人民财讯9月26日电，新华锦（600735）9月26公告，因公司存在关联方非经营性占用资金且未在1个月 内完成清偿和整改，公司股票9月29日停牌1天，于9月30日起复牌并实施其他风险警示，股票简称变更 为"ST新华锦"，日涨跌幅限制为5%。 ...

Core Viewpoint - The company Xinhua Jin is facing significant financial issues due to the non-repayment of over 400 million yuan by its controlling shareholder, raising concerns about potential delisting risks [1][2]. Financial Issues - As of September 23, the controlling shareholder has not returned 406 million yuan, which is classified as non-operational fund occupation [2]. - The company has been warned that if the funds are not recovered within a month, it may face risk warnings and potential delisting [2]. - The company reported a revenue of 669 million yuan for the first half of 2025, a year-on-year decrease of 24.92%, and a net profit of 13 million yuan, down 39.45% year-on-year [9]. Shareholder and Debt Situation - The controlling shareholder, Shandong Lujin Import and Export Group, has all of its shares pledged, with a reference price of 6.74 yuan per share, while the current stock price is around 5.6 yuan [3]. - The controlling shareholder's shares have been judicially frozen due to a loan dispute involving 75 million yuan with Shandong Hengsheng Private Fund Management [5]. Recovery Measures - The company has signed a debt repayment agreement with Qingdao Beer Co., which involves a 665 million yuan equity transfer agreement, providing the company with priority rights to recover the receivables [6]. Financial Reporting Concerns - The company has faced regulatory scrutiny for its financial reporting, with issues identified in revenue recognition and accounting practices, leading to concerns about the reliability of its financial statements [8][9]. - The financial director has not guaranteed the authenticity of the half-year report, indicating potential issues with financial transparency [9].

格隆汇9月26日｜新华锦公告，因公司存在关联方非经营性占用资金且未在1个月内完成清偿和整改，公 司股票将于2025年9月29日停牌1天，2025年9月30日起实施其他风险警示。实施其他风险警示后公司股 票将在风险警示板交易，股票价格的日涨跌幅限制为5%。 ...

Market Overview - The jewelry sector experienced a decline of 0.21% on September 26, with Xinhua Jin leading the drop. The Shanghai Composite Index closed at 3828.11, down 0.65%, while the Shenzhen Component Index closed at 13209.0, down 1.76% [1]. Individual Stock Performance - Notable performers in the jewelry sector included: - Chao Hong Ji (002345) with a closing price of 14.96, up 1.01% and a trading volume of 113,800 shares, totaling 170 million yuan in transaction value. - Man Ka Long (300945) also rose by 1.01% to close at 66.61, with a trading volume of 159,700 shares [1]. - Conversely, Xinhua Jin (600735) fell by 2.61% to 5.60, with a trading volume of 379,700 shares and a transaction value of 215 million yuan [2]. Capital Flow Analysis - The jewelry sector saw a net outflow of 31.72 million yuan from institutional investors, while retail investors contributed a net inflow of 56.58 million yuan [2]. - The capital flow for individual stocks indicated that: - Chao Hong Ji had a net inflow of 13.86 million yuan from institutional investors, while retail investors had a net outflow of 2.25 million yuan [3]. - Xinhua Jin experienced a net outflow of 3.09 million yuan from institutional investors [3].

Market Overview - The jewelry sector experienced a decline of 2.41% on September 25, with Xinhua Jin leading the drop [1] - The Shanghai Composite Index closed at 3853.3, down 0.01%, while the Shenzhen Component Index closed at 13445.9, up 0.67% [1] Individual Stock Performance - Xinhua Jin (600735) saw a significant drop of 6.05%, closing at 5.75, with a trading volume of 467,100 shares and a turnover of 276 million yuan [2] - Other notable declines included: - Measurement Technology (002345) down 5.85% to 14.81 [2] - Ruibeka (600439) down 4.28% to 2.91 [2] - Mankalon (300945) down 2.94% to 19.79 [2] - The highest trading volume was recorded for Mankalon, with 160,000 shares traded [2] Capital Flow Analysis - The jewelry sector experienced a net outflow of 238 million yuan from institutional investors, while retail investors saw a net inflow of 221 million yuan [2] - The following stocks had notable capital flows: - Feiyada (000026) had a net inflow of 1.51 million yuan from institutional investors [3] - Xinhua Jin (600735) had a net outflow of 11.31 million yuan from institutional investors [3] - Mankalon (300945) had a net outflow of 8.76 million yuan from institutional investors [3]

Core Viewpoint - Xinhua Jin (600735.SH) is facing significant financial challenges, including a large amount of non-operating fund occupation by its controlling shareholder, Xinhua Jin Group, totaling 406 million yuan [2][3]. Financial Situation - As of the latest report, Xinhua Jin's revenue for 2024 was 1.637 billion yuan, a decrease of 30.97% year-on-year, with a net profit of -134 million yuan, down 354.59% [7]. - In the first half of 2025, the company reported revenue of 669 million yuan, a decline of 24.92% year-on-year, and a net profit of 12.87 million yuan, down 39.45% [7]. Fund Occupation and Regulatory Actions - Xinhua Jin Group and its affiliates have not returned the occupied funds, leading to regulatory scrutiny and potential administrative measures, including stock suspension and delisting warnings if the funds are not recovered within six months [3][4]. - The company is actively pursuing the recovery of these funds and is urging Xinhua Jin Group to expedite the disposal of other assets to raise the necessary capital [4]. Shareholder Actions and Agreements - Qingdao Beer announced a share transfer agreement with Xinhua Jin Group and Lu Jin Group for 100% equity of Jimo Yellow Wine, with a total consideration of 665 million yuan [2][6]. - However, four months after the announcement, there has been no update on the progress of the share transfer [2][6]. Business Operations - Xinhua Jin's business primarily focuses on "new trade and new materials," including the export of hair products and textiles, as well as graphite processing [7]. - The company has faced challenges in its operations, particularly in the second-hand car segment, which was divested in late 2024, impacting revenue [7].

Core Viewpoint - Xinhua Jin (600735.SH) is facing significant financial challenges, including a non-operational fund occupation of 406 million yuan by its controlling shareholder, Xinhua Jin Group, which has not been repaid as of the announcement date [1][3][4]. Group 1: Financial Situation - As of the latest report, Xinhua Jin's non-operational fund occupation stands at 406 million yuan [1][3]. - In 2024, Xinhua Jin reported a revenue of 1.637 billion yuan, a decrease of 30.97% year-on-year, and a net loss of 134 million yuan, a decline of 354.59% [10]. - For the first half of 2025, the company achieved a revenue of 669 million yuan, down 24.92% year-on-year, with a net profit of 12.87 million yuan, a decrease of 39.45% [10]. Group 2: Regulatory Actions - The regulatory authority has mandated Xinhua Jin to rectify the fund occupation issue within six months, failing which the company's stock may face suspension and potential delisting [2][4]. - The company has been instructed to actively recover the occupied funds to protect the interests of the listed company and minority shareholders [3][4]. Group 3: Shareholder Actions and Agreements - Xinhua Jin Group is in the process of transferring 100% equity of Jimo Yellow Wine to Qingdao Beer for a total consideration of 665 million yuan, but no progress has been reported in the last four months [5][8]. - The Jimo Yellow Wine company, under Xinhua Jin Group, reported a revenue of 166 million yuan in 2024, with a year-on-year growth of 13.5% [6].

Group 1 - The lawsuit for compensation by investors of Xinhua Jin (600735) has been filed with the Qingdao Intermediate People's Court, and the court is awaiting the next hearing arrangements [1] - As of the disclosure date of the 2025 semi-annual report, Xinhua Jin Group and its affiliates had a non-operating fund occupation balance of 406 million yuan [1] - The actions of Xinhua Jin Group and its affiliates violated the regulatory requirements set forth in the "Guidelines for the Supervision of Listed Companies No. 8" [1] Group 2 - Investors who purchased Xinhua Jin stock between May 8, 2025, and August 27, 2025, and sold or continued to hold the stock after August 27, 2025, are eligible to initiate claims for compensation [2] - The law firm has a history of successfully representing investors in securities fraud cases, having won or mediated compensation for nearly 200 stocks over the years [2]

Market Overview - The market is expected to maintain a range-bound movement between 3700 and 3900 in the short term [1][16] - Major U.S. stock indices experienced a collective decline, with the Dow Jones down 0.19%, S&P 500 down 0.55%, and Nasdaq down 0.95% [4][3] - Large tech stocks faced pressure, with notable declines in Amazon (down 3.04%), Nvidia (down 2.82%), and Tesla (down 1.93%) [4] Economic Indicators - The preliminary Purchasing Managers' Index (PMI) for the U.S. showed a slowdown in both manufacturing and services, with the manufacturing PMI at 52.0, down from 53.0 in August [4] - The OECD projected a global economic growth rate of 3.2% for 2025, an increase of 0.3 percentage points from its June forecast [7] Corporate Actions - Lakala announced that Legend Holdings reduced its stake by 807.81 million shares, bringing its holding to 23.97% [11] - Xinhuajin is at risk of being subject to other risk warnings and potential delisting due to non-operational fund occupation amounting to 406 million yuan [12] - Weixinno plans to invest 5 billion yuan in a new display industry innovation center in collaboration with Kunshan Weixin [13] - Ganli Pharmaceutical signed a supply framework agreement worth no less than 3 billion yuan related to insulin products [14]

Group 1 - The stock of Xinhua Jin (600735) reached the daily limit, with a turnover rate of 10.40% and a transaction amount of 258 million yuan, showing a volatility of 14.31% [2] - The stock was listed on the Shanghai Stock Exchange's daily limit deviation list due to a deviation value of 10.24%, with a net buying amount of 21.37 million yuan from brokerage seats [2] - The top five brokerage seats accounted for a total transaction amount of 91.01 million yuan, with a buying amount of 56.19 million yuan and a selling amount of 34.82 million yuan, resulting in a net buying of 21.37 million yuan [2] Group 2 - The largest buying brokerage was Huaxin Securities, with a buying amount of 24.98 million yuan, while the largest selling brokerage was JPMorgan Securities, with a selling amount of 10.09 million yuan [2][3] - In the past six months, the stock has appeared on the daily limit list 15 times, with an average price drop of 1.00% the next day and an average drop of 3.43% over the following five days [2] - The stock saw a net inflow of 44.42 million yuan from main funds today, with a significant single net inflow of 42.89 million yuan and a large single net inflow of 1.53 million yuan [2] Group 3 - The company reported a revenue of 669 million yuan for the first half of the year, a year-on-year decrease of 24.92%, and a net profit of 12.87 million yuan, down 39.45% year-on-year [3] - The trading data on September 23 showed significant buying from various brokerages, with the top five buying amounts ranging from 7.22 million yuan to 24.98 million yuan [3][4]