Core Viewpoint - The stock of Meiyanji Xiang has experienced significant volatility, achieving three limit-up days within four trading days, resulting in a cumulative increase of 32.12% and a turnover rate of 87.64% [2] Trading Performance - As of January 23, the stock recorded a trading volume of 208 million shares and a transaction amount of 1.099 billion yuan, with a turnover rate of 10.93% [2] - The stock's performance over the past few days shows fluctuations, with a daily increase of 9.96% on January 22 and a decrease of 0.60% on January 23 [2] Margin Trading Data - The latest margin trading balance for the stock is 406 million yuan, with a financing balance of 403 million yuan, reflecting an increase of 2.78 million yuan or 0.70% from the previous trading day [2] - Over the past four days, the margin trading balance has increased by 111 million yuan, representing a growth of 37.90% [2] Institutional Activity - The stock has appeared on the Dragon and Tiger list twice due to a cumulative deviation in price of 20% over three consecutive trading days and a daily turnover rate of 20% [2] - Institutional investors have net bought 55.66 million yuan, while the Shanghai Stock Connect has seen a cumulative net purchase of 81.94 million yuan, with total net buying from brokerage seats amounting to 147 million yuan [2] Earnings Forecast - On January 17, the company released a profit forecast for 2025, expecting a net loss between 98 million yuan and 80 million yuan, indicating a year-on-year change range of -18.33% to 3.40% [2]

Core Viewpoint - The stock of Meiyanji Xiang (600868) experienced a decline of 0.60% with significant trading activity, indicating notable investor interest and potential volatility in the near term [2]. Trading Activity - The stock had a turnover rate of 28.67% and a total trading volume of 2.734 billion yuan, with a price fluctuation of 10.69% throughout the day [2]. - Institutional investors net bought 55.6613 million yuan, while the Shanghai-Hong Kong Stock Connect saw a net purchase of 41.3554 million yuan [2]. - The top five trading departments accounted for a total transaction of 735 million yuan, with a net buying amount of 162 million yuan [2]. Institutional Involvement - Among the trading departments, one institutional specialized seat was noted, contributing a net purchase of 55.6613 million yuan [2]. - The Shanghai-Hong Kong Stock Connect was the largest buying and selling department, with a buying amount of 165.3152 million yuan and a selling amount of 123.9598 million yuan [4]. Recent Performance - Over the past six months, the stock has appeared on the trading leaderboard 12 times, with an average price increase of 0.85% the day after being listed and an average increase of 0.20% over the following five days [2]. - The stock saw a net outflow of 214 million yuan in major funds today, with a significant outflow of 169 million yuan from large orders [2]. Financing Data - As of January 22, the stock's margin trading balance was 403 million yuan, with a financing balance of 400 million yuan and a securities lending balance of 3.2693 million yuan [3]. - In the past five days, the financing balance increased by 116 million yuan, representing a growth of 40.62% [3]. Financial Performance - For the first three quarters, the company reported a revenue of 207 million yuan, a year-on-year decrease of 18.54%, and a net loss of 30.8486 million yuan [3]. - The company projected a net loss for the year 2025 between 98 million yuan and 80 million yuan, with a year-on-year change range of -18.33% to 3.40% [3].

股票简称：梅雁吉祥 证券代码：600868 编号：2026-008 广东梅雁吉祥水电股份有限公司 股票交易异常波动公告 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。 重要内容提示 1、广东梅雁吉祥水电股份有限公司（以下简称"公司"或"本公司"）股票 交易于 2026 年 1 月 20 日、1 月 21 日、1 月 22 日连续三个交易日内日收盘价格 涨幅偏离值累计达到 20%，根据《上海证券交易所交易规则》等有关规定，属于 股票交易异常波动情形。敬请广大投资者注意二级市场交易风险。 2、公司于 2026 年 1 月 22 日披露了《关于全资子公司矿产资源储量评审备 案的进展公告》），公告中充分提示了重大事项不确定性风险，具体如下： 1）公司现有的采矿权许可证的开采深度为-60 米以上的范围，2012 年 5 月至 今处于停产状态。公司目前的技术人员还不够成熟，暂不具备自采的能力。公司 未来有可能采取自行开采、寻求合作或转让等方式进行处理，但目前处理方式存 在不确定性。 2）采矿权扩大范围批准时间的不确定性：公司对-60 米以 ...

Group 1 - The stock of Meiyanji Xiang (600868) reached the daily limit, with a turnover rate of 31.14% and a transaction amount of 2.895 billion yuan, showing a fluctuation of 7.58% [2] - The stock was listed on the Shanghai Stock Exchange's daily trading information due to its turnover rate, with a net purchase of 50.2592 million yuan from the Shanghai-Hong Kong Stock Connect [2] - In the last six months, the stock has appeared on the trading leaderboard 11 times, with an average price increase of 1.00% the day after being listed and an average increase of 0.28% over the following five days [2] Group 2 - The latest margin financing and securities lending data shows a total balance of 367 million yuan, with a financing balance of 364 million yuan and a securities lending balance of 2.7848 million yuan [3] - In the past five days, the financing balance increased by 115 million yuan, representing a growth of 45.98%, while the securities lending balance increased by 728,900 yuan, a rise of 35.46% [3] - The company's Q3 report for 2025 indicated a total operating revenue of 207 million yuan, a year-on-year decrease of 18.54%, and a net profit of -30.8486 million yuan [3] Group 3 - The company issued a profit forecast on January 17, 2025, estimating a net profit between -98 million yuan and -80 million yuan, with a year-on-year change range of -18.33% to 3.40% [3] - The trading data on January 22, 2025, shows significant buying activity from various brokerage firms, with the top five buying firms contributing a total of 60.6 million yuan in transactions [4] - The top buying firm was the Shanghai-Hong Kong Stock Connect, with a purchase amount of 105.4802 million yuan, while the top selling firm was Kaiyuan Securities, with a selling amount of 69.0448 million yuan [4]

Group 1 - The stock of Meiyanjiasheng increased by 9.96% today [1] - The trading volume on the leaderboard reached 605.78 million yuan, accounting for 20.92% of the total trading amount for the day [1] - The net buying amount was 110.91 million yuan, with a buying amount of 358.35 million yuan and a selling amount of 247.43 million yuan [1] Group 2 - The top buyers included the Shanghai Stock Connect and Goldman Sachs (China) Securities, with purchases of 160.03 million yuan and 111.20 million yuan respectively [1] - The top sellers included the Shanghai Stock Connect and Kaiyuan Securities, with sales of 119.45 million yuan and 69.05 million yuan respectively [1]

Core Viewpoint - The company, Guangdong Meiyan Jixiang Hydropower Co., Ltd., has received approval for the mineral resource reserve review of its wholly-owned subsidiary, Meizhou Meiyan Mining Co., Ltd., which is expected to facilitate future mining operations despite current uncertainties regarding mining rights and operational capabilities [3][7]. Group 1: Resource Reserve Review - The resource reserve review for the antimony-silver mine in the Songxi mining area has been approved by the Ministry of Natural Resources, confirming that the materials submitted meet relevant regulations [3]. - The verified resource amounts include: - Proven resources: 16.4 tons of metal, 69,000 tons of ore, average grade of 237.68 g/t - Controlled resources: 77.4 tons of metal, 305,000 tons of ore, average grade of 253.77 g/t - Inferred resources: 131.3 tons of metal, 465,000 tons of ore, average grade of 282.37 g/t [3][4]. Group 2: Changes in Resource Estimates - The changes in resource estimates are attributed to the extension of mining depth from -60m to -395m and the implementation of more precise exploration methods [4][5]. - The industrial indicators have also changed, with the boundary grades for silver and antimony being adjusted in the latest report compared to previous assessments [5][6]. Group 3: Future Steps and Implications - Following the approval of the resource reserve review, the company will proceed with the necessary procedures to change its mining rights to include the newly verified depths, which are currently not covered by existing permits [6][10]. - The company aims to maximize resource value and will develop feasible plans for resource utilization and development based on the reserve report results [6][11]. Group 4: Financial Impact - The project is not expected to have a significant impact on the company's financial status or operational performance in the short term due to the lengthy approval and construction cycles required for mining operations [11].

证券代码：600868 证券简称：梅雁吉祥 公告编号：2026-007 广东梅雁吉祥水电股份有限公司 关于全资子公司矿产资源储量评审备案的进展公告 本公司董事会、全体董事及相关股东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。 风险提示： 1、公司现有的采矿权许可证的开采深度为-60 米以上的范围，2012 年 5 月至 今处于停产状态。公司目前的技术人员还不够成熟，暂不具备自采的能力。公司未 来有可能采取自行开采、寻求合作或转让等方式进行处理，但目前处理方式存在不 确定性。 2、采矿权扩大范围批准时间的不确定性：公司对-60 米以下矿产资源尚未取得 采矿权，本次储量评审备案通过后仍需履行[采矿权变更/ 扩大/ 探转采]等审批程 序。[采矿权变更/ 扩大/ 探转采]等事项审批程序和取得批准文件的具体时间存在 不确定性。 3、资源勘探风险：矿产资源勘探具有复杂性和高风险性，实际开采过程中发 现的资源储量、品位可能与备案结果存在差异。 4、市场风险：银锑价格受宏观经济形势、行业周期、市场供需等多种因素影 响，价格波动可能对公司经营业绩产生影响。 5、环 ...

Core Viewpoint - The company announced that its wholly-owned subsidiary, Meiyan Mining, has received a response from the Ministry of Natural Resources, confirming the approval of mineral resource reserve assessment and filing [1] Group 1: Resource Assessment - The review indicates that the resource quantity for silver is between +150m to -395m, with proven, controlled, and inferred metal quantities of 16.4 tons, 265.1 tons, and 381.1 tons respectively [1] - For antimony, the controlled and inferred metal quantities are reported as 5543.4 tons and 15447.1 tons respectively [1] Group 2: Future Actions - Following the assessment approval, the company will proceed with the procedures for changing mining rights, although the timeline and handling of subsequent approvals remain uncertain [1] - The short-term impact on the company's financials and operations is not expected to be significant [1]

Market Overview - The electricity sector experienced a decline of 1.03% compared to the previous trading day, with TuoRi New Energy leading the drop [1] - The Shanghai Composite Index closed at 4116.94, up 0.08%, while the Shenzhen Component Index closed at 14255.12, up 0.7% [1] Stock Performance - Notable gainers in the electricity sector included: - MeiYan JiXiang (600868) with a closing price of 4.52, up 9.98% and a trading volume of 3.2084 million shares, totaling 1.391 billion yuan [1] - LuXiao Technology (002617) closed at 9.81, up 6.86% with a trading volume of 3.6169 million shares, totaling 3.433 billion yuan [1] - Significant decliners included: - TuoRi New Energy (002218) closed at 4.69, down 6.20% with a trading volume of 1.6187 million shares, totaling 767 million yuan [2] - QianYuan Electric Power (002039) closed at 18.60, down 5.49% with a trading volume of 174,100 shares, totaling 326 million yuan [2] Capital Flow - The electricity sector saw a net outflow of 9.52 billion yuan from major funds, while retail investors contributed a net inflow of 8.95 billion yuan [2] - The table of capital flow indicates that: - MeiYan JiXiang (600868) had a net inflow of 3.12 billion yuan from major funds, but a net outflow of 1.75 billion yuan from retail investors [3] - JingKe Technology (601778) experienced a net inflow of 1.59 billion yuan from major funds, with a net outflow of 9.41 million yuan from retail investors [3]

Group 1 - The core viewpoint of the news is that Meiyan Jixiang (stock code: sh600868) experienced a significant stock price increase, reaching a limit up of 4.52 yuan, with a rise of 9.98% and a total market capitalization of 8.58 billion yuan [1] Group 2 - The stock price surge is attributed to several factors, including the company's governance optimization, progress in mineral resources, and the water power concept [1] - The company has actively optimized its governance structure by completing a board of directors' reshuffle, establishing specialized committees, and adopting new performance models that comply with the new Company Law [1] - High executive compensation is now closely linked to performance, and measures have been taken to strengthen the protection of minority shareholders' rights, laying a solid foundation for the company's long-term development and enhancing market confidence [1] Group 3 - The company's wholly-owned subsidiary's antimony-silver mine reserve review has been accepted by the Ministry of Natural Resources, which, despite approval uncertainties, is expected to become a new growth point in the long term [1] - Meiyan Jixiang primarily focuses on hydropower, which is currently a market-favored concept, and the overall development of the hydropower industry has been supported by policies, attracting investor attention to hydropower stocks [1] Group 4 - On January 12, 2026, the company was included in the "Dragon and Tiger List," with a transaction amount of 886 million yuan, indicating significant buying interest from both retail and foreign investors [1] - The substantial inflow of funds has provided direct momentum for the stock price increase, reflecting market optimism towards the stock [1]