关于华扬联众数字技术股份有限公司 股票交易异常波动问询函的回函 华扬联众数字技术股份有限公司: 我司收到你司发来的《关于华扬联众数字技术股份有限 公司股票交易异常波动有关事项的问询函》,作为华扬联众 数字技术股份有限公司(以下简称"上市公司")控股股东, 经认真自查及向实际控制人长沙市人民政府国有资产监督 管理委员会(以下简称"长沙市国资委")间询核实,现就 有关情况回复如下: 截至目前,我司及实际控制人长沙市国资委,除上市公 司已公开披露的事项外,不存在应披露而未披露的重大事项, 包括但不限于筹划涉及上市公司的重大资产重组、股份发行、 重大交易类事项、业务重组、股份回购、股权激励、破产重 整、重大业务合作、引进战略投资者等重大事项;不存在股 票交易异常波动期间买卖上市公司股票的行为。 湖南湘江新区发 特此回复。 ...

Market Overview - The Shanghai Composite Index closed at 3800.35 points, with a decline of 1.76% [1] - The total trading volume of A-shares reached 31,977.88 billion yuan [1] Technical Analysis - A total of 150 A-shares experienced a death cross, where the 5-day moving average fell below the 10-day moving average [1] - Notable stocks with significant distance between their 5-day and 10-day moving averages include: - Hengyu Xintong: 5-day MA at 76.38 yuan, 10-day MA at 77.37 yuan, difference of -1.28% [1] - ST Huayang: 5-day MA at 11.72 yuan, 10-day MA at 11.84 yuan, difference of -0.94% [1] - Wohua Pharmaceutical: 5-day MA at 6.96 yuan, 10-day MA at 7.02 yuan, difference of -0.78% [1] Individual Stock Performance - Hengyu Xintong: Today's decline of 5.98%, with a turnover rate of 14.00% [1] - ST Huayang: Today's decline of 5.04%, with a turnover rate of 0.09% [1] - Wohua Pharmaceutical: Today's decline of 3.03%, with a turnover rate of 3.42% [1] - Other notable declines include: - Longshen: -3.62% [1] - Zhuhua Design: -5.51% [1] - Dadi Ocean: -7.20% [1] Additional Stock Data - The following stocks also showed significant declines: - Kexin Technology: -2.56% [1] - Chenxi: -5.85% [1] - Yuxing Co.: -7.53% [1] - Yingjian Technology: -6.08% [1] - Senhe Co.: -6.08% [1] - Huayuan Holdings: -3.42% [1]

Market Overview - The Shanghai Composite Index is at 3868.00 points with a slight decline of -0.01% as of 10:29 AM [1] - The total trading volume of A-shares is 12,533.34 billion yuan [1] Stocks with Death Cross - A total of 54 A-shares have seen their 5-day moving average cross below the 10-day moving average [1] - Notable stocks with significant distance between their 5-day and 10-day moving averages include: - Hengyu Xintong: 5-day MA at 76.46 yuan, 10-day MA at 77.41 yuan, difference of -1.23% [1] - ST Huayang: 5-day MA at 11.72 yuan, 10-day MA at 11.84 yuan, difference of -0.94% [1] - Wohua Pharmaceutical: 5-day MA at 6.99 yuan, 10-day MA at 7.03 yuan, difference of -0.60% [1] Additional Stocks with Death Cross - Other stocks showing a death cross include: - Longshen Rongfa: 5-day MA at 10.88 yuan, 10-day MA at 10.95 yuan, difference of -0.56% [1] - Dadi Ocean: 5-day MA at 31.63 yuan, 10-day MA at 31.76 yuan, difference of -0.39% [1] - Morning Star Aviation: 5-day MA at 22.66 yuan, 10-day MA at 22.75 yuan, difference of -0.36% [1] Performance of Selected Stocks - Performance metrics for selected stocks include: - Hengyu Xintong: Today's change of -5.48% with a turnover rate of 8.19% [1] - ST Huayang: Today's change of -5.04% with a turnover rate of 0.08% [1] - Wohua Pharmaceutical: Today's change of -1.15% with a turnover rate of 1.39% [1] Summary of Other Stocks - Additional stocks with notable performance include: - Hanhai Environmental: Today's change of -3.51% with a turnover rate of 0.98% [1] - Sen Tai: Today's change of -4.05% with a turnover rate of 2.39% [1] - Huayuan Holdings: Today's change of -0.68% with a turnover rate of 1.21% [1]

Market Overview - The Shanghai Composite Index closed at 3881.07 points, with a change of +0.33% [1] - The total trading volume of A-shares reached 1,746.291 billion yuan [1] Technical Analysis - A total of 46 A-shares experienced a death cross, where the 5-day moving average fell below the 10-day moving average [1] - Notable stocks with significant distance between their 5-day and 10-day moving averages include: - Hengyu Xintong: 5-day MA at 76.55 yuan, 10-day MA at 77.45 yuan, difference of -1.17% [1] - ST Huayang: 5-day MA at 11.72 yuan, 10-day MA at 11.84 yuan, difference of -0.94% [1] - Wohua Pharmaceutical: 5-day MA at 6.99 yuan, 10-day MA at 7.03 yuan, difference of -0.58% [1] Stock Performance - Hengyu Xintong: Today's change -4.90%, turnover rate 9.91% [1] - ST Huayang: Today's change -5.04%, turnover rate 0.08% [1] - Wohua Pharmaceutical: Today's change -1.01%, turnover rate 1.87% [1] - Other notable stocks with negative performance include: - Longshen Rongfa: -0.65% [1] - Dadi Ocean: -4.27% [1] - Baili Technology: -1.82% [1] - Chengxi Aviation: -3.21% [1] - Dengkang Oral: -0.97% [1] - Sentai Co., Ltd.: -3.62% [1] - Huayuan Holdings: -0.46% [1] - Yingjian Technology: -2.78% [1] - Linhai Co., Ltd.: -1.55% [1] - Rundou Co., Ltd.: -1.88% [1] - Shengyuan Biotech: -3.27% [1] - Keshan Co., Ltd.: +0.03% [1] - Xiangshan Co., Ltd.: +0.58% [1] Additional Observations - The stocks with the largest percentage drop in their 5-day moving averages compared to their 10-day moving averages indicate potential bearish trends [1][2] - The overall market sentiment appears cautious, with several stocks showing significant declines in both price and trading volume [1][2]

据证券之星公开数据整理，近期ST华扬（603825）发布2025年中报。截至本报告期末，公司营业总收 入6.15亿元，同比下降56.5%，归母净利润-2.09亿元，同比下降103.44%。按单季度数据看，第二季度营 业总收入4.4亿元，同比下降43.94%，第二季度归母净利润-1.53亿元，同比下降178.86%。本报告期ST 华扬三费占比上升明显，财务费用、销售费用和管理费用总和占总营收同比增幅达122.83%。 预付款项变动幅度为44.49%,原因:预付业务款增加。 合同资产变动幅度为-47.72%,原因:回款增加。 短期借款变动幅度为92.28%,原因:贷款增加。 本次财报公布的各项数据指标表现不尽如人意。其中，毛利率14.01%，同比减19.03%，净利 率-34.34%，同比减411.27%，销售费用、管理费用、财务费用总计2.37亿元，三费占营收比38.49%，同 比增122.83%，每股净资产0.88元，同比减74.07%，每股经营性现金流-1.76元，同比减185.67%，每股 收益-0.82元，同比减100.0% | 项目 | 2024年中报 | 2025年中报 | 同比增幅 | | --- ...

Core Viewpoint - ST Huayang (603825) reported a revenue of 615 million yuan for the first half of 2025, focusing on brand marketing and exploring AI technology to enhance marketing capabilities [1] Group 1: Company Performance - In the first half of 2025, ST Huayang achieved a revenue of 615 million yuan [1] - The company is enhancing its brand marketing services and leveraging AI technology to explore new marketing developments [1] Group 2: AI Integration and Innovation - The advertising industry is undergoing significant changes driven by AI technology, with traditional advertising models shifting towards intelligent and precise approaches [2] - ST Huayang has launched the HiGC intelligent platform and MediaMuse, integrating multiple AI models to improve operational efficiency by nearly 50% [2] - The company has developed the "Ling Jian" video editing system, which has reduced production costs by 60% and replaced 70% of on-site shooting with AI-generated content [2] Group 3: Strategic Changes and Partnerships - In February 2025, ST Huayang underwent a change in control, with the Hunan Provincial Government becoming the actual controller, leading to positive outcomes for the company [3] - The company is leveraging its marketing expertise to strengthen relationships with local brand clients in Hunan and enhance their market share [3] - ST Huayang has signed a strategic cooperation agreement with Hunan Huanyear Cultural Tourism to provide marketing services and has established a joint venture to promote digital transformation in the cultural tourism sector [3][4] Group 4: Compliance and Future Outlook - ST Huayang has addressed issues related to administrative penalties and has corrected financial information, ensuring normal business operations [5] - The company aims to enhance its AI innovation capabilities and service quality while deepening cooperation with the Hunan government to drive digital transformation in the cultural tourism industry [5]

Group 1 - Sichuan Gold achieved a net profit of 209 million yuan in the first half of 2025, a year-on-year increase of 48.41% [1] - Hai Xin Co. reported a net profit of 108 million yuan, up 5.62% year-on-year, despite a revenue decline of 8.35% [1] - Shanhe Pharmaceutical Auxiliary's net profit decreased by 2.61% to 93.04 million yuan, with a revenue increase of 4.65% [2] Group 2 - Donghua Software's net profit fell by 15.78% to 244 million yuan, with a slight revenue decline of 1.76% [2] - Zhongyuan Haike reported a significant net profit drop of 91.21% to 9.83 million yuan, alongside a revenue decrease of 9.97% [3] - Xingxin New Materials experienced a net profit decline of 21.72% to 33.64 million yuan, with a minimal revenue growth of 0.02% [4] Group 3 - Longban Media's net profit increased by 13.28% to 120 million yuan, despite a revenue drop of 24.01% [6] - Guangge Technology reported a net loss of 31.38 million yuan, worsening from a loss of 20.17 million yuan in the previous year, with a revenue increase of 71.44% [7] - Ge Ke Wei's net profit decreased by 61.59% to 29.76 million yuan, despite a revenue growth of 30.33% [8] Group 4 - Shaoyang Hydraulic's net profit fell by 31.68% to 7.11 million yuan, with a revenue decline of 12.84% [9] - Qianjiang Biochemical achieved a net profit of 107 million yuan, a year-on-year increase of 30.24%, despite a revenue decline of 9.64% [10] - Jianhui Information's net profit dropped by 82.99% to 502.52 million yuan, with a revenue increase of 9.03% [11] Group 5 - Nobon Co. reported a net profit of 65.33 million yuan, up 48.33% year-on-year, with a revenue increase of 33.35% [12] - Proya's net profit increased by 13.80% to 799 million yuan, with a revenue growth of 7.21% [13] - Huayuan Holdings reported a net loss of 22.48 million yuan, improving from a loss of 39.2 million yuan in the previous year, with a revenue decline of 94.74% [15] Group 6 - Chihong Zn & Ge's net profit increased by 3.27% to 932 million yuan, with a revenue growth of 7.67% [17] - Dae Oriental's net profit decreased by 45.33% to 59.04 million yuan, with a revenue decline of 5.20% [19] - Zhongnong Lihua's net profit fell by 10.06% to 142 million yuan, despite a revenue increase of 3.27% [20] Group 7 - Triangle Tire's net profit decreased by 35.31% to 396 million yuan, with a revenue decline of 4.50% [21] - Lianchuang Optoelectronics reported a net profit of 263 million yuan, up 15.18% year-on-year, with a revenue increase of 6.51% [22] - Taijing Technology's net profit fell by 61.59% to 22.04 million yuan, despite a revenue growth of 16.73% [23] Group 8 - Congsheng Co. announced plans to establish a wholly-owned subsidiary with an investment of 5 million yuan [24] - Yilian Network's net profit decreased by 8.84% to 1.24 billion yuan, with a slight revenue decline of 0.64% [25] - Weichuang Electric's net profit increased by 4.87% to 141 million yuan, with a revenue growth of 16.39% [26] Group 9 - Liuyuan Chemical reported a net loss of 149 million yuan, worsening from a profit of 29.37 million yuan in the previous year, with a revenue increase of 3.10% [28] - Luxshare Precision achieved a net profit of 6.644 billion yuan, a year-on-year increase of 23.13%, with a revenue growth of 20.18% [29] - Jiangfeng Electronics reported a net profit of 253 million yuan, up 56.79% year-on-year, with a revenue increase of 28.71% [30] Group 10 - Hongqiao Technology reported a net loss of 22.97 million yuan, worsening from a profit of 21.96 million yuan in the previous year, with a revenue decline of 11.76% [31] - Hong Sifang's net profit decreased by 47.10% to 43.97 million yuan, with a revenue decline of 8.18% [32] - Huaxia Happiness reported a net loss of 6.827 billion yuan, worsening from a loss of 4.849 billion yuan in the previous year, with a revenue decline of 50.90% [35] Group 11 - Watson Bio's net profit decreased by 74.69% to 43.16 million yuan, with a revenue decline of 19.47% [37] - Huayang Lianzhong's controlling shareholder plans to increase its stake by 1% to 2% [39] - Lanhua Ketech's net profit decreased by 89.58% to 57.48 million yuan, with a revenue decline of 26.05% [41] Group 12 - Aike Optoelectronics reported a net profit increase of 127.40% to 36.04 million yuan, with a revenue growth of 64.39% [43] - Guojia Automobile's net profit decreased by 14.32% to 21.3 million yuan, with a revenue decline of 11.64% [44] - Yingjia Gongjiu's net profit decreased by 18.19% to 1.13 billion yuan, with a revenue decline of 16.89% [46] Group 13 - China Shipbuilding Technology reported a net loss of 574 million yuan, worsening from a loss of 81.71 million yuan in the previous year, with a revenue increase of 30.79% [48] - Dayang Electric's net profit increased by 34.41% to 602 million yuan, with a revenue growth of 7.66% [49] - Shoukai Co. reported a net loss of 1.839 billion yuan, improving from a loss of 1.948 billion yuan in the previous year, with a revenue increase of 105.19% [51]

Core Viewpoint - The article discusses the administrative penalties imposed on Huayang Lianzhong Digital Technology Co., Ltd. (ST Huayang) by the Beijing Securities Regulatory Bureau due to significant financial misconduct, including failure to disclose non-operating fund occupation and under-provisioning for bad debts, leading to inflated profits in financial reports [2][3][4]. Group 1: Financial Misconduct - Huayang Lianzhong failed to disclose non-operating fund occupation by its controlling shareholder, amounting to 181.53 million yuan, which constituted 10.02% and 7.84% of the net assets in the 2021 semi-annual and annual reports respectively [3]. - The company understated the bad debt provision for accounts receivable from Beijing Xinnuo Kejie Trading Co., resulting in inflated profits of 17.33 million yuan and 69.39 million yuan for the 2021 and 2022 annual reports, representing 6.72% and 10.31% of the reported profit totals [4]. Group 2: Penalties and Consequences - The Beijing Securities Regulatory Bureau proposed a fine of 5 million yuan for Huayang Lianzhong, along with individual fines of 7.5 million yuan for the controlling shareholder Su Tong and 2 million yuan for the former vice president Guo Jianjun [5][6]. - The company’s stock was suspended for one day and subsequently received a risk warning, changing its name to "ST Huayang" starting August 26, 2025 [2]. Group 3: Audit Concerns - The 2022 annual audit report by Zhongxinghua Accounting Firm issued a qualified opinion due to concerns regarding the commercial rationale and recoverability of a prepayment of 402 million yuan made by a wholly-owned subsidiary [7]. - In 2023, the company changed its auditor to Zhongxing Caiguanghua, which provided standard unqualified opinions for the 2023 financial report, indicating that the issues from the previous audit had been resolved [10]. Group 4: Stock Manipulation - In January 2025, Huayang Lianzhong faced penalties for stock manipulation by Su Tong and former vice president Yang Ning, who used multiple accounts to manipulate the stock price, resulting in a loss of approximately 95.21 million yuan during the manipulation period [16][18]. - The manipulation involved 115 trading days, with the accounts controlling over 10% of the market's buy and sell volumes on numerous occasions, indicating significant market influence [19].

Core Viewpoint - The controlling shareholder of Huayang Lianzhong, Xiangjiang Group, plans to increase its stake in the company by 1%-2% within six months, demonstrating confidence in the company's future development and long-term value [1] Group 1: Shareholder Actions - Xiangjiang Group intends to use its own or self-raised funds for the share buyback, committing not to reduce its holdings during the implementation period [1] - Since becoming the controlling shareholder in February 2025, Xiangjiang Group has facilitated a series of initiatives, including a board restructuring and the formation of a new management team [1] Group 2: Stake Acquisition - In April, Xiangjiang Group acquired 1.44% of Huayang Lianzhong's shares, increasing its total holding to 18.81%, making it the largest shareholder [1] Group 3: Strategic Partnerships - In August, Xiangjiang Group and Huayang Lianzhong jointly established Hunan Huayang Cultural Tourism Operation Management Co., Ltd., integrating mature cultural tourism assets for digital transformation [1] - In March, Huayang Lianzhong signed a three-year commercial cooperation framework agreement worth 300 million yuan with Hunan Huayan Cultural Tourism, providing consulting and marketing services [1]

值得注意的是，今年3月，华扬联众还与湘江集团旗下的湖南华年文旅签署了为期三年、总金额达3亿元 的《商业合作框架协议》。根据协议，华扬联众将为其提供咨询统筹、营销品牌推广等服务。 本报讯(记者向炎涛)8月25日晚间，华扬联众（603825）数字技术股份有限公司(以下简称"华扬联众")发 布公告称，基于对公司未来发展前景的信心以及对公司长期价值的认可，公司控股股东湖南湘江新区发 展集团有限公司(以下简称"湘江集团")计划在6个月内通过集中竞价交易等交易所认可的方式，使用自 有资金或自筹资金增持公司总股数的1%—2%。湘江集团承诺，在增持计划实施期间及法定期限内不减 持所持有的公司股份。 资料显示，湘江集团自2025年2月成为公司控股股东以来，对上市公司的赋能举措快速落地。目前，控 股股东已协助完成华扬联众董事会改组，并组建新的管理团队。4月，湘江集团竞得华扬联众1.44%的 股份，至此其持股比例达到18.81%，正式成为华扬联众的第一大股东。8月，湘江集团与华扬联众共同 投资设立湖南华扬文旅运营管理有限公司，将大王山片区的巴溪洲生态旅游景区、女神公园项目等成熟 文旅资产注入该合资公司，为后续华扬联众文旅产业的数字 ...