Core Viewpoint - *ST Changyao has completed the recruitment and selection of restructuring investors and is awaiting approval from the CSRC and the Supreme Court to enter the formal restructuring phase [1][2] Group 1: Stock Performance - As of June 13, 2025, *ST Changyao closed at 4.51 yuan, up 3.44% from the previous week's 4.36 yuan [1] - The stock reached a weekly high of 4.72 yuan on June 12 and a low of 4.38 yuan on June 9 [1] - The current total market capitalization is 1.58 billion yuan, ranking 67th in the traditional Chinese medicine sector and 5075th in the A-share market [1] Group 2: Restructuring Progress - The restructuring investment agreements have been signed with several investors, including Jia Dao Bo Wen and Hao Wei Biological, as well as financial investors such as Da Han Fund and others [1] - The final restructuring plan has not yet been determined, and the conversion date will be based on the restructuring plan [2] - The industrial investor has not requested asset injection into the company at this stage [2]

Core Viewpoint - ST Nanchuan has signed a restructuring investment agreement with four industrial investors, but there is a significant risk of the agreement being terminated, and uncertainty regarding the company's entry into the restructuring process exists [1] Group 1: Restructuring Agreement - The company has entered into a restructuring investment agreement with Quanzhou Innovation Investment Development Partnership and Quanzhou Quangang District Industrial Equity Investment Fund, among others [1] - The agreement carries risks of being revoked or terminated, indicating potential instability in the restructuring process [1] Group 2: Financial and Operational Risks - The company has received a negative opinion on its internal control audit report and has reported negative net profits for three consecutive accounting years when excluding non-recurring gains and losses [1] - The financial report has been issued with a qualified opinion, leading to the implementation of "other risk warnings" for the company's stock [1] Group 3: Potential Consequences - If the restructuring fails, the company may face bankruptcy liquidation, which would pose a risk of stock delisting [1]

Group 1: Restructuring Progress - The company is awaiting approval from the China Securities Regulatory Commission and the Supreme People's Court to enter the formal restructuring phase after signing the restructuring investment agreement with investors [1][2] - As of May 6, 2025, the recruitment and selection of restructuring investors have been successfully completed, with agreements signed with several investors [2] Group 2: Restructuring Plan and Investor Concerns - The restructuring plan has not yet been finalized, and the conversion date will be determined based on the restructuring plan [2] - Whether the restructuring will lead to a stock dilution will depend on the final equity adjustment plan, debt repayment price, and the stock market price at that time [2] - Currently, the industrial investors have not requested any asset injection into the company [2] Group 3: Investor Communication - The communication with investors was conducted through a text Q&A format, addressing concerns about governance, development strategy, operational status, and sustainability [1] - The restructuring investors are expected to settle in after the execution of the company's restructuring plan [2]

证券代码：300159 证券简称：*ST 新研 公告编号：2025-040 新疆机械研究院股份有限公司 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： 国信达资产管理股份有限公司四川省分公司（以下简称"申请人"或"债权人"）发来的《告 知函》，债权人已于 2025 年 5 月 30 日向乌鲁木齐市中级人民法院（以下简称"乌鲁木齐 中院"或"法院"）申请对公司进行重整，并申请启动预重整程序。 知书》，对债权人对公司的预重整申请进行备案登记。同日，乌鲁木齐中院出具(2025) 新 01 破申（预）1 号《确定书》，确定北京市金杜律师事务所和新疆巨臣律师事务所联 合担任预重整辅助机构。 乌鲁木齐中院对预重整申请备案登记，不代表法院正式受理申请人对公司的重整申 请，预重整程序是为了识别公司重整价值和重整可能，提高后续重整工作推进效率。截 至本公告披露日，申请人的重整申请能否被法院受理、公司后续是否进入重整程序均存 在不确定性。 如法院裁定受理申请人对公司的重整申请，公司将依法配合法院及管理人开展重整 相关工作，并依法履 ...

Core Viewpoint - *ST Jinkang (300093) is undergoing restructuring with Guangdong Ouhao Group as the confirmed industrial investor, having signed a restructuring investment agreement [2][3]. Group 1: Company Background - *ST Jinkang, officially known as Gansu Jinkang Photovoltaic Co., Ltd., is engaged in high-efficiency heterojunction (HJT) solar cells and components [3]. - The company has faced poor operating conditions, resulting in consecutive losses [3]. Group 2: Restructuring Process - On July 8, 2024, *ST Jinkang received a court decision for restructuring due to its inability to repay debts, leading to the initiation of pre-restructuring procedures [3]. - By August 25, 2024, the temporary administrator received applications from 19 potential restructuring investors [3]. Group 3: Investor Details - Ouhao Group is the largest shareholder of *ST Jinkang, holding 21.99% of shares, with a combined holding of 25.01% including its concerted actions [3]. - The group reported a revenue of 5.57 billion yuan in 2023, but incurred a net loss of 100 million yuan [4]. Group 4: Investment Plan - Ouhao Group plans to invest between 268 million yuan and 402 million yuan at a price of 4.96 yuan per share, acquiring between 54 million and 81 million shares [6]. - The market reference price for the shares is set at 9.91 yuan per share, with the investment price being below 50% of this reference [8]. Group 5: Sales Contract Impact - *ST Jinkang's subsidiary signed a significant sales contract for 194 MW of HJT solar cells, expected to account for over 50% of the company's audited revenue for 2024 [9].

红星美凯龙家居集团股份有限公司 简式权益变动报告书 上市公司： 红星美凯龙家居集团股份有限公司 A 股股票上 上海证券交易所 市地点： 股票简称： 美凯龙 股票代码： 601828 H 股股票上 香港联合交易所有限公司 市地点： 股票简称： 红星美凯龙 股票代码： 01528 股份权益变动性质： 股份减少 信息披露义务人一： 红星美凯龙控股集团有限公司 住所： 上 海 市 浦 东 新 区 临 御 路 518 号 6 楼 F8020-1 通讯地址： 上海市闵行区申长路 1466 弄 5 号红星美 凯龙总部 A 座北楼 信息披露义务人二： 车建兴 住所： 上海市静安区****** 通讯地址： 上海市闵行区申长路 1466 弄 信息披露义务人的一 常州美开信息科技有限公司 致行动人之一： 住所： 武进国家高新技术产业开发区西湖路 1 号众创中心 A 座 127-3 通讯地址： 上海市闵行区申长路 1466 弄 5 号楼 A 座 北楼 信息披露义务人的一 陈淑红 致行动人之二： 住所： 上海市静安区****** 通讯地址： 上海市闵行区申长路 1466 弄 信息披露义务人的一 车建芳 致行动人之三： 住所： 上海市闵 ...

Core Viewpoint - The conflict between new and old shareholders of Youkeshu raises concerns about potential impacts on the company's future operations and the interests of minority shareholders [1] Group 1: Shareholder Conflict - Youkeshu's new major shareholder, Wang Wei and his associates, proposed to hold an extraordinary general meeting to replace the board of directors, but the proposal was rejected by the board led by Xiao Siqing [2][5] - The board argued that the current directors' terms are set to expire in October 2025, and there was no valid reason to dismiss them prematurely [5] - Xiao Siqing accused Wang Wei of failing to meet performance commitments made during the company's restructuring, which he claimed harmed the company's interests [5][9] Group 2: Company Financial Status - As of the end of 2023, Youkeshu's equity attributable to shareholders was negative, leading to a delisting risk warning starting April 29, 2024 [1] - The company's cross-border e-commerce sales revenue for 2024 was 303 million, a decrease of 12.18% year-on-year, attributed to low product differentiation and external challenges such as account suspensions on platforms like Amazon [10] - The company has faced significant financial strain, with over 200 million withdrawn from its cross-border e-commerce segment to repay bank loans and cover operational costs [10] Group 3: Restructuring and Future Prospects - Youkeshu successfully completed its restructuring by the end of 2024, which allowed it to lift the delisting risk warning and change its stock name back to Youkeshu [1] - The company aims to leverage the liquidity support from the new investors and the resources promised by the industrial investors to revitalize its cross-border e-commerce business [10] - Despite the challenges, Youkeshu retains a certain level of industry recognition and aims to rebuild itself as a stable and well-performing listed company [10]

证券代码：600884 证券简称：杉杉股份 公告编号：临 2025-048 宁波杉杉股份有限公司 关于控股股东重整的进展公告 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。 宁波杉杉股份有限公司（下称"公司"）的控股股东杉杉集团有限公司（下 称"杉杉集团"）及其全资子公司宁波朋泽贸易有限公司（下称"朋泽贸易"）于 杉杉集团在上海证券交易所网站发布的相关公告，现将相关情况公告如下： 目前，公司控股股东不存在非经营性资金占用、违规担保等侵害上市公司利 益的情形。公司具有独立完整的业务及自主经营能力，公司与控股股东在资产、 业务、财务等方面均保持独立。目前公司生产经营一切正常，本次事项目前未对 公司日常生产经营造成重大实质影响，后续公司将持续努力做好各项经营管理工 作，以保障上市公司稳健经营。 截至 2025 年 5 月 31 日，杉杉集团持有公司股份 320,296,700 股，占公司总 股本的 14.24%；朋泽贸易持有公司股份 205,264,756 股，占公司总股本的 9.13%。 前述所持公司股份存在较高比例被质押、司法冻 ...

*ST金科（000656）公告，公司及全资子公司重庆金科收到重庆市第五中级人民法院送达的《民事裁定 书》，法院裁定批准《金科股份重整计划》和《重庆金科重整计划》，并终止重整程序。重整计划执行 阶段，公司将优化资产负债结构，恢复持续盈利能力。若重整失败，公司存在破产风险，股票将面临退 市风险。重整投资协议中，产业投资人和财务投资人已支付第二期履约保证金合计5.52亿元。公司2024 年度期末净资产为负，股票已被实施退市风险警示。 ...

转自：一度医药 2025年5月27日，*ST长药发布公告称，原告江陵县享发实业有限公司与被告*ST长药及第三人湖北安博 制药有限公司的股权转让纠纷案一审判决后，双方均提起上诉。 最终，湖北省荆州市中级人民法院裁定准许*ST长药撤回上诉，原告上诉部分按自动撤回处理。该案件 涉及金额8315万元，其中1482.05万元预计将对公司当期损益产生影响。 此外公告还显示，长药控股及子公司存在1起尚未披露的小额诉讼、仲裁事项——原告固原市经济开发 区瑞祥铁件加工部与被告宁夏长药良生制药有限公司合同纠纷案。 2023年原告与被告签订合同，约定由原告为被告的项目施工作业，目前被告未向原告支付部分费用。 诉讼请求：判令被告向原告支付剩余安装费、制作费等共计97510.50元，本案诉讼费用由被告承担。该 案已于2025年5月19日在宁夏回族自治区固原市原州区人民法院立案，将于2025年5月28日开庭审理。该 案预计不会对公司当期损益产生影响。 除了此次股权转让纠纷案，值得关注的是，近期长药控股（证券代码：300391）面临多起重大诉讼案 件，涉及金融借款合同纠纷、建设工程施工合同纠纷等多个领域。这些案件的进展和结果对公司财务状 ...