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。 特别风险提示： 1.中水集团远洋股份有限公司（以下简称"公司"）股票（证券 简称：中水渔业；证券代码：000798）于 2025 年 11 月 14 日至 11 月 24 日连续 7 个交易日收盘价涨幅偏离值已累计超过 100%，根据深圳 证券交易所股票交易规则的相关规定，属于股票交易严重异常波动的 情形。 2.截至 2025 年 11 月 24 日，公司滚动市盈率 85.29 倍，市净率 为 14.83 倍，公司当前的市盈率、市净率与同行业平均水平存在较大 差异。公司目前生产经营活动正常，不存在应披露未披露的信息。 3.公司近期股票波动严重异常，可能存在非理性交易行为，交易 风险较高，存在股价大幅上涨后回落的风险。本公司郑重提醒广大投 资者，应当切实提高风险意识，防范概念炒作，谨慎决策，注意投资 风险。 一、股票交易严重异常波动的情况 证券代码：000798 证券简称：中水渔业 公告编号：2025-043 中水集团远洋股份有限公司 关于股价严重异动暨风险提示公告 4.公司、控股股东和实际控制人不存在关于本公司的 ...

Group 1 - The fishing sector experienced a significant increase of 6.28% on November 24, with KaiChuang International leading the gains [1] - The Shanghai Composite Index closed at 3836.77, up 0.05%, while the Shenzhen Component Index closed at 12585.08, up 0.37% [1] - Notable stock performances included KaiChuang International and ZhongShui Fisheries, both rising by 10.01%, and ZhangZi Island, which increased by 9.47% [1] Group 2 - The net inflow of main funds in the fishing sector was 181 million yuan, while retail funds saw a net outflow of 67.46 million yuan [1] - The main fund inflow for KaiChuang International was 137 million yuan, accounting for 41.50% of its trading volume [2] - ZhongShui Fisheries had a main fund inflow of 1.05 billion yuan, representing 12.21% of its trading volume, but also experienced a retail fund outflow of 50.33 million yuan [2]

Group 1 - Zhongshui Fisheries (000798) has experienced a continuous stock price increase, reaching a 94.84% rise over the last seven trading days as of November 24 [1] - On November 24, Zhongshui Fisheries issued a risk warning announcement stating that there is no undisclosed information, but the stock is subject to irrational trading behavior and significant price volatility risks [1] - Despite the risk warning, Zhongshui Fisheries maintained a strong stock performance, closing at 16.6 yuan per share with a 10.01% increase on November 24 [1] Group 2 - For the first three quarters of the year, Zhongshui Fisheries reported an operating income of 2.967 billion yuan, a year-on-year decrease of 8.67% [2] - The net profit attributable to shareholders for the same period was 53.41 million yuan, reflecting a significant year-on-year increase of 230.08% [2]

AI and Technology - Google has released a new image model, attracting attention in the AI sector [2] - 360, a leader in AI search, has developed the 360 Smart Brain with ten core capabilities and hundreds of detailed functions, reporting a net loss of 120 million in Q3, narrowing from mid-year losses [2] - Jiuxi Software has launched its new generation large model application management platform, Nvwa GPT, which integrates and provides capabilities for large model management and intelligent orchestration [2] Aerospace and Defense - Japan has announced the deployment of missiles in sensitive areas, impacting defense-related companies [2] - Aerospace Power, a subsidiary of the Aerospace Science and Technology Group, has seen stock performance with a recent increase [2] - China Shipbuilding Industry Group, which controls multiple defense-related companies, is the only military ship production base in South China [2] E-commerce and Retail - Alibaba's "Qianwen" app has surpassed 10 million downloads in its first week of public testing [3] - Sanjiang Shopping, the largest local supermarket chain in Zhejiang, has Alibaba as its second-largest shareholder and is involved in the sale of prepared dishes [3] - DataPort, a leading data center company, provides infrastructure solutions and serves major internet companies like Alibaba, Tencent, Baidu, and NetEase [3] Real Estate - Multiple regions have issued notifications to promote the stable and healthy development of the real estate market [5] - Everbright Jiabao, a real estate development company under Everbright Group, focuses on non-performing asset management in Zhejiang [5] Automotive - GAC Group has officially launched its all-solid-state battery pilot production line [5] - Jinlong Automobile, a major bus manufacturer, has partnered with Baidu to produce China's first commercial-grade autonomous micro-circulation vehicle [5] Renewable Energy - Guosheng Technology, a top global manufacturer of heterojunction products, is focusing on high-efficiency solar cells and has plans for a solid-state battery project [6] - Hemei Group's subsidiary is investing in a green hydrogen project with an estimated total investment of around 700 million [6] Food and Beverage - Xinhua Du, a leading e-commerce platform for liquor, has seen stock performance with a recent increase [4] - Hasi Lian, a beauty brand, is focusing on skincare products and has developed a series of medical-grade dressings [5]

Core Insights - The A-share market saw a total of 79 stocks hitting the daily limit up on November 24, with notable performances in various sectors, particularly aquaculture, photolithography, and 3D printing [1][2]. Group 1: Stock Performance - Guofeng New Materials achieved a four-day consecutive limit up in the photolithography sector [1][2]. - Changjiang Materials, associated with 3D printing, recorded a two-day consecutive limit up [1][2]. - The aquaculture sector, specifically Shuiyu Industry, experienced a remarkable seven-day consecutive limit up [1][2]. Group 2: Conceptual Breakdown of Stocks - The following stocks have notable consecutive limit up days: - Sansi Mingchu: 7 days, related to aquaculture [2]. - Guofeng New Materials: 4 days, related to photolithography [2]. - *ST Suwu: 4 days, related to innovative pharmaceuticals [2]. - Meng Tian Home: 4 days, related to home furnishings [2]. - Shida Group: 3 days, related to intelligent computing centers [2]. - Other stocks with 2 days of consecutive limit up include *ST Wanfang (automotive), Te Fa Information (optical communication), and Changjiang Materials (3D printing) [2].

Group 1 - The core viewpoint of the article highlights the recurring pattern of institutional selling while retail investors buy into rising stocks, exemplified by Zhongshui Fishery's recent performance [1][10]. - Zhongshui Fishery's current price-to-earnings ratio stands at 77.53, significantly higher than the industry average of 21, raising concerns about overvaluation [3][11]. - The article draws parallels between Zhongshui Fishery and past market phenomena, suggesting that high valuations often precede significant corrections, as seen in previous cases like lithium stocks [3][11]. Group 2 - The article discusses the behavior of institutional investors, noting that they often accumulate positions during sideways market periods, as evidenced by the banking sector from 2022 to 2025 [5][7]. - It emphasizes the importance of monitoring institutional activity, as a lack of institutional participation in sectors like liquor indicates potential pitfalls for retail investors [9][10]. - The author suggests that retail investors should adopt quantitative tools to better understand market dynamics and avoid being misled by superficial price movements [11][12]. Group 3 - The article warns that the recent surge in Zhongshui Fishery's stock price, characterized by a seven-day consecutive rise, may be a classic case of retail investors being lured into a trap while institutions exit [10][11]. - It highlights that 83% of companies that issued similar high P/E ratio warnings in the past five years experienced a decline of over 20% within a month [11][12]. - The piece concludes with a reminder that market conditions are ever-changing, but human behavior remains constant, often leading to poor investment decisions when consensus forms around a stock [12].

Market Overview - On November 24, A-shares opened higher with the Shanghai Composite Index at 3848.66 points, up 0.36%, Shenzhen Component Index up 0.53%, and ChiNext Index up 0.9% [1][2] - The trading volume of the Shanghai and Shenzhen markets exceeded 500 billion yuan, indicating some pullback in the major indices [2] Sector Performance - The defense and military industry, wind power equipment, and controllable nuclear fusion sectors led the market gains, while lithium mining and other previously high-performing sectors experienced pullbacks [2][4] - The defense and military equipment sector saw significant early gains, with satellite internet and commercial aerospace concepts also rising [4] Notable Stocks - In the defense sector, notable stocks included: - Aerospace Universe (688523) with a price of 29.77 yuan, up 19.99%, and a market cap of 12.1 billion yuan, up 48.85% year-to-date [5] - Raytheon Defense (002413) at 6.37 yuan, up 10.02%, with a market cap of 8.4 billion yuan, up 46.10% year-to-date [5] - The China Shipbuilding Industry sector also saw strong performance, with stocks like: - Jiuzhiyang (300516) rising over 15% to 55.59 yuan, with a market cap of 10 billion yuan, up 64.66% year-to-date [6][7] - China Shipbuilding Defense (600685) at 32.79 yuan, up 9.15%, with a market cap of 35.4 billion yuan, up 39.13% year-to-date [7] Aquaculture Sector - The aquaculture sector, particularly Zhongshui Fisheries (000798), saw significant gains, opening with a limit-up and achieving a seven-day consecutive rise [8][9] - Zhongshui Fisheries was trading at 16.6 yuan per share, with a market cap of 6.1 billion yuan [8] - Recent news indicated that China has suspended imports of Japanese seafood, impacting market sentiment towards Japanese products [9]

Market Overview - The A-share market experienced a decline with the Shenzhen Component Index, Shanghai Composite Index, and ChiNext Index all turning negative as of the report time [1] - The Shenzhen Component Index is at 12,492.11, down by 0.37%, the Shanghai Composite Index is at 3,822.36, down by 0.33%, and the ChiNext Index is at 2,909.92, down by 0.35% [2] Solid-State Battery Sector - The solid-state battery sector showed significant activity, with stocks such as Gaole Co., Guosheng Technology, and GAC Group hitting the daily limit up, while other companies like Funeng Technology and Liyuanheng also saw gains [3] - A total of 272 stocks are involved in the solid-state battery sector, with notable performers including: - Gaole Co. (+10.07%, current price 4.81, net inflow 25.83 million) - Guosheng Technology (+10.07%, current price 8.09, net inflow 143 million) - GAC Group (+10.00%, current price 8.36, net inflow 264 million) [4] - GAC Group's chairman announced the establishment of a pilot production line for all-solid-state batteries, achieving conditions for mass production of batteries over 60Ah [4] AI Computing Hardware Sector - The AI computing hardware sector is gaining momentum, with companies like Zhongfu Circuit hitting a 20% limit up, and other firms such as Guangku Technology and Tengjing Technology also showing strong performance [5] - Google’s AI infrastructure head stated the need to double AI computing power every six months and achieve a thousandfold increase in the next 4 to 5 years to meet rising demand [7] Aquaculture Sector - The aquaculture sector is experiencing a surge, with Zhongshui Fishery achieving a seven-day consecutive limit up, and Kaichuang International also hitting the limit up [8] - Zhongshui Fishery's stock has shown significant volatility, with a recent announcement indicating a cumulative price deviation exceeding 20% over two trading days, raising concerns about irrational trading behavior [10] Real Estate Sector - The real estate sector is seeing a boost, with companies like Everbright Jiabao hitting the limit up, alongside others such as Shilianhang and Zhangjiang High-Tech also rising [7] - Recent policies from various local governments, including a set of 12 measures from the Foshan Housing and Urban-Rural Development Bureau, aim to promote stable and healthy development in the real estate market [11]

Market Overview - On November 24, A-shares opened higher with the Shanghai Composite Index at 3848.66 points, up 0.36%, the Shenzhen Component Index up 0.53%, and the ChiNext Index up 0.9% [2] - The trading volume in the Shanghai and Shenzhen markets exceeded 500 billion yuan, but the three major A-share indices experienced some pullback [3] Sector Performance - The defense and military industry, wind power equipment, and controllable nuclear fusion sectors led the market gains, while lithium mining, cross-strait integration, and precious metals sectors saw declines [3] - The defense and military equipment sector showed strong performance at the market open, with satellite internet, commercial aerospace, and military information technology concepts rising [5] Notable Stocks - In the aerospace sector, notable stocks included: - Aerospace Universe (688523) at 29.77 yuan, up 19.99%, with a market cap of 12.1 billion yuan and a year-to-date increase of 48.85% [6] - Leike Defense (002413) at 6.37 yuan, up 10.02%, with a market cap of 8.4 billion yuan and a year-to-date increase of 46.10% [6] - Shanghai Huguang (603131) at 27.28 yuan, up 8.25%, with a market cap of 8.7 billion yuan and a year-to-date increase of 60.84% [6] - In the shipbuilding sector, notable stocks included: - Jiuzhiyang (300516) at 55.59 yuan, up 14.38%, with a market cap of 10 billion yuan and a year-to-date increase of 64.66% [9] - China Shipbuilding Defense (600685) at 32.79 yuan, up 9.15%, with a market cap of 35.4 billion yuan and a year-to-date increase of 39.13% [9] Aquaculture Sector - The aquaculture sector saw significant gains, with the aquaculture index leading the market. Zhongshui Fisheries opened with a limit-up, achieving a seven-day consecutive rise [10] - As of the midday session, Zhongshui Fisheries was priced at 16.6 yuan per share, with a market cap of 6.1 billion yuan [10] - Recent news indicated that China has suspended imports of Japanese seafood due to Japan's failure to meet safety assurances, impacting market sentiment towards Japanese seafood imports [12]

Market Overview - The three major A-share indices opened high but closed lower, with the Shenzhen Component Index, Shanghai Composite Index, and ChiNext Index all turning negative [1] - As of the latest update, the Shenzhen Component Index is at 12,492.11, down 0.37%; the Shanghai Composite Index is at 3,822.36, down 0.33%; and the ChiNext Index is at 2,909.92, down 0.35% [2] Solid-State Battery Sector - The solid-state battery sector showed significant activity, with stocks such as Gaogao Co., Guosheng Technology, and GAC Group hitting the daily limit up [3] - A total of 272 stocks are involved in the solid-state battery sector, with notable performers including Gaogao Co. (+10.07% to 4.81), Guosheng Technology (+10.07% to 8.09), and GAC Group (+10.00% to 8.36) [4] - GAC Group's chairman announced the completion of a pilot production line for solid-state batteries, which can produce batteries with specifications above 60Ah, marking a significant step towards small-batch vehicle integration [4] AI Computing Power - Google’s AI infrastructure head stated that the company must double its AI computing power every six months and achieve an additional 1,000 times growth in the next 4 to 5 years to meet rising demand for AI services [7] Real Estate Sector - The real estate sector experienced a surge, with stocks like Everbright Jiabao hitting the daily limit up, alongside others such as Shijie Holdings and Zhangjiang Hi-Tech [8] - Recent policies aimed at stabilizing the real estate market have been introduced, including a joint notice from multiple departments in Foshan to implement 12 measures to promote healthy market development [10] Aquaculture Sector - The aquaculture sector saw strong performance, with Zhongshui Fishery achieving a seven-day consecutive limit up, and Kaichuang International also hitting the limit up [11] - Zhongshui Fishery issued a risk warning due to significant stock price fluctuations, noting a rolling P/E ratio of 77.53 and a P/B ratio of 13.48, indicating potential irrational trading behavior [13]