Market Overview - On November 12, the trading volume of the Shanghai and Shenzhen stock markets reached 1.95 trillion yuan, a decrease of 48.6 billion yuan compared to the previous trading day [1] - Sectors that saw significant gains included insurance, pharmaceuticals, oil and gas, and brain-computer interfaces, while sectors that experienced declines included cultivated diamonds, photovoltaics, BC batteries, wind power equipment, and controllable nuclear fusion [1] Stock Performance - Notable stocks with significant gains included: - HeFu China (+10.02%, 20.09 yuan) with a focus on cross-strait medical and in vitro diagnostics, achieving 12 days of 11 consecutive gains [2] - Moen Electric (+10.04%, 13.81 yuan) related to grid equipment and production bases in Thailand, achieving 7 consecutive gains [2] - FuRi Co. (+10.02%, 9.55 yuan) involved in electrolyte additives and coating materials, achieving 5 consecutive gains [2] - Other stocks with notable performance included: - Dongbai Group (+10.05%, 60.6 yuan) and Sanmu Group (+10.05%, 6.57 yuan) with 6 days and 4 days of consecutive gains respectively [3] Trading Dynamics - The top three net buying stocks on the day were: - Aerospace Intelligent Equipment (+16.57%, 27.15 yuan) with a net buying amount of 1.84 billion yuan [5] - Chang Aluminum (+7.21%, 6.54 yuan) with a net buying amount of 1.34 billion yuan [5] - Material Xiang Co. (+19.98%, 21.14 yuan) with a net buying amount of 971.18 million yuan [5] - The top three net selling stocks were: - Hailu Heavy Industry (-9.64%, 12.47 yuan) with a net selling amount of 1.77 billion yuan [6] - Yunhan Chip City (+1.93%, 185.51 yuan) with a net selling amount of 1.25 billion yuan [6] - Te Yi Pharmaceutical (+5.09%, 13.41 yuan) with a net selling amount of 1.04 billion yuan [6] Sector Insights - Aerospace Intelligent Equipment is capitalizing on commercial aerospace opportunities, promoting ground simulation equipment and micro-systems, and expanding its commercial aerospace user base [11] - Chang Aluminum has established a complete aluminum processing industry chain, gaining recognition from major clients in the new energy battery shell and automotive heat exchange materials [14] - KeXiang Co. is focusing on storage chips and PCB technology, with significant advancements in AI server applications and 800G optical modules [18]

Group 1: Strong Stocks - As of November 12, the Shanghai Composite Index fell by 0.07% to 4000.14 points, the Shenzhen Component Index decreased by 0.36% to 13240.62 points, and the ChiNext Index dropped by 0.39% to 3122.03 points [1] - The top three strong stocks today are Moen Electric (002451) with a 7-day continuous rise, Furui Shares (002083) with a 5-day continuous rise, and Dongbai Group (600693) with 4 rises in 6 days [1] - Moen Electric had a turnover rate of 34.88% and a transaction amount of 2.038 billion yuan, while Furui Shares had a turnover rate of 29.45% and a transaction amount of 2.495 billion yuan [1] Group 2: Strong Concept Sectors - The top three concept sectors with the highest increase are Cell Immunotherapy, Combustible Ice, and Monkeypox Concept [2] - The Cell Immunotherapy sector saw a decline of 2.2%, with 71.19% of its component stocks rising [2] - The Monkeypox Concept sector had a decline of 1.57%, with 76.0% of its component stocks increasing [2]

New Stock Issuance - The stock code 300277 (Hai Lian Xun) has a subscription period for acquisition rights from November 12 to November 18, 2025[1] - Stock code 688353 (Hua Sheng Lithium) reported severe abnormal fluctuations on November 11, 2025[1] - Stock code 603122 (He Fu China) has an announcement dated November 8, 2025[1] Trading Alerts - Stock code 601888 (China Zhong Mian) has an announcement dated November 12, 2025[1] - Stock code 600537 (Yi Jing Guang Dian) has an announcement dated November 12, 2025[1] - Stock code 688028 (Wo Er De) has an announcement dated November 12, 2025[1] Abnormal Fluctuations - Stock code 600815 (Xia Gong Co.) reported abnormal fluctuations on November 6, 2025[2] - Stock code 603557 (ST Qi Bu) reported abnormal fluctuations on November 7, 2025[3] - Stock code 002478 (Chang Bao Co.) reported abnormal fluctuations on November 7, 2025[3]

Core Viewpoint - Moen Electric experienced a significant increase in stock price, reaching the daily limit with a turnover rate of 34.88% and a transaction volume of 2.038 billion yuan, indicating strong market interest and volatility [1] Group 1: Trading Activity - The stock's daily price deviation reached 10.39%, and the turnover rate was 34.88%, leading to its listing on the Shenzhen Stock Exchange's watchlist [1] - Institutional investors net sold 29.845 million yuan, while brokerage seats collectively net bought 78.1226 million yuan [1] - The top five brokerage seats accounted for a total transaction volume of 388 million yuan, with a net buying amount of 48.2776 million yuan [1] Group 2: Fund Flow - The stock saw a net outflow of 33.9056 million yuan in principal funds, with large orders showing a net inflow of 39.7151 million yuan and large orders showing a net outflow of 73.6207 million yuan [1] - Over the past five days, the stock experienced a net outflow of 482 million yuan in principal funds [1] Group 3: Margin Trading Data - As of November 11, the margin trading balance for the stock was 171 million yuan, with a financing balance of 170 million yuan and a securities lending balance of 567,300 yuan [2] - The financing balance increased by 19.6013 million yuan over the past five days, representing a growth of 13.01%, while the securities lending balance rose by 147,400 yuan, a growth of 35.10% [2] Group 4: Brokerage Activity - The top buying brokerage was CITIC Securities Zhejiang Branch, with a buying amount of 57.9746 million yuan and a selling amount of 10.926 million yuan [2] - Institutional specialized seats were involved in both buying and selling, with significant amounts traded [2]

Market Overview - The net outflow of main funds in the power equipment sector was 5.332 billion yuan, while retail investors saw a net inflow of 4.811 billion yuan on the same day [2][3] - The Shanghai Composite Index closed at 4000.14, down 0.07%, and the Shenzhen Component Index closed at 13240.62, down 0.36% [1] Stock Performance - The power equipment sector experienced an overall decline of 2.67%, with Shunma Electric leading the drop at -10.00% [1][2] - Notable gainers included Hangzhou Colin (+10.67%), Yangdian Technology (+10.27%), and Moen Electric (+10.04%) [1] Trading Volume and Value - The trading volume for Hangzhou Colin was 57,600 lots, with a transaction value of 287 million yuan [1] - Shunma Electric had a trading volume of 189,300 lots and a transaction value of 906 million yuan [2] Fund Flow Analysis - Main funds showed a net inflow in stocks like Huaming Equipment (+3.01% net inflow) and a net outflow in stocks like Baobian Electric (-3.93% net outflow) [3] - Retail investors had a significant net inflow in stocks like Huaming Equipment and a net outflow in stocks like Yangdian Technology [3]

Core Insights - Moen Electric's stock reached a closing price of 13.81 yuan on November 12, with a daily increase of 10.04% and a significant trading volume [1] - The stock experienced a halt in trading at 9:46 AM, with 10 subsequent openings, and the closing order funds amounted to 803.507 million yuan, representing 1.32% of its market capitalization [1] Factors Contributing to Stock Performance - Accelerated layout in the new energy business, with Moen New Energy's production capacity exceeding 30,000 tons, integrating into the supply chain of leading power equipment companies [1] - Progress in internationalization strategy, with a production base in Thailand expected to commence operations in 2025, focusing on UL-certified cables [1] - Policy-driven growth, as the national "Implementation Plan for Large-Scale Equipment Renewal in Key Energy Areas" sets clear targets for the renovation of power transmission and distribution equipment, boosting industry demand [1] - Improvement in fundamentals, with a projected 28.02% year-on-year revenue growth and a 109.27% increase in net profit excluding non-recurring items by Q3 2025, alongside enhanced governance structure improving operational efficiency [1] - Market dynamics, with increased activity in the smart grid and energy storage sectors catalyzed by policy support [1] Fund Flow Analysis - On November 12, the net outflow of main funds was 75.788 million yuan, accounting for 3.72% of the total trading volume, while retail investors saw a net inflow of 57.496 million yuan, representing 2.82% of the total [1] - The fund flow data for the past five days indicates fluctuating trends, with notable net outflows from main funds on several days, contrasting with significant inflows from retail investors [1]

Core Points - Moen Electric has experienced a significant stock price increase, achieving a cumulative rise of 95.06% over the past seven trading days, with a current price of 13.81 yuan [2] - The stock has recorded a high turnover rate of 134.55% during this period, indicating strong trading activity [2] - The company's latest market capitalization is approximately 60.86 billion yuan, with a circulating market value of 60.65 billion yuan [2] Trading Data - As of November 11, the stock's margin trading balance is 171 million yuan, with a financing balance of 170 million yuan, reflecting a 30.81% increase from the previous trading day [2] - The stock has been featured on the Dragon and Tiger list three times due to significant price deviations and turnover rates [2] - Institutional investors have net bought 76.54 million yuan, while total net selling from brokerage seats amounts to 166 million yuan [2] Financial Performance - For the first three quarters, the company reported a revenue of 1.238 billion yuan, representing a year-on-year growth of 28.02% [2] - The net profit for the same period was 7.05 million yuan, showing a decline of 40% year-on-year [2] - The basic earnings per share are reported at 0.0160 yuan, with a weighted average return on equity of 0.92% [2]

Core Insights - Moen Electric's stock price increased by 6.06% to 13.31 CNY per share, with a trading volume of 794 million CNY and a turnover rate of 14.05%, resulting in a total market capitalization of 5.865 billion CNY. The stock has risen for eight consecutive days, with a cumulative increase of 81.1% during this period [1] Company Overview - Shanghai Moen Electric Co., Ltd. was established on October 5, 1997, and went public on July 20, 2010. The company is primarily engaged in cable business, electromagnetic wire business, and quasi-financial services. The revenue composition is as follows: electromagnetic wire and others 81.54%, power cables 12.22%, others (supplementary) 3.27%, electrical equipment wires and cables 2.95%, and communication cables and optical cables 0.02% [1] Shareholder Insights - Jin Yuan Shun An Fund has a fund that ranks among the top ten circulating shareholders of Moen Electric. The fund, Jin Yuan Shun An Yuan Qi Flexible Allocation Mixed (004685), entered the top ten shareholders in the third quarter, holding 1.6982 million shares, which accounts for 0.39% of the circulating shares. The estimated floating profit today is approximately 1.2906 million CNY, with a total floating profit of 9.5439 million CNY during the eight-day increase [2] Fund Performance - Jin Yuan Shun An Yuan Qi Flexible Allocation Mixed (004685) was established on November 14, 2017, with a current scale of 1.432 billion CNY. Year-to-date returns are 45.1%, ranking 1334 out of 8147 in its category; one-year returns are 47.07%, ranking 582 out of 8056; and since inception, the return is 577.65% [2] Fund Manager Profile - The fund manager of Jin Yuan Shun An Yuan Qi Flexible Allocation Mixed (004685) is Miao Weibin, who has a cumulative tenure of 8 years and 334 days. The total asset scale of the fund is 1.432 billion CNY, with the best fund return during his tenure being 573.35% and the worst being -28.79% [2]

截至10月31日，摩恩电气股东户数2.75万，较上期减少1.23%；人均流通股15949股，较上期增加 1.24%。2025年1月-9月，摩恩电气实现营业收入12.38亿元，同比增长28.02%；归母净利润705.08万元， 同比减少40.00%。 分红方面，摩恩电气A股上市后累计派现1.16亿元。近三年，累计派现878.40万元。 机构持仓方面，截止2025年9月30日，摩恩电气十大流通股东中，金元顺安元启灵活配置混合 （004685）位居第十大流通股东，持股169.82万股，为新进股东。 责任编辑：小浪快报 11月11日，摩恩电气涨9.99%，成交额21.12亿元。两融数据显示，当日摩恩电气获融资买入额1.68亿 元，融资偿还1.28亿元，融资净买入4011.38万元。截至11月11日，摩恩电气融资融券余额合计1.71亿 元。 融资方面，摩恩电气当日融资买入1.68亿元。当前融资余额1.70亿元，占流通市值的3.09%，融资余额 超过近一年70%分位水平，处于较高位。 融券方面，摩恩电气11月11日融券偿还0.00股，融券卖出8900.00股，按当日收盘价计算，卖出金额 11.17万元；融券余量4.52万 ...

二、公司关注并核实的情况说明 登录新浪财经APP 搜索【信披】查看更多考评等级 本公司及董事会全体人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 上海摩恩电气股份有限公司（以下简称"公司"或"本公司"）（证券简称：摩恩电气，证券代码： 002451）股票交易价格连续2个交易日内（2025年11月10日、2025年11月11日）收盘价格涨幅偏离值累 计超过20%，根据《深圳证券交易所交易规则》的有关规定，属于股票交易异常波动的情况。 四、相关风险提示 1、经自查，公司不存在违反信息公平披露的情形。 2、公司已于2025年10月27日披露了《2025年第三季度报告》，公司前三季度具体经营情况及财务数据 详见公司《2025年第三季度报告》。公司不存在需要披露业绩预告的情形，亦不存在未公开的定期业绩 信息泄露的情形。 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 司董事及高级管理人员就相关问题进行核实，现就有关情况说明如下： 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 ...