Core Points - *ST Xinchao announced on October 13 that three lawsuits in the United States have been withdrawn by the plaintiffs and counter-plaintiffs, resulting in the termination of the cases without negative impact on the company's financial performance [1][2] - The lawsuits involved the protection of the company's assets in the U.S. and were initiated by former directors of its subsidiaries after being dismissed [1][2] Summary by Sections - **Lawsuit Details** - The first case was filed on June 30, 2025, in Texas, with the plaintiff being Yitai Co., and the defendants including Xinchao Energy and 12 subsidiaries [1] - The second and third cases were filed on August 4 and August 8, 2025, in Delaware and Nevada, respectively, involving former directors of U.S. subsidiaries [1] - **Resolution of Lawsuits** - All three lawsuits were officially withdrawn and confirmed by the courts on October 9, 2025 [2] - The company held its 13th Board of Directors' fourth meeting on the same day to address the replacement of directors in its U.S. subsidiaries [2] - **Governance Improvements** - The company has completed the director replacement process for all U.S. subsidiaries and the new directors have assumed their roles [2] - The company aims to enhance internal governance for its domestic and overseas subsidiaries and will fulfill its information disclosure obligations in a timely manner [2]

证券代码：600777 证券简称：*ST 新潮 公告编号：2025-095 山东新潮能源股份有限公司 关于涉及诉讼的进展公告 本公司第十三届董事会及第十三届董事会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： 案件所处的诉讼阶段：上市公司在美国涉及的三起诉讼案件，经各案原 告及反诉原告撤诉，均已终止。 上市公司所处的当事人地位： 案件一中，原告内蒙古伊泰煤炭股份有限公司（以下简称"伊泰股份"）为 保全和保护上市公司位于美国的资产，申请临时限制令，在董事会换届之前将上 市公司及其12家附属企业和原任董事列为被告，董事会换届后，上市公司已被从 被告名单中撤消； 一、本次重大诉讼的基本情况 案件一： 受理时间：2025 年 6 月 30 日 受理法院：德克萨斯州商事法院 原告：伊泰股份 被告：刘珂、刘斌、李鸣、新潮能源、宁波鼎亮企业管理合伙企业（有限合 1 伙）（以下简称"宁波鼎亮"）、浙江犇宝企业管理有限公司（以下简称"浙江 犇宝"）、Xinchao US Holdings Company、Surge Energy US Hold ...

Group 1 - The oil and gas extraction sector increased by 1.52% on October 10, with *ST Xinchao leading the gains [1] - The Shanghai Composite Index closed at 3897.03, down 0.94%, while the Shenzhen Component Index closed at 13355.42, down 2.7% [1] - The closing prices and percentage changes for key stocks in the oil and gas extraction sector are as follows: *ST Xinchao at 3.90 (+2.90%), Blue Flame Holdings at 7.16 (+1.99%), and China National Offshore Oil at 26.77 (+1.13%) [1] Group 2 - The net capital flow in the oil and gas extraction sector showed a net outflow of 66.62 million yuan from main funds, while retail funds saw a net inflow of 8.75 million yuan [1] - Detailed capital flow for specific stocks indicates that *ST Xinchao experienced a main fund net outflow of 17.53 million yuan, while retail funds had a net inflow of 5.51 million yuan [2] - Other stocks like Blue Flame Holdings and Intercontinental Oil & Gas also reported net outflows from main and speculative funds, with varying net inflows from retail investors [2]

Core Insights - The oil and gas extraction sector saw a 2.14% increase on October 9, with *ST Xinchao leading the gains [1] - The Shanghai Composite Index closed at 3933.97, up 1.32%, while the Shenzhen Component Index closed at 13725.56, up 1.47% [1] Sector Performance - The closing prices and percentage changes for key stocks in the oil and gas extraction sector are as follows: - *ST Xinchao: 3.79, up 4.99%, with a trading volume of 98,500 shares and a turnover of 37.35 million yuan - Blue Flame Holdings: 7.02, up 2.63%, with a trading volume of 123,200 shares and a turnover of 85.89 million yuan - Intercontinental Oil and Gas: 2.31, up 1.76%, with a trading volume of 1,428,600 shares and a turnover of 32.6 million yuan - China National Offshore Oil Corporation: 26.47, up 1.30%, with a trading volume of 443,400 shares and a turnover of 1.164 billion yuan [1] Fund Flow Analysis - The oil and gas extraction sector experienced a net outflow of 33.51 million yuan from institutional investors and 41.71 million yuan from retail investors, while there was a net inflow of 75.21 million yuan from individual investors [1] - Detailed fund flow for key stocks: - *ST Xinchao: Net inflow of 19.55 million yuan from institutional investors, with a 52.35% share; net outflow of 16.04 million yuan from retail investors - Blue Flame Holdings: Net inflow of 1.27 million yuan from institutional investors, with a 1.48% share; net outflow of 2.03 million yuan from retail investors - Intercontinental Oil and Gas: Net outflow of 13.14 million yuan from institutional investors, with a -4.03% share; net inflow of 0.96 million yuan from retail investors - China National Offshore Oil Corporation: Net outflow of 41.19 million yuan from institutional investors, with a -3.54% share; net inflow of 77.23 million yuan from retail investors [2]

Core Viewpoint - The oil and gas extraction sector experienced a decline of 0.43% on September 29, with *ST Xinchao leading the drop, while the overall market indices showed positive performance with the Shanghai Composite Index rising by 0.9% and the Shenzhen Component Index increasing by 2.05% [1]. Group 1: Market Performance - The Shanghai Composite Index closed at 3862.53, up by 0.9% [1]. - The Shenzhen Component Index closed at 13479.43, up by 2.05% [1]. - The oil and gas extraction sector's decline was led by *ST Xinchao, which fell by 1.11% to a closing price of 3.56 [1]. Group 2: Individual Stock Performance - Intercontinental Oil & Gas (600759) closed at 2.28, with a slight increase of 0.44% and a trading volume of 1.2146 million shares, amounting to a transaction value of 274 million [1]. - Blue Flame Holdings (000968) remained unchanged at 6.89, with a trading volume of 70,100 shares and a transaction value of 47.996 million [1]. - China National Offshore Oil Corporation (600938) closed at 26.40, down by 0.38%, with a trading volume of 315,400 shares and a transaction value of 831 million [1]. Group 3: Fund Flow Analysis - The oil and gas extraction sector saw a net outflow of 5.5946 million from institutional investors and a net outflow of 10.2858 million from retail investors, while retail investors had a net inflow of 15.8804 million [1]. - China National Offshore Oil Corporation (600938) experienced a net inflow of 5.2561 million from institutional investors, while retail investors had a net inflow of 9.1706 million [2]. - *ST Xinchao (600777) had a net inflow of 88,900 from institutional investors, but a significant net outflow of 273.11 million from retail investors [2].

Group 1 - The oil and gas extraction sector increased by 0.23% compared to the previous trading day, with *ST Xinchao leading the gains [1] - On the same day, the Shanghai Composite Index closed at 3828.11, down 0.65%, while the Shenzhen Component Index closed at 13209.0, down 1.76% [1] - The closing prices and performance of key stocks in the oil and gas extraction sector are as follows: *ST Xinchao at 3.60 with a rise of 2.56%, Blue Flame Holdings at 6.89 with a rise of 0.58%, Yao Tu Chu at 26.50 with a decline of 0.38%, and Intercontinental Oil and Gas at 2.27 with a decline of 0.44% [1] Group 2 - The net inflow of main funds in the oil and gas extraction sector was 21.2255 million yuan, while retail investors experienced a net outflow of 33.945 million yuan [2] - The net inflow from speculative funds was 12.7195 million yuan [2]

Core Viewpoint - The oil and gas extraction sector experienced a slight increase of 0.18% on September 25, with China National Offshore Oil Corporation (CNOOC) leading the gains, while the overall Shanghai Composite Index fell by 0.01% [1] Group 1: Market Performance - The Shanghai Composite Index closed at 3853.3, down 0.01% [1] - The Shenzhen Component Index closed at 13445.9, up 0.67% [1] - The oil and gas extraction sector's individual stock performance varied, with notable movements in several companies [1] Group 2: Individual Stock Performance - CNOOC (600938) closed at 26.60, up 1.03% with a trading volume of 445,600 shares and a transaction value of 1.183 billion yuan [1] - Intercontinental Oil and Gas (600759) closed at 2.28, unchanged with a trading volume of 1,391,900 shares and a transaction value of 319 million yuan [1] - Blue Flame Holdings (000968) closed at 6.85, down 1.30% with a trading volume of 59,700 shares and a transaction value of 41.0497 million yuan [1] - *ST Xinchao (600777) closed at 3.51, down 2.23% with a trading volume of 245,300 shares and a transaction value of 86.9957 million yuan [1] Group 3: Capital Flow Analysis - The oil and gas extraction sector saw a net outflow of 92.6336 million yuan from main funds, while speculative funds had a net inflow of 55.2169 million yuan and retail investors had a net inflow of 37.4167 million yuan [1] - CNOOC experienced a significant net outflow of 95.4241 million yuan from main funds, while speculative funds had a net inflow of 39.6109 million yuan and retail investors had a net inflow of 55.8132 million yuan [2] - Intercontinental Oil and Gas had a net inflow of 21.7484 million yuan from main funds, but a net outflow of 31.1439 million yuan from retail investors [2]

Group 1 - The oil and gas extraction sector experienced a decline of 1.56% on September 22, with *ST Xinchao leading the drop [1] - The Shanghai Composite Index closed at 3828.58, up 0.22%, while the Shenzhen Component Index closed at 13157.97, up 0.67% [1] - Major stocks in the oil and gas extraction sector showed varied performance, with *ST Xinchao down 3.66% and China Haikang down 0.91% [1] Group 2 - The net outflow of main funds in the oil and gas extraction sector was 60.73 million yuan, while retail investors saw a net inflow of 50.24 million yuan [1] - Detailed fund flow data indicated that *ST Xinchao had a main fund net outflow of 9.43 million yuan, with retail inflow of 6.08 million yuan [2] - Other companies like Blue Flame Holdings and Intercontinental Oil & Gas also reported significant net outflows from main funds [2]

Core Viewpoint - The article discusses the challenges faced by *ST New潮 (New潮 Energy) following a delayed annual shareholder meeting, highlighting investor concerns over control disputes and the management of overseas assets [1][3][8]. Group 1: Company Background - *ST New潮 Energy has been under scrutiny due to a delayed annual report, resulting in a proposed fine of 3 million yuan and additional penalties for two former executives totaling 2 million yuan [3]. - The company is currently embroiled in a power struggle between new and old management, particularly regarding control over its key overseas assets located in the United States [8]. Group 2: Shareholder Meeting Insights - The annual shareholder meeting held on September 19 lasted only about 18 minutes, with management leaving shortly after, leading to dissatisfaction among investors who traveled long distances to attend [4][6][7]. - Key topics of concern for shareholders included the management of overseas assets, the status of ongoing lawsuits in the U.S., and the potential for the company to remove its "ST" designation [5][11]. Group 3: Legal and Financial Issues - The company is involved in a lawsuit against its auditing firm, which could impact its financial reporting and investor confidence, as it has received "negative opinions" on internal controls for two consecutive years [12][13]. - A recent court ruling has mandated that the U.S. subsidiary of New潮 Energy maintain normal operations and restrict significant transactions without prior approval, emphasizing the importance of shareholder control [10]. Group 4: Market Reaction - Despite being under "ST" designation, New潮 Energy's stock experienced significant gains shortly after resuming trading, indicating some investor optimism [14]. - However, concerns remain about the ability of the new controlling shareholder, 伊泰 (Yitai), to effectively manage the company amidst ongoing challenges [14].

Core Viewpoint - The article discusses the challenges faced by New潮能源 (ST New潮, 600777.SH) following its delayed annual shareholder meeting and the implications of regulatory penalties, management transitions, and ongoing litigation affecting its operations and stock performance [1][2]. Group 1: Regulatory and Financial Issues - New潮能源 is facing a penalty of 3 million yuan and warnings for delaying its annual report by over two months, with additional fines for two former executives totaling 2 million yuan [1]. - The company has received a "disclaimer of opinion" audit report from its auditor, which has led to a risk warning for delisting. If the audit opinion does not improve by the 2025 fiscal year, the company may face termination of its listing [1][14]. Group 2: Shareholder Meeting Insights - The annual shareholder meeting on September 19 lasted only about 18 minutes, with management leaving shortly after, leading to dissatisfaction among shareholders who traveled long distances to attend [2][6]. - Key concerns among shareholders included whether the current board has control over overseas assets and the status of ongoing litigation in the U.S. [7][10]. Group 3: Management Transition and Control Issues - The transition of control from the previous management to the new board, backed by 伊泰B股 (900948.SH), has encountered obstacles, particularly regarding the control of core assets located in the U.S. [9][8]. - The new management's ability to effectively manage the company and its overseas assets remains uncertain, raising concerns about the future direction of New潮能源 [18]. Group 4: Stock Performance and Market Reaction - Despite being under a delisting risk warning, New潮能源's stock has seen significant gains, with a 70% increase year-to-date and nine consecutive trading days of price increases following its resumption of trading [15].