Core Viewpoint - Jingxue Energy (301010.SZ) has not yet engaged in liquid cooling technology business but is considering potential cooperation or investment opportunities in the data center and liquid cooling industry based on its business strengths and market demand [1] Group 1 - The company currently does not have any operations related to liquid cooling technology [1] - Future evaluations will focus on potential collaboration or investment opportunities within the data center and liquid cooling supply chain [1] - The company emphasizes a cautious approach in assessing whether to enter the liquid cooling sector [1]

Core Viewpoint - Jingxue Energy (301010.SZ) has not yet engaged in liquid cooling technology business but is considering potential cooperation or investment opportunities in the data center and liquid cooling industry based on its business strengths and market demand [1] Group 1 - The company currently does not have any operations related to liquid cooling technology [1] - Future evaluations will focus on potential collaboration or investment opportunities in the data center and liquid cooling supply chain [1] - The company will assess whether to enter the liquid cooling sector with caution [1]

Core Viewpoint - The company has not yet engaged in liquid cooling technology but is considering potential collaboration or investment opportunities in the data center and liquid cooling industry based on its business strengths and market demand [1] Group 1 - The company stated that it has not initiated any business related to liquid cooling technology [1] - The company plans to actively assess potential collaboration or investment opportunities in the data center and liquid cooling supply chain in the future [1] - The company will carefully evaluate whether to enter the liquid cooling sector [1]

Core Insights - The latest financing balance of the ChiNext market is 539.282 billion yuan, with a week-on-week increase of 2.667 billion yuan, indicating a positive trend in financing activities [1][2] - A total of 28 stocks saw their financing balances increase by over 10%, while 48 stocks experienced a decline of more than 5% [1][3] Financing Balance Overview - The total margin balance for ChiNext stocks reached 541.163 billion yuan, marking an increase of 2.683 billion yuan over the previous trading day, continuing a four-day upward trend [1] - The financing balance specifically increased to 539.282 billion yuan, with a week-on-week rise of 2.667 billion yuan, also reflecting four consecutive days of growth [1][3] Stocks with Significant Financing Balance Increases - The stock with the highest increase in financing balance is Jiangxin Home, which saw a 42.54% rise to 23.7837 million yuan, with a corresponding price increase of 3.36% [3] - Other notable stocks with significant increases include Feili Hua (29.83% increase) and Boying Special Welding (26.10% increase) [3][4] - On average, stocks with over 10% increase in financing balance rose by 2.54% on the same day, with top performers including Xiaocheng Technology (13.66% increase) and Boying Special Welding (10.74% increase) [1][3] Stocks with Decreased Financing Balances - A total of 492 stocks experienced a decrease in financing balance, with 48 stocks declining by more than 5% [4] - The stock with the largest decrease is Tongxing Technology, which saw a 16.93% drop to 11.5867 million yuan [4] - Other significant declines were noted in Jingxue Energy (15.62% decrease) and Huanle Home (15.48% decrease) [4][5] Capital Flow Analysis - Among the stocks with increased financing balances, 17 stocks saw net inflows of main funds, with Feili Hua leading at 338 million yuan [2] - Conversely, 11 stocks experienced net outflows, with Nanshan Zhishang facing the largest outflow of 82.0863 million yuan [2]

Core Insights - The latest financing balance of the ChiNext market is 539.282 billion yuan, with a week-on-week increase of 2.667 billion yuan, indicating a positive trend in financing activities [1][2] - A total of 28 stocks saw their financing balances increase by over 10%, while 48 stocks experienced a decline of more than 5% [1][4] Financing Balance Overview - The total margin balance for ChiNext stocks reached 541.163 billion yuan, marking an increase of 2.683 billion yuan over the previous trading day, continuing a four-day upward trend [1] - The financing balance specifically rose to 539.282 billion yuan, with a week-on-week increase of 2.667 billion yuan, also reflecting a four-day increase [1] - The margin trading balance for short selling (融券余额) was 1.881 billion yuan, with a week-on-week increase of 16.42 million yuan [1] Stocks with Significant Financing Balance Increases - The stock with the highest increase in financing balance is Jiangxin Home (匠心家居), which saw a 42.54% increase, bringing its latest financing balance to 23.7837 million yuan, while its stock price rose by 3.36% [3] - Other notable stocks with significant increases include Feili Hua (菲利华) with a 29.83% increase and a financing balance of 2224.5776 million yuan, and Boying Special Welding (博盈特焊) with a 26.10% increase [3][4] - On average, stocks with over 10% increase in financing balance rose by 2.54% on the same day, with top performers including Xiaocheng Technology (晓程科技) at 13.66% [1][3] Stocks with Significant Financing Balance Decreases - A total of 492 stocks experienced a decrease in financing balance, with 48 stocks declining by more than 5% [4] - The stock with the largest decrease is Tongxing Technology (同星科技), which saw a 16.93% drop in financing balance, bringing it to 11.5867 million yuan [4][5] - Other significant decliners include Jingxue Energy (晶雪节能) and Huanle Home (欢乐家), with decreases of 15.62% and 15.48% respectively [4][5]

Core Viewpoint - The renovation and building materials sector experienced a slight decline, closing at 16,425.40 points with a drop of 0.06% [1] Industry Performance - From the beginning of the year to December 2, the construction decoration index increased by 6.8% [1] - The renovation and decoration service sub-sector led the gains with an increase of 30.6% [1] Stock Performance - Jingxue Energy closed at 25.42 CNY per share, down 5.96%, leading the decline in the renovation and building materials stocks [1] - *ST Yazhen closed at 38.81 CNY per share, down 4.99%, ranking second in the decline [1] - Youbang Ceiling closed at 28.49 CNY per share, down 3.62%, ranking third in the decline [1] - Zhongyuan Home closed at 19.70 CNY per share, up 9.99%, leading the gains in the sector [1] - Xilinmen closed at 23.07 CNY per share, up 5.63%, ranking second in the gains [1] - Shangpin Home Delivery closed at 14.86 CNY per share, up 5.46%, ranking third in the gains [1] Urban Renewal - The funding sources for urban renewal include central government funds, local special bonds, loans from financial institutions, and social capital, providing strong momentum for urban renewal development [1] - A total of 25,000 old urban residential communities are planned to be renovated by 2025, with 21,700 already started from January to August, achieving 86.8% of the annual target [1] - There is significant potential for construction companies in urban renewal and maintenance fields [1]

Market Overview - The renovation and building materials sector increased by 0.94% compared to the previous trading day, with Jingxue Energy leading the gains [1] - The Shanghai Composite Index closed at 3914.01, up 0.65%, while the Shenzhen Component Index closed at 13146.72, up 1.25% [1] Stock Performance - Jingxue Energy (301010) closed at 26.04, up 10.15% with a trading volume of 120,100 shares and a transaction value of 301 million [1] - Dongfang Nanhong (002271) closed at 13.18, up 5.27% with a trading volume of 757,200 shares [1] - Sankeshu (603737) closed at 45.78, up 3.57% with a trading volume of 44,300 shares [1] - Other notable performers include Kexin New Materials (920580) up 3.40% and Weixing New Materials (002372) up 2.25% [1] Capital Flow - The renovation and building materials sector experienced a net outflow of 26.66 million from institutional investors, while retail investors saw a net outflow of 93.06 million [2] - Conversely, speculative funds recorded a net inflow of 120 million [2] Individual Stock Capital Flow - Wanlishi (002785) had a net inflow of 37.92 million from institutional investors but a net outflow of 47.10 million from retail investors [3] - Jingxue Energy (301010) saw a net inflow of 31.30 million from institutional investors and a net outflow of 38.75 million from retail investors [3] - Dongfang Yuhong (002271) had a net inflow of 30.78 million from institutional investors but a net outflow of 4.61 million from retail investors [3]

Core Viewpoint - On November 21, Jingxue Energy experienced a decline of 5.37% with a trading volume of 175 million yuan, indicating a challenging market environment for the company [1]. Financing and Trading Data - On November 21, Jingxue Energy had a financing buy-in amount of 11.95 million yuan and a financing repayment of 17.40 million yuan, resulting in a net financing buy of -5.46 million yuan [1]. - As of November 21, the total financing and securities balance for Jingxue Energy was 99.59 million yuan, which accounts for 4.05% of its circulating market value, indicating a high level compared to the past year [1]. - The company had no short selling activity on November 21, with a short selling balance of 0 yuan, also reflecting a high level compared to the past year [1]. Company Overview - Jiangsu Jingxue Energy Technology Co., Ltd. was established on February 27, 1993, and went public on June 18, 2021. The company specializes in the research, design, production, and sales of energy-saving insulation materials for cold storage and industrial building enclosure systems [1]. - The main revenue sources for Jingxue Energy include metal-faced energy-saving insulation sandwich panels (89.88%), cold storage doors and industrial building doors (8.24%), platforms and others (1.57%), and other supplementary products (0.31%) [1]. Financial Performance - For the period from January to September 2025, Jingxue Energy reported an operating income of 461 million yuan, a year-on-year decrease of 18.01%, and a net profit attributable to shareholders of 10.16 million yuan, down 45.02% year-on-year [2]. - As of September 30, 2025, the number of shareholders for Jingxue Energy was 7,087, a decrease of 26.86% from the previous period, while the average circulating shares per person increased by 36.72% to 15,239 shares [2]. Dividend and Institutional Holdings - Since its A-share listing, Jingxue Energy has distributed a total of 75.60 million yuan in dividends, with 54.00 million yuan distributed over the past three years [3]. - As of September 30, 2025, among the top ten circulating shareholders, Nuoan Multi-Strategy Mixed A (320016) ranked as the sixth largest shareholder with 826,600 shares, an increase of 214,100 shares from the previous period. New institutional shareholders include CITIC Prudential Multi-Strategy Mixed (LOF) A (165531) and Zhongjia Specialized and New Quantitative Stock Selection Mixed Initiated A (021990) [3].

Core Viewpoint - The company, Jingxue Energy (301010.SZ), is actively involved in the construction of infrastructure for the ice and snow industry, contributing to the development of ski resorts in Changchun and Suzhou [1] Group 1 - The company is engaged in the ice and snow industry, focusing on infrastructure development [1] - Jingxue Energy has played a significant role in the construction of ski resorts in Changchun and Suzhou [1]

Core Viewpoint - The company is involved in the construction of infrastructure for the ice and snow industry, specifically contributing to ski resorts in Changchun and Suzhou [1] Group 1 - The company has business operations related to the ice and snow economy [1] - The company encourages investors to refer to regular reports and announcements for more detailed information [1] - The company expresses gratitude for investor interest [1]