New Stock Issuance - Shanda Electric (Stock Code: 301609) issued at a price of 14.66[1] - Jiyuan Group (Stock Code: 732262) issued at a price of 10.88[1] Market Alerts - Jichuan Pharmaceutical (Stock Code: 600566) has a tender offer period from June 18, 2025, to July 17, 2025[1] - The last trading day for Tuisan Jinguang (Stock Code: 600190) is July 14, 2025, with 4 trading days remaining[1] - The last trading day for Tuisan Jinjing (Stock Code: 900952) is also July 14, 2025, with 4 trading days remaining[1] Abnormal Fluctuations - *ST Zitian (Stock Code: 300280) reported severe abnormal fluctuations on July 10, 2025[1] - *ST Yushun (Stock Code: 002289) reported abnormal fluctuations on July 11, 2025[1] Other Notable Announcements - Longyuan Green Energy (Stock Code: 603185) announced on July 11, 2025[1] - Kedi Pharmaceutical (Stock Code: 000590) announced on July 14, 2025[1]

证券代码：600777 证券简称：*ST 新潮 公告编号：2025-068 山东新潮能源股份有限公司 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法律责任。 重要提示： ★ 山东新潮能源股份有限公司（以下简称"公司"）股票于 2025 年 7 月 8 日、 7 月 9 日和 7 月 10 日连续 3 个交易日内日收盘价格涨幅偏离值累计超过 12%。 根据《上海证券交易所交易规则》的有关规定，属于股票交易异常波动情形。 ★ 经公司自查，截至本公告披露日，除已披露事项外，公司本身不存在影 响公司股票交易异常波动的重大事项。 ★ 相关风险提示： 1. 2025 年 7 月 5 日，公司对外披露了 2024 年年度报告及 2025 年第一季度 报告。因立信会计师事务所（特殊普通合伙）（以下简称"立信"）对公司 2024 年度的财务会计报告、内部控制出具了无法表示意见的《审计报告》和《内部控 制审计报告》，根据《上海证券交易所股票上市规则》相关规定，公司股票自 2025 年 7 月 8 日开市起复牌，被实施退市风险警示，并 ...

Core Viewpoint - ST New潮 is a striking example in China's A-share market, with its assets primarily located in the U.S., raising questions about its governance and financial practices [3][6]. Group 1: Company Overview - ST New潮 is registered in Yantai, Shandong, but operates its board in Beijing, with 99.91% of its assets located in Texas oil fields, USA [3]. - The company has not distributed dividends to domestic shareholders for 15 consecutive years, while its U.S. subsidiary employees enjoy high salaries, averaging 1.75 million RMB annually [4][11]. Group 2: Financial Background - From 2015 to 2017, ST New潮 raised 12.5 billion RMB through three rounds of financing, investing the entire amount in U.S. oil and gas assets, which now produce over 60,000 barrels daily and are valued at 33.8 billion RMB [6][9]. - The domestic parent company is burdened with 2.4 billion RMB in debt and has frozen accounts, while the U.S. subsidiary reported a net profit of 7.376 billion RMB from 2022 to Q3 2024 [8][9]. Group 3: Governance and Control - Although ST New潮 has no official controlling shareholder, it is effectively controlled by a pair of brothers from Hunan, who have manipulated board positions to maintain control over the U.S. subsidiary [10]. - The company has faced significant challenges in auditing its financials, with previous auditors unable to verify the authenticity of its U.S. assets, leading to a "ST" designation [13]. Group 4: Market Activity and Future Prospects - Despite the looming risk of delisting, major energy companies are still interested in acquiring stakes in ST New潮, driven by the value of its U.S. oil fields [14]. - The company’s assets are located in a region with significant shale oil reserves, but the uncertainty surrounding control raises concerns about the viability of any potential acquisitions [14].

Financial Overview - The company *ST Xinchao (600777) reported an increase in total operating revenue for Q1 2025, but net profit declined [2][3] Revenue and Profit - Total operating revenue reached 2.163 billion yuan, a year-on-year increase of 1.33% - Net profit attributable to shareholders was 590 million yuan, a year-on-year decrease of 3.65% - Deducted non-recurring profit, net profit was 589 million yuan, a year-on-year decrease of 3.81% - These figures indicate a slight growth in revenue but a weakening in profitability [3][4] Key Financial Metrics - Gross margin was 48.52%, a year-on-year decrease of 9.23% - Net margin was 27.3%, a year-on-year decrease of 4.91% - Earnings per share (EPS) was 0.09 yuan, a year-on-year decrease of 3.66% - Operating cash flow per share was 0.19 yuan, a year-on-year decrease of 18.48% - The decline in gross and net margins suggests challenges in cost control [4] Asset and Liability Situation - Cash and cash equivalents amounted to 1.346 billion yuan, a year-on-year decrease of 57.76% - Accounts receivable stood at 892 million yuan, a year-on-year decrease of 12.78% - Interest-bearing debt was 5.332 billion yuan, a year-on-year decrease of 26.20% - The significant reduction in cash reserves raises concerns about short-term liquidity, while the decrease in interest-bearing debt is a positive sign indicating progress in reducing financial burdens [5] Main Business Analysis - Although specific revenue breakdowns were not detailed, the overall changes in main business revenue and gross margin reflect varying performances across different business sectors [6] Comprehensive Evaluation - Overall, *ST Xinchao's performance in Q1 2025 is not ideal, with declines in net profit, gross margin, and net margin despite slight revenue growth - The substantial decrease in cash reserves poses potential liquidity risks, indicating a need for the company to optimize its cost structure and enhance profitability to address current operational challenges [7]

Core Viewpoint - The company *ST New Tide (600777) is facing challenges regarding the convening of a temporary shareholders' meeting, with multiple proposals being rejected by the board and supervisory committee due to procedural non-compliance with legal regulations and the company's articles of association [1][2][3]. Group 1: Shareholder Meeting Proposals - The company received a proposal from shareholders to convene a temporary shareholders' meeting on July 24, 2025, to discuss the early re-election of the board and supervisory committee [1][4]. - The board and supervisory committee have previously rejected similar proposals on June 28 and July 4, citing that the proposal did not meet the legal and procedural requirements [2][3]. - The latest proposal includes legal opinions from three law firms affirming that the request to convene the meeting complies with Chinese law and the company's articles of association [5]. Group 2: Shareholder Structure Changes - The company has undergone a significant change in its shareholder structure, with Inner Mongolia Yitai Coal Co., Ltd. becoming a major shareholder, holding 50.10% of the company's shares [6]. - The new major shareholder supports the convening of the temporary shareholders' meeting, indicating a shift in governance dynamics [6]. Group 3: Financial Reporting Issues - The company has faced scrutiny for failing to disclose its 2024 annual report on time, leading to an investigation by the China Securities Regulatory Commission [6]. - The 2024 annual report was eventually released but received a non-standard audit opinion due to insufficient documentation regarding employee compensation and other financial details [7][8]. - The company has engaged with the auditing firm to provide necessary documentation and explanations to address the audit concerns [8].

北京市朝阳区建国路 77 号华贸中心 3 号写字楼 34 层 邮政编码 100025 电话：(86-10) 5809-1000 传真：(86-10) 5809-1100 北京市竞天公诚律师事务所 关于山东新潮能源股份有限公司股东 提请召集召开公司临时股东大会事项之 法律意见书 致： 深圳市宏语商务咨询有限公司 本所根据《中华人民共和国公司法》等相关法律、法规、部门规章和规范性 文件的规定，对本次提请召开事项的相关法律事项进行了审查，并据此出具本法 律意见书。 为出具本法律意见，本所特作如下声明： （1）为出具本法律意见，我们假设，委托方（或其授权代表）所提供的文 件、材料和口头证言是完整、准确、真实和有效的，并无隐瞒、虚假和重大遗漏 之处，其中文件材料为副本或者复印件的，假设与其正本或原件是一致和相符的； 已向我们提供的文件未在提供后被修改； （2）为出具本法律意见之目的，我们假设，委托方（或其授权代表）提供 了本所认为作为出具本法律意见所必需的和真实的原始书面材料、副本材料、复 印材料或者口头证言；尽管如此，本所出具本法律意见是基于委托方（或其授权 代表）截止本法律意见出具之日可以并已提供给本所的资料和信息 ...

证券代码：600777 证券简称：*ST 新潮 公告编号：2025-068 山东新潮能源股份有限公司股东深圳市宏语商务咨 询有限公司、陈开军、宋娟、王震、宁波国金阳光股 权投资中心（有限合伙）、内蒙古伯纳程私募基金管 理有限公司-伯纳程芯茂会世 1 号私募证券投资基金 自行召集2025年第三次临时股东大会的通知 召集人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、 召集人和所履行的召集程序 （一） 召集人 股东深圳市宏语商务咨询有限公司（"深圳宏语"），持有本公司 109,046,527 股东大会召开日期：2025年7月24日 本次股东大会采用的网络投票系统：上海证券交易所股东大会网络投票 系统 根据《中华人民共和国公司法》（"《公司法》"）第一百一十四条、《山 东新潮能源股份有限公司章程》（"《公司章程》"）第四十八条的规定， 单独或者合计持有公司10%以上股份的股东有权向董事会、监事会请求 召开临时股东大会，董事会、监事会不召集和主持的，连续九十日以上 单独或者合计持有公司10%以上股份的股东可以自行召集和主持。按照 上述规定，山东新潮能 ...

北京市朝阳区建国路 77 号华贸中心 3 号写字楼 34 层 邮政编码 100025 电话：(86-10) 5809-1000 传真：(86-10) 5809-1100 北京市竞天公诚律师事务所 关于山东新潮能源股份有限公司股东 提请召集召开公司临时股东大会事项之 法律意见书 致： 深圳市宏语商务咨询有限公司 宁波国金阳光股权投资中心（有限合伙） 内蒙古伯纳程私募基金管理有限公司-伯纳程芯茂会世 1 号私募证券投资基金 陈开军 宋娟 王震 （以上主体合称"委托方"） 北京市竞天公诚律师事务所（"本所"）受委托方代表的委托，就委托方作为 合计持有山东新潮能源股份有限公司（"公司"或"新潮能源"）10%以上股份的 股东向公司董事会、监事会提议召集召开公司 2025 年第三次临时股东大会（"本 次股东大会"）事项（"本次提请召开事项"），出具本法律意见书。 本所根据《中华人民共和国公司法》等相关法律、法规、部门规章和规范性 文件的规定，对本次提请召开事项的相关法律事项进行了审查，并据此出具本法 律意见书。 1 为出具本法律意见，本所特作如下声明： （1）为出具本法律意见，我们假设，委托方（或其授权代表）所提供的文 ...

总部: 北京市朝阳区东大桥路甲8 号尚都国际中心 5 层 邮编 100020 分部: 天津市南开区融汇广场 C座2502 Tel: 022-24450031 Mobile:18526040025 http://www.huatailawfirmti.com. 北京华泰(天津)律师事务所 关于山东新潮能源股份有限公司 部分股东提请召开临时股东大会有关事项的 专项法律意见书 (2025)华泰意字第 T006号 致： 深圳市宏语商务咨询有限公司、宁波国金阳光股权投资中心（有限合伙）、 内蒙古伯纳程私募基金管理有限公司-伯纳程芯茂会世 1 号私募证券投资基金、 陈开军、宋娟、王震: 北京华泰（天津）律师事务所（以下简称"本所"）接受深圳市宏语商务咨 询有限公司 (以下简称"深圳宏语")、宁波国金阳光股权投资中心（有限合伙） (以下简称"国金阳光") 、内蒙古伯纳程私募基金管理有限公司-伯纳程芯茂 会世 1 号私募证券投资基金(以下简称"伯纳程基金")、陈开军、宋娟、王震 (以下 6 人简称为"提请召集人")的委托,根据《中华人民共和国公司法》 (以 下简称"《公司法》"）、《中华人民共和国证券法》（以下简称"《证券法 ...

环 球 律师 事 务 所 GLOBAL LAW OFFICE 北京市环球律师事务所 关于 股东提请山东新潮能源股份有限公司董事会、监事会 召集召开临时股东大会相关事项 之 法律意见书 北京市环球律师事务所 关于股东提请山东新潮能源股份有限公司董事会、监事会 t 去旅游区 ad Chanyar 00005 Chi 电话/7. (86 10) 6584 6688 按意/F. (86 10) 6584 666 26 == 10-5 77 Xuhul Cistri 电话/T. (86 21) 2310 传真/F (86 21) 2310 396级家婆家区三级在示效 =划窗地大厦B座272 府國际 RES: 51034 电话/T (86 28) 8605 9898 (86 28) 8313 553 环球 律师 事务所 SIOBAL LAW OFFI 召集召开临时股东大会相关事项 之法律意见书 GLO2025BJ(法) 字第 07114 号 致：深圳市宏语商务咨询有限公司、宁波国金阳光股权投资中心（有限合伙） 内蒙古伯纳程私募基金管理有限公司-伯纳程芯茂会世 1 号私募证券投资基金、 陈开军、宋娟、王震 本所受深圳市宏语 ...