Core Viewpoint - Baichuan Energy has received an administrative regulatory measure from the Hubei Securities Regulatory Bureau due to violations related to undisclosed related party transactions involving its chairman Wang Donghai [1][2]. Group 1: Regulatory Measures - The Hubei Securities Regulatory Bureau issued a warning letter to Baichuan Energy and Wang Donghai for failing to disclose related party relationships and transactions, specifically regarding the acquisition of Zhuolu Dadi Gas Co., Ltd. and Suizhong Dadi Natural Gas Pipeline Co., Ltd. for 220 million yuan in October 2019 [1][2]. - The company is required to learn from this incident and enhance its compliance with securities laws and regulations to prevent similar occurrences in the future [2][3]. Group 2: Company Response - Baichuan Energy acknowledges the issues raised in the warning letter and commits to improving its identification of related parties and management of related transactions, as well as enhancing its information disclosure practices [3]. - The administrative measures will not affect the company's normal operations, and it will continue to fulfill its disclosure obligations in accordance with relevant laws and regulations [3]. Group 3: Board Meeting - The 12th Board of Directors of Baichuan Energy held its fifth meeting on November 13, 2025, where all seven directors attended, and the meeting complied with legal and regulatory requirements [7]. - The board approved a resolution to recognize the related party transactions that occurred in October 2019, ensuring compliance with relevant regulations [8][9]. - The resolution was passed with four votes in favor, no opposition, and three abstentions from related directors [11].

Group 1 - Baichuan Energy held its 12th fifth board meeting on November 13, 2025, where it reviewed the proposal for recognizing related party transactions [1] - For the year 2024, Baichuan Energy's revenue composition is as follows: 96.72% from the gas industry and 3.28% from other businesses [1] - The current market capitalization of Baichuan Energy is 7.3 billion yuan [2]

证券代码：600681 证券简称：百川能源 公告编号：2025-047 经查，百川能源股份有限公司（以下简称百川能源或公司）、公司董事长王 东海，存在以下违规事实： 百川能源股份有限公司 关于收到湖北证监局行政监管措施决定书 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。 百川能源股份有限公司（以下简称"公司"）及相关人员于 2025 年 11 月 13 日收到中国证券监督管理委员会湖北监管局（以下简称"湖北证监局"）出具的 《关于对百川能源股份有限公司、王东海采取出具警示函措施的决定》（〔2025〕 65 号）（以下简称"决定书"），现将相关内容公告如下： 一、决定书主要内容 百川能源股份有限公司、王东海： 王东海从 2019 年 9 月起可以控制涿鹿大地燃气有限公司（以下简称涿鹿大 地）和绥中大地天然气管道有限公司（以下简称绥中管道），但未向百川能源报 送关联人名单和关联关系说明，致使百川能源在 2019 年 10 月以 2.20 亿元收购 涿鹿大地、绥中管道的交易中未履行关联交易的审议程序和披露义务，该行为违 反 ...

证券代码:600681 证券简称:百川能源 公告编号:2025-046 百川能源股份有限公司 第十二届董事会第五次会议决议公告 关联董事王东海先生、韩啸先生、马福有先生对本议案回避表决。 审议情况：4 票赞成 0 票反对 0 票弃权 3 票回避 表决通过 特此公告。 1、 审议通过《关于追认关联交易的议案》 公司于 2019 年 10 月 15 日召开第十届董事会第四次会议审议通过《关于收 购涿鹿大地燃气有限公司及绥中大地天然气管道有限公司 100%股权的议案》，公 司全资子公司百川燃气有限公司拟分别以现金 19,543.00 万元、2,504.78 万元收 购涿鹿大地燃气有限公司（以下简称"涿鹿大地"）及绥中大地天然气管道有限 公司（以下简称"绥中管道"）100%股权。具体内容详见公司于 2019 年 10 月 17 日披露的《关于收购涿鹿大地燃气有限公司及绥中大地天然气管道有限公司 100%股权的公告》（公告编号：2019-075）。 因在上述交易发生时，公司实际控制人可以控制涿鹿大地和绥中管道，根据 《上海证券交易所股票上市规则》等有关规定，上述交易构成关联交易，公司第 十二届董事会同意将上述交易追认为 ...

Group 1 - On November 14, Baichuan Energy executed a block trade of 4 million shares, with a transaction value of 21.44 million yuan, accounting for 1.7% of the total trading volume for the day [1] - The transaction price was 5.36 yuan, which represents a discount of 1.29% compared to the market closing price of 5.43 yuan [1]

New Stock Issuance - Cash option declaration period for Hangzhou Steam Turbine (200771) is from November 19 to November 25, 2025[1] - Acquisition request period for Hailianxun (300277) is from November 12 to November 18, 2025[1] Trading Alerts - Severe abnormal fluctuation reported for Haike Xinyuan (301292) on November 11, 2025[1] - Abnormal fluctuation noted for ST Yuancheng (603388) on November 11, 2025[1] Company Announcements - Announcement for Tianji Co., Ltd. (002759) on November 13, 2025[1] - Announcement for Huatong Technology (688109) on November 13, 2025[1] Other Notable Events - ST Meigu (000615) reported on November 13, 2025[1] - ST Zhongdi (000609) reported on November 13, 2025[1]

Core Viewpoint - Baichuan Energy announced that its stock price experienced an abnormal fluctuation, with a cumulative increase of over 20% in closing prices on November 11 and 12, 2025, which is in accordance with the trading rules of the Shanghai Stock Exchange [1]. Summary by Sections - The company confirmed that there are no undisclosed significant information as of the date of the announcement, after self-inspection and communication with its controlling shareholders and actual controllers [1].

证券代码：600681 证券简称：百川能源 公告编号：2025-045 百川能源股份有限公司 关于股票交易异常波动的公告 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: 一、股票交易异常波动的具体情况 公司股票于 2025 年 11 月 11 日和 11 月 12 日连续 2 个交易日收盘价格涨幅 偏离值累计超过 20%，根据《上海证券交易所交易规则》的有关规定，属于股票 交易异常波动。 二、公司关注并核实的相关情况 针对公司股票交易异常波动，公司对有关事项进行了核查，并向公司控股股 东、实际控制人及其一致行动人发函问询，现将有关情况说明如下： （一）生产经营情况 经公司自查，公司目前生产经营情况正常，市场环境及行业政策未发生重大 调整，生产成本和销售等情况未出现大幅波动，内部生产经营秩序正常。 （二）重大事项情况 截至本公告披露日，公司及控股股东、实际控制人不存在筹划涉及上市公司 百川能源股份有限公司（以下简称"公司"）股票于 2025 年 11 月 11 日 和 11 月 12 日连续 2 个交易日收盘价格 ...

百川能源公告称，公司股票于2025年11月11日和11月12日连续2个交易日收盘价格涨幅偏离值累计超过 20%，属于异常波动。经自查，公司生产经营正常，不存在应披露而未披露的重大事项，未发现对股价 有重大影响的媒体报道、市场传闻。公司董监高、控股股东及实控人在此期间无买卖公司股票情况。公 司提醒投资者注意交易风险，理性投资。 ...

Core Viewpoint - The gas sector experienced a rise of 1.45% on November 11, with Victory Co. leading the gains, while the overall market indices showed a decline [1]. Group 1: Market Performance - The Shanghai Composite Index closed at 4002.76, down 0.39%, and the Shenzhen Component Index closed at 13289.0, down 1.03% [1]. - Key stocks in the gas sector showed significant increases, with Victory Co. rising by 10.05% to a closing price of 4.16, and Baichuan Energy increasing by 9.93% to 4.98 [1]. Group 2: Trading Volume and Value - Victory Co. had a trading volume of 88,100 shares and a transaction value of 36.65 million yuan, while Baichuan Energy had a trading volume of 1.4641 million shares and a transaction value of 701 million yuan [1]. - Other notable performers included Shouhua Gas with a closing price of 15.03, up 5.92%, and Delong Energy with a closing price of 10.40, up 4.42% [1]. Group 3: Capital Flow - The gas sector saw a net inflow of 221 million yuan from main funds, while retail investors experienced a net outflow of 164 million yuan [2]. - The main funds showed a significant net inflow in Baichuan Energy, amounting to 132 million yuan, while retail funds had a net outflow of 76 million yuan [3].