Group 1 - The core viewpoint of the articles is that the "delisting" of stocks, which refers to the removal of ST or *ST labels from a company's stock, indicates a significant improvement in the company's financial health and operational performance [1][2] - Companies must meet specific financial and operational criteria, such as positive net profit, positive net assets, and revenue above a certain threshold, to apply for the removal of ST or *ST labels [1] - The removal of these labels often leads to a positive impact on the company's profitability, as it signifies that the company has stabilized its financial situation and resolved previous financial issues [1] Group 2 - The delisting process positively affects the market image of the company, as being labeled can severely damage its reputation and investor confidence [2] - The removal of the label helps to restore investor confidence and allows for a reevaluation of the company's value, attracting more capital inflow [2] - A list of companies that have recently undergone delisting includes: - Huijin Technology (300368): Focuses on intelligent manufacturing and information system integration [2] - Jiuzhitang: Engages in traditional Chinese medicine research and production [2] - Jintime Technology (002951): Specializes in energy storage equipment manufacturing [3] - Zhongjiabochuang: Involved in information transmission and communication network maintenance [3] - Yongyue Technology (603879): Develops and sells intelligent robots [3] - Xianfeng New Materials (300163): Produces high polymer composite shading materials [3] - Dongfang Ocean (002086): Engages in aquaculture and biotechnology [3] - Shengda Forestry (002259): Involved in natural gas liquefaction and related operations [3]

证券代码：300163 证券简称：先锋新材 公告编号：2025-044 宁波先锋新材料股份有限公司 关于公司变更为无控股股东、无实际控制人的提示性公告 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。 特别风险提示： 1、2025年5月29日，公司原控股股东、实际控制人卢先锋先生被司法拍卖的2250万股 股份完成过户登记，卢先锋及一致行动人的持股比例由8.39%被动减少至3.65%，卢先锋丧 失控股股东、实际控制人地位，公司控股股东、实际控制人由卢先锋变更为无控股股东、 无实际控制人。郎海涛先生持有公司27,061,823股，占公司总股本的5.71%，被动成为公司 第一大股东。 2、卢先锋先生于2025年4月11日被司法拍卖的1000万股股份尚未完成过户登记，若该笔 股份也完成过户登记，卢先锋及一致行动人的持股比例将进一步下降至1.53%。 3、公司处于无控股股东、无实际控制人状态不会对公司日常经营活动产生不利影响， 不会影响公司正常的生产经营活动。截至本公告披露日，公司经营正常，管理团队稳定， 公司具有规范的法人治理结构及独立经营的能力。 宁波先锋新材料股份有 ...

宁波先锋新材料股份有限公司 关于原控股股东部分司法拍卖股份过户登记完成 暨控制权变更的公告 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。 特别风险提示： 本次司法拍卖股份过户登记完成后，卢先锋及一致行动人的持股比例由8.39%变更为 3.65%，卢先锋丧失控股股东、实际控制人地位，公司控股股东、实际控制人由卢先锋变更 为无控股股东、无实际控制人。 证券代码：300163 证券简称：先锋新材 公告编号：2025-045 宁波先锋新材料股份有限公司（以下简称"先锋新材"或"公司"）近日收 到公司原控股股东、实际控制人卢先锋司法拍卖股份的竞买人励柯磊发送的《浙 江省宁波市中级人民法院网络司法拍卖成交确认书（执行案号：（2025）浙 02 执恢 10 号）；网拍案号：（2025）浙 02 网拍第 19 号）》（以下简称"成交确 认书"）、《浙江省宁波市中级人民法院执行裁定书（2025）浙 02 执恢 10 号之 一》（以下简称"执行裁定书之一"），获悉公司原控股股东、实际控制人卢先 锋司法拍卖股份的竞买人励柯磊拍卖成交的 12,500,000 股公司股票已完成过户 ...

宁波先锋新材料股份有限公司 详式权益变动报告书 权益变动性质：持股数量及比例不变，被动成为第一大股东 签署日期：2025 年 6 月 3 日 1 上市公司信息 上市公司名称：宁波先锋新材料股份有限公司 股票上市地点：深圳证券交易所 股票简称：先锋新材 股票代码：300163 信息披露义务人信息 姓名：郎海涛 住所：浙江省兰溪市游埠镇百斗畈村 通讯地址：浙江省宁波市海曙区石碶街道车何渡村工业园 信息披露义务人声明 一、信息披露义务人依据《中华人民共和国证券法》（以下简称"证券法"）《上 市公司收购管理办法》（以下简称"收购办法"）《公开发行证券的公司信息披露内 容与格式准则第15号－权益变动报告书》（以下简称"准则15号"）等相关法律、法 规和规范性文件编写本报告书。 二、信息披露义务人签署本报告书已获得必要的授权和批准。 三、依据《证券法》《收购办法》的规定，本报告书已全面披露信息披露义务 人在宁波先锋新材料股份有限公司（以下简称"公司"或"本公司"）中拥有权益的股 份变动情况。 截至本报告书签署之日，除本报告书披露的信息外，信息披露义务人没有通过 任何其他方式增加或减少其在本公司中拥有权益的股份。 四、本次 ...

宁波先锋新材料股份有限公司 简式权益变动报告书 上市公司信息 上市公司名称：宁波先锋新材料股份有限公司 股票上市地点：深圳证券交易所 股票简称：先锋新材 股票代码：300163 一、信息披露义务人信息 二、信息披露义务人签署本报告书已获得必要的授权和批准。 三、依据《证券法》《收购办法》的规定，本报告书已全面披露信息披露义务 人在宁波先锋新材料股份有限公司（以下简称"公司"或"本公司"）中拥有权益的股 份变动情况。 截至本报告书签署之日，除本报告书披露的信息外，信息披露义务人没有通过 任何其他方式增加或减少其在本公司中拥有权益的股份。 四、本次权益变动是根据本报告书所载明的资料进行的。除信息披露义务人外， 没有委托或者授权其它任何人提供未在本报告书列载的信息和对本报告书做出任 何解释或者说明。 姓名：卢先锋 住所、通讯地址：浙江省宁波市海曙区国丰街 股份变动性质：因股份被司法拍卖导致持股比例减少 二、一致行动人信息 姓名：卢成坤 住所、通讯地址：浙江省宁波市海曙区马园村 股份变动性质：不变 签署日期：2025 年 6 月 3 日 1 信息披露义务人声明 一、信息披露义务人依据《中华人民共和国证券法》（以下简称 ...

Group 1: Bond ETF Market - The bond ETF market has seen significant growth, with over 40 billion yuan in net inflows in May alone, reaching a new high in total scale [1] - On May 30, 10 out of the top 12 ETF products by trading volume were bond ETFs, indicating strong market participation [1] - Nine bond ETFs have been approved for use as collateral in general pledge-style repurchase agreements, which may accelerate the expansion of the bond ETF market [1] Group 2: Public Fund Issuance - In May, bond funds dominated the public fund issuance market with a 55.07% issuance ratio, while equity products faced uneven demand [1] - The issuance of ETFs has declined for four consecutive months, raising only 11.068 billion units in May [1] - The market reflects a struggle between stability and change, with bond funds providing a safety net while equity products seek growth in niche segments [1] Group 3: Private Equity and ETF Investment - Private equity firms have shown strong interest in newly listed ETFs, with 104 firms holding a total of 1.783 billion shares in 97 ETFs [2] - The preferred themes for private equity investments are technology innovation and free cash flow [2] Group 4: Insurance Companies' Stock Purchases - As of the end of May, seven insurance companies have made 15 stock purchases this year, surpassing the total for 2023 and the first nine months of 2024 [2] - The majority of these purchases have been in bank stocks, with additional investments in public utilities, energy, and transportation sectors [2] Group 5: Corporate Developments - 28 companies have successfully removed their ST (Special Treatment) status this year, primarily through financial improvements, internal control repairs, and bankruptcy restructuring [3] - The airline industry is expected to see improved profitability due to falling oil prices and recovering demand, with a projected net profit margin of 3.7% for 2025 [3] - Domestic new energy vehicle manufacturers reported significant sales growth in May, with several companies achieving monthly sales exceeding 40,000 units, driven by extended-range vehicles [4] Group 6: Tesla's Sales Decline - Tesla's sales in France plummeted by 67% in May, marking the lowest sales level in nearly three years, despite the launch of a new version of its Model Y [6]

Core Viewpoint - ST Pioneer has reported a negative net profit for the fourth consecutive year, with a non-recurring net profit of -16.73 million yuan for 2024, raising concerns about its ongoing viability and financial stability [1] Financial Performance - The company achieved a revenue growth of 2.64% year-on-year for 2024, while the non-recurring net profit loss narrowed by 66.45% compared to the previous year [3] - The company maintained a low debt level with no interest-bearing debts over the past three years, and its asset-liability ratio has remained low [4] Audit and Compliance - The audit report for 2024 included a qualified opinion due to guarantees provided to related parties and accounts receivable issues with KRS companies, which were consistent with the previous year's concerns [1][4] - The company has received an inquiry letter from the exchange regarding its ability to continue as a going concern and the specifics of related guarantees [1] Management and Operations - The actual controller and general manager, Lu Xianfeng, has been working abroad for personal reasons, while the financial director, Ye Linling, has also spent significant time overseas due to the establishment of subsidiaries in Singapore and Malaysia [2] - Despite the management being abroad, the company claims to maintain effective internal controls through online processes and institutional oversight [2] Debt and Liquidity - The company has reduced the balance of related guarantee loans from 193 million yuan at the end of 2023 to 51 million yuan currently, alleviating some associated risks [4] - The actual controller's short-term debt repayment ability is poor, with all shares in the listed company being restricted, and liquidity issues are present in related parties [5][6] Accounts Receivable - KRS company, a downstream partner, has been facing financial difficulties, with ST Pioneer reporting a sales amount of 47.57 million yuan in 2024, of which 1 million yuan has been recovered [6][7] - KRS company has committed to a repayment plan, with a promise to pay 15 million yuan by specific deadlines, backed by personal guarantees from Lu Xianfeng [7]

Core Viewpoint - ST Pioneer (ST先锋) has faced significant financial challenges, including a negative net profit for four consecutive years and a qualified audit opinion for its 2024 financial report, primarily due to related party guarantees and accounts receivable issues [1][3][5]. Financial Performance - In 2024, ST Pioneer reported a revenue increase of 2.64% year-on-year, while its net profit loss narrowed by 66.45% compared to the previous year [3]. - The company has maintained a low debt level with no interest-bearing debts over the past three years, and its asset-liability ratio remains low [3]. Related Party Guarantees - The company provided joint liability guarantees for bank loans totaling up to 394 million yuan for related parties, with the outstanding loan balance decreasing from 193 million yuan at the end of 2023 to 51 million yuan currently [3][4]. - The risk associated with these guarantees has been further mitigated as the loans have been extended and no early repayment has been declared by the banks [4]. Management and Operational Challenges - The company's actual controller, Lu Xianfeng, and the financial director, Ye Linling, have been working abroad for extended periods, but the company claims to maintain effective internal controls through online processes and board supervision [2]. - The liquidity situation of Lu Xianfeng and related parties is tight, with short-term debt repayment capabilities being poor, despite the net assets being positive [5][6]. Accounts Receivable Issues - ST Pioneer has significant accounts receivable from KRS companies, with a total sales amount of 47.57 million yuan in 2024, and a collection rate of 20.85% for the reporting period [6][7]. - KRS company is currently insolvent, relying on cash flow and guarantees from Lu Xianfeng for its obligations [7].

Core Viewpoint - Multiple listed companies in the Shanghai and Shenzhen markets have announced significant updates, impacting their operations and stock performance [2] Group 1: Company Announcements - Zhongke Xingtu has been suspended from participating in military procurement activities due to alleged violations, which may impact its operations in the short term, although existing contracts remain valid [3] - Guangyang Co. has terminated its plan to acquire 100% of Ningbo Yinqiu Technology Co., and its stock will resume trading on May 30, 2025, with no adverse effects on its business or financial status [4][5] - ST Pioneer will remove its risk warning and change its stock name to Pioneer New Materials, as previous risk indicators have been resolved [6] - Fengmao Co. plans to invest up to 1.5 billion yuan in a new automotive parts production base in Jiaxing, with an expected annual output value of approximately 1.5 billion yuan [7] - Yiwei Communication intends to invest 100 million yuan to establish a wholly-owned subsidiary focused on investment activities and IoT technology services [8] - Hexing Co. clarified that it is not involved in the "unmanned logistics vehicle" business despite recent market speculation, and its operations remain normal [9] - Junyao Health's director reduced his holdings by 30,000 shares during a period of stock price volatility [10] - Menguli plans to reduce its shareholding by up to 5% through major transactions [11] Group 2: Major Contracts - Pingao Co. signed a significant contract worth 397 million yuan for providing computing resource services, which is expected to positively impact its business and performance [12]

关于宁波先锋新材料股份有限公司 年报问询函的回复 众环专字（2025）0101090 号 深圳证券交易所创业板公司管理部： 中审众环会计师事务所（特殊普通合伙）（以下简称"本所"或"我们"）作为宁波先 锋新材料股份有限公司（以下简称"先锋新材"或"公司"）2024 年度财务报表的审计机 构，于 2025 年 4 月 28 日出具了众环审字（2025）0101503 号的保留意见审计报告。 2025 年 5 月 7 日，深圳证券交易所创业板公司管理部出具了《关于对宁波先锋新材料 股份有限公司的年报问询函》（以下简称"问询函"），我们以对先锋新材相关财务报表执 行的审计工作为依据，对问询函中需要本所回复的相关问题履行了核查程序，现将核查情 况说明如下： 问题 1： 你公司因 2021 年至 2023 年连续三个会计年度扣除非经常性损益前后净利润孰低者均 为负值且 2023 年度审计报告显示公司持续经营能力存在不确定性，公司股票交易于 2024 年 5 月 6 日被实施其他风险警示。2024 年，中审众环会计师事务所（特殊普通合伙）（以 下简称"中审众环"）对公司财务报告出具了《2023 年度财务报表审计报告部分非 ...