"一、同意你公司向苏州中坤投资有限公司发行343,513,041股股份、向恒能 投资（大连）有限公司发行131,338,490股股份、向苏州恒能供应链管理有限公司 发行131,338,490股股份、向陈建华发行131,338,490股股份购买相关资产的注册申 请。 二、同意你公司发行股份募集配套资金不超过40亿元的注册申请。 三、你公司本次发行股份购买资产并募集配套资金应当严格按照报送上海证 券交易所的有关申请文件进行。 证券代码：603268 证券简称：*ST松发 公告编号：2025临-042 广东松发陶瓷股份有限公司 关于重大资产置换及发行股份购买资产并募集配套资金暨 关联交易事项获得中国证监会同意注册批复的公告 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法律责任。 广东松发陶瓷股份有限公司（以下简称"公司"）拟以重大资产置换及发行股 份购买资产的方式购买苏州中坤投资有限公司、苏州恒能供应链管理有限公司、 恒能投资（大连）有限公司及陈建华持有的恒力重工集团有限公司 100%股权， 并向不超过 35 名特定投资者发行股份募集配套资 ...

智通财经APP讯，*ST松发(603268.SH)公告，公司拟以重大资产置换及发行股份购买资产的方式购买苏 州中坤投资有限公司、苏州恒能供应链管理有限公司、恒能投资(大连)有限公司及陈建华持有的恒力重 工集团有限公司100%股权，并向不超过35名特定投资者发行股份募集配套资金。公司于近日收到中国 证券监督管理委员会出具的《关于同意广东松发陶瓷股份有限公司发行股份购买资产并募集配套资金注 册的批复》(证监许可〔2025〕1032号)。批复文件的主要内容如下： "一、同意你公司向苏州中坤投资有限公司发行343,513,041股股份、向恒能投资(大连)有限公司发行 131,338,490股股份、向苏州恒能供应链管理有限公司发行131,338,490股股份、向陈建华发行131,338,490 股股份购买相关资产的注册申请。二、同意你公司发行股份募集配套资金不超过40亿元的注册申请。 三、你公司本次发行股份购买资产并募集配套资金应当严格按照报送上海证券交易所的有关申请文件进 行。四、你公司应当按照有关规定及时履行信息披露义务。五、你公司应当按照有关规定办理本次发行 股份的相关手续。六、本批复自下发之日起12个月内有效。 ...

Group 1: New Stock Offerings - ST Xinchao (600777) has a tender offer period from April 23, 2025, to May 22, 2025[1] - Puli Tui (300630) has 7 trading days remaining until the last trading day[1] - ST Zhongcheng (300208) reported severe abnormal fluctuations[1] Group 2: Trading Alerts - Jintai (300225) and other stocks are under observation for trading alerts due to abnormal fluctuations[1] - ST Yida (600608) and ST Huke (600608) are also flagged for trading alerts[1] - Multiple stocks including ST Shengda (002259) and ST Yushun (002289) are under scrutiny for trading activities[1] Group 3: Recent Announcements - Guofang Group (601086) and other companies have made recent announcements regarding their stock activities[1] - A total of 7 trading days remain for several stocks approaching their last trading day[1] - Various companies including ST Huada (603580) and ST Aiai (603580) have made recent disclosures[1]

Core Viewpoint - The A-share market is accelerating the elimination of underperforming companies, with over 140 listed companies facing delisting risk warnings this year, leading to significant stock price declines for many of these companies and the funds that invested in them [1][3]. Group 1: Market Dynamics - More than 140 listed companies have been subjected to delisting risk warnings, with 27 and 43 companies receiving such warnings on April 30 and May 6, respectively [3]. - The stock prices of most companies that received delisting risk warnings experienced sharp declines following the announcements [3]. - The "shell value" of listed companies has significantly decreased due to the strict enforcement of delisting regulations [8]. Group 2: Fund Holdings and Reactions - The interest of public funds in ST stocks has significantly decreased compared to the past, although some companies still attract public fund interest when they have the potential to remove the delisting risk [2][8]. - Among the 140 companies facing delisting risks, only 19 have public fund holdings, primarily in passive funds like ETFs [5]. - Specific companies like *ST Tianze and *ST Songfa have seen significant public fund holdings, with the former having a fund holding ratio of approximately 5.57% and the latter at 7.09% as of the end of Q1 this year [4]. Group 3: Investment Strategies - The process of selecting stocks for public funds involves multiple layers of screening, with a focus on fundamental quality and liquidity [5][6]. - Fund managers must submit research reports and obtain approval from the investment decision committee before including stocks in the core portfolio [6][8]. - The handling of ST stocks by index funds varies, with some funds choosing to remove them from their portfolios while others may retain them temporarily [7]. Group 4: Potential Opportunities - Despite the decline in interest in ST stocks, some companies like ST Huayuan and *ST Chengchang have shown potential for recovery, attracting interest from various public funds [8]. - The investment decision-making process for these stocks remains complex, requiring thorough research and committee approval, especially under the current regulatory environment [8].

广东松发陶瓷股份有限公司 2024 年年度股东大会会议资料 广东松发陶瓷股份有限公司 2024 年年度股东大会会议资料 证券代码：603268 二〇二五年五月 广东松发陶瓷股份有限公司 1 广东松发陶瓷股份有限公司 2024 年年度股东大会会议资料 2024 年年度股东大会会议议程 会议召开时间：2025 年 5 月 19 日 下午 14:00 会议召开地点：广东省潮州市枫溪镇如意路工业区 C2-2 号楼四楼会议室 会议召集人：广东松发陶瓷股份有限公司董事会 四、推举代表参加计票和监票 五、宣读和审议各项议案 2 会议主持人：董事长卢堃 会议议程： 三、介绍公司董事、监事、高级管理人员、见证律师及其他人士的出席情况 一、主持人宣布会议开始 二、宣布现场参会人数及各股东所代表股份数 1. 松发股份 2024 年年度报告及其摘要 2. 松发股份 2024 年度董事会工作报告 3. 松发股份 2024 年度监事会工作报告 4. 松发股份 2024 年度财务决算报告 5. 松发股份 2024 年度利润分配预案 6. 关于 2025 年度董事、高级管理人员薪酬的议案 7. 关于 2025 年度监事薪酬的议案 8. 关于 ...

证券代码：603268 证券简称：*ST松发 公告编号：2025临-041 针对公司股票交易严重异常波动，公司就相关事项进行了核实，并书面征询 了本公司控股股东、实际控制人，现就有关情况说明如下： （一）公司生产经营情况 广东松发陶瓷股份有限公司 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。 重要内容提示： ● 广东松发陶瓷股份有限公司（以下简称"公司"）股票于 2025 年 4 月 29 日、4 月 30 日、5 月 6 日连续 3 个交易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》的相关规定，属于股票交易异常波动情形。 ● 经公司自查并向控股股东、实际控制人书面征询确认，截至本公告披露 日，除公司已披露事项外，不存在应当披露而未披露的重大信息。 一、股票交易严重异常波动的具体情况 公司股票于 2025 年 4 月 29 日、4 月 30 日、5 月 6 日连续 3 个交易日收盘价 格涨幅偏离值累计超过 12%，根据《上海证券交易所交易规则》的相关规定，属 于股票交易异常波动 ...

关于广东松发陶瓷股份有限公司 股票交易异常波动征询函的回函 广东松发陶瓷股份有限公司董事会: 你公司于 2025年5月6日发来的《关于广东松发陶瓷股份有限公 二、本公司在本次股票异常波动期间没有买卖松发股份股票。 特此复函。 司股票交易异常波动的征询函》已收悉,经自查,现回复如下: 一、本公司作为松发股份的控股股东,截至本回复签署之日,不 存在涉及松发股份应披露而未披露导致股价异常波动的事项,包括但 不限于筹划并购重组、股份发行、债务重组、收购、业务重组、资产 剥离、资产注入、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。 才有限公司 3206840 关于广东松发陶瓷股份有限公司 股票交易异常波动征询函的回函 广东松发陶瓷股份有限公司董事会: 你公司于 2025年5月6日发来的《关于广东松发陶瓷股份有限公 不限于筹划并购重组、股份发行、债务重组、收购、业务重组、资产 剥离、资产注入、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。 二、本人在本次股票异常波动期间没有买卖松发股份股票。 特此复函。 实际控制人: 司股票交易异常波动的征询函》已收悉,经自查,现回复 ...

Financial Performance - In Q1 2025, the company reported total revenue of 57.46 million yuan, an increase of 23.17% year-on-year [1][3] - The net profit attributable to shareholders was a loss of 20.87 million yuan, compared to a loss of 10.56 million yuan in the same period last year [1][3] - The net profit after deducting non-recurring gains and losses was a loss of 21.50 million yuan, compared to a loss of 11.06 million yuan in the previous year [1][3] - The net cash flow from operating activities was -12.93 million yuan, worsening from -4.20 million yuan in the same period last year [1][3] - Basic earnings per share were -0.17 yuan, compared to -0.05 yuan in the previous year [1][3] Cash Flow and Assets - As of the end of Q1 2025, the company had a net cash flow from operating activities of -12.93 million yuan, a decrease of 872.49 thousand yuan year-on-year [26] - The company’s total assets were 557.03 million yuan, down from 571.78 million yuan at the end of the previous year [3] - The company’s cash and cash equivalents increased by 37.02% compared to the end of the previous year [36] Shareholder Structure - The top ten circulating shareholders as of the end of Q1 2025 included new shareholders such as the National Social Security Fund and others, replacing previous shareholders [47] - The largest shareholder, Hengli Group Co., Ltd., held 30.14% of the total shares, remaining unchanged [48] Valuation Metrics - As of April 29, 2025, the company's price-to-earnings ratio (TTM) was approximately -50.51 times, and the price-to-book ratio (LF) was about -226.9 times [3][50] - The price-to-sales ratio (TTM) was approximately 15.38 times [3][51]

Financial Performance - The company's operating revenue for Q1 2025 was CNY 57,460,611.30, representing a 23.17% increase compared to CNY 46,652,693.88 in the same period last year[4] - The net profit attributable to shareholders was a loss of CNY 20,868,618.36, worsening from a loss of CNY 10,563,995.53 year-on-year[4] - The net cash flow from operating activities was negative at CNY -12,927,498.53, compared to CNY -4,202,615.02 in the previous year[4] - The company's operating revenue for Q1 2025 was CNY 57,460,611.30, an increase from CNY 46,652,693.88 in Q1 2024, representing a growth of approximately 23.9%[19] - The net profit for Q1 2025 was a loss of CNY 20,868,618.36, compared to a loss of CNY 10,563,995.53 in Q1 2024, indicating a deterioration in profitability[20] - The cash flow from operating activities for Q1 2025 was a net outflow of CNY 12,927,498.53, worsening from a net outflow of CNY 4,202,615.02 in Q1 2024[21] - The company’s operating profit for Q1 2025 was a loss of CNY 20,316,424.97, compared to a loss of CNY 9,102,868.26 in Q1 2024, indicating a decline in operational efficiency[19] Assets and Liabilities - The total assets at the end of the reporting period were CNY 557,025,680.69, down 2.58% from CNY 571,777,640.54 at the end of the previous year[5] - The company's current assets totaled RMB 305,954,079.15, down from RMB 316,384,556.36 in the previous period[14] - The total liabilities stood at RMB 576,381,320.53, slightly up from RMB 570,264,662.02[15] - The non-current liabilities decreased to RMB 24,465,453.05 from RMB 28,011,121.07, a reduction of approximately 12.2%[15] - The company's equity position showed a significant decline, with total equity at -RMB 19,355,639.84 compared to RMB 1,512,978.52 previously[15] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 6,355[8] - The largest shareholder, Hengli Group Co., Ltd., held 30.14% of the shares, totaling 37,428,000 shares[9] - The company has not reported any significant changes in shareholder structure or related party transactions during the reporting period[11] Earnings and Cash Flow - The basic and diluted earnings per share were both CNY -0.17, compared to CNY -0.09 in the same period last year[4] - The company reported a weighted average return on equity of -233.92%, a decline from -15.11% in the previous year[4] - The total cash inflow from financing activities in Q1 2025 was CNY 61,820,000.00, a decrease from CNY 78,530,000.00 in Q1 2024[21] - The company incurred financial expenses of CNY 5,765,439.60 in Q1 2025, compared to CNY 4,482,736.44 in Q1 2024, marking an increase of approximately 28.6%[19] Other Financial Metrics - Non-recurring gains and losses amounted to CNY 628,770.46 after tax, with a government subsidy of CNY 761,583.97 included[7] - The company reported a credit impairment loss of CNY 846,908.11 in Q1 2025, contrasting with a gain of CNY 1,660,148.40 in Q1 2024, reflecting a significant change in asset quality[19] - The company reported a significant increase in sales cash receipts, totaling CNY 83,296,691.76 in Q1 2025, compared to CNY 58,664,022.14 in Q1 2024, reflecting a growth of approximately 41.9%[21] - The total cash and cash equivalents at the end of Q1 2025 stood at CNY 14,454,750.19, down from CNY 26,023,056.38 at the end of Q1 2024[21] - Accounts receivable decreased to RMB 101,369,021.97 from RMB 121,838,549.07, indicating a reduction of about 16.8%[13] - Inventory levels remained relatively stable, with a slight decrease to RMB 162,303,743.28 from RMB 163,042,764.84[14] - The company reported a short-term loan of RMB 149,211,030.82, consistent with the previous period[15] - The cash and cash equivalents increased to RMB 14,454,755.54 from RMB 10,549,258.05, reflecting a growth of approximately 37.5%[13]

Financial Performance - The company reported a basic earnings per share of -0.1700 yuan for Q1 2025, a decrease of 88.89% compared to -0.0900 yuan in Q1 2024 and a slight improvement from -0.1800 yuan in Q1 2023 [1] - The net profit for Q1 2025 was -0.21 billion yuan, reflecting a 90.91% increase in losses compared to -0.11 billion yuan in Q1 2024 and a similar loss of -0.22 billion yuan in Q1 2023 [1] - The operating revenue for Q1 2025 was 0.57 billion yuan, which is a 21.28% increase from 0.47 billion yuan in Q1 2024 and a significant increase from 0.37 billion yuan in Q1 2023 [1] Shareholder Structure - The top ten unrestricted shareholders collectively hold 80.9165 million shares, accounting for 65.18% of the circulating shares, with an increase of 3.4001 million shares compared to the previous period [2] - The largest shareholder, Hengli Group Co., Ltd., holds 37.428 million shares, representing 30.14% of the total share capital, with no change in holdings [3] - New entrants among the top shareholders include the National Social Security Fund 103 Portfolio, which holds 1.47% of the total shares, and several other funds that have increased their holdings significantly [3] Dividend Distribution - The company has announced that it will not distribute dividends or transfer shares this period [4]