扬子晚报网9月30日讯（记者 范晓林 薄云峰）四连板的*ST沐邦（603398）（603398）实控人被立案调 查。9月29日晚，*ST沐邦公告称，公司实际控制人廖志远于2025年9月29日收到中国证监会《立案告知 书》。因廖志远涉嫌未按规定披露非经营性资金往来，根据相关法律法规，中国证监会决定对廖志远立 案。 根据相关规定，如公司2025年度营业收入低于3亿元且利润总额、扣非前后净利润三者孰低者为负值， 或者公司2025年度内部控制被出具无法表示意见或否定意见的审计报告，公司股票将在2025年年报披露 后终止上市。 事实上，*ST沐邦早前已被立案调查。公告显示，今年7月25日*ST沐邦收到中国证监会《立案告知 书》。因公司涉嫌年报等定期报告财务数据虚假披露等违法行为，根据法律法规，中国证监会决定对公 司立案。截至公告披露日，*ST沐邦未收到中国证监会就上述立案事项的结论性意见或决定。 截至发稿，*ST沐邦跌停，报8.95元，市值38.81亿元。 同日披露的股价异动公告中，*ST沐邦表示，公司股票自9月24日至9月29日，连续四个交易日涨停，累 计涨幅21.71%。公司生产经营未发生重大变化，股价短期内上涨过 ...

9月26日，京运通盘中下跌2.09%，截至11:26，报4.21元/股，成交2.50亿元，换手率2.43%，总市值 101.65亿元。 资金流向方面，主力资金净流出2495.10万元，特大单买入854.56万元，占比3.42%，卖出2063.64万元， 占比8.26%；大单买入4225.89万元，占比16.92%，卖出5511.91万元，占比22.07%。 京运通今年以来股价涨38.03%，近5个交易日跌3.88%，近20日涨11.08%，近60日涨22.03%。 今年以来京运通已经10次登上龙虎榜，最近一次登上龙虎榜为9月17日，当日龙虎榜净买入1.30亿元； 买入总计2.06亿元 ，占总成交额比20.45%；卖出总计7604.57万元 ，占总成交额比7.56%。 资料显示，北京京运通科技股份有限公司位于北京市北京经济技术开发区经海四路158号，成立日期 2002年8月8日，上市日期2011年9月8日，公司主营业务涉及高端装备制造、光伏发电、新材料和节能环 保四大产业。主营业务收入构成为：硅片36.93%，电力36.00%，硅棒16.94%，其他(补充)5.26%，脱硝 催化剂4.84%，设备0.03%。 ...

9月24日，京运通涨6.1%，截至发稿，报4.35元/股，成交1.47亿元，换手率1.40%，总市值105.04亿元。 资料显示，北京京运通科技股份有限公司位于北京市北京经济技术开发区经海四路158号，成立日期 2002年8月8日，上市日期2011年9月8日，公司主营业务涉及高端装备制造、光伏发电、新材料和节能环 保四大产业。主营业务收入构成为：硅片36.93%，电力36.00%，硅棒16.94%，其他(补充)5.26%，脱硝 催化剂4.84%，设备0.03%。 从京运通十大流通股东角度 数据显示，华夏基金旗下1只基金位居京运通十大流通股东。华夏中证1000ETF（159845）二季度增持 187.49万股，持有股数788.9万股，占流通股的比例为0.33%。根据测算，今日浮盈赚取约197.22万元。 责任编辑：小浪快报 华夏中证1000ETF（159845）成立日期2021年3月18日，最新规模382.27亿。今年以来收益25.57%，同 类排名1956/4220；近一年收益67.36%，同类排名1299/3814；成立以来收益26.34%。 华夏中证1000ETF（159845）基金经理为赵宗庭。 截至发 ...

Group 1 - The core viewpoint of the news is that Beijing Jingyuntong Technology Co., Ltd. has seen a significant increase in its stock price, with a rise of 5.56% to 4.94 CNY per share, and a trading volume of 1.247 billion CNY, indicating strong market interest [1] - The company, established on August 8, 2002, and listed on September 8, 2011, operates in four main industries: high-end equipment manufacturing, photovoltaic power generation, new materials, and energy conservation and environmental protection [1] - The revenue composition of the company is as follows: silicon wafers 36.93%, electricity 36.00%, silicon rods 16.94%, others 5.26%, denitration catalysts 4.84%, and equipment 0.03% [1] Group 2 - Among the top ten circulating shareholders of Jingyuntong, the Jiashi Fund's Jiashi CSI Rare Earth Industry ETF (516150) increased its holdings by 1.3577 million shares in the second quarter, now holding 7.3794 million shares, which accounts for 0.31% of the circulating shares [2] - The Jiashi CSI Rare Earth Industry ETF has a current scale of 2.427 billion CNY and has achieved a return of 71.2% this year, ranking 91 out of 4222 in its category [2] - The fund manager, Tian Guangyuan, has been in position for 4 years and 195 days, with the fund's total asset scale at 44.323 billion CNY, achieving a best return of 124.8% and a worst return of -46.65% during his tenure [3]

9月15日，京运通涨5.29%，截至发稿，报4.38元/股，成交1.14亿元，换手率1.10%，总市值105.76亿 元。 南方中证1000ETF（512100）基金经理为崔蕾。 截至发稿，崔蕾累计任职时间6年314天，现任基金资产总规模949.76亿元，任职期间最佳基金回报 147.61%， 任职期间最差基金回报-15.93%。 资料显示，北京京运通科技股份有限公司位于北京市北京经济技术开发区经海四路158号，成立日期 2002年8月8日，上市日期2011年9月8日，公司主营业务涉及高端装备制造、光伏发电、新材料和节能环 保四大产业。主营业务收入构成为：硅片36.93%，电力36.00%，硅棒16.94%，其他(补充)5.26%，脱硝 催化剂4.84%，设备0.03%。 风险提示：市场有风险，投资需谨慎。本文为AI大模型自动发布，任何在本文出现的信息（包括但不 限于个股、评论、预测、图表、指标、理论、任何形式的表述等）均只作为参考，不构成个人投资建 议。 从京运通十大流通股东角度 责任编辑：小浪快报 数据显示，南方基金旗下1只基金位居京运通十大流通股东。南方中证1000ETF（512100）二季度增持 25 ...

Core Viewpoint - Jiangxi Mubang High-Tech Co., Ltd. reported a significant decline in revenue and net profit for the first half of 2025, primarily due to the volatility in the photovoltaic industry and intensified competition in the toy sector [1][9]. Group 1: Company Overview and Financial Performance - The company recorded an operating income of CNY 140,945,252.19, a decrease of 33.85% compared to the same period last year [2][9]. - The total profit for the period was -CNY 225,242,257.48, showing an improvement of 6.75% from -CNY 241,542,313.13 in the previous year [2][9]. - The net profit attributable to shareholders was -CNY 212,423,525.34, a slight improvement of 2.38% from -CNY 217,594,412.96 [2][9]. - The net cash flow from operating activities was -CNY 16,832,740.71, a significant improvement of 79.50% compared to -CNY 82,105,079.74 in the previous year [2][9]. Group 2: Industry Analysis - The photovoltaic industry is experiencing rapid growth, with China's newly installed photovoltaic capacity reaching 212 GW in the first half of 2025, a year-on-year increase of 54.1% [3][9]. - The total global silicon wafer production capacity reached approximately 1394.9 GW, with a year-on-year growth of 43.2% [3][9]. - N-type silicon wafers have become the mainstream in the market, with a market share of 72.5% as of the end of 2024, expected to rise to 90% by 2025 [3][9]. - The toy industry faces intense competition, with many small-scale manufacturers leading to price wars and reduced profit margins [5][9]. Group 3: Business Segments - The company's main business includes the production and sales of monocrystalline silicon rods and wafers, as well as educational toys [6][9]. - The subsidiary, Haoyuan Energy, focuses on the research, production, and sales of photovoltaic silicon wafers and rods, primarily producing solar monocrystalline silicon wafers [6][9]. - The toy segment generated revenue of CNY 14,926,304.46, with a net profit of -CNY 21,175,344.04, indicating a challenging market environment [9][12].

Core Viewpoint - JA Solar Technology Co., Ltd. reported a significant decline in revenue and net profit for the first half of 2025, primarily due to intensified competition and price pressures in the photovoltaic industry [31]. Group 1: Company Overview - JA Solar is engaged in the photovoltaic industry, focusing on the research, production, and sales of solar silicon wafers, cells, modules, and energy storage systems [6][7]. - The company operates a vertically integrated model, with production facilities located both domestically and internationally, including in regions such as Inner Mongolia, Hebei, Jiangsu, and Vietnam [7][8]. Group 2: Financial Performance - For the first half of 2025, the company reported operating revenue of approximately CNY 23.90 billion, a decrease of 36.01% compared to the same period last year [31]. - The net profit attributable to shareholders was a loss of approximately CNY 2.58 billion, representing a 195.13% decline year-on-year [31]. - The company plans not to distribute cash dividends or issue bonus shares for this period [6]. Group 3: Business Segments - The company has established three main business groups: Photovoltaic and Energy Storage, Smart Energy, and Materials and Equipment, which work collaboratively to enhance operational efficiency [14][29]. - The Photovoltaic and Energy Storage group focuses on the production of silicon wafers, cells, modules, and energy storage systems, while the Smart Energy group develops integrated energy solutions [14][19]. Group 4: Product Development and Innovation - JA Solar has introduced several innovative products, including high-efficiency solar modules and energy storage systems tailored for various environmental conditions [10][12]. - The company emphasizes continuous technological innovation, with recent advancements in battery efficiency reaching up to 27% for its n-type Bycium+ cells [10][25]. Group 5: Market Strategy - The company is actively expanding its international presence, with sales networks established in 178 countries and regions, and aims to mitigate risks associated with market fluctuations through a diversified global strategy [23][24]. - JA Solar's sales strategy includes a mix of direct sales and distribution, adapting to the characteristics of different photovoltaic markets [16][19]. Group 6: Sustainability and Environmental Commitment - The company is committed to sustainable development, focusing on reducing environmental impact throughout its production processes and promoting green energy solutions [29][30]. - As of June 2025, six of JA Solar's production bases have been recognized as national "green factories," reflecting its commitment to environmentally friendly practices [30].

Group 1 - The latest stock price of JinkoSolar is 5.57 yuan, an increase of 1.46% compared to the previous trading day [1] - The opening price was 5.50 yuan, with a highest point of 5.58 yuan and a lowest point of 5.44 yuan, with a trading volume of 696,074 hands and a transaction amount of 383 million yuan [1] - JinkoSolar operates in the photovoltaic equipment industry, focusing on the research, production, and sales of photovoltaic products, including silicon rods, wafers, cells, and modules [1] Group 2 - JinkoSolar has established a partnership with Metlen Group to participate in a 1.6GWh energy storage project in Chile, which is one of the large-scale energy storage projects in emerging markets scheduled for delivery in the first half of 2025 [1] - In the first half of 2025, global energy storage battery shipments are expected to increase by 106% year-on-year, with domestic manufacturers accounting for 97.67% of the total shipments [1] - On July 29, JinkoSolar saw a net inflow of 39.61 million yuan in main funds, representing 0.07% of its circulating market value [1]

Core Viewpoint - *ST Muban is facing significant financial difficulties, including a major loss in revenue and ongoing legal issues, prompting the company to auction off assets to improve liquidity and focus on core business operations [1][2][3] Financial Performance - In 2024, the company reported a revenue of 277 million yuan, a decrease of 83.24% year-on-year, and a net loss attributable to shareholders of 1.162 billion yuan, marking a record high annual loss [2] - For Q1 2025, the company achieved a revenue of 60.27 million yuan with a net loss of 99.48 million yuan, and it is expected to incur a loss of 150 to 180 million yuan in the first half of 2025 [2] Asset Auction - The company plans to auction part of its subsidiary Guangdong Bangbao Yizhi Toy Co., Ltd.'s assets, including a land use right and buildings with a total area of 39,100 square meters and a construction area of 60,100 square meters [1] - The assessed value of the auctioned assets is 118 million yuan, with a starting price set at 82.36 million yuan, which is 70% of the assessed value [1] Legal and Regulatory Issues - The company has faced multiple legal challenges, including the freezing of bank accounts and judicial seizure of funds totaling 228 million yuan due to private lending disputes [3] - The Jiangxi Securities Regulatory Bureau has issued corrective measures against the company for significant accounting errors and improper use of raised funds, while the China Securities Regulatory Commission has initiated an investigation into alleged false disclosures in financial reports [3]

Core Viewpoint - *ST Muban (Muban High-Tech) reported a significant decline in revenue and a substantial net loss for 2024, raising concerns about its financial health and operational integrity [1][2]. Revenue Recognition and Accounting Issues - The company experienced a drastic revenue drop of 83.24% year-on-year, with total revenue reported at 277 million yuan and a net loss of 1.162 billion yuan [1]. - Two accounting errors led to adjustments in revenue recognition, particularly in the toy raw material sales, where revenue was changed from gross to net method, resulting in a revenue decrease of approximately 46.99 million yuan [2]. - The adjustment was due to a reassessment of the business model, where the company acted as an agent rather than a principal, affecting the revenue structure and client relationships [2]. Related Party Transactions and Fairness Concerns - The fairness of related party transactions was questioned, particularly regarding the sale of silicon rods by a subsidiary at prices significantly higher than those of non-related parties, leading to a revenue adjustment of 11.84 million yuan [3]. - A familial relationship between the actual controllers of the involved companies was not initially disclosed, raising further concerns about transparency [3]. Financial Health and Cash Flow Challenges - As of the end of 2024, the company had cash and cash equivalents of 261 million yuan, with 70.29 million yuan frozen, against total liabilities of 2.599 billion yuan, resulting in a high debt-to-asset ratio of 73.58% [4]. - The company faced significant short-term debt pressure, with current liabilities of 2.065 billion yuan compared to current assets of only 740 million yuan [4]. - Operating cash flow turned negative at -217 million yuan, while cash payments for goods and services increased to 448 million yuan, indicating cash flow strain [4]. Frequent Financing Activities and Investment Risks - The company engaged in frequent financing activities, receiving 2.505 billion yuan and paying out 2.612 billion yuan related to financing, primarily from non-financial institutions, to manage debt and operational needs [5]. - Investment impairment risks were highlighted, with the company recognizing impairments of approximately 39.94 million yuan and 95.66 million yuan for two major projects due to industry overcapacity and underperformance [5]. - The company is attempting to alleviate financial pressures through improved collection efforts and procurement strategies, but ongoing industry challenges remain a concern for its operational turnaround [5].