Core Viewpoint - The company Jieqiang Equipment (300875.SZ) faces significant operational challenges and regulatory scrutiny despite its stock price performing well in the market. The company has been ordered to rectify internal control deficiencies and has experienced ongoing financial losses since its IPO in 2020 [2][3][4]. Regulatory Issues - Jieqiang Equipment received an administrative regulatory decision from the Tianjin Securities Regulatory Bureau due to internal control deficiencies, leading to warnings issued to four senior executives, including the chairman and general manager [2][5][6]. - The company has been found to have significant issues in financial and contract management, including improper use of employee personal bank accounts for transactions and signing of fictitious contracts [5][6]. Financial Performance - The company reported a loss of 0.23 billion yuan in the first three quarters of 2025, with cumulative losses of 3.86 billion yuan since 2022 [3][14]. - Since its IPO, Jieqiang Equipment has accumulated a net profit loss of 2.56 billion yuan, with a notable decline in profitability since 2021 [4][14]. Stock Market Performance - Despite the financial struggles, Jieqiang Equipment's stock has seen a significant increase, rising over 70% since the beginning of 2025, with a remarkable 2.2 times increase in stock price from April 9 to August 8 [4][15]. Company Background - Established in November 2005, Jieqiang Equipment focuses on the research, production, and sales of nuclear and biochemical safety equipment, aiming to provide integrated solutions in public safety and environmental protection [11].

Market Overview - The ground armament sector experienced a decline of 3.13% on November 20, with Changcheng Military Industry leading the drop [1] - The Shanghai Composite Index closed at 3931.05, down 0.4%, while the Shenzhen Component Index closed at 12980.82, down 0.76% [1] Individual Stock Performance - Changcheng Military Industry (601606) closed at 52.00, down 5.71% with a trading volume of 678,400 shares and a transaction value of 357.1 million [2] - Other notable declines include: - Tianzuo Equipment (300922) down 5.69% to 23.71 with a transaction value of 139 million [2] - Beifang Changlong (301357) down 5.32% to 156.98 with a transaction value of 1.182 billion [2] - Jiekang Equipment (300875) down 4.33% to 46.42 with a transaction value of 371 million [2] Capital Flow Analysis - The ground armament sector saw a net outflow of 836 million from institutional investors, while retail investors contributed a net inflow of 679 million [2][3] - The capital flow for major stocks includes: - Changcheng Military Industry with a net outflow of 423 million [3] - Inner Mongolia First Machinery (600967) with a net outflow of 110 million [3] - Beifang Navigation (600435) with a net outflow of 54 million [3]

中国经济网北京11月20日讯 深交所网站昨日公布关于对天津捷强动力装备股份有限公司及潘峰、 徐本友、潘淇靖、纪滋强的监管函（创业板监管函〔2025〕第137号）。 根据中国证券监督管理委员会天津监管局《关于对天津捷强动力装备股份有限公司采取责令改正并 对潘峰、徐本友、潘淇靖、纪滋强采取出具警示函措施的决定》（津证监措施〔2025〕39号）查明的事 实，公司存在以下违规行为： 捷强装备存在资金管理、合同管理内部控制缺陷，未建立健全财务、会计管理制度。一是2022年9 月至2025年3月公司通过职工个人银行卡代收付相关款项。二是公司于2022年、2023年签订不真实业务 合同并发生资金收支往来（未确认收入、成本）。三是公司个别委外研发合同未按合同约定执行，提前 支付款项。 捷强装备的上述行为违反了深交所《创业板股票上市规则》（2024年修订）第1.4条、第4.1.1条， 《创业板上市公司规范运作指引》（2023年12月修订）第1.4条、第5.1条、第5.2条的规定。潘峰作为公 司时任董事长兼总经理，徐本友作为公司时任财务总监，潘淇靖作为公司董事长兼总经理，纪滋强作为 公司财务总监，未能恪尽职守、履行诚信勤勉义务， ...

Core Viewpoint - Tianjin Jieqiang Power Equipment Co., Ltd. has received administrative regulatory measures from the Tianjin Securities Regulatory Bureau due to internal control deficiencies in financial and contract management, leading to warnings issued to key personnel [1][3][4] Group 1: Regulatory Actions - The company was ordered to rectify issues related to fund management and contract management, and four key personnel received warning letters [1][4] - The regulatory decision was based on findings that the company used personal bank accounts for transactions and signed false business contracts [3][4] Group 2: Company Background and Challenges - The company is involved in the research, production, and sales of core components for nuclear biological defense equipment, with a focus on hydraulic power systems for military vehicles [5] - The former chairman and general manager, Pan Feng, is embroiled in a bribery case, which has further complicated the company's situation [5][6] Group 3: Financial Performance - For the first three quarters of 2025, the company reported a revenue of 169 million yuan, an increase of 8.07% year-on-year, but a net loss attributable to shareholders of 23.19 million yuan, a decline of 146.20% [6] - The company has only one institutional investor holding 5.22% of its total shares, indicating limited investor confidence [6]

Acquisitions - Chenyi Intelligent plans to acquire 55% equity of Huaze Electronics for cash, making Huaze a subsidiary after the transaction [1] - Beijiete intends to acquire 55% equity of Dahao Mining for 224.8 million yuan, which will be included in the consolidated financial statements post-transaction [2] - Jinbei Automotive aims to invest 158 million yuan to acquire 52% equity of Zhongtuo Technology through capital subscription and equity transfer, resulting in Zhongtuo becoming a subsidiary [3] Performance Disclosure - SF Holding reported a 13.68% year-on-year increase in express logistics revenue for October, totaling 20.091 billion yuan, with a business volume of 1.524 billion pieces, up 26.26% [4] - YTO Express announced an 8.97% year-on-year growth in express product revenue for October, reaching 6.216 billion yuan, with a business volume of 2.79 billion pieces, up 12.78% [5] - Yunda Holdings experienced a 0.88% year-on-year decline in express service revenue for October, totaling 4.495 billion yuan, with a business volume of 2.135 billion pieces, down 5.11% [6] Shareholding Changes - Kanglongda announced that Huzhou Helin Fund plans to reduce its stake by up to 3%, equating to a maximum of 4.8333 million shares [7] - Yandong Microelectronics disclosed that the National Integrated Circuit Fund and Jingguorui plan to reduce their stakes by a combined maximum of 2.5%, with the National Fund reducing up to 21.4143 million shares and Jingguorui up to 14.2762 million shares [8] - Fuguang Co., Ltd. reported that its controlling shareholder plans to increase its stake by no less than 80 million yuan and no more than 150 million yuan, with a minimum purchase price of 21 yuan per share [9] Risk Matters - Xuelang Environment received a pre-restructuring application from a creditor, citing the company's inability to repay due debts and lack of repayment capacity, but indicating potential for restructuring [10] - Jieqiang Equipment received a warning letter from Tianjin Securities Regulatory Bureau for administrative regulatory measures due to compliance issues [11] - Hefei Urban Construction confirmed that its operations are normal and there are no undisclosed significant matters, despite abnormal stock price fluctuations [12]

Group 1 - Kanglongda's shareholder plans to reduce holdings by up to 3% of the company's shares, totaling no more than 4.83 million shares [1] - The company specializes in the research, production, and sales of special and ordinary labor protection gloves [1] Group 2 - Haizheng Pharmaceutical's subsidiary plans to collaborate with East China Institute on a biological method for synthesizing heparin, with a project contract amount not exceeding 120 million yuan [2] - The company focuses on the research, production, and sales of chemical raw materials and formulations [3] Group 3 - Tianyin Holdings received approval from the China Securities Regulatory Commission for a stock issuance to specific investors [4] - The company is engaged in the sales of smart terminals, e-commerce, lottery, mobile resale, and mobile internet businesses [4] Group 4 - Shanghai Yashi plans to use up to 200 million yuan of temporarily idle raised funds for cash management in high-security, liquid deposit products [5] - The company specializes in supply chain logistics and execution trade [6] Group 5 - Parker New Materials intends to use 130 million yuan of idle raised funds to purchase structured deposits with expected annual yields between 0.59% and 2.9001% [7] - The company focuses on the research, production, and sales of various types of ring forgings, free forgings, and die forgings [7] Group 6 - Huayang New Materials appointed Jing Hongsheng as the new general manager [8] Group 7 - Liyuan Technology's shareholder plans to reduce holdings by up to 2.03% of the company's shares, totaling no more than 3.04 million shares [9] - The company specializes in the research, design, and integration of environmental water treatment systems and hydrogen fuel cell engine systems [9] Group 8 - Shengnuo Biopharmaceutical's subsidiary received approval for the listing application of Visepegenatide raw materials, a GLP-1 receptor agonist for treating type 2 diabetes and obesity [10][11] - The company focuses on the research, production, and sales of peptide raw materials and formulations [10] Group 9 - Puluo Pharmaceutical plans to repurchase shares worth between 180 million and 360 million yuan, with a maximum price of 23 yuan per share [12] - The company specializes in the research, production, and sales of raw material intermediates and innovative drugs [12] Group 10 - Dongfang Electric's subsidiary plans to establish a joint venture with Anhui Waneng Energy, with a registered capital of approximately 1.857 billion yuan [13] - The company is involved in the development, design, manufacturing, and sales of advanced power generation equipment [13] Group 11 - Hefei China announced that its stock will resume trading on November 20 after completing a review of abnormal trading fluctuations [14] - The company focuses on international trade and after-sales services related to in vitro diagnostic medical devices [14] Group 12 - Dafeng Industrial won a bid for the stage equipment project of the Shenzhen International Performing Arts Center, with a contract amount of 165 million yuan [15] - The company specializes in cultural sports equipment, digital art technology, and operation services [15] Group 13 - Baiyunshan's subsidiary received a drug registration certificate for An Gong Niu Huang Wan in Vietnam [16] - The company is engaged in the research, manufacturing, and sales of traditional Chinese and Western medicines [16] Group 14 - Neusoft Group received a notification to supply intelligent cockpit domain controllers for multiple models from a well-known domestic automobile manufacturer, with an estimated total amount of about 4.2 billion yuan [17] - The company focuses on providing industry solutions and software products [17] Group 15 - Huayu Pharmaceutical's product received overseas marketing approval [18] - The company specializes in the research, production, and sales of innovative and high-quality generic drugs in the oncology field [18] Group 16 - Yao Pi Glass received approval from the CSRC for its stock issuance to specific investors [19] - The company specializes in the production and sales of float glass and processed glass [19] Group 17 - Guangyu Yuan's vice president Wang Junbo resigned due to work adjustments [20] - The company focuses on the production and sales of traditional Chinese medicine products [20] Group 18 - Biyi Co. received approval from the CSRC for its stock issuance to specific investors [21] - The company specializes in the design, manufacturing, and sales of smart small household appliances [21] Group 19 - Sunshine Nuohe's application for acquiring 100% equity of Jiangsu Langyan Life Science Technology Co., Ltd. through share issuance and convertible bonds has been accepted by the Shanghai Stock Exchange [22] - The company provides comprehensive drug research and development services for domestic pharmaceutical enterprises and research institutions [22] Group 20 - Longxin General plans to increase capital in its wholly-owned subsidiary by no more than 1.65 billion yuan [23] - The company specializes in the research, production, and sales of motorcycles and engines [23] Group 21 - Jiekang Equipment received a corrective order from the Tianjin Securities Regulatory Bureau due to internal control deficiencies [24] - The company specializes in the research, production, and sales of nuclear biochemical safety equipment [24] Group 22 - Wantong Technology plans to raise no more than 920 million yuan through a private placement to supplement working capital [25] - The company focuses on information technology services for highways and ports [25] Group 23 - Dongshan Precision has submitted an application for H-share listing to the Hong Kong Stock Exchange [26] - The company specializes in the research, production, and sales of electronic circuit products and precision components [26] Group 24 - Yonghe Intelligent Control plans to publicly transfer 100% equity of its wholly-owned subsidiary Kunming Medical Oncology Hospital [27] - The company specializes in water and heating valve fittings, tumor precision radiation therapy, and photovoltaic battery businesses [27] Group 25 - Aok Shares signed a strategic cooperation framework agreement with Suzhou Qitian New Materials Co., Ltd. [28] - The company focuses on the research and production of high-end new materials derived from ethylene oxide and ethylene [28] Group 26 - Hongquan Technology's shareholder plans to reduce holdings by up to 3% of the company's shares, totaling no more than 299,440 shares [29] - The company specializes in the research, production, and sales of intelligent connected products and software platform development [29] Group 27 - Shilong Industrial's controlling shareholder plans to reduce holdings by up to 3% of the company's shares, totaling no more than 7.2 million shares [30] - The company specializes in the research, production, and sales of chemical products [30] Group 28 - Tangrenshen decided to terminate the investment in the "Dongchong Phase III Pig Breeding Base Construction Project," reallocating the remaining funds of 78.9587 million yuan to supplement working capital [31] - The company specializes in the research, production, and sales of feed, pigs, meat products, and animal health products [31] Group 29 - Gaode Infrared's actual controller plans to reduce holdings by up to 3% of the company's shares, totaling no more than 12.8 million shares [32] - The company specializes in infrared focal plane detector chips and infrared thermal imaging systems [32] Group 30 - Kangyuan Pharmaceutical's actual controller recently increased holdings by 20,000 shares [33] - The company specializes in the research, production, and sales of pharmaceuticals [33] Group 31 - Haida Group plans to repurchase shares worth between 1 billion and 1.6 billion yuan, with a maximum price of 62.00 yuan per share [34] - The company provides overall solutions for animal husbandry [34] Group 32 - Qizhong Technology's 850 million yuan convertible bonds have been approved for listing [35] - The company specializes in advanced packaging and testing of integrated circuits [35] Group 33 - Dingyang Technology launched the new SNA5000B series vector network analyzer [36] - The company specializes in the research, production, and sales of general electronic testing and measuring instruments [36] Group 34 - Airo Energy plans to distribute a cash dividend of 0.9375 yuan per share to all shareholders [37] - The company specializes in photovoltaic energy storage systems and products [37] Group 35 - Hechuan Technology's actual controller and some directors plan to reduce holdings by up to 6% of the company's shares [38] - The company specializes in the research, production, and sales of industrial automation products [38] Group 36 - China First Heavy Industries' chairman was arrested for suspected bribery [39] - The company specializes in heavy machinery manufacturing for various industries [39] Group 37 - Lianhuan Pharmaceutical plans to invest 15 million yuan in joint research with Nanjing University for anti-thrombotic small nucleic acid drugs [40] - The company specializes in the manufacturing and sales of chemical raw materials [40] Group 38 - Anxu Biotech's shareholder plans to reduce holdings by up to 0.94% of the company's shares, totaling no more than 120,000 shares [41] - The company specializes in the research, production, and sales of POCT reagents and instruments [41] Group 39 - Yaxiang Integration's shareholder reduced holdings by 130,000 shares [42] - The company specializes in providing cleanroom engineering and related services for high-tech electronic industries [42] Group 40 - Zhongwen Media plans to use up to 9.5 billion yuan of idle funds to purchase financial products [43] - The company specializes in traditional publishing and various new media businesses [43]

决定书指出：公司存在资金管理、合同管理内部控制缺陷，未建立健全财务、会计管理制度。一是2022 年9月至2025年3月公司通过职工个人银行卡代收付相关款项。二是公司于2022年、2023年签订不真实业 务合同并发生资金收支往来(未确认收入、成本)。三是公司个别委外研发合同未按合同约定执行，提前 支付款项。 捷强装备（300875）(300875.SZ)公告，公司近日收到中国证券监督管理委员会天津监管局出具的《关 于对天津捷强动力装备股份有限公司采取责令改正并对潘峰、徐本友、潘淇靖、纪滋强采取出具警示函 措施的决定》。 ...

智通财经APP讯，捷强装备(300875.SZ)公告，公司近日收到中国证券监督管理委员会天津监管局出具的 《关于对天津捷强动力装备股份有限公司采取责令改正并对潘峰、徐本友、潘淇靖、纪滋强采取出具警 示函措施的决定》。 决定书指出：公司存在资金管理、合同管理内部控制缺陷，未建立健全财务、会计管理制度。一是2022 年9月至2025年3月公司通过职工个人银行卡代收付相关款项。二是公司于2022年、2023年签订不真实业 务合同并发生资金收支往来(未确认收入、成本)。三是公司个别委外研发合同未按合同约定执行，提前 支付款项。 ...

捷强装备公告，近日收到天津证监局出具的《关于对天津捷强动力装备股份有限公司采取责令改正并对 潘峰、徐本友、潘淇靖、纪滋强采取出具警示函措施的决定》。经查，公司存在资金管理、合同管理内 部控制缺陷，未建立健全财务、会计管理制度。一是2022年9月至2025年3月公司通过职工个人银行卡代 收付相关款项。二是公司于2022年、2023年签订不真实业务合同并发生资金收支往来（未确认收入、成 本)。三是公司个别委外研发合同未按合同约定执行，提前支付款项。 ...

证券代码：300875 证券简称：捷强装备 公告编号：2025-047 天津捷强动力装备股份有限公司 关于收到天津证监局对公司采取责令改正并对相关人员采 取出具警示函措施的公告 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。 天津捷强动力装备股份有限公司（以下简称"公司"）于近日收到中国证券 监督管理委员会天津监管局（以下简称"天津证监局"）出具的《关于对天津捷 强动力装备股份有限公司采取责令改正并对潘峰、徐本友、潘淇靖、纪滋强采取 出具警示函措施的决定》（津证监措施〔2025〕39 号）（以下简称"《决定书》"）， 现将具体情况公告如下： 一、《决定书》主要内容 天津捷强动力装备股份有限公司，潘峰、徐本友、潘淇靖、纪滋强： 经查，公司存在资金管理、合同管理内部控制缺陷，未建立健全财务、会计 管理制度。一是 2022 年 9 月至 2025 年 3 月公司通过职工个人银行卡代收付相关 款项。二是公司于 2022 年、2023 年签订不真实业务合同并发生资金收支往来（未 确认收入、成本)。三是公司个别委外研发合同未按合同约定执行，提前支付款 项。 公司上述行为违 ...