Core Viewpoint - *ST Muban experienced a dramatic trading session, with its stock price rising from a limit down to a limit up, indicating significant volatility in the market [2] Trading Performance - The stock's trading volume reached 45.68 million shares, with a total transaction value of 359 million yuan [2] - The stock exhibited a price fluctuation of 9.90% during the trading session [2] - The turnover rate was recorded at 10.53%, suggesting active trading interest [2] - The amount of buy orders at the limit up price was 601,200 yuan [2]

Core Viewpoint - *ST Muban (sh603398) experienced a limit down on October 13, 2025, with a price of 7.68 yuan, reflecting a decline of 4.95% and a total market capitalization of 3.33 billion yuan [1] Group 1: Company Issues - The company is under investigation for failing to disclose non-operating fund transactions as required, significantly impacting its reputation and image [2] - This serious violation has led to investor concerns regarding corporate governance and financial status, resulting in a mass sell-off of shares [2] Group 2: Market Reaction - The newly added "yesterday's limit up" concept on September 30, 2025, has had no substantial impact on the company's fundamentals, and the market is becoming more rational regarding such speculative concepts [2] - Stocks involved in similar violations tend to be avoided by investors, contributing to the overall negative performance of *ST Muban's sector [2] Group 3: Technical and Financial Analysis - Recent trading data indicated net buying by speculative funds, but their future movements remain uncertain, and the company's performance has not shown clear improvement [2] - Negative news may cause the stock price to breach critical support levels, triggering further sell-offs and leading to the limit down [2]

Core Viewpoint - Jiangxi Mubang High-tech Co., Ltd. faces delisting risk due to negative net profit for the fiscal year 2024 and insufficient operating revenue, leading to risk warnings on its stock [2][3][19]. Group 1: Delisting Risk Warning - The company reported a negative net profit for 2024, and its operating revenue, after excluding non-core business income, was below 300 million yuan, triggering a delisting risk warning effective May 6, 2025 [2][3]. - The company received a negative opinion in its 2024 internal control audit report, resulting in additional risk warnings on its stock from the same date [4][19]. - The company has unresolved issues regarding the occupation of funds by its controlling shareholder and related parties, leading to further risk warnings starting August 27, 2025 [4][19]. Group 2: Financial and Operational Measures - The company aims to control liquidity risks and enhance budget management, focusing on improving profitability and operational efficiency [5][6]. - Measures include optimizing asset management, disposing of inefficient assets, and ensuring sustainable business operations [5][6]. - The company is committed to rectifying internal control issues and ensuring compliance with regulations to prevent future occurrences [7][6]. Group 3: Ongoing Investigations and Legal Matters - The company is under investigation by the China Securities Regulatory Commission (CSRC) for suspected false disclosures in financial reports [8][20]. - The actual controller of the company is also under investigation for failing to disclose non-operating fund transactions [8][20]. - The company has outstanding non-repaid funds occupied by its controlling shareholder and related parties, which remains unresolved as of the announcement date [20].

证券代码：603398 证券简称：*ST 沐邦 公告编号：2025-119 江西沐邦高科股份有限公司 关于公司股票被实施退市风险警示及其他风险警示相关 事项的进展公告 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： 公司因 2024 年度净利润为负，且扣除与主营业务无关的业务收入和不具 备商业实质的收入后的营业收入低于 3 亿元，根据《上海证券交易所股票上市规 则》第 9.3.2 条第(一)项规定，公司股票于 2025 年 5 月 6 日被上海证券交易所实 施退市风险警示。 大华会计师事务所(特殊普通合伙)对公司出具了否定意见的《2024 年度 内部控制审计报告》，根据《上海证券交易所股票上市规则》第 9.8.1 条第(三) 项规定，公司股票于 2025 年 5 月 6 日被实施其他风险警示。 因公司存在控股股东及其关联方资金占用未收回事项，根据《上海证券 交易所股票上市规则》第 9.8.1 条第(一)项规定，公司股票自 2025 年 8 月 27 日 起被叠加实施其他风险警示。 一、被实施退市风险警示及其他风 ...

证券代码：603398 证券简称：*ST 沐邦 公告编号：2025-120 江西沐邦高科股份有限公司 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。 公司存在尚未偿还的资金占用：由于公司控股股东及其关联方非经营性 资金占用金额超过 1,000 万元且未在 1 个月内清偿，根据《上海证券交易所股票 上市规则》第 9.8.1 条相关规定，因公司存在资金占用未收回事项，公司股票于 2025 年 8 月 27 日起被叠加实施其他风险警示。截至本公告披露日，公司控股股 东及其关联方非经营性资金占用事项仍未处置完毕。 敬请广大投资者理性投资，注意投资风险。 一、股票交易异常波动的具体情况 公司股票于 2025 年 9 月 30 日、10 月 9 日、10 月 10 日，连续三个交易日收 盘价格跌幅偏离值累计超过 12%，根据《上海证券交易所交易规则》的有关规定， 属于股票交易异常波动。 二、公司关注并核实的相关情况 重要内容提示： 江西沐邦高科股份有限公司（以下简称"公司"）A 股股票连续三个交 易日收盘价格跌幅偏离 ...

New Stock Listings - New stock "Aomeisen" (920080) listed at an issue price of 8.25 on October 10, 2025[1] - "Shangwei New Materials" (688585) has a tender offer period from September 29 to October 28, 2025[1] Delisting and Trading Alerts - "Zitian Tui" (300280) is in the delisting arrangement period with only 1 trading day remaining[1] - "Pinming Technology" (688109) is experiencing severe abnormal fluctuations[1] Market Updates - Multiple companies including "Kesi Technology" (688788) and "Bory Medical" (688166) have recent announcements related to trading activities[1] - "Ganfeng Lithium" (002460) and "Luoyang Molybdenum" (603993) have also made recent disclosures[1] Additional Information - A total of 30 companies have been highlighted for various trading activities and announcements on October 10, 2025[1] - Links to detailed announcements for each company are provided for further insights[1]

Core Points - *ST Muban (sh603398) hit the daily limit down on October 10, 2025, with a closing price of 8.08 yuan, a decline of 4.94%, and a total market capitalization of 3.504 billion yuan [1] Group 1: Investigation and Market Impact - The company is under investigation for failing to disclose non-operating fund transactions as required, which has significantly damaged its credibility and investor confidence [2] - The potential risks of regulatory penalties and negative impacts on the company's operations have heightened market concerns about its future development, contributing to the stock's limit down [2] Group 2: Financial Reporting Uncertainty - The company is expected to release its Q3 report on October 30, 2025, but the current situation makes it difficult to assess its financial performance [2] - Given the ongoing investigation, it is likely that the financial results will be adversely affected, further undermining market confidence if profits do not improve or business expansion remains weak [2] Group 3: Market Sentiment and Speculation - The stock has recently been associated with a "yesterday's limit up" concept, reflecting short-term market sentiment rather than any fundamental improvement [2] - Increased participation from speculative funds has led to greater stock price volatility, and in the context of negative market expectations, these factors have failed to support the stock price, ultimately leading to the limit down [2] - Recent fund flows indicate that speculative funds are entering and exiting quickly, which does not provide stable financial support and may present unfavorable technical conditions, accelerating the stock's decline [2]

New Stock Offerings - The tender offer for Shangwei New Materials (688585) is open from September 29, 2025, to October 28, 2025[1] - Zitian Tui (300280) is in the delisting adjustment period with only 2 trading days remaining until the last trading day[1] Market Alerts - Kesi Technology (688788) and Pinming Technology (688109) have recent announcements but no specific details provided[1] - Magu Technology (688448) is experiencing severe abnormal fluctuations[1] Trading Updates - Multiple companies including Dongjing (002199) and Guosheng Jinkong (002670) have announcements dated October 9, 2025, indicating ongoing trading activities[1] - Companies like Hunan Yuneng (301358) and Wanrun New Energy (688275) have announcements from October 1, 2025, indicating recent trading updates[1] Financial Disclosures - Several companies have disclosed their financial information, with specific announcements linked to their respective stock codes[1] - The report includes links to detailed announcements for various companies, providing transparency in their financial activities[1]

Core Viewpoint - The company *ST Muban (603398.SH), once a star in the photovoltaic industry, is now facing multiple crises, including potential delisting risks and financial misconduct allegations against its actual controller, Liao Zhiyuan [1][2]. Financial Misconduct and Regulatory Actions - Liao Zhiyuan is under investigation by the China Securities Regulatory Commission (CSRC) for failing to disclose non-operational fund transactions, with allegations of illegally occupying company funds [2][3]. - The company has been publicly reprimanded by the Shanghai Stock Exchange for significant accounting errors and misuse of raised funds, leading to a formal investigation by the CSRC [3]. Financial Performance and Risks - The company has been warned about potential delisting due to negative financial performance, with a reported revenue of 141 million yuan and a net loss of 213 million yuan for the first half of 2025 [4]. - If the company fails to meet revenue thresholds or receives negative audit opinions for 2025, it risks being delisted after the annual report [4]. Shareholder and Legal Issues - The controlling shareholder's shares, totaling 87.54 million shares (20.19% of total shares), have been frozen due to civil litigation, affecting the company's financial stability [5][6]. Industry Context and Company History - Originally known for its educational toys, the company transitioned into the photovoltaic sector in 2022 but has struggled to meet profit targets set during its acquisition of Haohan Energy [7][8]. - The photovoltaic industry has faced challenges such as oversupply and declining prices, leading to significant losses for the company, which reported a loss of 1.162 billion yuan in 2024 [8].

Core Viewpoint - The actual controller of Jiangxi Mubang High-tech Co., Ltd., Mr. Liao Zhiyuan, has received a notice of investigation from the China Securities Regulatory Commission (CSRC) for failing to disclose non-operating fund transactions as required by law [1][4]. Group 1: Investigation and Compliance - Mr. Liao Zhiyuan will actively cooperate with the CSRC and fulfill information disclosure obligations as per regulatory requirements [2]. - The company has been under investigation since July 25, 2025, for suspected false disclosures in financial reports [6]. Group 2: Stock Trading Risks - The company's stock price has surged significantly, with a cumulative increase of 21.71% from September 24 to September 29, 2025, raising concerns about potential market risks [4][5]. - The company faces a risk of delisting due to negative net profit for the fiscal year 2024 and insufficient revenue [4][6]. Group 3: Financial Performance - For the first half of 2025, the company reported revenues of 141 million and a net loss of 213 million [5]. - The company has outstanding non-operating fund occupations exceeding 10 million, which has led to additional risk warnings on its stock [6].