Group 1 - On November 12, Fangyuan Co., Ltd. experienced a 3.10% decline in stock price with a trading volume of 1.026 billion yuan. The financing buy amount for the day was 96.108 million yuan, while the financing repayment was 60.566 million yuan, resulting in a net financing buy of 35.542 million yuan. As of November 12, the total financing and securities lending balance was 265 million yuan [1] - The financing balance of Fangyuan Co., Ltd. on November 12 was 265 million yuan, accounting for 4.14% of the circulating market value. This financing balance is above the 90th percentile level over the past year, indicating a high level [1] - On the same day, Fangyuan Co., Ltd. had no shares repaid in securities lending, with 200 shares sold short, amounting to 2,502 yuan at the closing price. The securities lending balance was 93,800 yuan, also exceeding the 90th percentile level over the past year [1] Group 2 - As of September 30, the number of shareholders of Fangyuan Co., Ltd. was 15,900, an increase of 26.42% compared to the previous period. The average circulating shares per person decreased by 20.90% to 32,082 shares [2] - For the period from January to September 2025, Fangyuan Co., Ltd. reported a revenue of 1.49 billion yuan, representing a year-on-year growth of 5.29%. However, the net profit attributable to the parent company was -121 million yuan, a decrease of 1.76% year-on-year [2] Group 3 - Since its A-share listing, Fangyuan Co., Ltd. has distributed a total of 40.9374 million yuan in dividends, with no dividends paid in the last three years [3] - As of September 30, 2025, among the top ten circulating shareholders of Fangyuan Co., Ltd., HSBC Jinxin Intelligent Manufacturing Pioneer Stock A held 11.728 million shares, an increase of 2.175 million shares compared to the previous period. HSBC Jinxin Low Carbon Pioneer Stock A held 7.1133 million shares, an increase of 485,000 shares compared to the previous period [3]

New Stock Issuance - The stock code 300277 (Hai Lian Xun) has a subscription period for acquisition rights from November 12 to November 18, 2025[1] - Stock code 688353 (Hua Sheng Lithium) reported severe abnormal fluctuations on November 11, 2025[1] - Stock code 603122 (He Fu China) has an announcement dated November 8, 2025[1] Trading Alerts - Stock code 601888 (China Zhong Mian) has an announcement dated November 12, 2025[1] - Stock code 600537 (Yi Jing Guang Dian) has an announcement dated November 12, 2025[1] - Stock code 688028 (Wo Er De) has an announcement dated November 12, 2025[1] Abnormal Fluctuations - Stock code 600815 (Xia Gong Co.) reported abnormal fluctuations on November 6, 2025[2] - Stock code 603557 (ST Qi Bu) reported abnormal fluctuations on November 7, 2025[3] - Stock code 002478 (Chang Bao Co.) reported abnormal fluctuations on November 7, 2025[3]

Core Points - Fangyuan Co., Ltd. experienced a 5.11% decline in stock price, trading at 12.25 CNY per share with a total market capitalization of 6.25 billion CNY [1] - The company specializes in the research, production, and sales of lithium battery ternary precursor materials and nickel battery positive materials, with a revenue composition of 46.96% from sulfate, 29.77% from precursors, 14.07% from lithium carbonate, and 1.31% from spherical nickel hydroxide [1] Fund Holdings - According to data, Everbright Pramerica Fund holds Fangyuan Co., Ltd. as its tenth largest position, with 24,300 shares representing 1.03% of the fund's net value, resulting in an estimated floating loss of approximately 16,000 CNY [2] - Everbright Pramerica Chengxin Mixed A Fund has a total scale of 3.6051 million CNY and has achieved a year-to-date return of 46.64%, ranking 1198 out of 8147 in its category [2] Fund Manager Performance - The fund manager of Everbright Pramerica Chengxin Mixed A Fund, Zhu Jiantao, has been in position for 1 year and 191 days, managing assets totaling 1.851 billion CNY, with the best return during his tenure being 50.43% and the worst being 6.92% [3]

Core Viewpoint - The stock market experienced declines on November 11, with the Shanghai Composite Index down 0.39%, the Shenzhen Component Index down 1.03%, and the ChiNext Index down 1.4%. Notably, Juhua Technology saw significant net inflows, while Xue Ren Group faced substantial outflows [1][2]. Group 1: Stock Performance - Juhua Technology (300360.SZ) had the highest net buying amount of 448 million yuan, accounting for 22.89% of the total trading volume, and closed up 19.99% with a turnover rate of 20.19% [2][4]. - Xue Ren Group (002639.SZ) experienced the largest net selling amount of 281 million yuan, representing 7.72% of the total trading volume, and closed down 6% with a turnover rate of 39.03% [5][2]. Group 2: Institutional Activity - On November 11, 33 stocks on the leaderboard saw institutional participation, with a total net buying of 111 million yuan. Institutions net bought 20 stocks and net sold 13 stocks [6][11]. - The stock with the highest institutional net buying was Sifangda (300179.SZ), which closed up 19.99% with a turnover rate of 22.42% [6][7]. Group 3: Northbound Capital - Northbound capital participated in 14 stocks on the leaderboard, with a total net buying of approximately 93.13 million yuan. The highest net buying was in Yuanda Environmental (600292.SH) at 86.26 million yuan, while the largest net selling was in Yongtai Technology (002326.SZ) at 46 million yuan [11][13]. - Notably, both institutions and northbound capital jointly net bought stocks such as Huanlejia, Jinli Technology, and Xiongtao shares, while they jointly net sold stocks like Hailu Heavy Industry and Xue Ren Group [13][14].

Group 1 - Fangyuan Co., Ltd. saw a rise of over 15% [1] - Penghui Energy increased by more than 9% [1] - Other companies such as CATL, Tianji Co., Haike Xinyuan, and Yiwei Lithium Energy also experienced gains [1]

Core Insights - On November 11, the Shanghai Composite Index fell by 0.39%, with institutional investors appearing on the trading lists of 34 stocks, net buying 20 and net selling 14 [1][2]. Institutional Trading Summary - The stock with the highest net buying from institutional seats was Sifangda, which closed at the daily limit with a trading volume of 1.48 billion yuan and a turnover rate of 22.42%. The net buying amounted to 109.86 million yuan [2][4]. - Shenkong Co. also closed at the daily limit, with a trading volume of 1.65 billion yuan and a turnover rate of 13.32%, resulting in a net buying of 95.08 million yuan [2][4]. - Moen Electric closed at the daily limit with a turnover rate of 39.41% and a trading volume of 2.11 billion yuan, with a net buying of 82.29 million yuan [2][4]. Market Performance Analysis - The average increase of stocks with institutional net buying was 8.62%, outperforming the Shanghai Composite Index. Stocks like Zhu Laoliu and Aok Co. showed strong performance, closing at the daily limit [3]. - Historical data indicates that stocks with institutional net buying have a 55.63% probability of rising the next day and a 53.92% chance of outperforming the Shanghai Composite Index [3]. Net Selling Overview - The stock with the highest net selling was Fangyuan Co., with a net selling amount of 96.61 million yuan, despite a price increase of 19.65% [3][5]. - Daway Co. had a net selling of 76.30 million yuan, with a turnover rate of 51.34% [3][5]. - Xue Ren Group saw a net selling of 75.25 million yuan, with a significant net outflow of 530 million yuan [3][5]. Deep and Hong Kong Stock Connect Activity - On November 11, 14 stocks on the trading list had participation from the Shenzhen and Shanghai Stock Connect, with net buying in stocks like Yuanda Environmental Protection and Dayou Energy, amounting to 86.26 million yuan and 51.20 million yuan respectively [6][7]. - Stocks with net selling included Yongtai Technology and Xue Ren Group, with net selling amounts of 46.00 million yuan and 43.26 million yuan respectively [6][7].

Core Points - Fangyuan Co., Ltd. (688148) closed at 12.91 yuan on November 11, with a significant increase of 19.65% and a trading volume of 1.384 billion yuan [2] - The stock was listed on the daily trading list due to its closing price increase of 15% [2] - The top five trading departments accounted for a total transaction of 483 million yuan, with a net selling of 2.8775 million yuan [2] Trading Activity - The main buying department was Yuekai Securities Co., Ltd. with a purchase amount of 89.8396 million yuan, followed by Goldman Sachs (China) Securities with 58.8342 million yuan [3] - The selling department included an institutional proprietary seat that sold 96.6061 million yuan, with total sales from the top selling departments amounting to 146 million yuan [3] - Overall, the stock experienced a net inflow of 101 million yuan in main funds throughout the day [3]

（编辑 任世碧） 证券日报网讯 11月11日晚间，芳源股份发布公告称，公司股票交易连续3个交易日内（2025年11月7 日、11月10日、11月11日）日收盘价格涨幅偏离值累计超过30%，属于股票交易异常波动情形。经公司 自查，并向控股股东、实际控制人书面发函查证，公司目前日常经营情况正常，未发生重大变化；公 司、控股股东及实际控制人不存在关于本公司的应披露而未披露的重大事项，也不存在其他处于筹划阶 段的重大事项。2025年前三季度，公司实现归母净利润为-12，077.48万元，仍处于亏损状态，公司提 请广大投资者注意公司经营业绩亏损的风险。公司股价短期波动幅度较大，敬请广大投资者注意投资风 险，审慎决策，理性投资。 ...

| 证券代码：688148 | 证券简称：芳源股份 | 公告编号：2025-060 | | --- | --- | --- | | 转债代码：118020 | 转债简称：芳源转债 | | 广东芳源新材料集团股份有限公司 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、准确性和完整性依法承担法律责任。 重要内容提示： 广东芳源新材料集团股份有限公司（以下简称"公司"）股票交易连续 3 个交易日内（2025 年 11 月 7 日、11 月 10 日、11 月 11 日）日收盘价格涨幅偏离 值累计超过 30%，根据《上海证券交易所交易规则》《上海证券交易所科创板股 票异常交易实时监控细则》的有关规定，属于股票交易异常波动情形。 经公司自查，并向控股股东、实际控制人书面发函查证，公司目前日常 经营情况正常，未发生重大变化；公司、控股股东及实际控制人不存在关于本公 司的应披露而未披露的重大事项，也不存在其他处于筹划阶段的重大事项。 2025 年前三季度，公司实现归母净利润为-12,077.48 万元，仍处于亏损 状态，公司提请广大投资者注意公司 ...

Core Insights - On November 11, a total of 44 stocks were identified with institutional activity, with 26 showing net buying and 18 showing net selling [2] - The top three stocks with the highest net buying by institutions were Sanxiang New Materials, China Duty Free Group, and Sifangda, with net buying amounts of 655 million, 517 million, and 138 million respectively [2][3] - The top three stocks with the highest net selling by institutions were Fangyuan Co., Guocheng Mining, and Dawi Co., with net selling amounts of 96.61 million, 85.74 million, and 76.30 million respectively [2][4] Institutional Buying Summary - Sanxiang New Materials had a price increase of 10.01% with a net buying amount of 65.46 million [3] - China Duty Free Group saw a price increase of 4.19% with a net buying amount of 51.68 million [3] - Sifangda experienced a significant price increase of 19.99% with a net buying amount of 13.82 million [3] Institutional Selling Summary - Fangyuan Co. had a price increase of 19.65% but faced a net selling amount of 96.61 million [4] - Guocheng Mining had a price increase of 9.99% with a net selling amount of 85.74 million [4] - Dawi Co. experienced a price decrease of 3.02% with a net selling amount of 76.30 million [4]