3. *ST富润(600070.SH)：公司股票2025年4月8日收盘价为0.46元，已连续18个交易日低于1元，收盘市 值约为2.33亿元，已连续18个交易日低于5亿元，若后续2个交易日连续涨停仍无法避免连续20个交易日 低于1元或市值低于5亿元，股票将被强制退市；此外，公司预计2024年财务数据可能触发财务类退市风 险。 4. *ST中程(300208.SZ)：公司因2023年末经审计净资产为负值且最近三年扣非后净利润均为负值，股票 已被实施退市风险警示；若2024年出现利润总额、净利润为负且营业收入低于1亿元、期末净资产为 负、审计报告被出具非标准意见等情形，股票将被终止上市；同时公司因涉嫌信息披露违法被立案调 查，可能面临重大违法强制退市风险，本次为第六次风险提示公告。 1. *ST龙津(002750.SZ)：公司股票2025年4月8日收盘市值为4.97亿元，低于5亿元，若连续二十个交易日 收盘市值均低于5亿元，股票将被终止上市，公司已披露首次风险提示公告。 2. *ST东方(600811.SH)：公司股票2025年4月8日收盘价为0.43元，已连续16个交易日低于1元，若后续4 个交易日连续涨停仍无 ...

Core Viewpoint - The article discusses the impact of the U.S. "reciprocal tariffs" on various industries and companies, highlighting that many companies have limited exposure to the U.S. market, thus minimizing the potential negative effects of the tariffs. Food and Beverage Industry - The domestic functional beverage industry shows strong resilience amid the ongoing U.S.-China tariff disputes, with Dongpeng Beverage leveraging its fully localized supply chain and innovation to mitigate risks [3]. - Dongpeng has achieved 100% domestic sourcing for key raw materials and packaging, and plans to expand its distribution network to nearly 4 million outlets by the end of 2024 [3]. - Lehui International reports that about 50% of its equipment exports go to developing countries, indicating minimal impact from the tariffs [3]. Steel Industry - Several steel companies indicate that the tariffs will have little effect on their exports to the U.S. due to the small scale of such exports [4]. - The tariffs may indirectly affect domestic steel demand, but the industry is prepared with policy measures to manage supply and demand balance [4]. Information and Communication Industry - Some products, including semiconductors, are not affected by the new tariffs, and companies report limited direct impact due to low export ratios to the U.S. [5]. - Companies like Huakin Technology maintain a diversified client base, with only about 10% of their revenue coming from direct sales to the U.S., thus minimizing the impact of the tariffs [6]. New Energy and New Materials Industry - Camel Group states that its exports to the U.S. are minimal, and the impact of tariffs is manageable [7]. - Huamao Technology plans to focus on Southeast Asia and Europe, with only a small percentage of revenue from North America, indicating limited exposure to U.S. tariffs [7]. - Bowei Alloy highlights that its U.S. projects are designed to mitigate tariff impacts, and its new production facilities in Vietnam will target markets outside the U.S. [7]. Pesticides and Fertilizers Industry - A Shanghai-listed company notes that its main export product, glyphosate, has minimal direct exposure to the U.S. market, suggesting potential benefits from the tariff policy due to competitive dynamics [8]. Publishing Industry - Leading publishing companies like Xinhua Wenhui and Phoenix Media assert that the tariffs have negligible effects on their operations, as their business primarily focuses on domestic markets with no significant import/export activities [9].

截至2025年3月28日收盘，*ST东方（600811）报收于0.58元，较上周的0.75元下跌22.67%。本周，*ST 东方3月24日盘中最高价报0.71元。3月28日盘中最低价报0.58元，股价触及近一年最低点。*ST东方当 前最新总市值21.22亿元，在贸易板块市值排名11/14，在两市A股市值排名4721/5139。 本周关注点 交易信息汇总 ST东方（600811）因ST、ST证券连续三个交易日内收盘价格跌幅偏离值累计达到12%的证券登上龙虎 榜。此次是近5个交易日内第2次上榜。此外，在3月24日至3月28日期间，*ST东方发生了多次大宗交 易，成交金额分别为184.57万元、44.01万元、19.64万元、36.6万元和96.94万元。 公司公告汇总 东方集团股份有限公司发布公告，提示公司股票交易异常波动及可能被实施重大违法强制退市的风险。 公司因涉嫌信息披露违法违规被中国证监会立案调查，并于2025年3月16日收到《行政处罚事先告知 书》，认定公司通过人为增加业务环节或虚构业务链条等方式，长期开展农产品融资性贸易和空转循环 贸易，导致2020年至2023年年度报告存在虚假记载。如正式处罚决定书 ...

Financial Performance - The net profit attributable to shareholders for the fiscal year 2024 is CNY 1,544.86 million[4]. - The company's operating revenue for 2024 reached ¥12,328,513,892.29, representing a 3.88% increase compared to ¥11,868,490,425.19 in 2023[22]. - The net profit attributable to shareholders for 2024 was ¥1,544,856,196.33, a decrease of 2.17% from ¥1,579,146,004.64 in 2023[22]. - The net profit after deducting non-recurring gains and losses was ¥1,658,227,272.52, showing a 2.10% increase from ¥1,624,041,984.43 in 2023[22]. - The total assets of the company increased by 5.10% to ¥22,898,703,360.27 in 2024 from ¥21,787,563,374.32 in 2023[23]. - The basic earnings per share for 2024 was ¥1.25, down 2.34% from ¥1.28 in 2023[24]. - The weighted average return on equity decreased to 11.13% in 2024 from 12.25% in 2023, a reduction of 1.12 percentage points[24]. - The cash flow from operating activities for 2024 was ¥1,772,478,831.63, a significant decrease of 24.67% compared to ¥2,353,028,211.32 in 2023[22]. - The company reported a total net asset value of ¥14,606,455,619.02 at the end of 2024, an increase of 11.75% from ¥13,070,948,143.35 at the end of 2023[22]. - The company achieved a revenue of 12.33 billion RMB, representing a year-on-year growth of 3.88% primarily due to increased sales of general books[52]. - The net profit for the period was 1.60 billion RMB, a decrease of 1.52% mainly due to changes in tax incentives for cultural enterprises[52]. Dividend and Profit Distribution - The proposed cash dividend is CNY 4.10 per 10 shares, totaling CNY 505.87 million to be distributed[4]. - The annual shareholders' meeting is scheduled for May 20, 2025, to approve the profit distribution plan[11]. - The cash dividend distribution plan indicates that the cash dividends will account for 32.75% of the net profit attributable to shareholders[170]. - Over the last three fiscal years, the cumulative cash dividend amount (including tax) reached CNY 1.875 billion, with an average cash dividend payout ratio of 121.70%[172]. Risk Management and Compliance - The company has confirmed no significant risks that could materially affect its operations during the reporting period[6]. - The company has received a standard unqualified audit opinion from KPMG Huazhen[3]. - There are no non-operational fund occupations by controlling shareholders or related parties[6]. - The company has not violated decision-making procedures for external guarantees[6]. - The financial report is guaranteed to be true, accurate, and complete by the responsible parties[3]. - The company has outlined potential risk factors in the management discussion and analysis section of the report[6]. - The company has established a comprehensive internal control and risk management system, with no significant monitoring failures reported during the period[128]. - The company has ensured compliance with commitments to avoid competition with its subsidiaries and will not restrict normal business opportunities[191]. Operational Highlights - The company launched 1,291 new integrated products, including e-books, audiobooks, and digital collectibles, enhancing its publishing offerings[34]. - The company’s online service platform "Wenxuan Youxue" now covers over 6,000 schools and serves more than 4.75 million students[35]. - The company reported a logistics revenue of 258 million, reflecting its efforts to enhance supply chain digitalization and service quality[38]. - The company’s book fair attracted 58 million visitors online and offline, generating sales of 105 million in books and cultural products[40]. - The company’s general book publishing market share ranked 9th nationally and 6th among local peers[34]. - The company’s investment in digital publishing is aimed at enhancing its business system and exploring new business models[39]. - The company implemented a "one city, one policy" strategy to address the decline in student numbers and optimize product quality[35]. - The company’s logistics network efficiency improved with the establishment of a new transportation hub in North China[38]. Research and Development - The company's R&D expenses increased by 52.47% to 30.46 million RMB, reflecting higher investments in business management systems and technology innovation applications[53]. - The total R&D investment for the current period is CNY 21,038,763.87, representing 0.17% of operating revenue[68]. - The number of R&D personnel is 75, accounting for 1.00% of the total workforce[69]. - The company is committed to enhancing its research and development efforts to innovate new technologies and products[136]. Corporate Governance - The board of directors consists of 9 members, including 3 independent directors, complying with relevant legal requirements[124]. - The supervisory board has 6 members and has conducted 6 meetings to oversee the company's management and financial status, ensuring compliance with laws and regulations[125]. - The company has appointed new independent directors and supervisors, including Mr. Han Wenlong and Mr. Xue Feng, to enhance governance[135]. - The company plans to hold its annual general meeting on May 21, 2024, to discuss various proposals including the 2023 financial report and profit distribution[131]. Environmental and Social Responsibility - The company invested CNY 3.001 million in environmental protection initiatives during the reporting period[179]. - 四川新华印刷在2023年度被评为“四川省年度企业环境信用评价诚信企业”，连续四年获得该荣誉[182]. - 四川新华印刷在报告期内组织回收书刊约4,160.25吨，支持环保教育事业[184]. - 公司在环保方面采取了多项措施，包括使用低挥发性油墨和无醇润版液，有效降低了油烟、粉尘和废水的排放[182]. - 公司在报告期内的社会责任总投入为4,350.68万元，其中资金投入为2,453.45万元，物资折款为1,897.23万元[188]. Future Outlook - The company anticipates a significant policy boost for the cultural industry during the "14th Five-Year Plan" period, which will support high-quality development in publishing and related sectors[111]. - The company aims to enhance its content supply capabilities by focusing on high-quality publications and integrating publishing resources, targeting a revenue of RMB 105,728.78 million and a net profit of RMB 49,569.94 million for Sichuan Education Publishing Co., Ltd. in 2024[110]. - The company is focused on international communication enhancement to improve its global competitiveness and promote Chinese culture abroad[113]. - The company is set to build a comprehensive cultural service group with international influence by focusing on the publishing media industry and innovating its development model[114].

Financial Performance - The company's operating revenue for the year ended December 31, 2024, was RMB 12,328,513,892.29, representing an increase of 3.88% from RMB 11,868,490,425.19 in the previous year[12]. - The net profit for the year was RMB 1,603,661,673.85, reflecting an increase of 2.5% compared to RMB 1,564,993,816.01 in the previous year[12]. - Total comprehensive income increased to RMB 2,321,298,638.15, up 75.9% from RMB 1,320,631,642.30 year-on-year[14]. - Basic and diluted earnings per share were both RMB 1.25, down from RMB 1.28 in the previous year[14]. - The company reported a net profit of RMB 1,708,926,123.14 for 2024, compared to RMB 1,563,172,061.16 in 2023, reflecting a growth of about 9.30%[133]. - The net profit attributable to ordinary shareholders for 2024 was RMB 1.544 billion, a decrease of 1.52% from RMB 1.579 billion in 2023[137][144]. Assets and Liabilities - The total assets as of December 31, 2024, amounted to RMB 22,898,703,360.27, up from RMB 21,787,563,374.32 as of December 31, 2023, indicating a growth of 5.1%[8]. - The total liabilities decreased to RMB 7,891,774,311.86 from RMB 8,373,407,203.21, a reduction of 5.75%[10]. - The total equity attributable to shareholders increased to RMB 14,606,455,619.02 from RMB 13,070,948,143.35, representing a growth of 11.7%[10]. - The company's cash and cash equivalents increased to RMB 9,179,678,124.68 from RMB 9,117,663,825.52, showing a growth of 0.68%[6]. - The year-end cash and cash equivalents balance was RMB 8,962,582,856.29, a decrease from RMB 9,078,342,824.79 at the beginning of the year[17]. Cash Flow - Cash inflow from operating activities was RMB 13,431,017,321.23, an increase of 1.8% compared to RMB 13,186,619,287.21 last year[16]. - Net cash flow from operating activities decreased to RMB 1,772,478,831.63, down 24.5% from RMB 2,353,028,211.32[16]. - Cash outflow from investing activities totaled RMB 1,939,313,001.72, significantly higher than RMB 1,005,773,501.18 in the previous year[16]. - Net cash flow from financing activities was negative at RMB 1,065,293,099.26, compared to a negative RMB 575,819,199.82 last year[17]. Research and Development - Research and development expenses rose to RMB 30,463,683.64, up from RMB 19,979,888.16, marking an increase of 52.5%[12]. - Total R&D investment amounted to RMB 210.39 million, an increase of 103.98% compared to RMB 103.14 million in the previous year, representing 0.17% of operating revenue[183]. Investments - The company reported an investment loss of RMB 15,268,210.52 for the current year, with a cumulative investment loss of RMB 41,055,695.56[68]. - The total fair value of investments decreased from RMB 449,082,949.02 in 2023 to RMB 422,828,090.06 in 2024, representing a decline of approximately 5.8%[73]. - The company has a significant investment strategy involving multiple joint ventures and associates, indicating a focus on market expansion and collaboration[69]. Revenue Segments - The publishing segment generated revenue of RMB 2,980,259,352.01 in 2024, slightly down from RMB 2,987,457,427.86 in 2023, indicating a decrease of about 0.06%[125]. - The distribution segment saw an increase in revenue to RMB 10,867,014,662.29 in 2024, up from RMB 10,486,969,636.36 in 2023, reflecting a growth of approximately 3.63%[125]. - The educational materials and tutoring segment generated sales revenue of RMB 1.46 billion, a decline of 5.94% from RMB 1.56 billion in the previous year[162]. Market and Strategic Focus - The company plans to continue expanding its market presence and enhancing its product offerings in the upcoming fiscal year[31]. - The company is focusing on mergers and acquisitions to accelerate its growth strategy and expand its product offerings[58]. - The company is actively expanding its market share and brand influence by developing new educational products and exploring channels outside of Sichuan Province[160]. Tax and Regulatory Environment - The company is exempt from corporate income tax until December 31, 2027, under specific tax policies related to cultural enterprises[22]. - The company is classified under encouraged industries in the western region, benefiting from a reduced corporate income tax rate of 15%[23]. - Deferred tax assets are expected to be recognized at a tax rate of 15% starting January 1, 2024, due to changes in tax policies affecting the company and its subsidiaries[87].

宏观•要闻 工业和信息化部连夜部署查处"3·15"晚会曝光问题 针对"3·15"晚会曝光的智能机器人拨打营销骚扰电话、虚商实名制要求落实不到位等问题，工业和信息 化部连夜组织北京、上海、广东等地通信管理局对涉嫌违法违规主体进行调查处置，责令基础电信运营 商立即关停涉事线路、对涉个人数据信息有关情况进行核查，督促互联网平台企业全面清理违法智能外 呼软件销售推广信息。同时，将持续采取有力措施，强化对基础电信运营商、虚拟运营商、呼叫中心企 业监督检查，严厉查处违法违规企业，加大曝光力度，积极配合有关部门依法打击网络黑灰产业等违法 犯罪行为，全力营造安全健康的信息通信消费环境。 金融•证券 央行发布2月金融数据 2月新增信贷近万亿。3月14日，中国人民银行发布最新的金融和社会融资数据显示，今年前两个月，人 民币贷款增加6.14万亿元，其中，2月单月新增人民币贷款近万亿元；2月社融增量2.24万亿元，同比多 增7416亿元。 证监会、公安、网信等多部门联手以"零容忍"态度严厉打击股市"小作文" 在资本市场，打击股市虚假"小作文"、严肃查处非法荐股等违法违规行为，是保护投资者合法权益，维 护资本市场秩序和平稳健康发展的重 ...

另外，3月16日晚间，中青宝(300052)公告，3月14日收到中国证券监督管理委员会深圳监管局（简 称"深圳证监局"）下发的《行政处罚事先告知书》。 据规定："上市公司出现下列情形之一的，本所对其股票交易实施其他风险警示：根据中国证监会行政 处罚事先告知书载明的事实，公司披露的年度报告财务指标存在虚假记载，但未触及第10.5.2条第一款 规定情形，前述财务指标包括营业收入、利润总额、净利润、资产负债表中的资产或者负债科目"，中 青宝股票交易将被实施其他风险警示。 中青宝股票将被实施其他风险警示，东方集团将被实施退市风险警示，二者将于3月17日停牌1天。 东方集团(600811)公告称，公司于3月16日收到中国证监会《行政处罚事先告知书》，认定公司通过人 为增加业务环节或虚构业务链条等方式，长期开展农产品融资性贸易和空转循环贸易，导致2020年至 2023年年度报告存在虚假记载。 上述虚假销售业务，将触及"年度报告财务指标连续3年存在虚假记载"的重大违法强制退市情形，将被 实施重大违法强制退市。 该公司股票将于3月17日停牌1天，自3月18日起实施退市风险警示，股票简称变更为*ST东方，日涨跌 幅限制为5%。 ...

Group 1 - Quantum computing is considered a key technology for the next information revolution, with significant advancements reported in the field [1][9] - The Chinese research team successfully developed the "Zu Chongzhi No. 3" superconducting quantum computing prototype, achieving a speed 15 orders of magnitude faster than the best classical algorithms for quantum random circuit sampling [6][7] - The global quantum industry market is expected to exceed $10 billion by 2025 and reach $1 trillion by 2035, driven by technological breakthroughs and market confidence [11][12] Group 2 - The stock price of Dongfang Group has hit the daily limit down again, with a trading volume of 12.682 million hands and a half-day turnover of 33.418 million yuan, following a risk warning announcement due to an investigation by the China Securities Regulatory Commission [2] - Other companies such as Zhongzhou Holdings, Zhuangyuan Pasture, and Jiahe Food also experienced significant declines in stock prices [3] - The military and humanoid robot sectors saw a rebound, with stocks like Wanda Bearing rising over 23%, marking a significant increase in their market value [4][5]

Group 1 - Quantum computing is considered a key technology for the next information revolution, with significant advancements reported in the field [3][4] - The Chinese Academy of Sciences and several universities collaborated to develop the "Zu Chongzhi No. 3" quantum computing prototype, achieving a speed 15 orders of magnitude faster than the best classical algorithms [3] - The development of quantum technology is being prioritized in various regions of China, with local governments outlining plans to foster this emerging industry [4][5] Group 2 - Despite the overall poor performance of quantum technology stocks in 2024, 14 companies reported a year-on-year increase in net profit, indicating potential recovery [6] - Notable companies such as Zhenyou Technology reported a turnaround from a loss of 0.87 million to a profit of 0.27 million in 2024, showcasing growth in revenue and reduced credit losses [6] - Institutional investors have shown interest in quantum technology stocks, with significant net purchases recorded since February 2024 [6]

Group 1 - The core issue is the financial fraud investigation of Dongfang Group, which may lead to mandatory delisting due to serious inaccuracies in financial disclosures from 2020 to 2023 [1][2] - The China Securities Regulatory Commission (CSRC) has initiated an investigation into Dongfang Group since June 20, 2024, and has indicated that the company may face severe penalties for its actions [1][2] - Dongfang Group has reported a projected net loss of between 800 million to 1.2 billion yuan for the year 2024, following three consecutive years of losses totaling 4.272 billion yuan from 2021 to 2023 [2] Group 2 - The company’s stock price fell by 7.36% to 2.14 yuan per share, resulting in a total market capitalization of 7.8 billion yuan [3] - Next week, 24 stocks will be unlocked, with a total market value of 29.713 billion yuan, indicating a relatively low level of unlock pressure compared to other months [4][5] - Dongfang Group is among the companies facing significant risks of mandatory delisting, as indicated in previous announcements regarding its financial status [2][5]