Group 1 - The company *ST Muban (603398.SH) has been investigated by the China Securities Regulatory Commission (CSRC) for suspected false disclosures of financial data in its periodic reports [1] - The CSRC has issued a "Notice of Investigation" to the company regarding these allegations [1]

证券代码：603398 证券简称：*ST 沐邦 公告编号：2025-079 江西沐邦高科股份有限公司 关于公司及子公司银行账户和募集资金专户被冻 结的公告 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。 一、银行账户及募集资金专户资金被冻结情况概述 江西沐邦高科股份有限公司（以下简称"公司"）于近日获悉，公司及子公 司账户出现冻结，广西沐邦高科新能源有限公司（以下简称"广西沐邦"）、内 蒙古沐邦新材料有限公司（以下简称"沐邦新材料"）、江西邦宝教育科技有限 公司（以下简称"邦宝教育"）部分银行账户及募集资金专户资金被冻结。具体 情况如下： | 公司 | | 账户名称 | 账号 | 冻结金额 | 目前银行余额 | 账户信 | 执行 | | --- | --- | --- | --- | --- | --- | --- | --- | | 名称 | | | | | | 息 | 法院 | | | | 农行南昌 红谷滩支 | 14*********68 | 941.66 | 941.66 | 基本户 | | | | 行 | | ...

证券代码：603398 证券简称：*ST 沐邦 公告编号：2025-078 江西沐邦高科股份有限公司 关于子公司募集资金专户资金被司法划扣的公告 金 97,465,928 元。截至本公告披露日，公司募集资金账户因晟泽盈民间借贷纠纷 累计被划扣 9,746.59 万元。 三、募集资金账户资金被司法划扣对公司的影响 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。 一、募集资金账户资金被司法划扣情况概述 因江西沐邦高科股份有限公司（以下简称"公司"或"沐邦高科"），公司 子公司内蒙古沐邦新材料有限公司（以下简称"沐邦新材料"），江西邦宝教育 科技有限公司（以下简称"邦宝教育"）与杭州晟泽盈贸易有限公司（以下简称 "晟泽盈"）民间借贷纠纷一案，近日公司部分募集资金账户资金被司法划扣， 划扣金额 97,465,928 元。具体情况如下： | 账户 | | | | | 账户 | 执行法 | | --- | --- | --- | --- | --- | --- | --- | | | 开户行 | 银行账号 | 划扣金额（元） 账户余 ...

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。 一、募集资金账户资金被司法划扣情况概述 证券代码：603398 证券简称：*ST 沐邦 公告编号：2025-078 江西沐邦高科股份有限公司 关于子公司募集资金专户资金被司法划扣的公告 因江西沐邦高科股份有限公司（以下简称"公司"或"沐邦高科"），公司 子公司内蒙古沐邦新材料有限公司（以下简称"沐邦新材料"），江西邦宝教育 科技有限公司（以下简称"邦宝教育"）与杭州晟泽盈贸易有限公司（以下简称 "晟泽盈"）民间借贷纠纷一案，近日公司部分募集资金账户资金被司法划扣， 划扣金额 97,465,928 元。具体情况如下： | 账户 | 开户行 | 银行账号 | 划扣金额（元） | 账户余额（元） | 账户 | 执行法 | | --- | --- | --- | --- | --- | --- | --- | | 名称 | | | | | 性质 | 院 | | 沐邦 新材 | 中国银 行包头 | 15**********77 | 56,892,299.00 | 5,689.55 | ...

Group 1 - The A-share photovoltaic sector is experiencing a continuous adjustment, with significant declines in stock prices [1] - Yamaton has dropped over 9%, indicating a notable downturn in its market performance [1] - Other companies such as Yijing Optoelectronics, Guosheng Technology, Haiyou New Materials, Hongyuan Green Energy, and *ST Mubang have also seen declines [1]

Core Viewpoint - The announcement details the judicial disposal of shares held by the controlling shareholder of Jiangxi Mubang High-Tech Co., Ltd. and the implications of this event on the company's operations and governance structure [1][10]. Group 1: Share Transfer Agreement - On January 5, 2024, the controlling shareholder Mubang New Energy Holdings signed a share transfer agreement with Tongling High-tech Qihang Equity Investment Partnership to transfer 5.2% of the company's shares, with a total value of less than 364 million yuan [2][4]. - The share transfer was intended to promote long-term cooperation between the parties involved, particularly in policy and resource alignment [2][3]. - The share transfer price is based on the average stock price over the twenty trading days prior to the agreement or the last trading day's closing price, whichever is higher [4]. Group 2: Payment and Pledge Arrangements - The payment schedule for the share transfer includes an initial payment of 50 million yuan within five working days of signing the contract, followed by additional payments contingent on project milestones [5][6]. - A total of 58 million shares were pledged as collateral for the share transfer, with specific conditions for the release of these shares [6][7]. Group 3: Judicial Execution and Impact - On May 27, 2025, Tongling High-tech Qihang applied for judicial enforcement to compel Mubang New Energy Holdings to fulfill its share transfer obligations [10]. - The enforcement process is a civil matter between the shareholders and does not directly affect the company's assets or operations, which remain stable [11]. - Following the completion of the share transfer, Mubang New Energy Holdings' shareholding will decrease to 16.08%, while Tongling High-tech Qihang will hold 4.11% of the shares, maintaining Mubang as the controlling shareholder [11][14]. Group 4: Governance and Control - The share transfer is not expected to change the company's control structure, as Mubang New Energy Holdings will remain the largest shareholder and maintain a consistent voting relationship with Tongling High-tech Qihang [15]. - The company’s governance structure and decision-making processes are expected to remain intact despite the changes in shareholding [12][18]. - The share transfer agreement did not involve any restrictions on share reduction at the time of signing, and the pledge arrangements were standard commercial practices for securing obligations [18][19].

Core Viewpoint - The announcement details a judicial transfer of shares from Jiangxi Mubang New Energy Holdings to Tongling High-tech Qihang Equity Investment Partnership, which is currently in the enforcement stage due to the failure to fulfill the share transfer agreement [1][2][10]. Group 1: Share Transfer Details - The controlling shareholder, Jiangxi Mubang New Energy Holdings, signed a share transfer agreement on January 5, 2024, to transfer 17,816,994 shares, representing 5.2% of the company, to Tongling High-tech Qihang [1][2]. - The total transfer price is capped at 364 million yuan, with specific payment arrangements outlined in the agreement [6][8]. - Following the transfer, Jiangxi Mubang New Energy Holdings' shareholding will decrease from 87,540,610 shares (20.19%) to 69,723,616 shares (16.08%), while Tongling High-tech Qihang will hold 17,816,994 shares (4.11%) [3][4]. Group 2: Obligations and Conditions - Tongling High-tech Qihang is prohibited from transferring the shares for three years after becoming a shareholder, with a right of first refusal for the actual controller, Liao Zhiyuan, if a transfer is needed afterward [2][9]. - If the market value of the shares falls below 364 million yuan at the time of transfer, Jiangxi Mubang New Energy Holdings must refund the difference [8][10]. - The agreement includes provisions for stock pledges to secure the transfer, with specific conditions for the release of these pledges [7][8]. Group 3: Legal and Compliance Aspects - The transfer is currently under judicial enforcement due to Jiangxi Mubang New Energy Holdings' failure to fulfill its obligations under the share transfer agreement [2][10]. - The agreement stipulates that both parties must maintain consistent voting rights for the shares during the three-year period [9][10].

证券代码：603398 证券简称：*ST 沐邦 公告编号：2025-076 江西沐邦高科股份有限公司 关于控股股东前期签署协议转让暨当前司法划转的补充 提示性公告 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: 本次权益变动为司法划转，不涉及二级市场减持。 江西沐邦高科股份有限公司（以下简称"公司"）控股股东江西沐邦新能 源控股有限公司（以下简称"沐邦新能源控股"）2024 年 1 月 5 日与铜陵高新企 航股权投资合伙企业(有限合伙)(以下简称"高新企航"或"受让方")签署了《股 权转让合同》，约定沐邦新能源控股向高新企航转让其持有上市公司合计 17,816,994 股（占当时上市公司总股本的 5.20%）。《股权转让合同》签署之后， 沐邦新能源控股未能履行合同约定，受让方申请法院仲裁执行，将上述 17,816,994 股（占目前上市公司总股本的 4.11%）司法划转。 《股权转让合同》约定，高新企航自签署本协议并生效之日起三年内（取 得上市公司股票成为股东后），在行使股东表决权时，承诺与沐邦新能源控股 ...

江西沐邦高科股份有限公司（以下简称"公司"）于 2025 年 6 月 5 日收到上 海证券交易所下发的《关于对江西沐邦高科股份有限公司控股股东股份司法处置 事项的监管工作函》（上证公函【2025】0768 号，以下简称"《监管工作函》"）。 公司积极组织相关人员对《监管工作函》所涉及的问题进行讨论、核查，现对《监 管工作函》所涉问题进行逐项核实与回复。 问题一、公告显示，2024 年 1 月 5 日，控股股东沐邦新能源控股与铜陵高 新企航股权投资合伙企业(有限合伙)(以下简称"高新企航")签署《股权转让合同》， 约定沐邦新能源控股向高新企航转让其持有的上市公司 5.2%股权，合计 17,816,994 股，转让价款不超过 3.64 亿元，股权转让方承诺如股份转让交割日的 基准价格对应的股票市值低于 3.64 亿元，则转让方需退还差额部分。沐邦新能 源控股承诺最晚于 2024 年第一季度前，向高新企航转让上述股权。请公司及相 关股东全面核实前述股份转让事项的发生时间、转让背景、交易作价、交易安 排等事项，并依规补充履行信息披露义务。 公司回复： （一）发生时间 证券代码：603398 证券简称：*ST 沐邦 公 ...

Core Viewpoint - *ST Muban (Muban High-Tech) reported a significant decline in revenue and a substantial net loss for 2024, raising concerns about its financial health and operational integrity [1][2]. Revenue Recognition and Accounting Issues - The company experienced a drastic revenue drop of 83.24% year-on-year, with total revenue reported at 277 million yuan and a net loss of 1.162 billion yuan [1]. - Two accounting errors led to adjustments in revenue recognition, particularly in the toy raw material sales, where revenue was changed from gross to net method, resulting in a revenue decrease of approximately 46.99 million yuan [2]. - The adjustment was due to a reassessment of the business model, where the company acted as an agent rather than a principal, affecting the revenue structure and client relationships [2]. Related Party Transactions and Fairness Concerns - The fairness of related party transactions was questioned, particularly regarding the sale of silicon rods by a subsidiary at prices significantly higher than those of non-related parties, leading to a revenue adjustment of 11.84 million yuan [3]. - A familial relationship between the actual controllers of the involved companies was not initially disclosed, raising further concerns about transparency [3]. Financial Health and Cash Flow Challenges - As of the end of 2024, the company had cash and cash equivalents of 261 million yuan, with 70.29 million yuan frozen, against total liabilities of 2.599 billion yuan, resulting in a high debt-to-asset ratio of 73.58% [4]. - The company faced significant short-term debt pressure, with current liabilities of 2.065 billion yuan compared to current assets of only 740 million yuan [4]. - Operating cash flow turned negative at -217 million yuan, while cash payments for goods and services increased to 448 million yuan, indicating cash flow strain [4]. Frequent Financing Activities and Investment Risks - The company engaged in frequent financing activities, receiving 2.505 billion yuan and paying out 2.612 billion yuan related to financing, primarily from non-financial institutions, to manage debt and operational needs [5]. - Investment impairment risks were highlighted, with the company recognizing impairments of approximately 39.94 million yuan and 95.66 million yuan for two major projects due to industry overcapacity and underperformance [5]. - The company is attempting to alleviate financial pressures through improved collection efforts and procurement strategies, but ongoing industry challenges remain a concern for its operational turnaround [5].