HIKING(SH:600735) Zhong Guo Zheng Quan Bao - Zhong Zheng Wang·2025-11-08 00:24Core Viewpoint - The stock price of Shandong Xinhua Jin International Co., Ltd. experienced a significant decline, with a cumulative drop of over 12% over three consecutive trading days, indicating abnormal trading fluctuations as per the Shanghai Stock Exchange regulations [2][5]. Group 1: Stock Price Fluctuations - The company's stock price fell by more than 12% cumulatively on November 5, 6, and 7, 2025, which is classified as an abnormal trading fluctuation [2][5]. - The company conducted a self-examination and inquired with its controlling shareholder and actual controller, confirming that there are no undisclosed significant information as of the announcement date [2][6][7]. Group 2: Operational Status - The company reported that its production and operational status is normal, with no significant changes in daily operations [6]. - There are no undisclosed major events, including asset restructuring, share issuance, acquisitions, or other significant business activities [7][10]. Group 3: 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 16.44 million yuan for the first three quarters of 2025, down 60.93% year-on-year [12]. Group 4: Shareholder Risks - 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 [13]. - Judicially frozen shares amount to 676,152, while marked shares total 184,920,000, indicating significant risks related to share pledges and judicial actions [4][14]. Group 5: Regulatory Risks - The company has received an administrative regulatory decision from the Qingdao Securities Regulatory Bureau regarding non-operating fund occupation, with a balance of 406 million yuan. Failure to rectify this within six months may lead to stock suspension and potential delisting [15]. - A planned sale of shares to repay occupied funds has been terminated, and the controlling shareholder is seeking alternative funding solutions [16].