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]

Group 1 - The concept of the China-South Korea Free Trade Zone rose by 0.28%, ranking 6th among concept sectors in terms of growth, with five stocks increasing in value [1] - Notable gainers in the China-South Korea Free Trade Zone sector included Xinhua Jin, which hit the daily limit, and Lianyungang, Qingdao Double Star, and Qingdao Port, which rose by 5.23%, 1.12%, and 0.82% respectively [1] - The sector experienced a net inflow of 0.37 billion yuan, with Xinhua Jin leading the inflow at 44.42 million yuan, followed by Lianyungang and Qingdao Port with net inflows of 26.49 million yuan and 7.94 million yuan respectively [2][3] Group 2 - Xinhua Jin had the highest net inflow ratio at 17.20%, followed by Lianyungang at 4.06% and Qingdao Port at 3.82% [3] - The overall performance of the China-South Korea Free Trade Zone concept was supported by significant trading activity, with Xinhua Jin showing a trading turnover rate of 10.40% [3] - Conversely, stocks such as Qingdao Jinwang and Zhongchuang Logistics faced declines of 4.21% and 1.75% respectively, indicating mixed performance within the sector [4]

截至本公告披露日，新华锦集团及其关联方尚未归还占用资金，非经营性占用 公司资金余额4.06亿元。 证券代码：600735 证券简称：新华锦 公告编号：2025-050 山东新华锦国际股份有限公司 关于资金占用责令改正进展暨可能被实施其他风险警示 及退市风险警示的风险提示公告 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。 一、资金占用责令改正进展情况 山东新华锦国际股份有限公司（以下简称"公司"）收到中国证券监督管理委员 会青岛监管局（以下简称"青岛证监局"）出具的《关于对山东新华锦国际股份有 限公司、新华锦集团有限公司、张建华采取责令改正措施的决定》（【2025】11 号） （以下简称"《行政监管措施决定书》"），截至 2025 年半年度报告披露日，新华 锦集团有限公司（以下简称"新华锦集团"）及其关联方非经营性占用公司资金余 额 4.06 亿元，所有占用资金应在收到《行政监管措施决定书》之日起六个月内归还。 三、历次风险提示公告的披露情况 公司于2025年8月27日披露了《山东新华锦国际股份有限公司关于收到青岛证监 局<行 ...

Group 1 - Company received an administrative regulatory measure decision from Qingdao Securities Regulatory Bureau regarding non-operational fund occupation amounting to 406 million yuan [1] - The occupied funds must be returned within six months from the receipt of the decision, but as of the announcement date, the funds have not been returned [1] - Company is actively promoting the equity transfer of Shandong Jimo Huangjiu Factory Co., Ltd. and urging the group to expedite asset liquidation and fund raising to repay the occupied funds [1] Group 2 - According to the Shanghai Stock Exchange listing rules, if the company fails to recover the occupied funds within one month, it will face risk warnings on its stock [2] - If the company does not comply with the rectification requirements within six months, its stock will be suspended, and if not rectified within two months post-suspension, it will face delisting risk warnings [2] - Continued failure to rectify within the subsequent two months will result in termination of stock trading [2]