证券时报·数据宝统计，截至今日上午10:30，上证综指3359.68点，收于五日均线之下，涨跌幅-0.23%， A股总成交额为5501.93亿元。到目前为止，今日有863只A股价格突破了五日均线，其中乖离率较大的 个股有五新隧装、光智科技、久吾高科等，乖离率分别为15.52%、15.01%、14.94%；九阳股份、智信 精密、鑫铂股份等个股乖离率较小，刚刚站上五日均线。 | 证券代 | 证券简 | 今日涨跌幅 | 今日换手率 | 五日均线 | 最新价 | 乖离率 | | --- | --- | --- | --- | --- | --- | --- | | 码 | 称 | （%） | （%） | （元） | （元） | （%） | | 835174 | 五新隧 装 | 21.36 | 10.29 | 34.63 | 40.00 | 15.52 | | 300489 | 光智科 技 | 19.99 | 4.72 | 46.45 | 53.42 | 15.01 | | 300631 | 久吾高 科 | 20.02 | 13.72 | 21.39 | 24.58 | 14.94 | | 300069 | 金利华 电 ...

Group 1 - The report highlights the second adjustment of the North Exchange 50 Index in 2025, effective on June 16, 2025, with potential new additions including Lierda, Tongguan Mining Construction, Wanda Bearings, Juxing Technology, and Yinuowei [4][10][12] - The report discusses the revision of restructuring rules by the North Exchange, introducing a "small-scale fast" review mechanism and simplified review procedures, aimed at enhancing the efficiency of mergers and acquisitions for innovative SMEs [7][8][9] - The overall PE ratio of North Exchange A-shares has rebounded to 51X, with average daily trading volume increasing to 349 billion yuan, indicating improved market sentiment [17][20] Group 2 - The report suggests that institutional investors in the North Exchange market should adopt a cautious approach, focusing on long-term stable growth companies and sectors aligned with national policies such as "self-control" and innovation-driven development [14] - Key sectors to watch include high-end manufacturing, infrastructure with high dividends, and specialty consumer industries, as well as recent hot themes like AI and robotics [14] - The report notes that the North Exchange 50 Index has increased by 3.13% this week, outperforming other indices, with a year-to-date increase of 37% [22][24]

Core Viewpoint - The major asset restructuring proposal of Wuxin Tunnel Equipment has been unanimously approved, indicating strong support from minority shareholders and a commitment to enhancing shareholder value through the acquisition of two specialized "little giant" companies for 2.65 billion yuan [1][2]. Group 1: Restructuring Details - The restructuring was approved with full participation from minority shareholders, while major shareholders and related parties abstained from voting [2]. - The acquisition price of 2.65 billion yuan reflects a significant discount from the initially proposed price of up to 3 billion yuan, resulting in a price-to-earnings ratio of just over 8 times, which is considered reasonable for asset-heavy enterprises [2]. - The decision to lower the acquisition price by 350 million yuan demonstrates the controlling shareholder's commitment to protecting minority shareholders' interests [2]. Group 2: Synergy and Value Creation - The three companies involved in the acquisition share a common cultural background and operational synergies, which are expected to create a "fusion effect" where the combined value exceeds the sum of individual values [3]. - Wuxin Heavy Industry specializes in port logistics equipment, while Xingzhong Technology focuses on infrastructure equipment, indicating strong complementary capabilities [3][4]. - The merger is anticipated to enhance market competitiveness and reduce risks associated with single business operations, while also promoting technological innovation and industry upgrades [4]. Group 3: Market Impact and Policy Alignment - This restructuring marks the first review-type restructuring project on the Beijing Stock Exchange following the release of the "Six Merger Guidelines," showcasing a policy direction that encourages the integration of specialized small giant enterprises into listed companies [5][6]. - The acquisition is expected to enhance the overall strength of Wuxin Tunnel Equipment in the machinery and equipment sector, aligning with national priorities for new productive forces [6].

证券代码：835174 证券简称：五新隧装 公告编号：2025-075 湖南五新隧道智能装备股份有限公司 2025 年第二次临时股东会决议公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连 带法律责任。 一、会议召开和出席情况 （一）会议召开情况 1.会议召开时间：2025 年 5 月 15 日 2.会议召开地点：公司 1 号会议室 3.会议召开方式：现场投票和网络投票相结合 4.会议召集人：董事会 5.会议主持人：董事长杨贞柿先生 6.召开情况合法合规的说明： 本次股东会通知以公告的形式发出，召集、召开、审议等程序均符合有关法 律、行政法规、部门规章、规范性文件和《公司章程》的规定。 （二）会议出席情况 1.出席和授权出席本次股东会的股东共 33 人，持有的股份总数 39,143,393 股，占公司股份总数的 43.4884%。 其中关联股东持有的股份数量 31,612,223 股，回避表决；非关联股东持有 表决权的股份总数 7,531,170 股，占公司有表决权股份总数的 16.0354%。 2.通过网络投票参 ...

湖南启元律师事务所 二〇二五年五月 关于 湖南五新隧道智能装备股份有限公司 2025年第二次临时股东会 法律意见书 长沙市芙蓉区建湘路393号世茂环球金融中心63层 410000 电话：（0731）8295 3778 传真：（0731）8295 3779 网站：www.qiyuan.com 湖南启元律师事务所 法律意见书 致：湖南五新隧道智能装备股份有限公司 湖南启元律师事务所（以下简称"本所"）接受湖南五新隧道智能装备股份 有限公司（以下简称"公司"）委托，对公司 2025 年第二次临时股东会（以下 简称"本次股东会"）进行现场见证，并根据《中华人民共和国公司法》（以下 简称"《公司法》"）等中国现行法律、法规、规章和规范性文件以及《湖南五 新隧道智能装备股份有限公司章程》（以下简称"《公司章程》"）的相关规定， 出具本法律意见书。 为出具本法律意见书，本所指派本所律师列席了本次股东会，按照律师行业 公认的业务标准、道德规范和勤勉尽责精神，对本次股东会进行了现场见证，并 核查和验证了公司提供的与本次股东会有关的文件、资料和事实。 本所出具本法律意见书是基于公司向本所保证：公司已向本所提供了为出具 本法律意见 ...

证券代码：835174 证券简称：五新隧装 公告编号：2025-074 湖南五新隧道智能装备股份有限公司 2024 年年度报告业绩说明会预告公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连 带法律责任。 一、说明会类型 湖南五新隧道智能装备股份有限公司（以下简称"公司"）于 2025 年 4 月 28 日在北京证券交易所指定信息披露平台（www.bse.cn）披露了《湖南五新隧 道智能装备股份有限公司 2024 年年度报告摘要》（公告编号：2025-014）、《湖南 五新隧道智能装备股份有限公司 2024 年年度报告》（公告编号：2025-015），为 方便广大投资者更深入了解公司 2024 年度经营业绩的具体情况，加强与投资者 的互动交流，公司拟召开 2024 年年度报告业绩说明会。 二、说明会召开的时间、地点 （一）会议召开时间：2025 年 5 月 20 日（周二）15:00-17:00。 公司董事长：杨贞柿先生； 公司董事、总经理：龚俊先生； 公司副总经理、董事会秘书：崔连苹先生； 公司财务总监：杨娟女士 ...

财信证券股份有限公司 关于湖南五新隧道智能装备股份有限公司 向不特定合格投资者公开发行股票之保荐工作总结报告书 财信证券股份有限公司(以下简称"财信证券"或"保荐机构")作为湖南 五新隧道智能装备股份有限公司(以下简称"五新隧装"、"公司"或"发行 人")向不特定合格投资者公开发行股票(以下简称"本次发行")的保荐机构, 履行持续督导职责期限至 2024年12月 31日。目前,本次发行持续督导期已届 满,根据《证券发行上市保荐业务管理办法》《北京证券交易所证券发行上市保 荐业务管理细则》《北京证券交易所股票上市规则》等法规和规范性文件要求, 保荐机构出具本保荐工作总结报告书。 | 项目 | 内容 | | --- | --- | | 发行人名称 | 湖南五新隧道智能装备股份有限公司 | | 证券代码 | 835174 | | 注册资本 | 9.000.8718 万元 | | 注册地址 | 长沙经济技术开发区盼盼路 18-1 号 | | 主要办公地址 | 长沙经济技术开发区盼盼路 18-1 号 | | 法定代表人 | 杨贞柿 | | 实际控制人 | 王新桂 | | 联系人 | 崔连立 | | 联系电话 | 073 ...

Group 1 - The core products of Zhaoli Pharmaceutical show stable growth, with a high dividend payout ratio maintained, achieving a revenue of 2.578 billion yuan in 2024, a year-on-year increase of 32.71% [8][9] - The company has significantly reduced costs and improved efficiency, with a notable decrease in expense ratios, including a sales expense ratio of 32.53%, down 7.5 percentage points year-on-year [9] - The company plans to implement an employee stock ownership plan by the end of 2024, with profit growth targets set at no less than 30% for 2025 [10] Group 2 - Weining Health's revenue for Q1 2025 was 345 million yuan, a year-on-year decrease of 30.24%, with a net profit of 5.29 million yuan, down 68.18% [11][12] - The company is focusing on cost reduction and efficiency improvement, with a significant increase in cash flow from operating activities, up 120.53% year-on-year [12] - The WiNEX product is entering a phase of mass delivery, supporting internet operations and international adaptation, with a strong digital architecture capable of handling millions of transactions [14][15] Group 3 - Lais Information's revenue for 2024 was 1.61 billion yuan, a year-on-year decrease of 3.94%, while Q1 2025 revenue dropped by 55.53% to 109 million yuan [17][18] - The company is optimizing its business structure, with significant growth in air traffic control and urban traffic management sectors, achieving revenue increases of 13.68% and 33.47% respectively [18][19] - The company is enhancing its research and development efforts, with a focus on refining its product offerings and improving operational efficiency [20] Group 4 - FenJung Media reported a revenue of 12.262 billion yuan in 2024, a year-on-year increase of 3.01%, with a net profit of 5.155 billion yuan, up 6.80% [23][25] - The company maintains a high dividend payout ratio, with cash dividends amounting to 4.766 billion yuan, representing 92.45% of net profit [24][25] - The planned acquisition of New潮传媒 is expected to enhance the company's competitive position in the outdoor advertising market [28] Group 5 - Jingwang Electronics achieved a revenue of 12.659 billion yuan in 2024, a year-on-year increase of 17.68%, with a net profit of 1.169 billion yuan, up 24.86% [30][31] - The company is expanding its production capacity, with a focus on high-end markets and AI applications, particularly in the automotive sector [32][33] - The company is increasing its R&D investments to support technological advancements and market expansion [33]

Investment Rating - The investment rating for the company is "Accumulate" (Maintain) [5] Core Views - The company is leveraging a dual-driven strategy of "Equipment + Services" to stimulate growth in the water conservancy, hydropower, and mining sectors, which are seen as new growth drivers [5][6] - The company reported a revenue of 799 million yuan in 2024, a year-on-year decrease of 16.26%, and a net profit attributable to shareholders of 104.64 million yuan, down 36% year-on-year [6] - The company is focusing on high-quality orders to ensure operational quality and cash flow safety amid a slowdown in new projects in the railway and highway sectors due to funding pressures [6][7] Summary by Sections Market Performance - The closing price as of April 30, 2025, was 32.06 yuan, with a market capitalization of 2,885.68 million yuan and a circulating market value of 2,781.26 million yuan [3] Financial Data - In 2024, the company achieved a revenue of 799 million yuan, with a projected revenue of 953 million yuan for 2025, reflecting a year-on-year growth rate of 19.25% [8] - The net profit for 2024 was 105 million yuan, with an expected increase to 137 million yuan in 2025, indicating a growth rate of 30.94% [8] Business Segments - The railway and highway sectors saw revenue declines in 2024, while the water conservancy and mining sectors experienced significant growth, with revenues increasing by 96% and 78% year-on-year, respectively [6][7] - The company is enhancing its after-market service ecosystem, achieving a revenue increase of 103% in this segment, totaling 57.61 million yuan in 2024 [7] Strategic Initiatives - The company is planning a major asset restructuring to acquire 100% stakes in two companies, which is expected to significantly enhance its profitability and operational capabilities [10] - The company is also expanding its overseas market presence, particularly in regions like Russia, Southeast Asia, and Africa, to tap into local market demands [7][10]

Group 1 - The core point of the news is the significant asset restructuring plan of Beijiao Company, which aims to acquire 100% equity of two specialized "little giant" companies, Hunan Zhongtie Wuxin Heavy Industry Co., Ltd. and Huaihua Xingzhong Technology Co., Ltd., for a total transaction price of approximately 2.65 billion yuan [1][2] - The restructuring plan is the first project initiated by a North Exchange listed company under the "Six Merger Guidelines" since its release, indicating a shift in policy direction that may serve as a reference for other small and medium-sized listed companies [1][5] - The transaction price has been adjusted from a previous estimate of no more than 3 billion yuan to 2.65 billion yuan, corresponding to a price-to-earnings ratio of around 8 times, with specific ratios for the acquired companies being 7.82 times for Xingzhong Technology and 8.24 times for Wuxin Heavy Industry [2][3] Group 2 - The acquired companies, Wuxin Heavy Industry and Xingzhong Technology, are both classified as "little giant" enterprises, with Wuxin Heavy Industry being a national-level specialized and innovative key "little giant" enterprise [3][4] - The performance commitments for the acquired companies include achieving a total net profit of 935 million yuan over four complete financial periods from 2024 to 2027, with specific targets of 748 million yuan for Xingzhong Technology and 284 million yuan for Wuxin Heavy Industry [3] - The restructuring is expected to enhance the performance and competitiveness of the listed company, bringing new vitality to the market and serving as a model for other small and medium-sized enterprises to improve their strength and development quality through mergers and acquisitions [6][8] Group 3 - The North Exchange has seen increased activity in mergers and acquisitions since the release of the "Six Merger Guidelines," which support cross-industry mergers and encourage private equity funds to participate in mergers and acquisitions [5][7] - Analysts believe that the successful implementation of the Wuxin Heavy Industry restructuring project may become a demonstration case for mergers and acquisitions in the North Exchange market, attracting more quality small and medium-sized enterprises to explore capital market entry through mergers and acquisitions [5][6] - The focus of future mergers and acquisitions in the North Exchange is expected to be on resource optimization, new production capabilities, and strengthening supply chains, with particular attention to "snake swallowing elephant" mergers and the integration of quality resources within the same group [8]