随着光伏行业从拼装机，进入拼技术、成本与现金流的淘汰赛，昔日扎堆签约的扩产项目开始遭遇履约 考验。 *ST沐邦（603398.SH）日前公告，1月23日，梧州市人民政府下发行政决定书，责令公司在收到决定书 之日10日内，向广西梧州高新技术产业开发区管理委员会和粤桂合作特别试验区梧州管委会财政金融局 退回共5.1亿元的项目财政补助及建设扶持款，并支付5100万元违约金。 *ST沐邦与梧州市政府的纠葛可追溯到2022年7月。当时，双方签署项目投资合同书，拟投资52亿元在 广西梧州高新技术产业开发区内建设年产能10吉瓦（GW）的光伏电池生产基地。次年12月，梧州市人 民政府向*ST沐邦及其子公司分别拨付了2.7亿元财政补助款和2.4亿元项目建设扶持款。不过由于项目 实际建设屡屡滞后、长期未能投产，梧州市政府于2025年7月下发事先告知书，责令*ST沐邦退及子公 司退还5.1亿元资金并承担违约责任。 无独有偶，"光伏组件第一股"亿晶光电（600537.SH）去年12月末公告，其滁州光伏项目因建设落地滞 后，项目合作方全椒县对公司发出听证通知，拟解除相关投资协议、追回1.4亿元出资款。 1月5日，棒杰股份（002634 ...

2023年下半年起，光伏产能过剩问题凸显，业内减产、控产呼声不断。 随着光伏行业从拼装机，进入拼技术、成本与现金流的淘汰赛，昔日扎堆签约的扩产项目开始遭遇履约 考验。 *ST沐邦（603398.SH）日前公告，1月23日，梧州市人民政府下发行政决定书，责令公司在收到决定书 之日10日内，向广西梧州高新技术产业开发区管理委员会和粤桂合作特别试验区梧州管委会财政金融局 退回共5.1亿元的项目财政补助及建设扶持款，并支付5100万元违约金。 "地方政府对光伏产业的支持主要体现在财政补贴、税收优惠、融资便利、土地保障和产业引导五大维 度。"南开大学金融发展研究院院长田利辉在接受第一财经记者采访时表示，这些政策在产业培育期发 挥了"孵化器"作用，推动中国光伏快速实现规模化生产与技术迭代。 不过，部分地方在快速推进项目时，却忽视了行业产能过热和企业自身风险问题。 *ST沐邦与梧州市政府的纠葛可追溯到2022年7月。当时，双方签署项目投资合同书，拟投资52亿元在 广西梧州高新技术产业开发区内建设年产能10吉瓦（GW）的光伏电池生产基地。次年12月，梧州市人 民政府向*ST沐邦及其子公司分别拨付了2.7亿元财政补助款和2.4 ...

Core Viewpoint - The company has received an administrative decision from the Wuzhou Municipal Government, requiring the return of a total of RMB 510 million in financial subsidies and support funds, along with a penalty of RMB 51 million, which may significantly impact its financial status and cash flow [1][2][3]. Group 1: Case Progress and Main Content - On January 23, 2026, the Wuzhou Municipal Government issued an administrative decision requiring the company to return RMB 270 million in subsidies for the "10GWTOPCON photovoltaic cell production base" and RMB 240 million in support funds for major industrial projects, along with a penalty of RMB 51 million [1][2]. - The company and its subsidiary, Guangxi Mubang, are the parties involved in this administrative decision, which mandates the return of financial subsidies and support funds [1][2]. - The total amount to be returned, including penalties, is RMB 510 million, which poses a significant financial burden on the company [1][2][3]. Group 2: Impact on the Company - If the company complies with the decision, it is expected to have a substantial adverse effect on the company's current and future profits, cash flow, and overall financial condition [1][3]. - The ongoing situation may lead to project stagnation, adversely affecting the company's strategic layout and capacity building in the photovoltaic cell sector [4]. - The company may face legal risks if it fails to comply with the decision, potentially leading to court-enforced actions [5]. Group 3: Measures Taken by the Company - The company is actively researching the content of the decision and is in communication with the Wuzhou Municipal Government to seek a resolution while ensuring the protection of its and its shareholders' rights [6]. - The company is evaluating its financial arrangements and is working to secure funds to address the situation appropriately [6].

以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成 投资建议。 *ST沐邦(603398.SH)公告称，梧州市人民政府下发《梧州市人民政府行政决定书》，责令公司向广西梧 州高新技术产业开发区管理委员会退回2.7亿元财政补助款，向粤桂合作特别试验区梧州管委会财政金 融局退回2.4亿元扶持款，并支付违约金5100万元。公司需在收到决定书之日起10日内履行上述款项的 退还及支付义务。若公司最终退还相关款项且支付违约金，预计将对公司本期及期后利润、现金流及财 务状况构成重大不利影响。 ...

证券代码：603398 证券简称：*ST 沐邦 公告编号：2026-003 公司将持续积极推进沟通，审慎应对相关风险，并依法及时履行信息披露义 务。敬请投资者注意投资风险。 江西沐邦高科股份有限公司（以下简称"公司"）及控股子公司广西沐邦高科新 能源有限公司（以下简称"广西沐邦"）近期收到梧州市人民政府下发的《梧州市人 民政府行政决定书》（(2026)行决字第 1 号，以下简称"《决定书》"）。现将相关 事项的最新进展情况告知如下： 江西沐邦高科股份有限公司 关于重大合同违约进展及风险提示的公告 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。 重要内容提示： 案件进展及主要内容：2026 年 1 月 23 日，本案已由梧州市人民政府下发《梧 州市人民政府行政决定书》（(2026)行决字第 1 号），责令公司向广西梧州高新技术 产业开发区管理委员会原路退回 2.7 亿元"10GWTOPCON 光伏电池生产基地财政补 助款"、向粤桂合作特别试验区梧州管委会财政金融局原路退回 2.4 亿元"重大工业 项目建设扶持款"并支付违约金 5 ...

每经AI快讯，1月26日，*ST沐邦（603398）(603398.SH)公告称，梧州市人民政府下发《梧州市人民政 府行政决定书》，责令公司向广西梧州高新技术产业开发区管理委员会退回2.7亿元财政补助款，向粤 桂合作特别试验区梧州管委会财政金融局退回2.4亿元扶持款，并支付违约金5100万元。公司需在收到 决定书之日起10日内履行上述款项的退还及支付义务。若公司最终退还相关款项且支付违约金，预计将 对公司本期及期后利润、现金流及财务状况构成重大不利影响。 ...

Summary of Key Points Core Viewpoint - Jiangxi Mubang High-Tech Co., Ltd. faces significant financial challenges, including a negative net profit for 2024 and revenue below 300 million yuan, leading to a risk of delisting from the stock market starting May 6, 2025 [1][3]. Trading Information - On January 6, 2026, *ST Mubang (603398) closed at 9.06 yuan, up 4.38%, with a turnover rate of 3.62%, trading volume of 156,800 shares, and a transaction value of 141 million yuan [1]. - The net inflow of main funds was 4.87 million yuan, accounting for 3.46% of the total transaction value, while retail investors saw a net outflow of 4.60 million yuan, representing 3.27% of the total transaction value [1]. Company Announcements - The company announced that due to a negative net profit for 2024 and revenue below 300 million yuan, its stock will be subject to delisting risk warnings starting May 6, 2025 [1][3]. - The company is under investigation by the China Securities Regulatory Commission (CSRC) for suspected violations of information disclosure laws, with no conclusive opinions available yet [1][3]. - For the period of January to September 2025, the company reported a net loss of 355.72 million yuan, and if financial indicators do not improve, the stock may be delisted [1][3].

公司于 2025 年 11 月 21 日披露了《江西沐邦高科股份有限公司关于法院决 定对公司启动预重整并指定临时管理人的公告》（公告编号：2025-144），南昌 中院对公司启动预重整，不代表正式受理申请人对公司的重整申请。截至本公告 披露日，公司尚未收到南昌中院关于受理重整申请的相关法律文书，即申请人的 重整申请能否被法院受理、公司能否进入重整程序均存在不确定性，重整是否成 功也存在重大不确定性。根据《上海证券交易所股票上市规则》相关规定，若法 院裁定受理申请人对公司的重整申请，公司股票将被叠加实施退市风险警示。公 司提醒广大投资者注意相关投资风险。 三、公司存在终止上市风险 江西沐邦高科股份有限公司（以下简称"公司"）近期股价涨幅较大，偏离 基本面，敬请广大投资者注意二级市场交易风险，理性决策，审慎投资。相关风 险提示如下： 一、股票交易近期涨幅较大 公司股票自 2025 年 12 月 18 日至今，累计涨幅 23.27%，其中三个交易日涨 停。公司目前生产经营未发生重大变化，股价短期内上涨过快，脱离基本面，存 在下跌风险。敬请广大投资者注意二级市场交易风险，理性决策，审慎投资。 二、公司能否进入重整程序 ...

Core Viewpoint - The company's stock has increased by 23.27% since December 18, 2025, with three consecutive trading days of limit-up, despite unchanged production and operations, indicating a disconnection from the fundamentals [1] Financial Performance - For the period of January to September 2025, the company reported revenue of 226.82 million yuan and a net loss of 355.72 million yuan [1] - If the annual revenue for 2025 falls below 300 million yuan and profits remain negative, the company will face delisting after the annual report is disclosed [1] Legal and Regulatory Issues - The company and its actual controller, Liao Zhiyuan, are under investigation, with the outcome currently unknown [1] - The announcement of a pre-restructuring does not imply that the company has entered a restructuring process, and the acceptance and success of such a process remain uncertain [1]

Core Viewpoint - The company is facing significant financial challenges, including a negative net profit for 2024 and a risk of delisting due to low revenue and internal control issues [2][3][12]. Group 1: Delisting Risk Warning - The company reported a negative net profit for 2024, and its revenue, after excluding unrelated business income, fell below 300 million yuan, triggering a delisting risk warning effective May 6, 2025 [2][3]. - The company received a negative opinion on its 2024 internal control audit report, which also leads to a risk warning effective May 6, 2025 [4][3]. Group 2: Other Risk Warnings - The company has been flagged for other risks due to non-operational fund occupation by its controlling shareholder and related parties, exceeding 10 million yuan, which was not resolved within one month [4]. - The company announced that the non-operational fund occupation has been cleared as of November 21, 2025 [7]. Group 3: Measures Taken - The company is focusing on controlling liquidity risks, enhancing budget management, and improving operational efficiency while maintaining stability in its core solar product business [5]. - The company is committed to strengthening internal controls and has initiated a comprehensive review and rectification of its internal control systems [7]. - The company has increased compliance training and is enhancing governance execution effectiveness to prevent future non-operational fund occupations [8]. Group 4: Financial Performance - For the first nine months of 2025, the company reported revenue of 226.82 million yuan and a net loss of 355.72 million yuan [12]. - The company faces the risk of being delisted if its 2025 revenue remains below 300 million yuan and if it receives a negative audit opinion [12][13]. Group 5: Legal and Regulatory Issues - The company is currently under investigation by the China Securities Regulatory Commission for alleged financial data misrepresentation [14]. - The actual controller of the company is also under investigation for failing to disclose non-operational fund transactions [14].