Core Viewpoint - Luohua Technology (600691) experienced a significant decline of 9.62% in its stock price, with a trading volume of 5.20 billion yuan and a turnover rate of 6.95% on the day of the report [1] Trading Data Summary - The stock was listed on the Shanghai Stock Exchange's watch list due to a daily price deviation of -9.99%, with net selling from the Shanghai-Hong Kong Stock Connect amounting to 14.16 million yuan [1] - The top five trading departments recorded a total transaction volume of 113 million yuan, with a buying amount of 41.81 million yuan and a selling amount of 70.95 million yuan, resulting in a net selling of 29.13 million yuan [1] - The Shanghai-Hong Kong Stock Connect was both the largest buying and selling department, with a buying amount of 14.03 million yuan and a selling amount of 28.18 million yuan, leading to a net selling of 14.16 million yuan [1] Fund Flow Analysis - The stock saw a net outflow of 48.96 million yuan in principal funds, with a significant outflow of 37.09 million yuan from large orders and 11.87 million yuan from medium orders [1] - Over the past five days, the stock experienced a net inflow of 57.23 million yuan in principal funds [1] Financial Performance - According to the semi-annual report released on August 30, the company achieved an operating income of 5.13 billion yuan in the first half of the year, reflecting a year-on-year decrease of 0.63%, and reported a net loss of 229 million yuan [1]

New Stock Issuance - Cash option declaration period for *ST Tianmao (000627) is from September 15 to September 19, 2025[1] - *ST Zitian (300280) has 12 trading days remaining until the last trading day during the delisting arrangement period[1] Trading Alerts - *ST Jishi Media (601929) reported severe abnormal fluctuations in stock price[1] - *ST Yushun (002289) and *ST Weier (002058) are under scrutiny due to abnormal trading activities[1] Company Announcements - *ST Gao Hong (000851) and *ST Dongtong (300379) have recent announcements regarding their financial status[1] - Shanghai Construction (600170) and Zhongke Shuguang (603019) have disclosed important updates on their operations[1] Market Trends - The report indicates a trend of increased scrutiny on companies with abnormal trading patterns, reflecting a tightening regulatory environment[2] - The number of companies under cash option declarations and delisting arrangements suggests a potential increase in market volatility[1]

Market Overview - The agricultural chemical sector experienced a decline of 0.93% on September 17, with LuHua Technology leading the drop [1] - The Shanghai Composite Index closed at 3876.34, up 0.37%, while the Shenzhen Component Index closed at 13215.46, up 1.16% [1] Stock Performance - Notable gainers in the agricultural chemical sector included: - BeisiMei (300796) with a closing price of 10.52, up 1.15% on a trading volume of 100,600 shares and a turnover of 106 million yuan [1] - HongTaiYang (000525) closed at 6.73, up 1.05% with a trading volume of 299,900 shares and a turnover of 203 million yuan [1] - Conversely, LuHua Technology (600691) saw a significant decline of 9.62%, closing at 3.10 with a trading volume of 1,651,300 shares and a turnover of 520 million yuan [2] Capital Flow - The agricultural chemical sector experienced a net outflow of 276 million yuan from institutional investors, while retail investors saw a net inflow of 325 million yuan [2] - Key stocks with notable capital flows included: - Dongfang Iron Tower (002545) with a net inflow of 39.42 million yuan from institutional investors [3] - Xingfa Group (600141) had a net inflow of 37.37 million yuan from institutional investors [3]

Core Viewpoint - Yangmei Chemical announced that its stock price experienced an abnormal fluctuation, with a cumulative increase of over 20% in closing prices over three consecutive trading days from September 12 to September 16, 2025 [2] Company Operations - The company conducted a self-inspection and consulted with its controlling shareholder and actual controller, confirming that its daily operations remain normal and there have been no significant changes [2] - There are no undisclosed significant information by the company or its controlling shareholder and actual controller as of the date of the announcement [2]

证券代码：600691 证券简称：阳煤化工 公告编号：临 2025-044 山西潞安化工科技股份有限公司 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个别及连带责任。 重要内容提示： 山西潞安化工科技股份有限公司（以下简称"公司"或"本公司"）股票 于 2025 年 9 月 12 日、2025 年 9 月 15 日、2025 年 9 月 16 日连续三个交易日内 收盘价格涨幅偏离值累计超过 20%。根据《上海证券交易所股票上市规则》的相 关规定，属于股票交易价格异常波动的情形。 经公司自查，并书面征询公司控股股东、实际控制人，截至本公告披露 日，公司日常经营情况正常，未发生重大变化，公司及控股股东、实际控制人不 存在应披露未披露的重大信息。 公司因化工市场环境影响，主要产品价格持续下跌，公司 2023 年度、2024 年度、2025 年上半年归属于上市公司股东的净利润分别为-13.66 亿元、-6.81 亿元、-2.29 亿元，敬请广大投资者注意业绩风险。 一、股票交易异常波动的具体情况 公司股票于 2025 年 ...

Market Performance - The three major indices collectively rose on September 16, with the Shenzhen Component Index increasing by 0.45%, the Shanghai Composite Index by 0.04%, and the ChiNext Index showing the largest gain of 0.68% [1] - The Shanxi sector experienced an overall upward trend, influenced by the market, with an increase of 0.90% [1] Company Highlights - Yangmei Chemical (stock code: 600691) reached its daily limit with a rise of 9.94% [2] - Kuaijingtong (stock code: 002640) also showed significant performance, increasing by 7.49% compared to the previous trading day [2] - Shanxi Coal (stock code: 000983) has seen a cumulative increase of 5.87% over four consecutive days [2] Yangmei Chemical - Yangmei Chemical, established on November 19, 1993, is set to change its name to Shanxi Lu'an Chemical Technology Co., Ltd. on September 1, 2025, with the stock abbreviation changing to "Lu Hua Technology" on September 17, 2025 [3] - The company specializes in the production and sales of chemical products, including urea, propylene, and ion membrane caustic soda [3] - Yangmei Chemical focuses on high-end, intelligent, green, and service-oriented industrial development, enhancing resource allocation and technological innovation to strengthen its core competitiveness [3] Kuaijingtong - Kuaijingtong, originally founded in 1995 as a clothing retail business, transitioned into cross-border e-commerce in July 2014 after a major asset restructuring [4] - The company has become a leading cross-border e-commerce entity in the A-share market, offering a variety of products including 3C electronics, clothing, and beauty products to over 200 countries and regions globally [4] Shanxi Coal - Shanxi Coal, part of the Xishan Coal Electricity Group, is the largest coking coal production base in China, with a focus on coal production, sales, and processing [5] - The company has strategic partnerships with well-known enterprises such as Baosteel and Huaneng International, with its products sold across more than 20 provinces in China and exported to countries like Japan and Germany [5] - Recently, Shanxi Coal announced the resumption of production at its Shuiyu Coal Mine following a safety incident, effective from September 12 [5]

Core Viewpoint - Recent penalties imposed on *ST Lingda and Yangmei Chemical highlight the regulatory authorities' zero-tolerance stance towards the misuse of listed companies' funds and information disclosure violations [2][9] Group 1: Penalties and Violations - *ST Lingda was fined 1 million yuan for failing to disclose related party fund occupation of 65.6 million yuan and for unauthorized external guarantees totaling 126 million yuan [2][5] - Yangmei Chemical faced a fine of 1.5 million yuan due to its controlling shareholder, Huayang Group, non-operationally occupying 1.126 billion yuan without disclosure [9][10] - The penalties reflect a significant increase in regulatory enforcement efficiency, with Yangmei Chemical's case being resolved in just over two months [2][12] Group 2: Regulatory Changes and Impacts - The new delisting rules, effective from April 2024, have intensified scrutiny on fund occupation cases, with non-repayment of occupied funds leading to potential delisting [10][12] - Regulatory actions have resulted in the recovery of misappropriated funds, with *ST Lingda recovering all occupied funds and eliminating unauthorized guarantees [7][10] - The overall regulatory process has become faster, with cases like *ST Lingda's taking less than 10 months from investigation to final penalty [12][13]

Core Viewpoint - Recent penalties imposed on listed companies for fund occupation issues highlight the regulatory authorities' "zero tolerance" stance towards actions that infringe on the interests of listed companies and minority investors [1][7]. Group 1: *ST Lingda's Violations - *ST Lingda was fined 1 million yuan for failing to disclose related party fund occupation of 65.6 million yuan and for unauthorized guarantees totaling 126 million yuan, with responsible individuals fined 4 million yuan [1][3]. - The company had a total of 65.6 million yuan occupied by related parties, accounting for 9.95% of its latest audited net assets, and 126 million yuan in unauthorized guarantees, representing 19.10% of its net assets [4][5]. - The penalties reflect a significant regulatory crackdown, with the company facing multiple disclosure violations, including failure to report production stoppages and risks related to equipment prepayments [4][5]. Group 2: Yangmei Chemical's Violations - Yangmei Chemical was fined 1.5 million yuan for the non-operational occupation of 1.126 billion yuan by its controlling shareholder, which was not disclosed in financial reports [1][7]. - The funds occupied by the controlling shareholder represented 17.74% of Yangmei Chemical's latest audited net assets, and the penalties included fines for both the company and responsible individuals totaling 690,000 yuan [8][9]. - The regulatory response to Yangmei Chemical's violations was swift, with the entire process from investigation to penalty completion taking just over two months [12]. Group 3: Regulatory Efficiency - The regulatory authorities have significantly improved their efficiency in handling fund occupation cases, with the time from investigation to penalty issuance being notably reduced [11][12]. - For instance, *ST Lingda's case took less than 10 months from being filed to receiving the final penalty decision, while Yangmei Chemical's case was resolved in just over two months [11][12]. - This increase in regulatory speed indicates a more proactive approach to enforcing compliance and protecting the interests of investors [10][11].

Core Viewpoint - Recent penalties imposed on *ST Lingda and Yangmei Chemical highlight the regulatory authorities' zero-tolerance stance towards the misuse of listed companies' funds and information disclosure violations [1][6] Group 1: *ST Lingda's Violations - *ST Lingda failed to disclose related party fund occupation amounting to 65.6 million yuan, which is 9.95% of its latest audited net assets [2] - The company also did not disclose external guarantees totaling 126 million yuan, representing 19.10% of its latest audited net assets, with violations occurring over a 12-month period [3] - The penalties included a fine of 1 million yuan for the company and 4 million yuan for responsible individuals, reflecting a strict regulatory approach towards major offenders [3][4] Group 2: Yangmei Chemical's Violations - Yangmei Chemical's violations involved the non-operational occupation of 1.126 billion yuan by its controlling shareholder, which was not disclosed in financial reports, constituting 17.74% of its latest audited net assets [6][7] - The company received a fine of 1.5 million yuan, while the controlling shareholder and responsible personnel faced fines totaling 6.9 million yuan [6][7] Group 3: Regulatory Efficiency - The regulatory process has significantly accelerated, with *ST Lingda's case taking less than 10 months from the initiation of the investigation to the final penalty decision [8] - Yangmei Chemical's case was resolved in just over two months, indicating a marked improvement in regulatory efficiency [10]

Group 1 - Yishitong plans to repurchase shares worth between 30 million to 55 million yuan at a price not exceeding 40.69 yuan per share, intended for employee stock ownership plans or equity incentives [1] - Guoyao Modern's subsidiary has received approval for a sodium bicarbonate injection to increase specifications and pass consistency evaluation [2] - Xinjing plans to reduce its shareholding by up to 1.2 million shares, accounting for 0.78% of the total share capital, between October 14, 2025, and January 13, 2026 [2] Group 2 - Jinfeikeda intends to apply for an additional credit limit of up to 60 million yuan from Jiangsu Financial Leasing [3] - Boshi Co. signed a project contract worth 235 million yuan with Guoneng Yulin Chemical for a three-year service period starting from October 31, 2025 [4] - Luan Energy reported a coal sales volume of 3.78 million tons in August, a decrease of 13.70% year-on-year [6] Group 3 - Shengnong Development achieved sales revenue of 1.857 billion yuan in August, a year-on-year increase of 19.11% [8] - Huading Co. plans to transfer 9.26% of its shares through public solicitation of transferees [10] - China Metallurgical Group's new contract amount from January to August decreased by 18.2% year-on-year, totaling 679.57 billion yuan [12] Group 4 - Longjing Environmental plans to invest approximately 3.99 billion yuan in the construction of a hydropower station project in the Democratic Republic of the Congo [14] - Longjing Environmental also plans to invest 2.391 billion yuan in an integrated energy station project, expected to be operational by the second quarter of 2026 [15] - Transsion Holdings has set the transfer price for its shares at 81.81 yuan per share, with a subscription rate of 1.15 times [17] Group 5 - Sinopec Oilfield Services won a bid for a natural gas pipeline project with a contract value of 858 million yuan [18] - Huaitian Thermal Power received a warning letter from the Liaoning Securities Regulatory Bureau for information disclosure violations [20] - China Nuclear Engineering signed new contracts totaling 96.633 billion yuan as of August [22] Group 6 - Shanghai Mechanical plans to publicly transfer 67% of its stake in Simic Welding Materials, with an estimated value of 291 million yuan [24] - Zhongke Environmental appointed Tang Xia as the new deputy general manager [26] - Baiyang Pharmaceutical signed a strategic cooperation agreement with Jikun Pharmaceutical for a drug project [28] Group 7 - Jinsong New Materials received a warning letter from the Zhejiang Securities Regulatory Bureau for fundraising irregularities [27] - Weitang Industrial obtained a national invention patent for a battery tray welding deformation control device [29] - Dongsoft Carrier secured two national invention patents related to energy management and voltage regulation circuits [30] Group 8 - Lian De Equipment won a bid for the BOE AMOLED production line project with a total amount of 201 million yuan [31] - Jingjiawei signed a strategic cooperation agreement with Anchaoyun to develop high-performance cloud desktop solutions [32] - Chuaning Biological received approval for a 1 billion yuan medium-term note registration [34] Group 9 - Jifeng Co. plans to reduce its shareholding by up to 2% through block trading [36] - Taihe Intelligent plans to transfer 5.79% of its shares to Sunshine New Energy Development Co., Ltd. [36] - Yangmei Chemical will change its stock name to "Luhua Technology" starting September 17, 2025 [38] Group 10 - ST Songfa's subsidiary signed contracts for the construction of four container ships, with a total value of approximately 300 to 500 million USD [40] - Green Energy Huichong plans to establish a joint venture with Xianyang Economic Development Group with a registered capital of 250 million yuan [42] - Baiyao Tai received a milestone payment of 5.4 million USD from Intas Pharmaceuticals [38]