Core Viewpoint - The company, Yao Wang Technology, has terminated two major fundraising projects totaling nearly 1.3 billion yuan after four years of progress, citing the rapid evolution of AI technology as a reason for the shift in business focus [1][2]. Fundraising and Project Termination - On September 9, Yao Wang Technology announced the termination of the "YOWANT Digital Marketing Cloud Platform Construction" and "Innovation Technology Research Institute Construction" projects, reallocating the remaining 766 million yuan to supplement working capital [1][2]. - In October 2021, the company raised 2.972 billion yuan through a private placement, with 839 million yuan allocated for working capital and loan repayment, 906 million yuan for the YOWANT project, 791 million yuan for social e-commerce ecosystem construction, and 385 million yuan for the research institute [2]. Financial Performance and Losses - From 2021 to 2024, the company reported continuous significant losses, with a total loss of 3.269 billion yuan over four and a half years [9]. - In the first half of 2025, the company experienced a revenue decline of 36.32% year-on-year, with a net loss of 253 million yuan, marking a 15.60% increase in losses compared to the previous year [8]. Project Investment Details - As of August 31, 2025, the YOWANT project had received a cumulative investment of 418 million yuan, while the research institute project had received 127 million yuan, primarily for infrastructure and equipment [5][8]. - The company indicated that the original hardware and software plans for the terminated projects became obsolete due to advancements in AI algorithms and computing architecture [3][5]. Business Transformation Challenges - Yao Wang Technology, originally a traditional women's shoe company, has struggled with its transformation into the social e-commerce sector, failing to achieve profitability since the transition [8][9]. - The company has indicated a shift in strategy, moving towards a holding or equity participation model for innovative businesses while optimizing organizational efficiency through AI technology [8].

长江商报消息 ●长江商报记者 张璐 国内制动器行业龙头亚太股份（002284.SZ）再添重磅订单。 9月9日，亚太股份公告称，公司收到国内某头部新势力品牌主机厂的定点通知，被定为该客户某平台后 制动钳总成（带EPB）及前制动盘产品供应商。上述项目生命周期4年，生命周期销售总金额约为5.14 亿元。 长江商报记者注意到，2025年以来，亚太股份大力拓展国内外市场，收获颇丰，年内已累计获得7个定 点通知（包含此次项目定点），生命周期销售总金额达41.94亿元。 作为国内率先自主研发生产汽车液压ABS的企业，亚太股份近年来业绩保持高增长，与此同时，公司持 续加码研发，2020年—2025年上半年累计研发投入达12.29亿元，截至2025年上半年末，公司已手握757 项有效专利。 研发投入的转化与市场拓展的成效，推动公司资产规模稳步增长，截至2025年上半年，亚太股份总资产 同比增长17.03%至75.23亿元，创下历史新高。此次新获订单，不仅是公司产品实力的又一印证，也将 为其后续业绩增长注入新动能。 斩获头部新势力5.14亿订单 回顾亚太股份过往业绩，呈现出稳健增长的态势。从营收数据来看，2021年—2024年期 ...

Core Viewpoint - The demand for AI computing power is driving new opportunities in the optical module industry, with Guangxun Technology planning to raise up to 3.5 billion yuan through a private placement to enhance its production capacity and R&D in high-speed optical transmission products and emerging optoelectronic technologies [1][2]. Group 1: Company Plans and Financials - Guangxun Technology plans to issue up to 242 million shares to no more than 35 specific investors, including its actual controller, China Information Communication Technologies Group [1][2]. - The company reported a revenue of 5.243 billion yuan for the first half of 2025, a year-on-year increase of 68.59%, and a net profit attributable to shareholders of 372 million yuan, up 78.98% year-on-year [1][4]. - The funds raised will be allocated to three main areas, including the production of optical connection and high-speed optical transmission products, R&D for high-speed optical interconnection, and supplementing working capital [2][3]. Group 2: Market Trends and Opportunities - The demand for optical modules in data communication is expected to continue growing, with Ethernet optical module demand projected to exceed 20 billion USD by 2029 [2]. - The global computing power scale reached 1397 EFlops in 2023, a 54% year-on-year increase, and is expected to surpass 16 ZFlops by 2030, indicating a significant growth in AI computing needs [2]. - The demand for high-speed optical modules, especially those rated at 800G and above, is surging, becoming a core component in AI data centers [2][3]. Group 3: Investment Projects - The "Optical Connection and High-Speed Optical Transmission Product Production Construction Project" has a total investment of 2.482 billion yuan, with 2.083 billion yuan sourced from the raised funds, and a construction period of four years [3]. - The project is expected to alleviate capacity bottlenecks and enhance the supply capability of high-end products, thereby strengthening the company's competitive edge in AI data centers and telecommunications markets [3]. - An additional investment of 1 billion yuan is planned for R&D in high-speed optical interconnection and emerging optoelectronic technologies, focusing on next-generation pluggable optical modules and optical engines based on Co-Packaged Optics (CPO) technology [3].

9月9日晚间，三博脑科发布公告称，拟以有限合伙人身份参与投资设立天津元明海河脑科学创业投资合 伙企业(有限合伙)(最终名称以工商管理部门核定为准)，以自有资金认购5700万元基金份额，进一步完 善公司产业链，提升临床诊疗水平与科技赋能能力。 长江商报记者注意到，8月22日和26日，三博脑科曾两度发布参投基金的公告，拟投入的金额分别为 8700万元和1000万元，参投脑科学行业的早期和初创未上市公司及医疗器械领域。 三博脑科(301293.SZ)继续通过参投基金加码脑科学领域。 具体来看，8月22日，三博脑科拟斥资8700万元认购上海德联博健创业投资合伙企业(有限合伙)29%份 额，该基金总规模3亿元，聚焦脑科学工具层企业、神经及精神系统疾病等领域早期未上市企业；8月26 日，公司再投1000万元获北脑一期(北京)股权投资中心(有限合伙)11.11%份额，基金总规模9000万元， 主攻脑科疾病诊断治疗类医疗器材、耗材及药物，优先投昌平区域企业。 可以看到，一个月内，三博脑科连投3家基金，累计投资金额达1.54亿元。 上市后业绩持续增长 自2023年上市以来，三博脑科业绩保持增长，将有力支持公司产业布局。 积极投 ...

Core Viewpoint - Jing Sheng Co., Ltd. (688478.SH) is facing market competition pressure and plans to enhance its profitability through an external acquisition of Beijing Weizhun Intelligent Technology Co., Ltd. [1] Group 1: Acquisition Details - Jing Sheng intends to acquire 100% of Weizhun Intelligent's shares through a combination of issuing shares and cash payments, thereby gaining control over the company [3] - The acquisition is part of a strategy to vertically integrate the semiconductor industry chain, extending Jing Sheng's business into terminal product applications [1][6] - The transaction price for the shares to be issued is set at 28.93 yuan per share [4] Group 2: Financial Performance - In the first half of 2025, Jing Sheng reported a revenue of 158 million yuan, a year-on-year decrease of 20.29%, and a net loss of 7.45 million yuan, marking a shift from profit to loss [1][9] - The company's gross margin significantly dropped to 3.87% in the first half of 2025, down from 35.22% in 2022 [11][9] - Weizhun Intelligent has shown rapid growth in profitability, with revenues of 70.73 million yuan, 115 million yuan, and 73.93 million yuan from 2023 to the first half of 2025, respectively [12] Group 3: Market Reaction - Following the announcement of the acquisition plan, Jing Sheng's stock price fell over 12% intraday on September 9, closing down 9.14% at 37.97 yuan per share [2][8] Group 4: Strategic Rationale - The acquisition is expected to enhance Jing Sheng's market expansion capabilities and strengthen relationships with existing customers while attracting new clients [6] - The integration of Weizhun Intelligent's assets is anticipated to improve Jing Sheng's overall financial performance and operational synergy post-acquisition [13]

长江商报奔腾新闻记者沈右荣 曾经押注星环科技(688031.SH)的腾讯，计划再减持。 星环科技的核心团队带有鲜明的"英特尔基因"，其创始人孙元浩1977年生于江苏常州，26岁时加入英特 尔，从技术员逐步晋升至数据中心软件部亚太区CTO，也是英特尔Hadoop发行版的创始人。2013年， 孙元浩辞去英特尔高薪职位，瞄准自主可控的大数据基础软件赛道创办星环科技。 此外，星环科技的执行董事及副总裁吕程，2008年6月至2013年6月期间担任英特尔亚太研发有限公司软 件工程师，目前主要负责星环科技研发和技术的整体管理；董事朱珺辰也曾于2011年4月至2013年12月 任职英特尔亚太研发有限公司软件工程师。董事吕程于2008年7月至2013年5月曾任英特尔工程师。 9月8日晚，星环科技发布公告，近日，公司收到股东林芝利创信息技术有限公司(以下简称"林芝利创") 出具的告知函，因股东自身安排，林芝利创拟根据市场情况减持其所持有的公司股份合计不超过363.39 万股，即不超过公司总股本的3%。 目前，林芝利创持有星环科技933.34万股股份，占公司股份总数的7.71%，为公司第二大股东。 林芝利创成立于2015年10月， ...

Core Viewpoint - Fuaan Co., Ltd. is actively pursuing diversification by investing in new sectors such as gas turbine manufacturing, AI computing power leasing, and lithium battery materials, although the financial performance from these ventures has yet to show significant improvement [1][2][3] Group 1: Gas Turbine Manufacturing - Fuaan Co., Ltd. plans to establish a joint venture to create a gas turbine manufacturing base in Leshan, focusing on gas turbines below 50MW [1] - The company will invest approximately 320 million yuan, holding a 51.613% stake in the joint venture, while its partners will contribute 150 million yuan each for a 24.1935% stake [1] - The total registered capital for the joint venture is 620 million yuan, indicating strong confidence from all parties involved [1] Group 2: AI Computing Power Leasing - In May 2024, Fuaan Co., Ltd. announced plans to invest about 249 million yuan in an AI computing power leasing business through a joint venture with Shanghai Jitie Network Technology Co., Ltd. [2] - Fuaan Co., Ltd. will hold a 71% stake in the new venture, which will have a total investment of approximately 350 million yuan [2] Group 3: Lithium Battery Materials - Fuaan Co., Ltd. previously aimed to enter the lithium battery sector by planning a major asset restructuring to acquire 100% of Tianquan Fuaan Carbon Material Technology Co., Ltd. for 3.6 billion yuan [2] - This move reflects the company's strong interest and commitment to emerging industries [2] Group 4: Financial Performance - For the first half of 2025, Fuaan Co., Ltd. reported revenue of 579 million yuan, a year-on-year increase of 3.29%, but a net profit decline of 9.68% to 55.57 million yuan [2] - The performance indicates challenges in the company's transition to new business areas, with the impact of new ventures on overall performance still not fully realized [2][3]

Core Viewpoint - The reduction announcement from the controlling shareholder of San Chuan Wisdom reflects the company's transformation challenges amid fluctuating financial performance and market conditions [1][2]. Group 1: Shareholder Actions - On September 8, San Chuan Wisdom announced that its controlling shareholder, Jiangxi San Chuan Group, plans to reduce its stake by up to 31.21 million shares, representing 3% of the total share capital, due to funding needs [1]. - The expected cash-out from this reduction, based on the closing price of 7.2 yuan per share, is approximately 225 million yuan [1]. - Since November 2013, Jiangxi San Chuan Group has cumulatively reduced its holdings by 2.184 million shares, realizing about 28.83 million yuan [1]. Group 2: Financial Performance - The company has experienced significant revenue fluctuations over the past three years, with revenues of 1.332 billion yuan, 2.285 billion yuan, and 1.473 billion yuan for 2022, 2023, and 2024 respectively [1]. - Net profits for the same years were 214 million yuan, 240 million yuan, and 63.77 million yuan, indicating a downward trend [1]. - For the first half of 2025, the company reported total revenue of 490 million yuan, a year-on-year decline of 33.49%, while net profit slightly increased by 0.54% to 44.92 million yuan [2]. Group 3: Business Segments - San Chuan Wisdom's main business segments are smart water management and rare earth resource recovery, with smart water meters being a core product [1]. - In 2024, revenue from water meters was 735 million yuan, accounting for 49.92% of total revenue, while in the first half of 2025, this increased to 4.02 billion yuan, making up 81.97% of revenue [2]. - The rare earth segment faced challenges due to price volatility and production shortfalls, with revenue from rare earth oxides dropping from 4.127 billion yuan (28.01% of total revenue) in 2024 to 41.71 million yuan (8.51% of total revenue) in the first half of 2025 [2]. Group 4: Market Sentiment - The impact of the reduction plan on market sentiment is notable, with historical data indicating an average stock price decline of 1.52% within five days and 7.91% within thirty days following similar announcements [3]. - As of September 9, the stock price of San Chuan Wisdom closed at 6.59 yuan per share, reflecting an 8.47% drop from the previous trading day [3].

长江商报记者汪静 制造业转型升级的关键窗口期，潍柴动力（000338.SZ,2338.HK）的2025年半年报交出了一份稳中有进 的成绩单。 8月29日晚间，潍柴动力发布2025年半年报。报告期内，公司实现营业收入1131.5亿元，净利润56.4亿 元。同时公司拟每10股派发现金红利3.58元，分红比例提升至57%，在战略转型期持续回报投资者。 长江商报记者发现，在行业周期波动中，潍柴动力展现出较强韧性。这份业绩的背后，是传统高端业务 持续领跑、新能源赛道加速突破与全球布局深度协同的三重支撑。尤为亮眼的是，新能源重卡销量同比 激增255%至1万辆，数据中心备用电源销量暴涨491%。 潍柴还在加速出海。2025年上半年，公司海外市场拓展成绩显著，出口重卡2.7万辆，行业地位稳固， 海外子公司表现稳健。整体来看，2025年上半年，潍柴海外营收达到574.9亿元，收入比例达到 50.81%。 多维支撑构建业绩韧性 潍柴动力上半年业绩稳健的核心逻辑，在于构建了"传统业务筑根基、新兴业务拓增量、全球布局抗周 期"的立体增长体系。 从业绩轨迹看，潍柴动力一直都有着较强的抗周期能力。 2021-2024年，公司营业收入从2 ...

武汉市政院作为武汉城市基础设施智慧运营研发中心，成立于1954年，拥有多项甲级资质，在水务工程 设计等领域实力强劲。目前，武汉市政院已拓展数字化、智慧城市、绿色低碳、城市更新、固废处理、 城市运维等新兴业务领域，拥有知识产权449项，其中发明专利56项，实用新型专利241项，软件著作权 146项。 长江商报消息●长江商报记者 徐靓丽 武汉控股（600168.SH）重要收购有了新进展，公司日前发布公告，拟通过发行股份及支付现金的方 式，向武汉市城投集团购买其持有的武汉市政院100%股权，并向不超过35名符合中国证监会规定条件 的特定投资者发行股份募集配套资金，交易价格16亿元。武汉控股将在水务环保主业构建"规划—咨询 —设计—施工—运维"等一体化服务能力，打造国内一流环境综合服务商。 武汉控股中报业绩亮眼，2025年上半年实现营业收入20.76亿元，同比增长14.76%；扣非净利润为 7427.58万元，同比增长21.08%。武汉控股聚焦污水处理业务、自来水业务、水务工程业务、隧道运营 业务等四大业务板块，深化厂网一体化与智慧水务建设，依托科技创新、管理优化与市场拓展，全面推 动企业高质量和绿色低碳发展。 武汉 ...