证券代码：688184 证券简称：ST 帕瓦 公告编号：2025-097 浙江帕瓦新能源股份有限公司 关于公司股票被实施其他风险警示的进展公告 本公司董事会及全体董事保证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： 天健会计师事务所（特殊普通合伙）作为浙江帕瓦新能源股份有限公司 （以下简称"公司"）审计机构，对公司 2024 年度财务报告内部控制出具了否 定意见的审计报告。根据《上海证券交易所科创板股票上市规则》第 12.9.1 条 第一款第（三）项的相关规定，公司 A 股股票于 2025 年 5 月 6 日被实施其他风 险警示。 根据《上海证券交易所科创板股票上市规则》第 12.9.5 条："上市公司 股票因第 12.9.1 条第一款第二项至第五项规定情形被实施其他风险警示的，在 被实施其他风险警示期间，公司应当至少每月披露 1 次提示性公告，分阶段披露 涉及事项的解决进展情况。"公司将每月披露一次其他风险警示相关事项的进展 情况，提示相关风险。 一、公司股票被实施其他风险警示的相关情况 天健会计师事务所（特殊普通合伙）作为公司审 ...

Financial Performance - The company's operating revenue for Q3 2025 was ¥116,342,568.27, a decrease of 40.01% compared to the same period last year[3]. - The total profit for the period was -¥45,501,356.99, showing an improvement of 64.21% year-over-year[3]. - The net profit attributable to shareholders was -¥45,501,356.99, a 57.08% reduction in losses compared to the previous year[3]. - Total operating revenue for the first three quarters of 2025 was CNY 355,542,958.75, a decrease from CNY 777,185,213.60 in the same period of 2024, representing a decline of approximately 54.4%[19]. - The net loss for the first three quarters of 2025 was CNY 203,932,008.55, compared to a net loss of CNY 440,364,091.48 in the same period of 2024, showing an improvement of approximately 53.7%[21]. Cost Management - The company implemented cost control measures, which helped narrow the net profit loss despite a decline in sales revenue[8]. - Total operating costs for the first three quarters of 2025 were CNY 477,169,540.33, down from CNY 1,019,896,375.51 in 2024, indicating a reduction of about 53.2%[20]. - Research and development expenses totaled ¥4,112,308.07, down 81.84% from the same period last year, reflecting a shift to centralized project management[3][8]. - Research and development expenses for the first three quarters of 2025 were CNY 21,026,066.62, a significant decrease from CNY 66,015,771.17 in 2024, representing a reduction of approximately 68.1%[20]. Shareholder Information - Total number of common shareholders at the end of the reporting period is 9,017[11]. - The largest shareholder, Zhuji Zhaoyuan Investment Co., Ltd., holds 24,000,000 shares, representing 15.09% of total shares[11]. - The top ten shareholders hold significant stakes, with the second-largest shareholder, Zhang Bao, owning 16,560,000 shares (10.41%)[11]. - The company has no significant changes in the participation of major shareholders in margin trading and securities lending[12]. Assets and Liabilities - Total assets at the end of the period were ¥2,011,112,285.55, a decrease of 25.28% from the end of the previous year[3]. - The company's total assets decreased from CNY 2,691,374,545.92 to CNY 2,011,112,285.55, reflecting a reduction of about 25.3%[16]. - Total liabilities decreased from CNY 875,552,909.18 to CNY 421,347,853.37, a decline of approximately 52.0%[16]. - The total equity attributable to shareholders decreased from CNY 1,815,821,636.74 to CNY 1,589,764,432.18, a decline of approximately 12.4%[16]. Cash Flow - The cash flow from operating activities showed a net outflow of -¥396,360,372.80 for the year-to-date, a 7.94% improvement compared to the previous year[3]. - The net cash flow from operating activities for the first three quarters of 2025 was -$396.36 million, compared to -$430.53 million in 2024, showing a slight improvement[23]. - Total cash outflow from operating activities in the first three quarters of 2025 was $873.60 million, down from $1.50 billion in 2024, indicating a reduction of approximately 41.7%[23]. - The net cash flow from investing activities was -$21.57 million in 2025, compared to -$56.74 million in 2024, reflecting a significant improvement[24]. - Cash inflow from financing activities in 2025 was $334.56 million, while cash outflow was $200.30 million, resulting in a net cash flow of $134.26 million[24]. Other Financial Metrics - The basic earnings per share for the period was -¥0.29, an improvement of 56.06% year-over-year[3]. - The weighted average return on equity was -2.56%, a 37.56% improvement compared to the previous year[3]. - The company's basic and diluted earnings per share for the first three quarters of 2025 were both CNY -1.29, compared to CNY -2.76 in the same period of 2024, indicating an improvement in per-share performance[22]. - The company's cash and cash equivalents as of September 30, 2025, amount to ¥85,140,085.53, a decrease from ¥399,357,384.14 at the end of 2024[14]. - The ending cash and cash equivalents balance for the first three quarters of 2025 was $64.01 million, compared to $124.64 million in 2024, a decrease of approximately 48.7%[24]. Operational Notes - There are no other important reminders regarding the company's operational situation during the reporting period[13]. - The company will implement new accounting standards starting in 2025, which may affect the financial statements[25].

Group 1 - The average premium of the latest closing prices of listed Sci-Tech Innovation Board stocks compared to their issue prices is 147.14%, with 119 stocks experiencing a decline in value [1][2] - Among the 589 listed Sci-Tech Innovation Board stocks, 468 have closing prices above their issue prices, while the highest premium is seen in Shangwei New Materials at 4311.48% [1][2] - The stocks with the largest declines include ST Pava, with a decline of 75.93%, and Chengda Bio, with a decline of 72.26% [1][2] Group 2 - ST Pava was issued at 51.88 yuan and is currently priced at 10.30 yuan, reflecting a significant decline [2] - Chengda Bio was issued at 110.00 yuan and is currently priced at 27.33 yuan, also showing a substantial decline [2] - Other notable declines include Wanrun New Energy at 70.07%, Tianyi New Materials at 65.40%, and CanSino at 64.27% [2][3] Group 3 - The data indicates a trend of significant price volatility among Sci-Tech Innovation Board stocks, with a notable number of stocks trading below their issue prices [1][2] - The industry average price-to-earnings ratio for ST Pava is 29.25, while its issue price was based on a P/E ratio of 93.68, indicating a substantial overvaluation at the time of issuance [1] - The performance of these stocks may reflect broader market conditions and investor sentiment towards the technology and innovation sectors [1][2]

Market Overview - The net outflow of main funds in the Shanghai and Shenzhen markets reached 44.231 billion yuan, with the Sci-Tech Innovation Board experiencing a net outflow of 290 million yuan [1] - A total of 251 stocks saw net inflows, while 338 stocks experienced net outflows [1] Sci-Tech Innovation Board Performance - On the Sci-Tech Innovation Board, 156 stocks rose, with one stock, Silin Jie, hitting the daily limit, while 423 stocks declined [1] - The top three stocks with the highest net inflow of main funds were Haiguang Information (net inflow of 642 million yuan), Dingtong Technology (228.6018 million yuan), and Hanwujing-U (198.2726 million yuan) [2] Continuous Fund Flow Analysis - There are 58 stocks with continuous net inflows for more than three trading days, with Kangwei Century leading at 14 consecutive days of inflow [2] - Conversely, 143 stocks experienced continuous net outflows, with Hangke Technology leading at 15 consecutive days of outflow [2] Key Stocks with Significant Fund Flows - The top stocks by net inflow include: - Haiguang Information: 64.192 million yuan, 7.43% inflow rate, 2.06% increase [2] - Dingtong Technology: 22.860 million yuan, 16.22% inflow rate, 1.24% increase [2] - Hanwujing-U: 19.827 million yuan, 1.00% inflow rate, 4.42% increase [2] - The stocks with the highest net outflows include: - Huahong Company: 31.8 million yuan outflow, 1.59% decrease [1] - Yuanjie Technology: 30.3 million yuan outflow [1] - Kingsoft Office: 15.9 million yuan outflow [1]

Market Overview - The net inflow of main funds in the Shanghai and Shenzhen markets reached 27.724 billion yuan, with the Sci-Tech Innovation Board seeing a net inflow of 3.374 billion yuan [1] - A total of 269 stocks experienced net inflows, while 320 stocks faced net outflows [1] Sci-Tech Innovation Board Performance - On the Sci-Tech Innovation Board, 532 stocks rose, with four stocks hitting the daily limit, including Zhengyuan Dixin and Fangyuan Co., while 55 stocks declined [1] - Among the stocks with significant net inflows, 11 stocks had inflows exceeding 100 million yuan, with SMIC leading at 978 million yuan [2] Continuous Fund Flow - There are 27 stocks that have seen continuous net inflows for more than three trading days, with Kangwei Century leading at 13 consecutive days of inflow [2] - Conversely, 180 stocks have experienced continuous outflows, with Hangke Technology facing the longest streak at 14 consecutive days of outflow [2] Top Fund Inflows - The top stocks by net inflow include: - SMIC: 977.8 million yuan, with a flow rate of 9.89% and a price increase of 3.72% [2] - Haiguang Information: 457.1 million yuan, with a flow rate of 5.76% and a price increase of 3.57% [2] - Zhongwei Company: 308.7 million yuan, with a flow rate of 8.48% and a price increase of 2.61% [2] Notable Outflows - The stock with the highest net outflow is Huahong Company, which saw a net outflow of 287 million yuan and a price decrease of 0.62% [1] - Other notable outflows include Dongxin Co. and Jinghe Integration, with net outflows of 178 million yuan and 157 million yuan, respectively [1]

Group 1: Share Buyback Progress - The company approved the fifth share buyback plan on June 11 and July 1, 2025, allowing for a buyback price not exceeding RMB 13.88 per share, with total funds between RMB 10 million and RMB 20 million [2] - As of September 30, 2025, the company has repurchased 966,849 shares, accounting for 0.61% of the total share capital, with a total expenditure of RMB 10,449,243.15 [3] - The repurchased shares will be used for employee stock ownership plans or equity incentives, and any unutilized shares within three years will be canceled [6] Group 2: Litigation Announcement - The company has initiated a lawsuit against Zhejiang Gepai Cobalt Industry New Materials Co., Ltd. for a breach of contract, seeking the return of RMB 39 million plus interest and penalties [9][10] - The lawsuit is currently in the acceptance stage and has not yet gone to trial, with the company positioned as the plaintiff [9][10] - The outcome of the lawsuit is uncertain, but it is stated that it will not affect the company's normal operations [9][10]

Core Viewpoint - ST Pava has filed a lawsuit against Zhejiang Gepai Cobalt Industry Co., Ltd. for a contract dispute, seeking the return of 39 million yuan and additional compensation due to non-delivery of goods [1][2]. Group 1: Legal Actions - ST Pava has initiated legal proceedings in the Zhuji People's Court, requesting the court to order Gepai Cobalt to return 39 million yuan along with interest and a penalty of 7.8899 million yuan due to breach of contract [1][2]. - The lawsuit stems from a procurement contract signed on November 25, 2024, where ST Pava paid a prepayment of 39 million yuan for cobalt sulfate, but Gepai Cobalt failed to deliver the goods within the agreed timeframe [2]. Group 2: Regulatory Issues - ST Pava and its former co-controller Zhang Bao are under investigation by the China Securities Regulatory Commission (CSRC) for alleged violations related to information disclosure, leading to inaccuracies in financial reports [1][4]. - Zhang Bao has been arrested for embezzlement, with the company acknowledging management issues that resulted in overpayment to suppliers totaling 180 million yuan [4]. Group 3: Management Changes - Following the legal and regulatory challenges, ST Pava has undergone significant management changes, appointing new executives including a general manager and a financial director [5]. - The company has engaged third-party auditing and consulting firms to review internal controls and address identified deficiencies [5]. Group 4: Business Operations - Despite the ongoing legal issues, ST Pava asserts that its normal production and operations will not be significantly affected [3][4]. - The company is focusing on optimizing production efficiency and enhancing research and development in solid-state battery technology, aiming to improve cash flow and market confidence [5].

Core Points - ST Pava has filed a lawsuit against Zhejiang Gepai Cobalt Industry Co., Ltd. regarding a contract dispute over a procurement agreement for cobalt sulfate valued at 39.4496 million yuan [1] - The lawsuit was initiated due to Gepai Cobalt's failure to deliver the goods on time, exceeding the 20-day grace period stipulated in the contract [1] - ST Pava's claims include the cancellation of the procurement contract, the return of the 39 million yuan prepayment, interest losses calculated based on LPR from January 14, 2025, and a penalty of 7.88992 million yuan for breach of contract [1] Company Impact - The company asserts that the lawsuit will not affect its normal production and operations [1] - The impact on the company's current and future profits remains uncertain until the court's decision and execution of the ruling [1] - ST Pava will fulfill its information disclosure obligations based on the progress of the lawsuit [1]

证券代码：688184 证券简称：ST 帕瓦 公告编号：2025-093 浙江帕瓦新能源股份有限公司 关于公司提起诉讼事项的公告 本公司董事会及全体董事保证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： 涉案的金额：原告浙江帕瓦新能源股份有限公司（以下简称"公司"或 "原告"）请求法院判令被告浙江格派钴业新材料有限公司（以下简称"格派钴 业"或"被告"）向原告返还 39,000,000 元及利息损失、违约金等其他费用。 是否会对上市公司损益产生负面影响：公司本次诉讼不会影响公司正常 生产经营。公司在本次诉讼案件中为原告，鉴于本次诉讼尚未开庭审理，上述事 项对公司当期及期后利润的影响具有不确定性，最终实际影响以法院判决及实际 执行结果为准。 一、本次诉讼的基本情况 公司就与被告浙江格派钴业新材料有限公司买卖合同纠纷事项向浙江省诸 暨市人民法院提起诉讼，并收到受理法院出具的《受理案件通知书》（案号：（2025） 浙 0681 民初 20694 号）。截至本公告披露日，该案件尚未开庭审理。 二、诉讼案件基本情况 （一）诉讼当事人 原告：浙江 ...

Group 1 - ST Pava announced the completion of its fifth share repurchase plan, having repurchased approximately 970,000 shares, accounting for 0.61% of the total share capital, with a total expenditure of about 10.45 million RMB [1] - The highest repurchase price was 14.43 RMB per share, while the lowest was 9.85 RMB per share [1] - For the year 2024, ST Pava's revenue composition is heavily weighted towards new energy battery materials, which account for 99.12% of total revenue, with other businesses making up 0.88% [1] Group 2 - As of the latest update, ST Pava's market capitalization stands at 1.6 billion RMB [2]