证券代码：002634 证券简称：棒杰股份 公告编号：2026-012 浙江棒杰控股集团股份有限公司 关于公司股票交易可能被实施退市风险警示及其他风险警示的 经浙江棒杰控股集团股份有限公司(以下简称"公司") 财务部门初步测算， 预计公司 2025 年末归属于上市 公司股东的净资产为-90,015.51 万元至 -60,015.51 万元(未经审计)。具体内容详见公司 2026 年 1 月 31 日在巨潮资讯 网（www.cninfo.com.cn）披露的《2025 年度业绩预告》（公告编号：2026-011）。 根据上述规定，在公司《2025 年年度报告》披露后，公司股票交易存在被实施 退市风险警示的可能。 根据《深圳证券交易所股票上市规则》9.3.3 的规定："上市公司预计将出 现本规则第 9.3.1 条第一款第一项至第三项情形的，应当在相应的会计年度结束 后一个月内，披露公司股票交易可能被实施退市风险警示的风险提示公告，并在 披露年度报告前至少再披露两次风险提示公告。" 二、关于公司股票交易可能继续被实施其他风险警示的情况说明 根据《深圳证券交易所股票上市规则（2025 年修订）》第 9.8.1 条第（ ...

Core Viewpoint - The company expects a significant increase in net losses for 2025, projecting a loss of 900 million to 1.2 billion yuan, compared to a loss of 672 million yuan in the previous year [1] Financial Performance - The projected net loss attributable to shareholders for 2025 is between 900 million and 1.2 billion yuan, while the previous year's loss was 672 million yuan [1] - The expected loss after deducting non-recurring items is estimated to be between 780 million and 1.08 billion yuan, compared to a loss of 642 million yuan in the prior year [1] - The basic earnings per share are anticipated to be a loss of 2 to 2.67 yuan per share [1] Equity and Asset Valuation - The company's equity attributable to the parent company is expected to be between -900 million and -600 million yuan at the end of the year, down from 299 million yuan at the end of the previous year [1] - The losses are attributed to the debt and shutdown of the photovoltaic subsidiary, leading to asset impairment and expected losses [1] Risk of Delisting - If the net assets are negative at year-end or if the lower of net profit before and after deductions is negative, the financial report will include a paragraph on going concern uncertainty, which may lead to delisting or other risk warnings for the stock [1]

Financial Performance Expectations - The company expects a net loss of between 90 million and 120 million yuan for the fiscal year 2025, compared to a loss of 67.23 million yuan in the same period last year[4]. - The net profit after deducting non-recurring gains and losses is projected to be a loss of 78 million to 108 million yuan, compared to a loss of 64.15 million yuan in the previous year[4]. - Basic earnings per share are expected to be a loss of 2.00 to 2.67 yuan per share, compared to a loss of 1.48 yuan per share last year[4]. - The company's net assets attributable to shareholders are projected to be between -90.02 million and -60.02 million yuan, down from 29.98 million yuan at the end of the previous year[4]. Reasons for Losses - The primary reason for the losses is the debt pressure and production suspension in the photovoltaic sector, leading to high fixed costs such as equipment depreciation and factory rent[7]. - The company has conducted impairment tests on long-term assets showing signs of impairment and has made provisions for asset impairment according to accounting standards[7]. - The company is currently facing liquidity risks, leading to provisions for expected losses due to overdue debts to suppliers and financial institutions[7]. Restructuring and Risks - The company is undergoing a pre-restructuring process, with uncertainties regarding whether it will enter a formal restructuring procedure[10]. - If the net assets are negative at the end of 2025, the company's stock will be subject to delisting risk warnings as per the Shenzhen Stock Exchange regulations[8]. Financial Reporting - The financial data in the earnings forecast is preliminary and has not been audited, with final figures to be confirmed in the 2025 annual report[8].

Group 1: Company Announcements - Meinian Health plans to participate in the restructuring of Zhejiang Bangjie Holdings, aiming to become the controlling shareholder post-restructuring [1] - Silver Industry's gold and silver product revenues are low, with gold sales contributing 18.67% and silver 4.54% to total revenue in H1 2025 [2] - Tianneng Wind Power has decided to implement long-term production halts for six wholly-owned subsidiaries to optimize resource allocation and focus on core offshore wind power business [3] Group 2: Price and Supply Risks - Tongling Nonferrous Metals reports significant uncertainty in the prices of cathode copper and other main products, with low self-sufficiency in copper concentrate posing supply stability risks [4] - ST Aowei received a notice of termination of listing due to market capitalization falling below 500 million yuan for 20 consecutive trading days [5][6] Group 3: Performance Forecasts - Foton Motor expects a net profit increase of approximately 1551% to around 1.33 billion yuan in 2025, driven by sales growth across various segments [7] - Beimo High-Tech anticipates a net profit of 190 million to 220 million yuan, reflecting a growth of 1076.16% to 1261.87% [8] - Zhongke Sanhuan forecasts a net profit increase of 566.23% to 899.35%, driven by cost control and market expansion [9] - Wancheng Group expects a net profit of 1.23 billion to 1.4 billion yuan, a growth of 222.38% to 266.94% [10] - Wan Yi Technology anticipates a net profit increase of 191.52% to 330.34%, supported by product optimization and cost reduction measures [11] - Nanmo Biology expects a net profit of 24 million to 34 million yuan, a growth of 269.49% to 423.44% [12] - Bai'ao Saitou forecasts a net profit increase of 384.26% to 443.88%, benefiting from overseas market expansion [13] - Hailanxin anticipates a net profit of 40 million to 60 million yuan, a growth of 387.47% to 631.2% [14] - Panzhihua Coal expects a net profit of 318 million to 380 million yuan, a growth of 205.3% to 264.83% [15] - Huaguang New Materials forecasts a net profit increase of 104.67% to 141.88% [16] - Putian Technology expects a net profit of 1.92 million to 2.88 million yuan, a growth of 71.55% to 157.33% [17] - Guoda Special Materials anticipates a net profit increase of 82.61% [18] - Tongkun Co. expects a net profit of 1.95 billion to 2.15 billion yuan, a growth of 62.24% to 78.88% [19] - Yiming Pharmaceutical forecasts a net profit increase of 61.12% to 122.08% [20] - Guosheng Securities expects a net profit of 210 million to 280 million yuan, a growth of 25.44% to 67.25% [21] - Shengyi Technology anticipates a net profit increase of 87% to 98% [22] Group 4: Loss Forecasts - Saifutian expects a loss of 30 million to 45 million yuan, significantly reducing previous losses [23] - Magang Group forecasts a loss of 190 million to 250 million yuan, a substantial reduction in losses [24] - Shennong Seed Industry anticipates a profit of 90 million to 120 million yuan, reversing previous losses [25] - Jifeng Co. expects a profit of 410 million to 495 million yuan, reversing previous losses [26] - Bingchuan Network forecasts a profit of 436 million to 516 million yuan, reversing previous losses [27] - Zhongyou Technology anticipates a profit of 540 million to 640 million yuan, reversing previous losses [28] - Dongfang Biology expects a loss of 523 million yuan [29] - Wantai Biological anticipates a loss of 330 million to 410 million yuan due to market pressures [30] - Anbotong expects a loss of 114 million to 165 million yuan [31] - Shunxin Agriculture forecasts a loss of 116 million to 188 million yuan due to declining sales [32] - Guozhong Water expects a loss of 130 million to 104 million yuan, with potential delisting risks [33] Group 5: Major Contracts - China Communication Signal expects to win 21 major projects worth approximately 5.26 billion yuan [34]

Group 1 - The company held its 17th (temporary) meeting of the 9th Board of Directors on January 29, 2026, to discuss participation in the pre-restructuring of Zhejiang Bangjie Holdings Group Co., Ltd. [2][10] - The company approved a proposal to participate as an interested investor in the public recruitment of restructuring investors for Bangjie Holdings, designating its wholly-owned subsidiary, Meinian Health Industry (Group) Co., Ltd., as the entity to acquire control of Bangjie Holdings post-restructuring [3][10] - The decision was made with unanimous support from all attending board members, and the transaction does not require shareholder approval as it falls within the board's authority [10] Group 2 - The pre-restructuring aims to integrate industry resources and expand business layout, with the company seeking to become the controlling shareholder of Bangjie Holdings after the restructuring [8][25] - Bangjie Holdings was placed under pre-restructuring by the Jinhua Intermediate People's Court on January 5, 2026, with temporary managers appointed to oversee the process [9][14] - The recruitment of restructuring investors aims to bring in entities with industrial synergy and financial strength to support Bangjie Holdings in improving its operational capabilities and resolving its debt crisis [14] Group 3 - Interested investors must meet specific qualifications, including being a legally established entity with good commercial reputation and no significant legal violations in the past three years [15][16] - The recruitment process includes a qualification review, and interested investors are required to pay a registration deposit of 20 million RMB to secure their participation [22][23] - The selection of restructuring investors will be conducted under supervision, and if only one qualified investor applies, they will automatically become the restructuring investor [23][24] Group 4 - The participation in Bangjie Holdings' pre-restructuring is seen as a strategic move for the company to enhance its healthcare ecosystem and improve its core competitiveness and sustainable profitability [25] - The funding for this investment will come from the company's own resources and will not adversely affect its daily operations or financial status [25]

面对每天上千份上市公司公告该看哪些？重大事项公告动辄几十页几百页重点是啥？公告里 一堆专业术语不知道算利好还是利空？请看智通财经公司新闻部《速读公告》栏目，我们派 驻全国的记者们将于公告当晚为您带来准确、快速、专业的解读。 智通财经1月29日讯（记者 陈夏筱）为了拓展业务布局，体检龙头企业美年健康（002044.SZ）计划参 与棒杰股份（002634.SZ）的预重整。 今日晚间，公司发布公告称，公司第九届董事会第十七次会议审议通过了《关于拟参与浙江棒杰控股集 团股份有限公司预重整的议案》，同意公司作为意向投资者参与棒杰股份重整投资人的公开招募，并指 定下属全资子公司美年大健康为重整受让主体取得棒杰股份的控制权，成为棒杰股份重整完成后的控股 股东。 2025年3月1日，棒杰股份扬州工厂宣布全线停工停产，原计划3个月的检修期结束后，工厂再无力复 产。2025年7月，棒杰股份宣布江山光伏项目终止，并向地方政府支付1500万元赔偿款，公司跨界光伏 的努力全面归零。此时，棒杰股份光伏板块逾期债务总额据披露已达9.67亿元。 2025年7月，上海启烁睿行通过受让股份成为公司新控股股东，黄荣耀成为新的实际控制人。 财务数据 ...

Core Viewpoint - Meinian Health (002044.SZ) plans to participate in the pre-restructuring of Bangjie Co., aiming to integrate industry resources and expand its business layout, designating its wholly-owned subsidiary Meinian Health Industry (Group) Co., Ltd. as the entity to gain control of Bangjie Co. after the restructuring [1] Group 1 - The company held its 17th meeting of the 9th Board of Directors to approve the proposal to participate in the pre-restructuring of Zhejiang Bangjie Holdings Group Co., Ltd. [1] - The company will act as an interested investor in the public recruitment of investors for the restructuring of Bangjie Co. [1] - The management is authorized to organize the selection of investors, due diligence, and preparation of the pre-restructuring investment plan [1]

Group 1 - Meinian Health plans to participate in the restructuring of Zhejiang Bangjie Holdings, aiming to become the controlling shareholder after the completion of the restructuring [3] - Baiyin Nonferrous Metals reported that the revenue from gold and silver products accounted for a low proportion of total operating income, with gold sales contributing 18.67% and silver sales 4.54% in the first half of 2025 [4] - Tiens Wind Power decided to implement a long-term production suspension for six wholly-owned subsidiaries to optimize resource allocation and focus on core businesses [5] Group 2 - Tongling Nonferrous Metals indicated significant uncertainty in the price fluctuations of its main products, with a low self-sufficiency rate for copper concentrate posing supply stability risks [6] - *ST Aowei received a notice of termination of listing due to its market capitalization falling below 500 million yuan for twenty consecutive trading days [7] - Foton Motor expects a net profit increase of approximately 1551% year-on-year for 2025, driven by sales growth in new energy vehicles and overseas markets [9] Group 3 - Beimo High-tech anticipates a net profit increase of 1076.16% to 1261.87% for 2025, supported by cost control and reduced credit impairment losses [10] - Zhongke Sanhuan forecasts a net profit growth of 566.23% to 899.35% for 2025, attributed to technological innovation and improved operational efficiency [12] - Wancheng Group expects a net profit increase of 222.38% to 266.94% for 2025, driven by growth in its retail business and improved sales margins [13] Group 4 - Huayi Technology anticipates a net profit increase of 191.52% to 330.34% for 2025, benefiting from product optimization and cost reduction measures [14] - Nanmo Biology expects a net profit growth of 269.49% to 423.44% for 2025, supported by increased revenue in the biopharmaceutical sector and improved cost control [15] - Baiao Saitu forecasts a net profit increase of 384.26% to 443.88% for 2025, driven by expansion in overseas markets and recovery in the domestic biopharmaceutical industry [16] Group 5 - Hailanxin expects a net profit increase of 387.47% to 631.2% for 2025, supported by advancements in technology and increased market share in marine observation [17] - Panjiang Co. anticipates a net profit growth of 205.3% to 264.83% for 2025, driven by increased coal production and reduced costs [18] - Huaguang New Materials expects a net profit increase of 104.67% to 141.88% for 2025, with significant growth in the electronic sector [20] Group 6 - Guo Sheng Securities forecasts a net profit increase of 25.44% to 67.25% for 2025, supported by active capital market participation and growth in various business segments [25] - Shengyi Technology expects a net profit growth of 87% to 98% for 2025, driven by increased sales of copper-clad laminates [26] - Sifutian anticipates a net loss of 30 million to 45 million yuan for 2025, although this represents a significant reduction in losses compared to the previous year [27] Group 7 - Maanshan Steel expects a net loss of 1.9 billion to 2.5 billion yuan for 2025, with a substantial reduction in losses compared to the previous year [28] - Shennong Seed Industry forecasts a net profit of 90 million to 120 million yuan for 2025, marking a turnaround from previous losses [30] - Jifeng Co. anticipates a net profit of 410 million to 495 million yuan for 2025, achieving a turnaround from losses [31]

对此，上述ST赛为相关人士称，从1月8日至26日有两周的时间，时间是充足的。 自2026年1月8日深圳市赛为智能股份有限公司（300044.SZ，下称"ST赛为"或"赛为智能"）宣布将招募重整投资人的消息后，其股价已经从4.31元/股上涨至1 月28日的6.16元/股，涨幅近43%。 1月8日，ST赛为发布公告称，将公开招募重整投资人。这引发市场对其产业资源注入的强烈预期，并推动股价大幅上涨。 Wind数据显示，ST赛为关于公开招募和遴选重整投资人的公告于1月8日17点27分挂网，约定此次招募截止时间为1月26日中午12点。 1月28日，经济观察网记者致电ST赛为年报披露电话询问其招募和遴选重整投资人的问题，ST赛为相关人士回复表示，目前仍未接到法院的通知，以后续公 告为准。 一名ST赛为的债权人向经济观察网记者表示，由于招募重整投资人的时间过短"根本来不及"。该债权人认为，ST赛为此次招募全流程期限过短，剥夺大部 分潜在投资人的参与机会，"要在这么短的时间内完成报名、保证金缴纳、资格审查、尽职调查、投资方案提交等核心环节，难度非常大。"该人士称，其对 于此次招募流程感到不满，已向法院提交投诉函。 经济观察网 ...

Core Viewpoint - The photovoltaic industry is transitioning from assembly-based growth to a focus on technology, cost, and cash flow, leading to challenges in fulfilling expansion project commitments, as evidenced by recent developments involving companies like *ST Muban and Yijing Photovoltaic [1][2]. Group 1: Company Developments - *ST Muban was ordered by the Wuzhou Municipal Government to return a total of 510 million yuan in project financial subsidies and construction support funds, along with a penalty of 51 million yuan, due to delays in project construction [1]. - Yijing Photovoltaic announced that its project in Chuzhou faced potential termination and a demand for the return of 14 million yuan due to construction delays [1]. - Bangjie Co. is undergoing pre-restructuring initiated by a state-owned enterprise, with claims amounting to 326 million yuan due to the company's failure to complete a buyback on time [2]. Group 2: Industry Context - The photovoltaic industry experienced significant growth in 2022, with total output value exceeding 1.4 trillion yuan, a year-on-year increase of over 95%, and production across various segments rising by more than 55% [2]. - Local governments have heavily supported the photovoltaic sector through financial subsidies, tax incentives, and land guarantees, which have facilitated rapid scale production and technological advancements [3]. - However, the rapid expansion has led to issues of overcapacity and risks associated with companies lacking relevant industry experience, as seen with *ST Muban and Bangjie Co., which both transitioned from unrelated sectors [4]. Group 3: Recommendations for Future Development - Experts suggest that local governments should shift from "universal subsidies" to "innovation incentives," focusing resources on advanced technologies and mature smart manufacturing enterprises [5]. - There is a call for a transition from "administrative intervention" to "market guidance" to create a fair competitive environment and eliminate local protectionism [5]. - The central government plans to address issues of excessive local incentives in investment attraction by establishing clear guidelines for permissible and prohibited practices [6].