Market Overview - The Shanghai Composite Index closed at 3781.61 points, below the five-day moving average, with a decline of 1.23% [1] - The total trading volume of A-shares reached 171.35 billion yuan [1] Stocks Performance - A total of 119 A-shares broke through the five-day moving average today [1] - Notable stocks with significant deviation rates include: - Chuangyuan Xinke (创远信科) with a deviation rate of 11.34% and a daily increase of 20.09% [1] - Teruid (特锐德) with a deviation rate of 10.64% and a daily increase of 13.85% [1] - Niutai Ge (纽泰格) with a deviation rate of 7.97% and a daily increase of 9.93% [1] Additional Stocks with Minor Deviations - Stocks with smaller deviation rates that just crossed the five-day moving average include: - Xinghua New Materials (星华新材) and Haixing Power (海兴电力) [1] - Other stocks with notable performance include: - Ningbo Haiyun (宁波海运) with a daily increase of 9.95% and a deviation rate of 7.96% [1] - Xusheng Group (旭升集团) with a daily increase of 10.03% and a deviation rate of 7.83% [1]

Core Viewpoint - The A-share market shows a mixed performance with the Shanghai Composite Index at 3788.76 points, down by 1.04%, while the total trading volume reached 1.262 trillion yuan, indicating a fluctuating market environment [1] Group 1: Market Performance - As of 10:29 AM today, the Shanghai Composite Index is at 3788.76 points, with a decline of 1.04% [1] - The total trading volume in the A-share market is 1.262 trillion yuan [1] Group 2: Stocks Breaking the Annual Line - Eight A-shares have surpassed the annual line today, with notable stocks including Jinfu Technology, Nanjing Bank, and Kexin Technology, showing significant deviation rates of 8.78%, 2.89%, and 2.50% respectively [1] - Stocks with smaller deviation rates that have just crossed the annual line include Industrial Bank, Bank of China, and Shaanxi Coal, indicating a more cautious market sentiment [1] Group 3: Individual Stock Performance - Jinfu Technology (300128) has the highest daily increase of 9.31% and a deviation rate of 8.78%, with a latest price of 5.87 yuan [1] - Nanjing Bank (601009) and Kexin Technology (300565) also performed well, with daily increases of 4.49% and 7.08%, and deviation rates of 2.89% and 2.50% respectively [1] - Other stocks like Tiancheng Automation (603085) and Qilu Bank (601665) showed daily increases of 3.48% and 2.66%, with deviation rates of 1.56% and 1.51% respectively [1]

截至2025年9月12日收盘，锦富技术(300128)报收于5.3元，下跌0.75%，换手率2.03%，成交量26.37万 手，成交额1.4亿元。 当日关注点 交易信息汇总 资金流向 公司公告汇总 国泰海通证券股份有限公司对苏州锦富技术股份有限公司2025年上半年持续督导工作情况进行报告。保 荐代表人及时审阅信息披露文件，督导公司健全并有效执行各项规章制度，募集资金使用与信息披露一 致。现场检查1次，发表专项意见3次，开展培训2次。关注事项包括募投项目"石墨烯散热膜项目"延期 至2027年5月，以及公司于2025年6月27日收到证监会行政处罚，因2021年金属品贸易业务虚增收入，导 致定期报告虚假记载，公司被警告并罚款四百万元，相关责任人被处罚。公司已完成差错更正并缴纳罚 款。保荐机构将持续督促公司规范运作、加强财务管理。报告期内无其他重大问题。 国泰海通证券股份有限公司于2025年9月2日对苏州锦富技术股份有限公司2025年半年度持续督导工作进 行现场检查。检查涵盖公司治理、内部控制、信息披露、募集资金使用、业绩情况、承诺履行及其他重 要事项。检查结果显示，公司在各项制度建设与执行、信息披露、关联交易、对外 ...

Core Viewpoint - The company Suzhou Jinfeng Technology Co., Ltd. has faced regulatory scrutiny due to past financial discrepancies, specifically a penalty for inflating revenue in 2021, while also reporting on its ongoing governance and financial practices [2][3][4]. Group 1: Trading Information - On September 11, 2025, the stock price of Jinfeng Technology closed at 5.34 yuan, up by 1.14%, with a turnover rate of 2.34%, a trading volume of 304,300 shares, and a transaction amount of 161 million yuan [1]. - On the same day, the net outflow of main funds was 8.45 million yuan, while retail investors saw a net inflow of 12.25 million yuan [2][4]. Group 2: Company Announcements - Guotai Junan Securities Co., Ltd. reported on the continuous supervision of Jinfeng Technology for the first half of 2025, noting that the company has adhered to regulations regarding governance, internal controls, and fundraising usage [2][3]. - The company has faced a delay in its graphene heat dissipation film project, now expected to be completed by May 2027 [2]. - On June 27, 2025, the company received an administrative penalty from the China Securities Regulatory Commission for inflating revenue in 2021, resulting in a warning and a fine of 4 million yuan, with corrections made to the financial data [2][3][4].

| 序和信息披露义务 | | | --- | --- | | 8.公司人员、资产、财务、机构、业务等方面是否独立 | √ | | 9.公司与控股股东及实际控制人是否不存在同业竞争 | √ | | （二）内部控制 | | | 现场检查手段：查阅了上市公司最新章程以及关于股东会议事规则、董事会议事规则、 | | | 关联交易决策制度、内部审计制度、信息披露事务管理制度等相关制度，取得公司内部 | | | 审计部门和审计委员会的工作计划或工作报告，对高级管理人员进行访谈。 | | | 1.是否按照相关规定建立内部审计制度并设立内部审计部门（如 | √ | | 适用） | | | 2.是否在股票上市后六个月内建立内部审计制度并设立内部审计 √ | | | 部门（如适用） | | | 3.内部审计部门和审计委员会的人员构成是否合规（如适用） | √ | | 4.审计委员会是否至少每季度召开一次会议，审议内部审计部门 | √ | | 提交的工作计划和报告等（如适用） | | | 5.审计委员会是否至少每季度向董事会报告一次内部审计工作进 | √ | | 度、质量及发现的重大问题等（如适用） | | | 6.内部审计部门是 ...

国泰海通证券股份有限公司 关于苏州锦富技术股份有限公司 2025 年半年度持续督导跟踪报告 | 保荐人名称：国泰海通证券股份有限公司 | 被保荐公司简称：锦富技术 | | --- | --- | | 保荐代表人姓名：邓伟 | 联系电话：021-23185902 | | 保荐代表人姓名：金翔 | 联系电话：021-23180000 | 一、保荐工作概述 | 项目 | 工作内容 | | --- | --- | | 1.公司信息披露审阅情况 | | | （1）是否及时审阅公司信息披露文件 | 是 | | （2）未及时审阅公司信息披露文件的次数 | 无 | | 2.督导公司建立健全并有效执行规章制度的 | | | 情况 | | | （1）是否督导公司建立健全规章制度（包括 | | | 但不限于防止关联方占用公司资源的制度、 | 是 | | 募集资金管理制度、内控制度、内部审计制度、 | | | 关联交易制度） | | | （2）公司是否有效执行相关规章制度 | 是 | | 3.募集资金监督情况 | | | （1）查询公司募集资金专户次数 | 保荐代表人每月查询公司募集资金专户资金 | | | 变动情况和大额资金支取使 ...

Market Overview - On September 2, the Jiangsu state-owned enterprise reform sector fell by 0.85% compared to the previous trading day, with Lianhuan Pharmaceutical leading the decline [1] - The Shanghai Composite Index closed at 3858.13, down 0.45%, while the Shenzhen Component Index closed at 12553.84, down 2.14% [1] Stock Performance - Notable gainers in the Jiangsu state-owned enterprise reform sector included: - Huami Environmental Energy (600475) with a closing price of 23.86, up 10.00% [1] - Zhongsheng High-Tech (002778) with a closing price of 20.94, up 5.23% [1] - Nanjing Port (002040) with a closing price of 10.03, up 3.62% [1] - Major decliners included: - Lianhuan Pharmaceutical (600513) with a closing price of 21.96, down 6.63% [2] - Tongxingbao (301339) with a closing price of 16.73, down 4.35% [2] - Nanjing Chemical Fiber (600889) with a closing price of 15.16, down 4.29% [2] Capital Flow - The Jiangsu state-owned enterprise reform sector experienced a net outflow of 720 million yuan from institutional investors, while retail investors saw a net inflow of 409 million yuan [2][3] - The capital flow for specific stocks showed: - Huami Environmental Energy (600475) had a net inflow of 1.421 billion yuan from institutional investors [3] - Jiangsu Jinzhu (002091) had a net inflow of 12.13 million yuan from institutional investors [3] - Nanjing Travel (600250) had a net inflow of 10.72 million yuan from institutional investors [3]

Group 1 - The core viewpoint of the article highlights that Jinfu Technology (300128) reported a mixed financial performance for the first half of 2025, with a revenue increase but continued net losses [1] - The total operating revenue for the first half of 2025 reached 973 million yuan, representing a year-on-year increase of 20.83% [1] - The net profit attributable to the parent company was -115 million yuan, showing a slight year-on-year improvement of 0.36% [1] Group 2 - In Q2 2025, the operating revenue was 522 million yuan, up 24.83% year-on-year, while the net profit attributable to the parent company was -65.09 million yuan, down 14.7% year-on-year [1] - The company's accounts receivable accounted for 40.84% of the total operating revenue, indicating a significant amount of outstanding payments [1] - The gross margin was reported at 7.08%, a decrease of 30.35% year-on-year, while the net margin improved to -13.13%, an increase of 25.32% year-on-year [1] Group 3 - Total expenses for sales, management, and finance amounted to 152 million yuan, which is 15.58% of revenue, down 36.08% year-on-year [1] - The company's cash flow per share was -0.23 yuan, a decrease of 59.11% year-on-year, indicating worsening cash flow conditions [1] - The company has a historical median ROIC of -2.64% over the past decade, reflecting poor investment returns [1]

Financial Performance - The company reported a revenue of 972.97 million yuan for the current period, representing a 20.83% increase compared to 805.27 million yuan in the same period last year [4] - The net profit attributable to shareholders was -114.88 million yuan, a slight improvement of 0.36% from -115.30 million yuan year-on-year [4] - The net profit after deducting non-recurring gains and losses was -112.30 million yuan, showing a reduction in losses of 5.82% compared to -119.24 million yuan last year [4] - The net cash flow from operating activities was -293.04 million yuan, a decline of 59.11% from -184.18 million yuan in the previous year [4] - Basic and diluted earnings per share were both -0.0902 yuan, a decrease of 1.12% from -0.0892 yuan [4] - The weighted average return on equity was -15.76%, down from -10.66% year-on-year [4] Business Development - The company experienced significant growth in its main business revenue, but faced a decline in overall gross margin by 3.09 percentage points due to intensified industry competition and uncertainties from the US-China tariff war [2] - Despite the challenges, the company managed to reduce overall expenses by 22.47% through refined management and cost control measures, leading to a slight improvement in operating performance compared to the previous year [2] - In the liquid crystal display module and complete machine business, the company strengthened partnerships with key clients like Hikvision and Focus Media, while successfully expanding into the mid-to-high-end commercial display sector [2] - The PC monitor business achieved revenue of 131 million yuan, nearing the total revenue for the previous year, by introducing new high-end products tailored to market demands [2] Market Expansion - Suzhou Yingshuo's graphene seat heating products saw a revenue increase of 61.45% year-on-year, with new projects and partnerships established with major domestic automotive manufacturers [3] - The company successfully passed supplier audits from well-known automotive seat manufacturers, enhancing its product quality and management system recognition within the industry [3] - Continuous innovation in core graphene materials and thermal management solutions has improved product performance and optimized costs, laying a solid foundation for future market expansion [3]

Group 1 - The company Jinfu Technology (SZ 300128) held a temporary meeting of the sixth board of directors on August 26, 2025, to review the 2025 semi-annual report and its summary [1] - For the year 2024, Jinfu Technology's revenue composition is as follows: Consumer electronics accounted for 50.94%, New energy for 30.0%, Power engineering for 12.0%, Other industries for 3.72%, and Chemical materials for 3.34% [1] Group 2 - The pet industry is experiencing significant growth, with a market size of 300 billion yuan, leading to a surge in stock prices for related companies [1]