New Stock Offerings - Ji Chuan Pharmaceutical (600566) is in the offer period from June 18, 2025, to July 17, 2025[1] - Zhong Cheng Tui (300208) has 5 trading days remaining until the last trading day[1] - Tui Shi Jin Gang (600190) also has 5 trading days remaining until the last trading day[1] Delisting and Trading Alerts - Hengli Tui (000622) has 2 trading days remaining until the last trading day[1] - Tui Shi Jiu You (600462) has only 1 trading day remaining until the last trading day[1] - ST Zi Tian (300280) has an announcement dated July 10, 2025, regarding trading status[1] Abnormal Fluctuations - Changcheng Military Industry (601606) reported severe abnormal fluctuations on July 2, 2025[1] - An abnormal fluctuation was noted for Wei Xin Kang (603676) on July 5, 2025[2] - Multiple stocks, including ST Wei Ming (002581), reported abnormal fluctuations on July 11, 2025[2]

Core Viewpoint - The company aims to conduct futures hedging transactions to mitigate potential risks from fluctuations in raw material and product prices, thereby enhancing operational management and risk resistance capabilities [1][2][3] Group 1: Transaction Overview - The purpose of the transaction is to reduce the impact of raw material and product price volatility on the company's operations, utilizing futures hedging to control price risks [2][3] - The maximum margin amount at any point in time will not exceed RMB 1.3 billion, which can be used in a rolling manner during the investment period [2][3] - The funding for the transactions will come from the company's own funds, without involving raised capital [2] - The types of commodities for the hedging business will be limited to those related to the company's operations, including but not limited to industrial silicon, polysilicon, aluminum, copper, tin, lead, and silver [2][3] Group 2: Approval Process - The company held meetings on July 7 and July 10, 2025, where the board of directors approved the proposal for futures hedging transactions, which does not require shareholder meeting approval according to relevant regulations [3] Group 3: Risk Analysis and Control Measures - The company acknowledges that while the primary goal of the hedging business is to control price volatility risks, there are inherent risks such as market, liquidity, and operational risks [4] - To mitigate these risks, the company has established strict internal controls, including prohibiting speculative trading, ensuring compliance with approved limits, and implementing risk management procedures [4] Group 4: Impact on the Company - The hedging activities are expected to effectively manage production costs, control operational risks, and improve management levels, aligning with the interests of the company and its shareholders [4][6]

弘元绿色能源股份有限公司 关于开展期货套期保值业务的可行性分析报告 任一时点占用的保证金最高额度不超过人民币 13 亿元，上述额度在投资期 限内可循环滚动使用。 （三）资金来源 公司及子公司的自有资金，不涉及募集资金。 一、开展套期保值业务的基本情况 （一）交易目的 为了降低原材料及产品价格波动对弘元绿色能源股份有限公司（以下简称 "公司"）生产经营造成的潜在风险，公司拟开展期货套期保值交易，充分利用 期货的套期保值功能，减少因原材料及产品价格波动对公司经营业绩的影响，提 升公司生产经营管理水平和抵御风险能力。 公司利用期货的套期保值功能进行价格风险控制，坚持套期保值，不进行以 投机为目的的期货交易，公司开展套期保值业务具有必要性和可行性。 （二）交易金额 （四）交易品种及方式 公司及子公司拟开展的原材料期货套期保值业务的品种只限于与公司生产 经营相关的大宗商品材料及产品（包括但不限于工业硅、多晶硅、铝、铜、锡、 铅、银等），严禁进行以逐利为目的的任何投机交易。 （五）交易期限 授权期限自董事会审议通过之日起 12 个月内，并授权公司经营层在上述审 议批准的额度范围内根据业务情况、实际需求开展期货套期保值业务 ...

证券代码：603185 证券简称：弘元绿能 公告编号：2025-035 弘元绿色能源股份有限公司 关于开展期货套期保值业务的公告 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个别及连带责任。 重要内容提示： ●交易目的：为了降低原材料及产品价格波动对弘元绿色能源股份有限公司 （以下简称"公司"）生产经营造成的潜在风险，公司拟开展期货套期保值交易， 充分利用期货的套期保值功能，减少因原材料及产品价格波动对公司经营业绩的 影响，提升公司生产经营管理水平和抵御风险能力。 ●交易品种及方式：公司及子公司拟开展的原材料期货套期保值业务的品种 仅限于与公司生产经营相关的大宗商品材料及产品（包括但不限于工业硅、多晶 硅、铝、铜、锡、铅、银等）。 ●交易金额：任一时点占用的保证金最高额度不超过人民币 13 亿元，上述 额度在投资期限内可循环滚动使用。 ●履行的审议程序：公司于 2025 年 7 月 7 日、2025 年 7 月 10 日分别召开第 四届董事会审计委员会第十二次会议、第四届董事会第三十次会议，审议通过了 《关于开展期货套期保值业务的议案 ...

证券代码：603185 证券简称：弘元绿能 公告编号：2025-034 弘元绿色能源股份有限公司 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个别及连带责任。 重要内容提示: 弘元绿色能源股份有限公司（以下简称"公司"或"本公司"）A 股股 票于 2025 年 7 月 8 日、7 月 9 日、7 月 10 日连续三个交易日内日收盘价格涨幅 偏离值累计超过 20%，构成《上海证券交易所交易规则》规定的股票交易异常波 动情形。 公司股票于 2025 年 7 月 8 日、7 月 9 日、7 月 10 日连续三个交易日内日收 盘价格涨幅偏离值累计超过 20%，根据《上海证券交易所交易规则》有关规定， 属于股票交易异常波动情形。 二、公司关注并核实的相关情况 针对公司股票交易异常波动，公司对有关事项进行了核查，并书面征询了公 司控股股东及实际控制人，现将有关情况说明如下： 经公司自查并向控股股东及实际控制人核实，不存在应披露而未披露的 重大事项。 经营业绩风险： 2025 年第一季度，公司实现营业收入 165,677.76 ...

控股股东及实际控制人关于《弘元绿色能源股份有限公司 控股股东及实际控制人： 杨建良 杭 虹 杨 昊 李晓东 董锡兴 2025 年 7 月 10 日 公司股票近三个交易日收盘价格涨幅偏离值累计达到 20%以上，作为公司的 控股股东和实际控制人，目前不存在涉及弘元绿能应披露而未披露的影响股价异 动波动的重大信息；不存在可能导致弘元绿能股权发生变化的事项；股票异常波 动期间，控股股东和实际控制人未发生买卖公司股票的行动；未筹划重大资产重 组、股份发行、重大交易类事项、业务重组、股份回购、股权激励、破产重整、 重大业务合作、引进战略投资者等重大事项。 特此回函。 (以下无正文) （本页无正文，为《控股股东及实际控制人关于〈弘元绿色能源股份有限公 司股票交易异常波动问询函〉的回复》之签署页） 股票交易异常波动问询函》的回复 弘元绿色能源股份有限公司： 2025 年 7 月 10 日收到贵司发来的《弘元绿色能源股份有限公司股票交易异 常波动问询函》，经认真自查，现回复如下： ...

Group 1 - Hongyuan Green Energy's stock price increased by 10.03% and reached the top of the trading list, with a cumulative deviation of 20% over three consecutive trading days, indicating significant market interest [1] - The top five buying entities collectively purchased 463 million yuan, while the top five selling entities sold 375 million yuan, resulting in a net inflow of approximately 88 million yuan [2] - Major buyers included the Shanghai Stock Connect special account, institutional special accounts, and GF Securities' Beijing Shanyuan Street branch, with purchases of 177.79 million yuan, 106.10 million yuan, and 88.65 million yuan respectively [2][3] Group 2 - The largest selling entity was the Shanghai Stock Connect special account, which sold 183.87 million yuan, followed by Guotai Junan Securities' headquarters and GF Securities' Beijing Shanyuan Street branch, with sales of 73.37 million yuan and 44.26 million yuan respectively [2][3] - The data indicates a strong interest from institutional investors, as evidenced by the significant buying activity from institutional special accounts [2][3]

Group 1 - The silicon energy concept sector rose by 3.39%, leading the market with 36 stocks increasing, including notable gains from companies like Tuojin New Energy and Jingyuntong, which hit the daily limit, and Silicon Treasure Technology, which rose by 18.29% [1][2] - The sector saw a net inflow of 1.28 billion yuan from main funds, with 28 stocks receiving net inflows, and 6 stocks exceeding 100 million yuan in net inflows, led by Jingao Technology with 485 million yuan [2][3] - The top stocks by net inflow ratio included Jingyuntong at 54.51%, Chenguang New Materials at 50.01%, and Huaguang Huaneng at 21.83% [3] Group 2 - The top gainers in the silicon energy sector included Jingao Technology (9.96%), Silicon Treasure Technology (18.29%), and Hongyuan Green Energy (10.03%), while the biggest losers were Huamin Co. (-2.65%), Dawi Co. (-1.95%), and Oujing Technology (-1.35%) [4][5] - The trading volume and turnover rates for leading stocks were significant, with Silicon Treasure Technology achieving a turnover rate of 29.51% and Jingao Technology at 6.48% [3][4] - The overall market performance showed a mixed trend, with other sectors like military restructuring and electronic ID experiencing declines of -3.20% and -1.63%, respectively [2]

Core Viewpoint - The A-share market continues to rise, with the photovoltaic sector showing strong performance, particularly the leading photovoltaic ETF (516290), which has seen significant capital inflow and price increases [1][3]. Market Performance - The photovoltaic sector index (931151) increased by 2.16%, with key stocks such as GCL-Poly (002506) hitting the daily limit, JA Solar (002459) rising by 8.75%, and Hongyuan Green Energy (603185) up by 7.69% [3]. - The leading photovoltaic ETF (516290) has experienced a net inflow of 12.17 million yuan over the past 10 trading days, with 6 days of net capital inflow [1]. Stock Performance - Notable stock performances include: - Sunshine Power (300274) up by 4.84% with a trading volume of 497.07 million yuan [4] - JA Solar (002459) up by 8.85% with a trading volume of 1.394 billion yuan [4] - GCL-Poly (002506) hitting the daily limit [3]. Industry Trends - Recent price increases in silicon wafers, ranging from 8% to 11.7%, have been confirmed by multiple manufacturers, attributed to rising upstream silicon material costs [6]. - The photovoltaic industry is undergoing a "de-involution" phase, focusing on capacity consolidation and price regulation, with expectations for high-quality development driven by technological upgrades and market optimization [7]. Future Outlook - The current "de-involution" trend is seen as a catalyst for future price and profit improvements, with a focus on supply-side reforms and potential policy support [8]. - The photovoltaic sector is expected to experience a fundamental recovery, with positive sentiment anticipated as the market adjusts [8].

Core Viewpoint - The recent trend in the photovoltaic industry indicates a recovery in silicon material prices, driven by industry self-discipline and favorable policies [1][2][4] Group 1: Silicon Material Price Trends - The latest data from the China Nonferrous Metals Industry Association's Silicon Industry Branch shows that silicon material prices have continued to rise, with multi-crystalline silicon N-type raw materials and N-type granular silicon prices increasing by 6.92% and 6.27% respectively [1] - Multi-crystalline silicon prices have been significantly adjusted, with a price increase of 25% to 35%, bringing the price range to 45,000 to 50,000 yuan per ton [1] - The mainstream price for N-type dense materials has reached 39 yuan per kilogram, reflecting a 14.71% increase from the previous week [1] Group 2: Market Dynamics and Sentiment - The photovoltaic sector has seen a positive market response, with several companies' stock prices reaching new highs following a recent industry meeting that addressed low-price competition [2] - Analysts express optimism regarding policy-driven structural optimization and market environment improvements within the industry [2] - Although new orders are limited, the execution of previously signed orders has strengthened, indicating a stabilization in the silicon material market [2][3] Group 3: Supply and Demand Conditions - The supply-demand situation for silicon materials has shown signs of improvement, with June's domestic multi-crystalline silicon production at approximately 102,000 tons, matching demand without new inventory accumulation [3] - The total domestic production for the first half of the year was about 596,000 tons, a significant year-on-year decrease of 44.1% [3] - The forecast for global multi-crystalline silicon demand in 2025 is around 1.4 million tons, with domestic demand expected to be approximately 1.3 million tons [3] Group 4: Industry Outlook - The current policies are focused on market regulation and resource concentration, which may lead to the faster elimination of high-cost production capacities [3] - The industry is expected to undergo a structural transformation towards refined management, with a significant improvement in supply-demand dynamics anticipated post-2026 [3] - The ongoing "anti-involution" movement serves as a test of comprehensive cost strength among companies, with those facing long-term inventory accumulation and cash flow issues at risk of production halts [3][4]