Core Viewpoint - ST New潮 is facing significant challenges, including the inability to disclose its 2024 financial report on time and the looming risk of delisting, primarily due to internal control issues and a complex ownership structure that has led to a lack of actual control over its assets [1][29]. Financial Performance - ST New潮 has reported impressive financial figures, including overseas oil and gas assets valued at over 30 billion, a net profit of 7.376 billion as of September 2024, and retained earnings of 6.947 billion [1]. - However, approximately 99% of these assets and profits are trapped in its U.S. subsidiaries, with the domestic parent company failing to distribute dividends for 15 years and accumulating significant debt [1]. Corporate Governance Issues - The company has been under scrutiny for its internal control deficiencies, leading to its designation as ST (Special Treatment) and increasing the risk of delisting [1][29]. - The lack of a real controlling shareholder and the ongoing governance disputes have resulted in a complex web of ownership and financial maneuvers that have left the company vulnerable [1][11]. Acquisition Interest - Despite its challenges, ST New潮 has attracted interest from major capital players, with significant bids for acquisition, including a recent 11.8 billion cash offer from Inner Mongolia's coal giant Yitai Group [4][18]. - The competition for ST New潮's assets highlights the perceived value of its overseas oil and gas holdings, despite the inherent risks associated with its governance and financial structure [4][23]. Historical Context - ST New潮 has a long history, originally established as a textile factory in 1985, and has undergone multiple transformations, ultimately becoming a "super shell" in the A-share market [5][6]. - The company has experienced numerous significant equity transfers and asset maneuvers, totaling over 15 major transactions involving more than 15 billion [9][11]. Regulatory Challenges - The complexity of ST New潮's asset control chain has raised concerns among regulators, particularly regarding the transparency and veracity of its overseas operations [24][32]. - The company's recent internal control audit revealed that only 18% of its overseas assets were subject to review, raising alarms about the reliability of its financial reporting [24][27]. Future Outlook - The potential acquisition of ST New潮 poses a high-risk gamble for interested parties, as the ability to effectively manage and repatriate its overseas assets remains uncertain [30][32]. - The ongoing governance issues and the intricate ownership structure could hinder any new owner's ability to realize the value of ST New潮's substantial overseas assets [30][32].

Regulatory Developments - The China Securities Association is seeking opinions on guidelines aimed at preventing securities practitioners from engaging in illegal trading activities, including insider trading and market manipulation [1] - The guidelines are intended to strengthen the management of industry personnel and promote a culture of compliance within the financial sector [1] Macro News - The Chinese Foreign Ministry confirmed that there have been no recent communications between the leaders of China and the United States, contradicting claims made by former President Trump [2] Industry Dynamics - The Ministry of Industry and Information Technology released key points for automotive standardization work for 2025, focusing on advanced technology standards and new areas such as artificial intelligence and solid-state batteries [3] - The National Medical Products Administration issued quality management regulations for online sales of medical devices, effective from October 1, 2025, to enhance industry accountability [5] Company News - Zhengzhou Coal Machine Company plans to change its name to "Zhongchuang Zhiling (Zhengzhou) Industrial Technology Group Co., Ltd." to better reflect its strategic direction [6] - Seres plans to go public in Hong Kong with a projected revenue of 145.1 billion yuan for 2024, a year-on-year increase of 305.5%, and aims to become a leading luxury electric vehicle brand [6] - Unigroup plans to issue H-shares and list on the Hong Kong Stock Exchange, considering the interests of existing shareholders [6] - Saitex New Materials announced that its chairman will voluntarily forgo salary, and several executives will reduce their salaries by 20% for the remainder of 2025 [7] - Jiayuan Technology's chairman is under investigation, and the company has arranged for the vice chairman to assume responsibilities during this period [7] - Lifan Technology is under investigation by the China Securities Regulatory Commission for suspected information disclosure violations [8] - Baidu's stock will be suspended for one day and will be renamed "*ST Baidu" due to negative net profit for 2024 [9] - Nanchuan Co. will also change its stock name to "ST Nanchuan" following a negative audit report [10] - Weitai will change its stock name to "*ST Weitai" and suspend trading for one day due to risk warnings [11] - ST Xinchao expects to miss the deadline for its annual report, which may lead to trading suspension [12] - XCMG plans to repurchase shares worth between 300 million and 600 million yuan [14] - SF Holding intends to repurchase shares worth between 500 million and 1 billion yuan [15] - Midea Group received a commitment from China Bank for a stock repurchase loan of up to 1 billion yuan [15] - Yitu Co. plans to repurchase up to 10% of its H-shares [16] - Beiqi Blue Valley reported a net loss of 953 million yuan in Q1 2025, despite a 150.75% increase in revenue [17] - Zhonggang Luoyang reported a 117% increase in net profit in Q1 2025, driven by revenue growth [18] - Yanghe Distillery's Q1 2025 net profit decreased by 39.93% due to market conditions [19] - CICC reported a 65% increase in net profit in Q1 2025, attributed to increased investment income [20] - WuXi AppTec's Q1 2025 net profit increased by 89.06% [21] - Lao Fengxiang's Q1 2025 net profit decreased by 24% due to declining sales [22]

证券代码：600777 证券简称：ST 新潮 公告编号：2025-034 山东新潮能源股份有限公司 关于浙江金帝石油勘探开发有限公司要约收购 公司股份的第三次提示性公告 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。 重要内容提示： 1、本次公告为浙江金帝石油勘探开发有限公司（以下简称"金帝石油"或"收 购人"）要约收购山东新潮能源股份有限公司（以下简称"上市公司"、"ST 新潮" 或"公司"）股份的第三次提示性公告。 2、预受要约申报代码：706096 3、要约收购价格：3.10 元/股 4、要约收购有效期：2025 年 4 月 8 日至 2025 年 5 月 7 日 本次要约期限内最后三个交易日，即 2025 年 4 月 30 日、2025 年 5 月 6 日 和 2025 年 5 月 7 日，预受股东不得撤回其对要约的接受。 公司于 2025 年 4 月 3 日披露了《山东新潮能源股份有限公司要约收购报告 书》（以下简称"《要约收购报告书》"），金帝石油向除收购人及其一致行动人 以外 ST 新潮全体股东的无限售条件流通股 ...

山东新潮能源股份有限公司 关于内蒙古伊泰煤炭股份有限公司要约收购公 司股份的第一次提示性公告 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。 重要内容提示： 1、本次公告为内蒙古伊泰煤炭股份有限公司（以下简称"伊泰 B 股"或"收 购人"）要约收购山东新潮能源股份有限公司（以下简称"上市公司"、"ST 新潮" 或"公司"）股份的第一次提示性公告。 证券代码：600777 证券简称：ST 新潮 公告编号：2025-035 4、要约收购有效期：2025 年 4 月 23 日至 2025 年 5 月 22 日 1 / 8 | 收购人 | 内蒙古伊泰煤炭股份有限公司 | | --- | --- | | 被收购公司 | 山东新潮能源股份有限公司 | | 被收购公司股票简称 | ST新潮 | | 被收购公司股票代码 | 600777.SH | | 收购股份的种类 | 人民币普通股（A股） | | 预定收购的股份数量 | 3,468,252,870股 | | 占被收购公司总股本的比例 | 51.00% | | 支付方式 | 现金 | | 要 ...

证券代码：600777 证券简称：ST 新潮 公告编号：2025-036 山东新潮能源股份有限公司关于 预计无法按期披露定期报告的风险提示性公告 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。 风险提示： 山东新潮能源股份有限公司（以下简称"公司"）原定于 2025 年 4 月 30 日 披露 2024 年年度报告及 2025 年第一季度报告。因定期报告涉及的部分财务信息 需要进一步补充提供，公司预计无法在法定期限内（2025 年 4 月 30 日）披露 2024 年年度报告及 2025 年第一季度报告。 根据《上海证券交易所股票上市规则》的相关规定，如公司未在法定期限内 披露 2024 年年度报告，公司股票自法定期限届满的次一交易日起停牌。如公司 在股票停牌两个月内仍未披露的，则将被实施退市风险警示。如公司股票交易被 实施退市风险警示之日起的两个月内仍未披露过半数董事保证真实、准确、完整 的 2024 年年度报告，公司股票存在被上海证券交易所决定终止上市的风险。 一、无法按期披露定期报告的原因 公司原定于2025年4月30日 ...

New Stock Issuance - Tian Gong Co., Ltd. issued shares at a price of 3.94[1] - Ze Run New Energy issued shares at a price of 33.06[1] Rights Issues and Trading Alerts - ST Xin Chao has a tender offer period from April 8, 2025, to May 7, 2025[1] - The second tender offer period for ST Xin Chao is from April 23, 2025, to May 22, 2025[1] - The last trading day for Pu Li Tui is in 14 trading days[1] - The last trading day for Pu Li Zhuang Tui is also in 14 trading days[1] Abnormal Fluctuations - Multiple stocks are flagged for severe abnormal fluctuations, including Dongfang Tong and Ningbo United[1] - A total of 14 stocks are noted for significant price volatility, with specific links to their announcements provided[1] Additional Trading Information - Various stocks have upcoming announcements and trading alerts, including ST Hua Peng and Bei Ding Co., Ltd.[1] - The report includes links to detailed announcements for each stock mentioned, ensuring transparency and accessibility for investors[1]

星标 ★ IPO日报 精彩文章第一时间推送 4月25日，山东新潮能源股份有限公司（简称ST新潮，600777）股价继续在3.20元上下徘徊，市值超过200亿元。 笔者以为，原因有这么几个： 1、优质的壳。 据了解，ST新潮的主业是石油天然气的上游勘探开采及销售，且是A股目前唯一一家实现油气上游全产业链国际化运营 的上市公司。还有，它目前并无实控人，且股权结构较分散，公司第一大股东宁波国金目前仅持股6.39%，前十大股东合计持股不足 30%。这使其成为资本运作的"天然"标的。 制图：佘诗婕 ST公司市值超200亿，在A股相当少见。 对许多投资者来说，往往看到哪家公司前冠上ST字符，那就是要畏之如蛇蝎，有多远就 离它多远。 但ST新潮似乎有点另类，成了一众投资者眼中的香饽饽，股价从3月20日的最低点2.02元，涨到4月23日最高的3.24 元，仅花了一个月时间，最高涨幅超过60%。 ST新潮为何突然间如此受欢迎？ 原来它在过去8个月内就收到了三次要约收购，并且还是溢价，三次收购的目标都很明确，均直指公司控股权。 据报道，内蒙古伊泰煤炭股份有限公司（900948.SH，下称"伊泰B股"）最近向ST新潮股东发出部分要 ...

New Stock Listings - The new stock "Zhongjie Automobile" (code: 301560) is listed at an issuance price of 16.50[1] Rights Issues and Offers - Cash option for "AVIC Capital" (code: 600705) is available from April 23 to April 25, 2025[1] - Tender offer for "ST Xinchao" (code: 600777) is open from April 23 to May 22, 2025[1] - "ST Puli" (code: 300630) will enter the delisting arrangement period starting April 28, 2025[1] Market Alerts - "Guoguang Chain" (code: 605188) has reported severe abnormal fluctuations[1] - "Dongfang Tong" (code: 300379) also reported severe abnormal fluctuations[1] Other Announcements - "Huili B" (code: 900939) has a recent announcement linked to its trading activities[1] - "Zhejiang Rongtai" (code: 603119) has a recent announcement linked to its trading activities[1] - "ST Jiuyou" (code: 600462) has a recent announcement linked to its trading activities[1]

而ST新潮自身也是烦恼重重，实控人长期缺位、控制权纷争、长期不分红叠加内控缺陷而"戴帽"，使得这份优质的海外油气资产深陷治理泥潭。 8个月内遭三路资本"围猎" 4月18日，伊泰B股发布对外投资公告，预定要约收购ST新潮的股份数为34.68亿股，占总股本的51%，要约收购价格为3.4元/股，预计最高收购价为117.92亿 元。本次要约收购的生效条件为预受要约的股票申报数量不低于ST新潮总股本的28%。 在A股市场首例竞争性要约收购的刺激下，ST新潮（600777）(600777.SH)股价于4月23日盘中站上2023年以来的新高。这场竞购始于今年初，浙江金帝石油 勘探开发有限公司(下称"金帝石油")率先抛出42.16亿元要约收购ST新潮20%股份，但其收购梦近日被伊泰B股(900948.SH)以117.92亿元、51%股份的更高报 价"截胡"。 证券之星注意到，二者目标直指ST新潮控制权，双方形成竞争要约。这背后，ST新潮稀缺的海外油气资产极具吸引力。然而，先一步行动的金帝石油因要 约数量、收购价逊色于伊泰B股而陷入被动局面。由于二者要约期限重叠，股东可随时"跳单"转投更高报价方，使得这场竞购之争愈发激烈。 资 ...

【深圳商报讯】（记者陈燕青）要约收购依然是部分公司控股的方式之一。根据Wind统计，年内已有 浩欧博、交大昂立、成大生物、ST新潮等4家公司发布了要约收购相关公告。业内认为，由于要约收购 存在一定的溢价，因此蕴藏部分套利机会。 要约收购是指收购人依照相关法律法规的规定公开向上市公司的全体股东发出收购要约，一般分为全面 要约和部分要约。要约收购约定的收购期限一般不得少于30日，并不得超过60日。各国法律对强制要约 收购触发点的规定各不相同，我国目前的强制要约收购触发点定为30%。 金帝石油此前计划以3.10元/股的价格，要约收购ST新潮20%股份，要约收购期限为4月8日至5月7日。 这样一来，伊泰B股与金帝石油构成竞争性要约，前者的报价比后者提高了近10%。 还有A股公司被港股公司要约收购。浩欧博1月下旬公告，港股中国生物制药通过境内控股子公司双润 正安预定要约收购其1557.05万股，占公司股份总数的25.01%。 从要约收购的目的来看，一是实施行业内横向整合，二是大股东进一步巩固对上市公司的控制权，三是 借此获取控股权。 对此，北方一家券商投行高管对记者表示，通过要约收购，收购方可以快速收购大量股份，从而对 ...