Core Viewpoint - The company received an inquiry letter from the Shanghai Stock Exchange regarding the acquisition of a 40% stake in Huaxin Environmental Protection by its subsidiary, indicating regulatory scrutiny on the transaction [1] Group 1 - The company is taking the inquiry seriously and is organizing relevant departments to address the questions raised in the inquiry letter [1] - The company has applied for an extension of no more than 5 trading days to respond to the inquiry letter, ensuring the accuracy and completeness of the reply [1] - The company will fulfill its information disclosure obligations as required by regulations [1]

格隆汇9月3日丨德创环保(603177.SH)在投资者互动平台表示，我司的换热器未向数据中心公司进行销 售。 ...

Core Viewpoint - The environmental governance sector experienced a decline of 1.57% on September 3, with Dechuang Environmental leading the drop. The Shanghai Composite Index closed at 3813.56, down 1.16%, while the Shenzhen Component Index closed at 12472.0, down 0.65% [1]. Summary by Category Market Performance - The environmental governance sector saw a net outflow of 203 million yuan from main funds, while retail investors contributed a net inflow of 183 million yuan [1]. - The sector's individual stock performance varied, with Feima International leading with a 9.90% increase, closing at 4.22 yuan, and Dechuang Environmental experiencing the largest decline [1]. Individual Stock Highlights - Feima International (002210) closed at 4.22 yuan with a 9.90% increase and a trading volume of 5.7037 million shares, amounting to a transaction value of 2.313 billion yuan [1]. - Zhongzhi Holdings (603903) closed at 11.60 yuan, up 7.71%, with a trading volume of 241,200 shares and a transaction value of 275 million yuan [1]. - ST Kai (300899) saw a 3.63% increase, closing at 28.84 yuan, with a trading volume of 18,500 shares [1]. - Zhenghe Ecology (605069) closed at 10.88 yuan, up 2.84%, with a trading volume of 103,000 shares [1]. - Other notable stocks include Huakong Saige (000068) and Fulongma (603686), which saw increases of 2.68% and 1.89%, respectively [1].

New Stock Offerings - Fushun Special Steel (600399) has a tender offer period from August 12, 2025, to September 10, 2025[1] - ST Tianmao (000627) has a cash option declaration period from September 15, 2025, to September 19, 2025[1] - Tianpu Co., Ltd. (605255) announced significant trading activity on September 3, 2025[1] Market Volatility - Kaipu Cloud (688228) reported severe abnormal fluctuations on August 30, 2025[1] - Xinhua Jin (600735) experienced significant trading activity on August 30, 2025[1] - ST Chuntian (600381) had notable trading activity on September 3, 2025[1] Other Notable Announcements - ST Er Ya (600107) reported trading activity on September 3, 2025[1] - Shanghai Electric Power (600021) had significant trading activity on September 3, 2025[1] - ST Gao Hong (000851) reported trading activity on September 3, 2025[1]

New Stock Issuance - Fushun Special Steel (600399) has a tender offer period from August 12, 2025, to September 10, 2025[1] - KaiPu Cloud (688228) reported severe abnormal fluctuations on August 30, 2025[1] - Xinhua Jin (600735) announced on August 30, 2025, regarding its stock activities[1] Trading Alerts - JiShi Media (601929) issued a notice on August 30, 2025, regarding trading activities[1] - XianDao Intelligent (300450) and DeChuang Environmental (603177) both reported updates on September 2, 2025[1] - Huahai Pharmaceutical (600521) and *ST HuiCheng (002168) also provided trading updates on September 2, 2025[1] Abnormal Fluctuations - Several companies, including Changjiang Materials (001296) and WanBangDe (002082), reported abnormal fluctuations on August 28, 2025[3] - Longjing Technology (301396) and Jinli Yongci (300748) also noted significant trading irregularities on August 27, 2025[3] - The report includes multiple links to announcements regarding trading activities and fluctuations for various companies[3]

| 买/ | 会员营业部名称 | 买入金额（万 | 卖出金额（万 | | --- | --- | --- | --- | | 卖 | | 元） | 元） | | 买一 | 国信证券股份有限公司浙江互联网分公司 | 1530.38 | | | 买二 | 高盛(中国)证券有限责任公司上海浦东新区世纪大道证券 营业部 | 879.12 | | | 买三 | 东方财富证券股份有限公司拉萨金融城南环路证券营业部 | 859.74 | | | 买四 | 中信证券股份有限公司浙江分公司 | 851.19 | | | 买五 | 华鑫证券有限责任公司上海红宝石路证券营业部 | 803.92 | | | 卖一 | 信达证券股份有限公司温州瓯江路证券营业部 | | 2439.62 | | 卖二 | 财通证券股份有限公司杭州上塘路证券营业部 | | 2280.58 | | 卖三 | 华鑫证券有限责任公司深圳益田路证券营业部 | | 2124.06 | | 卖四 | 中信证券股份有限公司杭州凤起路证券营业部 | | 1942.90 | | 卖五 | 机构专用 | | 1792.23 | 德创环保(603177)今日下跌9.09%，全天 ...

Market Overview - On September 2, the environmental governance sector declined by 0.48%, with Dechuan Environmental leading the drop [1] - The Shanghai Composite Index closed at 3858.13, down 0.45%, while the Shenzhen Component Index closed at 12553.84, down 2.14% [1] Stock Performance - Shanghai Xidang (603200) saw a significant increase of 7.11%, closing at 87.05 with a trading volume of 218,400 shares and a transaction value of 1.904 billion [1] - Zhongsheng Gaoke (002778) rose by 5.23%, closing at 20.94 with a trading volume of 161,200 shares and a transaction value of 333 million [1] - Yuhua Tian (300815) increased by 4.92%, closing at 29.02 with a trading volume of 445,000 shares [1] - Dechuan Environmental (603177) experienced a notable decline of 9.09%, closing at 14.50 with a trading volume of 591,400 shares and a transaction value of 874 million [2] Capital Flow - The environmental governance sector saw a net outflow of 929 million from institutional investors, while retail investors had a net inflow of 828 million [2] - The top stocks by net inflow from institutional investors included Yuhua Tian (300815) with 90.32 million and Zhongsheng Gaoke (002778) with 27.69 million [3] - Conversely, significant outflows were observed in stocks like Yuhua Tian and Zhongsheng Gaoke from retail investors, indicating a shift in investor sentiment [3]

（文章来源：证券时报网） 德创环保上演"天地板"行情，股价从涨停到跌停，截至10:16，该股成交量3963.75万股，成交额5.85亿 元，振幅达20.00%，换手率19.41%，跌停板封单金额为130.60万元。（数据宝） ...

Group 1: Industrial Machinery and Solid-State Battery Concepts - The industrial machinery concept saw a significant rise, with companies like Huadong CNC and Bojie Co. hitting the daily limit up, following the release of a high-quality standard system construction plan by the National Standardization Administration and the Ministry of Industry and Information Technology, aiming for a comprehensive standard system by 2030 [4] - The solid-state battery concept also showed strength, with companies like Saiwu Technology hitting the daily limit up and Shanghai Xiba rising over 5%, continuing to set historical highs [5] Group 2: Precious Metals Market - The price of gold surpassed $3,500 per ounce, marking a historical high, with a year-to-date increase of over 33% [7] - Silver and other precious metal stocks also experienced gains, with companies like Hunan Silver and Western Gold rising over 5%, supported by strong performance in the gold mining sector, where companies reported significant revenue growth [8] - Shandong Gold announced a placement agreement to issue up to 136.5 million shares at a price of HKD 28.58 per share, with expected proceeds of approximately HKD 39.01 billion, aimed at debt repayment [9] Group 3: Stock Market Overview - On September 2, the three major indices opened mixed, with the Shanghai Composite Index up 0.04% and the Shenzhen Component and ChiNext Index down 0.09% and 0.18%, respectively [2] - The A-share margin financing balance reached a historical high of CNY 2.3 trillion, surpassing the previous peak in June 2015, with an increase of CNY 35.642 billion from the previous day [2]

Market Overview - The A-share market showed mixed performance on September 2, with the ChiNext index experiencing a notable rise [1] - The Shanghai Composite Index closed at 3878.22, up by 0.07%, while the Shenzhen Component Index fell by 0.05% to 12822.45 [2] - The Hong Kong market saw all three major indices decline, with the Hang Seng Index down by 0.35% to 25528.40 [4] Sector Performance - Precious metals stocks led the gains, with significant increases in industrial mother machine stocks, while sectors like internet and diversified finance faced adjustments [2][10] - The industrial mother machine sector saw notable gains, with companies like Huadong CNC and Ningbo Jingda hitting the daily limit [10] - Precious metals stocks also surged, with West Mining hitting the daily limit and other companies like Hunan Silver and Shengda Resources following suit [13] Company Specifics - Dechong Environmental experienced extreme volatility, opening at a limit-up price of 17.55 CNY, then plummeting to a limit-down price of 14.36 CNY, showcasing a "heaven and earth board" phenomenon [6][8] - The company reported a market capitalization of 2.973 billion CNY, with a P/E ratio of 149.25 and a P/B ratio of 7.70 [7] - The stock's trading volume reached 138,300 hands, indicating significant market activity [7] Regulatory and Economic Context - The National Standardization Administration and the Ministry of Industry and Information Technology released a plan for the high-quality standard system for industrial mother machines, aiming for a comprehensive standard system by 2030 [11] - The current gold price has reached a historical high, exceeding 3500 USD per ounce, driven by expectations of interest rate cuts by the Federal Reserve [12][15]