Core Viewpoint - The article discusses the legal progress regarding investor compensation claims against Ningke Biological (600165) due to false statements in financial reporting and failure to disclose significant events [1][5]. Group 1: Legal Developments - On December 18, 2025, significant progress was made in the investor compensation case against Ningke Biological, with some investors receiving compensation [1]. - The law firm representing the investors has filed additional claims in court [1]. - A court ruling has been received, confirming that investors have won their case [1]. Group 2: Regulatory Findings - On April 4, 2024, Ningke Biological announced that it received an administrative penalty decision from the Ningxia Regulatory Bureau of the CSRC, confirming violations [5]. - The company inflated its 2022 revenue by 76.5941 million yuan and profit by 77.222 million yuan, representing 11.25% and 46.59% of total revenue and profit, respectively [5]. - The company failed to timely disclose significant events, including major debts, frozen bank accounts, and the suspension of key subsidiary operations [2][3][4]. Group 3: Investor Compensation Eligibility - Investors who purchased Ningke Biological shares between November 22, 2022, and April 6, 2023, and sold or held shares after April 6, 2023, are eligible for compensation [7]. - Additionally, investors who bought shares between April 28, 2023, and October 31, 2024, and sold or held shares after October 31, 2024, can also initiate claims [7].

面对股价的持续异动，*ST宁科连日来发布多份风险提示公告。在12月16日、12月18日和12月19日发布的公告中，公司明 确表示："目前公司基本面没有发生重大变化，也不存在应披露而未披露的重大信息，公司股票交易价格发生较大波动，敬请 广大投资者理性投资，注意投资风险。" 同时，*ST宁科在风险提示中特别强调了公司所面临的多项重大风险。例如，公司被法院裁定终止重整程序，进入重整计 划执行阶段。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，将面临被终止上市的 风险。公司控股子公司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，虽然近期已经实 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。 股价异动的背后，是*ST宁科刚刚完成的控股股东及实际控制人变更。12月16日，该公司发布公告称，已于12月15日收到 中国证券登记结算有限责任公司出具的《证券过户登记确认书》，顺利完成资本公积转增股票转入投资人账户事项。根据《重 整计划》，湖南新合新生物医药有限公司（以下简称"湖南新合新"）成为公司新的控股股东，持有*ST宁科3.57亿股股份， ...

Company Control Change - *ST Ningke has experienced a significant stock price increase, achieving five consecutive trading limits. The company is currently in the execution phase of its restructuring plan [1][3] - The company announced that its controlling shareholder and actual controller will change, with Liu Xirong becoming the new actual controller [1][3] - On December 16, the company disclosed that 882 million shares, accounting for 54.64% of the total share capital, were transferred from the management's securities account to the designated securities account of the restructuring investor [1][3] Financial Misrepresentation - In 2022, the company inflated its operating revenue by 76.5941 million yuan and its total profit by 77.222 million yuan, representing 11.25% and 46.59% of the respective figures for that period [1][3] - The company failed to disclose significant events in a timely manner, particularly regarding major debts and the suspension of key business operations of its subsidiaries [1][3] Investor Compensation - The successful restructuring of *ST Ningke is expected to benefit investor compensation efforts. The restructuring plan is set to be executed until December 31, 2025 [2][4] - Investors who meet specific criteria can actively participate in compensation registration to recover losses incurred due to the company's financial misrepresentation [2][4] - Legal representation by experienced lawyers, such as Liu Peng, is emphasized as crucial for maximizing investor rights and compensation outcomes [2][4]

Group 1 - The company's stock experienced an abnormal fluctuation, with a cumulative closing price increase of over 12% over three consecutive trading days on December 16, 17, and 18, 2025 [1] - The stock has been under other risk warnings by the Shanghai Stock Exchange since April 8, 2024 [1] - Although Zhongke New Materials has recently resumed production, there remains uncertainty regarding its ability to achieve sustainable normal production and operational capacity [1]

*ST宁科（600165）(600165.SH)公告，公司股票于2025年12月16日、12月17日、12月18日连续三个交易 日内日收盘价格涨幅偏离值累计超过12%，属于股票交易异常波动情形。公司股票自2024年4月8日起已 被上海证券交易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。 ...

一、湖南新合新生物医药有限公司及刘喜荣先生没有正在筹划涉及贵司的重 大资产重组、股份发行、收购、债务重组、业务重组、资产剥离、资产注入、股 份回购、股权激励、破产重整、重大业务合作、引进战略投资者等重大事项。 二、在 2025年12月 16 日、12 月 17 日、12 月 18 日贵司股票交易异常波动 期间湖南新合新生物医药有限公司及刘喜荣先生不存在买卖贵司股票的行为。 特此回复。 关于《宁夏中科生物科技股份有限公司股票交易异 常波动询证函》的回函 宁夏中科生物科技股份有限公司: 我司于 2025年12月18日收到贵司发来的《股票交易异常波动询证函》,现 回复如下: 疾药有限公司 实际控制人: 二〇二五年十二月十八日 ...

证券代码：600165 股票简称：*ST 宁科 公告编号：临 2025-136 宁夏中科生物科技股份有限公司 股票交易异常波动暨风险提示性公告 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。 ● 公司于 2025 年 4 月 3 日收到中国证券监督管理委员会（以下简称：中国 证监会）宁夏监管局下发的《行政处罚决定书》（宁证监处罚字[2025]2 号），中 国证监会宁夏监管局对相关违法违规主体作出了行政处罚，根据《上海证券交 易所股票上市规则》的相关规定，公司股票已被上交所叠加实施其他风险警示。 截至本公告披露日，前述"其他风险警示"情形尚未解除。 ● 目前公司基本面没有发生重大变化，也不存在应披露而未披露的重大信 息，公司股票交易价格发生较大波动，敬请广大投资者理性投资，注意投资风 险。 ● 公司股票于 2025 年 12 月 16 日、12 月 17 日、12 月 18 日连续三个交易日 内日收盘价格涨幅偏离值累计超过 12%，根据《上海证券交易所交易规则》的 有关规定，属于股票交易异常波动情形。 一、股票交易异常波动的具体 ...

证券代码：600165 股票简称：*ST 宁科 公告编号：临 2025-135 宁夏中科生物科技股份有限公司 股票交易风险提示公告 1 ● 公司 2025 年第三季度实现营业收入 32,735.24 万元、归属于上市公司股东 的净利润为-25,097.92 万元、归属于上市公司股东的净资产为-17,918.57 万元。 ● 公司于 2025 年 4 月 3 日收到中国证券监督管理委员会（以下简称：中国 证监会）宁夏监管局下发的《行政处罚决定书》（宁证监处罚字[2025]2 号），中 国证监会宁夏监管局对相关违法违规主体作出了行政处罚，根据《上海证券交 易所股票上市规则》的相关规定，公司股票已被上交所叠加实施其他风险警示。 截至本公告披露日，前述"其他风险警示"情形尚未解除。 ● 公司股票近五个交易日连续涨停，累计涨幅 27.46%，2025 年 12 月 17 日 振幅 0.00%、换手率 0.01%。近期，公司股票交易价格波动幅度较大，敬请广 大投资者注意二级市场交易风险。 ● 目前公司基本面没有发生重大变化，也不存在应披露而未披露的重大信息， 公司股票交易价格发生较大波动，敬请广大投资者理性投资，注意投资 ...

Core Viewpoint - Ningke Biological (600165) is facing legal actions due to false statements in its financial reports, leading to investor claims for compensation following a court ruling in favor of investors [1][5]. Group 1: Legal Proceedings - The law firm Shanghai Jiucheng has submitted another case for investor compensation against Ningke Biological on December 16, 2025 [1][11]. - Investors represented by the law firm have won a previous court ruling, and the team is continuing to accept new claims from other investors [5][11]. Group 2: Regulatory Violations - On April 4, 2024, Ningke Biological announced that it received an administrative penalty from the Ningxia Regulatory Bureau of the CSRC, confirming violations including false records in its 2022 annual report [7][11]. - The company inflated its 2022 revenue by 76.5941 million yuan and its total profit by 77.222 million yuan, which accounted for 11.25% and 46.59% of the respective totals [7][11]. Group 3: Disclosure Failures - Ningke Biological failed to timely disclose significant events, including major debts, frozen bank accounts, and the suspension of key subsidiary operations [8][10][12]. Group 4: Investor Compensation Eligibility - Investors who purchased Ningke Biological shares between November 22, 2022, and April 6, 2023, or between April 28, 2024, and October 31, 2024, may still initiate claims for compensation [10][14].

Core Viewpoint - Ningxia Zhongke Biotechnology Co., Ltd. (*ST Ningke) has achieved a five-day consecutive trading limit increase, indicating market optimism following the announcement of a significant stock transfer and the commencement of its restructuring plan execution [1][2]. Group 1: Company Developments - On December 16, *ST Ningke announced the transfer of 882 million shares (54.64% of total shares) to a designated account of the restructuring investor, Hunan Xinheng Biotechnology Co., Ltd., which now holds 357 million shares (22.10% of total shares) and is the controlling shareholder [1]. - The company has been ruled by the court to terminate its restructuring process and enter the execution phase of the restructuring plan, which is critical for avoiding bankruptcy [1][2]. - The core subsidiary, Ningxia Zhongke New Materials Co., Ltd., has resumed operations after a production halt but faces uncertainty regarding sustainable operational capabilities [3]. Group 2: Financial Performance - The company reported a net profit attributable to shareholders of -538 million yuan for the year 2024, with a net profit of -404 million yuan after deducting non-recurring gains and losses, indicating ongoing financial distress [3]. - The company has received a qualified audit report highlighting significant uncertainties regarding its ability to continue as a going concern, following three consecutive years of negative net profits [3]. Group 3: Restructuring Risks - The restructuring plan execution phase may involve fundamental changes such as debt restructuring, changes in equity structure, and potential introduction of strategic investors, which could create conditions for restoring operational capabilities [2]. - However, there are significant risks during this phase, including the complexity of execution, potential failure to meet improvement expectations, and market or industry environment changes, which could lead to bankruptcy if the plan fails [2][3].