Yahui Long: Suspected of Violations and Irregularities in Information Disclosure, Investigated by the CSRC
Today's Focus
Tianchen New Materials (300169.SZ) announced that the company received a notice of investigation from the China Securities Regulatory Commission (CSRC) on February 6 due to suspected violations and illegalities in information disclosure. The CSRC has decided to initiate an investigation into the company. This investigation may involve undisclosed related-party transactions for the fiscal year 2023. Currently, the company's production and operations remain normal, and the investigation is not expected to have a significant impact on its regular business activities. The company will actively cooperate with the investigation and strictly fulfill its information disclosure obligations.
Yahui Long announced that on February 6, 2026, the company received a 'Notice of Investigation' from the China Securities Regulatory Commission (CSRC). Due to suspected violations and illegalities in information disclosure, and in accordance with relevant laws and regulations, the CSRC has decided to initiate an investigation into the company.
Dongtian Micro (301183.SZ) announced that the company plans to sign a 'Project Investment Agreement' with the People's Government of Daojiao Town, Dongguan City, to invest in the construction of the 'Dongtian Micro Global R&D Center and South China Manufacturing Headquarters Project' in Changping Village, Daojiao Town, Dongguan City. The total investment for the project is 4 billion yuan and will be implemented by the company’s wholly-owned subsidiary, Guangdong Dongtian Micro Intelligent Technology Co., Ltd. The planned investment amount is 4 billion yuan, primarily focusing on the research, development, manufacturing, and sales of precision optical components for consumer electronics and optical communications.
Lü Tong Technology (301322.SZ) announced that Lü Tong Industrial Fund plans to invest 10 million yuan in Shenghao Optoelectronics together with related parties Chuangyu Mingjing, Chuangyu Mingsheng, and 13 other investors. The fund will subscribe to an additional registered capital of 802,600 yuan, holding 0.6754% equity in Shenghao Optoelectronics after the capital increase. Shenghao Optoelectronics’ core business involves the research, development, manufacturing, and sales of optical communication chip testing equipment, as well as optical chip testing outsourcing services based on self-developed equipment. Over the past three years, Shenghao Optoelectronics has consistently ranked among the top domestic companies in terms of optical chip testing equipment shipments and has established partnerships with several leading domestic optical chip enterprises. In terms of testing outsourcing, with the expansion of downstream high-speed optical chip production capacity, outsourcing services have grown rapidly and have become one of the company’s key revenue sources.
Tianzhong Jingji (300461.SZ) announced that eight creditors of its former controlling subsidiary, Shenzhen Youfu Intelligent Equipment Co., Ltd., have jointly filed a lawsuit against the company, involving an amount of 108 million yuan. It is possible that this litigation may have a certain impact on the company’s current or future profits.
Xinwangda (300207.SZ) announced that its subsidiary, Xinwangda Power (defendant), reached a settlement with Weirui Electric (plaintiff) during the first trial stage and signed a 'Settlement Agreement.' The plaintiff will withdraw the lawsuit after the 'Settlement Agreement' takes effect. The amount claimed by the plaintiff was 2.314 billion yuan. According to the 'Settlement Agreement,' both parties agreed to recognize actual costs, considering the warranty reserves already accrued by the company, the recoverable value of the battery packs involved after the resolution of the matter, and potential subsequent expenses. The settlement is expected to impact the company’s attributable net profit for 2025 by 500 million to 800 million yuan.
Longyun Co., Ltd. announced that it plans to acquire 58% of Yuheng Film & TV through the issuance of shares to Shanghai Bingchang and Duan Zekun. Based on the target company’s historical performance, its overall valuation is estimated to range between 450 million and 530 million yuan. The target company specializes in variety show production, TV drama production, live-streaming e-commerce, and short video creation. After the transaction, the listed company’s main business will extend to the 'entire content production chain,' adding a core segment focused on film and television content production and operation. The company’s stock will resume trading on February 9, 2026.
Hengrui Pharma (600276.SH) announced that its HRS-4642 Injection has been included in the list of breakthrough therapies by the Center for Drug Evaluation of the National Medical Products Administration. The proposed indication is for first-line treatment of advanced or metastatic pancreatic cancer carrying the KRAS G12D mutation, used in combination with gemcitabine and nab-paclitaxel. To date, the cumulative R&D investment for the related projects amounts to approximately 254 million yuan. Upon inquiry, no similar drugs have been approved for marketing domestically or internationally.
Investment & Agreements
Jinghe Integration (688249.SH) announced that it plans to invest 2 billion yuan to acquire 100% equity in Jingyi Integration Circuit Co., Ltd., through share transfer and capital increase, bringing it under the company’s consolidated financial statements. The investment was approved at the thirtieth meeting of the Second Board of Directors and does not require shareholder approval. After the completion of the investment, Jingyi Integration will become a wholly-owned subsidiary of the company.
Zhixin Co., Ltd. (603352.SH) announced that it plans to increase capital in its wholly-owned subsidiary, Jinhua Zhixin, which will serve as the implementing entity for the 'Automotive Stamping and Welding Parts Project.' The total investment amount will not exceed 1.1 billion yuan. The project will procure various advanced equipment, add production lines and workstations, and establish production capabilities for automotive parts and automotive seat frames. The construction period is 36 months, with an expected start date of July 1, 2026.
Wan Tong Expressway (600012.SH) announced that the company plans to invest approximately RMB 5.42 billion in the reconstruction and expansion project of Anhui Section of G30 Lianhuo Expressway. Among this, the capital funds will be about RMB 1.084 billion, accounting for 20% of the total investment, with the remaining RMB 4.336 billion to be financed through bank loans and other means. The project is expected to commence construction in 2026 and open to traffic by 2029. This engineering initiative aims to enhance road efficiency and service levels, strengthen the company’s competitive position within the road network, promote high-quality economic and social development in the surrounding areas, and ensure the healthy and sustainable growth of the company. The announcement also highlighted potential risks including policy, operational, and interest rate risks.
Xinzhi Group (002664.SZ) announced that its wholly-owned subsidiary, Xinzhi Motor (Chongqing) Co., Ltd., intends to establish a wholly-owned subsidiary named Xinzhi Overseas Management Co., Ltd. (tentative name) in Singapore as an intermediary entity. This entity, together with another wholly-owned subsidiary, Zhejiang Xinge Refrigeration Equipment Technology Co., Ltd., will set up Xinzhi Motor (Thailand) Co., Ltd. (tentative name). Through these entities, the company will ultimately invest in and construct the production base for the Thailand Stator and Rotor Core Factory Project. The total investment for this overseas project amounts to USD 40 million. On the same day, the company announced its plan to increase the capital of Xinzhi Motor (Chongqing) Co., Ltd. by RMB 200 million to enhance its regional supporting services and capabilities. After the capital increase, the company will still hold 100% of its shares.
Yi Wan Yi Chuang (300792.SZ) announced that the company plans to acquire 100% of the equity of Lianshi Chuanqi through a combination of share issuance and cash payment from five counterparties: Yang Guanghong, Shengming Queqi, Queqi Electronics, Shengming Electronics, and Jingheng Zhongdao. Concurrently, it will raise complementary funds. Lianshi Chuanqi is an intelligent marketing service provider driven by AI algorithms, offering brand clients comprehensive digital marketing solutions ranging from strategy formulation, content creation, precise targeting, to performance attribution, helping brands achieve both awareness and effectiveness. This move will significantly enhance the professional service capability of the listed company in the vertical field of advertising placement within e-commerce agency operations.
Zhenyu Technology (300953.SZ) announced that its wholly-owned subsidiary plans to invest in constructing a precision transmission components manufacturing base in Thailand with an annual production capacity of 15 million units. The project will be implemented in phases, with a total investment not exceeding USD 150 million. Phase one of the project is planned to have a total investment not exceeding USD 75 million, with an expected construction period of 1.5 years.
Juhua Technology (300360.SZ) announced that the company intends to subscribe to a fund share worth RMB 10 million as a limited partner using its own funds. It will invest in Qingdao Houji Hengtuo Venture Capital Fund Partnership (Limited Partnership), representing 13.8870% of the total subscribed capital of the fund. The fund will exclusively invest in Interstellar Glory Aerospace Technology Group Co., Ltd. via the acquisition of existing shares.
Increases/Decreases & Buybacks
Husi Industry announced that the National Integrated Circuit Industry Investment Fund Co., Ltd. plans to reduce its holdings by no more than 3% of the company's shares over the next three months due to its management needs. Following the disclosure of this announcement, the reduction will occur through block trading or centralized bidding after 15 trading days, involving no more than 99.1507 million shares, equivalent to 3% of the company's total share capital.
Lushan New Materials (603051.SH) announced that Wang Jiasheng, the controlling shareholder and actual controller, along with Lushan Information Consulting Co., Ltd., a concerted actor, plans to collectively reduce their holdings by no more than 4,848,986 shares, representing 3% of the company's total share capital, through centralized bidding and block trading from March 10, 2026, to June 9, 2026. Specifically, Wang Jiasheng intends to reduce his holding by no more than 4,638,864 shares (2.87%), while Lushan Information plans to reduce its holding by no more than 210,122 shares (0.13%). All shares were obtained prior to the IPO.
Contracts & Project Bids
Tongguang Cable (300265.SZ) announced that its wholly-owned subsidiaries, Tongguang Qiangneng and Tongguang Cable, participated in the tender organized by State Grid Corporation of China and were listed as pre-qualified bidders. Tongguang Cable has been pre-awarded contracts worth RMB 19.12 million in optical cable projects, Tongguang Qiangneng in conductor projects worth RMB 65.29 million, and Tongguang Cable in OPGW optical cable and accessory projects worth RMB 18.81 million and RMB 5.04 million, respectively. The total pre-award amount is approximately RMB 108.26 million, accounting for 4.18% of the company's audited total revenue for 2024. This bid win is expected to positively impact the company’s future operating performance, but there are uncertainties associated with contract fulfillment.
Abnormal stock price fluctuations
Hangdian Shares (603618.SH), which saw its stock price soar over six consecutive trading sessions with five limit-up closes, announced that its stock price had risen significantly over a short period, surging by a cumulative 66.79% between January 30 and February 6, 2026, significantly outpacing peer-listed companies. The company noted heightened market attention on the supply-demand dynamics and price fluctuations of telecom fiber optic cables, as well as products related to computing data centers. Upon self-inspection, the company confirmed that its core businesses remain focused on power transmission and distribution electricals, optical communications, and electronic information materials. Optical communications contributed RMB 329.9299 million in revenue in 2024, representing only 3.73% of the company’s audited total revenue for the year, a relatively small proportion. As of now, the company's main business has not changed. Investors are advised to be mindful of investment risks, make rational decisions, and exercise caution.
Financing & Private Placements
Xiamen Xiangyu: Plans to Publicly Issue Corporate Bonds of up to 10 billion yuan. Xiamen Xiangyu announced that the company intends to publicly issue corporate bonds of no more than 10 billion yuan, which will be used for repaying corporate debt and replenishing working capital.
Others
De Shi Co., Ltd.: Vice President Wang Haibin and Yan Shiming Dissolve Marriage; Plan to Transfer 480,000 Company Shares to Yan Shiming. De Shi Co., Ltd. (301158.SZ) announced that its Vice President and Board Secretary, Wang Haibin, and Yan Shiming have dissolved their marriage and made relevant arrangements regarding share division and other matters. Wang Haibin plans to transfer 480,000 company shares to Yan Shiming. After the division, Wang Haibin will directly hold 830,300 shares of the company (accounting for 0.5521% of total shares), and Yan Shiming will directly hold 480,000 shares (accounting for 0.3192% of total shares). Following this change in equity, Wang Haibin and Yan Shiming will continue to jointly abide by the provisions on directors and senior management share reductions as outlined in 'Regulatory Guidance 18'.
Tai'en Kang: Wholly-Owned Subsidiary Receives Drug Registration Certificate for Minoxidil Lotion. Tai'en Kang (301263.SZ) announced that its wholly-owned subsidiary, Huabo Kaisheng, recently received the 'Drug Registration Certificate' for Minoxidil Lotion issued by the National Medical Products Administration. This drug is classified as a Category 3 chemical pharmaceutical with specifications of 60ml:1.2g and 60ml:3.0g, and registration numbers H20263325 and H20263326 respectively. Minoxidil is a commonly used topical treatment for hair loss, and it is expected that the domestic market size for hair loss treatments will grow. Currently, 31 companies in China have obtained registration certificates for this drug. However, future sales of this product remain uncertain due to factors such as industry policies and market conditions.
Jiuzhou Tong: Subsidiary's Application for Market Approval of Betahistine Hydrochloride Tablets Accepted by the National Medical Products Administration. Jiuzhou Tong (600998.SH) announced that its holding subsidiary, Beijing Jingfeng Pharmaceutical Group Co., Ltd., received the 'Notice of Acceptance' for the application to market Betahistine Hydrochloride Tablets, issued by the National Medical Products Administration on February 5, 2026. The drug is primarily used to treat Meniere's syndrome, vascular headaches, and symptoms associated with cerebral arteriosclerosis, and is listed in the Class A national medical insurance program and the National Essential Medicines List. Jiuzhou Tong is actively expanding its self-production and OEM businesses in the pharmaceutical industry. In the first three quarters of 2025, the self-production and OEM business in the pharmaceutical industry achieved revenue of 2.3 billion yuan, representing a year-on-year increase of 9.93%. It should be noted that this drug still needs to undergo multiple stages such as review and approval, and the duration of the approval process, the outcome of the review, as well as the specific sales situation after the drug is approved, are all uncertain. Therefore, it will not impact the company’s operating performance in the short term.
