Market Performance - On August 4, the Shanghai State-Owned Enterprise Reform sector rose by 0.13% compared to the previous trading day, with Feilo Acoustics leading the gains [1] - The Shanghai Composite Index closed at 3583.31, up 0.66%, while the Shenzhen Component Index closed at 11041.56, up 0.46% [1] Top Gainers - Feilo Acoustics (600651) closed at 6.12, with a gain of 10.07% and a trading volume of 1.22 million shares, amounting to a transaction value of 724 million [1] - Huahong Semiconductor (688347) closed at 63.10, up 7.55%, with a trading volume of 284,100 shares and a transaction value of 1.777 billion [1] - Other notable gainers include: - Jiao Yun Co. (600676) at 5.52, up 5.75% [1] - Shenda Co. (600626) at 4.05, up 5.74% [1] Top Losers - Yihaitian (601595) closed at 36.39, down 7.87%, with a trading volume of 352,400 shares and a transaction value of 1.299 billion [2] - Electric Wind Power (688660) closed at 14.21, down 3.73%, with a trading volume of 630,600 shares [2] - Other notable losers include: - Huajian Group (600629) at 13.26, down 3.21% [2] - Bright Real Estate (600708) at 3.46, down 2.54% [2] Capital Flow - The Shanghai State-Owned Enterprise Reform sector experienced a net outflow of 1.036 billion from institutional investors, while retail investors saw a net inflow of 697 million [2] - Notable capital flows include: - Feilo Acoustics had a net inflow of 88.17 million from institutional investors, but a net outflow of 44.36 million from speculative funds [3] - Shanghai Construction Technology (603153) had a net inflow of 17.28 million from institutional investors, with a net outflow of 20.34 million from retail investors [3]

Core Viewpoint - As of August 1, 2025, Changjiang Investment (600119) closed at 8.51 yuan, marking a 2.41% increase, with a trading volume of 96600 lots and a transaction value of 82.22 million yuan [1] Group 1: Financial Performance - Changjiang Investment reported a total revenue of 43.10 million yuan for Q1 2025, representing a year-on-year decline of 83.94% [2] - The company recorded a net profit attributable to shareholders of -6.49 million yuan, down 86.46% year-on-year [2] - The company's gross profit margin stood at 20.68%, which is higher than the industry average of 14.89% [2] Group 2: Market Position and Ratios - The total market capitalization of Changjiang Investment is 3.108 billion yuan, significantly lower than the logistics industry average of 17.649 billion yuan, ranking 44th in the industry [2] - The price-to-earnings ratio (P/E) is -119.82, while the industry average is 44.46, placing the company at the bottom of the ranking [2] - The return on equity (ROE) is -4.83%, compared to the industry average of 1.39%, indicating a weak financial performance relative to peers [2] Group 3: Capital Flow Analysis - On August 1, 2025, the net inflow of main funds was 4.0173 million yuan, accounting for 4.89% of the total transaction value [1] - Retail investors experienced a net outflow of 7.4759 million yuan, representing 9.09% of the total transaction value on the same day [1] - Over the past five days, the stock has seen fluctuating capital flows, with significant net outflows from retail investors on multiple days [1]

证券代码：600119 证券简称：长江投资 公告编号：临 2025-022 长发集团长江投资实业股份有限公司 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： ? 业绩预告具体适用于净利润为负值的情形。 ? 经财务部门初步测算，长发集团长江投资实业股份有限公司 （以下简称"公司"）预计2025年半年度实现归属于母公司所有者的 净利润为-1,200.00万元到-800.00万元。 ? 预计2025年半年度实现归属于母公司所有者的扣除非经常性 损益后的净利润为-1,300.00万元到-900.00万元。 一、本期业绩预告情况 （一）业绩预告期间 （二）业绩预告情况 经财务部门初步测算，预计2025年半年度实现归属于母公司所有 者的净利润为-1,200.00万元到-800.00万元，将出现亏损。 归属于母公司所有者的净利润：-1,506.50万元。 归属于母公司所有者的扣除非经常性损益的净利润：-1,449.56 万元。 （二）每股收益：-0.041元。 三、本期业绩预亏的主要原因 因上年度调整海运光伏国际货运代理业务 ...

长发集团长江投资实业股份有限公司2025年半年度业绩预亏公告 [Current Period Performance Forecast](index=1&type=section&id=I.%E3%80%81Current%20Period%20Performance%20Forecast) The company anticipates a net loss for the first half of 2025, both before and after deducting non-recurring items 2025 Semi-Annual Performance Forecast | Financial Metric | Projected Amount (RMB Million) | | :--- | :--- | | Net Profit Attributable to Owners of Parent Company | -12.00 to -8.00 | | Net Profit Attributable to Owners of Parent Company After Non-Recurring Items | -13.00 to -9.00 | [Prior Period Operating Performance and Financial Position](index=1&type=section&id=II.%E3%80%81Prior%20Period%20Operating%20Performance%20and%20Financial%20Position) The company anticipates a narrower net loss in the first half of 2025 compared to the prior year, which reported a net loss of **-15.065 million RMB** Prior Period (2024 Semi-Annual) Financial Data | Financial Metric | Amount (RMB) | | :--- | :--- | | Total Profit | -19.7175 million | | Net Profit Attributable to Owners of Parent Company | -15.065 million | | Net Profit Attributable to Owners of Parent Company After Non-Recurring Items | -14.4956 million | | Earnings Per Share | -0.041 | - Compared to the same period last year, the expected loss for the current period has **narrowed**[3](index=3&type=chunk)[6](index=6&type=chunk) [Primary Reasons for Current Period Performance Pre-Loss](index=2&type=section&id=III.%E3%80%81Primary%20Reasons%20for%20Current%20Period%20Performance%20Pre-Loss) The current period's loss is primarily due to business adjustments and key customer attrition, resulting in a substantial decline in related revenue - The core reason for the performance loss is a **significant decline in sales revenue** compared to the prior year due to business adjustments and termination of customer cooperation[7](index=7&type=chunk) - Specifically affected businesses include: - Adjustments to sea freight photovoltaic international cargo forwarding business - Termination of commercial vehicle logistics transportation, warehousing, and import customs declaration services by key customers[7](index=7&type=chunk) [Risk Warning and Other Explanatory Matters](index=2&type=section&id=IV.%E3%80%81Risk%20Warning) This performance forecast is a preliminary, unaudited financial estimate, and investors should refer to the official 2025 semi-annual report for final data and be aware of investment risks - This performance forecast is a **preliminary calculation** by the company's finance department, **unaudited** by certified public accountants, and subject to **uncertainty**[8](index=8&type=chunk) - The company advises investors to rely on the financial data in the **officially disclosed 2025 semi-annual report** and to be aware of **investment risks**[9](index=9&type=chunk)

Core Viewpoint - The company received an inquiry letter from the Shanghai Stock Exchange regarding its 2024 annual report, primarily focusing on a lawsuit that has led to a qualified audit opinion due to the complexity of the case and the potential financial implications [1][2]. Group 1: Financial Reporting and Audit - The company's 2024 financial statements received a qualified audit opinion due to a lawsuit involving a claim for the return of distributed profits amounting to 152 million yuan, which represents 116% of the company's net assets attributable to shareholders [1][2]. - The company believes the lawsuit qualifies as a post-balance sheet adjustment matter under accounting standards, but it does not meet the criteria for recognizing a provision for expected liabilities [6][11]. - The audit team conducted various procedures, including reviewing litigation documents and consulting with legal counsel, but could not obtain sufficient evidence to determine the impact on the financial statements [10][11]. Group 2: Legal Proceedings - The lawsuit initiated by the Shanghai Changjiang United Metal Trading Center has progressed through the courts, with the company filing jurisdictional objections that were ultimately rejected [7][8]. - The company is actively preparing for evidence exchange scheduled for June 13, 2025, but the hearing was canceled, and further notifications from the court are awaited [7][8]. - The potential impact of the lawsuit on the company's financial performance remains uncertain, and the company will handle it according to relevant accounting standards as the case progresses [8][11]. Group 3: Business Performance - The company reported a significant decline in revenue for 2024, with total revenue of 507 million yuan, a decrease of 41.19% year-on-year, primarily due to a drop in logistics and warehousing services [20][21]. - The logistics and warehousing service revenue fell by 48.56%, while product sales revenue increased by 41.04%, indicating a shift in business dynamics [20][21]. - The company experienced substantial fluctuations in quarterly revenue, with the first quarter significantly outperforming subsequent quarters due to adjustments in business operations [29][30]. Group 4: Asset Impairment - The company recognized an impairment loss of 20.1 million yuan on intangible assets related to vehicle licenses, reflecting a decrease in demand for its logistics services [12][20]. - The assessment of the recoverable amount of the licenses was conducted by an external valuation firm, which determined the impairment was adequately accounted for [18][20]. - The decline in the utilization rate of vehicle licenses and the overall market conditions contributed to the impairment recognition [15][20].

关于对《关于长发集团长江投资实业股份有限公司 2024 年年度报告的信息披露监管问询函》 中有关问题的回复报告 上会业函字(2025)第 916 号 上海证券交易所上市公司管理一部: 我们收到长发集团长江投资实业股份有限公司（以下简称"长江投资"或"公 司") 转来贵部于 2025 年 6 月 6 日签发的《关于长发集团长江投资实业股份有限公司 2024 年年度报告的信息披露监管问询函》(上证公函[2025]0772 号 )（以下简称" 问询 函")，根据问询函的相关要求，对问询函中所提及的有关需要年审会计师核查并发 表意见的问题回复如下: 一、关于非标审计意见 公司 2024 年度财务报表审计报告被出具保留意见，系公司 2025 年 3 月 11 日收到上海铁路运输法院应诉通知书和上海长江联合金属交易中心有限公司（以下 简称金交中心）于 2024 年 12 月递交法院的民事起诉状,法院已受理该案件，金交 中心请求判令公司向其返还已分配利润合计 1.52 亿元。审计师认为因诉讼案件情况 复杂，未能获取充分、适当的审计证据以判断诉讼相关财务报表项目列报是否完整、 准确,也无法确定应调整金额及对财务报表项目的影响 ...

证券代码：600119 证券简称：长江投资 公告编号：临 2025-021 请公司：（1）结合《企业会计准则》的相关规定，说明上述诉讼 是否属于期后调整事项及判断依据，若属于，请说明有关预计负债的 确认过程、计提金额及相关计提是否充分；（2）补充披露上述诉讼的 最新进展并说明其对公司生产经营、财务状况等方面预计产生的影响； （3）请年审会计师说明针对上述事项所采取的具体审计程序及获取 的审计证据，结合审计准则要求，说明相关事项对公司财务报告的影 响是否具有广泛性，出具保留意见的具体依据。 长发集团长江投资实业股份有限公司关于 上海证券交易所对公司 2024 年年度报告的信息披露 监管问询函回复的公告（修订版） 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 长发集团长江投资实业股份有限公司（以下简称"长江投资"或 "公司"）于 2025 年 6 月 6 日收到上海证券交易所下发的《关于长发 集团长江投资实业股份有限公司 2024 年年度报告的信息披露监管问 询函》（上证公函〔2025〕0772 号）（以下简称问询函），根据问询 ...

证券代码：600119 证券简称：长江投资 公告编号：临 2025-020 长发集团长江投资实业股份有限公司关于 上海证券交易所对公司 2024 年年度报告的信息披露 监管问询函回复的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 公司 2024 年度财务报表审计报告被出具保留意见，系公司 2025 年 3 月 11 日收到上海铁路运输法院应诉通知书和上海长江联合金属 交易中心有限公司（以下简称金交中心）于 2024 年 12 月递交法院的 民事起诉状，法院已受理该案件，金交中心请求判令公司向其返还已 分配利润合计 1.52 亿元。审计师认为因诉讼案件情况复杂，未能获 取充分、适当的审计证据以判断诉讼相关财务报表项目列报是否完整、 准确，也无法确定应调整金额及对财务报表项目的影响。该诉讼涉及 长发集团长江投资实业股份有限公司（以下简称"长江投资"或 "公司"）于 2025 年 6 月 6 日收到上海证券交易所下发的《关于长发 集团长江投资实业股份有限公司 2024 年年度报告的信息披露监管问 询函》（上证公函〔2025〕 ...

Meeting Details - The shareholders' meeting was held on June 17, 2025, at the conference center in Shanghai [1] - The attendance rate of ordinary shareholders and preferred shareholders with restored voting rights was 49.1954% [1] - The meeting was presided over by Chairman Lu Guofeng, and the voting method complied with the Company Law and Articles of Association [1] Voting Results - All proposed resolutions were passed with significant majority votes, with A-shareholders voting as follows: - 99.8506% in favor for the first resolution [1] - 99.8494% in favor for the second resolution [1] - 99.8348% in favor for the third resolution [1] - 99.8480% in favor for the fourth resolution [1] - 99.8022% in favor for the fifth resolution [2] - 99.8328% in favor for the sixth resolution [2] - 99.8479% in favor for the seventh resolution [2] - 99.7862% in favor for the eighth resolution [2] - 99.8218% in favor for the ninth resolution [2] - 99.8517% in favor for the tenth resolution [2] Legal Compliance - The meeting's convening, procedures, attendance qualifications, and voting results were confirmed to comply with legal regulations and the company's Articles of Association [3]

Core Points - The board of directors of Changjiang Investment Company held its ninth meeting on June 17, 2025, where several key resolutions were passed [1][2][3] Group 1: Capital Reduction - The board approved a capital reduction for its wholly-owned subsidiary, Shanghai Changli Asset Management Co., Ltd., reducing its registered capital from 50 million yuan to 30 million yuan, while the equity structure remains unchanged [1] Group 2: Management and Compensation - The board approved the establishment of target responsibility agreements for 2025, to be signed with the general manager and other members of the management team [2] - The board also approved the salary standards for senior management for the year 2025, with one related director abstaining from the vote [2] Group 3: Value Management - The board approved the establishment of a market value management system for the company [2] - Additionally, the board approved the 2025 valuation enhancement plan [2]