When facing thousands of listed company announcements every day, which ones should you read? What are the key points to take away from the dozens or hundreds of pages of material announcements? Are the many professional terms in the announcements bullish or bearish? Check out Caixin's "Quick Read Announcement" column, where our reporters across the country will provide you with accurate, fast and professional interpretations on the night of the announcement.

On December 3, the Financial Associated Press reported (by reporters Lu Tingting and Xu Xuecheng) that in recent days, Guangdong Mingzhu (600382.SH) has repeatedly issued risk warning notices related to stock trading. Today, the company's stock price hit the limit up again, marking three consecutive trading limits.

Staff from the Guangdong Mingzhu securities department told reporters from the Financial Associated Press who called as investors that the company is currently only registered and is still in the preliminary stage, having not generated any revenue or investment income, with significant uncertainties in future operations.

According to public information, Guangdong Mingzhu Group Drone Technology Co., Ltd. was registered on November 8, 2024, with a registered capital of 10 million yuan. Its business scope includes the manufacturing of auto parts and components, manufacturing of electronic components, internet of things technology services, sales of smart unmanned aerial vehicles, etc. Currently, no related sales order contracts have been signed.

Equity penetration analysis shows that the shareholders of Guangdong Mingzhu Group Drone Technology Co., Ltd. include Guangdong Mingzhu, Guangzhou Light Year Enterprise Management Partnership (Limited Partnership), and Guangzhou Flying Wing Exploration Enterprise Management Co., Ltd., holding 60%, 24%, and 16% respectively. The latter two companies were both established on October 18, 2024, and focus mainly on business services.

Behind the establishment of this holding subsidiary, Guangdong Mingzhu, whose main business is iron ore mining and iron concentrate production and sales, has faced declining performance. In the past two years, both revenue and net income have decreased, with operating revenue and net profit excluding non-recurring items for the first three quarters of this year at 0.268 billion yuan and 40.7553 million yuan, respectively, down 45.44% and 77.87% year-on-year.

This move may be aimed at incubating a second main business and cultivating new profit growth points.

Earlier, media cited a response from guangdong mingzhu group on the investor interaction platform regarding the above-mentioned drone subsidiary, stating that in the future, the company will create an excellent management and technology research and development team, focusing on smart drones, dedicated to developing innovative technology products that meet market demands, and striving to seize national opportunities in the low-altitude economy industry for leapfrog development.

However, today a reporter from Caijing Lianhe has been unable to find that response on the Shanghai Stock Exchange e-interaction platform, and from the existing information, it is still difficult to determine whether the common shareholders of the above-mentioned drone subsidiary possess the technology and resources related to drones.

It is worth noting that while today guangdong mingzhu group released a risk warning announcement regarding stocks, it also disclosed the progress of the share repurchase.

Looking back, guangdong mingzhu announced on September 3 that it plans to repurchase shares not less than 0.15 billion yuan and not more than 0.2365 billion yuan. The repurchased shares will be used for the employee stock ownership plan or stock-based incentive, and the repurchase price will not exceed 4.3 yuan per share. The implementation period for the repurchase plan is from September 3, 2024, to September 2, 2025.

As of November 30 of this year, the company has cumulatively repurchased 25.92 million shares through centralized bidding transactions, accounting for approximately 3.73% of the company's total share capital, with a total repurchase amount of 0.105 billion yuan (excluding transaction costs).

Since announcing the repurchase on September 3, the stock price of guangdong mingzhu has increased more than 66% within the range. In the last three trading days, it reached the daily limit, closing at 5.68 yuan per share today.