Core Viewpoint - The cobalt and nickel sector is experiencing a strong rally, with several companies reaching their daily price limits [1] Group 1: Stock Performance - Companies such as Xingye Yinxin, Guocheng Mining, and Shengtun Mining have hit the daily limit up [1] - Other notable performers include Huayou Cobalt, Tibet Mining, ST Hezhong, Hainan Mining, Shengda Resources, Dangsheng Technology, and Hanrui Cobalt, which have shown significant price increases [1]

Core Viewpoint - ST Hezhong (300477.SZ) has confirmed that there is currently no business relationship with Hunan Yuneng [2] Group 1 - Investors inquired about the relationship between ST Hezhong and Hunan Yuneng on the investor interaction platform [2] - ST Hezhong responded on November 11, stating that there are no business dealings with Hunan Yuneng at this time [2]

Market Overview - The Shanghai Composite Index closed at 4018.60 points, above the annual line, with a change of 0.53% [1] - The total trading volume of A-shares reached 2,194.371 billion yuan [1] Stocks Breaking Annual Line - A total of 112 A-shares have surpassed the annual line today, with notable stocks showing significant deviation rates [1] - The stocks with the highest deviation rates include: - Shede Liquor: 9.90% - Binhai Energy: 8.36% - Pinwo Food: 6.38% [1] Detailed Stock Performance - The following table summarizes the performance of stocks that broke the annual line: - Shede Liquor (600702): Today's change of 10.01%, turnover rate of 7.58%, latest price 65.63 yuan [1] - Binhai Energy (000695): Today's change of 9.96%, turnover rate of 5.02%, latest price 12.47 yuan [1] - Pinwo Food (300892): Today's change of 8.84%, turnover rate of 16.98%, latest price 36.70 yuan [1] - Other notable stocks include: - Haida Co. (300320): 8.77% change, 9.19% turnover, latest price 10.91 yuan [1] - Huachao City A (000069): 9.92% change, 3.74% turnover, latest price 2.66 yuan [1] Additional Stocks with Minor Deviations - Stocks with smaller deviation rates that just crossed the annual line include: - Wanxin Media: Minor deviation rate [1] - Chengdu Bank: Minor deviation rate [1] - China Publishing: Minor deviation rate [1]

截至本公告披露日，公司已完成《公司章程》的工商备案登记。根据北京市 房山区市场监督管理局规范性要求，公司调整了《公司章程》部分条款的措辞， 调整内容与公司 2025 年第四次临时股东大会审议通过的《公司章程》不存在实 质性差异。 经北京市房山区市场监督管理局最终核准、备案的《公司章程》具体内容详 见公司同日披露在巨潮资讯网上的相关公告。 合纵科技股份有限公司 证券代码：300477 证券简称：ST 合纵 公告编号：2025-070 合纵科技股份有限公司 关于完成《公司章程》工商备案登记的公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚 假记载、误导性陈述或者重大遗漏。 合纵科技股份有限公司（以下简称"公司"）于2025年6月10日召开第七届 董事会第五次会议、2025年6月27日召开2025年第四次临时股东大会审议通过了 《关于拟修订<公司章程>的议案》。同时，授权公司董事会办理相关工商变更登 记手续,并授权董事会及其授权办理人员在办理相关审批、备案登记手续过程中， 可按照工商登记机关或其他政府有关部门提出的审批意见或要求，对本次变更 （备案）登记事项进行必要的修订，上述修订对公司具有法 ...

合纵科技股份有限公司 章 程 2025 年 6 月 | 第一章 总则 . | | --- | | 第二章 经营宗旨和经营范围 | | 第三章 股份 . | | 第一节 股份的发行 | | 第二节 股份增减和回购 | | 第三节 股份转让 . | | 第四章 股东和股东会 . | | 第一节 股东 . | | 第二节 股东会的一般规定 . | | 第三节 股东会的召集 | | 第四节 股东会的提案与通知 | | 第五节 股东会的召开 | | 第六节 股东会的表决和决议 | | 第五章 董事会 . | | 第一节 董事 . | | 第二节 董事会 ……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………27 | | 第六章 总经理及其他高级管理人员 | | 第七章 监事会 . | | 第一节 监事 . | | 第二节 监事会 | | 第八章 财务会计制度、利润分配和审计 . | | 第一节 财务会计制度 . | | 第二节 内部审计 | | 第三节 会计师事务所的聘任 | | 第九 ...

证券代码：300477 证券简称：ST 合纵 公告编号：2025-069 1、公司管理层及相关方将积极采取有效措施，尽快消除相关事项对公司的 影响。公司已严格遵照《企业内部控制基本规范》等规定，不断加强公司内控体 系建设和监督工作，全面加强对各级子公司的管理，确保公司在所有重大方面保 持有效的内部控制。 2、公司已持续加强财务队伍建设，定期组织财务人员及相关管理人员开展 学习会计准则及应用指南、财税政策、交易所的监管动态和相关处罚案例等，提 升相关人员专业水平和合规意识。公司将进一步加强财务人员与业务人员的沟通 和紧密联系，对业务活动实质做到充分了解，强化关键单据审核，持续夯实财务 核算基础，从源头保证财务报告信息质量。 合纵科技股份有限公司 关于公司股票被实施其他风险警示相关事项的进展 公告 本公司及董事会全体成员保证公告的内容真实、准确和完整，没有虚假记 载、误导性陈述或者重大遗漏。 一、被实施其他风险警示暨可能被实施退市风险警示的相关情况 合纵科技股份有限公司（以下简称"公司"）2024 年度财务报告内部控制 被中兴财光华会计师事务所（特殊普通合伙）（以下简称"中兴财光华"）出具 了否定意见的审计报告。 ...

证券代码：300477 证券简称：ST 合纵 公告编号：2025-068 合纵科技股份有限公司 关于完成工商变更登记并换发营业执照的公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚 假记载、误导性陈述或者重大遗漏。 一、工商变更登记情况说明 合纵科技股份有限公司（以下简称"公司"）于2025年6月10日召开第七届 董事会第五次会议、2025年6月27日召开2025年第四次临时股东大会审议通过了 《关于拟变更公司注册地址的议案》。具体内容详见公司在指定信息披露网站巨 潮资讯网披露的《关于拟变更注册地址、修订<公司章程>的公告》。 公司已于近日完成了工商变更登记手续，并取得了北京市房山区市场监督管 理局换发的《营业执照》，公司变更后的《营业执照》具体登记内容如下： 结构制造；金属结构销售；电气设备修理；工程管理服务；工程技术服务(规划 管理、勘察、设计、监理除外)；软件开发；储能技术服务；货物进出口；技术 进出口；进出口代理。(除依法须经批准的项目外，凭营业执照依法自主开展经 营活动)许可项目：电气安装服务；输电、供电、受电电力设施的安装、维修和 试验。(依法须经批准的项目，经相关部门批准后 ...

Core Insights - The average stock price of A-shares is 14.06 yuan, with 28 stocks priced below 2 yuan, the lowest being *ST Gao Hong at 0.38 yuan [1][2] - Among the low-priced stocks, 12 are ST stocks, accounting for 42.86% of the total [1] - In terms of market performance, 11 of the low-priced stocks increased in price, with HNA Holding, ST Lingnan, and Jin Zheng Da showing the highest gains of 3.55%, 2.58%, and 1.68% respectively [1] Low-Priced Stocks Overview - The lowest priced stock is *ST Gao Hong at 0.38 yuan, followed by *ST Yuan Cheng at 0.86 yuan and *ST Su Wu at 0.96 yuan [1] - The daily performance of low-priced stocks shows that 11 stocks increased while 11 decreased, with *ST Yuan Cheng, ST Jing Lan, and ST Ming Cheng experiencing the largest declines of 4.44%, 2.25%, and 1.60% respectively [1] - The table of low-priced stocks includes various sectors such as telecommunications, construction decoration, pharmaceuticals, real estate, and steel [1][2]

Financial Performance - The company's revenue for Q3 2025 was ¥373,784,169.69, a decrease of 48.12% compared to the same period last year[5] - The net profit attributable to shareholders was -¥57,313,512.35, representing a decline of 21.64% year-on-year[5] - The net profit after deducting non-recurring gains and losses was -¥50,412,794.13, down 1.39% from the previous year[5] - Total operating revenue for the period was CNY 1,109,070,523.28, a decrease of 48.8% compared to CNY 2,162,567,593.60 in the previous period[18] - The company reported a net loss of CNY 1,553,716,914.27, compared to a net loss of CNY 1,418,521,182.77 in the previous period[17] - The net profit for Q3 2025 was -290,345,531.46 CNY, compared to -244,888,412.13 CNY in the same period last year, reflecting an increase in net loss of approximately 18.5%[19] - Operating profit for Q3 2025 was -298,129,163.59 CNY, slightly worse than -285,553,210.05 CNY in Q3 2024, indicating a decline in operational performance[19] - The company reported a total comprehensive loss of -290,345,982.12 CNY for Q3 2025, compared to -245,633,276.15 CNY in Q3 2024, marking an increase in comprehensive loss of about 18.1%[19] Assets and Liabilities - Total assets at the end of the reporting period were ¥4,867,845,022.44, a decrease of 10.14% from the end of the previous year[5] - Cash and cash equivalents decreased to CNY 114,990,284.13 from CNY 191,005,884.94, representing a decline of 39.7%[15] - Accounts receivable decreased to CNY 610,181,416.73 from CNY 855,260,158.25, a reduction of 28.6%[15] - Inventory decreased slightly to CNY 445,695,707.65 from CNY 457,122,681.20, a decline of 2.5%[15] - Total assets decreased to CNY 4,867,845,022.44 from CNY 5,417,294,104.48, a decrease of 10.1%[16] - Total liabilities decreased to CNY 4,490,116,358.54 from CNY 4,749,218,999.82, a reduction of 5.5%[16] - The company’s equity attributable to shareholders decreased to CNY 986,147,645.78 from CNY 1,121,343,835.92, a decline of 12.0%[17] - Long-term borrowings increased to CNY 620,577,554.77 from CNY 344,450,000.00, an increase of 80.0%[16] Cash Flow - Operating cash flow for the year-to-date was ¥103,673,786.27, down 39.29% year-on-year[9] - Cash flow from operating activities generated a net amount of 103,673,786.27 CNY, down from 170,780,354.48 CNY year-over-year, representing a decrease of about 39.3%[20] - The net cash flow from investing activities was 23,850,312.09 CNY, a significant improvement from -422,315,408.92 CNY in the previous year, indicating a positive shift in investment cash flow[21] - The company incurred a total of 1,454,363,034.77 CNY in cash outflows from financing activities, compared to 2,178,105,574.44 CNY in the previous year, reflecting a decrease of about 33.3%[21] Shareholder Information - The company's basic earnings per share were -¥0.06, a decrease of 20.00% compared to the same period last year[5] - Basic and diluted earnings per share for Q3 2025 were both -0.13 CNY, compared to -0.17 CNY in the same quarter last year, showing an improvement in loss per share[20] - The total number of ordinary shareholders at the end of the reporting period was 42,195[11] Other Income and Investments - The company's investment income increased significantly by 1257.37% to ¥21,680,481.75 due to the sale of Zhejiang Yinglian[9] - The company reported a 91.27% increase in other income to ¥45,415,634.01, attributed to new government subsidies and input tax deductions[9] - The company did not report any net profit from subsidiaries prior to the merger, maintaining a consistent approach in financial reporting[20]

Core Points - The article discusses the environmental risks faced by 11 listed companies in China, highlighting recent penalties for violations related to air and water pollution [4][5][10] - It emphasizes the growing importance of environmental responsibility in corporate governance and investment decisions, particularly in the context of ESG (Environmental, Social, and Governance) principles [15] Group 1: Environmental Violations and Penalties - Chengfa Environment was fined 448,000 yuan for evading regulations related to air pollution by improperly operating pollution control facilities [10][13] - Qidi Environment received a penalty of 267,000 yuan for discharging water pollutants through unauthorized channels [13] - Shilong Industrial was fined 198,000 yuan for discrepancies in the number of exhaust outlets compared to its pollution discharge permit [11] Group 2: Impact on Shareholders - The 11 companies involved have a combined total of 1,677,300 shareholders, indicating potential investment risks due to their environmental violations [10] - The article suggests that these environmental issues could affect the companies' reputations and financial performance, thereby impacting shareholder value [6][10] Group 3: Regulatory Context - The article notes that the data on environmental violations is collected from various government sources across 31 provinces and cities in China, aiming to enhance transparency in corporate environmental practices [4][15] - It highlights the legal framework supporting public access to environmental information, which has been strengthened over the years [15]