□四川日报全媒体记者 彭瑀珩 11月28日晚，记者获悉，四川上市公司峨眉山旅游股份有限公司（峨眉山A）公告开展股东回馈 活动，活动期间，持有"峨眉山A"股票500股及以上的个人股东和法人股东代表可享受景区门票、 索道、免费泡温泉等福利，引发市场和广大股民关注。 记者初步统计，今年以来，已有30余家上市公司通过赠送核心产品、折扣券、文旅权益等形式与 投资者互动。 文旅影视企业主推场景化福利。浙江金华的横店影视推出"2025股东回馈"活动，向持股500股以上 的股东赠送观影券、旅游门票及会员卡优惠；安徽的黄山旅游推出股东专属福利，提供旗下景区 免票及餐饮、文创折扣；浙江杭州的宋城演艺主打沉浸式体验，邀请股东免费观看演出并走进后 台，近距离感受品牌魅力。 消费制造企业偏向以实物馈赠传递品牌温度。湖南的水羊集团按持股数分级送福利，持股5000股 以上即可获赠相关美妆产品礼盒；辽宁的盖世食品在夏季推出"消暑礼盒"，在回馈股东的同时又 征集产品改进建议。此外，新疆汇嘉时代向股东赠送自有品牌有机食用油、北京全聚德向股东发 放自营商品折扣券、浙江嘉兴五芳斋也于今年端午期间向股东赠送粽子礼盒…… 记者梳理发现，资本市场"宠股东 ...

证券日报网讯12月1日，珍宝岛（603567）在互动平台回答投资者提问时表示，公司高度重视和关注公 司价值及股东利益，将持续聚焦主业，优化经营管理，积极探索更多的发展机会，同时通过增强信息披 露透明度、持续加强与各市场主体的沟通交流等方式积极开展市值管理工作，传递经营理念和投资价 值，更好地实现公司的长远发展和股东回报。关于股份回购或增持计划，公司将结合市场环境、资金状 况及监管要求统筹考量，如有具体计划将按规定及时披露。 ...

Core Viewpoint - Lianhua Holdings emphasizes the importance of market value management and has implemented measures such as share buybacks and equity incentives to enhance its long-term investment value [2]. Group 1 - The company held a board meeting on August 28, 2025, to approve a proposal regarding its market value management system [2]. - Lianhua Holdings has been actively strengthening its market value management since its listing [2]. - The company plans to continue solidifying its main business and optimizing development quality to improve long-term investment value [2].

（编辑 丛可心） 证券日报网讯 12月1日，四会富仕在互动平台回答投资者提问时表示，公司始终高度重视市值表现，致 力于推动市值的合理增长。通过持续推动产品结构升级，积极拓展下游应用领域，以不断提升的经营业 绩和核心竞争力增厚公司的内生价值，支撑市值的健康增长，从而更好地回馈投资者的信任与支持。 ...

Core Viewpoint - The company emphasizes that its stock price fluctuations are influenced by various factors, including market conditions and investor preferences, and it is committed to enhancing its market performance through strategic initiatives [1] Group 1: Company Strategy and Management - The company management places high importance on market value management, integrating it into the performance assessment system [1] - The company will continue to focus on its core business, improving operational efficiency and profitability [1] - The company is advancing its "12256" strategy to enhance overall value and market performance [1] Group 2: Governance and Disclosure - The company adheres strictly to the disclosure requirements of the stock exchange, confirming that there are no undisclosed matters related to shareholding changes [1] - The controlling shareholder's ownership ratio remains stable, and the board of directors holds a majority of seats, ensuring stable governance at both the shareholder meeting and board levels [1]

（文章来源：证券日报） 证券日报网讯 12月1日，万安科技在互动平台回答投资者提问时表示，公司高度重视市值管理工作，以 公司长期健康发展为目标。 ...

这意味着，公司已制定了市值管理的相关制度。然而，从具体举措来看，2024年以来，公司既没有实施 回购，也未发布回购预案。2024年以来，公司重要股东也未实施过增持，截至当前，公司未发布增持计 划。分红方面，2024年，公司分红总额11.15亿元，较上一年下降超55%。 从市场表现来看，2024年，华阳股份股价跌幅超过20%，跌幅位居申万二级煤炭开采行业前列；2024年 初至2025年11月末，其股价累计跌幅仍超过10%，两者均大幅跑输申万二级煤炭开采行业指数。 从投资者关系互动平台信息来看，以公司对投资者提问作出回复的互动信息，按照提问日期来看，2025 年，公司平均回复天数（回复日-提问日）超过30天。 今年以来，投资者关于公司的市场表现关注度较高，但多条互动信息的回复日较提问日已过去近半年。 比如，今年5月20日，有投资者提问："持续的股价低迷，不仅严重打击了投资者的信心，对公司的品牌 形象也造成极大负面影响。公司如今是否还存有锐意进取的决心？后续打算推行哪些改革措施来提升公 司市值?"公司直到11月初才进行回复，并表示积极推进各项措施的落地。 最新披露的杠杆资金数据显示，上周五（2025年11月28日） ...

Core Viewpoint - The company held a successful Q3 earnings briefing, engaging with investors and addressing their concerns about stock performance and future prospects [1] Group 1: Company Performance - The company reported a significant improvement in Q3 performance, attributed to efforts in enhancing operational quality and focusing on core business areas [8][9] - The company aims to leverage opportunities in urban pipeline renovation and water conservancy projects to boost profitability [3][9] Group 2: Investor Relations - The company acknowledges investor concerns regarding stock price performance, which has diverged from operational results, and emphasizes the importance of effective communication and transparency [2][4] - The management is committed to improving information disclosure practices to enhance investor confidence and understanding of the company's developments [4][10] Group 3: Market Conditions - The company faces challenges from intense price competition in the ductile iron pipe market, which has impacted profit margins [9][10] - The management recognizes that stock price fluctuations are influenced by macroeconomic conditions, industry cycles, and market sentiment [12][14] Group 4: Future Outlook - The company is optimistic about future growth, focusing on technological innovation and market expansion to enhance its competitive position [6][8] - The management plans to continue monitoring policy developments and market trends to capitalize on emerging opportunities [9][10]

Core Viewpoint - Emei Mountain A (000888.SZ) announced a shareholder reward program from December 1, 2025, to January 31, 2026, offering free admission and discounts to shareholders, which led to a significant stock price increase of 10.02% on the first trading day after the announcement [1][10]. Group 1: Shareholder Reward Program - The company will provide free admission to the Emei Mountain scenic area and free rides on the Wanyan cableway for individual shareholders holding more than 500 shares, along with various discounts for their accompanying family members [1][8]. - Additional benefits include hotel discounts, free hot spring access, and discounts on tea and cultural products, with hotel discounts starting as low as 20% [8][9]. - The adult ticket price for the scenic area is 160 yuan, and the cableway ticket ranges from 45 to 60 yuan [8]. Group 2: Market Impact and Analysis - The initiative is seen as an innovative approach to market value management, enhancing shareholder engagement and potentially attracting new investors [1][10]. - The company aims to deepen the concept of sharing development results with shareholders, allowing them to experience the core cultural and ecological resources of Emei Mountain [9]. - Analysts believe that the program could increase visitor numbers by reducing travel costs for shareholders and encouraging them to bring friends and family, thereby enhancing brand visibility and overall visitor traffic [10][11]. Group 3: Industry Context - Since the release of the CSRC's guidelines on market value management in November 2024, many listed companies have initiated similar shareholder reward programs, focusing on enhancing investor returns through various methods [2][12]. - Other companies have also adopted creative reward strategies, including offering free tickets and discounts on various services, indicating a broader trend in the industry towards innovative shareholder engagement [12][13].

Group 1 - The core phenomenon observed in 2025 is the contradiction in central enterprise stocks, where despite significant profits, stock prices continue to decline, leading to a situation where retail investors are trapped in losses after attempting to buy at low valuations [1][2] - The China Central Enterprises Index has seen a cumulative decline of 7.3% since the beginning of 2025, with 32 central enterprises with market capitalizations over 50 billion yuan hitting three-year lows, and 17 of these stocks trading below their net asset value [1][2] - Retail investors, numbering 214,000, have flocked to these undervalued central enterprise stocks, but over 70% are facing losses exceeding 15%, indicating a misjudgment in the market's valuation logic [1][3] Group 2 - The earnings of major central enterprises remain strong, with the top nine construction central enterprises accounting for 83.45% of the revenue and 83.99% of the net profit in the construction sector, yet their stock prices do not reflect this profitability [1][6] - For instance, China State Construction's stock price is around 4.8 yuan with a price-to-earnings ratio of only 5, while China Energy Engineering, despite a projected net profit exceeding 6 billion yuan, trades at just 2.46 yuan [2][6] - The disparity between stable earnings and declining stock prices has led to confusion among retail investors, who mistakenly interpret low valuations as buying opportunities [2][3] Group 3 - Retail investors have misjudged the valuation logic of central enterprise stocks, focusing solely on static valuations without considering industry cycles, which have shown a decline in fixed asset investment and new contracts in the construction sector [3][4] - Many investors believe in the safety of central enterprises, overlooking liquidity risks, as numerous smaller central enterprise stocks have low trading volumes, making it difficult for investors to sell their shares [4][5] - The government has introduced policies aimed at improving the valuation of central enterprises, including measures for stock buybacks and increased cash dividends, but the market's response has been slow [5][7] Group 4 - Key signals for identifying potential bottoming in central enterprise stocks include the need for earnings growth to align with industry recovery, as well as sustained buying from institutional investors [8][9] - The proactive management of market capitalization by central enterprises, such as optimizing resource allocation and focusing on strategic emerging industries, is crucial for driving stock price increases [9] - The lesson from the 214,000 retail investors trapped in losses is that low valuations do not guarantee safety; a lack of earnings growth, capital interest, and effective policy implementation can lead to further declines [8][9]