证券代码：002678 证券简称：珠江钢琴 公告编号：2025-051 广州珠江钢琴集团股份有限公司 股票交易异常波动的公告 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、股票交易异常波动情况 广州珠江钢琴集团股份有限公司（以下简称"公司"、证券简称：珠江钢琴、 证券代码：002678）股票连续三个交易日（2025 年 10 月 27 日、2025 年 10 月 28 日、2025 年 10 月 29 日）收盘价格跌幅偏离值累计超过 20%。根据深圳证券 交易所相关规定，属于股票交易异常波动情形。 二、公司关注并核实相关情况 针对公司股票异常波动，公司对有关事项进行了核查，有关情况说明如下： （一）公司前期披露的信息不存在需要更正、补充之处； （三）公司郑重提醒广大投资者：《中国证券报》、《证券时报》、《证券 日报》和巨潮资讯网（www.cninfo.com.cn）为公司选定的信息披露媒体，公司所 有信息均以在上述指定媒体刊登的信息为准。本公司将严格按照有关法律法规的 规定和要求，认真履行信息披露义务，及时做好信息披露工作。敬请广大投资者 注意投资风险， ...

Core Viewpoint - The stock of Pearl River Piano has experienced a significant abnormal fluctuation, with a cumulative decline of over 20% in closing prices over three consecutive trading days [1] Summary by Relevant Sections - **Stock Performance** The company's stock has seen a cumulative decline of over 20% in closing prices over three consecutive trading days, indicating abnormal trading activity [1] - **Company Disclosure** The company has confirmed that there are no corrections or supplements needed for previously disclosed information. Additionally, there have been no significant changes in the company's operational situation or external business environment recently [1] - **Material Events** The company, its controlling shareholders, and actual controllers have stated that there are no undisclosed significant matters related to the company, nor are there any major matters in the planning stage that require disclosure [1]

Core Points - The entertainment products sector experienced a decline of 0.75% compared to the previous trading day, with Pearl River Piano leading the drop [1] - The Shanghai Composite Index closed at 4016.33, up by 0.7%, while the Shenzhen Component Index closed at 13691.38, up by 1.95% [1] Fund Flow Analysis - The entertainment products sector saw a net outflow of 29.3181 million yuan from main funds, while speculative funds had a net inflow of 57.2681 million yuan, and retail investors experienced a net outflow of 27.95 million yuan [2]

Core Points - Zhujiang Piano experienced a trading halt today, with a total turnover rate of 5.77% and a transaction volume of 440 million yuan, showing a fluctuation of 9.96% [2] - The stock was listed on the Shenzhen Stock Exchange's watch list due to a daily decline deviation of -9.77%, with a net selling amount of 27.68 million yuan from brokerage seats [2] - The top five brokerage seats accounted for a total transaction of 101 million yuan, with a buying amount of 36.54 million yuan and a selling amount of 64.23 million yuan, resulting in a net selling of 27.68 million yuan [2] Trading Activity - In the trading activity today, the largest buying brokerage was Dongfang Caifu Securities with a purchase amount of 6.55 million yuan, while the largest selling brokerage was Huaxin Securities with a selling amount of 9.80 million yuan [2][3] - Over the past six months, Zhujiang Piano has appeared on the watch list eight times, with an average price drop of 3.32% the day after being listed and an average drop of 12.26% in the following five days [3] - The stock saw a net outflow of 22.01 million yuan in main funds today, with a net inflow of 2.91 million yuan from large orders and a net outflow of 24.92 million yuan from major funds [3] Detailed Brokerage Transactions - The top five buying brokerages and their respective buying and selling amounts are as follows: - Dongfang Caifu Securities (Lhasa Tuanjie Road): Buying 6.55 million yuan, Selling 4.05 million yuan - Dongfang Caifu Securities (Lhasa Financial City): Buying 5.84 million yuan, Selling 5.18 million yuan - Dongfang Caifu Securities (Lhasa East Ring Road): Buying 5.29 million yuan, Selling 3.28 million yuan - Guoxin Securities (Zhejiang Internet Branch): Buying 4.89 million yuan, Selling 3.42 million yuan - Dongfang Caifu Securities (Changdu Liangjiang Avenue): Buying 4.73 million yuan, Selling 4.31 million yuan [3]

Market Overview - The entertainment products sector declined by 0.61% on the previous trading day, with Zhujiang Piano leading the decline [1] - The Shanghai Composite Index closed at 3988.22, down 0.22%, while the Shenzhen Component Index closed at 13430.1, down 0.44% [1] Stock Performance - Notable gainers in the entertainment products sector included: - Helen Piano (300329) with a closing price of 16.52, up 5.22% on a trading volume of 142,400 shares and a turnover of 233 million yuan [1] - Qunxing Toys (002575) closed at 6.28, up 3.63% with a trading volume of 562,400 shares and a turnover of 352 million yuan [1] - Zhujiang Piano (002678) was the biggest loser, closing at 5.52, down 9.95% with a trading volume of 783,000 shares and a turnover of 440 million yuan [2] Capital Flow - The entertainment products sector experienced a net outflow of 117 million yuan from institutional investors, while retail investors saw a net inflow of 90.5 million yuan [2] - The sector's capital flow indicated that: - Qunxing Toys had a net inflow of 30.2 million yuan from institutional investors, but a net outflow of 42.9 million yuan from retail investors [3] - Huali Technology (301011) saw a net inflow of 10.6 million yuan from institutional investors, but also experienced outflows from both retail and speculative investors [3]

Core Viewpoint - Zhujiang Piano experienced a significant drop in stock price, reaching the daily limit down, with a trading volume of 7.45 billion yuan and a turnover rate of 8.67% [2] Trading Performance - The stock's price fell by 11.26%, leading to its inclusion on the daily limit list, with net selling from the Shenzhen Stock Connect amounting to 15.12 million yuan [2] - The stock has been on the trading list for a total of 7 times in the past six months, with an average price drop of 2.21% the day after being listed and an average decline of 9.51% over the following five days [3] Capital Flow - Today's net outflow of main funds was 15.08 million yuan, with a significant outflow of 45.84 million yuan from large orders, while smaller orders saw a net inflow of 30.75 million yuan [3] - Over the past five days, the main funds have seen a net inflow of 94.56 million yuan [3] Trading Details - The top five buying and selling trading departments accounted for a total transaction amount of 170 million yuan, with buying totaling 63.14 million yuan and selling totaling 107 million yuan, resulting in a net selling of 43.83 million yuan [2] - Specific trading details show that the largest buying department was Huaxin Securities, while the largest selling department was Shenwan Hongyuan Securities, with significant net selling from the Shenzhen Stock Connect [3]

Group 1 - The horse racing concept sector declined by 1.06%, ranking among the top losers in the market, with major declines seen in companies like Zhujiang Piano and Zhongti Industry [1][2] - Among the horse racing concept stocks, Zhujiang Piano hit the daily limit down, while Zhongti Industry and Xinhua Dou also experienced significant declines [1][2] - Conversely, a few stocks in the sector saw gains, with *ST Zhengping, Zhongmu Co., and Hainan Rubber increasing by 5.03%, 0.41%, and 0.37% respectively [1][2] Group 2 - The horse racing concept sector experienced a net outflow of 0.38 billion yuan in capital today, with Xinhua Dou leading the outflow at 17.30 million yuan [2] - Other companies with significant capital outflows included Zhujiang Piano, Luoniushan, and Zhongti Industry, with outflows of 15.08 million yuan, 13.01 million yuan, and 12.06 million yuan respectively [2] - In contrast, Hainan Rubber, *ST Zhengping, and Zhongmu Co. saw net inflows of 14.36 million yuan, 4.76 million yuan, and 0.38 million yuan respectively [2]

Group 1 - The company's stock price experienced an abnormal fluctuation, with a cumulative increase of over 20% on October 22 and 23, 2025 [1] - The company conducted an internal review and found no need for corrections or supplements to previously disclosed information [2] - There were no significant changes in the company's operational situation or external business environment recently [2][4] Group 2 - The company confirmed that there were no undisclosed significant matters related to the company that should have been disclosed according to the Shenzhen Stock Exchange regulations [4] - During the period of stock price fluctuation, the controlling shareholder and actual controller did not engage in buying or selling the company's stock [3] - The company will release its Q3 2025 report on October 25, 2025, detailing its operational and financial performance [5]

Group 1: Longjiang Power - The controlling shareholder, China Three Gorges Group, plans to increase its stake in Longjiang Power by investing between 40 billion and 80 billion yuan over the next 12 months [1] - As of October 23, China Three Gorges Group has already acquired 9,070,380 shares, representing 0.37% of the total share capital, with a total investment of 2.531 billion yuan [1] - Recently, China Three Gorges Group received a loan commitment from Agricultural Bank for up to 7.2 billion yuan specifically for purchasing Longjiang Power shares [1] Group 2: Yiwei Lithium Energy - Shareholders Liu Jincheng, Luo Jinhong, and Yiwei Holdings plan to transfer up to 40,776,800 shares, accounting for 2% of the total share capital, through an inquiry-based method [2] - The reason for the transfer is to repay loans and meet business development needs [2] - The minimum transfer price is set at 70% of the average stock price over the previous 20 trading days prior to sending the subscription invitation [2] Group 3: Dongfang Fortune - Dongfang Fortune reported a total revenue of 4.733 billion yuan in Q3, a year-on-year increase of 100.65% [3] - The net profit for Q3 reached 3.53 billion yuan, up 77.74% year-on-year [3] - For the first three quarters, total revenue was 11.589 billion yuan, a 58.67% increase, with net profit at 9.097 billion yuan, reflecting a 50.57% growth [3] Group 4: Chifeng Gold - Chifeng Gold's Q3 revenue was 3.372 billion yuan, a 66.39% increase year-on-year, with a net profit of 951 million yuan, up 140.98% [4] - For the first three quarters, revenue totaled 8.644 billion yuan, a 38.91% increase, and net profit reached 2.058 billion yuan, reflecting an 86.21% growth [4] - The significant profit increase is attributed to improved production organization and management, alongside a substantial rise in gold prices [4] Group 5: San Chuan Wisdom - San Chuan Wisdom reported a revenue of 828 million yuan for the first three quarters, a decrease of 25.53%, but net profit was 144 million yuan, up 101.23% [5] - In Q3, revenue was 338 million yuan, down 9.87%, while net profit reached 99.896 million yuan, a 268.99% increase [5] - The rise in net profit is linked to the increase in rare earth oxide market prices, which led to the reversal of some inventory impairment losses [5] Group 6: GreenMei - GreenMei signed a strategic cooperation framework agreement with Xiamen Tungsten New Energy to address global market demands for ultra-high energy density battery materials [6] - From 2026 to 2028, GreenMei expects to supply 150,000 tons of various battery raw materials and products annually to Xiamen Tungsten, totaling 450,000 tons over three years [6] - The partnership aims to establish a long-term supply chain for lithium battery materials across various sectors, including consumer electronics and robotics [6] Group 7: Zhujiang Piano - Zhujiang Piano reported a Q3 revenue of 145 million yuan, down 10.70%, with a net loss of 80.4659 million yuan [7] - For the first three quarters, revenue was 386 million yuan, a decrease of 26.72%, with a net loss of 218 million yuan [7] - The decline in performance is attributed to a sluggish consumer environment in the musical instrument market and rising production costs [7] Group 8: Luoyang Molybdenum - Luoyang Molybdenum's Q3 revenue was 50.713 billion yuan, a decrease of 2.36%, while net profit increased by 96.40% to 5.608 billion yuan [9] - For the first three quarters, total revenue was 145.485 billion yuan, down 5.99%, with net profit rising by 72.61% to 14.280 billion yuan [9] - The profit increase is primarily due to higher product prices and increased copper product sales [9] Group 9: Gongjin Shares - Gongjin Shares announced that its major shareholder is planning a share transfer that may lead to a change in company control, resulting in a temporary stock suspension [10] - The stock will be suspended from trading starting October 27, 2025, for no more than two trading days [10] - The company will fulfill its information disclosure obligations during the suspension period [10] Group 10: Wanhua Chemical - Wanhua Chemical reported a revenue of 144.226 billion yuan for the first three quarters, down 2.29%, with a net profit of 9.157 billion yuan, a decrease of 17.45% [11] - The decline in profit is attributed to lower sales prices of major products, which led to a narrowing of overall gross margins [11] - Despite the challenges, the company continues to expand its market presence and applications [11] Group 11: Fangzheng Technology - Fangzheng Technology reported a Q3 revenue of 1.258 billion yuan, a year-on-year increase of 44.34%, with a net profit of 144 million yuan, up 139.04% [12] - For the first three quarters, total revenue was 3.398 billion yuan, reflecting a 38.71% increase, and net profit reached 317 million yuan, up 50.81% [12] - The growth is primarily driven by increased sales volume in the PCB business and ongoing product structure optimization [12]

Core Viewpoint - The company reported a significant decline in revenue and incurred substantial losses in the first three quarters of 2025 [1] Financial Performance - The company achieved an operating revenue of 386 million yuan, representing a year-on-year decrease of 26.72% [1] - The net loss attributable to shareholders of the listed company was 218 million yuan [1] - The net loss attributable to shareholders, excluding non-recurring gains and losses, was 220 million yuan [1]