Market Overview - On November 5, the comprehensive sector rose by 0.62% compared to the previous trading day, with Zhangzhou Development leading the gains [1] - The Shanghai Composite Index closed at 3969.25, up 0.23%, while the Shenzhen Component Index closed at 13223.56, up 0.37% [1] Stock Performance - Zhangzhou Development (000753) closed at 10.12, with a significant increase of 10.00% and a trading volume of 1.7259 million shares, resulting in a transaction value of 1.685 billion [1] - Other notable performers included: - Yuegui Co. (000833) with a closing price of 16.31, up 4.15% [1] - Zhejiang Agricultural Co. (002758) closed at 9.81, up 1.45% [1] - Yatai Group (600881) closed at 1.95, up 1.04% [1] Capital Flow Analysis - The comprehensive sector experienced a net outflow of 170 million from main funds, while retail investors saw a net inflow of 215 million [2] - The capital flow for individual stocks showed: - Yuegui Co. had a main fund net inflow of 65.0034 million, but a retail net outflow of 84.4658 million [3] - Yatai Group had a main fund net inflow of 4.3124 million, with a retail net outflow of 3.2490 million [3] - Zhejiang Agricultural Co. had a main fund net inflow of 2.6830 million, with a retail net outflow of 2.2793 million [3]

Market Performance - The Shanghai Composite Index rose by 0.55% on November 3, with 22 industries experiencing gains, led by the media and coal sectors, which increased by 3.12% and 2.52% respectively [1] - The composite industry fell by 0.39%, with a net outflow of 1.19 million in main funds [2] Fund Flow Analysis - Main funds saw a net outflow of 239.44 billion across the two markets, with the media sector receiving the highest net inflow of 20.31 billion, followed by the banking sector with an inflow of 18.31 billion [1] - In the composite industry, 12 out of 16 stocks rose, with the highest net inflow recorded for Yuegui Co., amounting to 47.45 million, followed by Sanmu Group and Yatai Group with inflows of 31.92 million and 6.88 million respectively [2] Sector Performance - The sectors with the largest net outflows included non-ferrous metals, which saw a net outflow of 70.54 billion, and the electronics sector with an outflow of 45.71 billion [1] - The composite industry's stocks with the largest net outflows included Dongyangguang, Zhangzhou Development, and Yueda Investment, with outflows of 154 million, 43.32 million, and 8.90 million respectively [2]

Core Insights - The Chongqing state-owned enterprise reform sector saw a rise of 0.52% on October 31, with Qianli Technology leading the gains [1] - The Shanghai Composite Index closed at 3954.79, down 0.81%, while the Shenzhen Component Index closed at 13378.21, down 1.14% [1] Stock Performance Summary - Qianli Technology (601777) closed at 11.91, up 2.67%, with a trading volume of 466,600 shares and a transaction value of 553 million [1] - Yushanxia A (000565) closed at 8.16, up 1.87%, with a trading volume of 105,200 shares and a transaction value of 86.01 million [1] - ST Huicheng (002168) closed at 4.08, up 1.75%, with a trading volume of 57,300 shares and a transaction value of 23.44 million [1] - Other notable stocks include Yukaifang (000514) at 5.23 (+1.16%), Chuan Yi Co. (603100) at 23.34 (+0.78%), and Jieling Pickles (002507) at 13.12 (+0.69%) [1] Capital Flow Analysis - The Chongqing state-owned enterprise reform sector experienced a net inflow of 26.71 million from institutional investors, while retail investors saw a net inflow of 11.87 million [2] - However, speculative funds recorded a net outflow of 38.58 million [2] Individual Stock Capital Flow - Qianli Technology (601777) had a net inflow of 35.02 million from institutional investors, while it faced a net outflow of 13.45 million from speculative funds [3] - Chuan Yi Co. (603100) saw a net inflow of 14.05 million from institutional investors, with a net outflow of 8.75 million from speculative funds [3] - Sanfeng Environment (601827) had a net inflow of 13.99 million from institutional investors, but a net outflow of 14.78 million from retail investors [3]

Core Points - Shanghai Sanmao Enterprise (Group) Co., Ltd. will participate in the 2025 Shanghai-listed companies' third-quarter collective performance briefing on November 13, 2025, from 15:00 to 16:30 [2][5] - The company aims to enhance communication with investors by addressing common concerns regarding its operational results and financial indicators for the first three quarters of 2025 [2][4] - The meeting will be held in an interactive online format at the Shanghai Stock Exchange Roadshow Center [2][5] Meeting Details - The performance briefing will take place on November 13, 2025, from 15:00 to 16:30 at the Shanghai Stock Exchange Roadshow Center [5][6] - Participants will include the company's chairman, general manager, financial director, independent director representatives, and board secretary [3] - Investors can submit questions in advance from November 6 to November 12, 2025, through the Roadshow Center website or via the company's email [6][4] Governance and Risk Management - The company plans to purchase liability insurance for its directors and senior management to enhance its risk management framework [21][22] - The proposed insurance will have a compensation limit of no less than 30 million RMB per year, with an annual premium not exceeding 150,000 RMB [21][22] - The board of directors has submitted the proposal for the insurance purchase to the upcoming shareholders' meeting for approval [22][24] Governance System Revisions - The company has proposed revisions to several governance systems, including the management of related transactions and the use of raised funds [25][26] - These revisions are in compliance with updated regulations and will require approval from the shareholders' meeting before taking effect [25][26] - The specific governance systems to be revised include the management of related transactions, the management of raised funds, external guarantees, and the selection of accounting firms [25][26]

Core Viewpoint - Shanghai Sanmao (600689.SH) reported a decline in both revenue and net profit for the third quarter of 2025, indicating potential challenges in its financial performance [1] Financial Performance - The company's operating revenue for the third quarter was 293 million yuan, representing a year-on-year decrease of 16.92% [1] - The net profit attributable to shareholders of the listed company was 3.9088 million yuan, down 28.20% year-on-year [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 3.1455 million yuan, reflecting a year-on-year decline of 16.67% [1]

| | 证券代码： | | --- | --- | | B | A | | 900922 | 600689 | | | 证券简称： | | 三毛 B 股 | 上海三毛 | | | 编号：临 2025-047 | 上海三毛企业（集团）股份有限公司 第十二届董事会第三次会议决议公告 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 担个别及连带责任。 本议案于 2025 年 10 月 18 日经公司第十二届董事会审计委员会 2025 年第三次会议审议通过，表决结果：同意 5 票，反对 0 票，弃 权 0 票。 二、《关于为公司及董事、高级管理人员购买责任险的议案》 为完善公司风险管理体系，降低公司治理和运营风险，促进董事、 高级管理人员及其他相关主体在其职责范围内充分行使职权、履行职 责，保障公司和广大投资者的权益，拟为公司及全体董事、高级管理 人员及其他相关主体购买责任险，任一赔偿及总累计赔偿限额每年不 低于 3000 万元人民币，保险费总额不超过 15 万元人民币/年，期限 为三年，单次保单的保险期限不超过 12 个月，后续可按年续保或重 ...

上海三毛企业（集团）股份有限公司 募集资金使用管理制度 第二条 本制度所称募集资金是指公司通过发行股票或者其 他具有股权性质的证券，向投资者募集并用于特定用途的资金， 但不包括公司实施股权激励计划募集的资金。 （2008 年 5 月 19 日公司 2007 年度股东大会审议通过；2016 年 1 月 19 日公司 2016 年 第一次临时股东大会第一次修订；2025 年 X 月 X 日公司 2025 年第二次临时股东会第 二次修订） 第一章 总则 第一条 为了规范上海三毛企业（集团）股份有限公司（以下 简称"公司"）募集资金的管理和运用，保护投资者的利益，根据 《中华人民共和国公司法》《中华人民共和国证券法》《上市公司 证券发行注册管理办法》《上市公司募集资金监管规则》《上海证 券交易所股票上市规则》《上海证券交易所上市公司自律监管指引 第 1 号—规范运作》等有关法律、法规、规范性文件的相关规定 以及《公司章程》相关规定，结合公司实际情况，制定本制度。 第三条 本制度所称超募资金是指实际募集资金净额超过计 划募集资金金额的部分。 第四条 公司控股股东、实际控制人不得直接或者间接占用或 者挪用公司募集资金，不 ...

上海三毛企业（集团）股份有限公司 会计师事务所选聘管理制度 （2024 年 9 月 24 日公司 2024 年第一次临时股东大会审议通过，2025 年 X 月 X 日公司 2025 年第二次临时股东会第一次修订） 第一章 总则 第一条 为规范上海三毛企业（集团）股份有限公司（以下简 称"公司")选聘（含续聘、改聘，下同）会计师事务所行为，提 高财务信息质量，保证财务信息的真实性和连续性，切实维护股 东利益，根据《中华人民共和国公司法》《国有企业、上市公司 选聘会计师事务所管理办法》《上海证券交易所股票上市规则》 《上海证券交易所上市公司自律监管指引第 1 号—规范运作》等 法律法规、规范性文件和《公司章程》等有关规定，结合公司实 际情况，制定本制度。 第二条 本制度适用于上海三毛企业（集团）股份有限公司。 第五条 公司控股股东、实际控制人不得在公司董事会、股东 会审议决定前，向公司指定会计师事务所，不得干预审计委员会 独立履行审核职责。 第二章 会计师事务所执业质量要求 第六条 公司选聘的会计师事务所应符合以下条件： （一） 具有独立的法人资格，具备国家行业主管部门和中国 证券监督管理委员会（以下简称"中国证 ...

上海三毛企业（集团）股份有限公司 对外担保管理制度 （2005 年 8 月 17 日第五届董事会第六次会议审议通过；2008 年 4 月 24 日第六届董事 会第四次会议第一次修订；2015 年 4 月 24 日第八届董事会第九次会议第二次修订；2025 年 X 月 X 日公司 2025 年第二次临时股东会第三次修订，提级审批） 第一章 总则 第一条 为规范上海三毛企业（集团）股份有限公司（以下简 称"公司"）对外担保业务的内部控制，有效防范公司对外担保 风险，确保公司资产安全，维护股东利益，根据《中华人民共和 国民法典》《中华人民共和国公司法》《上市公司监管指引第 8 号—上市公司资金往来、对外担保的监管要求》《上海证券交易 所股票上市规则》《上海证券交易所上市公司自律监管指引第 1 号—规范运作》等法律法规及《公司章程》的有关规定，结合公 司实际情况，制定本制度。 第二条 本制度适用于上海三毛企业（集团）股份有限公司及 合并报表范围内的全资、控股子公司及控制的其他主体。 第三条 本制度所称的对外担保是指公司为他人提供的担保， 包括公司对全资子公司、控股子公司提供的担保。担保形式包括 保证、抵押及质押等符合 ...

上海三毛企业（集团）股份有限公司 关联交易管理制度 （2008 年 5 月 19 日公司 2007 年度股东大会审议通过；2014 年 5 月 23 日公司 2013 年 度股东大会第一次修订；2025 年 X 月 X 日公司 2025 年第二次临时股东会第二次修订） 第二条 本制度适用于上海三毛企业（集团）股份有限公司。 公司合并报表范围内的控股子公司参照执行。 第三条 公司的资产属于公司所有，公司应采取有效的措施防 止股东及其关联方通过关联交易违规占用或转移公司的资金、资 产及其他资源。 公司关联交易应当定价公允、决策程序合规、信息披露规范。 公司应当积极通过资产重组、整体上市等方式减少关联交易。 第一章 总则 第一条 为加强上海三毛企业（集团）股份有限公司（以下简 称"公司"）关联交易管理，保证公司与关联方之间订立的关联 交易合同符合公开、公平、公正的原则，维护公司及公司全体股 东的合法权益，根据《中华人民共和国公司法》《中华人民共和 国证券法》《上海证券交易所股票上市规则》《上海证券交易所 上市公司自律监管指引第 5 号—交易与关联交易》等法律法规以 及《公司章程》有关规定，结合公司实际情况，制定本制 ...