Core Viewpoint - The fishery sector experienced a decline of 0.3% on November 28, with KaiChuang International leading the losses, while the overall Shanghai Composite Index rose by 0.34% and the Shenzhen Component Index increased by 0.85% [1] Group 1: Market Performance - The fishery sector's stocks showed mixed performance, with notable gainers including DaHu Co. (up 2.20% to 6.05) and HaoDangJia (up 1.17% to 2.60), while KaiChuang International fell by 2.51% to 12.41 [1] - The trading volume for DaHu Co. was 245,400 shares, while the highest trading volume was seen in GuoLian Aquatic Products with 1,398,800 shares [1] Group 2: Capital Flow - The fishery sector saw a net outflow of 77.58 million yuan from institutional investors and 8.06 million yuan from retail investors, while retail investors had a net inflow of 85.64 million yuan [1] - Individual stock capital flows indicated that DaHu Co. had a net inflow of 1.58 million yuan from institutional investors, while KaiChuang International experienced a net outflow of 19.22 million yuan [2]

Core Viewpoint - As of November 28, 2025, Kaichuang International (600097) closed at 12.41 yuan, down 2.51%, with a turnover rate of 6.73% and a trading volume of 162,200 hands, amounting to a total transaction value of 201 million yuan [1] Financial Performance - For the first three quarters of 2025, Kaichuang International reported a main business revenue of 1.7 billion yuan, a year-on-year decrease of 1.74%, while the net profit attributable to shareholders was 60.5 million yuan, an increase of 269.47% year-on-year [2] - The third quarter of 2025 saw a single-quarter main business revenue of 450 million yuan, a year-on-year decrease of 32.82%, and a net profit attributable to shareholders of 32.9 million yuan, a year-on-year decrease of 22.25% [2] - The company’s gross profit margin stood at 33.42%, with a net profit margin of 3.87% [2] Market Position - Kaichuang International's total market value is 2.99 billion yuan, with a net asset value of 2.35 billion yuan, and a net profit of 60.5 million yuan, ranking 63rd, 41st, and 68th respectively in the agriculture, animal husbandry, and fishery industry [2] - The company has a price-to-earnings ratio (P/E) of 37.06 and a price-to-book ratio (P/B) of 1.29, ranking 68th in both categories within the industry [2] Capital Flow - On November 28, 2025, the net outflow of main funds was 19.22 million yuan, accounting for 9.56% of the total transaction value, while retail investors saw a net inflow of 15.38 million yuan, accounting for 7.65% of the total transaction value [1]

Core Viewpoint - Multiple shareholders across various companies are planning to reduce their stakes, indicating potential shifts in ownership dynamics and investor sentiment in the A-share market [1] Shareholder Reductions - Perfect World: Actual controller Chi Yufeng plans to reduce holdings by no more than 1.7% [1] - Jiangsu Boyun: Shareholder Blue Three Venture Capital intends to reduce holdings by no more than 1% [1] - Matrix Technology: Li Jun plans to reduce holdings by no more than 60,000 shares [1] - Zhongzhi Technology: Zhongzhi Investment plans to reduce holdings by no more than 0.76% [1] - Yidelong: Shareholder Wang Ming plans to reduce holdings by no more than 3.2 million shares [1] - Zhongman Petroleum: Multiple shareholders plan to collectively reduce holdings by no more than 13.869 million shares [1] - Innovation New Materials: Hualian Group plans to reduce holdings by no more than 37.5607 million shares [1] - Funeng Technology: Shareholder Shanghang Xingyuan plans to reduce holdings by no more than 20.551 million shares [1] - Kaichuang International: Xiaojian Technology and its concerted actions plan to reduce holdings by 4.0247 million shares [1] - Tiansheng Biological: Shareholder Guoshou Chengda plans to reduce holdings by 571,800 shares [1] - Century Tianhong: Zhihong Education has cumulatively reduced holdings by 1.26% [1] - Zhongke Software: Kesoft Chuangyuan has reduced holdings by 0.50% [1] - Haizhu Shares: Pu Huahui has cumulatively reduced holdings by 0.94% [1] Other Notable Events - Jincheng Pharmaceutical: Termination of intended cooperation matters [1] - Ruijie Network: Shareholder agreement expiration leads to the dissolution of concerted action [1]

证券代码：600097 证券简称：开创国际 公告编号：临 2025-033 上海开创国际海洋资源股份有限公司 关于持股 5%以上股东权益变动触及 1%刻度的 提示性公告 持股 5%以上股东小间科技及其一致行动人保证向本公司提供的信息真实、 准确、完整，没有虚假记载、误导性陈述或重大遗漏。 本公司董事会及全体董事保证公告内容与信息披露义务人提供的信息一致。 重要内容提示： | 权益变动方向 | 比例增加□ | | 比例减少  | | --- | --- | --- | --- | | 权益变动前合计比例 | 7.7428% | | | | 权益变动后合计比例 | 6.0724% | | | | 本次变动是否违反已作出的承诺、意向、计划 | 是□ | 否 | | | 是否触发强制要约收购义务 | 是□ | 否 | | 一、 信息披露义务人及其一致行动人的基本信息 1.身份类别 | | □控股股东/实际控制人及其一致行动人 | | --- | --- | | 投资者及其一致行动人 | 其他 5%以上大股东及其一致行动人 | | | □合并口径第一大股东及其一致行动人（仅适用于无控股股东、 | | 的身份 | ...

Core Points - The stock of Kaichuang International (600097) closed at 12.73 yuan on November 27, 2025, marking a 1.19% increase from the previous trading day, with a total market capitalization of 3.067 billion yuan [1] - The stock opened at 12.51 yuan, reached a high of 12.88 yuan, and a low of 12.27 yuan, with a trading volume of 274 million yuan and a turnover rate of 9.08% [1] Shareholder Activity - The major shareholder, Xiaojian Technology, along with its concerted parties, reduced their holdings by 4,024,678 shares from November 18 to November 27, 2025, which accounts for 1.6704% of the total share capital [1] - Post-reduction, the combined shareholding percentage decreased from 7.7428% to 6.0724% [1] - The reduction did not violate any commitments and did not trigger mandatory tender offer obligations, ensuring the stability of the company's control [1]

Group 1 - The core viewpoint of the article highlights the performance and valuation of Kaichuang International, which closed at 12.73 yuan with a PE ratio of 29.12 times and a total market value of 3.067 billion yuan [1] - The company operates in the marine resources sector, focusing on deep-sea fishing, seafood processing, and related trade, with main products including tuna, canned food, and fish fillets [1] - As of September 30, 2025, the number of shareholders for Kaichuang International was 14,895, a decrease of 408 from the previous period, with an average holding value of 352,800 yuan per shareholder [1] Group 2 - In the latest quarterly report for Q3 2025, the company reported a revenue of 1.7 billion yuan, a year-on-year decrease of 1.74%, while net profit increased by 269.47% to 60.5173 million yuan, with a gross margin of 33.42% [1] - The average PE ratio for the agriculture, animal husbandry, and fishery industry is 33.94 times, with a median of 37.24 times, positioning Kaichuang International at the 50th rank within the industry [2] - The static PE ratio for Kaichuang International is 50.12 times, and the price-to-book ratio is 1.32 [2]

Core Viewpoint - Kaichuang International (600097.SH) announced a share reduction by Xiaojian Technology and its concerted actors, indicating a strategic adjustment in their investment position [1] Group 1: Share Reduction Details - From November 18 to November 27, 2025, Xiaojian Technology and its concerted actors will reduce their holdings by 4.0247 million shares, representing 1.6704% of Kaichuang International's total share capital [1] - The reduction price range is set between 12.36 and 13.76 yuan per share [1] - Post-reduction, the combined shareholding of Xiaojian Technology and its concerted actors will decrease from 7.7428% to 6.0724% [1]

开创国际公告称，2025年11月18日至27日，持股5%以上股东小间科技及其一致行动人通过集中竞价交 易减持公司股份402.47万股，占总股本的1.6704%，减持价格区间为12.36 - 13.76元/股。本次减持后，其 合计持股比例由7.7428%降至6.0724%。本次权益变动不会导致公司控股股东、实际控制人变化，也不 会对公司治理及经营产生重大影响，且减持符合相关规定。 ...

Group 1 - The agricultural, animal husbandry, and fishery sector experienced a decline on November 26, with the only agricultural ETF (159275) dropping by 0.5% by the end of the trading day [1][2] - Key stocks in the sector, particularly in aquaculture, faced significant losses, with Zhongshui Fishery hitting the limit down, and Zangzi Island and Guolian Aquatic Products falling by 9.19% and 7.22% respectively [1][2] - The Ministry of Agriculture and Rural Affairs has been signaling a focus on capacity regulation, emphasizing the need to stabilize the market for major livestock products [1][3] Group 2 - Tianfeng Securities noted that the pig price remains low, and under policy guidance, there is potential for capacity reduction, highlighting the importance of the pig farming sector's expectations [3] - The agricultural, animal husbandry, and fishery sector's valuation is currently at a relatively low level, suggesting it may be a good time for investment [3] - Huaxi Securities indicated that the pig farming industry is beginning to actively reduce capacity amid losses, with a potential upward shift in domestic pig prices in the medium to long term [4] Group 3 - The industry is facing pressures from falling market prices, rising epidemic risks, and policy guidance, which are expected to enhance the motivation for capacity reduction [4] - Most listed pig farming companies are currently valued at historical lows, indicating significant potential for long-term investment appreciation [4] - The only agricultural ETF (159275) tracks the CSI Agricultural Index, which includes leading companies in pig farming and covers various segments of the agricultural supply chain [5]

Core Viewpoint - As of November 26, 2025, Kaichuang International (600097) closed at 12.58 yuan, down 6.61%, with a turnover rate of 10.85% and a trading volume of 261,500 hands, resulting in a transaction amount of 334 million yuan [1] Group 1: Recent Trading Performance - On November 26, 2025, the net outflow of main funds was 14.88 million yuan, accounting for 4.45% of the total transaction amount, while retail investors saw a net inflow of 14 million yuan, representing 4.19% of the total transaction amount [1] - Over the past five days, the stock has experienced significant fluctuations, with a peak closing price of 14.18 yuan on November 24, 2025, and a notable drop of 6.61% on November 26, 2025 [2] Group 2: Financial Metrics and Industry Comparison - Kaichuang International's total market value is 3.031 billion yuan, significantly lower than the industry average of 12.438 billion yuan, ranking 68th in the industry [3] - The company reported a net profit of 60.5173 million yuan for the first three quarters of 2025, a year-on-year increase of 269.47%, despite a decline in main operating revenue of 1.74% to 1.7 billion yuan [3] - The gross profit margin stands at 33.42%, which is considerably higher than the industry average of 15.67%, ranking 7th in the industry [3]