Core Viewpoint - Yashi Chuangneng Technology (Shanghai) Co., Ltd. is facing a lawsuit from China Railway Fourth Group Co., Ltd. over a construction contract dispute involving unpaid project funds amounting to 151.84 million yuan and related interest, with the case accepted by the Shijiazhuang Intermediate People's Court and yet to be heard [2][3] Group 1 - The lawsuit stems from a construction contract signed in March 2021 between Yashi Chuangneng's subsidiary in Shijiazhuang and China Railway Fourth Group for the North China Comprehensive Manufacturing Base Project [3] - China Railway Fourth Group claims that the completed project price is 353.29 million yuan, and according to the contract, 97% of the final settlement amounting to 342.69 million yuan should be paid, but only 190.85 million yuan has been paid to date, leaving an outstanding amount of 151.84 million yuan [3] - The four claims made by China Railway Fourth Group include the payment of overdue project funds and interest, confirmation of priority rights for project payment, joint liability for Yashi Chuangneng, and the requirement for both defendants to bear litigation and preservation costs [3] Group 2 - Since the last announcement, Yashi Chuangneng and its subsidiaries have incurred additional litigation amounts totaling 129.91 million yuan, with 129.36 million yuan related to cases where they are defendants or respondents, and several other disputes involving amounts less than 3 million yuan totaling 39.538 million yuan [3] - Yashi Chuangneng's main business includes the research, production, sales, and service of functional building coatings, integrated thermal insulation and decoration materials, energy-saving insulation materials, waterproof materials, mortar, and new home materials, applicable in public construction projects, real estate development, and urban renewal [3]

Group 1 - The core point of the article is that Yashichuangneng's major shareholders have had their shares frozen, which significantly impacts the company's ownership structure and liquidity [1] - The controlling shareholder, Shanghai Chuangnengming Investment Co., Ltd., holds approximately 78.66 million shares, accounting for 18.35% of the total share capital, while the actual controller, Li Jinzong, holds about 20.30 million shares, representing 4.74% of the total [1] - The total number of frozen shares amounts to approximately 200.94 million, which constitutes 88.11% of the shares held by the major shareholders and 46.88% of the total share capital [1] Group 2 - For the fiscal year 2024, Yashichuangneng's revenue composition indicates that building energy-saving insulation and decorative materials account for 92.81% of total revenue, while other businesses contribute 7.19% [1] - As of the report date, Yashichuangneng's market capitalization stands at 2.9 billion yuan [1]

Core Viewpoint - The controlling shareholder of Yashichuangneng (603378) has had all of its 98.95 million shares frozen, accounting for 23.09% of the company's total share capital, due to financial difficulties and obligations to shareholders [1][3]. Shareholder Information - The shares frozen include 78,655,500 shares from Chuangnengming, representing 18.35% of the total share capital, and 20,295,000 shares from Li Jinchong, representing 4.74% of the total share capital [2]. - The freezing period for these shares is from December 18, 2025, to December 17, 2028, and the reason for the freeze is a court-ordered property preservation due to financial issues [2][3]. Company Financial Performance - Yashichuangneng has experienced significant revenue declines, with a year-on-year drop of 34.09% in 2022, 34.01% in 2023, and 76.97% in the first three quarters of 2025 [4]. - The net profit attributable to shareholders has decreased by 43.09% in 2023, with negative figures projected for 2024 and the first three quarters of 2025 [4]. - The company's debt-to-asset ratio has increased from 73.79% in 2022 to 81.35% in the first three quarters of 2025 [4]. Market Performance - As of December 22, the stock price of Yashichuangneng was 6.76 CNY, reflecting a 1.5% increase, with a total market capitalization of 2.897 billion CNY [5].

证券代码：603378 证券简称：亚士创能 公告编号：2025-071 控股股东创能明、实际控制人李金钟及其一致行动人上海润合同生投资 有限公司（以下简称"润合同生"）、上海润合同泽投资有限公司（以下简称"润 合同泽"）、上海润合同彩资产管理有限公司（以下简称"润合同彩"）、赵孝 芳合计持有公司股份数量 228,068,266 股；累计冻结股份数量 200,942,775 股， 累计冻结股份占其持有公司股份数量的 88.11%，占公司总股本的 46.88%。 公司于近日收到控股股东创能明及实际控制人李金钟的股份司法冻结通 知，其持有的公司股份被司法冻结，具体情况如下： | | 冻结股份数 | 占其所 | 占公司 | 冻结股份是 | 冻结起始日 | 冻结到期日 | 冻结申请人 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 股东名称 | 量（股） | 持股份 | 总股本 | 否为限售股 | | | | 冻结原因 | | | | 比例 | 比例 | | | | | | | 创能明 | 78,655,500 | 100% | 18.35% ...

Core Viewpoint - The announcement reveals that the controlling shareholder and actual controller of the company have had their shares frozen due to financial difficulties related to an employee stock ownership plan, but this will not affect the company's control or operations [1] Group 1: Shareholding Structure - The controlling shareholder, Chuangnengming, holds 78.6555 million shares, representing 18.35% of the total share capital [1] - The actual controller, Li Jinchong, holds 20.295 million shares, accounting for 4.74% of the total share capital [1] - Together with their concerted actions, they hold a total of 228 million shares, with 201 million shares frozen, which is 88.11% of their holdings and 46.88% of the total share capital [1] Group 2: Share Freeze Details - The number of shares frozen for both Chuangnengming and Li Jinchong is 100% of their respective holdings [1] - The freeze commenced on December 18, 2025, and is set to expire on December 17, 2028 [1] - The reason for the freeze is attributed to difficulties in the turnover of funds for the employee stock ownership plan [1]

Core Viewpoint - The company, Yashichuangneng Technology (Shanghai) Co., Ltd., is currently involved in a significant lawsuit regarding a construction contract dispute, with the court having accepted the case but not yet scheduled a hearing [2][3]. Group 1: Lawsuit Details - The lawsuit is initiated by China Railway Fourth Engineering Group Co., Ltd. against Yashichuangneng Technology (Shijiazhuang) Co., Ltd. and Yashichuangneng Technology (Shanghai) Co., Ltd. [3][4] - The amount in dispute is 151,841,306.72 yuan, which is part of the unpaid construction fees for a project [2][3]. - The original contract stipulated that the defendant should pay 97% of the completed project value, which totals 342,694,460.69 yuan, of which only 190,853,153.97 yuan has been paid to date [3][4]. Group 2: Financial Implications - The impact of the lawsuit on the company's current and future profits remains uncertain as the case has not yet been heard in court [2][4]. - The company has reported additional litigation involving a total amount of 129,914,412.31 yuan since the last announcement, with a breakdown of 558,598.65 yuan as the plaintiff and 129,355,813.66 yuan as the defendant [4].

亚士创能科技（上海）股份有限公司 关于公司及控股子公司重大诉讼的公告 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: 案件所处的诉讼阶段：河北省石家庄市中级人民法院已受理，尚未开庭 审理 是否会对上市公司损益产生负面影响：目前尚未开庭审理，本次诉讼对 公司本期利润或期后利润的影响尚具有不确定性，敬请广大投资者注意投资风险。 亚士创能科技（上海）股份有限公司（以下简称"公司"）近日收到石家庄 市中级人民法院送达的《应诉通知书》（（2025）冀 01 民初 373 号），现将有 关情况公告如下： 一、本次重大诉讼的基本情况 （一）诉讼案件各方当事人 证券代码：603378 证券简称：亚士创能 公告编号：2025-070 （三）基本案情及诉讼请求 原告：中铁四局集团有限公司 被告：亚士创能科技（石家庄）有限公司 亚士创能科技（上海）股份有限公司 （二）诉讼案件受理及进展情况 公司近日收到石家庄市中级人民法院送达的《应诉通知书》（（2025）冀 01 民初 373 号），石家庄市中级人民法院已受理中铁四局集团有限 ...

Core Viewpoint - The company Yashichuangneng is facing significant financial and operational difficulties, with its major shareholder and actual controller, Li Jinchong, unable to fulfill commitments related to employee stock ownership plans due to severe financial constraints [1][10]. Financial Performance - Yashichuangneng's stock price has dropped over 80%, leading to substantial losses for employees involved in the stock ownership plans, which have resulted in a total estimated loss exceeding 100 million yuan [2][3]. - The company reported a loss of over 300 million yuan in 2024 and continued to incur losses exceeding 300 million yuan in the first three quarters of 2025 [4][12]. - As of September 2025, the company's debt-to-asset ratio reached 81.35%, with monetary funds of 142 million yuan against interest-bearing liabilities of 2.552 billion yuan [4][12]. Employee Stock Ownership Plans - Two employee stock ownership plans were implemented in 2020 and 2021, with commitments from the major shareholder to guarantee a minimum annual return of 6% [5][6]. - The first plan involved 1.1571 million shares at an average price of 47.25 yuan per share, while the second plan involved 1.7525 million shares at an average price of 53.354 yuan per share [6][7]. - The stock prices have significantly declined, with the latest closing price at 6.99 yuan per share, leading to estimated losses of 37.6597 million yuan and 67.7229 million yuan for the two plans, respectively [7][10]. Operational Challenges - Yashichuangneng, established in 1998, specializes in construction materials and has faced a significant decline in performance since 2021, with revenues dropping from 47.15 billion yuan in 2021 to 20.52 billion yuan in 2024 [11][12]. - The company has been actively seeking to alleviate financial pressure by announcing asset disposals across multiple locations, including Shanghai and Chongqing [12].

Core Viewpoint - The article emphasizes the importance of utilizing authoritative and professional analyst reports from Jin Qilin to identify potential investment opportunities in the stock market [1][2]. Group 1 - The reports are described as timely and comprehensive, aiding investors in uncovering thematic opportunities [1][2]. - The source of the information is identified as Dongfang Caifu, indicating a collaboration with Sina [1][2]. - The article includes a disclaimer stating that the content is for reference only and does not constitute investment advice [1][2].

Core Viewpoint - The company Yashi Chuangneng (亚士创能) and its actual controller are facing severe financial difficulties due to an unfulfilled "bottom line" commitment related to employee stock ownership plans, leading to significant losses and legal disputes [2][3][4]. Group 1: Financial Commitments and Losses - The actual controller, Li Jinchong, and the controlling shareholder, Shanghai Chuangneng Ming Investment Co., have had all their shares frozen due to the failure to meet commitments related to employee stock ownership plans [4][6]. - The employee stock ownership plans promised a minimum annual return of 6%, but the company's stock price has plummeted over 88% from its peak, resulting in estimated losses of approximately 108 million yuan, with total liabilities exceeding 125 million yuan when including the promised returns [2][9][10]. Group 2: Shareholding and Freezing of Shares - As of the announcement date, the controlling shareholder and actual controller collectively held 228 million shares, representing 53.21% of the company, with 88.11% of these shares already frozen [5][12]. - The freezing of shares is primarily linked to the unfulfilled commitments of the employee stock ownership plans, which have led to legal actions from plan participants seeking asset preservation [6][13]. Group 3: Company Performance and Debt - Yashi Chuangneng's financial performance has deteriorated significantly, with revenue dropping by 76.97% year-on-year to 397 million yuan, and a net loss of 311 million yuan reported [11][13]. - The company's debt levels have increased, with a debt-to-asset ratio rising from 60.26% in 2020 to 81.35% in 2023, and interest-bearing liabilities reaching 2.551 billion yuan, while cash reserves are only 142 million yuan [11][13].