Core Viewpoint - The rail transit equipment sector experienced a slight decline of 0.02% on November 26, with notable movements in individual stocks, particularly a drop in Jiao Da Si Nuo [1] Stock Performance Summary - The Shanghai Composite Index closed at 3864.18, down 0.15%, while the Shenzhen Component Index rose to 12907.83, up 1.02% [1] - Key performers in the rail transit equipment sector included: - Gongda Gaoke (688367) with a closing price of 28.85, up 7.49% on a trading volume of 71,300 shares and a turnover of 202 million yuan - Jinchuan Group (603680) closed at 11.12, up 2.30% with a trading volume of 156,600 shares and a turnover of 175 million yuan - China CRRC (601766) closed at 7.27, up 0.55% with a trading volume of 850,900 shares and a turnover of 615 million yuan - Other notable stocks included China Railway Materials (000927) and Bide Technology (605298) with minor gains [1] Capital Flow Analysis - The rail transit equipment sector saw a net outflow of 6.0048 million yuan from institutional investors, while retail investors experienced a net outflow of 46.4598 million yuan, indicating a mixed sentiment in the market [2] - Notable capital flows for specific stocks included: - China CRRC had a net inflow of 1.05 billion yuan from institutional investors, but a net outflow of 15.3307 million yuan from retail investors [3] - Jinchuan Group saw a net inflow of 490.52 million yuan from retail investors, while experiencing a minor outflow from institutional investors [3]

（文章来源：证券日报） 证券日报网讯交大思诺11月24日在互动平台回答投资者提问时表示，截至2025年11月20日公司股东总数 为8632户。 ...

证券日报网讯交大思诺（300851）11月13日在互动平台回答投资者提问时表示，截至2025年11月10日公 司股东总数为8762户。 ...

Core Viewpoint - The rail transit equipment sector experienced a slight decline of 0.07% on November 10, with Tianyi New Materials leading the losses, while the Shanghai Composite Index rose by 0.53% and the Shenzhen Component Index increased by 0.18% [1] Summary by Category Market Performance - The rail transit equipment sector's performance was mixed, with individual stocks showing varied results in terms of price changes and trading volumes [1] - The closing prices and percentage changes of key stocks in the sector were as follows: - Gongda Gaoke: 23.77, +5.88% - China Communication Signal: 5.50, +2.23% - Xianghe Industry: 12.49, +1.71% - Zhonghe Technology: 8.23, +1.48% - Tieke Railway: 22.76, +1.47% - Shenzhou High-speed Railway: 3.00, +1.35% - Jiuzhou Yitui: 15.44, +1.11% - Yonggui Electric: 18.38, +1.10% - Changqing Technology: 20.22, +0.50% - Jiaokong Technology: 24.11, +0.42% [1] Stock Declines - Tianzhi New Materials saw the largest decline at -13.63%, followed by other notable declines: - Leirwei: -3.39% - Kanni Electromechanical: -2.03% - Bidetech: -1.61% - Tongke Technology: -1.40% - Quandu Heavy Industry: -1.17% [2] Capital Flow - The rail transit equipment sector experienced a net outflow of 110 million yuan from institutional investors, while retail investors saw a net inflow of 7.1352 million yuan [2] - The capital flow for key stocks indicated: - Shenzhou High-speed Railway: 12.2845 million yuan net inflow from institutions - Changqing Technology: 8.4701 million yuan net inflow from institutions - Gongda Gaoke: 8.2147 million yuan net inflow from institutions [3]

Core Viewpoint - The company, Jiaoda Sinuo, reported that as of October 31, 2025, the total number of shareholders is expected to reach 8,821 [2] Summary by Relevant Categories - **Shareholder Information** - The total number of shareholders for Jiaoda Sinuo is projected to be 8,821 by the end of October 2025 [2]

Summary of Key Points Core Viewpoint - Several shareholders from various companies are planning to reduce their stakes, indicating potential shifts in ownership and market sentiment. Additionally, some companies are facing significant regulatory actions, including delisting risks and investigations. Group 1: Shareholder Reductions - Montai High-tech's shareholders Guo Xianrui and Guo Lishuang plan to reduce their holdings by no more than 3% [1] - Boying Special Welding's shareholders Qianhai Equity Fund and Zhongyuan Qianhai Fund intend to reduce their stakes by no more than 3% [1] - Aerospace Intelligence's shareholder China Lucky plans to reduce its holdings by no more than 2.5% [1] - Ruifeng New Materials' shareholder Sinopec Capital aims to reduce its stake by no more than 1% [1] - Tianzhihang's shareholders Advanced Manufacturing Fund and Beijing-Tianjin-Hebei Fund plan to collectively reduce their holdings by no more than 3% [1] - Bull Group's actual controller Ruan Xueping has conducted a block trade to reduce 1.21% of the company's shares [1] - Other companies with notable reductions include Jiaoda Sino (up to 500,000 shares), Fangzhi Technology (up to 3%), and Shengyi Technology (up to 1%) [1] Group 2: Regulatory Actions and Investigations - ST Zhangjiajie will have its stock trading subject to additional delisting risk warnings and will be suspended [1] - Anpelong plans to terminate its 2025 restricted stock incentive plan [1] - Siwei Control's director and deputy general manager Zhao Jianzhou has been detained and is under investigation [1] - *ST Gaohong has been informed by the Shenzhen Stock Exchange that its stock will be delisted [1]

Core Viewpoint - The major shareholder Zhao Ming plans to reduce his stake in the company by selling up to 500,000 shares, which represents 0.58% of the total share capital, within three months after a 15 trading day period from the announcement date [2] Group 1 - Zhao Ming holds 4,536,000 shares, accounting for 5.22% of the company's total share capital [2] - The planned reduction in shares will be executed through centralized bidding or block trading methods [2] - The reduction is set to occur within three months following a 15 trading day notice period from the announcement [2]

Group 1 - The core point of the article is that Zhao Ming, a shareholder holding more than 5% of the shares, plans to reduce his stake in the company by up to 500,000 shares, which represents 0.58% of the total share capital, within three months after the announcement [1] Group 2 - The reduction will occur through centralized bidding or block trading methods [1] - The planned reduction will take place 15 trading days after the announcement date [1]

Core Viewpoint - Shareholder Zhao Ming, holding 5.22% of the shares, plans to reduce his stake in Jiaotong Sino (300851) by up to 500,000 shares, representing 0.58% of the company's total share capital through centralized bidding or block trading [1] Group 1 - Zhao Ming's shareholding reduction is significant as it indicates potential changes in shareholder sentiment [1] - The planned reduction of shares may impact the stock price and market perception of Jiaotong Sino [1] - The method of reduction (centralized bidding or block trading) suggests a strategic approach to minimize market disruption [1]

Group 1 - The core point of the announcement is that Zhao Ming, a shareholder holding 4.536 million shares (5.22% of the total equity), plans to reduce his holdings by up to 500,000 shares (0.58%) within three months after the disclosure date due to personal funding needs [1] Group 2 - The reduction will occur through centralized bidding or block trading methods [1]