| | | | | | 第一章 总 则 第一条 为维护公司、股东、职工和债权人的合法权益，规范公司的组织和行 为，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》）、《中国共产党章程》（以下简称《党章》）和其他有 关规定，制定本章程。 第二条 公司系依照国家和深圳市的有关法律、法规和政策规定成立的股份有 限公司（以下简称公司）。 公司经深圳市人民政府办公厅深府办复〔1991〕968 号文件批准，以募集设立 方式设立，在广东省深圳市工商行政管理局注册登记，取得营业执照，统一社会 信用代码：914403006188016784。 第三条 公司于 1991 年 12 月 10 日经中国人民银行深圳经济特区分行批准， 首次向社会公众发行人民币普通股 1,000 万股。其中，公司向境内投资人发行的 以人民币认购的内资股为 1,000 万股，于 1992 年 6 月 2 日在深圳证券交易所上市。 第四条 公司注册名称： 公司中文全称：沙河实业股份有限公司 公司英文全称：SHAHE INDUSTRIAL CO.,LTD. 第五条 公司住所：深圳市南山区白石路 2222 号沙 ...

证券代码：000014 证券简称：沙河股份 公告编号：2026-009 沙河实业股份有限公司 | 序号 | | 修订前 | 修订后 | | --- | --- | --- | --- | | | 第一百一十六条 | 公司设董事会，董 第一百一十六条 | 公司设董事会，董 | | 1 | 事会由 9 | 名董事组成，设董事长 1 人，独 事会由 7 | 名董事组成，设董事长 1 人，独 | | | 立董事 3 | 人。董事长由董事会以全体董事 立董事 3 | 人。董事长由董事会以全体董事 | | | 的过半数选举产生。 | | 的过半数选举产生。 | 除上述条款修订外，《沙河实业股份有限公司章程》的其他条款不变。 修改后的《沙 河 实 业 股 份 有 限 公 司 章 程 》 于同日登载于巨潮资讯网 （www.cninfo.com.cn）。 特此公告 沙河实业股份有限公司董事会 2026 年 2 月 25 日 关于修订《公司章程》的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导 性陈述或重大遗漏。 沙河实业股份有限公司（以下简称"公司"）于 2026 年 2 月 25 日召开第 ...

证券代码：000014 证券简称：沙河股份 公告编号：2026-010 沙河实业股份有限公司 关于召开 2026 年第一次临时股东会的通知 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 根据沙河实业股份有限公司（以下简称"公司"）第十一届董事会 第十八次会议决议，公司决定召开 2026 年第一次临时股东会，现将有 关事宜通知如下： 一、召开会议的基本情况 1.会议届次：2026年第一次临时股东会。 2.会议召集人：公司董事会。公司董事会于2026年2月25日召开第 十一届董事会第十八次会议，审议通过了《关于召开公司2026年第一 次临时股东会的议案》，决定召开本次股东会。 3.会议召开的合法、合规性：本次股东会的召集、召开符合有关法 律、行政法规、部门规章、规范性文件和《公司章程》的规定。 4.会议召开日期及时间： （1）现场会议召开时间：2026年3月13日（星期五）下午14:45 （2）网络投票时间：通过深圳证券交易所交易系统进行网络投票 的具体时间为：2026年3月13日9:15—9:25、9:30—11:30和13:00— 15:00；通过深圳证券交 ...

证券代码：000014 证券简称：沙河股份 公告编号：2026-008 一、董事会会议召开情况 沙河实业股份有限公司（以下简称"公司"）第十一届董事会第 十八次会议通知于 2026 年 2 月 13 日分别以专人送达、电子邮件或传 真等方式发出, 会议于 2026 年 2 月 25 日以通讯表决方式召开。应参加 表决董事 7 人,实际参与表决董事 7 人。 会议的召集、召开符合有关法律、行政法规、部门规章和《公司 章程》的规定。 二、董事会会议审议情况 1.以 7 票同意、0 票反对、0 票弃权，审议并通过了《关于修订< 公司章程>的议案》 根据《中华人民共和国公司法》《上市公司章程指引》等有关法律 法规的规定，为进一步完善公司治理结构，结合公司实际情况，公司 将董事会成员人数由 9 名调整为 7 名，其中独立董事人数保持 3 名不 变，并相应修订《沙河实业股份有限公司章程》相关条款。 本议案具体内容详见公司同日在巨潮资讯网上披露的《关于修订< 公司章程>的公告》（公告编号：2026-009）和修订后的《沙河实业股 份有限公司章程》。 本议案需提交股东会审议。 沙河实业股份有限公司 第十一届董事会第十八次会议 ...

Group 1 - The core point of the news is that Shahe Co., Ltd. experienced a 5% drop in stock price, reaching 14.06 yuan per share, with a trading volume of 248 million yuan and a turnover rate of 7.17%, resulting in a total market capitalization of 3.403 billion yuan [1] - Shahe Co., Ltd. is located in Nanshan District, Shenzhen, Guangdong Province, and was established on July 27, 1987, with its listing date on June 2, 1992 [1] - The company's main business involves real estate development and operation, with revenue composition as follows: 72.68% from real estate sales, 23.77% from property leasing, and 3.55% from property management [1] Group 2 - Among the top ten circulating shareholders of Shahe Co., Ltd., a fund under Southern Fund holds a position, specifically the Southern CSI Real Estate ETF Initiated Link A (004642), which reduced its holdings by 35,100 shares in the third quarter, now holding 2.1286 million shares, accounting for 0.88% of circulating shares [2] - The Southern CSI Real Estate ETF Initiated Link A (004642) was established on August 24, 2017, with a latest scale of 179 million yuan, and has a year-to-date return of 3.61%, ranking 3454 out of 5569 in its category; over the past year, it has achieved a return of 9.67%, ranking 3799 out of 4295 [2] - The fund manager of Southern CSI Real Estate ETF Initiated Link A is Luo Wenjie, who has a cumulative tenure of 12 years and 300 days, managing total fund assets of 171.358 billion yuan, with the best fund return during his tenure being 185.79% and the worst being -47.6% [2]

Core Viewpoint - The recent acquisition by Shahe Co., a state-owned enterprise in Shenzhen, marks a significant strategic shift aimed at overcoming challenges in the real estate sector and aligning with national policies favoring emerging industries [1][2]. Group 1: Acquisition Details - Shahe Co. plans to acquire 70% of Jinghua Electronics for approximately 274 million yuan, signaling a move to diversify beyond real estate [1]. - Following the announcement, Shahe Co.'s stock surged to a limit-up of 14.53 yuan per share, with a total market capitalization of 3.5 billion yuan as of February 10 [1]. Group 2: Financial Performance - Shahe Co. has faced significant revenue and profit declines, with a reported revenue of 14.29 million yuan for the first half of 2025, down 94.74% year-on-year, and a net loss of 18.96 million yuan, a 135.04% decline [2]. - The company anticipates a net loss of 136 to 156 million yuan for the full year 2025, with a basic loss per share projected between 0.5619 and 0.6445 yuan [2]. Group 3: Cash Flow and Financial Health - Despite ongoing losses, Shahe Co. maintains a robust cash flow, with a net cash flow from operating activities of 56.68 million yuan, up 188.93% year-on-year, and cash reserves of 502 million yuan [3]. - The company’s financial structure appears healthy, with short-term liabilities of only 3.98 million yuan, providing a solid foundation for the acquisition [3]. Group 4: Strategic Implications of the Acquisition - The acquisition of Jinghua Electronics will allow Shahe Co. to enter the smart display and control technology sector, reducing business concentration risks and expanding growth opportunities [3]. - Jinghua Electronics has a clear profit commitment for the years 2026 to 2028, with net profits guaranteed at no less than 37.20 million yuan, 40.31 million yuan, and 43.55 million yuan respectively, providing a predictable revenue stream for Shahe Co. [3][4]. Group 5: Jinghua Electronics Overview - Jinghua Electronics is recognized as a national-level "little giant" enterprise specializing in smart display controllers and LCD devices, with applications across various sectors including smart home and industrial automation [5]. - The company has established long-term partnerships with notable firms such as Kohler, Schneider, and DJI, indicating a strong market position [5]. - The acquisition is facilitated by the shared control of both companies by the Shenzhen State-owned Assets Supervision and Administration Commission, enhancing the transaction's stability and support [5]. Group 6: Challenges Ahead - Transitioning from a real estate focus to a technology-intensive industry presents challenges for Shahe Co., including the need for industry knowledge, technical expertise, and operational adjustments [5].

Group 1 - The core point of the article is that Shahe Co., a traditional real estate company, is making a significant strategic transformation by acquiring 70% of Shenzhen Jinghua Display Electronics Co., Ltd. for 274 million yuan, aiming to diversify its business beyond real estate into advanced manufacturing [1][3][6] - The acquisition is part of a broader trend where traditional real estate companies are facing operational pressures and are seeking new growth avenues, as evidenced by Shahe's declining profits and lack of new land reserves since 2018 [2][3] - The target company, Jinghua Electronics, is recognized as a national-level "little giant" enterprise, specializing in IoT display and control systems, and has a strong market presence with established partnerships with well-known companies [4][6] Group 2 - The acquisition is structured as a cash transaction, which will not affect the existing shareholding structure of Shahe Co., and the ultimate controlling shareholders remain unchanged [3][6] - The deal is seen as a resource optimization initiative within the Shenzhen state-owned enterprise system, aligning with local government policies aimed at enhancing the quality of mergers and acquisitions [5][6] - The acquisition price reflects a 40.58% premium based on the assessed value of Jinghua Electronics, indicating a strategic investment in a company with promising growth potential [4][6]

Group 1 - Rongbai Technology announced it received a "Notice of Administrative Penalty" due to misleading statements regarding a major contract, with a proposed fine of 9.5 million yuan for the company, its chairman, and secretary [2] - The company previously claimed to have signed a material procurement cooperation agreement with CATL worth over 120 billion yuan, raising regulatory concerns due to the size of the order [2] Group 2 - Shahe Co., a traditional real estate company, is making a strategic shift by planning to acquire 70% of Shenzhen Jinghua Display Electronics Co., Ltd. for 274 million yuan, marking a significant step in its transformation [11][12] - The acquisition is expected to introduce smart display controllers and liquid crystal display devices into Shahe Co.'s business portfolio, moving away from its reliance on real estate [12] - Following the announcement, Shahe Co.'s stock hit the daily limit up, trading at 14.53 yuan per share, with a market capitalization of 3.517 billion yuan [13]

Market Overview - The A-share market saw all three major indices rise, with the Shanghai Composite Index increasing by 1.41% to 4123 points, the Shenzhen Component Index rising by 2.17%, and the ChiNext Index up by 2.98% [1][2] - The total market turnover reached 2.27 trillion yuan, an increase of 106.7 billion yuan compared to the previous trading day, with over 4600 stocks rising [1] Sector Performance - The AI application sector experienced significant gains, with stocks like Zhongwen Online, Jiecheng Co., and Rongxin Culture hitting the daily limit [2] - The CPO concept and communication equipment sectors also performed well, with Longfei Fiber hitting the daily limit and stocks like Tianfu Communication and Guangku Technology rising over 17% [4][5] - The photovoltaic equipment sector strengthened, with stocks such as Juhe Materials and TCL Zhonghuan also hitting the daily limit [2][10] - The film and television sector saw strong performance, with companies like Jiecheng Co., Shanghai Film, and Hengdian Film all hitting the daily limit [8][9] Individual Stock Highlights - Tianfu Communication surged by 17.76% to 297.90 yuan, driven by a profit forecast indicating a 40-60% increase in net profit for 2025 due to demand from AI and global data center construction [14] - Wanjing Technology rose over 11%, with other stocks like Danghong Technology and Kunlun Wanwei also showing strong gains [7] - The film sector's strong performance is attributed to the upcoming extended Spring Festival holiday, with expectations of box office revenues reaching 7-8 billion yuan [8] Future Outlook - The market is expected to reflect the dynamic relationship between macroeconomic conditions and A-share performance, with signs of economic recovery in 2025 [17] - Historical trends indicate a "calendar effect" around the Spring Festival, with a preference for high-dividend, defensive sectors leading up to the holiday, followed by a potential shift to small-cap and growth sectors post-holiday [17]

Core Viewpoint - The strategic transformation of Shahe Co., Ltd. has taken a significant step with the announcement of a major asset acquisition, aiming to diversify its business beyond real estate into advanced manufacturing [2][3]. Group 1: Transaction Details - Shahe Co., Ltd. plans to acquire 70% of Shenzhen Jinghua Display Electronics Co., Ltd. for 274 million yuan in cash, marking a major asset restructuring and related party transaction [2][3]. - The acquisition will introduce smart display controllers and LCD display devices to Shahe's business portfolio, shifting from a solely real estate focus [3][6]. - Jinghua Electronics is recognized as a national-level "little giant" enterprise, with an assessed value increase of 40.58% for the acquisition [3][8]. Group 2: Financial Impact - The transaction is expected to enhance Shahe's profitability, with projected increases in total assets, net profit, and earnings per share post-acquisition [6]. - Financial data indicates that Shahe's earnings per share will rise from 0.07 yuan to 0.14 yuan after the acquisition [6][7]. - As of September 30, 2025, Shahe's cash reserves stood at 510 million yuan, with a debt-to-asset ratio of 29.14%, providing a solid financial foundation for the acquisition [5]. Group 3: Strategic Context - The acquisition reflects Shahe's urgent need for new growth avenues amid declining performance in its core real estate business, with a projected net profit loss of 13.6 million to 15.6 million yuan for 2025 [5][6]. - The transaction is part of a broader trend of resource optimization and transformation within the Shenzhen state-owned enterprise system, aiming to revitalize traditional industries [10][11]. - This move aligns with national policies promoting mergers and acquisitions to enhance the quality of listed companies and support strategic emerging industries [11].