正平路桥建设股份有限公司 内幕信息及知情人登记报备制度 （2025 年 12 月修订） 第一章 总 则 第一条 为加强正平路桥建设股份有限公司（以下简称"公司"）内 幕信息管理，做好内幕信息保密工作，维护信息披露的公平原则，保护 广大投资者的合法权益，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》(以下简称"《证券法》")、《上 市公司信息披露管理办法》、《上海证券交易所股票上市规则》、《上 市公司内幕信息知情人登记管理制度》等有关法律法规，及《正平路桥 建设股份有限公司章程》（以下简称"《公司章程》"）、《正平路桥 建设股份有限公司信息披露管理制度》等规定，结合公司实际情况，制 定本制度。 第二条 公司内幕信息知情人管理工作由公司董事会负责，根据证券 交易所相关规则及本制度要求及时登记和报送内幕信息知情人档案，并 保证内幕信息知情人档案真实、准确和完整，董事长为主要责任人。董 事会秘书负责组织和协调公司内幕信息知情人管理的具体工作，董事会 办公室负责内幕信息知情人的登记入档和报送事宜。董事长和董事会秘 书应当对内幕信息知情人档案的真实、准确和完整签署书面确认意见。 未经董 ...

正平路桥建设股份有限公司 股东会议事规则 （2025 年 12 月修订） 第一章 总 则 第一条 为进一步明确正平路桥建设股份有限公司（以下简称"公 司"）股东会的职责权限，保证公司股东会的规范运作，维护股东的 合法权益，确保股东平等有效地行使权利，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》《上 市公司治理准则》《上市公司股东会规则》《上海证券交易所股票上 市规则》《正平路桥建设股份有限公司章程》（以下简称"《公司章 程》"）及其他有关法律、法规，制定本规则。 第二条 本规则自生效之日起，即成为对公司、公司股东、股东 代理人、董事、高级管理人员及列席股东会会议的其他相关人员具有 法律约束力的规范性文件。 第三条 公司应当严格按照法律、行政法规、《公司章程》及本 规则的相关规定召开股东会，保证股东能够依法行使权利。 公司董事会应当切实履行职责，认真、按时组织股东会。公司全 体董事应当勤勉尽责，确保股东会正常召开和依法行使职权。 第二章 股东会职权 第四条 股东会为公司的权力机构，应当在《公司法》和《公司 章程》规定的范围内行使职权。 股东会依法行使下列职权： 1 （一）选举 ...

关于实际控制人所持股份因诉讼被司法冻结的公告 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： 证券代码：603843 证券简称：*ST 正平 公告编号：2025-093 正平路桥建设股份有限公司 | 股东 | 持股数量 | | 累计被冻结 | 累计被标记 | 冻结数占 | 冻结数占 | | --- | --- | --- | --- | --- | --- | --- | | | | 持股比例 | | | 其所持股 | 公司总股 | | 名称 | (股) | | 数量(股) | 数量 (股) | | | | | | | | | 份比例 | 本比例 | ●正平路桥建设股份有限公司（以下简称"公司"）实际控制人之一金生辉 持有公司股份 46,228,594 股,占公司总股本的 6.61%。本次司法冻结 46,228,594 股，司法标记 46,228,594 股。 | 金生辉 | 46,228,594 | 6.61% | 46,228,594 | 46,228,594 | 100% | 6.61% | | --- ...

Group 1 - The core point of the news is that *ST Zhengping executed a block trade on December 5, with a total volume of 495,000 shares and a transaction value of 3.6779 million yuan, accounting for 46.25% of the total trading volume for that day [1][2] - The transaction price was 7.43 yuan, which was consistent with the market closing price of 7.43 yuan on the same day [1][2]

Group 1 - The Shanghai Stock Exchange implemented self-regulatory measures against 121 cases of abnormal trading behaviors, including price manipulation and false declarations, from December 1 to December 5, 2025 [1] - Stocks under risk warning for abnormal fluctuations include *ST Zhengping (603843) and *ST Yazhen (603389), along with stocks like Hezhong China (603122) and Tianpu Co., Ltd. (605255) that exhibited significant volatility [1] - The exchange conducted special investigations on 25 major events related to listed companies and reported 8 suspected illegal activities to the China Securities Regulatory Commission [1]

Core Insights - The article reports a block trade of *ST Zhengping, with a total of 420,000 shares traded, amounting to 3.4566 million yuan, which represents 10.24% of the total trading volume for the day [1][2] - The transaction price was 8.23 yuan per share, which is consistent with the market closing price of 8.23 yuan [1][2] Summary by Categories Trading Activity - On December 3, a block trade occurred involving *ST Zhengping, with a total volume of 420,000 shares [1] - The total transaction value was 3.4566 million yuan, accounting for 10.24% of the day's total trading volume [1][2] - The shares were traded at a price of 8.23 yuan, matching the closing price on the market [1][2]

Group 1 - The stock of *ST Zhengping (603843.SH) experienced a significant decline after a period of rapid increase, with a drop of 4.97% on its first day of resumption, closing at 8.23 yuan per share and showing signs of capital outflow [1] - From September 1 to November 18, 2025, *ST Zhengping's stock price surged by 221.93%, achieving 26 consecutive涨停板 (limit-up) despite the company's poor fundamentals [1] - The company has received multiple audit reports indicating significant uncertainties regarding its ability to continue as a going concern, and its stock is under delisting risk warnings [1][2] Group 2 - As of September 30, 2025, *ST Zhengping reported a cash balance of only 72.38 million yuan and a high debt-to-asset ratio of 92.49%, with a net loss of 484 million yuan for 2024 and an additional loss of 99 million yuan in the first three quarters of 2025 [1] - The company is facing a pre-restructuring application from creditors, but there is significant uncertainty regarding whether the court will accept this application [2] - The A-share market is experiencing a shift in sentiment, with an increasing number of companies facing delisting due to major violations, reaching a historical high of 13 companies in 2025 [2]

Group 1 - The construction of a financial powerhouse is essential for achieving a modern socialist strong nation, as finance is a crucial component of national economic strength and competitiveness [3] - The relationship between building a financial powerhouse and achieving socialist modernization is one of local serving the overall goal, emphasizing that a strong financial system is necessary for the modernization process [3] Group 2 - Multiple stocks have been flagged for trading risks due to significant short-term price increases, indicating potential irrational speculation [4][26] - External institutions like Morgan Stanley and UBS are optimistic about the A-share market, predicting an earnings growth rate of 8% for 2026, driven by improved nominal GDP growth and policy support [5][6] - The A-share market is expected to see further valuation increases due to macro policies, accelerated earnings growth, and sustained inflows of long-term capital [6] Group 3 - IBM's CEO expressed skepticism about the current data center construction trend, stating that the high costs make it unlikely for tech giants to achieve returns on such investments [14] - The company estimates that building a 1 GW data center requires an investment of approximately $80 billion [14] Group 4 - The stock of Chen'an Technology will resume trading after a change in its controlling shareholder to a state-owned entity, which is expected to enhance collaboration and support [15] - The stock of *ST Zhengping will resume trading after a significant price increase, which raised concerns about trading risks [16] Group 5 - The Ningbo Port expects a 10.8% year-on-year increase in container throughput for November 2025, indicating growth in shipping activities [30] - Yutong Bus reported a production increase of 11.21% and sales increase of 8.62% in November 2025, reflecting positive trends in the bus manufacturing sector [31]

Core Viewpoint - *ST Zhengping has announced that its stock will resume trading on December 3, 2025, after completing a review of its trading situation, although it still faces significant risks related to its financial status and potential delisting [1][2] Group 1: Company Overview - *ST Zhengping, officially known as Zhengping Road and Bridge Construction Co., Ltd., is engaged in infrastructure construction, cultural tourism, and non-ferrous metal mining [2] - The company provides services including infrastructure investment consulting, design and construction, operational management, cultural tourism, and mineral resource exploration and development [2] Group 2: Financial Performance - In 2024, *ST Zhengping reported revenue of 1.362 billion yuan and a net loss attributable to shareholders of 484 million yuan [2] - For the first three quarters of 2025, the company achieved revenue of 652 million yuan, a year-on-year decrease of 20.92%, with a net loss attributable to shareholders of approximately 99.76 million yuan [2] Group 3: Stock Performance and Risks - Since September, *ST Zhengping's stock has experienced 26 consecutive trading days of price increases, with a total rise of 221.93% from September 1 to November 18, significantly deviating from the Shanghai Composite Index and the construction industry [1] - The rapid increase in stock price has led to heightened trading risks, prompting the company to suspend trading for review on November 19, 2025 [1]

Core Viewpoint - *ST Zhengping has experienced significant stock price fluctuations, with a cumulative increase of 221.93% from September 1 to November 18, 2025, leading to trading suspensions and heightened risks for investors [2] Group 1: Stock Performance and Trading Status - The stock of *ST Zhengping has been suspended three times for trading reviews due to rapid price increases [2] - The company announced that its stock will resume trading on December 3, 2025, after completing the necessary reviews [2] Group 2: Financial Reporting and Audit Issues - The 2024 annual report of *ST Zhengping received an audit report with a disclaimer of opinion due to limited audit scope, resulting in a delisting risk warning for the stock [4] - The company faces significant uncertainties regarding its ability to continue as a going concern, as indicated by a negative opinion on internal controls and the presence of illegal guarantees [4] - If the issues highlighted in the non-standard opinions are not resolved by the end of the 2025 fiscal year, the stock may be delisted [4] Group 3: Financial Performance - In 2024, *ST Zhengping reported revenues of 1.362 billion yuan and a net loss attributable to shareholders of 484 million yuan, with a net loss of 475 million yuan after excluding non-recurring items [5] - For the first three quarters of 2025, the company achieved revenues of 652 million yuan and a net loss of 99 million yuan, with a net loss of 190 million yuan after excluding non-recurring items [5] Group 4: Operational Challenges - The company is facing challenges in mineral resource extraction capabilities, with its subsidiary obtaining a mining license but lacking sufficient funds, personnel, and equipment for further development [4] - As of September 30, 2025, *ST Zhengping had cash reserves of 72.3767 million yuan, with 30.2848 million yuan restricted due to various legal and operational issues, resulting in a high debt ratio of 92.49% [4]