格隆汇11月24日丨*ST炼石(000697.SZ)在投资者互动平台表示，成都航宇主要产品为单晶涡轮叶片成品 零件，也没有应用氮化硅涂层。 ...

Core Viewpoint - The company, Lianstone Aviation Technology Co., Ltd., has entered the execution phase of its restructuring plan approved by the Chengdu Intermediate People's Court, which poses a risk of downward adjustment in its stock price due to capital reserve conversion [2][16]. Group 1: Restructuring Plan and Stock Adjustment - The company has a total share capital of 873,100,876 shares, and it plans to increase this by 522,987,424 shares at a ratio of 5.99 shares for every 10 shares held, resulting in a new total of 1,396,088,300 shares [3][17]. - The newly issued shares will not be distributed to existing shareholders but will be allocated by the administrator as per the restructuring plan, with 200,000,000 shares for attracting restructuring investors and 322,987,424 shares for debt repayment [3][18]. - The company anticipates a downward adjustment in its stock price following the implementation of the restructuring plan, with specific details to be provided in future announcements [4][10]. Group 2: Financial Contributions from Investors - As of November 20, 2025, the company has received a total of 1,238,000,000 yuan from all restructuring investors as per the pre-restructuring investment agreement [9][10]. - The contributions from various investors include amounts such as 282,500,000 yuan from one investor and 336,500,000 yuan from another, among others [9]. Group 3: Adjustments to Stock Price Calculation - The average price for the capital reserve conversion is calculated to be 7.26 yuan per share, based on the total amounts for debt repayment and investor contributions [20]. - The adjustment formula for the stock price will be modified to reflect the actual financial situation post-restructuring, ensuring that the stock price accurately represents the company's improved fundamentals [25][26].

Group 1 - The company,炼石航空科技股份有限公司, has entered the restructuring phase after the Chengdu Intermediate People's Court approved its restructuring plan on November 12, 2025 [3][25]. - The restructuring plan includes a capital reserve increase to share capital, where the total share capital will increase from 873,100,876 shares to 1,396,088,300 shares, with a ratio of 5.99 shares for every 10 shares [4][27]. - The newly issued shares will not be distributed to existing shareholders but will be allocated by the management according to the restructuring plan [5][27]. Group 2 - Of the newly issued shares, 200,000,000 shares will be used to attract restructuring investors, who will pay a total of 1,238,000,000.00 yuan for these shares [5][20]. - The remaining 322,987,424 shares will be allocated to creditors as part of the debt repayment process [6][27]. - The average price for the capital reserve increase is calculated to be 7.26 yuan per share, based on the total amount of debt repayment and the cash paid by restructuring investors [7][28]. Group 3 - The company has adjusted the ex-rights price calculation formula to reflect the specific circumstances of the restructuring, which differs from typical capital reserve increases [9][15]. - The adjustment is necessary to ensure that the stock price accurately reflects the company's improved fundamentals post-restructuring [12][15]. - The company has received all restructuring investment funds from investors as per the pre-restructuring investment agreement, totaling 1,238,000,000.00 yuan [21][20].

Core Points - Pingtan Development and Haixia Innovation have completed their suspension review and will resume trading on November 21, 2025 [1][2] - Eddy Precision and Hangcai Co. plan to repurchase shares [3] - Wenfeng Co.'s deputy general manager has been placed under investigation [4] - Kesi Co. has undergone a change in its actual controller [6][7] - Major events include the completion of restructuring investments by *ST Lian Shi and acquisitions by Jun Ting Hotel and Lek Electric [8][9] Group 1: Resumption of Trading - Pingtan Development's stock will resume trading on November 21, 2025, after confirming no significant changes in its operations or undisclosed major matters [1] - Haixia Innovation's stock will also resume trading on November 21, 2025, with similar confirmations regarding its operational status [2] Group 2: Share Repurchase Plans - Eddy Precision plans to repurchase shares with a total amount between 100 million and 200 million yuan, at a price not exceeding 27 yuan per share [3] - Hangcai Co. intends to repurchase shares using excess funds, with a total amount between 50 million and 100 million yuan, at a price not exceeding 80 yuan per share [3] Group 3: Investigations and Changes in Management - Wenfeng Co.'s deputy general manager, Qin Guofen, is under investigation, but the company states this will not significantly impact its operations [4] - Kesi Co. has changed its actual controller from Zhou Jiuqing and Zhou Xuming to Zhou Xuming alone following the death of Zhou Jiuqing [6][7] Group 4: Major Events - *ST Lian Shi has received a total of 1.238 billion yuan in restructuring investments from all investors [8] - Jun Ting Hotel has agreed to acquire the remaining 21% stake in Junlan Management for 79.8 million yuan, making it a wholly-owned subsidiary [9] - Lek Electric plans to transfer 90% of its subsidiary's equity to Chuangyuan Resources, with a target valuation of 235 million yuan [9]

Core Viewpoint - *ST Lian Shi (000697.SZ) has successfully received a total of 1.238 billion RMB from all restructuring investors, marking a significant step in its restructuring process [1] Group 1 - The management account has received all restructuring investment funds from investors, totaling 1.238 billion RMB [1] - All restructuring investors have fully paid their respective investment amounts [1] - The company will continue to accelerate the execution of the restructuring plan under the supervision of the court and management [1]

*ST炼石（000697）(000697.SZ)公告，截至2025年11月20日，管理人账户已收到全体重整投资人应当支 付的全部重整投资款项，合计金额人民币12.38亿元。所有重整投资人已经全部足额支付重整投资款。 后续，公司将在法院和管理人监督下，继续加快开展重整计划执行阶段的各项工作。 ...

证券代码：000697 证券简称：*ST 炼石 公告编号：2025-060 炼石航空科技股份有限公司 关于公司股价向下除权的风险提示公告 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、误导性陈述或者重大遗漏。 特别提示： 2、因法院已依法受理公司重整，公司股票已依《深圳证券交易所股票上市规 则》的规定被实施退市风险警示。如重整顺利完成，公司将向深圳证券交易所申 请撤销重整事项相关的退市风险警示的情形。 根据《重整计划》，炼石航空现有总股本为873,100,876股，以现有总股本作 为资本公积转增基数，按照每10股转增5.99股的比例实施资本公积转增，共计转 增522,987,424股。转增后，炼石航空总股本将增至1,396,088,300股（最终转增的 准确股票数量以中国证券登记结算有限责任公司深圳分公司实际登记确认的为 准）。前述522,987,424股转增股票不向原股东进行分配，全部由管理人按照《重 整计划》的规定进行分配和处置。其中，200,000,000股用于引入重整投资人， 322,987,424股用于偿付债务。 公司经审慎研究后认为，本次实施资本公积金转增股本需结合《重 ...

中信证券股份有限公司 关于对炼石航空科技股份有限公司调整资本公积转增股本 除权参考价格的计算公式的专项意见 深圳证券交易所： 2025 年 9 月 23 日，炼石航空科技股份有限公司（以下简称"公司"或"炼 石航空"）收到四川省成都市中级人民法院（以下简称"成都中院"）送达的（2025） 川 01 破申 19 号《民事裁定书》，裁定受理公司的重整申请。同日，公司收到成 都中院送达的（2025）川 01 破 13 号《决定书》，成都中院指定北京金杜（成都） 律师事务所担任公司管理人。 根据《重整投资协议》约定，重整投资人总计以 1,238,000,000.00 元现金受 让炼石航空 200,000,000 股转增股票，相关受让资金将根据重整计划的规定用于 执行重整计划及支持炼石航空后续业务发展。 2、转增股票中 322,987,424 股用于偿付债务 转增股票中的 322,987,424 股将根据重整计划的规定分配给债权人实施以股 抵债。 一、对除权参考价格的公式进行调整的合规性 根据《深圳证券交易所交易规则（2023 年修订）》（以下简称"《交易规则》"） 第 4.4.2 条的规定： "除权（息）参考价计算公 ...

2025年9月10日，公司、公司管理人分别与国有企业存量资产优化升级（北 京）股权投资基金（有限合伙）、贵州国发航空发动机产业发展股权投资合伙企 业（有限合伙）、贵州黔广创新投资合伙企业（有限合伙）、广西金控资产管理 有限公司、深圳市深资磐石拾号投资合伙企业（有限合伙）、金洋华谊（上海） 管理咨询合伙企业（有限合伙）、中国长城资产管理股份有限公司签署了《预重 整投资协议》。 根据《预重整投资协议》，国有企业存量资产优化升级（北京）股权投资基 金（有限合伙）应支付重整投资款282,500,000.00元，贵州国发航空发动机产业发 展股权投资合伙企业（有限合伙）应支付重整投资款96,050,000.00元，贵州黔广 创新投资合伙企业（有限合伙）应支付重整投资款56,500,000.00元，广西金控资 产管理有限公司应支付重整投资款113,000,000.00元，深圳市深资磐石拾号投资合 伙企业（有限合伙）应支付重整投资款336,500,000.00元，金洋华谊（上海）管理 咨询合伙企业（有限合伙）应支付重整投资款201,900,000.00元，中国长城资产管 理股份有限公司应支付重整投资款分别为134,600,0 ...

证券代码：000697 证券简称：*ST 炼石 公告编号：2025-059 根据《重整计划》中出资人权益调整方案，公司资本公积金转增股本方案如 下： 炼石航空科技股份有限公司 关于重整计划资本公积金转增股本除权事项的公告 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、误导性陈述或者重大遗漏。 一、公司重整情况概述 2025年9月23日，四川省成都市中级人民法院（以下简称"成都中院"或"法 院"）依法裁定受理炼石航空科技股份有限公司（以下简称"炼石航空"或"公 司"）的重整申请，并于同日指定北京金杜（成都）律师事务所担任公司管理人。 相关具体内容详见公司披露的《关于法院裁定受理公司重整并指定管理人暨公司 股票交易将被实施退市风险警示的公告》（公告编号：2025-047）。 2025年10月11日，公司披露了《炼石航空科技股份有限公司重整计划（草案）》 《炼石航空科技股份有限公司重整计划（草案）之出资人权益调整方案》《炼石 航空科技股份有限公司重整计划（草案）之经营方案》。 2025年10月27日，公司第一次债权人会议、出资人组会议分别审议通过《炼 石航空科技股份有限公司重整计划（草案 ...