Core Points - Shanghai Longyu Data Co., Ltd. has received a decision from the Shanghai Stock Exchange to terminate its stock listing, effective from June 10, 2025, with the expected last trading date being June 30, 2025 [2][3] - The stock will enter a delisting arrangement period of 15 trading days, during which the first trading day will have no price limit, while subsequent days will have a price fluctuation limit of 10% [3] - The company plans to conduct a share buyback during the delisting period, with a total amount between RMB 50 million and RMB 100 million, and a maximum buyback price of RMB 4.85 per share [5] Summary by Sections Delisting Announcement - The company received a self-regulatory decision from the Shanghai Stock Exchange regarding the termination of its stock listing [2] - The stock will enter a delisting arrangement period starting June 10, 2025, with a total of 15 trading days [2][3] Trading Restrictions - The stock will be traded on the risk warning board with specific trading codes and limits [3] - Individual investors must have over 24 months of trading experience and meet asset requirements to buy delisted stocks [3] Risk Disclosure - The company will issue risk warning announcements during the delisting period, including a notice on the first trading day and subsequent notices every five trading days [3] Share Buyback Plan - The company intends to repurchase shares during the delisting period, with a total amount between RMB 50 million and RMB 100 million, and a maximum price of RMB 4.85 per share [5] - Key stakeholders will not reduce their shareholdings during the buyback period [5]

证券代码：603003 证券简称：退市龙宇 公告编号：2025-061 重要内容提示： 1、上海龙宇数据股份有限公司（以下简称"公司"）股票退市整理期交易起 始日为 2025 年 6 月 10 日，预计最后交易日期为 2025 年 6 月 30 日。 上海龙宇数据股份有限公司 关于公司股票进入退市整理期交易的第三次风险提示公告 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。 3、退市整理期届满后 5 个交易日内，上海证券交易所将对公司股票予以摘 牌，公司股票终止上市。敬请投资者审慎投资、注意风险。 4、在退市整理期交易期间，公司将不筹划或实施重大资产重组事项。 5、公司提请广大投资者及托管券商等市场主体在股票终止上市暨摘牌前及 时了结股票质押式回购、约定购回、融资融券、转融通、沪股通等业务。 6、对于自股票终止上市暨摘牌后至进入退市板块办理股份登记、挂牌期间 到期的司法冻结业务，建议有权机关在股票终止上市日前通过原协助执行渠 道提前办理续冻手续。 2、本公司股票将在退市整理期交易 15 个交易日，截止本公告日已交易 10 个交 ...

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： 证券代码：603003 证券简称：退市龙宇 公告编号：2025-060 上海龙宇数据股份有限公司 关于股份回购进展公告 | 回购方案首次披露日 | 2025/6/7 | | | | | | | --- | --- | --- | --- | --- | --- | --- | | 回购方案实施期限 | 年 月 2025 6 6 | 10 | 日~2025 | 年 | 月 | 日 30 | | 预计回购金额 | 5,000万元(含)~10,000万元(含) | | | | | | | 回购用途 | □减少注册资本 □用于员工持股计划或股权激励 □用于转换公司可转债 | | | | | | | | √为维护公司价值及股东权益 | | | | | | | 累计已回购股数 | 3,508.9724万股 | | | | | | | 累计已回购股数占总股本比例 | 9.33% | | | | | | | 累计已回购金额 | 8,555.6911万元 | | | | | | | ...

Quantitative Models and Construction 1. Model Name: Heston Model - **Model Construction Idea**: The Heston model is used to calculate the implied volatility of near-month at-the-money options, serving as a market fear index. Implied volatility reflects market participants' expectations of future volatility [8]. - **Model Construction Process**: The Heston model is a stochastic volatility model where the variance of the asset price follows a mean-reverting square-root process. The model is defined by the following equations: $ dS_t = \mu S_t dt + \sqrt{v_t} S_t dW_t^1 $ $ dv_t = \kappa (\theta - v_t) dt + \sigma \sqrt{v_t} dW_t^2 $ Here: - \( S_t \): Asset price - \( v_t \): Variance - \( \mu \): Drift rate - \( \kappa \): Mean reversion speed - \( \theta \): Long-term variance - \( \sigma \): Volatility of variance - \( W_t^1, W_t^2 \): Correlated Wiener processes [8] 2. Model Name: Multi-Sector Timing Model (Scissor Difference Strategy) - **Model Construction Idea**: This model uses the difference in the number of bullish and bearish signals among sector constituents to construct a timing strategy. If no bullish or bearish signals are present, the scissor difference is set to zero. The model aims to outperform sector indices [16]. - **Model Construction Process**: - Count the number of bullish and bearish signals for each sector's constituent stocks daily. - Compute the scissor difference as the difference between bullish and bearish signals. - If both counts are zero, the scissor difference is set to zero. - Construct a timing strategy based on the scissor difference ratio [16]. - **Model Evaluation**: The model historically outperformed all sector indices, demonstrating excellent backtesting performance [16]. --- Model Backtesting Results 1. Heston Model - **Implied Volatility Results**: - SSE 50: 11.85% (down 0.88% WoW) - SSE 500: 14.35% (down 1.59% WoW) - CSI 1000: 18.06% (down 0.42% WoW) - CSI 300: 12.64% (down 0.73% WoW) [10] 2. Multi-Sector Timing Model - **Sector Outperformance**: The model outperformed all sector indices, achieving a 100% success rate in backtesting [16]. --- Quantitative Factors and Construction 1. Factor Name: Shape-Based Timing Signals - **Factor Construction Idea**: Shape-based signals are derived from historical K-line patterns, including bullish patterns (e.g., "Golden Needle Bottom," "Rocket Launch," "Manjianghong") and bearish patterns (e.g., "Hanging Line," "Paradise Line," "Dark Cloud Cover"). These patterns indicate potential price reversals [24]. - **Factor Construction Process**: - Identify specific K-line patterns based on predefined criteria. - Evaluate the historical performance of these patterns in predicting price movements. - Use the patterns to generate timing signals for individual stocks [24]. - **Factor Evaluation**: Bullish patterns like "Golden Needle Bottom" and "Rocket Launch" demonstrated strong positive predictive power [24]. --- Factor Backtesting Results 1. Shape-Based Timing Signals - **Signal Statistics**: - Positive signals: 2,699 occurrences, with an average future high-point success rate of 28.25% - Negative signals: 3,525 occurrences, with an average future low-point success rate of 71.88% [13] 2. Sector Timing Signals - **Bullish Sectors**: Home Appliances, Comprehensive, Communication, Textile & Apparel, Consumer Services, Transportation, Petrochemicals [19] 3. Stock-Specific Signals - **Consecutive Bullish Signals**: - 5-day signals: Stocks like Kailong Co. and Shipu Testing [21] - 4-day signals: Stocks like Jiangnan Chemical, Beijing-Shanghai High-Speed Railway, and Nandu Property [22][23] - **Special Bullish Patterns**: - Stocks like Retired Longyu ("Arrow on the String") and Suotong Development ("Manjianghong") [25][26] 4. Broker Gold Stock Signals - **Highlighted Stocks**: BYD, Feilihua, Wancheng Group, Sichuan Road & Bridge, Wolong Electric Drive, Lansheng Co., PetroChina, Dongpeng Beverage [29][33]

证券代码：603003 证券简称：退市龙宇 公告编号：2025-059 上海龙宇数据股份有限公司 关于股份回购进展公告 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： 2025 年 6 月 6 日，公司召开第六届董事会第九次会议，以 3 票同意、0 票反 对、0 票弃权审议通过了《关于第六期以集中竞价交易方式回购公司股份的议案》， 同意公司为维护公司价值及股东权益所必需，在退市整理期内（2025 年 6 月 10 日 至 2025 年 6 月 30 日）进行股份回购，回购金额不低于人民币 5,000 万元（含） 且不超过人民币 10,000 万元（含）。具体内容详见公司于 2025 年 6 月 7 日在上海 证券交易所网站（www.sse.com.cn）披露的《关于第六期以集中竞价方式回购股 份的回购报告书》（公告编号：2025-043）。 二、回购股份的进展情况 | 回购方案首次披露日 | 2025/6/7 | | | | | | | --- | --- | --- | --- | --- | --- | - ...

证券代码：603003 证券简称：*ST 龙宇 公告编号：2025-055 上海龙宇数据股份有限公司 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： 始日为 2025 年 6 月 10 日，预计最后交易日期为 2025 年 6 月 30 日。 交易日，剩余 10 个交易日，交易期满将被终止上市。敬请投资者审慎投资、 注意风险。 牌，公司股票终止上市。敬请投资者审慎投资、注意风险。 时了结股票质押式回购、约定购回、融资融券、转融通、沪股通等业务。 到期的司法冻结业务，建议有权机关在股票终止上市日前通过原协助执行渠 道提前办理续冻手续。 （含）且不超过人民币 10,000 万元（含），回购股份价格不超过人民币 4.85 元/股（含）。因公司回购金额有限，存在短期内完成回购的情形。 公司股票进入退市整理期的起始日为 2025 年 6 月 10 日，退市整理期为 15 个交易日，如不考虑全天停牌因素，预计最后交易日期为 2025 年 6 月 30 日。公 司股票在退市整理期内全天停牌的，停牌期间不计入退市整理期，预计的 ...

证券代码：603003 证券简称：退市龙宇 公告编号：2025-058 上海龙宇数据股份有限公司 2025 年 6 月 6 日，公司召开第六届董事会第九次会议，以 3 票同意、0 票反 对、0 票弃权审议通过了《关于第六期以集中竞价交易方式回购公司股份的议案》， 同意公司为维护公司价值及股东权益所必需，在退市整理期内（2025 年 6 月 10 日 至 2025 年 6 月 30 日）进行股份回购，回购金额不低于人民币 5,000 万元（含） 且不超过人民币 10,000 万元（含）。具体内容详见公司于 2025 年 6 月 7 日在上海 证券交易所网站（www.sse.com.cn）披露的《关于第六期以集中竞价方式回购股 份的回购报告书》（公告编号：2025-043）。 | 回购方案首次披露日 | 2025/6/7 | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | 回购方案实施期限 | 年 月 2025 6 | 6 | 10 | 日~2025 | 年 | 月 | 日 30 | | 预计回购金额 | 5,000万元(含)~10, ...

上海龙宇数据股份有限公司 2024 年年度股东大会 会 议 资 料 二○二五年六月三十日 | 2024 | 年年度股东大会须知 1 | | | | --- | --- | --- | --- | | 2024 | 年年度股东大会现场会议议程 | 2 | | | 2024 | 年年度股东大会表决办法 3 | | | | 议案 | 1：2024 年度董事会工作报告 | | 5 | | 议案 | 2：2024 年度监事会工作报告 | | 11 | | 议案 | 3：2024 年度财务决算报告 | | 15 | | 议案 | 4：2024 年年度报告全文及其摘要 | | 20 | | 议案 | 5：2024 年度利润分配预案 | | 22 | | 议案 | 6：关于 2025 年度日常关联交易预计的议案 | 23 | | | 议案 | 7：关于 2025 年度申请银行授信额度的议案 | 25 | | | 议案 | 8：关于 2025 年度提供担保的议案 | 26 | | | 议案 | 9：关于取消公司监事会暨修订《公司章程》及其附件的议案 | | 29 | | 议案 | 10：关于制定《关联交易管理制度》的议案 | ...

Group 1 - The core point of the article highlights that despite the significant decline in the stock price of delisted companies, the prominent private equity firm, Taide Sheng Fund, has not reduced its holdings in these stocks [1][3] - As of June 13, Taide Sheng Fund held a total of 20.85 million shares of delisted Haiyue, accounting for 4.46% of the total shares, with no change in the number of shares held compared to the end of the first quarter [1][3] - The fund also faced similar challenges with another delisted company, Longyu, holding 8.8 million shares, which represents 2.34% of the total shares as of June 6 [3] Group 2 - Taide Sheng Fund was established in 2006 with a registered capital of 10 million yuan and has a management scale ranging from 2 billion to 5 billion yuan [3][4] - The fund's actual controller, Wu Shaoqin, has a diverse background, transitioning from a teacher to various roles in the financial industry, including positions at several securities firms [4][5] - Wu Shaoqin became a shareholder of Taide Sheng Fund in July 2022, marking his entry into the private equity investment sector [5][6]

证券代码：603003 证券简称：退市龙宇 公告编号：2025-057 上海龙宇数据股份有限公司 关于股份回购进展公告 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： | 回购方案首次披露日 | 2025/6/7 | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | 回购方案实施期限 | 年 月 2025 6 6 | 10 | 日~2025 | 年 | 月 | 30 | 日 | | 预计回购金额 | 5,000万元(含)~10,000万元(含) | | | | | | | | 回购用途 | □减少注册资本 □用于员工持股计划或股权激励 | | | | | | | | | □用于转换公司可转债 | | | | | | | | | √为维护公司价值及股东权益 | | | | | | | | 累计已回购股数 | 1,990.64万股 | | | | | | | | 累计已回购股数占总股本比例 | 5.29% | | | | | | | | ...