Group 1: New Stock Offerings - Tianpu Co., Ltd. (Stock Code: 605255) has a tender offer period from November 20, 2025, to December 19, 2025[1] - Hangzhou Steam Turbine Co., Ltd. (Stock Code: 200771) has a cash option declaration period from November 19, 2025, to November 25, 2025[1] - Central Plaza (Stock Code: 600280) announced on November 20, 2025[1] Group 2: Stock Performance Alerts - Moen Electric (Stock Code: 002451) reported severe abnormal fluctuations on November 14, 2025[1] - ST Yuancheng (Stock Code: 603388) reported severe abnormal fluctuations on November 11, 2025[1] - ST Keli Da (Stock Code: 603828) reported severe abnormal fluctuations on November 12, 2025[1] Group 3: Recent Announcements - Jiumuwang (Stock Code: 601566) announced on November 20, 2025[1] - Taiping Bird (Stock Code: 603877) announced on November 20, 2025[1] - Huaci Co., Ltd. (Stock Code: 001216) announced on November 20, 2025[1]

二、公司关注并核实相关情况 针对公司股票交易异常波动情况，公司对有关事项进行了核实，现将核实情 况说明如下： 1.公司前期披露的信息不存在需要更正、补充之处； 2.近期公共传媒未有报道可能或已经对公司股票交易价格产生较大影响的 未公开重大信息； 一、股票交易异常波动的情况介绍 荣丰控股集团股份有限公司（以下简称"公司"）股票（证券简称：*ST 荣 控，证券代码：000668）连续三个交易日（2025 年 11 月 14 日、2025 年 11 月 17 日、2025 年 11 月 18 日）收盘价格涨幅偏离值累计达到 12.48％，根据《深 圳证券交易所股票交易规则》的相关规定，属于股票交易异常波动情形。 证券代码：000668 证券简称：*ST荣控 公告编号：2025-043 荣丰控股集团股份有限公司 股票交易异常波动公告 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。 四、公司认为必要的风险提示 1.经自查，公司不存在违反信息公平披露的情形。 2.公司于 2025 年 4 月 29 日披露《2024 年年度报告》，2024 年度公司利润 总额、净利润及扣除 ...

Core Viewpoint - The stock of *ST Rongkong (stock code: 000668) experienced an abnormal price fluctuation, with a cumulative increase of 12.48% over three consecutive trading days (November 14, 17, and 18, 2025) [1] Summary by Relevant Sections - **Stock Performance** - The stock price deviation is classified as abnormal due to a cumulative increase of 12.48% over three trading days [1] - **Company Verification** - The company confirmed that there are no corrections or supplements to previously disclosed information, and there are no significant undisclosed matters in the media [1] - There have been no major changes in the company's operations or environment [1] - The controlling shareholder and actual controller did not engage in any stock trading during the abnormal fluctuation period [1] - **Financial Indicators and Risks** - The company’s financial indicators for the year 2024 have triggered a delisting risk warning [1] - If specified conditions occur in 2025, the stock will be terminated from listing [1]

Core Viewpoint - *ST Rong Control (formerly Rongfeng Holdings) is facing a significant issue as its independent director, Liu Changkun, has been unreachable, raising concerns about corporate governance and the potential impact on the company's operations and financial reporting [1][2][3]. Company Situation - On October 26, *ST Rong Control announced that it has been unable to contact independent director Liu Changkun since the notice for the 14th meeting of the 11th board of directors was sent on October 14 [1][2]. - Liu Changkun, aged 67, has been serving as an independent director since April 23, 2020, and his current term is set to end on December 20, 2026 [2][3]. - The company has stated that the board will closely monitor the situation and may consider measures such as appointing a new independent director to ensure proper governance [1][3]. Financial Performance - In the third quarter of 2025, *ST Rong Control reported a significant increase in revenue, achieving 67.91 million yuan, a year-on-year growth of 249.21% [5]. - For the first nine months of 2025, the company generated approximately 185 million yuan in revenue, reflecting a substantial year-on-year increase of 377.55% [5]. - The growth in revenue is attributed to the expansion into new business areas, including e-commerce live streaming and cross-border logistics, which contributed over 38% of total revenue in 2024 [5]. - Despite the revenue growth, the company reported a net loss of 2.39 million yuan in the third quarter, although this was an 85.75% reduction compared to the previous year [5]. - Cumulatively, the net loss for the first nine months of 2025 reached 27.40 million yuan, a 20.17% improvement from the same period last year [5]. Cash Flow and Financial Health - The company's cash flow situation remains tight, with a net cash flow from operating activities of -18.70 million yuan for the first nine months of 2025, indicating significant cash consumption in the third quarter [6]. - The cash balance has decreased sharply from 57.29 million yuan at the end of June 2025 to just 9.94 million yuan by September 30, 2025 [6].

Core Viewpoint - *ST Rong Control (000668.SZ) experienced a sharp decline in stock price following the announcement of its Q3 financial report and the disappearance of its independent director, Liu Changkun, which has raised concerns among investors [1][2]. Financial Performance - In Q3, *ST Rong Control reported a revenue increase of 377.55% year-on-year, reaching 185 million yuan, while the net loss narrowed by 20.18% [1][3]. - Despite the significant revenue growth, the company still faces a substantial gap to meet the delisting threshold, with a net loss of 27 million yuan and a revenue shortfall of 115 million yuan compared to the 300 million yuan requirement [3]. Corporate Governance - The company announced that it has been unable to contact independent director Liu Changkun since October 14, raising concerns about governance and operational stability [1][2]. - Liu Changkun, who has served as an independent director for nearly five and a half years, did not attend the board meeting on October 14 and has not delegated his responsibilities to other directors [1][2]. Market Reaction - Following the announcements, *ST Rong Control's stock opened at 10.45 yuan and closed at the same price, reflecting a 5% drop, with a trading volume of nearly 20 million yuan [1][4]. - The stock had previously seen a cumulative increase of over 60% this year and achieved three consecutive trading limits from October 21 to 24 [1][3]. Business Strategy - The company has attempted to diversify its revenue streams by expanding into e-commerce live streaming and cross-border logistics, which contributed 51 million yuan in revenue, accounting for 38% of total revenue in 2024 [3]. - However, the contribution from these new business segments has significantly declined to 6.67% in the first half of 2025 [3].

Core Viewpoint - *ST Rong Control (000668.SZ) experienced a significant drop in stock price following the announcement of its Q3 financial results and the disappearance of its independent director, Liu Changkun, which has raised concerns among investors [2][3]. Financial Performance - In the first three quarters, *ST Rong Control reported a revenue increase of 377.55% year-on-year, reaching 185 million yuan, while the net loss narrowed by 20.18% [2][4]. - Despite the impressive revenue growth, the company still faces a substantial gap to meet the delisting risk threshold, as the net loss for the period was 27 million yuan, and the revenue remains 1.15 billion yuan short of the 300 million yuan requirement [4]. Corporate Governance - The company announced that it has been unable to contact independent director Liu Changkun since October 14, raising concerns about governance and oversight [2][3]. - Liu Changkun has been with the company for nearly five and a half years and has a strong background in management, having previously held significant positions in regulatory and corporate roles [3]. Business Strategy - The revenue growth in Q3 was primarily driven by increased sales of finished houses, although the company has also attempted to diversify its business by expanding into e-commerce and cross-border logistics, which contributed 51.05 million yuan, accounting for 38% of total revenue [5]. - However, the contribution from these new business segments has significantly declined, dropping to 6.67% in the first half of 2025 [5].

Core Points - *ST Rongkong disclosed that independent director Liu Changkun is mysteriously "missing" and cannot be contacted, raising concerns about corporate governance [1] - Despite Liu's absence, the company successfully held its 14th board meeting and approved the Q3 2025 report with unanimous votes [2] - For the first three quarters of 2025, *ST Rongkong reported revenue of 185 million yuan, a year-on-year increase of 377.55%, but incurred a net loss of 27.4 million yuan, which is an improvement from the previous year's loss [3] Company Governance - Liu Changkun, an independent director, plays a crucial role in supervising management and preventing conflicts of interest, but his absence is not expected to significantly impact the company's management [2] - The company has six active board members, ensuring that the board remains above the legal minimum and can continue operations effectively [1] Financial Performance - *ST Rongkong's main business includes real estate development and cross-border logistics [3] - The company has been placed under delisting risk warning and is taking measures to improve performance to avoid delisting [3]

Core Viewpoint - The company *ST Rongkong is facing a significant issue with its independent director Liu Changkun being unreachable, which raises concerns about the board's operations and the company's governance [1][3][5]. Group 1: Independent Director Issue - *ST Rongkong has been unable to contact independent director Liu Changkun through various means, including phone and WeChat, since the notice of the board meeting was issued on October 14 [1][5]. - Liu Changkun, aged 67, has served as an independent director since April 23, 2020, and his current term is set to end on December 20, 2026 [3][5]. - The company is monitoring the situation closely and may consider measures such as appointing a new independent director to ensure proper board operations [7][3]. Group 2: Financial Performance - In the third quarter of 2025, *ST Rongkong reported a significant increase in revenue, achieving 67.91 million yuan, a 249.21% increase year-on-year [9][10]. - For the first nine months of 2025, the company’s total revenue reached approximately 185 million yuan, reflecting a year-on-year growth of 377.55% [9][10]. - Despite the revenue growth, the company reported a net loss attributable to shareholders of 2.39 million yuan in the third quarter, although this was an 85.75% reduction compared to the previous year [11][10]. Group 3: Cash Flow and Financial Health - The company’s cash flow remains tight, with a net cash flow from operating activities of -1.87 million yuan for the first nine months of 2025, indicating significant cash consumption in the third quarter [12][13]. - As of September 30, 2025, the company’s cash balance had decreased to 994.13 million yuan from 5.38 million yuan at the beginning of the year [13].

Core Viewpoint - *ST Rong Control (000668.SZ) announced on October 26 that it has been unable to contact independent director Liu Changkun, which raises concerns about the company's governance and operational continuity [1][3][4]. Company Governance - The company has made multiple attempts to reach Liu Changkun through various communication methods but has not succeeded, leaving the reason for his unavailability unclear [1][4]. - Liu Changkun, aged 67, has served as an independent director since April 23, 2020, and his current term is set to end on December 20, 2026 [3][4]. - The board of directors will closely monitor the situation and may consider measures such as appointing a new independent director to ensure proper governance [3][5]. Financial Performance - For the third quarter of 2025, *ST Rong Control reported a significant increase in revenue, achieving 67.91 million yuan, a 249.21% increase year-on-year [6][7]. - Cumulatively, from January to September 2025, the company generated approximately 185 million yuan in revenue, reflecting a 377.55% year-on-year growth [6][7]. - Despite the revenue growth, the company reported a net loss attributable to shareholders of 2.39 million yuan for the third quarter, although this was an 85.75% reduction compared to the previous year [8][9]. Cash Flow and Financial Health - The company’s cash flow remains tight, with a net cash flow from operating activities of -18.70 million yuan for the first three quarters of 2025, indicating significant cash consumption in the third quarter [8][10]. - As of September 30, 2025, the company's cash balance had decreased to 994.13 million yuan, down from 5.38 million yuan at the beginning of the year [10].

Core Viewpoint - The sudden disappearance of independent director Liu Changkun from *ST Rongkong raises concerns about the company's governance and operational continuity, especially as it seeks to finalize its third-quarter financial report [1][3][4]. Company Governance - *ST Rongkong announced on October 26 that it has been unable to contact independent director Liu Changkun through various means, including phone and WeChat, since the notice of the board meeting was sent on October 14 [1][4]. - Liu Changkun, aged 67, has been serving as an independent director since April 23, 2020, and his current term is set to end on December 20, 2026 [3][5]. - The company stated that it will closely monitor the situation and may consider measures such as appointing a new independent director to ensure proper board operations [6][3]. Financial Performance - In the third quarter of 2025, *ST Rongkong reported a significant increase in revenue, achieving 67.91 million yuan, a 249.21% increase year-on-year [7][8]. - For the first nine months of 2025, the company reported cumulative revenue of approximately 185 million yuan, reflecting a year-on-year growth of 377.55% [8][10]. - Despite the revenue growth, the company still reported a net loss attributable to shareholders of 2.39 million yuan in the third quarter, although this was an 85.75% reduction compared to the previous year [10][11]. Cash Flow and Financial Health - The company's cash flow situation remains tight, with a net cash flow from operating activities of -18.70 million yuan for the first nine months of 2025, indicating significant cash consumption in the third quarter [12][10]. - As of September 30, 2025, the company's cash balance had dwindled to 994.13 million yuan, down from 5.38 million yuan at the beginning of the year [12][10].