Core Viewpoint - The annual reports of listed companies serve as a comprehensive summary of their operational performance and a test of their risk mitigation efforts regarding delisting warnings, with several companies successfully lifting such warnings after disclosing their 2024 annual reports [1][2]. Group 1: Risk Mitigation - As of May 6, 2024, eight companies, including WenTou Holdings, have officially lifted delisting or other risk warnings [2]. - Companies like HeZhan Energy and ShuGuang Group have also successfully removed their risk warnings, indicating positive changes in their fundamentals [2][3]. - The removal of risk warnings signifies that the core factors leading to these warnings have been eliminated, resulting in substantial improvements in financial health and operational stability for these companies [4]. Group 2: Operational Improvement - ShuGuang Group reported a 19.24% increase in vehicle production and a 66.40% increase in sales, with total revenue reaching 1.475 billion yuan, an 8.20% year-on-year growth [4]. - HeZhan Energy achieved a remarkable 1509.40% increase in revenue, totaling 383 million yuan, alongside a significant reduction in its debt ratio [5]. - WenTou Holdings reported a turnaround in its financial performance, ending years of losses with a net profit exceeding 10 million yuan in the first quarter of 2025 [5]. Group 3: Market Impact - The removal of risk warnings enhances market image and reputation, boosts confidence among stakeholders, and improves stock liquidity, attracting more investors [5]. - This positive shift also facilitates the attraction of new investors and partners, further aiding business development for the companies involved [5].

Financial Performance - The company reported a basic earnings per share of -0.1100 yuan for Q1 2025, a decrease of 22.22% compared to -0.0900 yuan in Q1 2024, and unchanged from Q1 2023 [1] - The net profit for Q1 2025 was -0.73 billion yuan, reflecting a 14.06% increase in losses compared to -0.64 billion yuan in Q1 2024, and slightly improved from -0.72 billion yuan in Q1 2023 [1] - The company's total revenue for Q1 2025 was 3.62 billion yuan, a 1.4% increase from 3.57 billion yuan in Q1 2024, and up from 2.99 billion yuan in Q1 2023 [1] - The return on equity for Q1 2025 was -5.57%, a decline of 44.3% from -3.86% in Q1 2024, and worse than -3.39% in Q1 2023 [1] Shareholder Information - The top ten unrestricted shareholders collectively hold 20,440.94 million shares, accounting for 30.25% of the circulating shares, with a decrease of 194.78 million shares compared to the previous period [2] - The largest shareholder, Beijing Weizi West Consulting Management Center (Limited Partnership), holds 9,789.50 million shares, representing 14.49% of the total share capital, with no change [3] - New entrants among the top shareholders include Huyan Hedong, An Zhoufeng, An Zhouhu, and Goldman Sachs LLC, while Mao Leping, Zhang Li, Yang Wenjie, and Liao Lubin have exited the top ten [3] Dividend Policy - The company has announced that it will not distribute dividends or transfer shares this time [4]

Financial Performance - The company's operating revenue for Q1 2025 was ¥362,154,130.62, representing a year-on-year increase of 1.49% compared to ¥356,840,759.79 in the same period last year[4] - The net profit attributable to shareholders of the listed company was -¥72,777,759.84, a decrease from -¥63,747,131.89 in the previous year, indicating a decline in profitability[4] - The company reported a basic and diluted earnings per share of -¥0.11, worsening from -¥0.09 in the same period last year[4] - Net loss for Q1 2025 was CNY 74,629,129.84, compared to a net loss of CNY 65,039,279.82 in Q1 2024, indicating a deterioration in performance[18] Cash Flow - The net cash flow from operating activities was -¥45,819,364.65, an improvement from -¥69,161,992.52 in the same period last year, reflecting better cash management[4] - The net cash flow from operating activities for Q1 2025 was negative CNY 45,819,364.65, an improvement from negative CNY 69,161,992.52 in Q1 2024[21] - Cash received from sales of goods and services in Q1 2025 was CNY 233,731,155.86, an increase from CNY 178,520,816.55 in Q1 2024[21] - The net cash flow from investing activities was -5,336,216.87, a decrease from -509,994.00 in the previous period[22] - Cash inflow from financing activities totaled 108,710,000.00, compared to 115,270,000.00 previously[22] - The net cash flow from financing activities was 17,881,208.53, a significant decrease from 85,903,710.89 in the prior period[22] - The cash and cash equivalents at the end of the period amounted to 82,101,429.56, down from 69,258,564.57 previously[22] - The cash flow from financing activities included debt repayment of 79,053,388.89, significantly higher than 20,000,000.00 in the previous period[22] Assets and Liabilities - Total assets at the end of the reporting period were ¥3,467,922,713.46, down 1.96% from ¥3,537,212,655.25 at the end of the previous year[5] - The total current assets as of March 31, 2025, amount to RMB 1,114,413,805.47, a decrease from RMB 1,150,048,486.10 as of December 31, 2024, reflecting a decline of approximately 3.1%[12] - Total liabilities increased to RMB 1,114,413,805.47 from RMB 1,150,048,486.10, reflecting a decrease of approximately 3.1%[12] - The total liabilities as of the reporting date were CNY 2,164,697,095.37, slightly up from CNY 2,160,792,907.32 in the previous period[14] - The total equity attributable to shareholders decreased to CNY 1,269,960,009.42 from CNY 1,341,313,880.53, reflecting a decline of approximately 5.3%[14] Operational Efficiency - The weighted average return on net assets was -5.57%, compared to -3.86% in the previous year, indicating a decline in efficiency[4] - The decrease in net profit was primarily due to a reduction in vehicle sales compared to the previous year[7] - The company recorded non-operating income of ¥164,160.00 from government subsidies, while incurring a loss of ¥360,323.80 from the disposal of non-current assets[6] - Research and development expenses for Q1 2025 were CNY 13,875,142.20, a decrease of 6.16% from CNY 14,790,626.75 in Q1 2024[17] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 28,407, with the largest shareholder holding 14.32% of the shares[9] - The company has no significant new product launches or technological developments reported during the conference call[11] Inventory and Receivables - Accounts receivable increased slightly to RMB 432,933,954.24 from RMB 429,515,592.63, showing a marginal increase of approximately 0.6%[12] - Inventory decreased to RMB 247,752,384.00 from RMB 254,301,924.83, indicating a reduction of about 2.6%[12] - Accounts payable remained stable at RMB 835,235,035.24 compared to RMB 835,179,368.45, showing no significant change[13] Contract Liabilities - The company reported a significant increase in contract liabilities to RMB 48,442,609.05 from RMB 22,752,739.83, indicating a growth of about 113.0%[13]

2025 年 5 月 8 日 1 2024 年年度股东会会议材料 议案一： 2024 年度董事会工作报告 各位股东及股东代理人： 2024 年年度股东会会议材料 辽宁曙光汽车集团股份有限公司 2024 年年度股东会 会议材料 报告期内，公司董事会严格按照《公司法》《证券法》等法律法 规和《公司章程》的相关规定，切实履行股东会赋予的董事会职责， 勤勉尽责地开展各项工作，促进公司持续、健康、稳定的发展。 一、2024 年度经营情况 2024 年，面对行业竞争加剧、市场复杂多变的挑战，公司董事 会与管理团队一起积极应对，制定有效的经营措施，确保公司各项经 营活动的顺利开展，为公司后续发展奠定了基础。 报告期内，公司营业收入为 14.75 亿元，较上年同期增加了 8.2%； 归属于母公司净利润为-3.41 亿元，亏损同比收窄。2024 年底，公司 总资产 35.37 亿元，归属于上市公司股东的净资产 13.41 亿元。 二、2024 年度董事会运作情况 1、履职尽责，科学决策，把握公司发展方向。 2024 年，公司以现场会议和通讯方式共召开了 11 次董事会会议， 审议通过了 54 项董事会议案，其中 16 项议案提 ...

Core Viewpoint - ST Shuguang announced the removal of other risk warnings on its stock, changing its name from "ST Shuguang" to "Shuguang Co., Ltd." with the same stock code 600303, effective April 21, 2025 [1][3]. Group 1: Stock Suspension and Resumption - The company will suspend trading on April 18, 2025, for one day and will resume trading on April 21, 2025 [2][3]. - The stock price fluctuation limit will change from 5% to 10% after the removal of risk warnings [3]. Group 2: Historical Context and Internal Control - The company faced internal control issues leading to a negative audit report in 2021, resulting in the implementation of risk warnings since May 6, 2022 [3]. - The company submitted an application to the Shanghai Stock Exchange to remove the risk warnings on April 10, 2023, after rectifying internal control deficiencies [3][9]. Group 3: Recent Stock Performance - ST Shuguang's stock has shown strong performance, achieving five consecutive trading days of gains from April 10 to April 16, 2025 [3]. - As of April 17, 2025, the stock price increased by 1.29% to 3.92 CNY per share, with a total market capitalization of 2.68 billion CNY [4]. Group 4: Financial Performance - For the year 2024, the company reported a total revenue of 1.475 billion CNY, an increase of 8.20% year-on-year, but still recorded a net loss of 341 million CNY, marking the fourth consecutive year of losses [8]. - The company sold 2,907 vehicles in 2024, facing significant operational pressure due to low production capacity utilization [8].

Group 1 - Sanan Optoelectronics received a loan commitment letter from China Industrial Bank for a repurchase loan of 1 billion yuan, valid for three years, to support stock buybacks [2] - Changying Precision reported a 23.40% increase in revenue to 16.934 billion yuan and an 800.24% increase in net profit to 772 million yuan for 2024, driven by humanoid robot projects [2] - Zhuhai Group's Q1 net profit increased by 74.07% to 277 million yuan, attributed to gains from precious metals [2] Group 2 - Qianyuan Power expects a Q1 net profit increase of 330%-365%, driven by a 62.70% increase in water inflow and a 59.40% rise in power generation [3] - Guofang Group's stock has experienced significant volatility, with a current P/E ratio of 110.1, indicating potential irrational speculation [3] - Fangyuan Co. decided to terminate a 3 billion yuan lithium carbonate production project due to market conditions and strategic changes, having already invested 97 million yuan [4] Group 3 - Baosteel plans to acquire a 49% stake in Maanshan Steel for a total consideration of 9 billion yuan, consisting of 5.139 billion yuan for equity purchase and 3.861 billion yuan for capital increase [5]

Core Viewpoint - ST Shuguang has successfully completed the rectification of internal control deficiencies, eliminating uncertainties regarding its ability to continue operations, and will officially remove its "ST" designation after nearly three years [1][3]. Group 1: Company Background - ST Shuguang specializes in automotive axle components and complete vehicles, with notable brands including "Huang Hai Bus" and "Shuguang Axle" [3]. - The company faced internal control issues leading to negative audit opinions in 2021 and 2022, resulting in its stock being placed under risk warnings [3]. Group 2: Recent Developments - In August 2023, a change in the controlling shareholder ended a prolonged control dispute, providing an opportunity for operational recovery [6]. - The company reported significant improvements in production and sales for 2024, with complete vehicle production and sales increasing by 19.24% and 66.40% respectively, and axle production and sales rising by 29.48% and 19.57% [6]. Group 3: Financial Performance - For the fiscal year 2024, ST Shuguang achieved revenue of 1.475 billion yuan, an increase of 8.20% year-on-year, while the net loss attributable to shareholders was reduced to 341 million yuan [6]. - The company also reported substantial improvements in cash flow from operating activities and working capital [6]. Group 4: Audit and Regulatory Changes - The auditing firm issued standard unqualified opinions on both the internal control and financial statements for the fiscal year 2024 [6]. - On April 11, 2025, the board applied to the exchange to lift the risk warning, which was approved on April 17, 2025, allowing the stock to resume trading without risk warnings on April 21, 2025 [7].

证券代码：600303 证券简称：ST 曙光 公告编号：临 2025-024 辽宁曙光汽车集团股份有限公司 关于撤销其他风险警示暨停牌的公告 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。 重要内容提示： 证券停复牌情况：适用 因辽宁曙光汽车集团股份有限公司（以下简称"公司"）股票撤销其他风险警 示，公司的相关证券停复牌情况如下： | 证券代码 | 证券简称 | | 停复牌类型 | | 停牌起始日 | 停牌 | 停牌终止日 | 复牌日 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | | | 期间 | | | | 600303 | ST | 曙光 | A 股 | 停牌 | 2025/4/18 | 全天 | 2025/4/18 | 2025/4/21 | 第一节 股票种类简称、证券代码以及撤销风险警示的起始日 第二节 撤销其他风险警示的适用情形 2 停牌日期为2025 年 4 月 18 日。 撤销起始日为2025 年 4 月 21 日。 撤销后 ...

ST曙光（600303）公告，公司股票将于2025年4月18日停牌一天，并于2025年4月21日起复牌同时撤销 其他风险警示。撤销后，股票简称变更为曙光股份，证券代码600303保持不变。 ...

股票简称：ST 曙光 证券代码：600303 编号：临 2025-023 辽宁曙光汽车集团股份有限公司 关于股票交易风险提示的公告 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 担个别及连带责任。 重要内容提示： 辽宁曙光汽车集团股份有限公司（以下简称"公司"）2024 年度归属于上市公司股东的净利润为-3.41 亿元，连续 4 年亏损，请 投资者注意投资风险。 根据《上海证券交易所股票上市规则》的相关规定，公司于 2025 年 4 月 10 日向上海证券交易所提交了撤销对公司股票实施其他 风险警示的申请，尚需上海证券交易所的审核同意，公司股票能否被 撤销其他风险警示存在不确定性，请投资者注意投资风险。 2024 年度，公司因面临激烈的汽车市场竞争，全年销售整车 2,907 辆，产能利用率较低，营业利润无法覆盖折旧、摊销以及相关 费用，面临较大的经营压力。公司将持续聚焦核心产品和业务，加大 销售力度，提高整车销售规模，请投资者注意投资风险。 相关风险提示： 1、公司股票于 2025 年 4 月 10 日、4 月 11 日、4 月 14 ...