Core Points - After a three-day trading suspension for verification, Dongyi Risheng Home Decoration Group Co., Ltd. (*ST Dongyi) resumed trading on November 19, achieving a limit-up and marking 24 limit-ups in 29 trading days, with the stock price rising from 5.17 CNY per share on September 26 to 18.54 CNY per share, an increase of 258.61% [1] - The stock price increased by 241.59% from the announcement of the restructuring investor selection results on September 26 to November 13 [2] Company Overview - *ST Dongyi is the first listed company in the home decoration sector in A-shares, known as the "first stock in home decoration," but has faced operational difficulties in recent years [5] - In October 2024, the Beijing First Intermediate People's Court decided to initiate pre-restructuring for the company [5] - The company selected Beijing Huazhu Technology Co., Ltd. as the industrial investor, signing a restructuring investment agreement in March, with a total investment of 345 million CNY for a 15.77% stake at a price of 2.30 CNY per share [5] - Financial investors, including Yunnan International Trust Co., Ltd. and others, will invest a total of 1.067 billion CNY for a total holding of 28.0499%, with shares priced at 4 CNY each [5] Future Plans - After the restructuring is completed, *ST Dongyi will continue to focus on its core home decoration business and upgrade its digital home decoration services [6] - The industrial investor will provide additional resources to help *ST Dongyi expand its integrated service business and operational services in the computing power center [6] Financial Performance - The company is currently in a loss-making state, with a revenue of 1.296 billion CNY and a net profit attributable to shareholders of -1.171 billion CNY for 2024 [6] - For the period from January to September 2025, the company reported a revenue of 540 million CNY and a net profit of -58.26 million CNY [6]

*ST聆达公告称，2025年11月18日，公司及子公司金寨嘉悦收到六安中院裁定，受理债权人对二者的重 整申请并协调审理，指定聆达股份清算组担任管理人，负责人为刘瀚宇。因公司2024年扣非净利润为负 且营收低于1亿元、期末净资产为负，股票于2025年4月25日起被实施退市风险警示，11月19日开市将叠 加实施该警示，无需停牌，简称、代码、涨跌幅不变。公司已与重整投资人签协议，但仍存重整失败、 股票终止上市风险。 ...

Core Points - The voting period for the restructuring plan of 38 companies under Suning Electric Group has been postponed to December 14 [1] - Suning's companies are facing over 230 billion yuan in debt, with asset liquidation value reduced by more than half to only 41 billion yuan, indicating insolvency [1] - All external shareholder rights will be transferred without compensation, and after restructuring, 100% of the equity will be injected into a trust plan, prioritizing creditor interests [1] Summary by Sections - **Debt and Asset Status** - Suning's companies have debts exceeding 230 billion yuan and their asset liquidation value has decreased to 41 billion yuan, indicating they are insolvent [1] - **Shareholder Rights and Restructuring** - External shareholders will have their rights transferred without compensation, and they will only receive subordinate trust shares based on their paid-in capital [1] - The restructuring plan eliminates the internal contributor group, with an external contributor group consisting of 13 registered external shareholders [1] - **Impact on Original Shareholders** - Original shareholders, including Zhang Jindong, will see their equity rights in these 38 companies legally adjusted to zero, receiving subordinate trust shares as compensation based on their paid-in amounts [1]

Core Viewpoint - The voting period for the restructuring plan of Suning Electric Group and 38 affiliated companies has been postponed to December 14 [1] Group 1: Restructuring Plan - The restructuring draft indicates that the original actual controller and their spouse, Liu Yuping, provided guarantees for the debts of the 38 companies [1] - After the issuance of a letter of commitment and approval of the restructuring plan, creditors will suspend claims against the original actual controller and their spouse [1] - One of the conditions for the suspension of claims is that the original actual controller, Zhang Jindong, and his spouse, Liu Yuping, must commit to injecting all their personal assets into a trust plan within three months of its establishment and sign the trust documents [1]

Core Viewpoint - *ST Zhanggu has signed a restructuring investment agreement with eight investors, including three A-share companies: Electric Broad Media, Mango Super Media, and Caesar Travel, to facilitate its restructuring process amid debt issues [1][3]. Group 1: Restructuring Agreement - The restructuring investment agreement was signed on November 13, involving multiple investors, including Electric Broad Media, Mango Cultural Tourism Investment, and Caesar Travel [3]. - The agreement aims to leverage *ST Zhanggu's local advantages, particularly focusing on the Dayong Ancient City project, to enhance its operational capabilities [4]. Group 2: Investment and Collaboration - Electric Broad Media, Mango Cultural Tourism, and Mango Super Media plan to revitalize the Dayong Ancient City project through business restructuring, brand upgrades, and professional management, aiming to transform it into a hub for Mango's media productions and a vibrant tourist destination [4]. - *ST Zhanggu and Electric Broad Media, along with Mango Cultural Tourism, will explore mergers, acquisitions, and investments to develop other quality cultural tourism resources in Zhangjiajie [5]. Group 3: Financial Performance and Background - *ST Zhanggu has faced significant financial challenges, with net profits of -2.60 billion yuan in 2022, -2.39 billion yuan in 2023, and -582 million yuan in the first three quarters of 2025 [6]. - The company was established in December 1992 and listed on the Shenzhen Stock Exchange in August 1996, primarily engaged in tourism resource development and related services [6].

【导读】*ST张股确定部分重整投资人，包含电广传媒、芒果超媒、凯撒旅业 中国基金报记者邱德坤 11月14日晚间，*ST张股发布公告称，公司、管理人已与8名重整投资人签订了《重整投资协议》，包含电广传媒、芒果超媒、 凯撒旅业等3家A股公司。 *ST张股是张家界市属国有控股的旅游类上市公司，被誉为"山水旅游第一股"，但当前因债务问题进入重整程序，将在重整中 实施资本公积转增股本。 此次《重整投资协议》的签署，是推动*ST张股进行重整的必要环节。11月14日收盘，*ST张股股价报9.62元/股，跌幅达 1.84%，总市值为38.94亿元。 涉及3家A股公司 多项产业协同方案披露 公告显示，11月13日，*ST张股、管理人与电广传媒、湖南芒果文旅投资有限公司（以下简称芒果文旅）、芒果超媒、凯撒旅 业、广州凯撒海纳投资合伙企业（有限合伙）、张家界产业投资（控股）有限公司（以下简称张家界产投）、共青城吉富清园 投资合伙企业（有限合伙）、深圳市达晨财智创业投资管理有限公司等部分重整投资人签署《重整投资协议》。 上述重整投资人包含A股公司电广传媒、芒果超媒、凯撒旅业，以及电广传媒全资子公司芒果文旅、凯撒旅业关联方广州凯撒 海 ...

Core Viewpoint - Chongqing Sansheng Industrial Co., Ltd. is undergoing a restructuring process after the Chongqing Fifth Intermediate People's Court accepted its application for reorganization, which may impact its stock trading status due to risk warnings [1][2]. Group 1: Restructuring Process - The second creditors' meeting is scheduled for November 14, 2025, to discuss the management report and the draft reorganization plan [2][3]. - The management will present a report on the execution of duties since the first creditors' meeting and the status of debt claims [2][3]. - The meeting will include discussions on the draft reorganization plan and allow creditors to ask questions [2]. Group 2: Debt Verification - Following the first creditors' meeting, the management has continued to verify claims, resulting in a preliminary confirmation of debts totaling 182 million yuan, including secured and unsecured claims [5]. - There are 31 confirmed claims amounting to 182 million yuan, with 8.1 million yuan in secured claims and 101 million yuan in unsecured claims [5]. - A total of 45 claims amounting to 47 million yuan were either reduced or not confirmed [5]. Group 3: Voting and Decision-Making - The creditors' meeting will utilize both offline and online voting methods for the draft reorganization plan, with a voting deadline set for November 17, 2025 [7]. - The meeting will be structured into groups for secured and unsecured creditors to facilitate the voting process [7]. - The management will compile the voting results and notify the company accordingly [7]. Group 4: Legal Compliance - The company has ensured that the meeting's procedures comply with relevant laws and regulations, including the Company Law and Bankruptcy Law [16][23]. - Legal opinions confirm that the meeting's organization and voting processes are valid and in accordance with legal requirements [23].

登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：603398 证券简称：*ST沐邦（维权） 公告编号：2025-139 江西沐邦高科股份有限公司 关于公司被债权人申请重整的 提示性公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容 的真实性、准确性和完整性承担法律责任。 重要内容提示: ● 江西沐邦高科股份有限公司（以下简称"公司"）于近日收到江西省南昌市中级人民法院（以下简 称"南昌中院"或"法院"）下发的《通知书》，债权人南昌市龙保泰供应链管理有限公司（以下简称"龙 保泰"）以公司不能清偿到期债务且明显缺乏清偿能力为由，向南昌中院申请对公司进行重整及预重 整。 ● 公司尚未完成非经营性资金占用清偿整改，能否进入重整程序存在重大不确定性。2025年7月，公司 收到江西证监局行政监管措施决定书查明，截至2025年6月末，公司控股股东、其他关联方非经营性资 金占用余额分别为4,845.59万元、3,526.25万元。截至目前，前述非经营性资金占用事项仍未处置完毕。 依据《关于切实审理好上市公司破产重整案件工作座谈会纪要》等相关规定，控股股东、实际控制人及 ...

Core Viewpoint - The company *ST Muban is facing a restructuring application due to its inability to repay debts and a significant lack of repayment capacity, as claimed by creditor Long Baotai [1] Financial Performance - For the period of January to September 2025, the company reported a revenue of 226.82 million yuan and a net loss of 355.72 million yuan [1] - The company has not completed the rectification of non-operating fund occupation repayment [1] Legal and Regulatory Issues - The creditor has filed for restructuring with the Nanchang Intermediate People's Court, citing a principal debt of 5.76 million yuan [1] - If the court accepts the restructuring application, the company's stock will be subject to additional delisting risk warnings, with a potential for termination of listing [1] - Both the company and its actual controller, Liao Zhiyuan, are currently under investigation [1] Shareholder Actions - Relevant personnel have no plans to reduce their holdings in the next six months [1]

出品：新浪财经上市公司研究院 文/夏虫工作室 核心观点：*ST长药（维权）涉嫌造假问题究竟出在哪？公司当年收购长江星究竟有无猫腻？需要指出 的是，公司近年业绩暴涨暴跌背后重组标的长江星出现欠税问题；与此同时，长江星出现控股股东客户 及大量个人采购现象，且毛利率异于同行等情形。随着*ST长药遭立案调查，退市风险进一步加剧，其 重整程序反复延迟，*ST长药重整又是否存变数。 近日，*ST长药因涉嫌定期报告等财务数据虚假记载，遭监管立案调查。 颇为值得关注的是，公司同时提醒不排除出现退市风险。若后续经中国证监会行政处罚认定的事实，触 及《深圳证券交易所创业板股票上市规则（2025年修订）》规定的重大违法强制退市情形，公司股票将 被实施重大违法强制退市。 需要指出的是，*ST长药已经启动重整。随着公司遭遇立案调查后，公司未来重整能否顺利推进或存在 较大不确定性。 造假风险或早有信号？重整被反复延期 *ST长药主要从事中药饮片生产销售，以及药品、保健品和医疗器械批发等业务。 因公司资产不能清偿全部到期债务且明显缺乏清偿能力，今年1月20日，十堰中院决定对*ST长药启动 预重整。 3月10日，十堰中院裁定子公司湖北长江星 ...