Core Insights - The average stock price in the A-share market is 13.96 yuan, with 21 stocks priced below 2 yuan, the lowest being *ST Yuan Cheng at 0.58 yuan [1][1][1] Low-Priced Stocks Overview - Among the low-priced stocks, 9 are ST stocks, accounting for 42.86% of those priced below 2 yuan [1][1] - The stocks with the highest daily gains include Yabo Co., ST Zhongzhu, and Chongqing Steel, with increases of 4.81%, 2.06%, and 1.91% respectively [1][1] - The stocks with the largest declines are *ST Suwu, Yongtai Energy, and HNA Holding, with decreases of 1.02%, 0.61%, and 0.54% respectively [1][1] Low-Priced Stocks Ranking - The table lists various low-priced stocks along with their latest closing prices, daily change percentages, turnover rates, price-to-book ratios, and industries, highlighting the performance of these stocks in the market [1][1][1]

Group 1 - The company, ST Lingnan, has no current plans or developments related to the power sector [2]

1、持股 5%以上股东尹洪卫先生所持公司合计 106,500,000 股股份（占公司总股 本 5.85%）已于 2025 年 10 月及 11 月被分批司法拍卖/变卖成功，其中 20,000,000 股 （占公司总股本 1.10%）于 2025 年 11 月 7 日完成过户。本次股份拍卖过户前，尹洪 卫先生持有公司 207,791,617 股股份，占公司总股本 11.42%。本次股份拍卖过户后， 尹洪卫先生持有的公司 187,791,617 股股份，占公司总股本的 10.32%，权益变动触及 1%的整数倍。 2、根据《尹洪卫与中山华盈产业投资合伙企业（有限合伙）关于岭南生态文旅 股份有限公司之股份表决权委托协议》（简称"《股份表决权委托协议》"），本 次股份拍卖前，公司控股股东中山华盈产业投资合伙企业（有限合伙）（以下简称 "华盈产投"）及其一致行动人中山火炬华盈投资有限公司（以下简称"华盈投资"） 拥有公司 310,082,192 股股份表决权，占公司总股本 17.04%。2025 年 11 月 7 日，上 述 20,000,000 股股份拍卖过户后，华盈产投及其一致行动人拥有公司 290,082,192 ...

Group 1 - The stock price of ST Lingnan (002717) closed at 1.84 yuan on November 7, 2025, with an increase of 0.55% and a turnover rate of 4.76% [1] - On November 7, the net inflow of main funds was 7.223 million yuan, indicating increased short-term interest from major investors [2][3] - The company announced that due to insufficient monetary funds, the "Lingnan Convertible Bonds" could not be redeemed on time, leading to a downgrade of its credit rating to level C, indicating severe debt repayment risks [2][3] Group 2 - The company reported a significant decline in operating revenue for 2024, with continued net losses and a qualified audit report [2] - For the first three quarters of 2025, revenue continued to decline, although net losses narrowed [2] - The company faces ongoing operational risks, uncertainty in asset realization, potential delisting due to stock price falling below 1 yuan, and multiple lawsuits with substantial cumulative amounts [2]

Core Viewpoint - The company ST Lingnan announced that its "Lingnan Convertible Bond" cannot be redeemed on time, leading to a downgrade of its credit rating to C, which may impact its financing and performance, potentially resulting in delisting [1] Financial Performance - In 2024, the company's revenue is projected to be 862 million, a year-on-year decline of 59.55%, with a net loss of 984 million, a decrease in loss scale by 9.86% compared to the previous year [1] - For the first nine months of 2025, revenue is expected to be 253 million, reflecting a year-on-year drop of 68.75%, with a net loss of 206 million, narrowing the loss by 23.34% [1] Risks and Challenges - The company faces uncertainty regarding the monetization of pledged assets under its credit enhancement plan, along with risks of stock delisting and litigation [1] - Recently, the company has been prosecuted for alleged collusion in bidding [1]

证券代码：002717.SZ 证券简称：ST 岭南 债券代码：128044.SZ 转债简称：岭南转债 岭南生态文旅股份有限公司 向不特定对象发行可转换公司债券 2025 年度第三十七次临时受托管理事务报告 债券受托管理人 二〇二五年十一月 重要声明 据公司《关于"岭南转债"不能按期兑付本息的公告》（公告编号：2024- 113）披露，公司现有货币资金无法偿付"岭南转债"，"岭南转债"无法按期 进行本息兑付。 据公司《关于公司主体及相关债券信用等级的公告》（公告编号：2024- 119），信用评级机构联合资信评估股份有限公司下调公司主体长期信用等级为 C，下调"岭南转债"的信用等级为 C。 "岭南转债"逾期事项可能会影响其他债权人对公司的信心，从而进一步 减弱公司融资能力，加剧公司资金紧张局面。如公司无法妥善解决，公司会因 逾期债务面临进一步的诉讼、仲裁、银行账户被冻结、资产被冻结等事项，也 可能需支付相关违约金、滞纳金和罚息，将会影响公司的生产经营和业务开展， 增加公司的财务费用，同时进一步加大公司资金压力，并对公司本年度业绩产 生影响。 此外，公司债务逾期事项可能导致公司退市。如无法妥善解决，将影响公 司在 ...

Corporate Governance - China Aluminum announced the election of He Wenjian as chairman and the appointment of Zhang Ruizhong as general manager, effective immediately [3] - Jiang Guiting, the actual controller and chairman of Jingjin Equipment, has had his detention lifted, allowing him to resume his duties [8] - Biao Bang Co. has terminated its plans for a change in control, with stock resuming trading [7] Industry Developments - Jiangbolong reported that its self-developed main control chip deployment has exceeded 100 million units, with rapid growth expected [4] - Asia Pacific Pharmaceutical received a notice of disapproval for its consistency evaluation application for a drug, which will not significantly impact its current performance [5] - Fuxiang Pharmaceutical successfully passed a cGMP inspection by the FDA, marking its third successful inspection [6] - Huahai Pharmaceutical's subsidiary passed an FDA inspection, enhancing its international market capabilities [13] Financial Performance - Daqin Railway reported a cargo transport volume of 32.51 million tons in October 2025, a year-on-year decrease of 4.7% [18] - Jingji Zhino achieved sales revenue of 317 million yuan from selling 233,300 pigs in October 2025 [19] - Baiyun Airport reported a passenger throughput of 7.64 million in October 2025, a year-on-year increase of 12.04% [20] - Dongfeng Motor's total vehicle production in October 2025 was 6,536 units, a year-on-year decrease of 23.40% [21] - Hongyang Real Estate reported a contract sales amount of 202 million yuan in October 2025 [22] Shareholder Actions - Xintonglian announced that a shareholder plans to reduce its stake by up to 3% [24] - Tonghua Dongbao conducted its first share buyback, acquiring 143,500 shares for 1.29 million yuan [25] - Guoci Materials plans to repurchase shares worth 100 million to 200 million yuan at a price not exceeding 30 yuan per share [26] Project Wins - Dayu Water-saving announced a pre-bid win for a 310 million yuan water conservancy project in Hainan [28] - Zhongjian Technology signed a significant sales contract worth 563 million yuan [29] - Longjian Co. won a project bid worth 441 million yuan for road construction in Heilongjiang [30] - Chongqing Construction's subsidiary won a project bid worth 781 million yuan for a residential project in Chongqing [31]

Group 1 - The company, Lingnan Ecological Culture Tourism Co., Ltd. (ST Lingnan), has been indicted for collusion in bidding and is scheduled for a court hearing on October 31, 2025 [1][4] - As of now, the incident has not significantly impacted the company's operations, but the potential effects on its financial performance remain to be determined pending the court's judgment [4] - The company has faced financial difficulties, reporting net losses of 1.554 billion yuan in 2022, 1.092 billion yuan in 2023, and 984 million yuan in 2024 [4] Group 2 - In the first three quarters of 2025, the company achieved revenue of 253 million yuan, a year-on-year decrease of 68.75%, while the net profit attributable to shareholders was -206 million yuan, an increase of 23.34% year-on-year [4] - The company has been listed as a dishonest executor due to construction contract disputes, which has affected its ability to secure new orders and collect payments [4] - As of November 4, the company's stock price closed at 1.93 yuan per share, down 3.02%, with a total market capitalization of 3.513 billion yuan, reflecting a year-to-date decline of 40.25% [5]

Core Viewpoint - ST Lingnan is facing significant challenges due to legal issues and declining financial performance, which raises concerns about its future stability and growth potential [1][2][3] Group 1: Legal Issues - The company has been prosecuted for collusion in bidding, which poses a serious threat to its reputation and future business operations [1] - Shareholder Yin Hongwei's 20 million shares are being judicially sold, leading to uncertainties in the company's ownership structure and potential impacts on strategic decisions [1] Group 2: Financial Performance - For the first three quarters of 2025, ST Lingnan reported a 68.75% year-on-year decline in revenue and a net loss of 206 million yuan [2] - The company is burdened with litigation and arbitration claims amounting to 131 million yuan, which adds to its financial strain [2] Group 3: Strategic Response - The company needs to actively cooperate with judicial investigations and strengthen internal governance to prevent similar issues in the future [2] - A practical recovery plan is essential to improve operational efficiency and financial health, focusing on business expansion, cost control, and asset optimization [2] - Enhanced communication with investors is crucial to maintain transparency and stabilize market expectations [2]

Core Viewpoint - ST Lingnan is facing significant challenges due to legal issues and declining financial performance, which raises concerns about its future stability and investor confidence [1][2][3] Group 1: Legal Issues - The company has been prosecuted for collusion in bidding, which poses a serious threat to its reputation and future business operations [1] - Shareholder Yin Hongwei's 20 million shares are being judicially sold, leading to uncertainties in the company's ownership structure and potential impacts on strategic decisions [1] Group 2: Financial Performance - For the first three quarters of 2025, ST Lingnan reported a 68.75% year-on-year decline in revenue and a net loss of 206 million yuan [2] - The company is burdened with litigation and arbitration claims amounting to 131 million yuan, which adds to its financial strain [2] Group 3: Strategic Response - The company needs to actively respond to legal challenges and cooperate with judicial investigations to achieve favorable outcomes [2] - Strengthening internal governance and control mechanisms is essential to prevent similar issues in the future [2] - A practical recovery plan focusing on improving operational efficiency, financial health, and investor communication is crucial for stabilizing market expectations [2]