Today's Focus

[Wens Foodstuff Group: Expecting a net income of 9 billion yuan to 9.5 billion yuan in 2024, turning losses into profits year-on-year]

Wens Foodstuff Group released its performance forecast, expecting a net income of 9 billion yuan to -9.5 billion yuan in 2024, compared to a loss of 6.39 billion yuan in the same period last year. During the reporting period, the company saw year-on-year growth in the sale of live pigs, and the average selling price of live pigs increased year-on-year. Notably, the net income for Q3 was 5.081 billion yuan, which implies that the Q4 net income is expected to be between 2.592 billion yuan and -3.092 billion yuan, a quarter-on-quarter decline of 39.15% to 48.99%.

[Jin Yun Laser: Actual controller Liang Wei sentenced to four years in prison for manipulating the securities market and fined 12 million yuan]

Jin Yun Laser announced that it recently received a first-instance "Criminal Judgment" issued by the Intermediate People's Court of Huai'an City, Jiangsu Province against its controlling shareholder and actual controller Liang Wei. Liang Wei was found guilty of manipulating the securities market and was sentenced to four years in prison, along with a fine of 12 million yuan; his illegal gains will be confiscated and turned over to the national treasury. Liang Wei does not serve as a director, supervisor, or senior management personnel of the company, and the aforementioned judgment is a personal action of the shareholder, which will not affect the company's current or future profits. Currently, the company's business operations are normal.

[After 6 days and 5 trading limits, Anyuan Coal Industry Group: Jiangxi Tungsten Holdings will become the company's controlling shareholder]

Anyuan Coal Industry Group announced that to further improve the layout of state-owned capital in Jiangxi Province and optimize the allocation and operational efficiency of state-owned assets, Jiangxi Energy Group agreed to transfer its 39.34% stake in Anyuan Coal Industry Group to Jiangxi Tungsten Holdings without compensation for state-owned equity. Upon completion of this equity change, Jiangxi Tungsten Holdings will hold 39.34% of Anyuan Coal Industry Group and will become its controlling shareholder. The actual controller of the company remains unchanged and is still the Jiangxi Provincial State-owned Assets Supervision and Administration Commission.

[2 consecutive boards of Shanghai Yimin Commercial Group: the company's stock price has large short-term fluctuations and there is no significant information that should be disclosed but has not been disclosed.]

Shanghai Yimin Commercial Group announced an abnormal movement, stating that the cumulative increase in the closing price of its stock has deviated by 20% over three consecutive trading days, with a cumulative turnover rate reaching 52.67%. The actual fluctuation of the stock price, after excluding the overall factors of the market and sector, is quite large. The company specifically reminds all investors to pay attention to stock investment risks, make prudent decisions, invest rationally, enhance risk awareness, and avoid blindly following trends. According to self-examination and verification, as of now, the company’s production and operation situation is normal, business activities are carried out in an orderly manner, and there have been no significant changes in the internal and external environment. After self-check and consultation with the controlling shareholder, Huaihai Group, and inquiry to the actual controller from the Huangpu District State-owned Assets Supervision and Administration Commission, it has been confirmed as of the disclosure date of this announcement that there is no significant information that should have been disclosed but was not.

[IKD Co., Ltd.: planning to purchase 71% equity of Zhaorbo, stock suspended.]

IKD Co., Ltd. announced that the company is planning to purchase 71% equity of Zhaorbo (Ningbo) Precision Electromechanical Co., Ltd. through the issuance of shares and cash payment, and the company intends to issue shares to raise matching funds. After the completion of this transaction, Zhaorbo will become a controlling subsidiary of the company. As this transaction is still in the planning stage, to ensure fair information disclosure and avoid causing abnormal fluctuations in the company's stock price, the company's stock, convertible bonds, and convertible bond conversions will be suspended from trading starting January 6, 2025, with an expected suspension time of no more than 10 trading days.

[Jiangyin Zhongnan Heavy Industries: to maximize shareholder value, intends to sell no more than 0.9247 million shares of XGIMI Technology.]

Jiangyin Zhongnan Heavy Industries announced that the company originally held 1,759,363 shares of XGIMI Technology, accounting for 2.51% of its total share capital. Since June 20, 2022, the company has sold a total of 834,646 shares of XGIMI Technology and currently holds 924,717 shares, approximately 1.32% of its total share capital. To maximize Shareholder value, optimize the company's asset structure, and improve asset liquidity and efficiency, the company plans to sell no more than 924,717 shares of XGIMI Technology. The Board of Directors has reviewed and approved this resolution and has submitted it to the Shareholders' Meeting for authorization of the management to handle this share sale. The scope of authorization includes but is not limited to determining the specific timing for the sale, trading methods, trading quantities, trading prices, etc. This trade does not constitute a related party transaction, nor does it constitute a major asset restructuring.

[7 consecutive boards of Fujian Dongbai: there are signs of market sentiment overheating and high speculation risks.]

Fujian Dongbai announced abnormal stock trading fluctuations and risk warnings. As of December 31, 2024, the number of shareholders of the company was 73,635, an increase of 53,350 from 20,285 as of September 30, 2024, with an increase of 263%. The increase in the number of shareholders is rapid. Considering that the stock price has closed at the daily limit price for 7 consecutive trading days since December 25, 2024, with a cumulative increase of 95.16%, which deviates from the same period’s SSE A Share Index by over 100%, there are signs of market sentiment overheating and high speculation risks.

[FS Development Investment Holdings: The company's current director was subjected to compulsory measures from March 18 to April 17, 2024, due to suspected illegal activities.]

FS Development Investment Holdings announced that during the period from March 18 to April 17, 2024, the current director Wang Zihao was subjected to compulsory measures by the authorities due to suspected illegal activities. Wang Zihao resigned from his position as a director of the company in December 2024 and no longer holds any position in the company.

[Farasis Energy (Gan Zhou) Co., Ltd.: The actual controller may change to the People's Government of Guangzhou, and the stocks will resume trading.]

Farasis Energy (Gan Zhou) Co., Ltd. announced that its controlling shareholder Hong Kong Farasis and its concerted actors Ganzhou Fuchuang, the actual controllers YUWANG and Keith D. Kepler, and the Industrial Control Group and its concerted actors Hengjian Industrial Control New Energy signed a share transfer agreement. Hong Kong Farasis will transfer its 56.8225 million shares (4.65% of the total shares) to Hengjian Industrial Control New Energy; Ganzhou Fuchuang will transfer its 4.2827 million shares (0.35% of the total shares) to Hengjian Industrial Control New Energy. The Industrial Control Group and its concerted actors plan to become the controlling shareholder of the company. If this share agreement transfer and block trade are successfully completed, the company's controlling shareholder may change to Guangzhou Industrial Investment Holding Group Co., Ltd., and the actual controller may change to the People's Government of Guangzhou. The company's stocks will resume trading on January 6, 2025.

[Zhejiang Changsheng Sliding Bearings: The business in the robotics field accounts for less than 1%.]

Zhejiang Changsheng Sliding Bearings released an unusual movement announcement, noting that there has been high market attention on robotics-related hot concepts recently. The company's main business is the research and development, production, and sales of self-lubricating bearings and high-performance polymers, with main products including self-lubricating bearings, low-friction subcomponents, and related precision castings. The company's business in the robotics field is in the small-batch production and sales stage, accounting for less than 1% of the main business revenue, which will not have a significant impact on performance.

Equity Change

[Wisesoft Co., Ltd.: Sichuan University plans to transfer its 6.97% stake in the company to the Sichuan Provincial Department of Finance without compensation.]

Wisesoft Co., Ltd announced that its second largest shareholder, Sichuan University, signed the "State-owned Property Unconditional Transfer Agreement" with the Sichuan Provincial Department of Finance on December 31, 2024. Sichuan University plans to transfer its 6.97% stake in the company to the Sichuan Provincial Department of Finance through an unconditional transfer. In order to optimize and integrate state-owned resources, the Sichuan Provincial Department of Finance plans to invest the 6.97% shares of Wisesoft Co., Ltd obtained into the Sichuan Industry Revitalization Fund Investment Group Co., Ltd. (referred to as "Sichuan Revitalization Group") in the form of private equity. After this transfer, the company's controlling shareholder and actual controller will remain unchanged.

Hangzhou Raycloud Technology Co.,Ltd plans to acquire 100% equity of Yitao (ShanDong) Investment Management Co., Ltd for 0.2 billion yuan.

Hangzhou Raycloud Technology Co.,Ltd announced that the company recently signed a "Share Acquisition Framework Agreement" with Yitao (ShanDong) Investment Management Co., Ltd and its Shareholders, intending to acquire 100% equity of the target company through cash payment and issuance of shares, with the total transaction price temporarily set at 0.2 billion yuan. After the completion of this transaction, the target company will become a wholly-owned subsidiary of the company and is expected not to constitute a major asset restructuring. The main Business of the target company focuses on the development and Operation of e-commerce Saas Software products, with product sales settled directly with e-commerce platforms, and the main payers in each period include well-known domestic e-commerce platforms such as Alibaba, Taobao, Douyin, and PDD Holdings.

Shanghai Sanmao Enterprise: Shareholder signs custody agreement, the company's indirect controlling shareholder changes to the Electromechanical Group.

Shanghai Sanmao announced that the company received a notice from its controlling shareholder, Light Textile Group. Light Textile Group signed a "Custody Agreement" with the Chongqing State-owned Assets Supervision and Administration Commission, Yufu Holdings, and the Electromechanical Group, stipulating that the Chongqing State-owned Assets Supervision and Administration Commission and Yufu Holdings would entrust the management of Light Textile Group to the Electromechanical Group, exercising shareholder and general meeting rights/powers other than shareholder income rights and the disposal rights of the custodial target shares, and fulfilling related shareholder and general meeting obligations. After the completion of this custody, the Electromechanical Group will be able to indirectly control 25.95% of the voting rights of the company through Light Textile Group, becoming the indirect controlling shareholder of the company, but the company's controlling shareholder will still be Light Textile Group, and the actual controller will still be the Chongqing State-owned Assets Supervision and Administration Commission.

Increase or Decrease of Shareholding & Share Repurchase

China Coal Xinji Energy: The controlling shareholder intends to increase its stake in the company by 0.25 billion yuan to -0.5 billion yuan.

China Coal Xinji Energy announced that its controlling shareholder, China Coal, intends to increase its holdings of the company's A shares through centralized bidding, with a total purchase amount not less than 0.25 billion yuan and not more than 0.5 billion yuan, and the number of shares purchased shall not exceed 2% of the company's total share capital.

【Tiandi Science & Technology: Shareholder Chengtong Financial Holding has increased its shareholding in the company to 5%】

Tiandi Science & Technology announced that the company has received a simplified equity change report submitted by Shareholder Peking Chengtong Jin Control Investment Co., Ltd. On December 31, 2024, Chengtong Jin Control increased its shareholding in the company by 4.1387 million shares through a centralized bidding method in the secondary market, accounting for 0.10% of the company's total share capital, bringing its holding ratio to 5.00%. This equity change is an increase in shareholding, funded by Chengtong Jin Control's own funds, which does not involve a mandatory offer and will not lead to any changes in the company’s controlling shareholder or actual controller.

Operation & Performance

【Beibu Gulf Port: Cumulative cargo throughput in 2024 increased by 5.61% year-on-year】

Beibu Gulf Port announced that the cargo throughput in December 2024 was 29.0521 million tons, an increase of 3.22% year-on-year; the cumulative cargo throughput for 2024 reached 0.328 billion tons, an increase of 5.61% year-on-year.

【Chongqing Changan Automobile: Cumulative sales in 2024 reached 2.6838 million vehicles, with a year-on-year increase of 5.12%】

Chongqing Changan Automobile announced that sales in December 2024 totaled 0.2507 million vehicles, a year-on-year increase of 16.55%. Among them, sales of new energy vehicles were 0.0913 million vehicles. Cumulative sales from January to December 2024 reached 2.6838 million vehicles, with a year-on-year increase of 5.12%, including cumulative sales of new energy vehicles of 0.7346 million vehicles.

【Guangzhou Automobile Group: Vehicle sales in December 2024 increased by 9.30% year-on-year】

Guangzhou Automobile Group announces that the number of vehicles produced in December 2024 was 0.2072 million, a decrease of 13.18% year-on-year, with a cumulative production of 1.9166 million vehicles for the year, down 24.21% year-on-year; in December, vehicle sales were 0.2832 million, an increase of 9.30% year-on-year, with a cumulative sales for the year of 2.0031 million, a decrease of 20.04% year-on-year. Among them, the sales of new energy vehicles in December were 0.0773 million, an increase of 31.74% year-on-year, with a cumulative sales for the year of 0.4547 million, a decrease of 17.26% year-on-year.

Yutong Bus Co., Ltd.: December sales increased by 82.95% year-on-year.

Yutong Bus Co., Ltd. released its production and sales data report for December 2024, with a production volume of 6,904 vehicles, a year-on-year increase of 60.00%, including 2,879 large buses, 2,570 medium buses, and 1,455 light buses. The sales volume was 8,615 vehicles, a year-on-year increase of 82.95%, including 4,046 large buses, 3,089 medium buses, and 1,480 light buses.

Whirlpool: Estimated net profit attributable to parent company in 2024 is expected to increase by about 122%.

Whirlpool announced that it expects the net profit attributable to the owners of the parent company for the year 2024 to be around 0.18 billion yuan, an increase of approximately 98.8673 million yuan compared to the same period last year, representing a year-on-year increase of about 122%. The main reasons for the performance increase include improved operations and fluctuations in Exchange Rates. In terms of operational improvements, the company continues to deepen customer cooperation, enhance R&D innovation, promote new project development, optimize revenue structure, explore cost reduction opportunities, improve organizational efficiency, and control unnecessary expenses. Regarding Exchange Rates, significant fluctuations occurred in the USD to RMB exchange rate during the reporting period, and Forex fluctuations had a positive contribution to the company's profits during this period.

Other products

China Merchants Expressway Network Technology Holdings: Approval granted by the China Securities Regulatory Commission for public issuance of corporate bonds to professional investors.

China Merchants Expressway Network Technology Holdings announced that the company received approval from the China Securities Regulatory Commission on January 3, 2025, agreeing to the company's application for public issuance of CSI Enterprise bond Index with a total face value not exceeding 10 billion yuan to professional investors. This issuance of CSI Enterprise bond Index must be conducted strictly in accordance with the prospectus submitted to the Shenzhen Exchange. This approval is valid for 24 months from the date of registration consent, and the company can issue CSI Enterprise bond Index in tranches within the validity period.

[*ST Gome Telecom Equipment: The company's stock may face the risk of being delisted due to a market cap below 0.5 billion yuan or a stock price below 1 yuan]

*ST Gome Telecom Equipment announced that the total market cap of its stock on January 3, 2025, was 0.271 billion yuan, which has been below 0.5 billion yuan for 15 consecutive trading days. Even with five consecutive trading days of hitting the upper limit, the company will still face mandatory delisting due to the market cap being below 0.5 billion yuan for 20 consecutive trading days. Furthermore, the closing price of the stock on January 3, 2025, was 0.95 yuan, the first time it has fallen below 1 yuan, creating the risk of being delisted if it remains below 1 yuan for 20 consecutive trading days. According to regulations, if a listed company has more than two delisting conditions, the stock will be delisted based on the first condition that is met. Stocks of companies subject to mandatory delisting will not enter a delisting arrangement period. The company's Board of Directors will fulfill its information disclosure obligations promptly as per relevant regulations. Investors are advised to pay attention to investment risks.

[China Resources Double-Crane Pharmaceutical: Wholly-owned subsidiary Famotidine injection passes the consistency evaluation for quality and efficacy of generic drugs]

China Resources Double-Crane Pharmaceutical announced that its wholly-owned subsidiary Shuanghe Limin has received the "Drug Supplement Application Approval Notice" issued by the National Medical Products Administration for Famotidine injection, which has passed the consistency evaluation for the quality and efficacy of generic drugs. This drug is mainly used for upper gastrointestinal bleeding caused by peptic ulcers, among other conditions. Shuanghe Limin initiated the consistency evaluation for this drug in 2022 and submitted the application in June 2023, receiving approval in December 2024. The company has invested a total of 4.2704 million yuan in research and development. Passing this consistency evaluation will benefit future market sales and competition.

[Beijing Aosaikang Pharmaceutical: Subsidiary Malibavir tablet receives notification of acceptance for drug registration listing license application]

Beijing Aosaikang Pharmaceutical announced that its wholly-owned subsidiary Jiangsu Aosaikang Pharmaceuticals Co., Ltd. recently received the "Acceptance Notice" for the listing license application for Malibavir tablet issued by the National Medical Products Administration. Malibavir is an antiviral drug against human CMV, used to treat cytomegalovirus (CMV) infections and/or diseases following hematopoietic stem cell transplantation or solid organ transplantation. This listing application has been accepted by the CDE, making it the second of its kind in the country. If successfully listed, it will increase treatment options for patients, meet the demand for clinical medication products, and further expand the company's influence in the anti-infection product field.

[Jiangsu Hengrui Pharmaceuticals: HRS-6768 injection clinical trial approved]

Jiangsu Hengrui Pharmaceuticals announced that recently, its subsidiary Tianjin Hengrui Pharmaceuticals Co., Ltd. received the "Drug Clinical Trial Approval Notice" approved and issued by the National Medical Products Administration regarding HRS-6768 injection, which will begin clinical trials shortly. HRS-6768 injection is an innovative class I radioactive therapy chemical drug developed independently by the company, and no similar products have been approved for listing domestically or internationally. This product is suitable for patients with advanced solid tumors who are positive for fibroblast activation protein.