证券代码：603825 证券简称：ST 华扬 公告编号：2026-008 华扬联众数字技术股份有限公司 | | 对外担保总额超过最近一期经审计净资产 □担保金额超过上市公司最近一期经审计净 | | --- | --- | | | 100% | | 特别风险提示（如有请勾选） | 资产 50% | | | 对合并报表外单位担保金额达到或超过最 | | | 近一期经审计净资产 30% | | | □对资产负债率超过 70%的单位提供担保 | | 其他风险提示（如有） | 无 | 注：以上担保总额为已批准的担保额度内尚未使用额度与担保实际发生余额之和。 一、担保情况概述 （一）担保的基本情况 关于向控股股东提供反担保暨关联交易的进展公告 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： 担保对象及基本情况 | | | 被担保人名称 | 湖南湘江新区发展集团有限公司 （以下简称"湘江集团"） | | --- | --- | --- | --- | | 保 | 对 | 被担保人关联关系 | 控股股东、实际控制人及其控 ...

Core Viewpoint - The Shanghai Stock Exchange issued a regulatory work letter regarding the performance forecast of Huayang Lianzhong Digital Technology Co., Ltd., indicating expected significant losses for the fiscal year 2025 [1][2]. Group 1: Company Performance - Huayang Lianzhong (ST Huayang, stock code 603825) anticipates a net profit attributable to shareholders of the listed company for 2025 to be between -700 million yuan and -590 million yuan, indicating a loss [2]. - The expected net profit after deducting non-recurring gains and losses for 2025 is projected to be between -720 million yuan and -610 million yuan [2]. Group 2: Historical Context - On June 18, 2020, ST Huayang reached its highest stock price of 38.89 yuan since its listing [2]. - Anxin Securities analyst Chen Min maintained a "Buy-A" rating for Huayang Lianzhong in a report published on June 16, 2020, emphasizing the company's transformation and new channel operations [2]. Group 3: Corporate Changes - Anxin Securities announced on December 8, 2023, that it completed the registration of a name change, with the company now named Guotou Securities Co., Ltd. [2].

Group 1 - The core point of the announcement is the resolution of the first extraordinary general meeting of shareholders held by Huayang Lianzhong Digital Technology Co., Ltd. on January 26, 2026, with no rejected proposals [2] - The meeting was convened in accordance with the Company Law and the company's articles of association, with the chairman attending via telecommunication due to work commitments [2][5] - The meeting was attended by all seven current directors and the board secretary, along with some senior management personnel [3][4] Group 2 - One of the key resolutions passed was regarding the termination of fundraising investment projects and the permanent allocation of remaining funds to supplement working capital [5] - The meeting was witnessed by Hunan Qiyuan Law Firm, with lawyers confirming the legality of the meeting's procedures and outcomes [6]

| 1、出席会议的股东和代理人人数 | 232 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 110,679,064 | | 3、出席会议的股东所持有表决权股份数占公司有表决权股 | | | 份总数的比例（%） | 43.6885 | (四) 表决方式是否符合《公司法》及《公司章程》的规定，会议主持情况等。 本次会议由公司董事会召集，董事长张利刚先生因工作原因以通讯方式出席 本次会议，未能现场主持本次会议，经过半数以上董事推举，由副董事长杨家庆 证券代码：603825 证券简称：ST 华扬 公告编号：2026-007 华扬联众数字技术股份有限公司 2026年第一次临时股东会决议公告 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： 本次会议是否有否决议案：无 一、 会议召开和出席情况 (一) 股东会召开的时间：2026 年 1 月 26 日 (二) 股东会召开的地点：湖南省长沙市岳麓区天顶街道环湖路 1177 号方茂苑 （二期）13 栋房产 917 室 (三) 出席会议的 ...

(三)本所未授权任何单位或个人对本法律意见书作任何解释或说明。 湖南启元律师事务所 关于华扬联众数字技术股份有限公司 2026年第一次临时股东会的 法律意见书 2026年1月 no and real to the below 致:华扬联众数字技术股份有限公司 湖南启元律师事务所(以下简称"本所")接受华扬联众数字技术股份有限公 司(以下简称"公司")的委托,指派本所律师出席公司 2026年第一次临时股东 会(以下简称"本次股东会")进行法律见证。根据《中华人民共和国公司法》(以 下简称"《公司法》")、《中华人民共和国证券法》等我国现行法律法规、规范 性文件以及《华扬联众数字技术股份有限公司章程》(以下简称"《公司章程》") 等有关规定,本所律师对本次股东会的召集和召开程序、出席会议人员资格、召 集人的资格及会议表决程序、表决结果等事项出具本法律意见书。 本所及本所律师声明如下: (一)本所律师根据本法律意见书出具日以前已经发生或者存在的事实,严 格履行了法定职责,遵循了勤勉尽责和诚实信用原则,进行了充分的核查验证, 保证本法律意见书所认定的事实真实、准确、完整,所发表的结论性意见合法、 准确,不存在虚假记载 ...

Core Viewpoint - As of January 22, a total of 15 ST stocks have announced their annual performance forecasts, with 1 company expecting profit, 7 companies expecting reduced losses, and 5 companies expecting losses [1] Group 1: Performance Forecasts - The company with the highest expected loss is ST Changyuan, with an estimated loss of 1.08 billion yuan, followed by ST Saiwei and ST Dongshi, with expected losses of 720 million yuan and 600 million yuan respectively [1] - The detailed performance forecasts for ST stocks include: - *ST Huawei: Expected profit of 175 million yuan to 145 million yuan, with a year-to-date change of +6.28% [1] - ST Yuanzhi: Expected profit of 110 million yuan to 90 million yuan, with a year-to-date change of +16.82% [1] - *ST Tianze: Expected profit of 30 million yuan to 27 million yuan, with a year-to-date change of +7.96% [1] - ST Hongda: Expected reduced loss of 16 million yuan to 24 million yuan, with a year-to-date change of +9.40% [1] - *ST Yatai: Expected reduced loss of 28.39 million yuan to 51.46 million yuan, with a year-to-date change of +27.80% [1] - ST Ningke: Expected reduced loss of 75 million yuan to 100 million yuan, with a year-to-date change of -6.02% [1] - *ST Huawang: Expected reduced loss of 180 million yuan to 240 million yuan, with a year-to-date change of -6.46% [1] - *ST Changyao: Expected reduced loss of 350 million yuan to 520 million yuan, with a year-to-date change of -26.44% [1] - *ST Zhanggu: Expected reduced loss of 450 million yuan to 550 million yuan, with a year-to-date change of -6.57% [1] - ST Huayang: Expected loss of 590 million yuan to 700 million yuan, with a year-to-date change of +4.75% [1] - ST Dongshi: Expected reduced loss of 600 million yuan to 700 million yuan, with a year-to-date change of +2.93% [1] - ST Saiwei: Expected loss of 720 million yuan to 1.02 billion yuan, with a year-to-date change of +44.61% [1] - ST Changyuan: Expected loss of 1.08 billion yuan to 1.45 billion yuan, with a year-to-date change of +24.93% [1] - *ST Yanshi: Expected loss, no specific figures provided, with a year-to-date change of -22.76% [1] - *ST Wanfang: Expected loss, no specific figures provided, with a year-to-date change of -24.79% [1]

Core Viewpoint - As of January 20, a total of 10 ST stocks have announced their annual performance forecasts, with 1 company expecting profit, 4 companies expecting losses, and 3 companies expecting reduced losses [1] Group 1: Performance Forecasts - The company with the highest expected loss is ST Changyuan, forecasting a minimum loss of 1.08 billion yuan, followed by ST Huayang and *ST Zhanggu, with expected losses of 590 million yuan and 450 million yuan respectively [1] - The performance forecast details show that *ST Hua is expecting a profit increase with a projected net profit range of 145 million to 175 million yuan, while ST Yuanzhijia is also expecting a profit increase with a range of 90 million to 110 million yuan [1] - *ST Tianze is forecasting a profit with an expected net profit range of 27 million to 30 million yuan [1] Group 2: Loss Reduction - ST Ningke is expecting a reduced loss of between 75 million and 100 million yuan, while *ST Huawang is forecasting a reduced loss of between 180 million and 240 million yuan [1] - *ST Zhanggu is also expecting a reduced loss, with a forecasted range of 450 million to 550 million yuan [1] Group 3: Industry Performance - The industries represented include electronics, machinery, media, basic chemicals, construction decoration, and social services, with varying performance trends across these sectors [1] - The highest increase in stock price this year is seen in ST Changyuan, with a rise of 24.93%, while *ST Yanshi and *ST Wanfang have experienced declines of 14.48% and 16.45% respectively [1]

Core Viewpoint - The company, Huayang Lianzhong Digital Technology Co., Ltd., is forecasting a significant net loss for the fiscal year 2025, with expected losses ranging from 590 million to 700 million yuan [2][3]. Financial Performance Forecast - The company anticipates a net profit attributable to shareholders of the listed company for 2025 to be between -700 million yuan and -590 million yuan [2][3]. - The expected net profit after deducting non-recurring gains and losses is projected to be between -720 million yuan and -610 million yuan [2][3]. Previous Year Comparison - In the same period last year, the net profit attributable to the parent company was -546.5647 million yuan, and the net profit after deducting non-recurring gains and losses was -527.7867 million yuan [5]. - The earnings per share for the previous year were -2.16 yuan [6]. Reasons for Expected Loss - The primary reasons for the anticipated losses include intensified industry competition and ongoing adjustments in the industry landscape, which have slowed revenue growth [7]. - The company is undergoing a business transformation and structural adjustment, which has led to necessary investments impacting current operating performance, resulting in a phase of operational losses [7]. - The company is implementing cost reduction and efficiency enhancement measures while optimizing its business structure, including divesting underperforming units and acquiring stable profit-generating assets [7]. - The company is conducting impairment tests on assets showing signs of impairment, leading to increased provisions compared to the previous year, which is a cautious accounting measure to reflect the true asset status and operational results [7][8]. - By the end of 2025, the company will have completed relevant business structure adjustments and asset divestitures, maintaining positive net assets attributable to shareholders and optimizing asset structure without significantly impacting ongoing operations [8].

Core Viewpoint - ST Huayang (603825.SH) has disclosed its 2025 performance forecast, indicating that despite facing operational losses due to industry conditions and transformation adjustments, the net assets attributable to shareholders will remain positive by the end of 2025, signaling a stable and improving operational fundamental [1][2] Group 1: Business Performance and Strategy - The core reason for the operational pressure in 2025 is intensified industry competition and ongoing structural adjustments, which have slowed revenue growth [1] - Since 2024, the company has been focusing on enhancing long-term operational quality and sustainable development by optimizing its business structure and upgrading internal management, with 2025 being a critical phase for business transformation and structural adjustment [1] - To mitigate the operational pressure during the transformation period, the company will implement cost reduction and efficiency enhancement measures, divesting underperforming business units and focusing on core operations while acquiring stable profit-generating assets [1][2] Group 2: Asset Management and Financial Health - The company plans to increase asset impairment provisions based on a cautious principle, conducting comprehensive impairment tests on assets showing signs of impairment to accurately reflect asset status and operational results, thereby improving asset quality and reducing future operational uncertainties [2] - Following the business structure adjustments and asset divestitures, the company will maintain positive net assets and significantly optimize its asset structure by eliminating inefficient assets, which clarifies the focus on core business [2] - The company has announced plans to use the remaining fundraising of 260 million yuan and accrued interest to permanently supplement working capital, which aligns with its asset structure optimization efforts to enhance financial structure and operational capacity [2] Group 3: Future Outlook - Looking ahead to 2026, the company's core goal is to reduce losses and restore profitability, with plans to optimize asset and capital structures while solidifying the foundation of its main business [2] - As the effects of the transformation adjustments gradually materialize, the company is expected to achieve steady improvements in operational quality through its optimized business layout [2][3] - Market analysts highlight that ST Huayang's proactive adjustments in business structure and asset allocation not only solidify its foundation against delisting risks but also create favorable conditions for sustainable development, potentially providing investors with more stable returns [3]

Core Viewpoint - ST Huayang (603825.SH) is expected to report significant losses in 2025, with projected net profit attributable to shareholders ranging from -700 million to -590 million yuan [1] Financial Projections - The company anticipates a net profit attributable to shareholders of -700 million to -590 million yuan for the year 2025 [1] - The projected net profit after deducting non-recurring gains and losses is expected to be between -720 million and -610 million yuan [1]