Group 1 - The company plans to publicly transfer 55% of its subsidiary, Qingdao Aokema Information Industry Park Co., Ltd., with a starting price of 92.4591 million yuan, after which it will no longer hold any equity in the subsidiary [1][4] - The transaction aims to optimize the company's asset structure and resource allocation, potentially leading to positive impacts on the company's financial results if completed successfully [4] - The Information Industry Park Company, established in May 2014, primarily generates income from rental revenues of the Laoshanshi Industrial Park, which was fully developed in 2019 [4] Group 2 - The company has faced declining performance, with operating revenue dropping from 9.567 billion yuan in 2022 to 7.816 billion yuan in 2024, and net profit attributable to shareholders decreasing from 310 million yuan in 2020 to a loss of 485.254 million yuan in 2024 [5] - In the first three quarters of this year, the company reported an operating revenue of 5.671 billion yuan, a year-on-year decrease of 11.14%, and a net loss of 9.0591 million yuan compared to a profit of 2.8266 million yuan in the same period last year [5] - The company's financial struggles are evident, with a net profit of 2 million yuan in 2024 and a projected loss of 135.61 million yuan in early 2025 [4][5]

Core Viewpoint - Huayi Brothers Media Co., Ltd. is facing significant financial difficulties, including a court-ordered execution amounting to 74.73 million yuan and a history of substantial losses over recent years [1][2]. Financial Performance - For the first three quarters of 2025, Huayi Brothers reported revenue of 215 million yuan, a year-on-year decline of 46%, and a net loss attributable to shareholders of 114 million yuan, which represents a 168% increase in losses compared to the previous year [2]. - Cumulatively, from 2018 to 2024, the company has incurred losses exceeding 8.2 billion yuan [2]. Debt and Liabilities - As of the end of the third quarter, Huayi Brothers' debt-to-asset ratio reached 87.69%, indicating a high level of financial leverage [3]. - The company has overdue debts totaling 52.5 million yuan, which exceeds 10% of its audited net assets for 2024 [3]. Shareholder and Stock Information - The company's controlling shareholder, Wang Zhongjun, has 154 million shares set for auction at a starting price of 1.9 yuan per share, totaling approximately 292.4 million yuan, which is a 14.8% decrease from the initial auction price of 2.23 yuan per share [1]. - As of December 24, the stock price of Huayi Brothers was 2.13 yuan per share, with a total market capitalization of approximately 5.91 billion yuan [2].

Core Viewpoint - The board of directors of Dream Jie Co., Ltd. (002397) held a meeting on December 22, 2025, where a proposal to amend the company's articles of association was passed despite dissent from board member Chen Jie, who raised concerns about the concentration of power and governance issues within the board [1][2][3]. Group 1: Board Meeting and Voting Outcomes - The board meeting was attended by all 8 directors, with independent director Qin Zheng participating via remote voting [1]. - The proposal to amend the articles of association was approved with a vote of 7 in favor, 1 against, and 0 abstentions [2]. Group 2: Opposition and Concerns Raised - Chen Jie voted against the proposal, arguing that it would allow a minority to control the board, undermining the interests of all shareholders [3]. - The amendment reduces the board from 11 to 7 members, potentially giving Chairman Jiang Tianwu disproportionate control over board operations [3]. Group 3: Qualifications of Board Members - Chen Jie expressed concerns about Jiang Tianwu's qualifications to serve as a non-independent director, citing past regulatory penalties for failure to disclose non-operational related transactions and other violations [4][6]. - Chen Jie highlighted that Jiang Tianwu's continued role as chairman could jeopardize the company's governance and the interests of minority investors [4][6]. Group 4: Allegations and Company Response - Chen Jie has been a vocal critic, having voted against various proposals since joining the board, and has made serious allegations against Jiang Tianwu and other executives, including contract fraud and misappropriation of funds [8][9]. - Dream Jie Co., Ltd. issued a statement denying Chen Jie's allegations, asserting that they are unfounded and damaging to the company's reputation [9]. Group 5: Company Performance and Financials - Dream Jie Co., Ltd. has faced declining revenues, with sales dropping from 2.463 billion to 1.715 billion from 2021 to 2024, and consecutive losses in 2021 and 2022 [9]. - Despite a small profit in 2024, the company closed over 400 stores, and revenue for the first three quarters of 2025 still showed a decline of 7.97% year-on-year [9].

麒麟被警告并罚款5万元，时任贵阳银行兴仁支行行长杨春被警告，显示基层信贷风控体系存在系统性 漏洞。 一天内贵阳银行又收到几张罚单！12月23日，据国家金融监督管理总局遵义监管分局行政处罚信息公开 表显示，贵阳银行习水支行因"违规收取小微企业贷款承诺费"被罚款20万元；时任贵阳银行习水支行行 长李伟同样因此被警告。与此同时，贵阳银行正安支行因"贷款项目资本金未真实入账"被罚款30万元； 时任贵阳银行正安支行行长冯在稳同样因"贷款项目资本金未真实入账"被警告。 | 序 | 当事人名称 | 行政处罚决 | 主要违法违 | 行政处 | 作出决 | | --- | --- | --- | --- | --- | --- | | 를 | | 定书文号 | 规行为 | 罚内容 | 定机关 | | 1 | 贵阳银行股 份有限公司 | 遵金罚决字 (2025) 31 | | 罚款20 | | | | | | | 万元 | | | | 习水支行 | 를 | 违规收取小 | | | | | 李伟(时任 贵阳银行股 | 遵金罚决字 | 微企业贷款 承诺费 | 警告 | | | 2 | 份有限公司 | (2025) 32 | | | ...

12月23日，北大医药（000788）披露关于仲裁事项进展的公告。 公告显示，公司于2025年12月19日收到重庆仲裁委员会送达的《重庆仲裁委员会参加仲裁通知书》及相关材料，重庆西南合成制药有限公司(以下简称"重 庆合成")向重庆仲裁委员会提出了相关仲裁请求，公司已于近日向重庆仲裁委员会提出仲裁反请求并获受理。 北大医药请求裁决对《资产转让协议》第5.5条解除后相关人员的人力成本进行清算，并由重庆合成承担相关人员在前述合同条款解除之前的工作年限对 应的经济补偿和其他解除劳动合同可能承担的费用。 北大医药提出，2015年5月，北大医药与重庆合成签订《资产转让协议》，将相关原料药业务经营性资产转让给重庆合成，并在协议第5.5条约定了原料药 业务相关人员随标的资产一并转移至重庆合成。 在该协议签订后，北大医药将约定资产全部移交给了重庆合成，自资产移交之后，相关人员的工资、社保费用等均由重庆合成实际承担。 现在，重庆合成提出解除《资产转让协议》第5.5条，该诉求系重庆合成单方面提出，该条款解除后，相关人员劳动关系转移给北大医药，而北大医药目 前无法给予适当岗位安置人员，故必然产生人员解聘的成本费用，故应当对《资产转让 ...

Group 1 - The core viewpoint of the article is that Sunac China has successfully completed its overseas debt restructuring, which has significantly alleviated the company's debt risks and improved its capital structure [1][2] - Sunac China announced that approximately $9.6 billion of existing debt has been fully released and waived, with the restructuring effective as of December 23 [1] - The company has issued mandatory convertible bonds totaling approximately $9.659 billion as part of the restructuring, with $7.259 billion in one type and $2.4 billion in another [1] Group 2 - The completion of the debt restructuring is expected to support the long-term recovery of the company's real estate development sector and enhance confidence among stakeholders [2] - In the first 11 months of the year, Sunac China reported a total contract sales amount of 33.89 billion yuan, a year-on-year decline of 25.3%, with a contract sales area of approximately 1.181 million square meters, down 44.37% [2] - The company is seen as a benchmark for other distressed real estate firms, having completed comprehensive debt restructuring, which may provide a reference for future debt restructuring efforts in the industry [3]

12月23日晚，震裕科技公告，公司拟向不特定对象发行可转债募资不超过18.8亿元，用于锂电池精密结构件扩产项目、人形机器 人精密模组及零部件产业化项目（一期）、电机铁芯扩产项目（一期）以及补充流动资金。其中拟使用募资5.64亿元进行补流。 | 月 | 项目名称 | 项目总投资额 | 拟使用募集资金金额 | | --- | --- | --- | --- | | 1 | 锂电池精密结构件扩产项目 | 103,754.67 | 75,200.00 | | 2 | 人形机器人精密模组及零部件产业 化项目(一期) | 56,736.52 | 28,200.00 | | 3 | 电机铁芯扩产项目(一期) | 41,344.80 | 28,200.00 | | 4 | 补充流动资金 | 56,400.00 | 56,400.00 | | | 合计 | 258,235.98 | 188,000.00 | 震裕科技同日公告，公司全资子公司苏州范斯特与苏州科技城管理委员会签署战略合作意向书，计划投资不低于10亿元建设新能 源汽车驱动总成核心部件、低空飞行器驱动总成核心部件及具身人形机器人驱动总成核心部件项目，即范斯特三期项目。 ...

Core Viewpoint - 瑞茂通 is facing significant financial distress due to overdue debts, which may impact its operational capabilities and financial stability [1][3][4] Debt Situation - As of the announcement date, 瑞茂通 and its subsidiaries have overdue financial institution loans totaling approximately 46,411.6876 million RMB [2] - The total overdue amount, including commercial acceptance bills, is about 92,234.3894 million RMB, representing 11.69% of the company's latest audited net assets [2] - Cumulatively, overdue financial institution loans and commercial acceptance bills amount to approximately 200,148.8649 million RMB, which is 25.37% of the company's latest audited net assets [2] Financial Impact - The overdue debts may lead to increased financial costs due to overdue interest payments and could reduce the financing capabilities of the company and its subsidiaries [3] - The company is actively communicating with stakeholders to resolve the debt issues and is closely monitoring the situation for potential future risks [3] Stock and Market Performance - As of December 23, 瑞茂通's stock price decreased by 3.06%, closing at 3.8 RMB per share, with a total market capitalization of 41.29 billion RMB [4] - The company reported a significant decline in revenue and profit for the third quarter of 2025, with a 29% year-on-year decrease in revenue and a 40.34% drop in net profit [4] Shareholder and Regulatory Actions - The controlling shareholder, 郑州瑞茂通, had 737 million shares frozen, representing 132.85% of its holdings and 67.79% of the company's total share capital [4] - The company received a regulatory notice from the Shanghai Stock Exchange regarding information disclosure requirements [4]

二是支持外资研发中心落户。对于2025—2027年间，经深圳市外资主管部门会同科技主管部门认定的外 资研发中心，每家给予最高100万元一次性奖励，其中属于跨国公司全球研发中心且上一年度新增实际 外资金额合计达1000万美元及以上的，再叠加给予最高500万元一次性奖励，合计给予最高600万元一次 性奖励。各区可结合实际制定配套支持政策。 除新增措施外，《实施办法》从推动重点领域开放、优化营商环境、提高投资便利化、加大资金支持力 度、完善外商投资促进机制等维度，构建了全方位的政策支持体系。 12月23日，《深圳市进一步加大吸引和利用外资实施办法》（深府规〔2025〕10号）（以下简称《实施 办法》）正式印发，并将于2026年1月1日起施行，有效期三年。《实施办法》共包含五个方面22条措 施，旨在更大力度推进深圳高水平对外开放，加快建设更具全球影响力的经济中心城市和现代化国际大 都市。 记者梳理发现，对比2024年6月发布的《深圳市进一步加大吸引和利用外资实施办法》，此次新增2条奖 补措施，即《实施办法》第17、18条，其他条款基本不变。在延续既有支持力度的基础上，新办法强化 了重奖高端总部项目和外资研发中心的落户 ...

Group 1 - Shenzhen has announced rewards for 21 cross-border e-commerce companies, totaling 32.319 million yuan for 36 projects, with notable companies like Saiwei and Chuangxiang Sanwei receiving significant amounts [1] - Six companies, including Xing Shang Chuang Xin and Yun Ji Zhi Neng, received the maximum reward of 3 million yuan each, while others received 2 million and 1 million yuan [1] - Shenzhen is recognized as a core hub for cross-border e-commerce, with policies supporting the development of independent sites to enhance international market competitiveness [1][2] Group 2 - The Shenzhen Municipal Bureau of Commerce has outlined support policies for 2025, encouraging cross-border e-commerce companies to build their own brands and independent sites, with a maximum reward of 1 million yuan per site [2] - Over 100 independent brand sites have been established in Shenzhen, which are becoming crucial for the international expansion of Shenzhen brands [2] - The awarded projects exhibit three characteristics: focus on niche markets, multi-market strategies, and strong technological R&D capabilities [2] Group 3 - Shenzhen's cross-border e-commerce is transitioning from platform dependency to brand building, as traditional sellers seek new growth avenues amid rising platform costs and stricter compliance [3] - The shift from "platform dependency" to "brand creation" marks a new era for Shenzhen's cross-border e-commerce, emphasizing the importance of independent sites [3] - The integration of independent sites and platforms is seen as a strategy to enhance customer acquisition and brand value, positioning brand expansion as a key growth driver for cross-border e-commerce [3]