公司及有关责任人表示将认真吸取教训，加强相关法律法规学习，杜绝此类行为再次发生。本次行政监管措施不会影响公司正常生产经营。 天眼查资料显示，百川能源成立于1992年03月18日，注册资本134085.481万人民币，法定代表人王东海，注册地址为汉阳区阳新路特一号。主营业务为城市 管道燃气销售、燃气工程安装、燃气具销售。 目前，公司董事长为王东海，董秘为李思萌，员工人数为1944人，实际控制人为王东海。 雷达财经 文|冯秀语 编|李亦辉 11月14日，百川能源（600681）公告，公司及相关人员于2025年11月13日收到中国证券监督管理委员会湖北监管局出具的警示函。原因是公司董事长王东海 自2019年9月起可以控制涿鹿大地燃气有限公司和绥中大地天然气管道有限公司，但未向公司报送关联人名单和关联关系说明，导致公司在2019年10月以 2.20亿元收购这两家公司时未履行关联交易的审议程序和披露义务。 该行为违反了《上市公司信息披露管理办法》第四十八条的规定。湖北证监局决定对公司及王东海采取出具警示函的行政监管措施，并记入证券期货市场诚 信档案。 公司参股公司51家，包括河北广祥建设工程有限公司、海南百川氢能科技发 ...

Core Viewpoint - Baichuan Energy's stock has shown significant volatility, with a year-to-date increase of 42.11%, but a recent decline of 3.73% over the past five trading days [1][2]. Group 1: Stock Performance - As of November 11, Baichuan Energy's stock price was 4.64 CNY per share, with a market capitalization of 6.222 billion CNY [1]. - The stock has experienced a trading volume of 56.3873 million CNY, with a turnover rate of 0.92% [1]. - Year-to-date, the stock has risen by 42.11%, with a 3.73% decline in the last five trading days, a 16.29% increase over the last 20 days, and a 27.47% increase over the last 60 days [1]. Group 2: Financial Performance - For the period from January to September 2025, Baichuan Energy reported a revenue of 3.688 billion CNY, reflecting a year-on-year growth of 5.80% [2]. - The net profit attributable to the parent company for the same period was 189 million CNY, representing a year-on-year increase of 9.82% [2]. Group 3: Shareholder Information - As of September 30, Baichuan Energy had 29,600 shareholders, a decrease of 6.25% from the previous period [2]. - The average number of circulating shares per shareholder increased by 6.67% to 45,233 shares [2]. Group 4: Dividend Information - Baichuan Energy has distributed a total of 3.850 billion CNY in dividends since its A-share listing, with 1.012 billion CNY distributed over the past three years [3].

Core Viewpoint - Baichuan Energy's stock has experienced fluctuations, with a year-to-date increase of 38.74% and recent trading activity indicating a mixed sentiment among investors [1][2]. Financial Performance - For the period from January to September 2025, Baichuan Energy reported a revenue of 3.688 billion yuan, representing a year-on-year growth of 5.80%. The net profit attributable to shareholders was 189 million yuan, reflecting a growth of 9.82% [2]. Stock Market Activity - As of November 10, Baichuan Energy's stock price was 4.53 yuan per share, with a market capitalization of 6.074 billion yuan. The stock has seen a trading volume of 198 million yuan and a turnover rate of 3.22% [1]. - The stock has been on the "龙虎榜" three times this year, with the most recent appearance on October 24, where it recorded a net buy of -5.6059 million yuan [1]. Shareholder Information - As of September 30, the number of Baichuan Energy's shareholders was 29,600, a decrease of 6.25% from the previous period. The average number of tradable shares per shareholder increased by 6.67% to 45,233 shares [2]. Dividend Distribution - Baichuan Energy has distributed a total of 3.850 billion yuan in dividends since its A-share listing, with 1.012 billion yuan distributed over the past three years [3].

Core Insights - Baichuan Energy reported a revenue of 3.688 billion yuan for the first three quarters of 2025, representing a year-on-year increase of 5.80% [1] - The net profit attributable to shareholders was 189 million yuan, up 9.82% year-on-year, while the net profit excluding non-recurring items decreased by 11.23% to 131 million yuan [1] - The basic earnings per share stood at 0.14 yuan, with a weighted average return on equity of 5.17% [1] Financial Performance - The gross profit margin for the first three quarters was 11.93%, a decrease of 0.83 percentage points year-on-year, while the net profit margin was 5.33%, an increase of 0.01 percentage points [1] - In Q3 2025, the gross profit margin was 13.70%, down 2.54 percentage points year-on-year but up 0.13 percentage points quarter-on-quarter; the net profit margin was 3.41%, down 3.66 percentage points year-on-year and down 3.84 percentage points quarter-on-quarter [1] Expense Analysis - Total operating expenses for the period were 182 million yuan, a decrease of 6.03 million yuan year-on-year, with an expense ratio of 4.94%, down 0.46 percentage points [2] - Sales expenses decreased by 7.07% year-on-year, while management expenses increased by 1.40%, R&D expenses rose by 5.16%, and financial expenses decreased by 8.66% [2] Shareholder Information - As of the end of Q3 2025, the total number of shareholders was 29,600, a decrease of 1,975 or 6.25% from the end of the previous half [2] - The average market value per shareholder increased from 149,000 yuan at the end of the previous half to 172,500 yuan, a growth of 15.78% [2] Company Overview - Baichuan Energy, established on March 18, 1992, and listed on October 18, 1993, is located in Beijing and primarily engages in urban gas business, including pipeline gas sales, gas engineering installation, and gas appliance sales [2] - The revenue composition is heavily weighted towards the gas segment, accounting for 98.93%, with the heating segment contributing 1.07% [2] - The company is classified under the public utility sector, specifically in gas, and is associated with concepts such as natural gas, low prices, and small-cap stocks [2]