Core Viewpoint - The renovation and building materials sector experienced a slight increase, closing at 15,266.52 points with a growth rate of 1.06% on October 20, driven by several stocks in the sector showing positive performance [1] Group 1: Stock Performance - Filinger (603226) led the sector with a closing price of 43.16 CNY per share, marking a rise of 7.07% [1] - Iolo Home (603326) followed with a closing price of 9.03 CNY per share, up by 4.39% [1] - Keren Co. (300715) closed at 12.58 CNY per share, reflecting a growth of 3.71% [1] - Conversely, *ST Yazhen (603389) saw a decline, closing at 38.79 CNY per share with a drop of 5.00%, leading the losses in the sector [1] - Jingxue Energy-saving (301010) closed at 20.84 CNY per share, down by 2.16% [1] - Dongpeng Holdings (003012) ended at 7.52 CNY per share, with a decrease of 1.70% [1] Group 2: Market Insights - Guosheng Securities released a report indicating that the consumption of building materials benefits from favorable second-hand housing transactions and consumption stimulus policies, suggesting a long-term potential for market share growth [1] - The demand side for consumer building materials continues to show signs of weak recovery [1] - Prices of upstream raw materials, including asphalt, aluminum alloy, natural gas, styrene, and butyl acrylate, have decreased compared to the previous week [1]

Market Overview - On October 17, the home goods sector declined by 1.52%, with Yuma Technology leading the drop [1] - The Shanghai Composite Index closed at 3839.76, down 1.95%, while the Shenzhen Component Index closed at 12688.94, down 3.04% [1] Stock Performance - Notable gainers included: - Mengbaihe (603313) with a closing price of 9.33, up 10.02% on a trading volume of 269,100 shares and a turnover of 246 million yuan [1] - Longzhu Technology (920445) closed at 11.97, up 9.02% with a trading volume of 84,800 shares and a turnover of 104 million yuan [1] - Significant losers included: - Yuma Technology (300993) closed at 18.24, down 6.46% with a trading volume of 178,300 shares and a turnover of 332 million yuan [2] - Qisheng Technology (603610) closed at 16.84, down 6.18% with a trading volume of 128,300 shares [2] Capital Flow - The home goods sector experienced a net outflow of 248 million yuan from institutional investors, while retail investors saw a net inflow of 255 million yuan [2] - The capital flow for key stocks showed: - Mengbaihe had a net inflow of 84.29 million yuan from institutional investors, but a net outflow of 43.88 million yuan from retail investors [3] - Delu Future (002631) had a net inflow of 29.35 million yuan from institutional investors, with a net outflow of 26.12 million yuan from retail investors [3]

Core Viewpoint - *ST Yazhen (sh603389) experienced a limit down on October 17, 2025, with a closing price of 38.94 yuan, reflecting a decline of 5% and a total market capitalization of 10.728 billion yuan [1] Group 1: Reasons for Stock Decline - ESG rating decline impacts investor confidence: The Q3 ESG rating from Shandao Ronglv for *ST Yazhen was B-, a decrease from the previous period. This decline in ESG rating can negatively affect investor perception of the company's long-term prospects, leading to stock sell-offs and a limit down in price [2] - Overall market environment and concept influence: Despite the introduction of the "Annual Strong" concept on October 16, the overall market remains complex and uncertain. If the market does not sustain interest in this concept, it may not attract sufficient capital inflow to support stock price increases [2] - Performance of comparable sectors: The "Annual Strong" concept is relatively new, with few active comparable sectors. If the concept lacks substantial performance backing, its popularity may wane, leading to potential stock price corrections [2] - High price correction and capital factors: The stock reached a historical high of 43.04 yuan on October 16, with a rise of 4.86%. High stock prices inherently carry correction risks, and aggressive short-term trading by speculative capital may lead to profit-taking, resulting in significant price fluctuations or limit downs [2]

证券代码：603389 证券简称：*ST 亚振 公告编号：2025-099 亚振家居股份有限公司 股票交易风险提示公告 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。 重要内容提示： 截至目前，亚振家居股份有限公司（以下简称"公司"）控股股东吴涛先 生没有在未来 36 个月内改变公司主营业务或者对主营业务做出重大调整的明确 计划，或对公司及其子公司的主要资产和业务进行出售、合并、与他人合资或合 作的明确计划，或公司拟购买或置换资产的明确重组计划，或将其控制的其他资 产通过公司借壳上市的计划或安排。 二级市场交易风险。公司股票自 2025 年 4 月 8 日至 10 月 16 日期间，累 计涨幅达到 865.84%，公司股票交易 15 次触及股票交易异常波动。公司股票涨 幅严重高于同期行业及上证指数涨幅，但公司基本面未发生重大变化，当前公司 股票价格走势已呈现出市场情绪过热及非理性炒作的特征，交易风险极大，存在 短期大幅下跌的风险。根据中证指数有限公司官方网站发布的最新滚动市盈率和 市净率数据（更新日期：2025 年 10 月 ...

Core Viewpoint - The stock of Yanzhen Home Co., Ltd. has experienced an extraordinary increase of 865.84% from April 8 to October 16, 2025, indicating market sentiment that is overly heated and characterized by irrational speculation [1] Summary by Relevant Sections Stock Performance - The stock has encountered 15 instances of abnormal fluctuations during the specified period [1] - The current rolling price-to-earnings ratio is negative, and the price-to-book ratio stands at 47.52, significantly higher than industry standards, suggesting a risk of substantial short-term decline [1] Financial Health - The company reported a net profit loss for the first half of 2025, and its stock has been placed under delisting risk warning [1] - If annual performance indicators do not meet the required standards, the company may face the risk of termination of its listing [1] Subsidiary Performance - There is uncertainty regarding the integration effects and profitability levels of the subsidiary, Guangxi Zirconium Industry [1] - The controlling shareholder currently has no plans to change the main business operations [1] Investor Advisory - The company advises investors to engage in rational investment practices and to be aware of the associated risks [1]

证券代码：603389 证券简称：*ST 亚振 公告编号：2025-098 亚振家居股份有限公司 股票交易异常波动暨风险提示公告 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。 经公司自查，并书面征询控股股东及实际控制人，截至本公告披露日， 确认不存在应披露而未披露的重大事项和风险事项。 一、股票交易异常波动的具体情况 公司股票交易连续三个交易日内日收盘价格涨幅偏离值累计达 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的情形。 重要内容提示： 亚振家居股份有限公司（以下简称"公司"）股票于 2025 年 10 月 13 日、14 日、15 日连续三个交易日内日收盘价格涨幅偏离值累计达到 12%，属于 股票交易异常波动。 生产经营风险。公司 2025 年半年度归属于上市公司股东的净利润为 -3,309.39 万元，归属于上市公司股东的扣除非经常性损益的净利润为-3,121.59 万元，实现营业收入 10,599.05 万元（未审计）。公司股票已于 2025 年 5 月 6 日 起被实施退市风险警示。若 ...

Core Insights - The primary focus of the article is the performance of the initial public offering (IPO) sector, which saw a rise of 1.74% on October 15, with *ST Yazhen leading the gains [1] Market Performance - The Shanghai Composite Index closed at 3912.21, up 1.22% - The Shenzhen Component Index closed at 13118.75, up 1.73% [1] Individual Stock Performance - *ST Yazhen (603389) closed at 40.99, with a gain of 4.99% and a trading volume of 40,700 shares, amounting to a transaction value of 166 million yuan - Kai Run Co., Ltd. (300577) closed at 23.45, up 3.30%, with a trading volume of 20,800 shares and a transaction value of 48.34 million yuan - Da Feng Industrial (603081) closed at 13.79, up 2.38%, with a trading volume of 200,600 shares and a transaction value of 275 million yuan - Other notable stocks include Miao Exhibition (300795), Lan Sheng Co., Ltd. (600826), and Yao Wang Technology (002291), all showing positive gains [1] Capital Flow Analysis - The IPO sector experienced a net inflow of 53.37 million yuan from institutional investors, while retail investors saw a net outflow of 41.81 million yuan - Notable stocks with significant capital inflows include Yao Wang Technology (002291) with a net inflow of 28.81 million yuan from institutional investors and Lan Sheng Co., Ltd. (600826) with a net inflow of 14.42 million yuan [2]

Core Insights - The cultivated diamond sector experienced a significant increase of 3.74%, leading the concept sectors in terms of growth, with 14 stocks rising, including Chujiang New Materials and Huanghe Xuanfeng reaching their daily limit [1] Group 1: Market Performance - The top gainers in the cultivated diamond sector included: - Strength Diamond: +14.97% - Huanghe Xuanfeng: +9.96% - Chujiang New Materials: +10.01% [1][2] - The sector saw a net inflow of 9.65 billion yuan from major funds, with Huanghe Xuanfeng receiving the highest net inflow of 2.88 billion yuan [1] Group 2: Fund Flow Ratios - The top stocks by net inflow ratio were: - Chujiang New Materials: 36.96% - Huanghe Xuanfeng: 15.43% - *ST Yazhen: 13.84% [2][3] - Other notable stocks included: - Strength Diamond: 10.33% - Zhongbing Hongjian: 6.22% [2]

证券代码：603389 证券简称：*ST 亚振 公告编号：2025-097 亚振家居股份有限公司 关于新增日常关联交易预计的公告 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。 公司于 2025 年 10 月 14 日召开第五届董事会第十四次会议，非关联董事以 3 票同意、0 票反对、0 票弃权的表决结果（关联董事吴涛先生和范伟浩先生回 避表决），审议通过了《关于新增日常关联交易预计的议案》。 本次日常关联交易事项经公司第五届董事会独立董事专门会议 2025 年第四 次会议审议通过，公司独立董事经审议后认为： 公司与关联方之间的交易系基于市场环境的变化以及公司生产经营的实际 需求制订，遵循公正、公平、公开和优势互补的原则，符合《上海证券交易所上 市公司自律监管指引第 5 号—交易与关联交易》等相关法律、法规、规范性文件 及《公司关联交易管理办法》的规定。关联交易定价公允，不存在利益输送的情 形，不会对公司的独立性构成影响，不会导致公司对关联方形成依赖，不存在损 1 害公司或股东的利益，特别是非关联股东和中小股东利益的情形。我们 ...

Core Viewpoint - *ST Yazhen (603389) has approved a new daily related transaction with Jinan Yuxiao Group Co., Ltd. for the procurement of office furniture and decoration materials, amounting to no more than 25 million yuan, which is expected to enhance asset utilization and capacity digestion without affecting the company's independence and financial status [1][1][1] Group 1 - The board meeting was held on October 14, 2025, to review the proposed transaction [1] - The transaction is related to the African headquarters project of Yuxiao Group, which is controlled by the company's major shareholder Wu Tao [1][1] - The transaction will not require shareholder approval and is based on fair pricing in accordance with market rates [1][1][1] Group 2 - The transaction is seen as a result of prior negotiations and is expected to improve the efficiency of *ST Yazhen's asset usage [1] - Yuxiao Group is legally established, operating normally, and has the capability to fulfill the transaction [1][1]