Core Viewpoint - ST Guangwu (600603.SH) has announced its intention to apply for the removal of other risk warnings on its stock, believing it meets the necessary conditions as per the Shanghai Stock Exchange regulations [1] Summary by Relevant Sections - **Company Decision**: The company's 11th Board of Directors held its 7th meeting in 2025, where it approved the application to the Shanghai Stock Exchange for the removal of other risk warnings on its stock [1]

Core Viewpoint - ST Guangwu (600603.SH) has conducted a self-examination in accordance with the Shanghai Stock Exchange's regulations and confirmed that it does not meet any conditions for additional risk warnings, thus planning to apply for the removal of such warnings [1] Summary by Sections - Compliance with Regulations - The company has performed a detailed self-check against the revised regulations of the Shanghai Stock Exchange as of April 2025 [1] - It has confirmed that there are no conditions that would trigger additional risk warnings from the exchange [1] - Application for Removal of Risk Warnings - The company intends to apply to the Shanghai Stock Exchange for the removal of the additional risk warnings on its stock [1]

Core Viewpoint - ST Guangwu (600603.SH) has conducted a self-inspection in accordance with the relevant provisions of the Shanghai Stock Exchange's listing rules and confirmed that it does not meet any conditions for additional risk warnings [1] Group 1 - The company plans to apply to the Shanghai Stock Exchange for the removal of the additional risk warning on its stock [1] - As of the announcement date, the company meets the conditions outlined in Article 9.8.8 regarding the application for the removal of additional risk warnings [1]

证券代码：600603 证券简称：ST 广物 公告编号：2025-073 广汇物流股份有限公司 关于申请撤销公司股票其他风险警示的公告 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法律责任。 重要内容提示： 广汇物流股份有限公司（以下简称"公司"）股票撤销其他风险 警示尚需上海证券交易所审核，能否获得批准尚存在不确定性，敬请 广大投资者注意投资风险。 公司于 2025 年 10 月 13 日召开第十一届董事会 2025 年第七次会 议，审议通过了《关于申请撤销公司股票其他风险警示的议案》，现 就公司股票申请撤销其他风险警示相关事项公告如下： 一、公司股票被实施其他风险警示的情况 根据《上海证券交易所股票上市规则（2024 年 4 月修订）》的 规定,公司因收到中国证监会下发的《行政处罚事先告知书》（处罚 字〔2024〕121 号），股票自 2024 年 9 月 3 日起实施其他风险警示。 详见公司于上海证券交易所网站 www.sse.com.cn 披露的《广汇物流 股份有限公司关于收到中国证券监督管理委员会<行政处罚事先告知 书>的公 ...

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： | 回购方案首次披露日 | 2024/7/16 | | --- | --- | | 回购方案实施期限 | 2024/7/31~2026/4/30 | | 预计回购金额 | 20,000万元~40,000万元 | | 回购用途 | √减少注册资本 □用于员工持股计划或股权激励 | | | □用于转换公司可转债 | | | □为维护公司价值及股东权益 | | 累计已回购股数 | 1,477.04 万股 | | 累计已回购股数占总股本比例 | 1.24% | | 累计已回购金额 | 8,498.54 万元 | | 实际回购价格区间 | 4.62 元/股~10.96 元/股 | 证券代码：600603 证券简称：ST 广物 公告编号：2025-072 广汇物流股份有限公司 关于以集中竞价交易方式回购股份的进展公告 2 一、回购股份的基本情况 广汇物流股份有限公司（以下简称"公司"）基于对公司未来发 展前景的信心以及对公司价值的高度认可，立足公司长期可持续发展 和价值增长， ...

Core Points - The ongoing investor compensation cases against Guanghui Logistics (600603) and Gome Communication (600898) due to false statements are being actively pursued [1][2] - Guanghui Logistics has been found to have inflated its revenue, costs, and profits through fraudulent practices, significantly affecting its financial reports for 2022 and the first half of 2023 [1] - Gome Communication has also been implicated in false reporting, with its 2020 annual report showing inflated revenue and costs, as well as fraudulent stock issuance [3][4] Guanghui Logistics (600603) - Guanghui Logistics has received an administrative penalty from the China Securities Regulatory Commission (CSRC) for falsifying delivery documents to prematurely recognize real estate revenue [1] - The company inflated its 2022 revenue by approximately 2.89 billion yuan, which accounted for 57.65% of the reported revenue, and inflated its profit by about 622 million yuan, representing 78.52% of the reported profit [1] - For the first half of 2023, the company inflated its revenue by approximately 265 million yuan, which was 19.23% of the reported revenue, and inflated its profit by about 55 million yuan, accounting for 15.98% of the reported profit [1] Gome Communication (600898) - Gome Communication has been found to have false entries in its 2020 annual report, inflating revenue by approximately 57.82 million yuan and costs by about 57.46 million yuan, which represented 61.53% and 62.18% of the respective totals [3] - The company’s 2020 non-public stock issuance has been classified as fraudulent [3] - The 2021 annual report also contained false entries, with a net profit overstatement of approximately 1.96 million yuan, which was 38.35% of the reported net profit [3][4]

证券代码：600603 证券简称：ST 广物 公告编号：2025-071 一、公司控股股东股份质押情况 公司于 2025 年 9 月 16 日接到广汇集团通知，广汇集团将其持有 的本公司部分股份办理了质押手续，具体情况如下： | | 是否 | | 是否 | 是否 | | | | | | | | | 占其所 | 占公司 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 股东名称 | 为控 | 本次质押股 | 为限 | 补充 | | 质押起始日 | | | 质押到期日 | | | 质权人 | 持股份 | 总股本 | 质押融资 | | | 股股 | 数（股） | 售股 | 质押 | | | | | | | | | 比例 | 比例 | 资金用途 | | | 东 | | | | | | | | | | | | （%） | （%） | | | 广汇集团 | 是 | 3,500,000 | 否 | 否 | 2025 | 年 9 | 月 | 2026 | 年 | 9 月 ...

Core Insights - ST Guangwu has reported significant growth in coal transportation via the Hongnao Railway, with July and August volumes reaching 240 million tons and 255 million tons respectively, marking year-on-year increases of approximately 25% and 58% [1][2] - The company aims to leverage Xinjiang's natural resource advantages and the strategic importance of coal transportation, contributing to the national "Jiang Coal Export" strategy [1][2] Company Performance - In the first half of 2025, ST Guangwu's cumulative transportation volume via the Hongnao Railway reached 13.49 million tons, a year-on-year increase of 38.96%, accounting for about 30% of the total railway dispatch volume for "Jiang Coal Export" [1] - The company has set a target to achieve coal transportation volumes exceeding 30 million tons by 2025, supported by ongoing infrastructure developments [2] Industry Context - Xinjiang's coal reserves account for approximately 40% of the national total, making it a critical energy supply region in China [1] - The coal production in Xinjiang reached 279 million tons in the first half of 2025, with a year-on-year growth rate of 12.4%, surpassing the national growth rate of 5.4% [1] - The overall coal export volume from Xinjiang has been increasing, with a target of 100 million tons for the year, following a record of 90.61 million tons in the previous year, which was a 50.2% increase [2]

Group 1 - ST Guangwu reported a revenue of 1.421 billion yuan and a net profit of 260 million yuan for the first half of 2025, with a significant increase in coal transportation volume by 38.96% [1] - The company has been focusing on energy logistics, leveraging its strategic location in Xinjiang as part of the Silk Road Economic Belt, and has developed a "one channel, four bases" growth model [1][2] - Despite challenges in the coal market, the company managed to reduce sales and management expenses by 48.93% and 49.62% respectively, showcasing strong cost control [1] Group 2 - Recent infrastructure developments have enhanced the transportation capacity of the Hongnao Railway, transitioning from a single channel to a dual-channel system, which shortens transport time and expands market reach [2] - The company is actively developing four comprehensive energy logistics bases, with the Liugou base having an annual turnover capacity of approximately 20 million tons, improving supply capabilities and price competitiveness [2] - Xinjiang's coal production reached 279 million tons in the first half of 2025, with a 12.4% year-on-year increase, indicating the region's growing importance in the national energy supply system [2] Group 3 - As the energy logistics system matures and the western railway network improves, ST Guangwu's advantages in capacity release, network layout, and cost control are expected to translate into profitability [3] - The company is poised to unlock new growth opportunities and strengthen its strategic position in the energy logistics landscape of the Belt and Road Initiative [3]

Meeting Overview - The company held a half-year performance briefing on September 1, 2025, to discuss its operational results, financial status, and development strategy with investors [1] - Key executives, including the chairman and general manager, participated in the meeting [1] Performance Highlights - As of June 30, 2025, the cumulative transport volume of the Hongnao Railway reached 13.49 million tons, a year-on-year increase of 38.96%, accounting for approximately 30% of the total railway dispatch volume for "Xinjiang coal export" [1][6][9] Strategic Initiatives - The company is actively supporting the "Xinjiang coal export" strategy by enhancing logistics efficiency and expanding its service network [2] - Plans are in place to upgrade the transport capacity of the Hongnao Railway to meet external transport demands from the Nao Maohu and Zhundi regions [2] - The company is integrating road and rail transport resources to create a comprehensive logistics service matrix, aiming to reduce overall logistics costs [2] Future Development Plans - The company is focused on the construction of four comprehensive logistics bases to enhance energy logistics response efficiency and expand market share [2][5] - The company is also working on the development of railway dedicated lines and coal storage facilities to ensure smooth project implementation [3] Market Adaptation Strategies - In response to declining coal prices, the company has implemented temporary freight discounts to support market expansion for energy resource enterprises [3][7] - The company plans to dynamically adjust its pricing strategies based on market supply and demand changes [3][10] Share Buyback Program - As of July 31, 2025, the company has repurchased 14,770,400 shares, representing 1.24% of its total share capital [7] - The share buyback period has been extended to April 30, 2026, to better align with market conditions and ensure effective execution of the buyback plan [7] Operational Efficiency - The company is enhancing its operational capabilities by improving the efficiency of coal transportation and container return processes [6][7] - The current utilization rate of the Hongnao Railway is approximately 40%, with ongoing efforts to increase transport capacity through infrastructure upgrades [9] Long-term Vision - The company aims to become a leading energy logistics service provider along the "Belt and Road" initiative by leveraging its strategic location and resources [5][11] - Continuous improvement in operational management and efficiency is a priority to ensure stable growth in performance [5][11]