Core Viewpoint - Investors affected by the false statements of Ningxia Zhongke Biological Technology Co., Ltd. can register for compensation through the Sina Investor Rights Protection Platform, as some investors have already received compensation [1][2]. Group 1: Legal Proceedings and Violations - On June 1, 2023, the company announced it received a warning letter from the Ningxia Securities Regulatory Bureau due to issues such as failure to timely disclose the progress of a subsidiary's capital increase plan and significant litigation matters [5]. - On October 30, 2024, the company and its actual controller, Mr. Yu Jianming, received a notice of investigation from the China Securities Regulatory Commission (CSRC) for suspected violations of information disclosure laws [5]. - On February 14, 2025, the company and Mr. Yu received a notice of administrative penalty from the Ningxia Regulatory Bureau, followed by an administrative penalty decision on April 4, 2025, confirming violations including false records in the 2022 annual report and failure to disclose significant events in a timely manner [5]. Group 2: Compensation Eligibility - Investors who purchased shares between November 22, 2022, and April 5, 2023, and held them regardless of whether they sold after April 6, 2023, or those who bought between April 28, 2023, and October 30, 2024, and held them regardless of whether they sold after October 31, 2024, may be eligible for compensation [3][6].

Core Viewpoint - China Galaxy Asset is committed to its mission of serving the nation through financial means, actively exploring innovative practices for financial risk resolution and supporting the real economy [1] Group 1: Financial Support and Economic Stability - The capital market plays a crucial role in resource allocation, driving industrial upgrades and fostering new productive forces [1] - The restructuring plan for *ST Ningke in Ningxia Hui Autonomous Region has reached its final stage, marking significant progress in efforts to help the company recover and stabilize the regional economy [1] Group 2: Role of China Galaxy Asset - China Galaxy Asset has been a key player in the rescue efforts, utilizing precise and efficient common benefit bonds to revitalize the company [1] - The actions taken by China Galaxy Asset exemplify the functional role of financial asset management companies in supporting national strategies and stabilizing capital markets [1]

Group 1: Peng Bo Shi (鹏博士) Case - Peng Bo Shi failed to disclose related party transactions as required [8] - Peng Bo Shi did not disclose significant contracts as mandated [8] - From 2012 to 2022, Peng Bo Shi's annual reports contained false records, including a profit inflation of 42,456,137.95 yuan in 2012, which accounted for 17.43% of that year's total profit [6][8] - Annual reports from 2012 to 2015 inflated assets, with the 2016 report inflating assets and profits by 162,000,000 yuan, representing 17.48% of that year's total profit [6][8] - From 2020 to 2022, Peng Bo Shi's annual reports reduced net assets by 196,000,000 yuan, which constituted 21.77%, 14.27%, and 18.51% of the net assets at the end of 2020, 2021, and 2022 respectively [2][6] Group 2: Investor Compensation - Investors who purchased Peng Bo Shi stock between April 12, 2013, and July 18, 2023, and sold or held the stock after July 18, 2023, may initiate claims for compensation [7] - The law firm representing investors in the Peng Bo Shi case has received a mediation agreement, allowing some investors to receive compensation [1][7] Group 3: Ning Ke Biological (宁科生物) Case - Ning Ke Biological's 2022 annual report contained false records, inflating revenue by 76,594,100 yuan and total profit by 77,222,000 yuan, which represented 11.25% and 46.59% of the respective totals [9] - The company failed to timely disclose significant events, including major debts and the freezing of key bank accounts [10][11] - Investors who bought Ning Ke Biological stock between November 22, 2022, and April 6, 2023, and sold or held the stock after April 6, 2023, as well as those who bought between April 28, 2023, and October 31, 2024, may also initiate claims for compensation [11]

宁夏中科生物科技股份有限公司 2025 年第五次临时股东会材料 1 宁夏中科生物科技股份有限公司 2025 年第五次临时股东会议程 一、 宣布会议开幕 二、 宣布到会股东情况 三、 律师确认股东资格合法性 四、 审议表决方法 五、 推选监票人、计票人 六、 审议关于续聘信永中和会计师事务所（特殊普通合伙）为公司 2025 年 度审计机构及内部控制审计机构的议案 七、 审议关于拟增加注册资本暨修订《宁夏中科生物科技股份有限公司章 程》的议案 八、 审议关于拟修订《宁夏中科生物科技股份有限公司高级管理人员年薪 制实施管理办法》的议案 九、 审议关于选举董事的议案 （一）选举刘喜荣先生为宁夏中科生物科技股份有限公司第十届董事会非独 立董事 （二）选举冯战胜先生为宁夏中科生物科技股份有限公司第十届董事会非独 立董事 （三）选举符杰先生为宁夏中科生物科技股份有限公司第十届董事会非独立 董事 （四）选举王炜先生为宁夏中科生物科技股份有限公司第十届董事会非独立 董事 十、 审议关于选举独立董事的议案 （一）选举赵向阳先生为宁夏中科生物科技股份有限公司第十届董事会独立 董事 （二）选举刘辉先生为宁夏中科生物科技股份有限公司第 ...

Group 1: Chemical Sector Performance - The chemical raw materials index increased by 1.62%, while the chemical machinery index decreased by 0.96%, the chemical pharmaceuticals index fell by 1.69%, and the pesticide and fertilizer index rose by 4.21% [1] - The top five rising petrochemical products included folic acid up by 20%, battery-grade lithium carbonate up by 11.08%, nitric acid up by 10.43%, sulfur up by 9.95%, and petroleum coke up by 7.23% [1] - The top five declining petrochemical products were liquid chlorine down by 34%, butadiene down by 7.69%, 2,4-D down by 6.09%, trichloroethylene down by 6.00%, and SBS down by 5.90% [1] Group 2: Oil Sector Performance - The oil processing index rose by 1.39%, while the oil extraction index fell by 0.22%, and the oil trading index increased by 3.44% [1] - International crude oil prices continued to decline, with West Texas Intermediate crude oil futures settling at $56.66 per barrel, down 1.36% from December 12, and Brent crude oil futures settling at $60.47 per barrel, down 1.06% from December 12 [1] Group 3: Capital Market Performance of Listed Chemical Companies - The top five rising listed chemical companies included Sulihua Co., Ltd. up by 30.69%, Xinri Hengli up by 27.48%, Reborn Technology up by 23.25%, Ruihua Tai up by 20.93%, and Shenjian Co., Ltd. up by 20.50% [2] - The top five declining listed chemical companies were Huarong Chemical down by 20.01%, Enjie Co., Ltd. down by 18.36%, Weike Technology down by 13.15%, Jinbantai down by 12.83%, and Xingye Co., Ltd. down by 12.63% [2]

Market Overview - As of December 22, the Shanghai Composite Index closed at 3917.36 points, with a change of +0.69% [1] - The Shenzhen Component Index closed at 13332.73 points, with a change of +1.47% [1] - The ChiNext Index closed at 3191.98 points, with a change of +2.23% [1] Trading Volume Analysis - A total of 2494 stocks saw an increase in average transaction volume, with 62 stocks experiencing an increase of over 50% [1] - Notable stocks with significant increases in average transaction volume include *ST Ningke, Huatai, and Libote [1] - Conversely, 2067 stocks reported a decrease in average transaction volume [1] Active Stocks - The stocks with the highest increase in average transaction volume include: - *ST Ningke: +293.98% with an average transaction of 6786 shares [1] - Huatai: +179.00% with an average transaction of 1473 shares [1] - Libote: +169.14% with an average transaction of 1445 shares [1] Transaction Count Analysis - The stocks with the highest increase in transaction count include: - *ST Ningke: +6187.38% with 6476 transactions [2] - Luyuan Pharmaceutical: +5384.46% with 95978 transactions [2] - Huati Technology: +1860.89% with 76651 transactions [2] Stocks with Significant Increases - Stocks that saw both average transaction volume and transaction count increase by over 50% include: - *ST Ningke: +293.98% in volume and +6187.38% in transaction count [3] - *ST Aowei: +111.93% in volume and +1375.37% in transaction count [4] - Chuangyuan Technology: +94.88% in volume and +481.09% in transaction count [4]

Investment Rating - The report maintains an "Overweight" rating for the basic chemical industry [5] Core Insights - The global semiconductor sales are expected to continue growing in 2025, driven by demand from AI computing, data centers, and smart driving applications. The global semiconductor sales for January to October 2025 are projected to be approximately $612.1 billion, a year-on-year increase of 21.9%, with China's semiconductor sales at about $169.4 billion, up 12.5% [1][22] - The global semiconductor market size is forecasted to reach $700.9 billion in 2025, reflecting an 11.2% year-on-year growth, with the Asia-Pacific region's market size expected to be around $370.6 billion, growing by 9.8% [1][22] - The expansion of wafer production capacity is accelerating, particularly in advanced processes, with a projected compound annual growth rate (CAGR) of 7% from 2024 to 2028 for global 12-inch wafer monthly capacity, expected to reach 11.1 million pieces by 2028 [2][26] - The demand for high-bandwidth memory (HBM) is increasing due to data centers and AI processors, with the global semiconductor materials market expected to reach approximately $70 billion in 2025, a 6% increase year-on-year [3][30] - The advanced process requires higher performance parameters for electronic chemicals, leading to a concentration of industry competition towards leading suppliers capable of meeting these demands [4][32] Summary by Sections Semiconductor Market - AI demand is driving global semiconductor sales growth, with projections for 2025 indicating a significant increase in both global and Chinese markets [1][22] - The semiconductor market is expected to grow to $700.9 billion in 2025, with a further increase to $760.7 billion in 2026 [1][22] Wafer Production Capacity - The global semiconductor wafer production capacity is set to expand significantly, particularly in advanced processes, with a CAGR of 14% for 7nm and below processes from 2024 to 2028 [2][26] Semiconductor Materials - The global semiconductor materials market is projected to grow to $70 billion in 2025, with a notable increase in China's market size to approximately 174.1 billion yuan, reflecting a 21.1% year-on-year growth [3][30] Electronic Chemicals - The advanced semiconductor processes require higher purity and stability in electronic chemicals, leading to a competitive landscape favoring top suppliers with technological and scale advantages [4][32] Investment Recommendations - The report suggests focusing on leading companies in semiconductor materials, particularly those with strong technological capabilities and deep ties to downstream wafer manufacturers [34]

Core Viewpoint - Ningxia Zhongke Biological Technology Co., Ltd. is facing significant financial distress, having been ruled by the court to terminate its restructuring process and enter the execution phase of its restructuring plan, which poses a risk of bankruptcy if the plan is not executed successfully [2][5][9]. Group 1: Financial Performance - The company reported a net profit attributable to shareholders of -53.89 million yuan for the year 2024, with a net profit of -40.47 million yuan after deducting non-recurring gains and losses [3][7]. - For the third quarter of 2025, the company achieved an operating income of 32.74 million yuan, with a net profit attributable to shareholders of -25.10 million yuan and a net asset value of -17.92 million yuan [3][7]. Group 2: Regulatory Actions - The company received an administrative penalty from the China Securities Regulatory Commission (CSRC) on April 3, 2025, which has led to additional risk warnings on its stock according to the Shanghai Stock Exchange regulations [4][8]. - The stock has been under other risk warnings since April 8, 2024, due to the suspension of operations at its subsidiary, Zhongke New Materials, which has recently resumed production but remains uncertain regarding sustainable operational capacity [2][7]. Group 3: Market Activity - The company's stock has experienced a continuous trading halt for seven consecutive trading days, with a cumulative increase of 40.49% [4][10]. - Despite the recent stock price volatility, the company's fundamental situation has not changed significantly, and there are no undisclosed major information [4][10].

证券代码：600165 股票简称：*ST 宁科 公告编号：临 2025-137 宁夏中科生物科技股份有限公司 股票交易风险提示公告 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。 重要内容及风险提示： ● 宁夏中科生物科技股份有限公司（以下简称：公司）被法院裁定终止重整 程序，进入重整计划执行阶段。根据《中华人民共和国企业破产法》的相关规 定，在重整计划执行期间，如公司不执行或不能执行重整计划，将存在被法院 宣告破产的风险。如果公司被宣告破产，公司将被实施破产清算，根据《上海 证券交易所股票上市规则》第 9.4.15 条的规定，公司股票将面临被终止上市的 风险。 ● 宁夏中科生物新材料有限公司（以下简称：中科新材）于 2024 年 2 月 7 日进入停产状态后，根据《上海证券交易所股票上市规则》的相关规定，公司 股票自 2024 年 4 月 8 日起已被上海证券交易所（以下简称：上交所）实施其他 风险警示。虽然中科新材近期已经实现复工复产，但能否实现可持续的正常生 产经营能力，仍有不确定性。 ● 因公司 2021 年至 202 ...

Group 1 - The stock of *ST Ningke (600165) closed at 3.99 yuan on December 19, 2025, with a 5.0% increase from the previous trading day, resulting in a total market capitalization of 6.447 billion yuan [1] - The stock experienced an abnormal trading fluctuation, with a cumulative price deviation exceeding 12% over three consecutive trading days from December 16 to 18, 2025 [1] - The company is currently in the execution phase of a restructuring plan, and failure to execute this plan may lead to bankruptcy and delisting risks [1] Group 2 - The stock has been subject to other risk warnings due to factors such as the suspension of operations at a controlling subsidiary, three consecutive years of negative net profit, significant uncertainties in the audit report regarding ongoing operations, and administrative penalties from the China Securities Regulatory Commission [1] - Financial data for the third quarter of 2025 shows a net profit of -250.9792 million yuan and a net asset value of -179.1857 million yuan [1] - The company confirmed through self-inspection that there are no significant undisclosed matters [1]