Core Viewpoint - *ST Baoying (002047.SZ) has announced unusual stock trading fluctuations and plans to establish a wholly-owned subsidiary in the high-end optocoupler sector after introducing new shareholder, Shitong Niu. The new subsidiary is still in the preparatory stage and is not expected to impact the company's current year operating results [1] Group 1: Company Developments - The company is in the process of setting up a new wholly-owned subsidiary focused on the high-end optocoupler market [1] - The establishment of the new subsidiary is still in the preparatory phase and will not affect the company's operational performance for the current year [1] Group 2: Investment Considerations - The company currently lacks technological reserves and sufficient talent in the high-end optocoupler industry [1] - As of now, the company has not engaged in any related business activities, signed investment cooperation agreements, or initiated production line construction in the high-end optocoupler sector [1] - There is uncertainty regarding the ability to develop substantial business, generate operational benefits, and achieve commercialization in this new field [1] Group 3: Business Integration Risks - The new business in the high-end optocoupler sector is significantly different from the company's existing operations, which may lead to challenges in synergy and integration [1] - Potential adverse impacts on the company's overall operations due to the lack of alignment between the new and existing business areas [1]

Core Viewpoint - The stock of *ST Baoying experienced abnormal fluctuations with a cumulative closing price increase deviation exceeding 12% over three consecutive trading days from November 4 to 6 [1] Financial Performance - For the first three quarters of 2025, the company reported revenue of 515.08 million yuan, a year-on-year decrease of 65.79% [1] - The net profit for the same period was -33.75 million yuan, reflecting a year-on-year reduction in losses of 92.21% [1] - The owner's equity stood at -31.90 million yuan, a decrease of 4.21 million yuan compared to the end of the previous year [1] Listing Risk - If the owner's equity does not turn positive by year-end, the company's stock will face delisting [1] Control Change and Business Development - There are significant uncertainties regarding the implementation of control change matters [1] - The plan to establish a subsidiary in the high-end optocoupler field is still in the preparatory stage, presenting various risks [1]

Market Overview - The decoration and renovation sector increased by 2.64% compared to the previous trading day, with Hainan Development 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] Key Stocks Performance - Hainan Development (002163) closed at 16.52, up 9.99% with a trading volume of 1.58 million shares and a transaction value of 2.496 billion [1] - Meizhi Co., Ltd. (002856) closed at 12.55, up 6.99% with a trading volume of 177,500 shares and a transaction value of 223 million [1] - ST Dongyi (002713) closed at 13.18, up 5.02% with a trading volume of 73,300 shares and a transaction value of 95.8 million [1] - ST Baoying (002047) closed at 3.56, up 5.01% with a trading volume of 101,300 shares and a transaction value of 36.07 million [1] - De Cai Co., Ltd. (605287) closed at 32.25, up 4.10% with a trading volume of 42,800 shares and a transaction value of 133 million [1] Capital Flow Analysis - The decoration and renovation sector saw a net inflow of 221 million from main funds, while retail funds experienced a net outflow of 30.08 million [2] - Main funds showed significant net inflows in Hainan Development (2.33 million) and Meizhi Co., Ltd. (4.03 million), while retail funds showed outflows in these stocks [3] - ST Baoying had a net inflow of 909.32 million from main funds, indicating strong institutional interest despite retail outflows [3]

Market Overview - On November 4, the Shanghai Composite Index opened higher but later fluctuated and closed at 3960.19 points, down 0.41% with a trading volume of 852.9 billion yuan [1] - The Shenzhen Component Index closed at 13175.22 points, down 1.71% with a trading volume of 1062.82 billion yuan [1] - The ChiNext Index closed at 3134.09 points, down 1.96% with a trading volume of 481.31 billion yuan [1] - The total trading volume of both markets was 1915.72 billion yuan, a decrease of 191.41 billion yuan compared to the previous trading day [1] Sector Performance - Among industry sectors, banks, insurance, public utilities, environmental protection, and textile and apparel sectors showed positive performance [3] - Concepts related to ice and snow economy, lottery, tourism, land transfer, and aquaculture were active [3] - Sectors such as non-ferrous metals, precious metals, power equipment, pharmaceutical biology, chemicals, electronics, computers, and automobiles experienced declines [3] Individual Stock Performance - A total of 1596 stocks rose while 3408 stocks fell, with 151 stocks remaining flat and 9 stocks suspended [3] - There were 68 stocks hitting the daily limit up and 11 stocks hitting the daily limit down [3] - ST Zhongdi led with 13 consecutive limit-up days, followed by *ST Baoying with 7 consecutive days [5] Capital Flow - The net outflow of main funds in the Shanghai and Shenzhen markets was 57.534 billion yuan, with the ChiNext experiencing a net outflow of 25.843 billion yuan [6] - Only two sectors, light industry manufacturing and comprehensive, saw net inflows of 1.05 billion yuan and 0.48 billion yuan respectively [6] - The power equipment sector had the highest net outflow of 10.795 billion yuan [6] Notable Stocks - 1988 stocks saw net inflows, with 51 stocks receiving over 100 million yuan in net inflows [10] - Snowman Group had the highest net inflow of 495 million yuan, followed by Dongshan Precision and Wanlima [10][11] - 3166 stocks experienced net outflows, with 169 stocks seeing over 100 million yuan in net outflows [13] - Yangguang Electric Power had the largest net outflow of 1.608 billion yuan [14][15] Institutional Activity - Institutional net buying totaled approximately 315 million yuan, with 14 stocks seeing net purchases [18] - The stock with the highest institutional net buying was Haixia Innovation, with a net purchase of approximately 224 million yuan [18][19]

Group 1 - Company has approved a financing guarantee of up to RMB 5 billion for itself and its subsidiaries to apply for financing from various financial institutions in 2025 [1][6] - The guarantee includes new guarantees, existing guarantees, and renewals of existing guarantees, effective until the next annual general meeting [1][6] - Company has signed a loan agreement with Huaxia Bank for RMB 350 million, secured by real estate assets [3][6] Group 2 - The collateral for the loan has been changed from land use rights to 23 commercial properties in Nanshan District, Shenzhen, with a total area of 15,094.4 square meters [6] - The total approved guarantee amount for the company and its subsidiaries is RMB 5 billion, with a current balance of RMB 288.21 million after the new guarantee [6] - There are no overdue debts or illegal guarantees reported by the company [6] Group 3 - Company stock experienced abnormal trading fluctuations, with a cumulative price deviation exceeding 12% over three consecutive trading days [10] - Company has confirmed that there are no undisclosed significant matters affecting stock prices and that recent operational conditions remain stable [11][12][13] - The company is under risk warning due to negative equity reported in the previous fiscal year [17]

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、股票交易异常波动的情况介绍 深圳市宝鹰建设控股集团股份有限公司（以下简称"公司"、"上市公司"、 "宝鹰股份"）股票（证券代码：002047，证券简称：*ST 宝鹰）于 2025 年 10 月 30 日、2025 年 10 月 31 日、2025 年 11 月 3 日连续三个交易日收盘价格涨幅 偏离值累计超过 12%，根据《深圳证券交易所交易规则》等有关规定，公司股票 交易属于异常波动的情形。 证券代码：002047 证券简称：*ST 宝鹰 公告编号：2025-083 深圳市宝鹰建设控股集团股份有限公司 关于股票交易异常波动的公告 二、公司关注及核实情况说明 针对公司股票交易异常波动的情况，公司对有关事项进行了核查，现说明如 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。 2、2025 年 4 月 25 日，公司披露《关于公司股票交易被实施退市风险警示 叠加其他风险警示暨股票停牌的提示性公告》（公告编号：20 ...

关于公司向金融机构申请融资提供担保的进展公告 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。 证券代码：002047 证券简称：宝鹰股份 公告编号：2025-084 深圳市宝鹰建设控股集团股份有限公司 一、担保情况概述 深圳市宝鹰建设控股集团股份有限公司（以下简称"公司"）于 2025 年 4 月 23 日分别召开了第八届董事会第二十六次会议、第八届监事会第十九次会议， 2025 年 5 月 15 日召开 2024 年度股东大会审议通过了《关于公司及子公司向金 融机构申请 2025 年度融资额度的议案》《关于 2025 年度公司及子公司向金融机 构融资提供担保的议案》，同意 2025 年度公司及全资、控股子公司（均为合并 报表范围内的子公司，以下统称"子公司"）向包括但不限于银行、保理公司、 融资租赁公司、融资担保公司等金融机构或类金融机构申请合计不超过人民币 50 亿元的融资额度，在具体融资业务办理过程中，公司及子公司为公司及子公 司向包括但不限于银行、保理公司、融资租赁公司、融资担保公司等金融机构或 类金融机构融资提供累计不超过人民币 50 亿元的担保，担 ...

New Stock Issuance - New stock for Beikang Testing (920160) issued at a price of 6.70 on November 3, 2025[1] - New stock for Danna Biology (920009) issued at a price of 17.10 on November 3, 2025[1] Market Alerts - ST Zhongdi (000609) announced significant abnormal fluctuations on October 30, 2025[1] - Jiangbolong (301308) reported severe abnormal fluctuations on October 30, 2025[1] - Xiangnan Chip (300475) disclosed abnormal fluctuations on October 24, 2025[1] - Shangtai Technology (001301) announced abnormal fluctuations on November 3, 2025[1] - Hainan Development (002163) reported abnormal fluctuations on November 3, 2025[1] - Zhongrui Co., Ltd. (002374) disclosed abnormal fluctuations on November 3, 2025[1] - Fujian Jinsen (002679) announced abnormal fluctuations on November 3, 2025[1] - Yongxing Materials (002756) reported abnormal fluctuations on November 3, 2025[1] - Xinhongze (002836) disclosed abnormal fluctuations on November 3, 2025[1] - Guocheng Mining (000688) announced abnormal fluctuations on November 3, 2025[1]

Core Points - *ST Baoying (sz002047) reached the daily limit with a price of 3.23 yuan, an increase of 4.87%, and a total market capitalization of 4.897 billion yuan [1] - The stock's surge is attributed to the new controlling shareholder, business transformation, and financial improvement [1] Group 1: New Controlling Shareholder - Hainan Shitong Niu has become the controlling shareholder through agreement transfer and directed issuance, bringing in 800 million yuan in funding [1] - The new shareholder has committed to a net profit of no less than 400 million yuan over the next three years [1] Group 2: Business Transformation - The company plans to expand into the high-end optocoupler business, transitioning from construction decoration to semiconductor optoelectronic devices [1] - Successful transformation could open new growth opportunities, especially as the semiconductor industry is currently attracting market attention [1] Group 3: Financial Improvement - The company's Q3 2025 report shows a net profit attributable to shareholders of -33.75 million yuan, a year-on-year increase of 92.22%, indicating a trend of performance improvement [1] - Despite existing risks in the company's fundamentals, the transformation initiatives and performance improvement expectations have drawn market interest [1]

Group 1 - The company held its 34th meeting of the 8th Board of Directors on October 30, 2025, with all 8 directors present, confirming the legality and validity of the meeting procedures [2][3] - The Board approved the 2025 Q3 report with unanimous support, which was previously reviewed by the Audit Committee [3] Group 2 - The company announced the completion of the transfer of its 50.10% stake in Danhua Renewable Energy (Zhuhai) Technology Co., Ltd. to Qixian Yuexin (Linyi) Investment Development Co., Ltd., with all registration procedures finalized [6][8] - Following the transfer, Danhua Renewable Energy will no longer be included in the company's consolidated financial statements [8] Group 3 - The company provided a brief overview of its main operational situation for Q3 2025, including order data presented in RMB ten thousand [10]