Core Viewpoint - ST Huaxi possesses advanced supercritical boiler technology and is one of the few companies in China capable of independent research, design, and mass production of supercritical complete boiler systems [1] Group 1 - The company has the capability to independently research and design supercritical complete boilers [1] - ST Huaxi can mass-produce supercritical complete boiler systems, highlighting its manufacturing capabilities [1] - The company's supercritical complete boiler products have been successfully operational in multiple projects [1] Group 2 - The primary application of the company's technology is in the field of efficient and clean power generation [1]

（记者 王瀚黎） ST华西（002630.SZ）11月20日在投资者互动平台表示，公司有超超临界锅炉技术储备。公司具备自主 研发设计、并可批量生产制造超临界成套锅炉的能力，为国内少数几家拥有超临界高新锅炉技术研发和 生产制造能力的企业之一。公司超临界成套锅炉产品已在多个项目成功投运。主要应用于高效清洁发电 领域。 每经AI快讯，有投资者在投资者互动平台提问：请问公司有超超临界技术吗，应用场景有哪些？ ...

Market Overview - The other power equipment sector declined by 1.59% on the previous trading day, with Haibosi leading the drop [1] - The Shanghai Composite Index closed at 3939.81, down 0.81%, while the Shenzhen Component Index closed at 13080.49, down 0.92% [1] Individual Stock Performance - Keda (002518) saw a closing price of 46.89 with an increase of 3.49% and a trading volume of 175,200 shares, totaling 825 million yuan [1] - Hu塑科技 (301157) closed at 53.10, up 3.27%, with a trading volume of 17,200 shares, amounting to 90.99 million yuan [1] - Other notable performances include Yingjie Electric (300820) at 58.29, up 0.50%, and Youyou Green Energy (301590) at 182.55, up 0.41% [1] - Conversely, Haibosi (688411) experienced a significant drop of 10.86%, closing at 322.00 with a trading volume of 66,700 shares, totaling 2.213 billion yuan [2] - Other stocks like Hailu Chading (002255) and Aotexun (002227) also faced declines of 9.96% and 5.61%, respectively [2] Capital Flow Analysis - The other power equipment sector experienced a net outflow of 1.08 billion yuan from main funds, while retail investors saw a net inflow of 472 million yuan [2][3] - Notable net inflows from retail investors were observed in stocks like Jintai Technology (002951) with 704.14 million yuan, while Keda (002518) saw a net outflow of 732.7 million yuan from retail investors [3] - The main funds showed a net inflow in stocks like Magmet (002851) with 96.64 million yuan, while other stocks like Shenghong Co. (300693) had a net outflow of 68.73 million yuan from main funds [3]

Core Viewpoint - ST Huaxi (002630.SZ) has faced significant scrutiny following a public reprimand from the Shenzhen Stock Exchange due to a major discrepancy between its 2024 performance forecast and the audited net profit, indicating serious internal control deficiencies [1][3]. Group 1: Performance Discrepancy - ST Huaxi initially projected a net profit of 35 million yuan for 2024, but later revised this to a loss of 3.81 billion yuan, ultimately reporting a net loss of 3.48 billion yuan [2][3]. - The drastic change in performance led to market panic, with the stock price hitting the daily limit down prior to the annual report release, resulting in significant investor losses [2][3]. Group 2: Regulatory Actions - The Shenzhen Stock Exchange issued a public reprimand to ST Huaxi and its executives for failing to fulfill their duties, highlighting the violation of relevant laws due to the significant difference between the performance forecast and actual results [3]. - This is not the first regulatory action against ST Huaxi; the company had previously received a warning due to an internal control audit that was deemed unable to express an opinion [3]. Group 3: Management Changes - Following the regulatory scrutiny, there were significant changes in the management team, including the resignation of Chairman and CEO Li Renchao, who faced legal issues [4]. - The company’s Secretary of the Board, Meng Haitao, also resigned due to the public reprimand but will continue in other executive roles [4]. Group 4: Financial Performance - Despite revenue growth of 117.30% in 2023 and 38.91% in 2024, ST Huaxi has not managed to escape its loss-making situation, with a reported revenue decline of 29.50% in the first three quarters of 2025 [5][6]. - The cumulative losses over five years from 2020 to 2024 amount to approximately 24.46 billion yuan, with annual losses ranging from 1.93 billion to 7.57 billion yuan [4][5]. Group 5: Remedial Actions - In response to the internal control issues and regulatory penalties, ST Huaxi has established a rectification leadership team and is actively working on a comprehensive overhaul of its internal control systems [6][7]. - Some corrective measures have been completed, including the standardization of payment accounts and related party transactions, but the company acknowledges that other issues are still in the process of being addressed [6][7]. Group 6: Future Outlook - The company faces a critical year in 2025, as failure to rectify internal control issues could lead to delisting risks, emphasizing the urgency of their remedial actions [7]. - ST Huaxi's main business segments include equipment manufacturing, engineering contracting, and investment operations, with a revenue composition heavily reliant on total contracting projects [8].

New Stock Issuance - Multiple new stock issuances are scheduled for November 4, 2025, across various companies, including ST Zhongdi (000609) and Pingtan Development (000592) which reported significant abnormal fluctuations[1] - Jiangbolong (301308) and Xiangnong Xinchuan (300475) are among the companies with recent announcements prior to November 4, 2025[1] Abnormal Fluctuations - Pingtan Development (000592) reported severe abnormal fluctuations on November 4, 2025, indicating potential volatility in its stock performance[1] - Other companies such as ST Panda (600599) and ST Huapeng (603021) also reported abnormal fluctuations on the same date, suggesting a trend of instability in the market[1] Market Trends - The report highlights a growing trend of companies experiencing abnormal stock price movements, which may indicate increased market volatility and investor caution[1] - The presence of multiple companies with abnormal fluctuations could signal a broader market trend that investors should monitor closely[1]

Group 1: New Stock Issuances - Multiple new stock issuances are scheduled for October 31, 2025, including Jiangbolong (301308) and Shikong Technology (605178) [1] - A total of 30 companies have announcements related to stock issuance or trading on this date [1] Group 2: Trading Alerts - Jiangbolong (301308) reported severe abnormal fluctuations in trading [1] - Other companies such as ST Wanfang (000638) and Yashichuangneng (603378) also have trading alerts on the same date [1] Group 3: Recent Announcements - Recent announcements include companies like Tianpu Co. (605255) and Kangsheng Co. (002418) with updates on October 31, 2025 [1] - The announcements cover various sectors, indicating a broad market activity [1]

Market Overview - The other power equipment sector experienced a decline of 2.4% on the trading day, with Zhongheng Electric leading the drop [1] - The Shanghai Composite Index closed at 3986.9, down 0.73%, while the Shenzhen Component Index closed at 13532.13, down 1.16% [1] Stock Performance - Notable stock movements included: - Xinfuneng (300593) rose by 11.97% to a closing price of 27.23, with a trading volume of 642,500 shares and a turnover of 1.727 billion yuan [1] - Zhongheng Electric (002364) fell by 8.05% to a closing price of 25.60, with a trading volume of 621,900 shares and a turnover of 1.633 billion yuan [2] - Other significant declines included Maigemit (002851) down 5.48% and Yingjie Electric (300820) down 4.53% [2] Capital Flow - The other power equipment sector saw a net outflow of 2.227 billion yuan from institutional investors, while retail investors contributed a net inflow of 1.740 billion yuan [2][3] - The capital flow for specific stocks indicated: - Zhongheng Electric had a net outflow of 14.05 million yuan from institutional investors [3] - ST Huaxi (002630) experienced a net inflow of 12.12 million yuan from retail investors despite a net outflow from institutional investors [3]

华西能源工业股份有限公司 关于公司股票交易被实施其他风险警示相关事项的进展及风险提示公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假记载、 误导性陈述或重大遗漏。 特别提示： 华西能源工业股份有限公司（以下简称"公司"）2024 年度内部控制被四川华信（集 团）会计师事务所（特殊普通合伙）出具了无法表示意见的《内部控制审计报告》。根 据《深圳证券交易所股票上市规则》第 9.8.1 条第（四）款的规定，公司股票自 2025 年 4 月 30 日开市起被实施"其他风险警示"。 根据《深圳证券交易所股票上市规则》9.4.4 条的规定，上市公司出现下列情形之 一的，应当立即披露股票交易可能被实施退市风险警示的风险提示公告：（五）首个 会计年度财务报告内部控制被出具无法表示意见或者否定意见的审计报告，或者未按 照规定披露财务报告内部控制审计报告； 证券代码：002630 证券简称：ST 华西 公告编号：2025-070 ……公司按照本条第一款第五项规定披露风险提示公告后，应当至少每个月披露 一次相关进展情况和风险提示公告，直至相应情形消除或者公司股票交易被本所实施 退市风险警示。 一、被实施其他 ...

New Stock Issuance - Multiple companies are experiencing significant abnormal fluctuations in stock prices, including 香农芯创 (300475) with a notice date of 2025-10-24[1] - 天普股份 (605255) reported on 2025-10-21[1] - 生益电子 (688183) and 达华智能 (002512) both reported on 2025-10-29[1] Trading Alerts - 21 companies have been flagged for abnormal trading activities as of 2025-10-29, indicating potential volatility in the market[1] - ST新华锦 (600735) and 汇绿生态 (001267) are among those with recent alerts on 2025-10-29[1] - The report includes links to detailed announcements for each company, providing transparency and further information for investors[1] Market Trends - The report highlights a trend of increased scrutiny on companies with abnormal stock price movements, suggesting a potential shift in regulatory focus[1] - Investors are advised to monitor these stocks closely due to the heightened risk associated with abnormal fluctuations[1]

Core Points - The company guarantees the authenticity, accuracy, and completeness of the quarterly report, with no false records or misleading statements [2][7][10] Financial Data - The third-quarter financial report has not been audited [3][6] - The company does not require retrospective adjustments or restatements of previous accounting data [3] - There are no non-recurring profit and loss items applicable for the quarter [3] Shareholder Information - As of September 30, 2025, the controlling shareholder, Li Renchao, holds 137,063,713 shares, with 107,000,000 shares pledged and 137,063,713 shares frozen [5] Board Meeting - The sixth board meeting was held on October 28, 2025, with all nine directors present, and the meeting complied with relevant laws and regulations [6][7] - The board approved the third-quarter report, confirming its compliance with legal requirements [7][8] - The board also approved the appointment of a chief compliance officer [8]