近期事件 2026年2月13日，市场关注ST通葡股价异动，搜狐分析指出当日该股跌幅0.32%，成交额偏 低，技术面提及支撑位及资金流向情况。近期无其他重大公司公告或事件影响股价。 经济观察网 ST通葡在近7天（2026年2月9日至13日）股价呈现震荡下行趋势，区间涨跌幅为-2.23%。最 新交易日（2026年2月13日）收盘价为3.07元，单日跌幅0.32%，成交额约817万元，换手率0.62%。技术 面显示，股价当前靠近布林带下轨支撑位约2.98元，MACD指标呈弱反弹迹象，但整体表现弱于大盘指 数。 以上内容基于公开资料整理，不构成投资建议。 ...

Market Overview - The internet e-commerce sector increased by 2.17% on February 3, with Huakai Yibai leading the gains [1] - The Shanghai Composite Index closed at 4067.74, up 1.29%, while the Shenzhen Component Index closed at 14127.1, up 2.19% [1] Stock Performance - Huakai Yibai (300592) closed at 14.59, up 5.80% with a trading volume of 241,700 shares [1] - Kuaijingtong (002640) closed at 4.08, up 4.35% with a trading volume of 996,800 shares [1] - Yiwang Yichuang (300792) closed at 46.00, up 3.58% with a trading volume of 233,400 shares [1] - Other notable stocks include Saiwei Times (301381) at 23.16, up 3.49%, and Jihong Co. (002803) at 20.00, up 3.47% [1] Capital Flow - The internet e-commerce sector saw a net inflow of 76.06 million yuan from main funds, while retail funds experienced a net outflow of 23.19 million yuan [2] - Major stocks with significant capital inflow include Kuaijingtong with 43.10 million yuan and San Tai Co. (301558) with 31.94 million yuan [3] - Huakai Yibai had a net inflow of 21.57 million yuan, while Ji Hong Co. experienced a net inflow of 16.39 million yuan [3]

证券代码：600365 证券简称：ST 通葡 公告编号：临 2026-002 通化葡萄酒股份有限公司 关于股票被实施其他风险警示相关事项的进展公告 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： 2022 年 10 月 13 日、2022 年 11 月 12 日，公司分别披露了《通化葡萄酒股 份有限公司涉及仲裁公告》（公告编号：临 2022-045）、《通化葡萄酒股份有 限公司关于大连仲裁事项进展公告》（公告编号：临 2022-049），公司发现原 实际控制人存在以前年度违规使用公司印鉴在大连鼎华国际贸易有限公司（以下 简称"大连鼎华"）所述的借款相关协议上盖章，大连鼎华向大连仲裁委提出对 公司仲裁，涉及金额为 3.063 亿元。 2023 年 5 月 16 日，公司收到了大连仲裁委员会（2021）大仲字第 519 号《裁 决书》，仲裁庭认为公司对大连鼎华的此项担保无效，但公司存在一定过错，需 要在大连嘉得商贸有限公司（以下简称"大连嘉得"）不能清偿"本金、利息及 律师费"的 20%范围内向大连鼎华承担赔偿责任 ...

Financial Performance Expectations - The company expects a net profit attributable to shareholders of the parent company for 2025 to be between -56.4 million and -84.6 million yuan, indicating a loss [3]. - The net profit attributable to shareholders after deducting non-recurring gains and losses is expected to be between -49.4 million and -74.1 million yuan [3]. - In the same period last year, the company reported a net profit attributable to shareholders of -49.88 million yuan and a total profit of -42.88 million yuan [5]. - The previous year's earnings per share were -0.12 yuan [5]. Business Challenges - The company faced challenges in its e-commerce business, leading to a decline in gross profit and contributing to the expected losses for 2025 [7]. - The company aims to overcome adverse impacts and actively pursue business development despite the complex environment in 2025 [7]. Earnings Forecast Details - The earnings forecast has not been audited by a registered accountant, and the final financial data will be disclosed in the audited annual report [9]. - The company emphasizes that there are no significant uncertainties affecting the accuracy of this earnings forecast [8]. - The earnings forecast period is from January 1, 2025, to December 31, 2025 [4]. Investment Risks - Investors are advised to pay attention to investment risks as the forecast data is preliminary [9].

Core Viewpoint - ST Tongpu is expected to report a net loss attributable to shareholders of the parent company ranging from -56.4 million to -84.6 million yuan for the year 2025, indicating a challenging financial outlook for the company [1] Group 1: Financial Performance - The company anticipates a significant loss for 2025 due to adverse market conditions affecting its operations [1] - The e-commerce segment has experienced a revenue adjustment, leading to a decline in gross profit for this business unit [1] Group 2: Strategic Response - In response to the complex environment, the company is focusing on its development strategy and annual goals while actively working to mitigate negative impacts [1]

Core Viewpoint - The internet e-commerce sector experienced a slight increase of 0.47% on January 29, with 壹网壹创 leading the gains, while the overall market showed mixed results with the Shanghai Composite Index rising by 0.16% and the Shenzhen Component Index declining by 0.3% [1]. Group 1: Market Performance - The internet e-commerce sector's performance was highlighted by 壹网壹创, which closed at 42.68 with a rise of 5.88% and a trading volume of 310,300 shares [1]. - Other notable performers included ST通葡, which increased by 2.33% to close at 3.07, and 凯淳股份, which rose by 1.65% to 36.39 [1]. - The overall trading volume for the internet e-commerce sector was significant, with individual stocks like 华凯易佰 and 焦点科技 achieving trading volumes of 327,100 and 141,200 shares respectively [1]. Group 2: Capital Flow - The net inflow of main funds into the internet e-commerce sector was 134 million yuan, while retail funds saw a net inflow of 989,400 yuan [2]. - Conversely, speculative funds experienced a net outflow of 135 million yuan, indicating a shift in investment strategies among different types of investors [2]. - The capital flow data showed that 壹网壹创 had a main fund net inflow of 125 million yuan, despite a net outflow from speculative and retail investors [3]. Group 3: Individual Stock Analysis - 壹网壹创 led the sector with a main fund net inflow of 125 million yuan, representing 9.24% of its trading volume [3]. - 焦点科技 and 青木科技 also saw significant main fund inflows of 45.09 million yuan and 26.03 million yuan respectively, indicating strong investor interest [3]. - In contrast, ST通葡 experienced a negative main fund flow of 1.20 million yuan, reflecting weaker investor confidence [3].

Core Insights - The Chinese wine industry is projected to see a production increase of 6.7% year-on-year by December 2025, reaching a total production of 16,000 kiloliters [1] - However, the cumulative production for the year 2025 is expected to decline by 17.1%, totaling 97,000 kiloliters [1] Company Insights - Listed companies in the Chinese wine sector include Zhangyu A (000869), Weilang Co., Ltd. (603779), Zhongpu Co., Ltd. (600084), ST Tongpu (600365), Xibu Chuangye (000557), and Huangtai Wine Industry (000995) [1] - The report by Zhiyan Consulting highlights the investment potential in the Chinese wine market from 2026 to 2032 [1]

Market Overview - The internet e-commerce sector experienced a decline of 1.46% on January 13, with Qingmu Technology leading the drop [1] - The Shanghai Composite Index closed at 4138.76, down 0.64%, while the Shenzhen Component Index closed at 14169.4, down 1.37% [1] Stock Performance - Notable stock performances included: - Saiwei Times (301381) closed at 22.94, up 0.88% with a trading volume of 114,200 shares and a transaction value of 265 million [1] - ST Yigou (002024) closed at 1.66, up 0.61% with a trading volume of 350,700 shares and a transaction value of 57.89 million [1] - Qingmu Technology (301110) closed at 93.10, down 5.97% with a trading volume of 126,800 shares and a transaction value of 1.239 billion [2] Capital Flow - The internet e-commerce sector saw a net outflow of 506 million from main funds, while retail investors contributed a net inflow of 508 million [2] - Detailed capital flow for selected stocks showed: - Liren Lizhuang (605136) had a main fund net inflow of 14.37 million, while retail investors had a net inflow of 1.06 million [3] - ST Yigou (002024) had a main fund net inflow of 7.48 million, but a significant retail outflow of 1.40 million [3]

Core Viewpoint - The Chinese wine industry is experiencing a significant decline in production, with a reported cumulative decrease of 20.6% in wine output from January to November 2025 compared to the previous year [1]. Group 1: Industry Overview - The total wine production in China for November 2025 is reported to be 10,000 kiloliters [1]. - The cumulative wine production from January to November 2025 stands at 81,000 kiloliters [1]. Group 2: Related Companies - Listed companies in the Chinese wine sector include Zhangyu A (000869), Weilang Co., Ltd. (603779), Zhongpu Co., Ltd. (600084), ST Tongpu (600365), Xibu Chuangye (000557), and Huangtai Wine Industry (000995) [1]. Group 3: Market Research - The report titled "2026-2032 China Wine Industry Market Panorama Survey and Investment Potential Research Report" by Zhiyan Consulting provides insights into the market trends and investment opportunities within the wine industry [1].

Group 1 - The company, Tonghua Grape Wine Co., Ltd., has launched a stock incentive plan for 2025, involving the issuance of 26.75 million restricted stocks, accounting for 6.26% of the total share capital [2][3] - The initial grant of the incentive plan was adjusted from 24.15 million shares to 24 million shares due to one participant voluntarily giving up their rights, while the reserved grant increased from 2.6 million shares to 2.75 million shares [3] - The first grant registration for the incentive plan was completed on September 18, 2025, and the reserved grant of 275,000 shares will be issued at a price of 2.82 yuan per share on October 30, 2025 [4][5] Group 2 - The incentive plan has a maximum validity period of 60 months, with a lock-up period of 12 to 24 months for the reserved shares [7][8] - The funds raised from the stock incentive plan will be used to supplement the company's working capital [11] - The stock incentive plan will not change the control of the company's major shareholder, although it may dilute their shareholding percentage [10]