Today's Focus

[Tianjin Realty Development: Plans for significant asset restructuring, aiming to change main business from Real Estate Development to heating, comprehensive energy services, and New energy Fund generation.]

Tianjin Realty Development announced that due to planning for significant asset restructuring, the company’s stocks will be suspended from trading starting December 18, expected to last no more than 10 trading days. The company's controlling shareholder, Tianjin State-owned Capital Investment and Operation Co., Ltd., has decided to acquire the controlling stakes in Tianjin Jineng Co., Ltd., Tianjin Thermal Power Co., Ltd., Tianjin Port Yigong Heat Supply Co., Ltd., Tianjin Jineng Wind Power Co., Ltd., and Tianjin Energy Group New Energy Co., Ltd. held by Tianjin Energy Investment Group Co., Ltd. and its subsidiaries through asset swap, issuing shares, and cash payment, while raising matching funds. After the completion of this transaction, the company’s main business will change from Real Estate Development to heating, comprehensive energy services, and New energy Fund generation. Currently, the transaction is still in the planning stage, and related proposals such as the scope of assets to be disposed of and acquired are yet to be further discussed and determined.

[Anhui Xinke New Materials: Directors and executives have completed shareholding reduction plan.]

Anhui Xinke New Materials announced that as of the disclosure date, the company's Chairman, Song Zhigang, has cumulatively reduced his shareholding by 1.2 million shares through centralized bidding Trade, accounting for approximately 0.0664% of the company's total share capital; Director and General Manager Wang Sheng has cumulatively reduced his shareholding by 0.7 million shares, accounting for approximately 0.0388%; Director, Deputy General Manager, and Board of Directors Secretary Zhang Long has cumulatively reduced his shareholding by 0.7 million shares, accounting for approximately 0.0388%; Deputy General Manager Hu Jirong has cumulatively reduced his shareholding by 0.7 million shares, accounting for approximately 0.0388%; Deputy General Manager Xing Weisong has cumulatively reduced his shareholding by 0.15 million shares, accounting for approximately 0.0083%. This shareholding reduction plan has been completed.

[Gaoling Information: Plans to acquire 100% of Xinnuo Communication Stocks will resume trading tomorrow.]

Gaoling Information announced that the company plans to acquire 100% of Shanghai Xinnuo Communication Technology Co., Ltd. through issuing shares and cash payment, while raising matching funds, with the transaction price yet to be determined. The company’s main business includes military telecom network communication equipment, eco-friendly Internet of Things applications, and network and information security products. Xinnuo Communication specializes in the communication field, mainly providing network communication products and network security products for telecom operators and government enterprise clients. Both parties have high product complementarity and operational synergy in communications and cybersecurity sectors. The company's stock will resume trading on December 18.

[Guocheng Mining: Plans to purchase no less than 60% equity of Guocheng Industry, expected to constitute a major asset reorganization]

Guocheng Mining announced that it plans to purchase no less than 60% equity of Guocheng Industry held by Guocheng Holdings Group through cash payment and undertaking debts. This transaction constitutes a related party transaction and is expected to constitute a major asset reorganization. Through this transaction, the company will achieve control over Guocheng Industry, and on the existing layout of nonferrous metals with zinc concentrate, lead concentrate, silver concentrate, copper concentrate, etc., it will add molybdenum concentrate mining business, further enriching the company's product structure.

[B-ray Media: Plans to establish a project company to create and operate the Chengdu Intangible Cultural Heritage Expo Park assets]

B-ray Media announced that the company and its controlling subsidiary B-ray Vision, along with Chengdu Cultural Exchange Center, intend to jointly invest 0.1 billion yuan with the related party News Industry to establish Chengdu Xijin Time Cultural Communication Co., Ltd., to create and operate the targeted assets within the 1780 acres of Chengdu Intangible Cultural Heritage Expo Park. Among them, B-ray Media will invest 50 million yuan to hold 50%, B-ray Vision will invest 15 million yuan for a 15% stake, Chengdu Cultural Exchange Center will invest 15 million yuan for a 15% stake, and News Industry will invest 20 million yuan for a 20% stake.

[Chongqing Changan Automobile: Plans to increase capital by 4.551 billion yuan to Avita Technology]

Chongqing Changan Automobile announced that its joint venture Avita Technology has introduced investors through public listing to increase its capital at the Shanghai United Property Exchange, and the investment parties have basically been determined. The company plans to increase capital by 4.551 billion yuan, Southern Assets plans to increase capital by 0.4 billion yuan, Anyu Fund plans to increase capital by 2.8 billion yuan, Jiangyin Investment plans to increase capital by 0.7 billion yuan, and other new shareholders plan to increase capital by a total of 2.65 billion yuan. After this capital increase is completed, Chongqing Changan Automobile’s shareholding ratio will remain unchanged at 40.99%, Southern Assets' shareholding ratio will be diluted from 7.81% to 6.34%, Anyu Fund's shareholding ratio will be 8.81%, and Jiangyin Investment's shareholding ratio will be increased from 1.76% to 3.34%.

[Daqian Ecology: Shareholder Xinhua Distribution Group plans to reduce no more than 3% of the company's shares]

Daqian Ecology announced that its shareholder holding more than 5% of the shares, Anhui Xinhua Distribution (Group) Holding Co., Ltd. (hereinafter referred to as 'Xinhua Distribution Group'), plans to reduce its shares in the company by no more than 4.0716 million shares through centralized bidding and bulk trading within 3 months after the disclosure of this announcement, with a reduction ratio not exceeding 3% of the company's total equity.

[Guolian Securities: Major Asset Restructuring Matter Approved by the Restructuring Committee of the Shanghai Stock Exchange]

Guolian Securities announced that the company plans to issue A shares to purchase 99.26% of the shares of Minsheng Securities and raise matching funds. This transaction constitutes a major asset restructuring. The M&A Restructuring Committee of the Shanghai Stock Exchange held a review meeting on December 17, reviewing the company's application for this transaction, and the review result is that this transaction meets the restructuring conditions and information disclosure requirements.

Investment & Contract Signing

[Shanghai Milkground Food Tech: Termination of Joint Investment to Establish a Joint Venture with CH MODERN D]

Shanghai Milkground Food Tech announced that the joint investment to establish a joint venture with CH MODERN D has been terminated. After careful assessment and multiple internal discussions, CH MODERN D decided not to proceed with the plan to jointly invest in establishing a joint venture with the company. As of the announcement disclosure date, the relevant agreement has not yet been signed, the joint venture has not been established, and no substantial progress has been made. The termination of this joint investment matter will not have a substantial impact on the company's financial status and production operations, and there is no harm to the interests of the company and shareholders.

[Chongqing Changan Automobile: Controlling Subsidiary Changan Kaicheng Plans to Increase Capital and Expand Shares through Public Listing]

Chongqing Changan Automobile announced that its holding subsidiary Chongqing Changan Kaicheng is raising capital through public listing at Chongqing United Property Exchange Group Co., Ltd, introducing investors with a capital increase not exceeding 2.5 billion yuan. Among them, the company plans to contribute a total of no more than 0.5 billion yuan in Cash and intangible assets. China Changan Automobile Group Co., Ltd. and Southern Industrial Asset Management Co., Ltd. intend to participate in the capital increase, while Other investors are not yet certain. This transaction constitutes a related party transaction but does not constitute a major asset reorganization. After the capital increase is completed, Chongqing Changan Kaicheng will still be a holding subsidiary of the company. The company will hold the 33rd meeting of the 9th Board of Directors on December 17, 2024, to review and approve this proposal.

[Inner Mongolia Mengdian Huaneng Thermal Power Corporation: Plans to Introduce China Zhongyin Investment for Subsidiary Capital Increase of 0.9 billion Yuan for Market-oriented Debt-for-equity Swaps]

Inner Mongolia Mengdian Huaneng Thermal Power Corporation announced that to promote the transformation and development of New energy, expand capital size, and optimize the company's capital structure, it intends to introduce China Citic Financial Asset Investment Co., Ltd. (referred to as 'China Citic Investment') to increase the capital of its subsidiary, Inner Mongolia Northern Longyuan Wind Power Co., Ltd. (referred to as 'Longyuan Wind Power'), to implement market-oriented Debt-for-equity Swaps. The total amount of this capital increase is 0.9 billion yuan, which will all be contributed in Cash. The funds raised will be used entirely to repay the existing financial debts mainly from bank loans of Inner Mongolia Mengdian Huaneng, Longyuan Wind Power, and its subsidiaries within the consolidated scope. After the capital increase, Inner Mongolia Mengdian Huaneng will continue to be the controlling shareholder of Longyuan Wind Power, holding 78.31% equity, while China Citic Investment will hold 21.69% equity of Longyuan Wind Power. This capital increase does not constitute a major asset restructuring and does not constitute a related party transaction, and does not need to be submitted to the company's shareholders' meeting for approval.

[TaiLing Micro: The company has released a machine learning and artificial intelligence development platform TLEdgeAI-DK based on TL721x and TL751x chips.]

TaiLing Micro announced that it has launched a machine learning and artificial intelligence development platform TLEdgeAI-DK based on the TL721x and TL751x chips. This platform supports mainstream local AI models, such as Google's LiteRT and TVM, and is currently the world’s most energy-efficient smart IoT connection protocol platform. Users can quickly integrate the platform into actual product applications using the ML/AI SDK provided by the company along with the results of the trained models.

Equity Change

[Xiamen C&D Inc.: Plans to acquire 10% equity of Xiamen C&D Property for 3.066 billion yuan.]

Xiamen C&D Inc. announced that it plans to acquire 10% equity of Xiamen C&D Property held by its controlling shareholder, Jangho Group, for a price of 3.066 billion yuan. After the transaction is completed, the company will hold 64.654% equity in Xiamen C&D Property. Meanwhile, the Board of Directors plans to formulate a profit distribution proposal for the years 2024 and 2025: the profit distributed in cash each year will not be less than 30% of the distributable profit attributable to the shareholders of the listed company in the consolidated financial statements for that year, and the annual per share dividend will not be less than 0.7 yuan. This transaction constitutes a related party transaction but does not constitute a major asset restructuring. The company's Board of Directors voluntarily submits this related party transaction to the shareholders' meeting for deliberation. The evaluation report still needs approval from the State-owned Assets Supervision and Administration Commission of Xiamen Municipal People's Government.

[KAISA JiaYun Technology Inc.: The controlling shareholder has changed to Xin Yu Hang.]

KAISA JiaYun Technology Inc. announced that it has recently received an equity change report from JiaSu Network and Xin Yu Hang. Due to the judicial sale of shares held by JiaSu Network, Xin Yu Hang will hold 0.135 billion shares of the company, accounting for 21.31% of the total share capital, becoming the controlling shareholder of the company. Yin Jie will become the actual controller of the company.

[Musi Group: Plans to acquire overseas company equity and assets for 46 million Singapore dollars]

Musi Group announced that the company plans to use its wholly-owned subsidiaries Musi International Holdings Ltd. and Musi Bedding (Hong Kong) Ltd. to acquire 100% equity of Mattress International Pte. Ltd. and specific assets of PT. Tai Cheng Development for cash of 46 million Singapore dollars respectively. This transaction does not involve related party transactions nor constitutes a significant asset restructuring. The Board of Directors has authorized the company's chairman or his authorized representative to handle the relevant matters of this transaction. MIPL is a well-known local bedding and home goods sales company in Singapore, owning its own brands Maxcoil, Viro, and MooZzz. PTTC has a production base located in Batam Island, Indonesia, primarily producing bedding and home goods for MIPL.

Contract & Project Bidding

[Cloud Live Technology Group: Becomes the first successful candidate for the procurement project of Inspur Silicon Solar Cells Phase III]

Cloud Live Technology Group announced that the company has become the first successful candidate for the procurement project of Inspur Silicon Solar Cells Phase III and has entered the public announcement period. The tender purchaser is Shandong Inspur Ultra HD Video Industry Co., Ltd., with the symbol being silicon solar cells, quantity being 30 million pieces, and the public announcement period is from December 17, 2024 to December 20, 2024. The amount involved in this public announcement project is approximately 70.11 million yuan, accounting for 36.79% of the company's total audited revenue for 2023.

[Jiangsu Tongguang Electronic Wire&Cable: Wholly-owned subsidiary expected to win the State Grid procurement project totaling 0.196 billion yuan]

Jiangsu Tongguang Electronic Wire&Cable announced that its wholly-owned subsidiary Tongguang Qiangneng and Tongguang Cable participated in the 88th and 89th batches of procurement projects of State Grid Corporation for 2024, with a total expected bid amount of approximately 0.196 billion yuan, accounting for about 8.37% of the company's total audited revenue for 2023. This bid is expected to have a positive impact on the company's future operating performance, and the fulfillment of the contract does not affect the company's operational independence. Currently, this contract is still in the pre-bid announcement stage, with certain uncertainties and risks.

[Jangho Group: Subsidiary signs a curtain wall contract worth 0.485 billion yuan]

Jangho Group's wholly-owned subsidiary, Hong Kong Jangho Curtain Wall Engineering Co., Ltd., recently won the bid for the facade project of North District Hospital in Hong Kong and signed the construction contract, with a contract amount of HKD 0.525 billion (approximately RMB 0.485 billion), accounting for about 2.32% of the company's revenue for 2023. The project is located in the North District of New Territories, Hong Kong, with a total facade area of approximately 0.1 million square meters. The company has completed the contract signing, but there are risks such as macroeconomic changes and unforeseen or irresistible factors during contract performance, leading to uncertainties in performance.

[Power Construction Corporation of China, Ltd: Signed a 5.488 billion yuan subway contract]

Power Construction Corporation of China announced that the company has signed a contract with Belgrade Metro Company for the main line project of Phase 1, Section 2 of the Belgrade Metro Line 1 in Serbia, with a contract amount of approximately 5.488 billion yuan. The project is located in the main urban area of Belgrade, and the scope of work includes part of the vertical shaft, shield tunnel, above-ground section, and open-cut section geological exploration, construction drawing design, main structure construction, as well as public facilities relocation, temporary construction on site, camp construction, shield machine procurement, and segment plant construction. The contract period is expected to be about 45 months.

[Harbin Boshi Automation: Signed a 53.817 million yuan intelligent renovation contract]

Harbin Boshi Automation announced that the company recently received a commercial contract signed with Hunan Province Metallurgical Planning and Design Institute Co., Ltd., with a contract amount of 53.817 million yuan. The subject of the contract is the automated upgrade and transformation equipment installation of the intelligent (steel) physical inspection center, delivered in two phases, with the latest delivery date for Phase 1 being August 10, 2025, and for Phase 2 being January 1, 2026. The contract concerns the company's intelligent workshop project for physical inspection of steel in the steel production field and is a demonstration application project in relevant fields. If the project is successfully delivered, it is expected to achieve a lesser or unmanned workshop, helping users improve quality and efficiency, and promoting the intelligent manufacturing industry upgrade. The contract amount excluding tax is 47.9771 million yuan, accounting for 1.87% of the company's revenue for 2023, and is expected to have a positive impact on the company’s performance in 2025 and 2026.

[Jiangxi Hongcheng Environment: Consortium wins a 0.36 billion yuan project]

Jiangxi Hongcheng Environment's wholly-owned subsidiary, Jiangxi Hongcheng Environment Construction Engineering Co., Ltd., along with the Nanchang Urban Planning and Design Institute Group Co., Ltd. and the Jiangxi Survey and Design Research Institute Co., Ltd., formed a consortium and won the tender for the concession project of integrated water environment comprehensive treatment Phase 1 in the main urban area of Lepin City, with a total investment amount of 0.3595503 billion yuan. This project operates under a BOT model, with a concession period of 40 years, including a 2-year construction period. The implementation of the project can better ensure the scientific and efficient operation of the entire process of urban wastewater collection and treatment in Lepin City, Jiangxi Province, and achieve unified management of wastewater treatment plants and related drainage facilities under the company’s control. Taking on this project is key for the company to strengthen and expand its water affairs business and achieve the next stage of strategic development goals.

Stock price fluctuations

[5 consecutive limit-up trading of Shanghai Yimin Commercial Group: There are significant risks of speculation]

Shanghai Yimin Commercial Group issued a stock trade risk warning announcement, stating that the company's stock price has risen significantly recently, exceeding the price increase of most companies in the same industry, indicating a high risk of speculation. The company's current PE is high; as of the market close on December 17, 2024, the rolling PE is 141.50, and the turnover ratio on that day is 19.87%, both of which are significantly higher than the industry average.

[3 consecutive limit-up trading of HangZhou Nbond Nonwovens: Currently, the sales scale of Naqi Ke to Pang Dong Lai is relatively small and is expected to account for less than 1% of the company’s revenue in 2024]

HangZhou Nbond Nonwovens issued a stock trading risk warning announcement. Recently, the company noticed discussions on media platforms such as stock forums regarding the company’s wholly-owned subsidiary Hangzhou Guoguang Tourism Supplies Co., Ltd.’s delivery of goods from Naqi Ke to Pang Dong Lai. After internal checks and verification, it has been confirmed that the sales scale of Naqi Ke to Pang Dong Lai is currently small and is expected to account for less than 1% of the company’s revenue in 2024. The company is a professional enterprise engaged in the research, development, production, and sales of differentiated and personalized spunlace nonwoven materials and products. The spunlace nonwoven materials produced by the company are mainly applied in four major product areas: beauty care, industrial materials, household cleaning, and medical materials. The company's products are divided into two categories: spunlace nonwoven materials and spunlace nonwoven material products. Currently, the company's production and operations are all normal, and there have been no significant changes in the external environment.

Other products

[Chongqing Changan Automobile: The land and property assets of the Yubei factory are to be expropriated, and the total compensation amount is expected to be 2.558 billion yuan]

Chongqing Changan Automobile announced that, due to public interest needs, the People's Government of Yubei District, Chongqing City intends to requisition the land, buildings, and related附属资产 located at No. 579 Konggang Avenue, Yubei District, Chongqing City. The estimated total compensation for this requisition is 2.558 billion yuan, and the final compensation amount will be based on the formally signed requisition agreement between both parties. The company held the 33rd meeting of the 9th Board of Directors on December 17, 2024, to review and approve the "Proposal on the Disposal of Yubei Factory Land and Property Assets and Signing of the Requisition Agreement," agreeing to sign the above agreement with the Yubei District Housing and Urban-Rural Development Committee.

[Leshan Electric Power: The application for the issuance of A-shares to specific objects through a simplified procedure in 2024 has been accepted by the Shanghai Stock Exchange]

Leshan Electric Power announced that on December 17, 2024, it received a notice from the Shanghai Stock Exchange regarding the acceptance of the application for issuing securities by Leshan Electric Power Co., Ltd. on the Main Board of the Shanghai market. The Shanghai Stock Exchange has verified the prospectus and relevant application documents submitted by the company for the issuance of A-shares to specific entities through a simplified procedure for the year 2024 and determined that the application documents are complete and legally compliant. It has decided to accept the application and conduct a legal review. This issuance matter still requires approval from the Shanghai Stock Exchange and consent for registration from the China Securities Regulatory Commission before it can be implemented, and there is still uncertainty regarding whether it will pass the review and the timing of that.

[Vcanbio Cell & Gene Engineering Corp.,Ltd.: Wholly-owned subsidiary has received the drug clinical trial approval notice.]

Vcanbio announced that its wholly-owned subsidiary Wuhan Optics Valley Vcanbio Pharmaceutical Co., Ltd. received on December 16 the drug clinical trial approval notice issued by the National Medical Products Administration for VUM02 injection for the treatment of active moderate to severe ulcerative colitis. VUM02 injection is a new type of cell drug with independent intellectual property rights developed by the company, prepared from healthy newborn umbilical cord tissue, with planned clinical indications for active moderate to severe ulcerative colitis. There are no similar cell drugs on the market globally, and the most advanced similar drugs are in the clinical trial stage. The company's cumulative R&D investment for this project amounts to 3.2962 million yuan.

[Harbin Jiuzhou Group: Daqing wind power project enters subsidy directory.]

Harbin Jiuzhou Group announced that the company’s wholly-owned Daqing wind power project has entered the subsidy directory, which includes the Daqing Dagang wind power project and the Daqing Pingqiao wind power project, both having a grid-connected scale of 48 MW, with on-grid electricity prices of 0.61 yuan/kWh (including tax). As of November 30, 2024, the Daqing wind power project’s renewable energy subsidy arrears balance is approximately 0.31 billion yuan.

[Tongling Nonferrous Metals Group: Holding subsidiary China Railway Construction Copper Crown Mirador Copper Mine plans to suspend production for 15 days.]

Tongling Nonferrous Metals Group announced that the company received a report from its holding subsidiary China Railway Construction Copper Crown, stating that the Mirador Copper Mine plans to suspend production for 15 days starting December 16, 2024. Due to insufficient rainfall and a prolonged drought, the water levels at major hydroelectric power stations have decreased, leading to tight electricity supply, and Ecuador has implemented large-scale power outages/limitations. The Mirador Copper Mine's beneficiation dual system plans to suspend production for 15 days. ECSA will maintain regular communication with the Ecuadorian electricity authorities and continue to implement energy-saving measures, striving to resume production as soon as possible. The company anticipates certain impacts on its production operations and will closely monitor subsequent developments and fulfill its information disclosure obligations in a timely manner.