Investment Rating - The report does not explicitly state an investment rating for the industry, but it provides insights into the performance of various sectors within the equipment manufacturing industry, indicating a mixed outlook for different segments [1][7]. Core Insights - The domestic engineering machinery market is experiencing a short-term decline in activity, with May 2025 data showing a 3.86% year-on-year decrease in average working hours and a 5.01 percentage point drop in operating rates [2][10]. - The automotive sector shows resilience, with a 6% year-on-year increase in daily retail sales of passenger cars during the last week of May 2025, supported by promotional strategies from manufacturers [2][10]. - In the photovoltaic sector, prices for battery cells and modules have stabilized, but demand remains weak, particularly for photovoltaic glass, which is experiencing price declines due to reduced purchasing from downstream component manufacturers [2][10]. Summary by Sections Market Overview - From June 3 to June 6, 2025, the indices for machinery equipment, power equipment, and automotive sectors changed by 0.93%, 1.38%, and 0.17% respectively, ranking 19th, 14th, and 25th among 31 primary industries [7][10]. Industry News and Key Company Announcements - As of April 2025, China's renewable energy generation capacity reached 2.017 billion kilowatts, a 58% year-on-year increase, with wind, solar, and nuclear power surpassing thermal power capacity [2][18]. - A humanoid robot manufacturer has completed a Series A financing round exceeding 100 million RMB, indicating growing investment in robotics [2][18]. - China National Power Engineering Group signed a 1GW project order in Azerbaijan, highlighting international expansion in renewable energy projects [2][20].

Investment Rating - The report does not explicitly state an investment rating for the industry, but it provides insights into the performance of various sectors within the equipment manufacturing industry, indicating a mixed outlook for different segments [1][2]. Core Insights - The domestic engineering machinery market is experiencing a short-term decline in activity, with May 2025 data showing a 3.86% year-on-year decrease in average working hours and a 5.01 percentage point drop in operating rates [2]. - The automotive sector shows resilience, with a 6% year-on-year increase in daily retail sales of passenger vehicles in late May 2025, supported by promotional strategies from manufacturers [2]. - The photovoltaic sector is facing challenges, with a slowdown in demand for solar glass and a general decline in prices for various products, indicating a weak market outlook [2]. Summary by Sections Market Overview - From June 3 to June 6, 2025, the indices for machinery equipment, power equipment, and automotive sectors changed by 0.93%, 1.38%, and 0.17% respectively, ranking 19th, 14th, and 25th among 31 primary industries [7][10]. Engineering Machinery - The average working hours for major engineering machinery products in May 2025 were 84.5 hours, down 3.86% year-on-year and 6.25% month-on-month. The operating rate was 59.5%, reflecting a 5.01 percentage point year-on-year decline [2]. Automotive Sector - In the last week of May 2025, the average daily retail sales of passenger vehicles reached 95,000 units, a 6% increase compared to the same period last year, although it represented a 7% decrease from the previous month [2]. Photovoltaic Sector - The prices of photovoltaic cells and modules have seen a slowdown in their decline, but overall demand remains weak, particularly for solar glass, which is experiencing price pressure due to reduced purchasing needs from downstream component manufacturers [2]. Industry News - As of April 2025, China's renewable energy generation capacity reached 2.017 billion kilowatts, a 58% year-on-year increase, with wind, solar, and nuclear power surpassing thermal power capacity for the first time [2].

二、募集资金账户资金被司法划扣的原因 2025 年 4 月公司募集账户因与诺惠金融买卖借款合同纠纷，被南昌高新技 术产业开发区人民法院冻结 806.74 万元，具体内容详见公司于 2025 年 4 月 30 日披露的《江西沐邦高科股份有限公司关于公司募集资金账户资金被冻结的公 告》（公告编号：2025-049）。2025 年 5 月 26 日，南昌高新技术产业开发区人 民法院依法强制扣划公司募集资金账户资金 800.00 万元。截至本公告披露日， 公司募集资金账户因诺惠金融买卖借款合同纠纷累计被划扣 806.74 万元。 三、募集资金账户资金被司法划扣对公司的影响 截至本公告披露日，公司募集资金账户资金累计被划扣 13,012.62 万元。 证券代码：603398 证券简称：*ST 沐邦 公告编号：2025-063 江西沐邦高科股份有限公司 关于公司募集资金账户资金被司法划扣的公告 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、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 ...

江西沐邦高科股份有限公司 关于控股股东部分股份被冻结的公告 证券代码：603398 证券简称：*ST 沐邦 公告编号：2025-065 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： 1 | 控股 | | --- | 三、对公司的影响及风险提示 本次控股股东所持公司部分股份被冻结不会导致公司控制权发生变更，亦不 会对公司持续经营、公司治理产生重大不利影响。公司将持续关注上述事项的进 展情况，并将按照相关法律法规及规范性文件的要求及时履行信息披露义务。 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"）持有公司股份 87,540,610 股， 占公司总股本的 20.19%。本次部分股份被司法冻结后，沐邦新能源控股累计冻 结股份 2,363,264 股，占其持股数量的 2.70%，占公司总股本的 0.54%； 公司于近日收到控股股东沐邦新能源控股的通知，其持有的公司部分股份被 上海市浦东新区人民法院司法冻结，具体冻结原因尚在核查。现将相关事项公告 如 ...

证券代码：603398 证券简称：*ST 沐邦 公告编号：2025-064 江西沐邦高科股份有限公司 关于公司控股股东收到法院执行通知书的公告 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：执行阶段； ●上市公司控股股东所处当事人地位：被执行人； ●对上市公司影响：相关被质押的股份若被法院强制执行，可能引发公司控 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"）的后续被 动减持，非其主观意愿的减持行为。法院强制执行引发的后续被动减持存在减持 时间、减持数量、减持价格的不确定性，公司将严格遵守相关规定，及时履行信 息披露义务。敬请广大投资者谨慎决策，注意投资风险。 江西沐邦高科股份有限公司（以下简称"公司"）收到控股股东沐邦新能源 控股通知，其于近日收到江西省南昌市中级人民法院（以下简称"南昌中级人民 法院"）向其发出的（2025）赣 01 执 394 号《执行通知书》。相关情况公告如 下： 一、案件概况 2024 年 1 月 5 日，控股股东沐邦新能源控股与铜陵高新企 ...

国金证券股份有限公司 关于江西沐邦高科股份有限公司 募集资金专用账户部分资金被司法划扣的核查意见 沐邦高科近日通过自查，公司在中国农业银行股份有限公司南昌红谷滩支行 的募集资金专户（账号：1401****2730，以下简称"募集资金专户"）部分资金 被司法划扣。2025 年 5 月 26 日，该募集资金专户余额被司法划扣 800.00 万元， 占被划扣前募集资金余额比例为 3.44%1 。 二、银行账户被司法划扣的原因 公司与江西诺惠金融服务有限公司（以下简称"诺惠金融"）于 2024 年 3 月 签订了借款合同，因公司逾期未偿还全部借款和利息，南昌高新技术产业开发区 人民法院（以下简称"高新区法院"）作出诉前调解，后诺惠金融向高新区法院 申请强制执行。高新区法院于 2025 年 4 月 29 日出具了《执行通知书》（（2025） 赣 0191 执恢 294 号），冻结公司募集资金 806.74 万元。2025 年 5 月 26 日，高新 区法院依法强制扣划公司募集资金账户资金 800.00 万元，剩余 6.74 万元仍处于 冻结状态。 被司法划扣 800.00 万元后，截至 2025 年 5 月 27 日， ...

Fundraising Overview - The company raised a total of RMB 1,417,889,324.86 by issuing 91,007,017 shares at a price of RMB 15.58 per share, with a net amount of RMB 1,401,750,948.91 after deducting issuance costs [1] - The funds raised will be allocated to the acquisition of 100% equity in Inner Mongolia Haoan Energy Technology Co., Ltd. [2] Special Account Establishment - The company established a special fundraising account and signed a four-party supervision agreement involving the company, Jiangxi Bangbao Education Technology Co., Ltd., Jiangxi Anyi Rural Commercial Bank, and Guojin Securities [2][4] - The special account is specifically designated for the project of acquiring Inner Mongolia Haoan Energy Technology Co., Ltd. and cannot be used for other purposes [2] Supervision Agreement Details - The supervision agreement outlines the responsibilities of the parties involved in managing and using the raised funds, ensuring investor protection and compliance with relevant regulations [4][5] - Guojin Securities will conduct ongoing supervision and can utilize methods such as on-site investigations and written inquiries to monitor the use of funds [4][5]

上述募集资金到位情况已经大华会计师事务所（特殊普通合伙）进行了审验， 并于 2024 年 2 月 7 日出具了《江西沐邦高科股份有限公司发行人民币普通股（A 股）91,007,017 股后实收股本的验资报告》（大华验字[2024]0011000071 号）。 证券代码：603398 证券简称：*ST 沐邦 公告编号：2025-062 江西沐邦高科股份有限公司 关于增设募集资金专项账户 并签订四方监管协议的公告 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、募集资金基本情况 经中国证券监督管理委员会《关于同意江西沐邦高科股份有限公司向特定对 象发行股票注册的批复》（证监许可〔2023〕2928 号），江西沐邦高科股份有限 公司（以下简称"公司"）向 12 名特定投资者发行了 91,007,017 股人民币普通股 股票（A 股），发行价格为 15.58 元/股，共募集资金总额人民币 1,417,889,324.86 元，扣除发行费用（不含增值税）后，募集资金净额为 1,401,750,948.91 元，其 中计入股本 ...

二、募集资金账户资金被司法划扣的原因 2025 年 4 月公司募集账户因与诺惠金融买卖借款合同纠纷，被南昌高新技 术产业开发区人民法院冻结 806.74 万元，具体内容详见公司于 2025 年 4 月 30 日披露的《江西沐邦高科股份有限公司关于公司募集资金账户资金被冻结的公 告》（公告编号：2025-049）。2025 年 5 月 26 日，南昌高新技术产业开发区人 民法院依法强制扣划公司募集资金账户资金 800.00 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"）与江西 诺惠金融服务有限公司（以下简称"诺惠金融"）买卖借款合同纠纷一案，2025 年 5 月 26 日公司部分募集资金账户资金被司法划扣，划扣金额共计 8,000,000.00 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 | | - ...

Core Viewpoint - The report highlights the violations by Jiangxi Mubang High-Tech Co., Ltd. regarding the improper use of raised funds and non-operational fund occupation by related parties, necessitating corrective actions [1][11]. Group 1: Background and Findings - The special on-site inspection was conducted by Guojin Securities to investigate the misuse of raised funds and non-operational fund occupation by controlling shareholders and related parties [1]. - Abnormalities in prepaid accounts were noted, prompting the inspection from April 22 to April 30, 2025, and from May 12 to May 16, 2025 [1]. - The inspection revealed that funds were improperly used for non-investment projects, with a total of 261.44 million yuan misused, of which 229.68 million yuan occurred in 2024 [2][11]. Group 2: Specific Violations - In February 2024, 20 million yuan was transferred to the controlling shareholder through a series of transactions, constituting a violation of fund usage [3]. - In July, August, September, and November 2024, a total of 101.94 million yuan was prepaid to construction units, with part of the funds being used to repay loans and transferred to the controlling shareholder [3]. - In February 2025, 15 million yuan was improperly used from the raised funds for operational purposes [4]. Group 3: Recommendations and Corrective Actions - The company is required to report the amounts and periods of fund occupation by controlling shareholders and related parties within one month of the annual report disclosure [8]. - A qualified accounting firm should be engaged to verify the calculation of fund occupation fees and ensure compliance with disclosure obligations [8]. - The company must develop a solution for the improper use of raised funds within three months of the annual report disclosure and strengthen internal controls to prevent future violations [8][11].