Core Viewpoint - The company is undergoing financial difficulties, with significant losses and liquidity issues, but has taken steps to improve its situation, including asset disposals and seeking to revoke its delisting risk warning [11][19][34]. Financial Performance - In 2024, the company reported a revenue of 116.89 million yuan, with a net loss attributable to shareholders of 13.1 million yuan [13][22]. - The total assets of the company were 792.73 million yuan, with total liabilities leading to a high debt ratio of 87.79% [13][11]. - The company’s cash flow from operating activities was 5.95 million yuan, indicating a challenging cash flow situation [14]. Debt and Financing - The company has a significant amount of overdue debt, with approximately 2.21 billion yuan in interest-bearing liabilities, some of which are in litigation [11][13]. - The company has entered into a debt restructuring process and signed an investment agreement to alleviate financial pressure [15][12]. Asset Management - The company transferred accounts receivable valued at 16.7 million yuan to an affiliate for 60 million yuan, generating a gain of 4.33 million yuan [4][10]. - The company received a cash donation of 4 million yuan from its actual controller, which is not related to any repayment obligations [8][10]. Industry Context - The lighting engineering industry has faced a downturn since 2020 due to the global pandemic, but is expected to recover with a projected market size exceeding 900 billion yuan by 2026 [12][13]. - The company is adapting to industry changes by focusing on intelligent and systematic lighting solutions [12]. Regulatory Compliance - The company’s stock was previously under delisting risk due to negative net profit and revenue below 100 million yuan, but it has since applied to revoke this warning [19][34]. - The company has confirmed compliance with accounting standards and internal controls, as per the audit report [22][35].

Group 1: Stock Trading Anomalies - Chengfei Integration reported severe abnormal stock fluctuations, indicating a potential market sentiment overheating, with 96.91% of revenue from automotive parts and tooling, and only 1.74% from aerospace components [3] - Lijun Co. noted short-term market sentiment overheating in its stock, attributed to increased attention on military aircraft-related stocks due to geopolitical changes [4][5] - Yuzhong A stated that its stock has seen significant short-term gains, but there have been no major changes in its operational environment [8] Group 2: Risk Warnings and Suspensions - Zitian Technology received a delisting risk warning due to false financial reporting, with a deadline for rectification that was not met, leading to a potential delisting [6] - ST Mingjia announced the removal of its delisting risk warning but will continue to face other risk warnings, with a temporary suspension of trading [7] - ST Shengda's stock will be suspended for one day before resuming trading after the removal of other risk warnings [11] Group 3: Mergers and Acquisitions - Guangyang Co. is planning to acquire 100% of Ningbo Yinqiu Technology, leading to a suspension of its stock trading [9] - Electric Power Investment is also planning to acquire shares in Baiyin Hua Coal Power, with its stock set to resume trading [10] Group 4: Shareholder Reductions - Ruiling Co.'s controlling shareholder plans to reduce its stake by up to 3%, with specific figures provided for individual executives [13] - New Meixing's controlling shareholder intends to reduce its stake by up to 3% as well [14] - Yujian Intelligent's actual controllers plan to collectively reduce their stake by up to 2.99% [15] Group 5: Major Contracts - Qunxing Toys announced a 113 million yuan contract with Tencent for providing computing power services [23]

Group 1 - ST Shengda announced the removal of risk warnings and the change of its stock name from "ST Shengda" to "Shengda Forestry" effective May 20 [1] - ST Shengda's main business has shifted from home products to natural gas liquefaction and urban gas operations after significant restructuring [1][2] - The company has resolved issues related to the misuse of funds by its former controlling shareholder and has no current major shareholder or actual controller [2] Group 2 - ST Shengda is pursuing litigation related to the illegal guarantees provided by Shengda Group and aims to recover losses [3] - *ST Mingjia announced that it met the conditions for the removal of delisting risk warnings, with an audited revenue of 117 million and a net asset of 96.44 million for 2024 [3] - Despite the removal of delisting risk warnings, *ST Mingjia will continue to face other risk warnings due to negative net profits in the last three accounting years [3]

Core Viewpoint - The report addresses the slow progress of the LED landscape art lighting research and production base and experience center project by MingJiaHui Technology Co., Ltd, highlighting the reasons for delays and the feasibility of the project [1][2][5]. Group 1: Project Progress and Delays - The project, originally planned to be completed by June 30, 2020, has faced delays due to changes in the development plan of the construction site and public health safety events [2][3]. - The construction progress is currently at 59.6%, with a total investment of 143 million yuan (approximately 21 million USD) [1][2]. - The company has adjusted the project location and extended the expected completion date to September 30, 2021, due to the aforementioned delays [3][4]. Group 2: Project Feasibility and Impairment Testing - The feasibility of the project has not undergone significant adverse changes, and the company has engaged a qualified assessment agency to conduct impairment testing [5][9]. - The recoverable value of the project as of December 31, 2024, is estimated at 140.92 million yuan (approximately 21 million USD), with an impairment of 4.82 million yuan (approximately 0.73 million USD), resulting in an impairment rate of 3.31% [5][9]. Group 3: Supplier Relationships - The top five suppliers for the project include China New Era Construction Engineering Co., Ltd, which is a wholly-owned subsidiary of a major shareholder, while the other suppliers have no related party relationships with the company or its major shareholders [6][7][10]. - There are no indications of fund occupation or other financial transactions between the company and its major shareholders or executives, aside from normal operational transactions with the suppliers [7][10].

Core Viewpoint - Shenzhen Mingjiahui Technology Co., Ltd. reported a revenue of 117 million yuan in 2024, representing a year-on-year growth of 44.09%, while the net profit attributable to shareholders after deducting non-recurring gains and losses was a loss of 153 million yuan, a reduction in loss of 24.7 million yuan compared to the previous year [1] Revenue and Profit Analysis - The company's main business is landscape lighting engineering, which includes design, construction, and related product sales. The revenue from engineering construction accounted for 81.10% of total revenue in 2024, with a gross margin of 24.31%, an increase of 18.8 percentage points year-on-year [1] - The revenue from product sales accounted for 16.86% of total revenue in 2024, with a gross margin of 16.67% [1] - The overall gross margin trend aligns with market demand changes, with the comprehensive gross margin for engineering construction and product sales being 23.06% in 2024 [1][4] Market Growth and Industry Comparison - The landscape lighting industry in China has seen significant growth, with the market size increasing from 442.6 billion yuan in 2016 to 651.5 billion yuan in 2023 [1] - The company's gross margin and revenue are lower than industry peers, but the trend of changes is consistent with the industry [4][3] Major Clients and Revenue Sources - The top five clients contributed significantly to the company's revenue, with the largest client being the government of Guangxin District, accounting for 98.53% of total revenue [1] - The company primarily undertakes projects led by government agencies, which tend to have larger scales and shorter implementation cycles compared to commercial real estate projects [4] Accounts Receivable and Bad Debt Provisions - The company reported accounts receivable of 906 million yuan, with a bad debt provision of 599 million yuan, representing a provision rate of 66.14% [12] - Specific details on accounts receivable and the basis for bad debt provisions were provided, indicating a focus on timely and accurate recognition of potential losses [12][13] Tax Compliance and Revenue Recognition - The company follows tax regulations for VAT and corporate income tax, ensuring compliance and avoiding tax-related risks [10] - Revenue recognition is based on project progress, with no instances of cross-period revenue recognition reported [9][10] Project Details and Execution - The company confirmed significant project revenues for 2024, with major projects including urban lighting enhancements and cultural tourism infrastructure [7][9] - The project acquisition process is conducted through public bidding or competitive negotiation, adhering to legal and industry standards [11][9]

*ST名家（300506）晚间公告，公司股票自2025年5月20日起被撤销退市风险警示并继续实施其他风险 警示，股票简称由"*ST名家"变更为"ST名家汇"，证券代码仍为"300506"，股票自2025年5月19日(星期 一)开市起停牌一天，并于5月20日(星期二)开市起复牌。 ...

关于深圳市名家汇科技股份有限公司 2024年度年报的问询函的专项说明 中兴华会计师事务所(特殊普通合伙) ZHONGXINGHUA CERTIFIED PUBLIC ACCOUNTANTS LLP 地址：北京市丰台区丽泽路 20 号丽泽 SOHO Ｂ座 20 层 邮编：100073 电话：(010) 51423818 传真：(010) 51423816 1 中 兴 华 会 计 师 事 务 所 （ 特 殊 普 通 合 伙 ） Z H O N G X I N G H U A C E R T I F I E D P U B L I C A C C O U N T A N T S L L P 地址（ location ） ： 北 京 市 丰 台 区 丽 泽 路 2 0 号丽泽 S O H O B 座 2 0 层 20/F,Tower B,Lize SOHO,20 Lize Road,Fengtai District,Beijing PR China 电话（ tel ） ： 0 1 0 - 5 1 4 2 3 8 1 8 传真（ fax ） ： 0 1 0 - 5 1 4 2 3 8 1 6 关于深圳市名家汇科技股份有 ...

中天国富证券有限公司 关于深圳证券交易所《关于对深圳市名家汇科技股份有限 公司的年报问询函》相关事项的核查意见 深圳证券交易所创业板公司管理部： 中天国富证券有限公司（以下简称"中天国富"、"保荐机构"）作为深圳 市名家汇科技股份有限公司（以下简称"名家汇"、"公司"）以简易程序向特 定对象发行股票的保荐机构。2025年4月8日，贵所下发《关于对深圳市名家汇科 技股份有限公司的年报问询函》（创业板年报问询函〔2025〕第7号）（以下简 称"《问询函》"）。中天国富根据《问询函》的要求，针对相关问题进行专项 核查并发表核查意见如下： 问题4：年报显示，你公司在建工程为LED景观艺术灯具研发生产基地暨体 验展示中心建设项目，累计投入1.43亿元，工程进度为59.6%。请你公司： （1）结合市场环境变化、业务开展情况等，说明在建工程进展缓慢的具体 原因、在建工程预计转入固定资产的条件及时点。 （2）说明LED景观艺术灯具研发生产基地暨体验展示中心建设项目的可行 性是否发生重大不利变化，计提减值准备是否充分。 （3）列示在建工程主要供应商情况，说明相关主体与上市公司、大股东、 董监高是否存在关联关系或任何形式的资金往 ...

证券代码：300506 证券简称：*ST 名家 公告编号：2025-057 深圳市名家汇科技股份有限公司 关于撤销退市风险警示并继续实施其他风险警示 暨股票停牌一天的公告 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。 特别提示： 1、深圳市名家汇科技股份有限公司（以下简称"公司"）股票自2025年5 月19日（星期一）开市起停牌一天，并于5月20日（星期二）开市起复牌。 2、公司股票自2024年4月29日起被实施"退市风险警示"及"其他风险警示"， 股票简称由"名家汇"变更为"*ST名家"；公司股票自2025年5月20日起被撤 销退市风险警示并继续实施其他风险警示，股票简称由"*ST名家"变更为"ST 名家汇"，证券代码仍为"300506"。 3、公司撤销退市风险警示后，公司股票将继续实施其他风险警示，公司股 票交易的日涨跌幅限制仍为20%。 一、股票种类、简称、证券代码以及撤销退市风险警示并继续实施其他风 险警示的起始日 1、股票种类：人民币普通股A股 2、股票简称：由"*ST名家"变更为"ST名家汇" 3、证券代码：无变动，仍为"300506" 4、撤销 ...

深圳市名家汇科技股份有限公司 关于对深圳证券交易所年报问询函回复的公告 证券代码：300506 证券简称：*ST 名家 公告编号：2025- 056 ①按照工程施工、产品销售分类，2022 年-2024 年营业收入、成本结构、毛 利率变动情况分析如下： 表一：2022 年-2024 年按业务类型划分的收入、成本、毛利率变动表 第 1 页 共 61 页 公司的主营业务为景观照明工程业务，包含了照明工程的设计、施工及相关 照明产品的研发、生产、销售。公司的照明产品主要包括 LED 洗墙灯、LED 点 光源、LED 线条灯、LED 护栏灯、投光灯、照树灯、瓦楞灯、窗台灯等特殊艺 术造型灯具，应用场景主要为商业照明、市政道路照明、景观装饰照明。 公司的照明产品主要用于自行实施的照明项目，同时也对外销售，其中用于 照明项目施工部分的收入为工程施工收入，直接对外销售的为产品销售收入。 景观灯管照明行业近年来的市场发展情况为，一方面，我国城市照明行业进 入快速发展轨道，市场规模从 2016 年的 4426 亿元增长至 2023 年的 6515 亿 元，保持强劲增长。另一方面，由于广泛运用于城镇化建设、市政建筑、智慧城 市建 ...