Group 1 - The Shanghai Stock Exchange publicly reprimanded *ST Muban and related parties for violations in information disclosure and operational compliance, including significant accounting errors and misuse of raised funds [2] - The company’s major revenue sources for 2024 were identified, with photovoltaic products accounting for 79.13% of total revenue, followed by educational toys at 8.96%, and other businesses contributing 8.82% [3]

New Stock Issuance - The new stock issuance for Zhigao Machinery (证券代码: 920101) is priced at 17.41 CNY per share, effective from August 5, 2025[1] - China Heavy Industry (证券代码: 601989) has a cash option declaration period from August 13, 2025[1] - China Shipbuilding (证券代码: 600150) has a buyback request period from August 13 to August 15, 2025[1] Offer and Acquisition Periods - Shenkou Co., Ltd. (证券代码: 002633) has a tender offer period from July 29 to August 27, 2025[1] - ST Kelly (证券代码: 300326) has a tender offer period from July 17 to August 15, 2025[1] - Happiness Blue Ocean (证券代码: 300528) has a significant announcement on July 30, 2025[1] Market Volatility - There are reports of severe abnormal fluctuations for Tibet Tourism (证券代码: 600749) as of July 31, 2025[1] - ST Suwu (证券代码: 600200) also reported significant volatility on July 30, 2025[1] - The stock of ST YaTai (证券代码: 000691) is under observation for abnormal trading activities as of August 5, 2025[1]

Group 1: New Stock Offerings - Shenke Co., Ltd. (002633) has a tender offer period from July 29, 2025, to August 27, 2025[1] - ST Kelly (300326) has a tender offer period from July 17, 2025, to August 15, 2025[1] - ST Zitian (300280) has a tender offer period ending on July 21, 2025[1] Group 2: Market Alerts - Xizang Tourism (600749) reported severe abnormal fluctuations on July 31, 2025[1] - Tianlu Convertible Bonds (110060) announced significant market activity on July 30, 2025[1] - ST Suwu (600200) experienced unusual trading patterns on July 30, 2025[1] Group 3: Additional Announcements - Happiness Blue Ocean (300528) issued a notice on July 30, 2025, regarding market conditions[1] - Common Pharmaceutical (300966) provided updates on August 1, 2025, related to stock performance[1] - Dongjie Intelligent (300486) released a statement on August 1, 2025, concerning market volatility[1]

Core Viewpoint - Jiangxi Mubang High-tech Co., Ltd. has experienced abnormal stock price fluctuations, with a cumulative deviation of over 12% in closing prices over three consecutive trading days, prompting regulatory scrutiny [2][5]. Group 1: Stock Trading Abnormalities - The company's stock price showed a cumulative deviation of over 12% on July 30, 31, and August 1, 2025, indicating abnormal trading activity [5]. - The company conducted a self-examination and confirmed that there were no undisclosed significant matters affecting the stock price, including major asset restructuring or significant transactions [8][10]. Group 2: Financial and Operational Status - The company reported that its production and operational activities are normal, with no significant changes in market conditions or internal operations [7]. - The company disclosed a negative net profit for the fiscal year 2024, leading to a risk warning for its stock on May 6, 2025, due to revenues falling below 300 million yuan after excluding non-core business income [2]. Group 3: Legal and Regulatory Issues - The company has faced legal challenges, with a total of 227.59 million yuan in judicial deductions from its fundraising accounts, impacting project implementations [3][11]. - The company received a corrective order from the China Securities Regulatory Commission (CSRC) regarding non-operating fund occupation by its controlling shareholder, amounting to 46.06 million yuan [3][12]. - The CSRC has initiated an investigation into the company for suspected false disclosures in its annual reports and other periodic reports [3][13].

Core Viewpoint - The collective failure of five listed companies in the A-share market has exposed significant regulatory loopholes, resulting in substantial losses for 350,000 shareholders, highlighting a systemic issue rather than isolated incidents [1][3]. Group 1: Company Failures - The five companies involved—Sanfeng Intelligent, ST Wanfang, Ruibeka, Mubang Gaoke, and Taiyuan Heavy Industry—exhibited various forms of misconduct, including financial fraud, disclosure violations, and inflated annual reports [3]. - ST Wanfang, despite being under special treatment, continued to engage in misconduct, leading to an average loss of 60% for its 30,000 shareholders, with a critical risk of delisting [3]. - Mubang Gaoke attracted retail investors with a high ratio of stock conversion (10 to 4.8) but later inflated its annual report, leaving 26,000 shareholders with a stock price of 4.9 yuan, potentially incurring losses even on dividends [3]. - Ruibeka, a wig manufacturer, faced a plummeting stock price of 3.7 yuan as major shareholders sold off their stakes, resulting in significant losses for retail investors [3]. - Taiyuan Heavy Industry, despite its state-owned background, was implicated in disclosure irregularities, with a stock price of 2.6 yuan, leading to severe losses for its 100,000 shareholders [3]. - Sanfeng Intelligent's stock price surged by 200% earlier in the year, but institutional investors had already sold off their shares, leaving 170,000 retail investors vulnerable to losses [3]. Group 2: Regulatory Issues - Prior to the incidents, four of the five companies had received inquiries from the stock exchange, indicating a history of regulatory scrutiny [4]. - The regulatory response has been criticized as inadequate, with only a few scapegoats facing minor penalties, failing to deter future violations [4]. - The number of listed companies under investigation has increased by 40% year-on-year, while the number of delistings has decreased, suggesting a lack of effective regulatory action [4]. - There is a call for stronger third-party audits and accountability for financial advisors, emphasizing the need for stricter enforcement to protect investors [4]. - The current state of the A-share market requires investors to conduct extensive due diligence, as transparency remains a significant issue, potentially reducing the number of listed companies by half if fully implemented [4].

Core Viewpoint - Jiangxi Mubang High-tech Co., Ltd. has experienced abnormal stock trading fluctuations, with a cumulative closing price deviation of 12% over three consecutive trading days, leading to regulatory scrutiny and potential delisting risks [1][3]. Group 1: Stock Trading Fluctuations - The company's A-share stock has seen a cumulative closing price deviation of 12% over three consecutive trading days, qualifying as abnormal trading activity according to Shanghai Stock Exchange regulations [1]. - The company has conducted a self-examination and confirmed that there are no undisclosed significant information affecting the stock price, aside from what has already been disclosed [1][5]. Group 2: Financial Performance and Risks - The 2024 annual report revealed a negative net profit, with operating revenue below 300 million yuan after excluding non-core business income, resulting in a delisting risk warning effective May 6, 2025 [1][2]. - The company has received a negative opinion in its internal control audit report for 2024, leading to additional risk warnings [2]. - Legal issues have led to the freezing of bank accounts totaling approximately 27.75 million yuan, including 26.86 million yuan from the fundraising account, which may impact project implementation [2][3]. Group 3: Regulatory Actions - The company has been notified of an investigation by the China Securities Regulatory Commission (CSRC) due to suspected false disclosures in financial reports [3][7]. - As of June 2025, non-operating fund occupation by the controlling shareholder and related parties reached 81.32 million yuan, exceeding 5% of the company's latest audited net assets, which may lead to further regulatory actions if not resolved within one month [2][6]. Group 4: Corporate Governance - The board of directors has confirmed that there are no undisclosed matters that should have been reported according to the Shanghai Stock Exchange regulations, and previous disclosures do not require correction or supplementation [8].

证券代码：603398 证券简称：*ST 沐邦 公告编号：2025-087 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个别及连带责任。 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 日收盘价格涨幅偏离值累计达到 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的情形。 经公司自查，并书面征询公司控股股东、实际控制人，除已披露信息外， 截至本公告披露日，不存在应披露而未披露的重大信息。 公司于 2025 年 4 月 30 日披露了《江西沐邦高科股份有限公司 2024 年年 度报告》。因公司 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》规定，公司《2024 年年度报告》披露后，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 ...

金融界消息 截至2025年7月31日收盘，*ST沐邦（603398）报收于5.02元，上涨3.29%，换手率9.12%， 成交量39.55万手，成交金额2.00亿元。 资金流向方面，今日主力资金净流入3198.56万元，占比成交额16.0%。其中，超大单净流入1091.08万 元、占成交额5.46%，大单净流入2107.48万元、占成交额10.54%，中单净流出流出1635.01万元、占成 交额8.18%，小单净流出1563.55万元、占成交额7.82%。 *ST沐邦最新一期业绩显示，截至2025一季报，公司营业总收入6027.79万元、同比减少59.28%，归属净 利润9948.61万元，同比减少18.56%，扣非净利润9970.74万元，同比减少14.56%，流动比率0.359、速动 比率0.278、资产负债率76.60%。 天眼查商业履历信息显示，江西沐邦高科股份有限公司，成立于2003年，位于南昌市，是一家以从事医 药制造业为主的企业。企业注册资本43364.1524万人民币，实缴资本14344.86万人民币。公司法定代表 人为廖志远。 通过天眼查大数据分析，江西沐邦高科股份有限公司共对外投资了8家企 ...

国金证券股份有限公司 关于江西沐邦高科股份有限公司 未能按期归还临时补充流动资金的闲置募集资金的核查意见 国金证券股份有限公司（以下简称"国金证券"或"保荐人"）作为江西沐邦高 科股份有限公司（以下简称"沐邦高科"或"公司" ）向特定对象发行股票的保荐人， 根据《证券发行上市保荐业务管理办法》 《上海证券交易所股票上市规则》 《上市公司 募集资金监管规则》《上海证券交易所上市公司自律监管指引第 1 号——规范运作》 等相关法律、法规和规范性文件的规定，对沐邦高科未能按期归还临时补充流动资金 的闲置募集资金的情况进行了核查，具体情况如下： 一、募集资金基本情况 根据中国证监会出具的《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），公司向特定对象发行人民币普通股 扣除不含增值税发行费用人民币 16,138,375.95 元后，实际募集资金净额为人民币 款人民币 1,405,301,480.90 元已全部到账。大华会计师事务所（特殊普通合伙）对募 集资金到位情况进行了审验并出具了《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 ...

Group 1 - The core point of the article is the review of the share pledge, unpledging, and freezing of shares by the controlling shareholder of Jiangxi Mubang High-Tech Co., Ltd. [1][10] - Jiangxi Mubang New Energy Holding Co., Ltd. unpledged 40,183,006 shares, accounting for 45.90% of its holdings and 9.27% of the company's total share capital [1][2] - The remaining pledged shares amount to 33,116,994 shares, which is 37.83% of the shares held by the controlling shareholder and 7.64% of the company's total share capital [1][2] Group 2 - The controlling shareholder pledged 10 million shares to Jinko Power Technology Co., Ltd. to secure its debt [4][5] - A total of 1,000,000 shares were pledged to Shenzhen Zhizhuo Investment Consulting Partnership as collateral for a loan of 50 million yuan [6][7] - The controlling shareholder's shares are subject to judicial freezing due to a lawsuit filed by Shenzhen Zhizhuo for overdue repayment [6][7] Group 3 - The controlling shareholder has occupied company funds amounting to 107.19 million yuan as of December 31, 2024, and 46.06 million yuan as of June 30, 2025 [8][11] - The total number of shares pledged and frozen due to debts related to Shenzhen Zhizhuo is 10,470,610 shares, which is 11.96% of the total share capital [7][9] - If the controlling shareholder fails to repay debts, it may lead to adverse effects on the company's operations and governance [9][11]