HIKING(SH:600735) Shang Hai Zheng Quan Bao·2025-09-17 20:59Core Viewpoint - The stock price of Shandong Xinhua Jin International Co., Ltd. experienced an abnormal fluctuation, with a cumulative closing price increase of over 20% over three consecutive trading days from September 15 to September 17, 2025, which is classified as an abnormal trading situation according to the Shanghai Stock Exchange rules [2][4]. Group 1: Stock Trading Abnormality - The company's stock price increased significantly, with a cumulative closing price increase exceeding 20% over three consecutive trading days [2][4]. - The company conducted a self-examination and inquired with its controlling shareholder and actual controller, confirming that there is no undisclosed significant information as of the announcement date [2][5][6]. Group 2: Company Operations - The company reported that its production and operational conditions are normal, with no significant changes in daily operations [5]. - There are no undisclosed major events, including asset restructuring, share issuance, or significant business cooperation, as confirmed by the company and its controlling shareholders [6]. Group 3: Market Sentiment and Risks - There are media reports and market rumors related to the company's non-operational fund occupation by related parties, urging investors to make cautious judgments and rational investments [7]. - The company’s stock has a high turnover rate of 29.05% during the abnormal trading period, indicating potential trading risks in the secondary market [8]. Group 4: Financial Performance - The company reported a net profit attributable to shareholders of -133.78 million yuan for 2024, a decrease of 354.59% compared to 2023, and a net profit of 12.87 million yuan for the first half of 2025, down 39.45% year-on-year [9]. Group 5: Shareholder Risks - As of the announcement date, the controlling shareholder and its concerted actors hold a total of 185,596,152 shares, accounting for 43.28% of the total shares, with 184,920,000 shares pledged, representing 99.64% of their holdings [10]. - A significant portion of the controlling shareholder's shares is subject to judicial freezing and marking, with 612,352 shares frozen and 184,920,000 shares marked, totaling 99.97% of their holdings [11]. Group 6: Regulatory Risks - The company has received an administrative regulatory decision from the Qingdao Securities Regulatory Bureau regarding the non-operational occupation of funds, with a balance of 406 million yuan. Failure to recover these funds within one month may lead to risk warnings for the stock [12].