Group 1 - The core point of the article highlights that Fuxing Co., Ltd. has pledged approximately 161 million shares, accounting for 49.2% of its holdings, which may raise concerns about the financial status of its shareholders [1] Group 2 - In the past week (as of February 13, 2026), Fuxing Co., Ltd.'s stock price has shown a downward trend with a cumulative decline of 2.60%. The latest closing price on February 13 was 2.25 yuan, down 1.32% for the day, with a trading volume of approximately 54.65 million yuan. Despite a net inflow of 662,900 yuan from major investors on that day, the overall capital showed a slight outflow. The real estate sector declined by 0.41%, while the Shanghai Composite Index fell by 1.26% [2] Group 3 - Current market sentiment towards Fuxing Co., Ltd. is neutral, with institutional ratings predominantly neutral (100% of ratings). Some institutions predict a net profit of 126 million yuan for 2025, representing a year-on-year growth of 32.63%. However, this forecast contrasts with the actual loss of 867 million yuan reported in the third quarter of 2025, indicating that the company's transformation efforts, such as mergers in the semiconductor sector, are still under investigation, and actual results remain to be observed [3]

Group 1 - The announcement states that the controlling shareholder, Fuxing Group, has pledged a portion of its shares in Fuxing Technology Co., Ltd. [1] - As of the announcement date, the total number of pledged shares by Fuxing Group is detailed in the document [1] - The company has provided reference documents related to the share pledge, including the securities pledge registration certificate and details of the securities pledge and judicial freeze from the China Securities Depository and Clearing Corporation [1]

Group 1 - The core point of the article highlights the significant financial fluctuations of the company, with net profit increasing ninefold before suddenly reporting a loss exceeding 200 million yuan [1] - The company, Fuxing Group, has pledged approximately 161 million shares, which accounts for 49.2% of its total holdings [1] - The chairman's decision to inject 50 million yuan to cover losses raises questions about the company's financial management and the whereabouts of 5 billion yuan in trust investments [1]

股票代码：000926 股票简称：福星股份 编号：2026-004 本公司及董事会全体成员保证公告内容的真实、准确和完整，不存在虚假记 载、误导性陈述或者重大遗漏。 湖北福星科技股份有限公司（以下简称公司或福星股份）于近日收到控股股 东福星集团控股有限公司（以下简称福星集团）函告，获悉福星集团将所持有本 公司的部分股份进行了质押，具体事项如下： | 股东名称 | 是否为控股股东或 第一大股东及其一 | 本次质押数量 | 占其所持 | 占公司总 | 是否为 | 是否为 补充质 | 质押 | 质押 | 质权人 | 用途 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 致行动人 | （股） | 股份比例 | 股本比例 | 限售股 | 押 | 起始日 | 到期日 | | | | 福星集团 | 控股股东 | 11,500,000 | 3.51% | 0.72% | 否 | 是 | 2026 年 2 月 12 日 | 至解除质 押登记日 | 武汉市江夏 区铁投小额 贷款有限责 | 补充质押 | | | | | | | | ...

Core Viewpoint - Fuxing Co., Ltd. (000926) is expected to report a net loss of between 2.6 billion yuan and 3.9 billion yuan for the year 2025, indicating significant financial challenges ahead [1] Financial Performance - The company anticipates a net loss of 2.6 billion yuan to 3.9 billion yuan for 2025 [1] - After excluding non-recurring gains and losses, the expected net loss ranges from 2 billion yuan to 3 billion yuan [1]

Financial Performance Expectations - The company expects a net profit loss between CNY 260 million and CNY 390 million for the fiscal year 2025, compared to a loss of CNY 260.07 million in the same period last year[4]. - The net profit loss after deducting non-recurring gains and losses is projected to be between CNY 200 million and CNY 300 million, compared to a loss of CNY 172.09 million in the previous year[4]. - Basic earnings per share are expected to be between CNY -1.63 and CNY -2.45, compared to CNY -1.64 per share in the prior year[4]. Asset Impairment and Losses - The company plans to recognize impairment provisions for inventory showing signs of impairment due to ongoing asset price declines and increased promotional efforts[6]. - Fair value losses on investment properties will also be recognized during the reporting period[7]. Financial Reporting - The financial data presented is preliminary and has not been audited by the accounting firm, with final figures to be disclosed in the 2025 annual report[8].

Group 1: Debt Restructuring Progress - In January 2026, several real estate companies, including Vanke, Road King, and Fantasia, reported significant progress in debt restructuring, continuing the trend from 2025 [1][3] - In 2025, 21 distressed real estate companies completed debt restructuring, with a total debt relief of approximately 1.2 trillion yuan [1][6] - The restructuring efforts are seen as a transition from addressing immediate liquidity crises to a more comprehensive resolution of debt risks in the real estate sector [5] Group 2: Policy Support and Financing Mechanisms - The "white list" financing system for real estate projects was optimized in January 2026, extending the loan extension period from 2.5 years to 5 years, providing companies with more financial flexibility [1][8] - The "white list" system has facilitated over 7 trillion yuan in loan approvals by September 2025, supporting nearly 20 million housing units [7] - The recent policy changes are expected to benefit financially healthier private real estate companies, allowing them to stabilize operations and diversify their business [9] Group 3: Specific Company Developments - Vanke announced a bond buyback plan on January 21, 2026, offering to repay 40% of the principal of certain bonds while extending the remaining 60% for one year, which was well-received by bondholders [3][4] - Fantasia's restructuring has entered a critical judicial phase, with the Hong Kong High Court approving a meeting for creditors to discuss the restructuring plan [4] - Jin Ke Co. completed a judicial restructuring in December 2025, involving a debt scale of 147 billion yuan, marking it as the largest case in the real estate sector [5]

Group 1 - The core point of the article is that Fuxing Co., Ltd. (000926) reported on an interactive platform that as of January 9, 2026, the number of shareholders is approximately 42,200 [1]

Group 1 - The company, Fuxing Co., announced the approval of a proposal to return previously raised idle funds used for temporary working capital and to continue using part of the idle funds for temporary working capital [2] - This decision was made during the 23rd meeting of the 11th Board of Directors [2] - The announcement was made on January 14 [2] Group 2 - The proposal aims to optimize the use of idle funds within the company [2] - The company is taking steps to ensure efficient financial management by reallocating resources [2] - This move reflects the company's ongoing strategy to maintain liquidity and support operational needs [2]

归还前次暂时补充流动资金的闲置募集资金 并继续使用部分闲置募集资金暂时补充流动资金的核查意见 中国银河证券股份有限公司 中国银河证券股份有限公司（以下简称"银河证券"或"保荐人"）作为湖北福 星科技股份有限公司（以下简称"公司"或"发行人"）2022 年度向特定对象发行股 票（以下简称"本次发行"）的保荐人，根据《证券发行上市保荐业务管理办法》 《上市公司募集资金监管规则》《深圳证券交易所股票上市规则》《深圳证券交易 所上市公司自律监管指引第 1 号——主板上市公司规范运作》等相关法律、法规 和规范性文件的规定，现就发行人归还前次暂时补充流动资金的闲置募集资金并 继续使用募集资金临时补充流动资金的事项进行了审慎核查，核查情况及核查意 见如下： 关于湖北福星科技股份有限公司 一、募集资金的基本情况 根据中国证券监督管理委员会出具的《关于同意湖北福星科技股份有限公司 向特定对象发行股票注册的批复》（证监许可[2023]1348 号），公司本次向特定对 象发行股票数量 223,491,752 股，每股发行价格为人民币 3.64 元，募集资金总额 为人民币 813,509,977.28 元，扣除各项发行费用（不含税） ...