Core Viewpoint - *ST Zhang Stock has completed its restructuring plan, leading to the removal of the delisting risk warning by the Shenzhen Stock Exchange, effective February 12, 2026 [1] Group 1: Company Announcement - *ST Zhang Stock announced that its restructuring plan was executed successfully as of February 5, 2026 [1] - The company will have its stock trading suspended for one day on February 11, 2026, and will resume trading on February 12, 2026 [1] - The stock name will change from "*ST Zhang Stock" to "ST Zhangjiajie," while the security code remains "000430" [1] Group 2: Regulatory Context - The delisting risk warning was initially imposed on November 5, 2025, following a court ruling that accepted the company's restructuring application [1] - The removal of the delisting risk warning is in accordance with the Shenzhen Stock Exchange's listing rules, specifically Article 9.4.14, which states that the conditions triggering the warning have been eliminated [1] - The daily price fluctuation limit for the stock will continue to be set at 5% [1]

二级市场上，2月9日、10日，ST雪发接连斩获了两个涨停板。截至2月10日收盘，ST雪发收于涨停价 4.81元/股，总市值26.17亿元。 北京商报讯（记者 马换换 李佳雪）2月10日晚间，ST雪发（002485）披露公告称，近日，公司获悉， 广州中院已于2月10日在广州中院第二法庭公开宣判，公司关联方雪松控股集团有限公司、实际控制人 张劲等人集资诈骗、非法吸收公众存款、背信运用受托财产、妨害作证一案。 ST雪发表示，截至公告披露日，公司尚未收到相关判决书。张劲除为公司实际控制人外，不在公司担 任任何职务。公司具有完善的法人治理结构，依法建立健全了股东会、董事会及其专门委员会等规则制 度，能够实现董事会和管理层的正常运作；公司与控股股东等关联方在业务、人员、资产、机构、财务 等方面完全分开，具有独立完整的业务及自主经营能力。公司经营情况正常，关联方及张劲涉及案件的 判决不会对公司日常经营活动产生重大不利影响。 ...

Core Viewpoint - Hualan Co., Ltd. is expanding its presence in the "AI + Medicine" sector through the establishment of a joint venture focused on drug repurposing and pharmacovigilance services, despite facing internal dissent from two board members regarding the feasibility of this strategic move [1][4][11]. Group 1: Company Initiatives - Hualan Co., Ltd. has established a subsidiary, Hainan Lingqing Smart Pharmaceutical Technology Co., Ltd., to explore AI applications in the pharmaceutical industry [1][5]. - The company plans to collaborate with a technical team led by former CTO of Insilico LLC, Yu Kaixian, and Academician Liu Jun to set up a joint venture that will leverage knowledge graphs for drug-related services [1][4]. - The joint venture aims to provide intelligent solutions for drug development and safety management by integrating heterogeneous data sources [4][6]. Group 2: Investment and Financial Moves - Hualan Co., Ltd. has made significant investments in AI pharmaceutical companies, including a recent capital increase of 45 million yuan to Hainan Lingqing Smart, raising its registered capital to 500 million yuan [8][9]. - The company has also invested 20 million yuan in Kema Biotechnology to acquire a 9.53% stake, which includes a board seat and priority acquisition rights [7]. Group 3: Board Concerns - Two board members, Cui Ke and Yao Mingfang, have expressed concerns about the feasibility of the AI pharmaceutical initiatives, suggesting that the company should conduct thorough evaluations before proceeding [11][12]. - The board members have highlighted the high technical barriers and the need for stable resources and talent in AI pharmaceutical research, indicating potential operational pressures [6][12]. Group 4: Market Performance - Hualan Co., Ltd. has seen a significant increase in its stock price, with a cumulative rise of 68.9% from January 5 to February 10, outperforming the broader market [13]. - The company’s stock reached a historical high on February 9, signaling strong market expectations for its future performance [13][14].

公告显示，债券期限为3+2年，发行利率为1.7%，付息频率为按年支付，到期一次性还本。 北京商报讯（记者 马换换 李佳雪）2月10日晚间，宁德时代（300750）披露公告称，2月6日，公司发行 了2026年度第一期绿色科技创新债券，发行总额为50亿元，募集资金已于2月9日到账。 ...

北京商报讯（记者 刘宇阳 实习生 姚榕琰）2月10日，东北证券发布公告称，东北证券收到中国证监会《关于东北证券股份有限公 司在香港特别行政区设立东证国际金融控股有限公司的复函》。中国证监会对东北证券以自有资金出资5亿港元在香港特别行政区 设立东证国际金融控股有限公司（以下简称"东证国际"）事项无异议。东北证券应当按照香港特别行政区的法律法规和监管要求 做好东证国际的设立工作，并充分履行股东职责，健全对东证国际的合规管理与风险管控。 ...

Core Viewpoint - The logistics industry in China is projected to see significant growth by 2025, with a total social logistics volume of 368.2 trillion yuan, reflecting a year-on-year increase of 5.1% [1] Group 1: Logistics Volume Breakdown - Agricultural product logistics is expected to reach 5.5 trillion yuan, growing by 3.9% year-on-year [1] - Industrial product logistics will account for 324.6 trillion yuan, with a year-on-year growth of 5.3%, contributing 82% to the overall logistics growth [4] - Import logistics is projected at 18.5 trillion yuan, with a modest growth of 0.5% [1] - Recyclable resources logistics is anticipated to grow by 13.2%, indicating a strong demand for low-carbon and green products [4] - Logistics for units and residential goods is expected to reach 14.6 trillion yuan, with a year-on-year increase of 5.1% [1] Group 2: Industrial Growth Drivers - The demand for logistics in the equipment manufacturing and high-tech manufacturing sectors is becoming a core growth driver, with industrial robot logistics expected to grow by 28% and new energy vehicle logistics by 25.1% [4] - The logistics demand for green products such as wind turbines, lithium carbonate, and carbon fiber is projected to grow by over 40% [4] - The development of new industries is leading to higher product value and more refined transportation requirements, pushing logistics companies to enhance their service capabilities [4] Group 3: Import and Cost Trends - Import logistics is showing signs of recovery, with a year-on-year growth of 0.5% and a peak monthly growth of 8.5% in December [5] - The total logistics cost for 2025 is projected at 19.5 trillion yuan, with the logistics cost-to-GDP ratio decreasing to 13.9%, down by 0.2 percentage points [5] - Transportation costs remain stable at 7.6% of GDP, while storage costs have decreased by 0.2 percentage points to 4.6% of GDP [5] Group 4: Future Directions - The logistics sector is encouraged to implement the "Action Plan for Effectively Reducing Logistics Costs" to enhance infrastructure and improve service quality [6] - There is a focus on innovation to drive efficiency and reduce costs, promoting high-quality development in logistics and macroeconomic coordination [6]

Group 1 - The company Yiyi Co., Ltd. announced the termination of its plan to acquire 100% equity of Hangzhou Gaoye Family Pet Food Co., Ltd. through the issuance of shares and cash payment [1] - The planned transaction was not expected to constitute a related party transaction or a significant asset restructuring [1] - The decision to terminate the transaction was influenced by changes in Gaoye Family's sales model for cat litter during the 2025 Double Eleven event and the initial investment in promoting new cat food products [1] Group 2 - The company and the transaction counterpart were unable to reach an agreement on key commercial terms, including valuation, leading to the termination of the agreement [1] - A termination agreement was signed between the company and the transaction counterpart following discussions and evaluations [1]

人民银行指出，随着我国金融市场不断深化，直接融资加快发展，融资渠道更加丰富，居民储蓄资产在 银行存款与资管产品等金融资产之间的配置与选择会更加多元，这更多会直接影响银行负债端结构，但 不直接等价于整个金融体系和实体经济的流动性状况也会随之发生类似较大的变化。当前社会融资环境 持续较为宽松，金融支持实体经济力度稳固，将形式更为多元化的资产、负债合并观察，有利于更好全 面评估实际货币金融条件。 北京商报讯（记者 董晗萱）2月10日，人民银行发布2025年第四季度中国货币政策执行报告（以下简称 《报告》）。 《报告》专栏提到，2025年三季度，居民存款增速高位有所回落，各方关注增多，出现了一些关于银行 存款"流失"的探讨。过去一年资管类产品规模则增长较快。从资管产品与银行存款合并角度来看待这些 现象，可以更好观察金融体系流动性状况。 ...

Group 1 - The core point of the article is that Chengdu XianDao (688222) plans to invest 24 million yuan in Chengdu XianYan Biological Technology Co., Ltd. at a pre-investment valuation of 450 million yuan [2] - Chengdu XianYan is a subsidiary and related party of Chengdu XianDao, with a registered capital of 17.2408 million yuan, and aims to raise no more than 150 million yuan for its development [2] - The company has established an innovative technology system including novel small nucleic acid modification technology, extrahepatic delivery technology, and single-molecule dual-target regulation technology, focusing on chronic disease treatment [2] Group 2 - The investment will increase Chengdu XianDao's stake in Chengdu XianYan, which currently holds 23.2% of the equity, with the final ownership percentage to be determined based on the total financing amount and the new registered capital [2]

Group 1 - The core point of the article is that Shenghe Jingwei Semiconductor Co., Ltd. is set to undergo an IPO review on February 24, aiming to raise approximately 4.8 billion yuan for advanced packaging projects [1] - Shenghe Jingwei is a leading global provider of integrated circuit wafer-level advanced packaging services, focusing on 12-inch silicon wafer processing and offering wafer-level packaging (WLP) and multi-chip integration packaging [1] - The company aims to enhance the performance of high-performance chips, particularly GPUs, CPUs, and AI chips, through heterogeneous integration methods that exceed Moore's Law, achieving improvements in computing power, bandwidth, and energy efficiency [1] Group 2 - The IPO application was accepted on October 30, 2025, and entered the inquiry stage on November 14 of the same year [1] - The funds raised will be allocated to projects including three-dimensional multi-chip integration packaging and ultra-high-density interconnect three-dimensional multi-chip integration packaging [1]