remove other risk warnings, and the stock's A-share abbreviation will change from "ST Guangwu" to "Guanghui Logistics," while the stock code remains "600603" [1] - After the removal of risk warnings, the stock will be transferred out of the risk warning board for trading, and the daily price fluctuation limit will increase from 5% to 10% [1]

公示期：2025年10月14日至2025年10月23日 联系邮箱：jyzjz@samr.gov.cn ...

Core Viewpoint - LNG oil-to-gas conversion is a significant direction for clean energy transition, utilizing the low-temperature liquid characteristics of LNG for efficient storage and transportation, while significantly reducing pollutant emissions and fuel costs [1][2] Industry Overview - LNG oil-to-gas conversion refers to the process of retrofitting traditional fuel-driven vehicles to use liquefied natural gas (LNG) as the primary fuel, leveraging LNG's low-temperature liquid properties for efficient storage and combustion [2][3] - Compared to traditional fuels, LNG combustion results in a significant reduction in emissions, with nitrogen oxides reduced by 85% and particulate matter by 95%, while fuel costs can decrease by 30%-55% [2] Policy Analysis - China has implemented multiple top-level policies, such as the "2030 Carbon Peak Action Plan," to support the LNG oil-to-gas industry, focusing on energy structure optimization and infrastructure improvement [5][6] - Local policies, like the LNG refueling station layout plan in Hunan Province, aim to address refueling bottlenecks and enhance user confidence in LNG vehicles [5] Industry Chain - The LNG oil-to-gas industry chain consists of upstream gas source development, midstream storage and transportation infrastructure, and downstream application expansion [6] - Upstream includes natural gas extraction and importation, while midstream focuses on vehicle retrofitting and LNG refueling infrastructure [6] Current Development Status - China's energy structure shows a "rich coal, poor oil, and scarce gas" characteristic, leading to a growing supply-demand gap for natural gas [7] - LNG demand has rapidly increased due to policies promoting "coal-to-gas" and "oil-to-gas" transitions, with LNG's superior peak-shaving capabilities making it a key transitional energy source [7][8] Market Performance - The LNG oil-to-gas market is projected to grow significantly, with an estimated market size of approximately 760 billion yuan in 2024, expected to reach around 900 billion yuan by 2025 [9] - The number of LNG refueling stations is anticipated to exceed 7,000 by 2025, enhancing the refueling network across the country [8][9] Future Trends - The industry is expected to evolve towards three main trends: intelligent upgrades across the entire chain, low-carbon and hydrogen energy integration, and regional market differentiation alongside global resource integration [10][11][12] - Intelligent upgrades will enhance efficiency and safety through advanced technologies like IoT and AI, while low-carbon initiatives will focus on integrating LNG with renewable energy sources [10][11] - The market will see a differentiated layout domestically, with high-density LNG refueling networks in key regions, and internationally, Chinese companies will expand their global LNG resource footprint [12]

Core Viewpoint - ST Guangwu (600603.SH) has announced its intention to apply for the removal of other risk warnings on its stock, believing it meets the necessary conditions as per the Shanghai Stock Exchange regulations [1] Summary by Relevant Sections - **Company Decision**: The company's 11th Board of Directors held its 7th meeting in 2025, where it approved the application to the Shanghai Stock Exchange for the removal of other risk warnings on its stock [1]