Group 1 - ST Changyuan announced that the total external guarantees provided by the company and its subsidiaries amount to approximately 6.536 billion yuan, which represents 159.96% of the company's most recent audited net assets and 41.99% of the company's most recent audited total assets [1] - The balance of external guarantees provided by the company and its subsidiaries is approximately 3.637 billion yuan, accounting for 89.01% of the company's most recent audited net assets and 23.37% of the company's most recent audited total assets [1] - For the first half of 2025, ST Changyuan's revenue composition is as follows: industrial business accounts for 99.17%, while other businesses account for 0.83% [1] Group 2 - As of the report, ST Changyuan's market capitalization is 4.4 billion yuan [2]

证券代码：600525 证券简称：ST 长园 公告编号：2025091 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： 会议召开时间：2025 年 11 月 28 日 （星期五） 11:00-12:00 会 议 召 开 地 点 ： 上 海 证 券 交 易 所 上 证 路 演 中 心 （ 网 址 ： https://roadshow.sseinfo.com/） 长园科技集团股份有限公司 关于召开 2025 年第三季度业绩说明会的公告 会议召开方式：上证路演中心网络互动 投资者可于 2025 年 11 月 21 日（星期五）至 11 月 27 日（星期四）16:00 前登录上证路演中心网站首页点击"提问预征集"栏目或通过公司邮箱 zqb@cyg.com 进行提问。公司将在说明会上对投资者普遍关注的问题进行回答。 长园科技集团股份有限公司（以下简称"公司"）已于 2025 年 10 月 29 日发 布公司 2025 年第三季度报告，为便于广大投资者更全面深入地了解公司 2025 年第三季度经营成果、财务状况，公司计划 ...

证券代码：600525 证券简称：ST 长园 公告编号：2025088 长园科技集团股份有限公司 关于向银行申请授信并提供担保的公告 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： | 公司全资子公司长园深瑞继保自动 | 化有限公司、珠海市运泰利自动化设 | | | | | | | --- | --- | --- | --- | --- | --- | --- | | 备有限公司、长园电力技术有限公 | 被担保人名称 | 司、欧拓飞科技（珠海）有限公司以 | | | | | | 及公司控股子公司长园共创电力安 | 全技术股份有限公司 | | | | | | | 担 | 保 | 对 | 本次担保金额 | 115,000 | 万元 | 象 | | 实际为其提供的担保余额 | 311,151.31 | 万元 | | | | | | 是否在前期预计额度内 | □是 | □否 | √不适用：_________ | | | | | 本次担保是否有反担保 | □是 | √否 | □不适用：_________ | | | | ...

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： 证券代码：600525 证券简称：ST 长园 公告编号：2025089 长园科技集团股份有限公司 关于召开2025年第六次临时股东大会的通知 一、 召开会议的基本情况 (一) 股东大会类型和届次 2025年第六次临时股东大会 召开的日期时间：2025 年 11 月 13 日 14 点 00 分 召开地点：深圳市南山区长园新材料港 5 栋 3 楼 (五) 网络投票的系统、起止日期和投票时间。 网络投票系统：上海证券交易所股东大会网络投票系统 股东大会召开日期：2025年11月13日 本次股东大会采用的网络投票系统：上海证券交易所股东大会网络投票 系统 (二) 股东大会召集人：董事会 (三) 投票方式：本次股东大会所采用的表决方式是现场投票和网络投票相结 合的方式 (四) 现场会议召开的日期、时间和地点 网络投票起止时间：自2025 年 11 月 13 日 至2025 年 11 月 13 日 采用上海证券交易所网络投票系统，通过交易系统投票平台的投票时间为股 东大会召 ...

证券代码：600525 证券简称：ST长园 公告编号：2025090 长园科技集团股份有限公司 第九届监事会第四次会议决议公告 本公司监事会及全体监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。 长园科技集团股份有限公司（以下简称"公司"）第九届监事会第四次会议 于 2025 年 10 月 28 日以通讯方式召开，会议通知于 2025 年 10 月 23 日以电子邮 件发出。会议应参与表决监事 3 人，实际参与表决监事 3 人。本次会议的召集和 召开程序符合《公司法》及公司章程的规定。 监事会 二〇二五年十月二十九日 2、我们保证公司 2025 年第三季度报告所披露的信息真实、准确、完整，承 诺其中不存在虚假记载、误导性陈述或重大遗漏，并对其内容的真实性、准确性 和完整性承担法律责任； 3、公司 2025 年第三季度报告的编制和审议程序符合法律、法规、公司章程 和公司内部管理制度的各项规定； 4、截至本意见发表之时，未发现参与 2025 年第三季度报告编制和审议的人 员有违反保密规定的行为。 表决结果：同意 3 票，反对 0 票，弃权 0 票。 ...

Financial Performance - The company's operating revenue for Q3 2025 was ¥1,968,166,342.22, a decrease of 2.11% compared to ¥2,010,658,438.08 in the same period last year[4] - The total profit for the quarter increased significantly to ¥35,219,621.38, up 532.93% from ¥3,155,868.03 in the previous year[4] - The net profit attributable to shareholders was ¥16,023,941.74, compared to a loss of ¥12,268,159.87 in the same period last year[4] - The net profit for the first three quarters of 2025 was a loss of approximately ¥348.06 million, compared to a loss of ¥73.03 million in 2024, indicating a significant increase in losses[29] - The company reported an operating profit of approximately -¥303.35 million for the first three quarters of 2025, compared to -¥20.00 million in 2024[29] - Basic and diluted earnings per share for the first three quarters of 2025 were both -¥0.2486, compared to -¥0.0374 in 2024, reflecting a worsening financial position[30] - The net profit attributable to shareholders increased by 0.26 million CNY compared to the same period last year, mainly due to asset disposal gains of 34 million CNY from the sale of consumer electronics mobile phone refurbishment testing equipment business[14] - The net profit attributable to shareholders for the year-to-date period decreased by 279 million CNY, primarily due to an investment loss of 282 million CNY from the transfer of Changyuan Electronics equity[14] Cash Flow - The net cash flow from operating activities for the year-to-date was negative at -¥26,893,709.05, an improvement from -¥37,304,441.12 in the previous year[4] - The net cash flow from operating activities increased by 10 million CNY compared to the same period last year, driven by an increase in cash received from sales and a reduction in cash payments[14] - Cash flow from operating activities for the first three quarters of 2025 was approximately -¥26.89 million, an improvement from -¥37.23 million in 2024[34] - Cash inflow from operating activities totaled CNY 20,968,996,037.82, an increase from CNY 18,725,056,214.49 in the previous year[44] - Cash outflow from operating activities increased to CNY 21,332,168,550.73 from CNY 18,337,992,181.34 year-over-year[44] Assets and Liabilities - The total assets at the end of the reporting period were ¥14,832,635,620.51, reflecting a decrease of 4.70% from the previous year[5] - The company's total assets as of September 30, 2025, were RMB 14,832,635,620.51, down from RMB 15,563,958,111.16[26] - Total liabilities decreased to RMB 10,665,449,345.34 from RMB 11,049,975,558.76[25] - The total liabilities decreased to ¥6,245,944,419.92 as of September 30, 2025, from ¥6,463,089,561.39 at the end of 2024, representing a reduction of about 3.4%[39] - The company's total current assets as of September 30, 2025, were ¥2,859,072,925.60, an increase from ¥2,541,944,359.19 at the end of 2024, representing a growth of about 12.5%[37] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 31,636[16] - The largest shareholder, Zhuhai Gree Financial Investment Management Co., Ltd., holds 171,238,247 shares, accounting for 12.98% of the total shares[17] - The company plans to implement a share repurchase program starting March 7, 2024, with a target of repurchasing up to 23,630,081 shares by September 30, 2025, representing 1.79% of total shares[18] Investment and Asset Management - The company recognized an investment loss of ¥2.82 billion from the transfer of equity in Changyuan Electronics, contributing to an overall increase in losses year-to-date[12] - The company reported a significant asset disposal gain of ¥33,531,108.68 during the quarter[8] - The company plans to focus on its core business by selling assets related to the consumer electronics mobile phone refurbishment testing equipment for USD 4.8 million (approximately RMB 34.45 million)[21] - The company approved the transfer of 100% equity of its subsidiary, Shenyang Nengbo New Energy Co., Ltd., for a consideration of 200,000 CNY on July 21, 2025[19] - The company approved the transfer of 67% equity in CYG ENERGY TECH NIGERIA CO.LTD for RMB 1, with a registered capital of 67 million Naira (approximately RMB 327,000)[20] Research and Development - Research and development expenses for the first three quarters of 2025 were ¥2,443,181.23, compared to ¥1,581,290.30 in the same period of 2024, indicating an increase of approximately 54.5%[41] Other Financial Metrics - Non-recurring gains and losses for the current period amounted to ¥43,019,747.59, compared to -¥226,290,453.25 for the year-to-date[9] - The company incurred an asset impairment loss of approximately -¥40.01 million in the first three quarters of 2025, compared to -¥4.55 million in 2024, indicating increased financial strain[29] - The investment income for the first three quarters of 2025 was ¥514,880,520.45, a substantial increase from ¥7,172,449.90 in the first three quarters of 2024, reflecting a growth of approximately 7,086.5%[42] - Total comprehensive income for the first three quarters of 2025 was CNY 415,114,105.91, compared to a loss of CNY 137,094,017.51 in the same period of 2024[43]

证券代码：600525 证券简称：ST长园 公告编号：2025087 长园科技集团股份有限公司 第九届董事会第十三次会议决议公告 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。 公司及子公司长园深瑞继保自动化有限公司等拟向银行申请授信额度，并根 据银行要求提供担保。具体详见公司 2025 年 10 月 29 日在上海证券交易所网站 （www.sse.com.cn）披露的《关于向银行申请授信并提供担保的公告》（公告编 号：2025088）。 表决结果：9 票同意，0 票反对，0 票弃权。 本议案需提交股东大会审议。 三、审议通过了《关于召开 2025 年第六次临时股东大会的议案》 具体详见公司 2025 年 10 月 29 日在上海证券交易所网站（www.sse.com.cn） 披露的《关于召开 2025 年第六次临时股东大会的通知》（公告编号：2025089）。 表决结果：9 票同意，0 票反对，0 票弃权。 长园科技集团股份有限公司（以下简称"公司"）第九届董事会第十三次会 议于 2025 年 10 月 28 日以通讯方式召 ...

Core Insights - As of October 27, a total of 100 stocks in the Shanghai and Shenzhen markets have experienced net buying from major funds for five consecutive days or more [1] - The stock with the longest streak of net buying is Lao Feng Xiang, which has seen net buying for 11 consecutive trading days [1] - Other notable stocks with significant net buying days include Te Bao Biological, Dai Mei Co., ST Changyuan, Zhewen Hulin, Kai Chuang Electric, SAIC Motor, Hu Guang Co., and Zhong Bei Communication [1]

Group 1 - Dongfang Caifu announced that shareholders plan to transfer a total of 237.8 million shares at a price of 24.40 yuan per share, with 32 institutional investors participating in the bidding [1] - Laofengxiang's subsidiary plans to invest 24 million USD to acquire a 20% stake in Maybach Luxury Goods Asia Pacific, becoming the second-largest shareholder [1] - Saito Bio's subsidiary received a CEP certificate for Dexamethasone Sodium Phosphate, allowing it to sell in international markets [2] Group 2 - Jianglong Shipbuilding is expected to win a bid for a 600-ton fishery enforcement vessel project worth 72.99 million yuan, accounting for 4.22% of its audited revenue for 2024 [3] - Shikong Technology is planning to acquire control of Shenzhen Jiahe Jinwei Electronic Technology Co., Ltd., with stock trading suspended for up to 5 trading days [4] - Mould Technology's controlling shareholder plans to reduce its stake by up to 1% due to funding needs [5] Group 3 - Guokong Electronics expects a net profit increase of 64.72% to 80.17% for the first three quarters of 2025, with projected revenue of 340 million to 370 million yuan [7] - Beimo High-Tech anticipates a net profit increase of 50% to 60% for the same period, with a projected net profit of 125 million to 133 million yuan [8] - ST Haofeng's controlling shareholder has transferred 15.0046% of shares to Zhixin Network at a price of 6 yuan per share, totaling 331 million yuan [9] Group 4 - ST Changyuan's major shareholder plans to reduce its stake by up to 3% within 90 days due to risk management [11] - Runze Technology's shareholder plans to reduce its stake by up to 1% due to personal funding needs [12] - Limin Co. expects a net profit increase of 649.71% to 669.25% for the first three quarters of 2025, with a projected net profit of 384 million to 394 million yuan [14] Group 5 - Kanda New Materials received a government subsidy of 10.05 million yuan, accounting for 4.08% of its latest audited net profit [15] - Keheng Co.'s shareholder plans to reduce its stake by up to 1% due to personal funding needs [16] - New Hope reported a September sales revenue of 1.746 billion yuan from 1.3942 million pigs sold, with a year-on-year decline of 23.82% [18] Group 6 - Wan'an Technology plans to invest 150 million yuan to establish a joint venture in Wuhan for automotive chassis systems [19] - Wan'an Technology also intends to acquire a 40% stake in Fuao Wan'an for 26.22 million yuan, aiming for full ownership [19] - Kuai Ke Electronics' controlling shareholder plans to transfer 4% of the company's shares through an inquiry [20] Group 7 - Changan Automobile's joint venture Avita Technology has completed payment of 3.45 billion yuan for a 10% stake in Huawei's Yiwang [21]

Core Viewpoint - The recent announcement of major shareholder Gree Jin Investment's plan to reduce its stake in ST Changyuan has intensified scrutiny on the company, which is already embroiled in governance disputes and facing significant operational challenges [1][4]. Shareholder Dynamics - Gree Jin Investment and its concerted parties hold a combined 14.38% stake in ST Changyuan, making them the largest shareholder, while the second-largest shareholder, former chairman Wu Qiquan, holds 8.02% [4]. - The potential for Wu Qiquan and Shandong Zhibo to unite their shares could lead to a combined holding of 15.86%, surpassing Gree Jin Investment [4]. Governance Issues - ST Changyuan has been operating without a controlling shareholder, leading to significant management issues and a lack of consensus on major decisions [5]. - Gree Jin Investment has made multiple attempts to push for governance reforms, but their efforts have repeatedly failed in board votes, highlighting the ongoing governance chaos [5][7]. Board Elections and Management Control - Wu Qiquan's resignation as chairman was followed by his proposal to appoint a closely associated individual, Qiao Wenjian, as the new chairman, which was approved despite Gree Jin Investment's opposition [6][7]. - The election of Qiao Wenjian and the appointment of Qiang Wei as president further solidified the existing management's control, indicating a deepening governance stalemate [7]. Internal Control and Financial Issues - The sudden resignation of Wu Qiquan is speculated to be linked to potential conflicts of interest regarding a proposed related-party transaction [8]. - ST Changyuan's internal control issues have been highlighted by past financial misconduct, including significant fund misappropriation and inflated revenue reporting [10][12]. - The company has faced multiple lawsuits related to securities fraud, with substantial financial implications, including a recent judgment requiring compensation of 3.45 billion yuan [16]. Financial Performance - ST Changyuan's financial performance has deteriorated, with a reported revenue of 3.47 billion yuan in the first half of 2025, a 0.9% decline year-on-year, and a net loss of 344 million yuan, worsening from a loss of 46.99 million yuan in the previous year [18]. - The company's stock price has plummeted from a peak of 28.47 yuan per share to approximately 3.48 yuan, reflecting its troubled status and increasing risk of delisting [18].