Group 1 - On June 10, 2025, a block trade occurred for Shanzi Gaoke (000981), where an institutional special seat sold 820,400 shares for a total amount of 1.8787 million yuan at a price of 2.29 yuan per share, which was in line with the closing price of the day [1] - This trade accounted for 0.10% of Shanzi Gaoke's total trading volume of 1.808 billion yuan on that day, with the buyer being China International Capital Corporation Wealth Securities Co., Ltd. Fuzhou Wusi Road Securities Business Department [1] - This was the second block trade by institutional accounts for Shanzi Gaoke in recent times, with the first occurring on June 3, where 530,000 shares were sold at 2.13 yuan per share for a total of 1.1289 million yuan [1] Group 2 - As of the end of May 2025, Shanzi Gaoke announced the repurchase of 460,000 shares at a cost of 1.01 million yuan, with repurchase prices ranging from 2.19 to 2.24 yuan per share [2] - On June 9, 2025, the company held a temporary board meeting to review the proposal for the 2024 annual general meeting of shareholders [2] - On May 17, 2025, Shanzi Gaoke announced the sale of 80% equity in its subsidiary Yunfeng Automobile for 24.6 million yuan, which the company described as an important measure to optimize its main business structure [2] Group 3 - Shanzi Gaoke's main business includes automotive parts, property management, and complete vehicle manufacturing, with the automotive parts segment contributing over 60% of its revenue [2] - In the first quarter of 2025, the company reported operating revenue of 1.051 billion yuan and a net profit attributable to shareholders of 82.83 million yuan [2]

关于召开2024年年度股东大会的通知 证券代码：000981 证券简称：山子高科 公告编号：2025-045 山子高科技股份有限公司 通过深圳证券交易所互联网投票系统投票的具体时间为2025年6月30日 9:15—15:00期间的任意时间。 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。 （二）股东大会的召集人：公司董事会 （三）会议召开的合法合规性说明：公司第九届董事会第九次临时会议审议通 过了《关于提请召开2024年年度股东大会的议案》，本次股东大会的召开符合有关 法律、行政法规、部门规章、规范性文件、深交所业务规则和《公司章程》等的规 定。 （四）会议召开的日期和时间 （五）会议召开方式：本次股东大会采用现场表决与网络投票相结合的方式。 公司将通过深圳证券交易所系统和互联网投票系统（http://wltp.cninfo.com.cn）向公 司股东提供网络形式的投票平台，股东可以在网络投票的时间内通过上述系统行使 表决权。同一表决权只能选择现场投票和网络投票其中的一种方式。网络投票包含 深圳证券交易所系统和互联网系统两种投票方式，同一表决权只能选择其中一 ...

证券代码：000981 证券简称：山子高科 公告编号：2025-044 经与会董事认真审议，会议以投票表决的方式表决审议通过如下议案： （一）审议通过《关于提请召开 2024 年年度股东大会的议案》 表决结果：9 票同意，0 票反对，0 票弃权。 山子高科技股份有限公司 关于第九届董事会第九次临时会议的决议公告 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、会议召开情况 2025 年 6 月 9 日，山子高科技股份有限公司（以下简称"公司"）第九届董事会 第九次临时会议在公司会议室以通讯方式召开。关于本次会议的通知已于 2025 年 6 月 4 日以传真、电子邮件、专人送达的方式送达各位董事。本次会议应参加董事 9 人，实际参加董事 9 名。会议由公司董事长叶骥先生主持，公司监事及高级管理人 员列席会议。本次会议的召开符合《公司法》和《公司章程》的规定。 二、董事会会议审议情况 二〇二五年六月十日 具体内容详见同日披露于巨潮资讯网（http://www.cninfo.com.cn）的《关于召开 2024 年年度股东大会的通知》。 特此公告。 山子高科技 ...

股票简称：山子高科 股票代码：000981 公告编号：2025-043 公司回购股份的时间、回购股份价格及集中竞价交易的委托时段符合《深圳证券交易 所上市公司自律监管指引第 9 号——回购股份》第十七条、十八条的相关规定。 山子高科技股份有限公司 关于股份回购的进展公告 本公司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。 2024 年 7 月 25 日，山子高科股份有限公司（以下简称"公司"）召开第八届董事会第 二十三次临时会议，审议通过《关于回购公司股份方案的议案》，公司拟以 6 亿元-10 亿 元回购公司股份，回购股份的价格为不超过 1.60 元/股（含）。本次回购股份的实施期限 为自董事会审议通过本次回购股份方案之日起不超过 6 个月。具体内容详见公司于 2024 年 8 月 2 日在指定媒体披露的《回购股份报告书》（2024-050）。 公司于 2024 年 12 月 31 日召开第九届董事会第二次临时会议审议通过《关于调整回购 股份价格上限的议案》，具体调整包括：将回购股份的价格上限由不超过人民币 1.60 元/ 股调整为不超过人民币 3.35 元/股，除 ...

关于持股 5%以上非第一大股东部分股份因执行司法裁定 完成过户暨股份变动比例超过 1%的公告 本公司董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、误导 性陈述或者重大遗漏。 股票简称：山子高科 股票代码：000981 公告编号：2025-042 山子高科技股份有限公司 | 信息披露义务人 | 西藏银亿投资管理有限公司、宁波圣洲投资有限公司 | | --- | --- | | | 1、西藏银亿投资管理有限公司 | | | 住所：拉萨经济技术开发区大连路以西、格桑路以北总部经济 | | 住所 | 基地 B 栋 1 单元 10 楼 1001 号 | | | 2、宁波圣洲投资有限公司 | | | 住所：江北区慈城镇慈湖人家 339 号 203 室 | 1．基本情况 1 | 权益变动时间 2025 5 | | 年 月 | 29 | 日 | | | | --- | --- | --- | --- | --- | --- | --- | | 股票简 | 山子高科 | | | 股票代码 | 000981 | | | 称 | | | | | | | | 变动类 | | | | | | | | 型（可多 减少√ | ...

Core Viewpoint - The company, Shanzi High-Tech Co., Ltd. (山子高科), is undergoing a strategic shift by selling 80% of its subsidiary, Yunfeng Automobile Co., Ltd. (云枫汽车), for 24.6 million yuan to focus on enhancing its core business and improving operational efficiency [2][5]. Group 1: Company Overview - Shanzi High-Tech, formerly known as Yinyi Co., Ltd., has transitioned from a real estate focus to a concentration on vehicle manufacturing, including both traditional and new energy vehicles [3]. - The company has established a comprehensive manufacturing ecosystem that includes high-end components, vehicle manufacturing, and semiconductor materials [6]. Group 2: Financial Performance - In 2024, Yunfeng Automobile generated revenue of 513 million yuan, contributing 10.20% to Shanzi High-Tech's total revenue, but reported a net loss of 75.71 million yuan [4]. - For the first quarter of 2025, Yunfeng's revenue was 127 million yuan, continuing to incur a net loss of 30.80 million yuan [4]. - Shanzi High-Tech's overall revenue for 2024 was 4.97 billion yuan, with a net profit loss of 1.73 billion yuan, marking a 6.85% decline in revenue year-on-year [7]. Group 3: Strategic Decisions - The decision to sell Yunfeng Automobile is aimed at reallocating resources to enhance the development of new vehicle models, thereby improving the company's competitive edge [5]. - Despite the strategic rationale, there was dissent from a board member regarding the potential legal risks and the alignment of this sale with the company's previous plans [5]. Group 4: Market Position and Future Outlook - The automotive industry in China has shown growth, with production and sales reaching 31.28 million and 31.43 million units respectively in 2024, reflecting a year-on-year increase of 3.7% and 4.5% [6]. - Shanzi High-Tech's vehicle production in 2024 included 8,970 passenger vehicles, with significant exports to countries along the Belt and Road Initiative [7]. - The company is also focusing on high-end manufacturing, with its subsidiary, Belgium's Bongi, making strides in the global market for automotive transmissions [8].

Group 1 - The reducer concept sector declined by 3.18%, ranking among the top declines in concept sectors, with companies like Jingjin Electric, Dongfeng Technology, and Guangyang Co. experiencing significant drops [1][2] - Among the reducer concept stocks, three companies saw price increases, with Inner Mongolia First Machinery Group rising by 1.96%, Bohai Automobile by 1.32%, and Yingboer by 0.70% [1][2] Group 2 - The reducer concept sector experienced a net outflow of 3.019 billion yuan, with 85 stocks seeing net outflows, and 8 stocks exceeding 100 million yuan in outflows [2][5] - The stock with the highest net outflow was Shanzi Gaoke, with a net outflow of 421 million yuan, followed by Wuzhou Xinchun, Shanghai Electric, and Zhongding Co. with net outflows of 163 million yuan, 134 million yuan, and 129 million yuan respectively [2][5] - The top net inflow stocks in the reducer concept included Yingboer, Inner Mongolia First Machinery Group, and Bohai Automobile, with net inflows of 20.31 million yuan, 16.07 million yuan, and 15.51 million yuan respectively [5]

Market Performance - The A-share market showed strong performance today, with the Shanghai Composite Index closing at 3363.45 points, up 0.7%, the Shenzhen Component Index at 10127.2 points, up 1.24%, and the ChiNext Index at 2012.55 points, up 1.37% [1] Technology Sector Highlights - The EDA concept and automotive sectors were the main drivers of market enthusiasm, with the EDA sector seeing an overall increase of over 6%, and several stocks like Gexun Electronics hitting the daily limit [2] - The autonomous driving concept also performed well, with stocks like Yunnei Power and Tongda Electric achieving consecutive gains [2] Market Drivers 1. **Policy Support and Liquidity** - The central bank conducted a 266 billion yuan reverse repurchase operation, injecting 111.5 billion yuan into the market, which supports liquidity [3] - Recent financial policy measures include a 0.5% reduction in the reserve requirement ratio and a 0.1% cut in policy rates [3] 2. **Easing Trade Tensions** - A U.S. court ruling against Trump's tariff policy has alleviated global trade tensions, positively impacting market risk appetite [4] 3. **Optimized Fund Structure** - Funds are shifting from banking sectors back to small and medium-sized enterprises, with significant inflows into the electronics sector [5] - Domestic capital flow reversed after a period of outflows, providing momentum for market rebound [5] Future Outlook - Regulatory support is expected to stabilize market expectations, with long-term funds from state-owned entities likely to support the A-share market [6] - A potential rebound in thematic concepts is anticipated in June, following a rotation in market sectors [6]

Market Overview - The Shanghai Composite Index closed at 3363.45 points, up 0.7%, with a trading volume of 453.74 billion yuan [1] - The Shenzhen Component Index closed at 10127.20 points, up 1.24%, with a trading volume of 731.68 billion yuan [1] - The ChiNext Index closed at 2012.55 points, up 1.37%, with a trading volume of 336.65 billion yuan [1] - The STAR Market 50 Index closed at 986.30 points, up 1.61%, with a trading volume of 17.87 billion yuan [1] - The total trading volume of both markets reached 1185.42 billion yuan, an increase of 175.47 billion yuan compared to the previous trading day [1] Sector Performance - Strong sectors included computer, pharmaceutical biology, electronics, national defense and military industry, communication, media, automotive, and machinery equipment [3] - Active concepts included digital currency, recombinant protein, cross-border payment, CRO, financial tax digitalization, noise prevention, data elements, and domestic software [3] - Weak sectors included beauty care, banking, food and beverage, and precious metals [3] Stock Performance - A total of 4226 stocks rose, while 812 stocks fell, with 84 stocks remaining flat and 25 stocks suspended [3] - 118 stocks hit the daily limit up, while 16 stocks hit the daily limit down [3] - Notable stocks with significant limit-up orders included Yunnei Power, Shanzi Gaoke, and ST United, with closing limit-up orders of 99.10 million shares, 66.23 million shares, and 50.35 million shares respectively [3] Fund Flow - The net inflow of main funds in the Shanghai and Shenzhen markets was 7.43 billion yuan, with 16 sectors showing net inflows [7] - The computer sector had the highest net inflow of 5.61 billion yuan, followed by electronics, non-bank financials, automotive, and national defense and military industry [8] - The mechanical equipment sector experienced the largest net outflow of 1.23 billion yuan [8] Individual Stock Highlights - 71 stocks saw net inflows exceeding 100 million yuan, with Shanzi Gaoke leading at 711 million yuan [10] - Stocks with significant net outflows included Rongfa Nuclear Power, with a net outflow of 764 million yuan, followed by Xue Ren Shares and BYD [14] - Institutional buying was led by Wangzi New Materials, with a net purchase of approximately 41.11 million yuan [18]

Core Viewpoint - The recent introduction of new merger and acquisition regulations has led to increased interest and investment in ST stocks, particularly those with restructuring expectations, despite the need for cautious observation in the long term [1][2]. Group 1: Market Activity and Trends - The ST sector index has risen by 5.11% as of May 21, driven by expectations of restructuring [1]. - *ST赛隆 has seen a significant price increase of 60.23% from April 29 to May 22, reflecting heightened market speculation regarding its potential restructuring [2]. - The new merger and acquisition regulations have revitalized interest in ST stocks and micro-cap stocks, particularly after the disclosure of annual reports, which often reveal poor performance leading to valuation declines [2]. Group 2: Institutional Investment - In the first quarter, several public funds, including those from 易方达, 景顺长城, and 博时, have heavily invested in ST stocks, indicating a strategic focus on these assets [1][4]. - As of the end of last week, 21 public institutions participated in 31 A-share companies' private placements, with a total allocation of 9.785 billion yuan and a floating profit of 1.695 billion yuan, representing a floating profit ratio of 17.32% [3]. Group 3: Company-Specific Developments - Companies like *ST华通 and 东方通 have been highlighted for their significant presence in public fund portfolios, with 东方通 facing severe audit issues leading to risk warnings [4]. - *ST松发 has received approval for restructuring through major asset swaps, indicating ongoing interest from public funds despite the overall decline in interest in ST stocks due to stricter delisting regulations [5].