Group 1 - The core viewpoint of the news is that Langjin Technology's stock has experienced fluctuations, with a current price of 19.72 yuan per share and a market capitalization of 1.812 billion yuan, despite a year-to-date increase of 15.05% [1] - The company's main business revenue composition includes 69.87% from rail transit vehicle air conditioning and services, 23.83% from new energy and intelligent thermal management products, and smaller contributions from digital energy intelligent environmental control products and controllers [1] - As of December 10, the number of shareholders for Langjin Technology is 10,400, a decrease of 1.27% from the previous period, with an average of 8,754 circulating shares per person, an increase of 1.29% [2] Group 2 - For the period from January to September 2025, Langjin Technology reported an operating income of 536 million yuan, a year-on-year decrease of 8.12%, while the net profit attributable to the parent company was -13.502 million yuan, reflecting a year-on-year increase of 68.81% [2] - The company has distributed a total of 40.5201 million yuan in dividends since its A-share listing, with 9.1877 million yuan distributed over the past three years [3] - As of September 30, 2025, the top ten circulating shareholders of Langjin Technology saw a change, with the Noan Multi-Strategy Mixed A fund exiting the top ten list [3]

Core Viewpoint - The regulatory environment for listed companies in China has intensified in 2025, with over 80 companies facing penalties for information disclosure violations, reflecting a shift from lenient to strict enforcement by the China Securities Regulatory Commission (CSRC) [1][6] Group 1: Regulatory Actions - The CSRC has maintained a high-pressure stance on information disclosure violations, with penalties reaching up to 10 million yuan for companies and 500,000 yuan for responsible individuals, a significant increase from previous years [1][6] - Various types of violations have been identified, including failure to disclose periodic reports, financial fraud, and misuse of funds by actual controllers [1][6] Group 2: Financial Fraud Cases - Notable cases of financial fraud include: - Notai Bio, which inflated revenue by 30 million yuan through a closed-loop funding operation and faced a fine of 76.2 million yuan [2][8] - *ST Zitian, which reported inflated revenue of 2.499 billion yuan over two years, with 78.63% of its 2023 revenue being fictitious [2][8] - *ST Suwu, which failed to disclose its actual controller for several years and inflated revenue by 1.771 billion yuan while concealing 4.755 billion yuan in non-operating fund occupation [2][8] Group 3: Consequences of Violations - The implementation of a strict delisting mechanism has led to over 10 companies facing mandatory delisting due to severe violations, with *ST Yuancheng being the 13th company to face such consequences in 2025 [2][8] - The involvement of third-party entities in fraudulent activities has also been addressed, with penalties imposed on accomplices, such as the case of Nanjing Qingya Trading Co., which faced a fine of 7 million yuan and a 10-year market ban [2][8] Group 4: Shareholder Rights and Legal Actions - The regulatory framework now includes comprehensive accountability measures for not only the companies but also responsible individuals and intermediaries involved in fraudulent activities [4][11] - Shareholders affected by violations have successfully pursued legal actions, with several cases resulting in compensation for investors, highlighting the importance of active participation in seeking redress [4][11]

Core Viewpoint - The company, Langjin Technology, is facing severe operational challenges due to prolonged financial misconduct by its controlling shareholder, leading to a significant decline in its core business and overall financial health [1][17]. Group 1: Financial Misconduct - Langjin Technology and its six subsidiaries engaged in non-operational fund transfers to the controlling shareholder, totaling 415 million yuan over 18 months [2][18]. - The company failed to disclose these fund transfers in its financial reports, resulting in significant penalties from regulatory authorities [3][19]. - The controlling shareholder, Li Jingmao, received a substantial fine for organizing and directing these fund misappropriations, highlighting a lack of internal controls [20][21]. Group 2: Declining Business Performance - The company's core business, which includes air conditioning systems for rail transit and new energy vehicles, has seen a drastic decline in profitability since 2021 [5][26]. - Revenue growth has been overshadowed by a significant drop in gross margin from 38.88% in 2020 to 20.42% in 2024, a decrease of 18.46 percentage points [7][23]. - Net profit plummeted from a peak of 86.88 million yuan in 2020 to a loss of 76.41 million yuan in 2024, indicating a "cliff-like" decline over four years [9][26]. Group 3: Cash Flow and Debt Issues - The company has experienced negative cash flow from operating activities for three consecutive years, with a total outflow of 477 million yuan, equivalent to 18% of its revenue during that period [11][28]. - Short-term borrowings surged from less than 80 million yuan in 2020 to a stable range of 330-380 million yuan post-2022, reflecting increasing financial strain [13][29]. Group 4: Shareholder Actions - The second-largest shareholder, Zhejiang Jingjiantou, plans to transfer 13.06% of its shares, equivalent to 12 million shares, at a minimum price of 18.54 yuan per share, aiming to raise 222 million yuan [15][31]. - Despite multiple attempts to find buyers since November 2023, there has been no interest in acquiring these shares, indicating a lack of market confidence [32].

Market Performance - The rail transit equipment sector increased by 0.89% compared to the previous trading day, with Yonggui Electric leading the gains [1] - The Shanghai Composite Index closed at 3940.95, up 0.53%, while the Shenzhen Component Index closed at 13486.42, up 0.88% [1] Individual Stock Performance - Yonghui Electric (300351) closed at 18.63, up 7.32% with a trading volume of 525,300 shares and a transaction value of 28.66 million [1] - Langjin Technology (300594) closed at 20.47, up 7.06% with a trading volume of 81,700 shares and a transaction value of 164 million [1] - Tongye Technology (300960) closed at 25.98, up 6.17% with a trading volume of 47,700 shares and a transaction value of 122 million [1] - Tianyi New Material (688033) closed at 7.05, up 4.75% with a trading volume of 131,990 shares and a transaction value of 222 million [1] - Other notable stocks include Jiaokong Technology (688015) up 3.23%, and Xianghe Industry (603500) up 2.52% [1] Capital Flow Analysis - The rail transit equipment sector saw a net inflow of 32.9 million from institutional investors, while retail investors contributed a net inflow of 46.57 million [2] - However, there was a net outflow of 79.47 million from speculative funds [2] Detailed Capital Flow for Key Stocks - Yonghui Electric had a net inflow of 74.36 million from institutional investors, but a net outflow of 48.45 million from speculative funds [3] - Tongye Technology experienced a net inflow of 22.31 million from institutional investors, with a minor net outflow from speculative funds [3] - Other stocks like Zhongguo Tiewu (000927) and Xianghe Industry (603500) also showed varied capital flows, indicating mixed investor sentiment [3]

Core Viewpoint - Langjin Technology has been penalized for violations related to information disclosure, specifically for failing to timely disclose non-operating fund occupation by related parties, resulting in a total fine of 10.15 million yuan for the company and five related individuals [2]. Group 1: Administrative Penalty Details - On December 16, 2025, Langjin Technology and related parties received an administrative penalty notice from the Shandong Regulatory Bureau of the China Securities Regulatory Commission (CSRC) [2]. - The company was found to have engaged in non-operating fund occupation amounting to 415 million yuan from February 2024 to July 2025, involving its subsidiaries and the controlling shareholder [2]. Group 2: Information Disclosure Issues - In the 2024 interim report, the company stated that there were no non-operating fund occupations by the controlling shareholder or other related parties, which was later contradicted by the findings in the annual report [3]. - The annual report indicated internal control deficiencies in fund payment approvals and related party transactions, with the board committing to prevent such issues in the future [3]. Group 3: Fund Occupation Trends - At the beginning of 2024, the company reported zero non-operating fund occupation, but by mid-2025, it had accumulated an additional 229 million yuan in fund occupation, raising questions about potential concealment [4]. - The company had a repayment of 184 million yuan during the same period, leaving a balance of 864,520 yuan at the end of the previous period, which was fully repaid by the end of the reporting period [4]. Group 4: Regulatory Context - The CSRC has been increasingly focused on non-operating fund occupations, with regulations evolving from strict limitations to outright prohibitions on such practices [5]. - The introduction of the "Guidelines for the Supervision of Listed Companies on Fund Transactions and External Guarantees" in March 2022 marked a significant tightening of regulations in this area [5]. Group 5: Market Impact and Investor Concerns - Following the announcement of the administrative penalty, Langjin Technology's stock price dropped by 16% over two days, reflecting investor concerns about the implications of non-operating fund occupations [9]. - Legal experts have indicated that affected small investors may pursue legal claims due to the company's violations, highlighting the need for Langjin Technology to enhance its internal controls and compliance culture [9].

Group 1 - The A-share market continues to see an upward trend in liquid cooling concept stocks, with notable increases in share prices for several companies [1] - Fangsheng Co., Ltd. experienced a rise of over 12%, while Oulutong and Hongsheng Co., Ltd. saw increases of over 11% and 10% respectively [1] - Other companies such as Minglida, Jingyan Technology, and Yingweike also reported significant gains, with increases ranging from 5% to 9% [1] Group 2 - The table lists various companies along with their stock codes, percentage increases, total market capitalization, and year-to-date performance [2] - Fangsheng Co., Ltd. has a total market value of 29.24 billion and a year-to-date increase of 68.15% [2] - Oulutong has a market capitalization of 27.6 billion and a remarkable year-to-date increase of 137.26% [2] - Hongsheng Co., Ltd. has a market value of 6.167 billion and an impressive year-to-date increase of 256.74% [2] - Other companies listed show varying market capitalizations and year-to-date performance, indicating a strong interest in the liquid cooling sector [2]

12月23日，朗进科技（维权）盘中下跌2.01%，截至09:51，报18.08元/股，成交1275.96万元，换手率 0.77%，总市值16.61亿元。 截至12月10日，朗进科技股东户数1.04万，较上期减少1.27%；人均流通股8754股，较上期增加1.29%。 2025年1月-9月，朗进科技实现营业收入5.36亿元，同比减少8.12%；归母净利润-1350.20万元，同比增 长68.81%。 分红方面，朗进科技A股上市后累计派现4052.01万元。近三年，累计派现918.77万元。 机构持仓方面，截止2025年9月30日，朗进科技十大流通股东中，诺安多策略混合A（320016）退出十 大流通股东之列。 责任编辑：小浪快报 资金流向方面，主力资金净流出52.00万元，大单买入45.93万元，占比3.60%，卖出97.93万元，占比 7.68%。 朗进科技今年以来股价涨5.48%，近5个交易日涨11.88%，近20日跌0.77%，近60日涨1.18%。 资料显示，山东朗进科技股份有限公司位于山东省济南市莱芜高新区九龙山路006号，成立日期2000年4 月7日，上市日期2019年6月21日，公司主营业务涉及轨 ...

证券之星消息，12月22日轨交设备板块较上一交易日上涨0.14%，朗进科技领涨。当日上证指数报收于 3917.36，上涨0.69%。深证成指报收于13332.73，上涨1.47%。轨交设备板块个股涨跌见下表： | 代码 | 名称 | | 主力净流入(元) | 主力净占比 游资净流入(元) | | 游资净占比 散户净流入 (元) | | 散户净占比 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 000927 | 中国铁物 | | 727.23万 | 6.53% | -962.21万 | -8.64% | 234.97万 | 2.11% | | 605298 必得科技 | | | 609.68万 | 5.00% | -97.47万 | -0.80% | -512.21万 | -4.20% | | 002972 科安达 | | | 497.79万 | 6.78% | -259.54万 | -3.54% | -238.25万 | -3.25% | | 300923 研奥股份 | | | 248.72万 | 7.28% | -545.78万 | ...

登录新浪财经APP 搜索【信披】查看更多考评等级 受损股民可至新浪股民维权平台登记该公司维权：http://wq.finance.sina.com.cn/ 关注@新浪证券、微信关注新浪券商基金、百度搜索新浪股民维权、访问新浪财经客户端、 新浪财经首页都能找到我们！ 公司主营业务涉及变频节能轨道交通车辆空调、新能源汽车空调及其控制系统的研发、生产、销售及维 保服务。 按照申万行业分类（2021），朗进科技（维权）属于机械设备-轨交设备Ⅱ-轨交设备Ⅲ。 索赔区间： 2024年2月1日至2025年8月27日，2025年8月28日及以后卖出或继续持有的投资者，包括个人投资者和机 构投资者。（朗进科技维权入口） （本文由万商天勤（上海）律师事务所刘彦梅律师供稿，不代表新浪财经的观点。刘彦梅律师，系金融 诉讼、公司诉讼律师，辽宁大学法律硕士，具有保荐代表人（投资银行）资格、证券从业、私募基金从 业资格，并具备20年以上法律实务经验。目前已通过CPA审计、经济法、会计、战略、税法，是为数不 多的具有投行、财务思维的律师。曾代理多起投资者诉上市公司证券虚假陈述（股民索赔维权）案件， 成功为投资者挽回损失，深得投资者好评。）（ ...

2024年2月至2025年7月，朗进科技及其子公司成都朗进交通装备有限公司等直接或通过第三方公司与控 股股东青岛朗进集团有限公司（以下简称朗进集团）及其子公司莱芜朗进电气有限公司、济南瑞青科技 有限公司发生关联方非经营性资金占用，累计发生额为41，520.63万元。其中，2024年2月至6月关联方 非经营性资金占用发生额为8，648.70万元，截至2024年6月30日，关联方非经营性资金占用余额为 248.70万元，占2024年半年度报告披露净资产的0.28%，朗进科技未及时披露也未在2024年半年度报告 披露上述关联方非经营性资金占用，2024年半年度报告存在重大遗漏；2024年7月至2025年7月关联方非 经营性资金占用发生额为32，871.93万元，朗进科技未及时披露上述关联方非经营性资金占用。截至 2025年8月，朗进集团已偿还上述关联方非经营性资金占用本息。朗进科技2024年年度报告、2025年半 年度报告披露了上述关联方非经营性资金占用情况。 专门从事股民索赔法律事务的上海久诚律师事务所主任许峰律师认为，在2024年2月1日到2025年8月28 日之间买入朗进科技股票，并在2025年8月28日后卖 ...