股票代码：600381 股票简称：*ST 春天 公告编号：2025-049 青海春天药用资源科技股份有限公司 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。 重要内容提示： 青海春天药用资源科技股份有限公司（以下简称"公司"）股票交易在 2025 年 10 月 24 日、10 月 27 日、10 月 28 日连续 3 个交易日内日收盘价格跌幅偏离值累计达 到 12%，属于股票交易异常波动。 经公司自查及向公司控股股东、实际控制人发函核实、确认，截至本公告披露 日，除公司已披露事项外，不存在其它应披露而未披露的重大事项。 公司控股股东质押比例较高。公司控股股东西藏荣恩科技有限公司累计质押 11,362 万股，占其持股总数的 60.24%，占公司总股本的 19.35%。控股股东及其一致行 动人合计质押 14,376 万股，占其持股总数的 58.59%，占公司总股本的 24.49%。 公司股票已被实施退市风险警示。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 ...

Market Overview - The Shanghai Composite Index increased by 0.92% today, with a trading volume of 1,118.09 million shares and a transaction value of 19,287.88 billion yuan, representing a 22.50% increase compared to the previous trading day [1] Industry Performance - The top-performing sectors included Electronics (up 2.48%), Comprehensive (up 2.42%), and Steel (up 2.20%) [1] - The sectors with the largest declines were Media (down 1.07%), Food & Beverage (down 0.32%), and Real Estate (down 0.23%) [2] Leading Stocks - In the Electronics sector, Jingrui Electric Materials led with a gain of 15.77% [1] - In the Comprehensive sector, Zhangzhou Development rose by 9.95% [1] - In the Steel sector, Changbao Co. also increased by 9.95% [1] Detailed Industry Data - Electronics: 4,176.85 billion yuan in transaction value, up 21.86% from the previous day [1] - Comprehensive: 42.33 billion yuan in transaction value, up 20.03% from the previous day [1] - Steel: 144.44 billion yuan in transaction value, up 39.07% from the previous day [1] - Media: 367.83 billion yuan in transaction value, down 1.07% [2] - Food & Beverage: 206.19 billion yuan in transaction value, down 0.32% [2] - Real Estate: 217.64 billion yuan in transaction value, down 0.23% [2]

Group 1: Qingdao Beer Acquisition Termination - Qingdao Beer announced the termination of its acquisition of a 100% stake in Jimo Huangjiu due to unmet conditions in the share transfer agreement [2][4] - The acquisition was initially valued at 665 million yuan and was part of a trend where the capital market showed interest in Huangjiu [4] - The company stated it would not bear any liability for the termination of the share transfer agreement [4] Group 2: Leadership Changes in Major Alcohol Companies - Moutai Group appointed Chen Hua, the former director of the Guizhou Provincial Energy Bureau, as the new chairman, replacing Zhang Deqin after only a year and a half [10] - Xi Feng Wine announced the promotion of Zhang Yong to general manager of its marketing company, replacing Zhou Yanhua, who retired at the age of 55 [11] - Huichuan Beer appointed Yi Wenxin as the new general manager following the resignation of Liu Xiangyu and Chen Jiting [12][13] Group 3: Financial Performance of Alcohol Companies - Jin Hui Wine reported a revenue of 2.305 billion yuan and a net profit of 324 million yuan for the first three quarters, with a significant decline in Q3 net profit by 33% [15][16] - Yanjing Beer and Zhujiang Beer both reported slower growth in Q3, with Yanjing's revenue at 4.875 billion yuan, a 1.55% increase, and Zhujiang's revenue at 1.875 billion yuan, a 1.34% decline [17] - Heineken's Q3 net revenue decreased by 0.3%, with a 4.3% decline in organic sales volume, leading to a downward revision of its annual sales forecast [19][20] Group 4: Market Trends and Consumer Behavior - The National Bureau of Statistics reported a 1.6% year-on-year growth in the tobacco and alcohol sector for September, with a 4% increase for the first nine months of 2025 [23]

Core Points - *ST Chuntian's stock hit the daily limit down at 5.04 yuan, with a decline of 4.91%, resulting in a total market capitalization of 2.959 billion yuan and a trading volume of 10.716 million yuan [1] Group 1: Financial Performance - The company remains in a loss position, with a net profit attributable to shareholders of -2.8317 million yuan, despite a year-on-year increase of 96.87% in the third quarter report [2] - The basic earnings per share is -0.01 yuan, indicating that the company has not yet escaped its loss situation, which may be a significant factor contributing to the stock's limit down [2] Group 2: Market Sentiment and Volatility - The recent addition of the "previous day's limit up" concept reflects short-term market sentiment rather than a substantial impact on the company's fundamentals, leading to potential stock price corrections as market sentiment fades [2] - The overall market volatility may have influenced *ST Chuntian's stock price, as significant capital outflows were observed on the limit down day, putting pressure on the stock price [2] - Technical indicators such as MACD death cross and BOLL channel breakdown may have accelerated the stock's decline [2]

Market Overview - On October 23, the food processing sector rose by 0.05% compared to the previous trading day, with *ST Chuntian leading the gains [1] - The Shanghai Composite Index closed at 3922.41, up 0.22%, while the Shenzhen Component Index closed at 13025.45, also up 0.22% [1] Stock Performance - The following stocks in the food processing sector showed notable performance: - *ST Chuntian (600381) closed at 5.58, up 2.39% with a trading volume of 146,300 shares and a turnover of 80.837 million yuan [1] - Huifa Food (603536) closed at 11.14, up 1.74% with a trading volume of 104,700 shares and a turnover of 116 million yuan [1] - Kemei Food (002661) closed at 9.68, up 1.36% with a trading volume of 33,000 shares and a turnover of 31.6787 million yuan [1] - Other notable stocks include Jiyuan Group (603262), Weizhi Xiang (605089), and Xiwang Food (000639) with respective gains [1] Capital Flow - The food processing sector experienced a net outflow of 98.805 million yuan from institutional investors, while retail investors saw a net inflow of 105 million yuan [2] - The following stocks had significant capital flow: - Xiwang Food (000639) had a net inflow of 19.6873 million yuan from institutional investors, but a net outflow from retail investors [3] - Jiyuan Group (603262) also saw a net inflow from institutional investors, while retail investors had a slight outflow [3] - Other stocks like Jinzi Ham (002515) and Sanyuan Food (002216) showed mixed capital flows [3]

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。 青海春天药用资源科技股份有限公司（以下简称"公司"）股价剔除大盘整体因素 后的实际波动幅度较大，公司特别提醒广大投资者注意二级市场交易风险，相关提示 如下： 股票代码：600381 股票简称：*ST 春天 公告编号：2025-048 青海春天药用资源科技股份有限公司 关于股票交易风险提示的公告 二、生产经营风险 公司于 2025 年 10 月 21 日披露了《2025 年第三季度报告》，2025 年第三季度营业 收入为 21,253.03 万元、利润总额为 374.34 万元、归属于上市公司股东的净利润为 -283.17 万元、归属于上市公司股东扣除非经常性损益后的净利润为-589.04 万元。公 司业绩连续亏损，目前，生产经营情况正常，不存在影响公司股票交易价格大幅波动 的重大事项，敬请广大投资者注意投资风险。 三、控股股东质押风险 公司控股股东西藏荣恩科技有限公司累计质押 11,362 万股，占其持股总数的 60.24%，占公司总股本的 19.35%。控股股东及其一致行动人合 ...

Core Insights - The food processing sector experienced a slight increase of 0.04% on October 22, with *ST Chuntian leading the gains [1] - The Shanghai Composite Index closed at 3913.76, down 0.07%, while the Shenzhen Component Index closed at 12996.61, down 0.62% [1] Stock Performance - *ST Chuntian (600381) closed at 5.45, up 5.01% with a trading volume of 97,100 shares and a turnover of 52.64 million yuan [1] - Other notable gainers included Jinzi Ham (002515) up 1.91%, Xiwang Food (000639) up 1.27%, and Delisi (002330) up 1.23% [1] - Conversely, Baba Food (605338) saw a decline of 2.72%, while Jiaoda Onl (600530) fell by 2.41% [2] Capital Flow - The food processing sector saw a net outflow of 87.36 million yuan from institutional investors, while retail investors contributed a net inflow of 124 million yuan [2] - The main stocks with significant capital flow included *ST Chuntian, which had a net inflow of 14.16 million yuan from institutional investors [3] - Other stocks like Guangming Meat (600073) and Jindawei (002626) also experienced varying degrees of net inflow and outflow from different investor categories [3]

Core Insights - *ST Chuntian reported a total operating revenue of 213 million yuan as of September 30, 2025 [1] - The company recorded a net profit attributable to shareholders of -2.83 million yuan as of September 30, 2025 [1] - Operating cash flow showed a net outflow of 68.92 million yuan, a decrease of 88.37 million yuan compared to the same period last year, representing a year-on-year decline of 454.20% [1] Financial Ratios - The latest debt-to-asset ratio for *ST Chuntian is 4.20% as of September 30, 2025 [3] - The gross profit margin is 47.52%, which is a decrease of 13.89 percentage points from the previous quarter [4] - The return on equity (ROE) stands at -0.28% as of September 30, 2025 [4] - The diluted earnings per share (EPS) is -0.01 yuan [4] - The total asset turnover ratio is 0.19 times [4] - The inventory turnover ratio is 0.68 times [4] Shareholder Information - The number of shareholders is 26,500, with the top ten shareholders holding a total of 295 million shares, accounting for 50.24% of the total share capital [4] - The largest shareholder is Tibet Rong'en Technology Co., Ltd., holding 32.1% of the shares [4]

Core Viewpoint - The company, Qinghai Spring Medicine Resources Technology Co., Ltd., has announced the continuation of its accounting firm for the 2025 fiscal year and the cancellation of its supervisory board, with the audit committee taking over its responsibilities [9][71]. Financial Data - The company reported a total operating income of 212.53 million yuan and a net profit attributable to shareholders of -28.32 million yuan for the first three quarters of 2025 [45][46]. - The company has experienced continuous losses, with a net profit after deducting non-recurring gains and losses of -58.90 million yuan [45][46]. Shareholder Information - The company plans to hold its second extraordinary general meeting of 2025 on November 5, 2025, to discuss various proposals, including the appointment of the accounting firm and the cancellation of the supervisory board [58][59]. Audit Firm Appointment - The company has proposed to reappoint Zhengdan Zhiyuan (Shenzhen) Accounting Firm for the 2025 financial audit and internal control audit, with fees set at 800,000 yuan for the financial audit and 300,000 yuan for the internal control audit, totaling 1.1 million yuan, which is the same as the previous year [9][16][28]. Corporate Governance Changes - The company has decided to abolish its supervisory board, transferring its responsibilities to the audit committee, in line with updated regulations and to enhance corporate governance [71][72].

Core Viewpoint - *ST Chuntian (600381.SH) reported a revenue of 213 million yuan for the first three quarters of 2025, reflecting a year-on-year growth of 7.32% [1] Financial Performance - The net loss attributable to shareholders of the listed company was 2.8317 million yuan [1] - The net loss attributable to shareholders, excluding non-recurring gains and losses, was 5.8904 million yuan [1] - The basic loss per share was 0.005 yuan [1]