长江商报奔腾新闻记者 徐佳 周大福系A股上市公司ST景谷（景谷林业，600265.SH）再获大股东驰援。 9月23日晚间，ST景谷发布公告称，公司控股股东周大福投资拟与公司签署《资产赠与协议》，将其持 有的博达数科51%股权无偿赠与公司。公司无需支付任何对价，并不附任何义务。本次受赠完成后，公 司将持有上海博达数智科技有限公司（以下简称"博达数科"）51%股权，博达数科将纳入公司合并报表 范围内。 公告显示，博达数科成立于2025年4月末，迄今不足五个月，周大福投资持有其100%股权，并已于2025 年7月31日前完成对博达数科1.95亿元注册资本的实缴。 虽无偿获得控股股东注入算力资产，但当前ST景谷盈利能力低迷。数据显示，2025年上半年，ST景谷 实现营业收入1.23亿元，同比下降45.03%；净利润亏损1.24亿元；扣除非经常性损益后的净利润亏损 7514.45万元，自2005年以来一直为亏损状态。 在上述背景下，周大福投资此次向ST景谷注入资产，主要为提高上市公司经营能力，进一步优化公司 业务结构。 但另一方面，由人造板、营林造林行业跨界至算力行业，ST景谷本次交易也面临多重风险。 ST景谷同时也提 ...

Core Viewpoint - ST Jinggu (600265) announced that its controlling shareholder, Zhou Dafu Investment Co., Ltd., will gift 51% of its stake in Shanghai Boda Digital Technology Co., Ltd. to the company without any compensation or obligations, which will be included in ST Jinggu's consolidated financial statements [2][4] Group 1: Asset Transfer and Financial Support - Zhou Dafu Investment also provided ST Jinggu with a loan of 60 million yuan, marking another effort to support the company financially after taking control seven years ago [4][10] - On the day of the announcement, ST Jinggu's stock price rose by 4.94%, with a trading volume of 50.42 million yuan, significantly increasing by 300% compared to the previous trading day [4][10] Group 2: Company Background and Financial Data - Boda Digital was established on April 28, 2025, with a registered capital of 300 million yuan and paid-in capital of 195 million yuan, solely owned by Zhou Dafu Investment [6] - The company reported revenue of 6.41 million yuan and a net profit of 2.20 million yuan from May to July 2025, but has a limited customer base, currently only having a framework agreement with one enterprise [7][8] Group 3: Operational Challenges and Risks - ST Jinggu acknowledged its current liquidity issues and lack of personnel and technical capabilities to match the digital server business, indicating significant cross-industry operational risks [8] - Boda Digital's financial data shows a negative cash flow from operating activities of -83.48 million yuan for the first seven months of 2025, suggesting limited contribution to ST Jinggu's financial performance [9][10] Group 4: Historical Context and Market Reactions - Zhou Dafu Investment has been continuously injecting capital into ST Jinggu since acquiring a 30% stake in June 2018, totaling 2.325 billion yuan for a 55% ownership [11] - Despite ongoing financial support, ST Jinggu has not resolved its operational challenges, with multiple lawsuits and significant debt pressure, leading to skepticism about the effectiveness of these interventions [11][12]

9月23日晚，ST景谷（600265）发布公告称，公司控股股东周大福投资有限公司拟将其持有的上海博达 数智科技有限公司（以下简称"博达数科"）51%股权无偿赠与公司。本次赠与无需ST景谷支付任何对 价，亦不附加任何义务。受赠完成后，ST景谷将持有博达数科51%股权，后者将被纳入公司合并报表范 围。 在无偿赠送资产的同时，周大福投资还为ST景谷新提供6000万元借款。此次"多管齐下"的输血，是周 大福投资接掌ST景谷7年来，持续为其"填坑"的又一举措。（上海证券报曾以《ST景谷"救命稻草"爆雷 周大福投资一再"填坑"为哪般》为题进行报道）。 值得注意的是，9月23日当天，ST景谷股价上涨4.94%，成交额达5042万元，较前一交易日放大300%， 9月24日开盘直接一字涨停。回溯过往，ST景谷在发布重大信息前，股价多次出现提前精准异动的情 况，引发市场关注。 跨界救助难解"披星"风险 公告显示，博达数科成立于2025年4月28日，成立时间尚不足半年，唯一股东为周大福投资，该公司注 册资本3亿元，实缴资本1.95亿元。博达数科的法定代表人、董事、财务负责人为刘皓之，其同时担任 ST景谷董事；博达数科监事同样由ST ...

Industry Developments - The Ministry of Industry and Information Technology announced plans to develop new industries such as humanoid robots, brain-computer interfaces, the metaverse, and quantum information during the 14th Five-Year Plan period [1] - The Ministry of Transport is set to implement the "Artificial Intelligence + Transportation" initiative, focusing on large-scale innovation applications in the transportation sector [2] Regulatory Actions - The State Administration for Market Regulation has urged Huo La La to comply with antitrust laws and ensure fair market competition [2] - The National Internet Information Office has taken measures against platforms like Toutiao and UC for failing to manage harmful content effectively [3] Company News - Tianpu Co. announced a stock suspension due to a significant price increase of 317.72% over 15 trading days, indicating a disconnection from its fundamentals [4] - Upwind New Materials completed a share transfer involving 1.21 million shares, changing its controlling shareholder [4] - Wolong Nuclear Materials plans to invest up to 1 billion yuan in a new materials project in Jiangsu [5] - Dongshan Precision is preparing for an overseas H-share issuance to enhance its international presence [5] - Jinpu Titanium Industry has terminated its major asset restructuring plans due to market uncertainties [6] - Hualing Cable intends to acquire control of Anhui San Bamboo Intelligent Technology for up to 270 million yuan [6] - Initial Information reported abnormal stock trading due to significant price fluctuations [7] - ST Jinggu announced a donation of 51% equity in Bodata Technology to enhance its asset base [7] Research Insights - China Galaxy Securities remains optimistic about the computing power sector, particularly in PCB, domestic computing, IP licensing, and chip inductors [8] - CITIC Construction Investment forecasts a global upturn in power equipment demand, with investments exceeding 400 billion dollars by 2025 [8]

Core Viewpoint - ST Jinggu announced that its controlling shareholder, Zhou Dafu Investment, plans to donate 51% equity of Boda Digital Technology to the company without any compensation, aiming to enhance the company's operational capacity and optimize its business structure [1][4]. Group 1: Equity Donation - The donation will allow ST Jinggu to hold 51% of Boda Digital Technology, which will be included in the company's consolidated financial statements [1][4]. - Boda Digital Technology is newly established with unfulfilled registered capital and primarily holds intelligent computing server equipment [1][5]. Group 2: Financial Situation - Boda Digital Technology currently has a single client and reported revenue of 6.4061 million yuan, indicating that its future operational performance needs to be monitored [5]. - ST Jinggu is experiencing liquidity issues and lacks the necessary personnel and technical capabilities for ongoing business operations [5]. Group 3: Related Transactions - The asset donation constitutes a related party transaction but does not qualify as a major asset restructuring under the relevant regulations [5]. - To supplement its daily working capital, ST Jinggu plans to borrow 60 million yuan from Zhou Dafu Investment at an annual interest rate of 3.00% for a term of one year [5]. Group 4: Losses and Commitments - Zhou Dafu Investment has issued an unconditional and irrevocable commitment to cover any actual losses incurred by ST Jinggu due to issues related to its subsidiary, Huiyin Wood Industry, before and after the completion of the sale of 51% equity [6]. - ST Jinggu's subsidiary, Huiyin Wood Industry, has faced operational difficulties since 2024, leading to significant losses for the company [6]. Group 5: Recent Developments - ST Jinggu reported a 45.03% year-on-year decline in revenue for the first half of 2025, totaling 123 million yuan, with a net loss attributable to shareholders of 124 million yuan [7]. - The company has established two wholly-owned subsidiaries with a registered capital of 8 million yuan each to support its strategic planning and operational development [7].

Core Viewpoint - ST Jinggu intends to receive a 51% equity stake in Boda Digital Technology from its controlling shareholder, Zhou Dafu Investment, as a non-cash donation, which will integrate Boda into the company's consolidated financial statements [1] Group 1 - The controlling shareholder, Zhou Dafu Investment, plans to donate 51% of its stake in Boda Digital Technology to ST Jinggu [1] - After the donation, ST Jinggu will hold a 51% equity stake in Boda Digital Technology, which will be included in the company's consolidated financial statements [1] - Boda Digital Technology has a short establishment history and has not fully paid its registered capital, with its main assets being intelligent computing server equipment [1] Group 2 - Boda Digital Technology currently generates revenue of only 6.4061 million yuan [1] - The intelligent computing equipment was procured for external use in June 2025, and the business model involves providing this equipment to clients for a fee [1] - Currently, Boda Digital Technology has signed a framework agreement with only one client for the use of its computing equipment [1]