Financial Performance - The company's operating revenue for Q3 2025 was ¥83,671,724.18, representing a year-on-year increase of 21.94%[3] - The total profit for the period was a loss of ¥4,915,801.13, with a net profit attributable to shareholders of ¥-4,217,064.75[3] - The company's net profit for the current period is -8,769,334.47 CNY, compared to -18,349,533.84 CNY in the same period last year, showing an improvement of approximately 52%[20] - Operating profit for the current period is -8,180,848.60 CNY, which is an improvement from -18,506,147.65 CNY year-over-year[20] - The total comprehensive income for the current period is -8,769,334.47 CNY, compared to -18,349,533.84 CNY in the previous year, reflecting a significant improvement[20] - The company has reported a basic and diluted earnings per share of -0.01 CNY for the current period, compared to -0.04 CNY in the same period last year[20] Assets and Liabilities - The total assets at the end of the reporting period were ¥1,042,396,186.53, an increase of 5.67% compared to the end of the previous year[4] - Total assets reached RMB 1,042,396,186.53 as of September 30, 2025, compared to RMB 986,447,937.29 at the end of 2024, reflecting an increase of approximately 5.7%[14] - Total liabilities increased to RMB 348,550,082.79 as of September 30, 2025, from RMB 283,832,499.09 at the end of 2024, representing a growth of about 22.8%[15] - The company's equity attributable to shareholders was RMB 633,559,204.64 as of September 30, 2025, down from RMB 639,953,363.47 at the end of 2024, indicating a decrease of approximately 1.0%[15] Cash Flow - The net cash flow from operating activities was a negative ¥22,957,803.87 for the year-to-date period[3] - Cash flow from operating activities for the first three quarters of 2025 is -22,957,803.87 CNY, compared to -55,584,810.03 CNY in the same period of 2024, indicating a significant reduction in cash outflow[23] - Total cash inflow from operating activities is 215,580,013.84 CNY, while total cash outflow is 238,537,817.71 CNY, resulting in a net cash flow from operating activities of -22,957,803.87 CNY[23] - The company recorded cash inflow from investment activities of 32,076,417.28 CNY, while cash outflow was 46,837,528.14 CNY, leading to a net cash flow from investment activities of -14,761,110.86 CNY[23] - Cash inflow from financing activities is 85,000,000.00 CNY, with cash outflow of 17,241,006.19 CNY, resulting in a net cash flow from financing activities of 67,758,993.81 CNY[24] - The company's cash and cash equivalents at the end of the period amount to 124,886,787.57 CNY, compared to 125,766,205.49 CNY at the end of the previous year[24] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 17,332[8] - The top shareholder, Li Songqiang, holds 38,000,000 shares, representing 8.66% of the total shares[9] Borrowings - The company reported a significant increase in short-term borrowings by 520.46% due to increased mortgage borrowings[7] - Long-term borrowings rose to RMB 95,900,000.00 as of September 30, 2025, compared to RMB 51,800,000.00 at the end of 2024, reflecting an increase of approximately 84.9%[15] Operating Costs and Revenue - Total operating revenue for the first three quarters of 2025 reached RMB 196,422,633.57, an increase from RMB 185,369,320.18 in the same period of 2024, representing a growth of approximately 5.7%[18] - Total operating costs for the first three quarters of 2025 were RMB 211,011,562.12, slightly up from RMB 208,718,253.62 in 2024, indicating a marginal increase of about 1.6%[18] - Operating costs included RMB 173,643,381.78 in operating expenses for 2025, compared to RMB 168,084,312.44 in 2024, reflecting an increase of approximately 3.4%[18] Other Information - Non-recurring gains and losses for the period totaled ¥2,814,010.35, with government subsidies contributing ¥1,085,800.46[6] - The company has not reported any new product developments or market expansion strategies in this quarter[3] - The company has not reported any net profit from subsidiaries prior to consolidation for the current and previous periods[20]

重要内容提示： 青海华鼎实业股份有限公司（下称： "公司"）股票于 2025 年 10 月 21 日、10 月 22 日、10 月 23 日连续 3 个交易日内收盘价格跌 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的情形。 证券代码：600243 证券简称：*ST 海华 公告编号：临 2025-047 经向公司控股股东、实际控制人发函核实：截至本公告披露日， 不存在应披露而未披露的信息。 青海华鼎实业股份有限公司 股票交易异常波动公告 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 年度的利润总额、净利润或者扣除非经常性损益后 的净利润孰低者为负值且扣除与主营业务无关的业务收入和不具备 商业实质的收入后的营业收入低于 3 亿元，根据《上海证券交易所股 票上市规则》第 9.3.2 条（一）规定，公司股票已于 2025 年 4 月 23 日被实施退市风险警示，敬请广大投资者注意投资风险。 2025 年上半年公司实现营业收入为 1.13 亿元，归属于上市公 司股东的净利 ...

Core Viewpoint - The company *ST Haihua (formerly Qinghai Huading) is undergoing another change in actual control, with the new controllers being Zhu Jiayang, Zhang Shundi, and Zhang Dong, marking at least the fourth change in control since its listing in 2000. The company is facing significant operational challenges and is on the brink of delisting due to continuous losses and a declining market value [2][20]. Company Control Changes - The actual control of *ST Haihua has changed hands multiple times, with the latest shift occurring on October 17, 2025, when the control moved from Wang Feng to Zhu Jiayang, Zhang Shundi, and Zhang Dong [2][20]. - Since its listing, the company has transitioned from state-owned to management-led and now to private capital control, with each transition failing to deliver on promises of revitalization [9][20]. Historical Context - Established in 1998, *ST Haihua was initially a state-owned enterprise with significant government backing, holding a dominant position in the heavy machinery sector [3][9]. - The company has experienced a series of ownership changes, with the first major shift occurring in 2006 when Qinghai Tianxiang attempted to gain control through a share auction [4][5]. Financial Performance - The company has struggled financially, with revenue declining from 918 million yuan in 2017 to 535 million yuan in 2022, and a net loss of 418 million yuan in 2019 [11][13]. - Despite attempts to pivot to new business areas, such as cultural and clean energy sectors, the company has continued to report losses, with a net loss of 159 million yuan in 2023 and 89.94 million yuan in 2024 [15][16]. Market Position and Challenges - *ST Haihua, once a leader in the heavy machinery market, has seen its market value plummet to 2.3 billion yuan, teetering on the edge of delisting [2][9]. - The company has been criticized for its lack of coherent business strategy, with each new controller failing to invest in core resources and instead using the company as a financing platform [17][18]. Future Outlook - The new controllers face the challenge of reversing the company's fortunes and addressing the delisting risk, with market observers keenly watching for any new business resources or strategic shifts [20].

Core Viewpoint - *ST Haihua's stock resumed trading with a closing price of 5.58 yuan, reflecting a 5.08% increase, following the announcement of potential changes in control due to share transfer negotiations involving its actual controller, Wang Feng [1] Group 1: Share Transfer and Control Change - The actual controller Wang Feng is planning a share transfer that may lead to a change in company control, prompting a temporary suspension of trading [1] - A total of 43,233,875 shares, representing 9.85% of the company's total shares, will be transferred to Langning Yihe from Qinghai Yifeng Technology Investment Co., Ltd., Wang Feng, and Li Songqiang [2] - The share transfer agreements were signed on October 17, 2025, with shares sold at 5.31 yuan each, totaling approximately 229.57 million yuan for all transactions [3][4] Group 2: New Control Structure - Following the completion of the share transfer, the controlling shareholder will change from Qinghai Heavy Machinery Co., Ltd. to Langning Yihe, with the actual controllers being Zhu Jiayang, Zhan Shundi, and Zhang Dong [5] - Langning Yihe will directly hold 9.85% of the company's shares and, through various agreements, will control 16.21% of the voting rights [4][5] - The cash payment for the acquisition amounts to 349.57 million yuan, with 300.26 million yuan already received from the partners [5][6]

Group 1 - Yidao Information plans to acquire 100% equity of Langguo Technology and Chengwei Information, with trading resuming on October 20, 2025. The acquisition will be financed through a combination of share issuance and cash payments, and is expected to constitute a major asset restructuring [1][3] - Langguo Technology is a leading provider of smart device technology solutions focused on interactive control and device interconnectivity, while Chengwei Information specializes in digital solutions for the IoT industry, possessing advanced RFID core technology. The acquisition aims to enhance product offerings and market positioning in the AIoT and RFID sectors [2] Group 2 - China Life Insurance expects a net profit increase of 50% to 70% year-on-year for the first three quarters of 2025, projecting a profit range of approximately 156.79 billion to 177.69 billion yuan [4] - The company emphasizes its role as an economic stabilizer and its commitment to long-term, value-driven investments, which have contributed to a significant increase in investment returns [4] Group 3 - Silan Microelectronics has signed a strategic cooperation agreement with the Xiamen municipal government to jointly invest in a 12-inch high-end analog integrated circuit chip manufacturing line, with a total planned investment of 20 billion yuan [5][6] - The project aims to establish a production capacity of 45,000 wafers per month and will be implemented in two phases, with the first phase requiring an investment of 10 billion yuan [5] Group 4 - Weigao Blood Products is planning to issue shares to acquire 100% equity of Weigao Purui Pharmaceutical Packaging, which will become a wholly-owned subsidiary upon completion of the transaction. The stock will be suspended from trading starting October 20, 2025, for a period not exceeding 10 trading days [14] - *ST Haihua is undergoing a change in control, with trading resuming on October 20, 2025, following a series of agreements related to share transfers and voting rights [16][28] Group 5 - Various companies have reported their third-quarter earnings, with notable performances including: - Wohua Pharmaceutical: Revenue of 625 million yuan, up 8.31%, and net profit of 63.995 million yuan, up 179.34% [8] - Zijin Mining: Revenue of 254.2 billion yuan, up 10.33%, and net profit of 37.864 billion yuan, up 55.45% [8] - Huyao Co.: Revenue of 589.41 billion yuan, up 29.57%, and net profit of 42.16 billion yuan, up 39.59% [9] - Companies like Hikvision and Xianheng Medical have also reported varying results, with Hikvision achieving a revenue of 657.58 billion yuan, up 1.18%, and net profit of 93.19 billion yuan, up 14.94% [10]

Core Viewpoint - The actual controller of *ST Haihua, Wang Feng, is planning a significant share transfer that may lead to a change in the company's control, with the new controlling shareholders being Zhang Jiayang, Zhan Shundi, and Zhang Dong [1][7]. Group 1: Share Transfer and Control Change - On October 17, *ST Haihua announced that Wang Feng is planning a major share transfer, which could result in a change of control of the company [1][6]. - After the completion of this equity change, the controlling shareholder will shift from Qinghai Heavy Machinery Co., Ltd. to Langning Yihe (Hangzhou) Enterprise Management Partnership (Limited Partnership) [1][7]. - The company’s actual controllers will change from Wang Feng to Zhang Jiayang, Zhan Shundi, and Zhang Dong [1][7]. Group 2: Stock Suspension and Resumption - The company's stock was suspended from trading on October 13 due to the ongoing negotiations regarding the control change [6][7]. - The stock is set to resume trading on October 20 [2][3]. Group 3: Financial Performance - In the first half of 2025, *ST Haihua reported an operating revenue of 113 million yuan and a net loss of 2.1771 million yuan, with a deductive net profit loss of 5.1115 million yuan [8]. - The company faced losses due to market competition affecting the natural gas business's gross margin, high costs from new product trials in the gear business, and fixed asset depreciation [8].

Core Viewpoint - The actual controller of *ST Haihua is undergoing a change, with the company's stock set to resume trading on October 20, 2025, after a temporary suspension due to the potential transfer of control [1][2]. Group 1: Control Change - On October 17, 2025, *ST Haihua announced that its actual controller, Wang Feng, is planning to transfer shares, which may lead to a change in control [1][2]. - A transfer agreement was signed between Langning Yihe and Qinhai Yifeng Technology Investment Co., Ltd., along with Wang Feng, indicating a shift in control to Langning Yihe [2]. - After the completion of this equity change, the controlling shareholder will change from Qinhai Heavy Machine Tool Co., Ltd. to Langning Yihe, with the actual controllers changing to Zhu Jiayang, Zhan Shundi, and Zhang Dong [2]. Group 2: Company Overview - *ST Haihua, established in 1998 and listed on the Shanghai Stock Exchange in 2000, primarily engages in the research, production, and sales of machine tools, elevator parts, and lighting equipment [3]. - In the first half of 2025, *ST Haihua reported revenue of 113 million yuan and a net loss of 2.1771 million yuan, with a non-recurring net profit loss of 5.1115 million yuan [3]. - The company is currently operating normally, with no significant changes in the internal or external business environment, but has been warned of delisting risks due to financial performance [3]. Group 3: Market Capitalization - As of the close on October 17, 2025, *ST Haihua's total market capitalization was 2.33 billion yuan [4].

Core Viewpoint - The equity change involves the transfer of a total of 43,233,875 shares (9.85% of total shares) from three parties to Langning Yihe, leading to a change in control of the company [1] Group 1: Equity Transfer Details - Qinhai Yifeng Technology Investment Co., Ltd., Li Songqiang, and Wang Feng transferred their shares to Langning Yihe, with Wang Feng also entrusting voting rights of an additional 9,874,125 shares [1] - Langning Yihe, through acquiring 70% of Yifeng Technology, gains control over Qinhai Heavy Machinery, which allows it to exercise voting rights corresponding to 4.11% of the company's shares [1] - After the dissolution of the "Joint Action Agreement" between Wang Feng and Yu Shiguang, both parties will no longer act in concert regarding company decisions [1] Group 2: Control and Management Changes - Following the equity transfer, the controlling shareholder shifts from Qinhai Heavy Machinery to Langning Yihe, with the actual controllers being Zhu Jiayang, Zhan Shundi, and Zhang Dong [2] - Langning Yihe's operational management is handled by Langning Energy, which is fully owned by Zhu Jiayang, Zhan Shundi, and Zhang Dong [2] Group 3: Financial Aspects of the Acquisition - The cash consideration for the acquisition amounts to 349.5719 million yuan, with 300.26 million yuan already received, funded by the partners [3] - The actual controllers contributed 240.26 million yuan from their own funds, while a partner contributed 60 million yuan, with the remaining amount to be funded by Langning Yihe [3]

Core Points - *ST Haihua (600243.SH) announced that in order to protect the interests of all investors, it has applied to the Shanghai Stock Exchange for the resumption of trading of its shares on October 20, 2025 [1] Group 1 - The company is resuming trading to comply with regulations set by the Shanghai Stock Exchange [1] - The resumption date is specifically set for October 20, 2025 [1]

Core Viewpoint - The equity change involves the transfer of a total of 43,233,875 shares (9.85% of the total shares) of *ST Haihua to Langning Yihe, resulting in a change of control from Qinghai Heavy Machine Tool Co., Ltd. to Langning Yihe [1][2] Group 1: Equity Transfer Details - Qinghai Yifeng Technology Investment Co., Ltd., Li Songqiang, and Wang Feng transferred their shares to Langning Yihe, with Wang Feng also entrusting voting rights of an additional 9,874,125 shares [1] - Langning Yihe, through acquiring 70% of Yifeng Technology, gains control over Qinghai Heavy Machine, which allows it to exercise voting rights corresponding to 16.21% of the total shares of *ST Haihua [1] Group 2: Control and Management Changes - After the equity transfer, the controlling shareholder of the company changes from Qinghai Heavy Machine Tool Co., Ltd. to Langning Yihe (Hangzhou) Enterprise Management Partnership [2] - The actual controllers of Langning Yihe are Zhu Jiayang, Zhan Shundi, and Zhang Dong, who collectively manage the partnership [2] Group 3: Financial Aspects of the Acquisition - The cash consideration for the acquisition amounts to 349.5719 million yuan, with 300.26 million yuan already received, funded by the partners [3] - The actual controllers contributed 240.26 million yuan from their own funds, while another partner contributed 60 million yuan, with the remaining amount to be funded by Langning Yihe [3]