Market Overview - The logistics sector experienced a decline of 0.92% on November 17, with *ST Yuan Shang leading the drop [1] - The Shanghai Composite Index closed at 3972.03, down 0.46%, while the Shenzhen Component Index closed at 13202.0, down 0.11% [1] Stock Performance - Notable gainers in the logistics sector included: - Longzhou Co., Ltd. (002682) with a closing price of 7.13, up 10.03% [1] - *ST Haiqin (600753) with a closing price of 8.40, up 5.00% [1] - Tiens Group (002800) with a closing price of 16.12, up 4.00% [1] - Conversely, *ST Yuan Shang (603813) saw a significant decline of 5.00%, closing at 35.88 [2] Trading Volume and Capital Flow - The logistics sector recorded a net outflow of 319 million yuan from institutional investors, while retail investors saw a net inflow of 222 million yuan [2] - The trading volume for Longzhou Co., Ltd. reached 45,700 hands with a transaction value of approximately 32.6 million yuan [1] Individual Stock Capital Flow - Key capital flows for selected stocks included: - Longzhou Co., Ltd. (002682) had a net inflow of 12.36 million yuan from institutional investors, representing 37.92% of its total trading [3] - Tiens Group (002800) saw a net inflow of 11.51 million yuan, accounting for 5.96% of its trading [3] - *ST Haiqin (600753) experienced a net inflow of 5.56 million yuan, representing 6.99% of its trading [3]

Core Viewpoint - The logistics sector experienced a decline of 0.42% on November 11, with ST Xuefa leading the losses, while the Shanghai Composite Index closed at 4002.76, down 0.39% [1]. Group 1: Market Performance - The logistics sector's individual stock performance showed mixed results, with notable gainers including ST Yuanshang (+5.01%) and Chuanhua Zhili (+4.77%), while ST Xuefa fell by 5.07% [1][2]. - The trading volume for Chuanhua Zhili reached 1.31 million shares, with a transaction value of 857 million yuan, indicating strong market interest [1]. Group 2: Capital Flow - The logistics sector saw a net outflow of 356 million yuan from institutional investors, while retail investors contributed a net inflow of 374 million yuan [2]. - The capital flow data indicates that while institutional investors withdrew funds, retail investors were actively buying into the sector [2][3]. Group 3: Individual Stock Analysis - ST Xuefa had a significant drop in share price, closing at 4.68 yuan with a trading volume of 202,900 shares and a transaction value of 96.83 million yuan [2]. - Other notable declines included Yunda Holdings (-0.66%) and China Foreign Trade (-1.55%), reflecting a broader trend of selling pressure in the logistics sector [2].

Core Insights - The logistics sector experienced a rise of 1.44% on November 10, with *ST Yuanshang leading the gains [1] - The Shanghai Composite Index closed at 4018.6, up 0.53%, while the Shenzhen Component Index closed at 13427.61, up 0.18% [1] Stock Performance - *ST Yuanshang (603813) closed at 34.35, up 5.01% with a trading volume of 15,300 [1] - Guanghui Logistics (600603) closed at 7.80, up 3.59% with a trading volume of 288,600 [1] - Xiamen Xiangyu (600057) closed at 8.70, up 3.33% with a trading volume of 361,800 [1] - Jianshe Co. (600153) closed at 10.56, up 3.12% with a trading volume of 357,800 [1] - Milkewei (603713) closed at 61.84, up 3.00% with a trading volume of 29,200 [1] - Shentong Express (002468) closed at 15.54, up 2.57% with a trading volume of 247,800 [1] - Chuanhua Zhili (002010) closed at 6.29, up 2.44% with a trading volume of 415,600 [1] - YTO Express (600233) closed at 16.85, up 2.12% with a trading volume of 149,200 [1] - *ST Haiqin (600753) closed at 7.78, up 2.10% with a trading volume of 29,500 [1] - SF Holding (002352) closed at 40.80, up 2.05% with a trading volume of 362,500 [1] Capital Flow - The logistics sector saw a net inflow of 84.64 million yuan from main funds, while retail funds experienced a net outflow of 100 million yuan [2] - Retail investors contributed a net inflow of 15.74 million yuan [2] Individual Stock Capital Flow - SF Holding (002352) had a main fund net inflow of 1.15 million yuan, with retail net inflow of 15.41 million yuan [3] - Chuanhua Zhili (002010) saw a main fund net inflow of 28.29 million yuan, but retail funds had a net outflow of 13.33 million yuan [3] - Shanghai Yashi (603329) experienced a main fund net inflow of 20.30 million yuan, with a retail net outflow of 14.06 million yuan [3] - Guanghui Logistics (600603) had a main fund net inflow of 9.01 million yuan, with retail net outflow of 7.86 million yuan [3]

Group 1 - ST Xuefa's stock opened high on November 10, reaching a limit up before experiencing a sudden drop, resulting in a "heaven and earth board" phenomenon, with a trading volume exceeding 100 million yuan [1] - The stock had previously experienced six consecutive trading days of limit up [1] Group 2 - On November 6, ST Xuefa announced that its stock price had deviated by more than 12% over three consecutive trading days (November 4, 5, and 6) [3] - The company stated that its recent operational situation is normal and that there have been no significant changes in the internal operating environment [3] - The announcement clarified that ST Xuefa and its related party, Xuesong Industrial Group Co., Ltd., are under the same actual controller but operate independently in terms of business, personnel, assets, institutions, and finance, ensuring no significant adverse impact on the company's normal operations and governance [3]

Core Viewpoint - ST Xuefa experienced a significant drop, hitting the daily limit down, with a trading volume exceeding 880 million yuan [1] Group 1 - The stock of ST Xuefa reached a "Tian Di Ban" (a term indicating a stock hitting both the upper and lower limits in a single trading day) [1] - The trading volume for ST Xuefa surpassed 880 million yuan during this trading session [1]

Market Overview - The logistics sector increased by 0.2% on November 7, with ST Xuefa leading the gains [1] - The Shanghai Composite Index closed at 3997.56, down 0.25%, while the Shenzhen Component Index closed at 13404.06, down 0.36% [1] Top Gainers in Logistics Sector - ST Xuefa (002485) closed at 5.19, up 5.06% with a trading volume of 40,600 shares [1] - *ST Yuanshang (603813) closed at 32.71, up 5.01% with a trading volume of 18,300 shares [1] - Milkway (603713) closed at 60.04, up 3.16% with a trading volume of 23,800 shares [1] - Eastern Airlines Logistics (601156) closed at 16.94, up 2.98% with a trading volume of 140,800 shares [1] - Haicheng Bangda (603836) closed at 15.69, up 2.55% with a trading volume of 61,400 shares [1] Top Losers in Logistics Sector - Shentong Express (002468) closed at 15.15, down 2.07% with a trading volume of 242,600 shares [2] - Furande (605050) closed at 14.61, down 1.95% with a trading volume of 60,800 shares [2] - Haichen Co. (300873) closed at 22.46, down 1.71% with a trading volume of 30,600 shares [2] Capital Flow Analysis - The logistics sector experienced a net outflow of 45.68 million yuan from institutional investors, while retail investors saw a net inflow of 84.07 million yuan [2][3] - Major stocks like Eastern Airlines Logistics had a net inflow of 39.87 million yuan from institutional investors [3] - Milkway had a net inflow of 14.29 million yuan from institutional investors, but a net outflow from retail investors of 18.57 million yuan [3]

Core Viewpoint - ST Xuefa has experienced a significant surge in stock price, achieving six consecutive daily limit-ups, with a total increase of 33.76% during this period [2] Company Performance - The company reported a total operating revenue of 559 million yuan for the first three quarters, representing a year-on-year decline of 9.43% [2] - The net profit for the same period was -45.71 million yuan, a decrease of 25.47% year-on-year, with basic earnings per share at -0.0840 yuan [2] Stock Market Activity - As of 9:25 AM, the stock price was 5.19 yuan, with a turnover rate of 0.30% and a trading volume of 1.6398 million shares, amounting to a transaction value of 8.51 million yuan [2] - The stock has been listed on the龙虎榜 due to a cumulative closing price increase deviation of 12% over three consecutive trading days [2] - Institutional investors net sold 4.5892 million yuan, while other trading desks collectively net bought 5.8452 million yuan [2] Recent Trading Data - The stock's daily price changes and turnover rates over the past week indicate fluctuating investor sentiment, with notable net inflows and outflows of capital [2]

Core Points - ST Xuefa reached a limit-up price of 4.94 yuan, with a rise of 5.06%, and a total market capitalization of 2.823 billion yuan on November 7, 2025 [1] - The stock's limit-up was attributed to several factors including governance upgrades, real estate income, and improved cash flow [2] Group 1: Governance and Financial Performance - The company recently revised 11 core systems, including articles of association and rules for meetings, enhancing corporate governance and operational efficiency, which boosts market confidence [2] - In the first half of 2025, the company recognized a fair value gain of 43.88 million yuan from investment properties, significantly improving its profit situation [2] - The net cash flow from operating activities improved by 29.05% year-on-year, indicating positive changes in financial management and operational stability [2] Group 2: Market Dynamics - Despite the company's ST status and negative factors such as consolidated losses and related party fund occupation, the positive developments have attracted market attention [2] - The logistics sector, to which the company belongs, has garnered some market interest, with the company being included in the "Dragon and Tiger List" on November 6, 2025, with a trading volume of 44.11 million yuan [2] - Recent data from the "Dragon and Tiger List" indicates net selling by institutions, although the fundamental improvements may have contributed to the stock's limit-up [2]

Group 1 - The company's stock (ST Xuefa, code: 002485) experienced an abnormal trading fluctuation, with a cumulative closing price deviation exceeding 12% over three consecutive trading days (November 4, 5, and 6, 2025) [2] - The company confirmed that there are no corrections or supplements needed for previously disclosed information as of the announcement date [3] - No significant undisclosed information has been found that could have impacted the stock price, and the company's operational situation remains normal without major changes [4][5] Group 2 - The company maintains complete independence from its controlling shareholder, Xuesong Industrial Group, in terms of business, personnel, assets, institutions, and finances, ensuring no adverse impact on its operations and governance [5] - The company's controlling shareholder did not engage in any stock trading during the period of abnormal trading fluctuations [6] - The board confirmed that there are no undisclosed matters that should be disclosed according to the Shenzhen Stock Exchange rules, and no other significant information affecting the stock price has been identified [7]

证券代码：002485 证券简称：ST雪发 公告编号：2025-033 雪松发展股份有限公司 股票交易异常波动公告 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。 一、股票交易异常波动的情况介绍 雪松发展股份有限公司（以下简称"公司"）股票（证券代码：002485，证 券简称：ST雪发）连续3个交易日（2025年11月4日、11月5日和11月6日）内日收 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》的有关规定， 属于股票交易异常波动。 二、对重要问题的关注、核实情况说明 针对公司股票异常波动，公司对有关事项进行核实，现将核实结果说明如下： 1、截至本公告披露日，公司前期披露的信息不存在需要更正、补充之处。 2、目前，未发现近期公共传媒报道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。 3、近期公司经营情况正常，内部经营环境未发生重大变化。 公司虽与雪松实业集团有限公司（以下简称"雪松实业"）等关联方为同一 实际控制人控制下的企业，但公司与雪松实业等关联方在业务、人员、资产、机 构、财务等方面完全分开，保持独立。因此，雪松实业等关 ...