New Stock Listings - Daming Electronics (603376) listed at an issue price of 12.55 on November 6, 2025[1] - Haixia Innovation (300300) and Jiangbolong (301308) reported severe abnormal fluctuations on November 4, 2025[1] - Several companies including Xiangnan Xinchuan (300475) and Lansi Heavy Industry (603169) also reported abnormal fluctuations in late October[1] Abnormal Fluctuations - ST Bosen (002569) reported a fluctuation of 5939 on November 5, 2025[2] - Hailu Heavy Industry (002255) experienced a fluctuation of 5812 on November 5, 2025[2] - ST Aowei (002231) had a fluctuation of 5668 on November 5, 2025[2] - Rongke Technology (300290) reported a fluctuation of 4706 on November 3, 2025[2] - ST Xiongmao (600599) had a fluctuation of 5001 on November 4, 2025[2]

Market Overview - The real estate development sector increased by 0.54% on November 5, with Hezhan Energy leading the gains [1] - The Shanghai Composite Index closed at 3969.25, up 0.23%, while the Shenzhen Component Index closed at 13223.56, up 0.37% [1] Top Gainers - Hezhan Energy (000809) closed at 3.73, up 10.03% with a trading volume of 533,300 shares and a transaction value of 192 million [1] - Yingxin Development (000620) closed at 3.30, up 10.00% with a trading volume of 5,713,200 shares and a transaction value of 1.836 billion [1] - Zhu Tu Group (600185) closed at 6.91, up 5.66% with a trading volume of 1,315,600 shares and a transaction value of 913 million [1] Top Losers - Hefei Urban Construction (002208) closed at 11.80, down 5.07% with a trading volume of 1,006,700 shares and a transaction value of 1.202 billion [2] - China Wuyi (000797) closed at 3.26, down 4.68% with a trading volume of 2,017,700 shares and a transaction value of 665 million [2] - ST Sunshine (000608) closed at 2.21, down 4.33% with a trading volume of 360,700 shares and a transaction value of 80.88 million [2] Capital Flow - The real estate development sector experienced a net outflow of 741 million from institutional investors and 103 million from speculative funds, while retail investors saw a net inflow of 844 million [2][3] - Hezhan Energy had a net inflow of 63.63 million from institutional investors, while it faced a net outflow of 26.48 million from speculative funds [3] - The overall capital flow indicates a mixed sentiment in the real estate sector, with retail investors showing more confidence compared to institutional and speculative investors [2][3]

Core Viewpoint - China Wuyi announced that its stock price experienced an abnormal fluctuation, with a closing price increase exceeding 20% over three consecutive trading days from October 31 to November 4, 2025 [1] Summary by Sections - Stock Price Movement - The stock price of China Wuyi showed a significant increase, with a price deviation exceeding 20% on October 31, November 3, and November 4, 2025 [1] - Company Disclosure - The company confirmed that there are no corrections or supplements needed for previously disclosed information [1] - No recent media reports have been identified that could have significantly impacted the company's stock trading price [1]

中国武夷公告称，公司股票于2025年10月31日、11月3日、11月4日连续三个交易日收盘价格涨幅偏离值 超20%，属异常波动。经核实，公司前期披露信息无更正补充，未发现影响股价的未公开重大信息，经 营情况正常，控股股东等不存在应披露未披露重大事项，异常波动期间也无买卖公司股票行为。公司提 醒投资者以指定媒体披露信息为准，理性投资、注意风险。 ...

中国武夷实业股份有限公司（以下简称公司）股票（证 券简称：中国武夷，证券代码：000797）于 2025 年 10 月 31 日、2025 年 11 月 3 日、2025 年 11 月 4 日连续三个交易日 收盘价格涨幅偏离值超过 20%，根据深圳证券交易所有关规 定，属于股票交易异常波动的情况。 二、公司关注并核实的相关情况 针对公司股票交易异常波动，公司董事会通过电话、现 场问询等方式，对公司控股股东、实际控制人、公司董事、 监事及高级管理人员就相关问题进行核实，现将有关情况说 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、公司未发现近期公共传媒报道了可能或已经对公司 股票交易价格产生较大影响的未公开重大信息。 3、近期公司经营情况正常，内外部经营环境未发生重 大变化。 4、公司、控股股东和实际控制人不存在关于公司的应 披露而未披露的重大事项，或处于筹划阶段的重大事项。 证券代码：000797 证券简称：中国武夷 公告编号：2025-081 中国武夷实业股份有限公司 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。 一 ...

Core Insights - The land transfer concept index rose by 0.53%, ranking 10th among concept sectors, with 24 stocks increasing in value, including Unification Holdings and China Wuyi, which hit the daily limit [1][2] - The sector experienced a net outflow of 536 million yuan in capital, with Unification Holdings leading in net inflow at 239 million yuan [2][3] Group 1: Stock Performance - Unification Holdings and China Wuyi both saw significant gains, with increases of 10.00% and 9.97% respectively, while Xiamen Xiangyu, Huaying Agriculture, and Yong'an Forestry also performed well with increases of 5.11%, 2.73%, and 2.26% [1][5] - The stocks with the largest declines included Shanghai Shiji Development, Beijing Investment Development, and China Baoan, which fell by 3.89%, 3.49%, and 2.59% respectively [1][5] Group 2: Capital Flow - The leading stocks in terms of net capital inflow were Unification Holdings (239 million yuan), China Wuyi (72.76 million yuan), and Chuaning Biological (18.73 million yuan) [2][3] - The net inflow ratios for Unification Holdings, China Wuyi, and Chuaning Biological were 44.74%, 14.51%, and 5.45% respectively, indicating strong investor interest [3]

Group 1 - The real estate sector experienced a short-term surge on November 4, with China Wuyi hitting the daily limit up [1] - Guangda Jiabao previously reached the limit up, indicating strong market interest [1] - Other companies such as Hefei Urban Construction, Tianjin Binhai Development, and Zhujiang Co. also saw increases in their stock prices [1]

Market Overview - On October 31, the real estate development sector rose by 0.35% compared to the previous trading day, with Nanjing Gaoke leading the gains [1] - The Shanghai Composite Index closed at 3954.79, down 0.81%, while the Shenzhen Component Index closed at 13378.21, down 1.14% [1] Top Gainers in Real Estate Sector - Nanjing Shankai (600064) closed at 9.22, up 7.08% with a trading volume of 1.0175 million shares and a transaction value of 946 million [1] - Daming City (600094) closed at 5.48, up 6.20% with a trading volume of 810,300 shares and a transaction value of 441 million [1] - Haitai Youzhan (600082) closed at 4.72, up 6.07% with a trading volume of 399,300 shares and a transaction value of 185 million [1] Top Losers in Real Estate Sector - Yingxin Development (000620) closed at 2.48, down 10.14% with a trading volume of 6.8187 million shares and a transaction value of 1.764 billion [2] - Shahe Co. (000014) closed at 18.75, down 9.99% with a trading volume of 308,100 shares and a transaction value of 582 million [2] - Chengjian Development (600266) closed at 4.96, down 5.34% with a trading volume of 830,100 shares and a transaction value of 415 million [2] Capital Flow Analysis - On the same day, the real estate development sector saw a net inflow of 131 million from institutional investors, while retail investors contributed a net inflow of 186 million [2] - However, speculative funds experienced a net outflow of 317 million [2] Individual Stock Capital Flow - Wan Tong Development (600246) had a net inflow of 14.4 million from institutional investors, while it faced a net outflow of 46.4 million from speculative funds [3] - Zhangjiang Hi-Tech (600895) saw a net inflow of 83.2 million from institutional investors, with a net outflow of 19.9 million from speculative funds [3] - Daming City (600094) recorded a net inflow of 66.9 million from institutional investors, while speculative funds had a net outflow of 18.4 million [3]

Core Viewpoint - China Wuyi, a large state-owned enterprise, operates in real estate development and international engineering contracting, with unique advantages in overseas markets [1] Group 1: Business Performance - As of Q3 2025, China Wuyi reported revenue of 2.351 billion yuan, ranking 30th in the industry, significantly lower than the top players Poly Developments (173.722 billion yuan) and Vanke A (161.388 billion yuan) [2] - The company's net profit was -168 million yuan, placing it 52nd in the industry, far behind Poly Developments (6.515 billion yuan) and *ST Zhongdi (4.586 billion yuan) [2] - The main business composition includes commercial trade (617 million yuan, 39%), construction products (517 million yuan, 32.67%), and real estate development products (382 million yuan, 24.16%) [2] Group 2: Financial Ratios - As of Q3 2025, the asset-liability ratio was 76.80%, up from 74.56% year-on-year, exceeding the industry average of 60.51%, indicating significant debt pressure [3] - The gross profit margin was 8.93%, down from 29.88% year-on-year and below the industry average of 19.19%, suggesting a need for improvement in profitability [3] Group 3: Executive Compensation - Chairman Zheng Jingchang's salary for 2024 was 760,400 yuan, an increase of 68,800 yuan from 2023 [4] - General Manager Chen Ping's salary for 2024 was 975,000 yuan, up by 457,600 yuan from 2023 [4] Group 4: Shareholder Information - As of September 30, 2025, the number of A-share shareholders decreased by 10.47% to 36,900 [5] - The average number of circulating A-shares held per shareholder increased by 11.69% to 42,600 [5] - Hong Kong Central Clearing Limited was the third-largest circulating shareholder, holding 20.4017 million shares, an increase of 14.4637 million shares from the previous period [5]

Group 1: Policy Changes - Xiamen government announced a new policy to optimize household registration, effective from November 1, 2025, aimed at deepening the reform of the household registration system and guiding orderly population flow [1] - The policy will fully relax household registration restrictions in the districts of Jimei, Haicang, Tong'an, and Xiang'an, allowing tenants who have registered their rental and lived there for at least six months, and have paid social insurance for three months, to register at their residence [1] - In Siming and Huli districts, the policy will gradually relax, requiring two years of continuous social insurance payments and rental registration for employment-based registration [1] Group 2: Company Financial Performance - Shoukai Co. reported a revenue of 23.186 billion yuan for the first three quarters of 2025, representing a year-on-year increase of 60.31%, but incurred a net loss of 3.105 billion yuan [2] - Guangming Real Estate reported a revenue of 3.81 billion yuan for the first three quarters of 2025, a year-on-year decrease of 1.28%, with a net loss of 693 million yuan, although this loss decreased by 84.37% year-on-year [3] - China Wuyi reported a revenue of 2.351 billion yuan for the first three quarters of 2025, a year-on-year decline of 50.41%, with a net loss of 148 million yuan, which represents a significant increase in loss by 416.49% year-on-year [4] - Wanye Enterprises reported a revenue of 1.069 billion yuan for the first three quarters of 2025, a year-on-year increase of 247.43%, with a net profit attributable to shareholders of 19 million yuan [5]