Group 1 - The core point of the article is that Jinchuan Group (603680.SH) announced a significant share reduction by China Railway Transportation Co. Limited, which decreased its stake in the company from 19.48% to 18.04% [1] - The share reduction involved a total of 11.305 million shares, representing 1.44% of the company's total equity [1] - This equity change occurred between November 10 and November 26, 2025, and it triggered a change that touched the 1% threshold [1]

证券代码：603680 证券简称：今创集团 公告编号：2025-043 今创集团股份有限公司 关于持股 5%以上股东权益变动触及 1%刻度的 提示性公告 本公司董事会及全体董事保证公告内容与信息披露义务人提供的信息 一致。 重要内容提示： 权益变动方向 比例增加□ 比例减少 权益变动前合计比例 19.48% 权益变动后合计比例 18.04% 本次变动是否违反已作出的承 诺、意向、计划 是□ 否 是否触发强制要约收购义务 是□ 否 一、 信息披露义务人及其一致行动人的基本信息 1.身份类别 | | □控股股东/实际控制人及其一致行动人 | | --- | --- | | | 其他 5%以上大股东及其一致行动人 | | 投资者及其一致行动人的身份 | □合并口径第一大股东及其一致行动人（仅适用 | | | 于无控股股东、实际控制人） | | | □其他______________（请注明） | 二、权益变动触及 1%刻度的基本情况 2025 年 11 月 26 日，公司收到 China Railway Transportation Co. Limited 的通 知，其于 2025 年 11 月 10 日至 11 ...

Core Viewpoint - The rail transit equipment sector experienced a slight decline of 0.02% on November 26, with notable movements in individual stocks, particularly a drop in Jiao Da Si Nuo [1] Stock Performance Summary - The Shanghai Composite Index closed at 3864.18, down 0.15%, while the Shenzhen Component Index rose to 12907.83, up 1.02% [1] - Key performers in the rail transit equipment sector included: - Gongda Gaoke (688367) with a closing price of 28.85, up 7.49% on a trading volume of 71,300 shares and a turnover of 202 million yuan - Jinchuan Group (603680) closed at 11.12, up 2.30% with a trading volume of 156,600 shares and a turnover of 175 million yuan - China CRRC (601766) closed at 7.27, up 0.55% with a trading volume of 850,900 shares and a turnover of 615 million yuan - Other notable stocks included China Railway Materials (000927) and Bide Technology (605298) with minor gains [1] Capital Flow Analysis - The rail transit equipment sector saw a net outflow of 6.0048 million yuan from institutional investors, while retail investors experienced a net outflow of 46.4598 million yuan, indicating a mixed sentiment in the market [2] - Notable capital flows for specific stocks included: - China CRRC had a net inflow of 1.05 billion yuan from institutional investors, but a net outflow of 15.3307 million yuan from retail investors [3] - Jinchuan Group saw a net inflow of 490.52 million yuan from retail investors, while experiencing a minor outflow from institutional investors [3]

Core Insights - The rail transit equipment sector experienced a slight increase of 0.04% on November 25, with Jinchuang Group leading the gains [1] - The Shanghai Composite Index closed at 3870.02, up 0.87%, while the Shenzhen Component Index closed at 12777.31, up 1.53% [1] Stock Performance - Jinchuang Group (603680) closed at 10.87, with a rise of 5.64% and a trading volume of 107,500 shares, totaling a transaction value of 116 million yuan [1] - Tianzhi New Material (688033) closed at 5.77, up 3.96%, with a trading volume of 210,500 shares, totaling 120 million yuan [1] - Industrial University High-Tech (688367) closed at 26.84, increasing by 3.63%, with a trading volume of 63,400 shares, totaling 171 million yuan [1] - Other notable stocks include Dinghan Technology (300011) at 8.60 (+2.63%) and Jiuzhou Yitui (688485) at 15.31 (+2.48%) [1] Capital Flow - The rail transit equipment sector saw a net inflow of 173 million yuan from institutional investors, while retail investors experienced a net outflow of 153 million yuan [2][3] - Major stocks like China CRRC (601766) had a net inflow of 94.1 million yuan from institutional investors, but a net outflow of 57.4 million yuan from retail investors [3] - Jinchuang Group (603680) had a net inflow of 21.8 million yuan from institutional investors, with a significant outflow of 21.5 million yuan from retail investors [3]

Group 1 - The core viewpoint of the news is that Jinchuang Group's stock has seen a significant increase of 5.73%, reaching a price of 10.88 CNY per share, with a total market capitalization of 8.527 billion CNY [1] - Jinchuang Group, established on March 26, 2003, and listed on February 27, 2018, specializes in the research, production, sales, and services of rail transit vehicle supporting products [1] - The company's main business revenue composition includes 97.07% from product sales, 1.68% from other income, and 1.25% from leasing income [1] Group 2 - Among the top ten circulating shareholders of Jinchuang Group, a fund under China Merchants Fund, specifically the China Merchants Quantitative Selected Stock Initiation A (001917), has newly entered the list in the third quarter, holding 1.7574 million shares, which accounts for 0.22% of the circulating shares [2] - The China Merchants Quantitative Selected Stock Initiation A fund was established on March 15, 2016, with a latest scale of 3.663 billion CNY, and has achieved a year-to-date return of 31.18%, ranking 1044 out of 4206 in its category [2] - The fund manager, Wang Ping, has a cumulative tenure of 15 years and 161 days, with the fund's total asset scale at 21.247 billion CNY, achieving a best return of 247.72% during his tenure [2]

证券代码：603680 证券简称：今创集团 公告编号：2025-042 今创集团股份有限公司 关于召开 2025 年第三季度业绩说明会的公告 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： 投资者可于 2025 年 11 月 24 日（星期一）至 11 月 28 日（星期 五）16:00 前登录上证路演中心网站首页点击"提问预征集"栏目或 通过公司邮箱 securities@ktk.com.cn 进行提问。公司将在说明会上对 投资者普遍关注的问题进行回答。 今创集团股份有限公司（以下简称"公司"）已于 2025 年 10 月 29 日发布公司 2025 年第三季度报告，为便于广大投资者更全面深入 地了解公司 2025 年第三季度经营成果、财务状况，公司计划于 2025 年 12 月 01 日（星期一）13:00-14:00 举行 2025 年第三季度业绩说明 会，就投资者关心的问题进行交流。 一、 说明会类型 三、 参加人员 董事长：俞金坤先生 本次投资者说明会以网络互动形式召开，公司将针对 2025 年第 会 ...

Core Insights - As of November 19, a total of 90 stocks in the Shanghai and Shenzhen markets have experienced net buying from major funds for five consecutive days or more [1] - The stocks with the longest streak of net buying are CITIC Bank and Galaxy Microelectronics, both achieving 16 consecutive trading days of net inflow [1] - Other notable stocks with significant net buying days include Lianrui New Materials, Suzhou Kedah, Mingxin Xuteng, Tongling Co., Datang Power, Shimao Energy, Jinchuan Group, and Tongfang Co. [1]

证券代码：603680 证券简称：今创集团 公告编号：2025-041 今创集团股份有限公司 关于变更签字注册会计师的公告 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。 今创集团股份有限公司（以下简称"公司"）于 2025 年 4 月 28 日和 2025 年 5 月 26 日分别召开了第五届董事会第九次会议和 2024 年年度股东大会，审议通 过了《关于续聘会计师事务所的议案》，同意续聘上会会计师事务所(特殊普通合 伙)为公司 2025 年度财务报告和内部控制的审计机构。具体内容详见公司于 2025 年 4 月 29 日在上交所网站(www.sse.com.cn)披露的《今创集团股份有限公司关于 续聘会计师事务所的公告》(公告编号：2025-013)。 近日，公司收到上会会计师事务所(特殊普通合伙)(以下简称"上会")出具 的《变更 2025 年度审计报告签字注册会计师的告知函》，现就相关情况公告如下: 一、签字注册会计师的变更情况 上会作为公司 2025 年年度财务报告和内部控制的审计机构，原指派唐家波 先生、付瑞 ...

Core Viewpoint - The rail transit equipment sector experienced a slight decline of 0.07% on November 10, with Tianyi New Materials leading the losses, while the Shanghai Composite Index rose by 0.53% and the Shenzhen Component Index increased by 0.18% [1] Summary by Category Market Performance - The rail transit equipment sector's performance was mixed, with individual stocks showing varied results in terms of price changes and trading volumes [1] - The closing prices and percentage changes of key stocks in the sector were as follows: - Gongda Gaoke: 23.77, +5.88% - China Communication Signal: 5.50, +2.23% - Xianghe Industry: 12.49, +1.71% - Zhonghe Technology: 8.23, +1.48% - Tieke Railway: 22.76, +1.47% - Shenzhou High-speed Railway: 3.00, +1.35% - Jiuzhou Yitui: 15.44, +1.11% - Yonggui Electric: 18.38, +1.10% - Changqing Technology: 20.22, +0.50% - Jiaokong Technology: 24.11, +0.42% [1] Stock Declines - Tianzhi New Materials saw the largest decline at -13.63%, followed by other notable declines: - Leirwei: -3.39% - Kanni Electromechanical: -2.03% - Bidetech: -1.61% - Tongke Technology: -1.40% - Quandu Heavy Industry: -1.17% [2] Capital Flow - The rail transit equipment sector experienced a net outflow of 110 million yuan from institutional investors, while retail investors saw a net inflow of 7.1352 million yuan [2] - The capital flow for key stocks indicated: - Shenzhou High-speed Railway: 12.2845 million yuan net inflow from institutions - Changqing Technology: 8.4701 million yuan net inflow from institutions - Gongda Gaoke: 8.2147 million yuan net inflow from institutions [3]

Core Insights - The Wuhan Rail Transit Base is expanding its industrial chain from solely manufacturing new trains to include maintenance and repair services, with over half of the 92 resident companies involved in maintenance operations [2] - The maintenance costs over the lifecycle of a train are estimated to be twice that of the new train price, indicating a more stable and sustainable revenue stream compared to new train manufacturing [2] - The annual maintenance market size in Wuhan is projected to exceed 1 billion yuan, driven by an increasing number of trains and an expanding operational network [2] Company Insights - Wuhan Jinchuang and Langjin Technology recently received maintenance orders for the Wuhan Rail Transit lines 3, 4, and 6, highlighting the growing demand for maintenance services [2] - Jinchuang Group, established in April 2023, is recognized as a leading global manufacturer of rail transit equipment, holding over 80% market share in the national market [4] - The Wuhan Rail Transit Base has successfully attracted 185 companies into its project library, with 142 registered and 92 signed, establishing itself as a hub for rail transit enterprises [4] Industry Insights - The maintenance and repair business is expected to become a new growth point for companies in the Wuhan Rail Transit Base as the new train market becomes saturated [4] - The operational mileage of Wuhan's metro has surpassed 400 kilometers, with a fleet of over 3,000 trains, necessitating regular maintenance to ensure operational efficiency [2]