公司称，这标志着合肥露笑构建"导电+半绝缘"全品类产品矩阵的技术突破，预示着在大尺寸赛道上形 成决胜未来的关键力量。 2月22日，露笑科技（002617）在其官方公众号发布喜报：旗下合肥露笑半导体材料有限公司（以下简 称"合肥露笑"）接连传来捷报。 继8英寸导电型碳化硅衬底实现关键技术突破后，公司又在半绝缘型碳化硅领域取得关键性进展，首次 制备出12英寸碳化硅单晶样品，完成从长晶到衬底全流程工艺的开发测试。 露笑科技称，合肥露笑已制定新的产业化路径，计划在现有合肥基地一期项目发展的基础上，紧锣密鼓 地筹划扩产项目。计划布局的新产线重点聚焦于8英寸导电型碳化硅衬底及12寸半绝缘型衬底的规模化 生产，旨在快速响应新能源汽车、光伏发电、储能、消费电子及工业控制等领域对高性能碳化硅材料日 益增长的市场需求。 来源：露笑科技官微 责编：陈丽湘 责任编辑：王珂 2月22日，露笑科技（002617）在其官方公众号发布喜报：旗下合肥露笑半导体材料有限公司（以下简 称"合肥露笑"）接连传来捷报。 继8英寸导电型碳化硅衬底实现关键技术突破后，公司又在半绝缘型碳化硅领域取得关键性进展，首次 制备出12英寸碳化硅单晶样品，完成从长晶 ...

關連交易背景 茲提述本公司日期為2023年12月29日 及2024年10月10日 的 公 佈，內 容 有 關 本 公 司 間 接 全 資 附 屬 公 司 中 建 置 地 財 務 有 限 公 司（「貸款方」）與 關 連 交 易 借 款 方 所 訂 立 的 關 連 交 易 貸 款 協 議（經 第 一 份 及 第 二 份 關 連 交 易 貸 款 協 議 修 訂 及 補 充）。 於2022年10月11日，貸 款 方（本 公 司 的 間 接 全 資 附 屬 公 司）與 關 連 交 易 借 款 方 訂 立 關 連 交 易 貸 款 協 議，據 此，貸 款 方 同 意 向 關 連 交 易 借 款 方 發 放 本 金 額 為 4,500,000港 元 的 關 連 交 易 貸 款，貸 款 年 期 為 一(1)年，年 利 率 為8%。 香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈的內容概不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不 對 因 本 公 佈 全部或任何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責 任。 GBA HOLDINGS LIMI ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 | | | 致：香港交易及結算所有限公司 公司名稱: GBA 集團有限公司 呈交日期: 2026年2月2日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00261 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 15,000,000,000 | HKD | | 0.2 | HKD | | 3,000,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 15,000,000,000 | HKD | | 0.2 | HKD | | 3,000,000,000 | 本月底法定/註冊股本總額： HKD 3,000 ...

Core Viewpoint - The ambitious silicon carbide project by Luxshare Technology is undergoing significant downsizing, with the total investment plan reduced from 19.4 billion to 9.9 billion yuan, nearly halving the initial budget [1][4]. Group 1: Project Adjustment - The remaining 9.5 billion yuan from the fundraising will be redirected to permanently supplement the company's working capital [2][4]. - The project has faced slow construction progress and output far below expectations, attributed to intensified market competition and a slowdown in downstream demand [2][5]. - The initial plan included a total investment of 100 billion yuan for the silicon carbide industrial park, with phase one investment set at 21 billion yuan [3]. Group 2: Financial Performance and Market Conditions - As of November 30, 2025, only 1.27 billion yuan has been invested in the project, representing just 6.5% of the planned 19.4 billion yuan [6]. - The project has been under scrutiny due to its slow progress, with regulatory bodies issuing warnings regarding information disclosure violations [6][7]. - The company's silicon carbide business generated only 62,570 yuan in revenue for the entire year of 2022, and 222,120 yuan in the first quarter of 2023, highlighting a stark contrast to earlier production capacity projections [6][7]. Group 3: Market Dynamics - The market for 6-inch conductive silicon carbide substrates has become increasingly competitive, with rapid capacity expansion among global manufacturers [5]. - The global electric vehicle market is experiencing a slowdown due to macroeconomic factors and changes in policies in Europe and the U.S., leading to weakened demand from automotive manufacturers [5]. - The emergence of larger 8-inch silicon carbide substrates is also impacting the market for 6-inch products, creating additional challenges for the project [5].

Core Viewpoint - The ambitious silicon carbide project by Luxshare Technology is undergoing significant downsizing, with the planned investment being cut from 19.4 billion to 9.9 billion yuan, nearly halving the original budget [1][3]. Group 1: Project Adjustment - The remaining 9.5 billion yuan from the fundraising will be redirected to permanently supplement the company's working capital [2][3]. - The project has faced slow construction progress and disappointing output, attributed to intensified market competition and a slowdown in downstream demand [2][4]. - The initial total investment for the silicon carbide project was set at 100 billion yuan, with the first phase planned for 21 billion yuan, but the company has not completed even the first phase after over five years [3][5]. Group 2: Market Conditions - The global market for silicon carbide substrates has become increasingly competitive, with rapid capacity expansion among manufacturers leading to a surplus of 6-inch products [4][5]. - Economic factors and changes in renewable energy policies in Europe and the U.S. have contributed to a slowdown in the global electric vehicle market, resulting in weakened demand from automotive manufacturers [4][5]. - The emergence of larger 8-inch silicon carbide substrates has also posed a technological and market challenge to the 6-inch products [4]. Group 3: Financial Performance - As of November 30, 2025, only 1.27 billion yuan of the planned 19.4 billion yuan had been invested, representing just 6.5% of the original plan [5]. - The revenue from the silicon carbide business was only 62,570 yuan for the entire year of 2022, and 222,120 yuan for the first quarter of 2023, starkly contrasting with earlier production capacity projections [5][6]. - The company had previously aimed to increase its annual production capacity to 100,000 substrates by June 2022, with expected annual sales revenue of 1.274 billion yuan once fully operational [6].

致：香港交易及結算所有限公司 公司名稱: GBA 集團有限公司 呈交日期: 2026年1月2日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00261 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 15,000,000,000 | HKD | | 0.2 | HKD | | 3,000,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 15,000,000,000 | HKD | | 0.2 | HKD | | 3,000,000,000 | 本月底法定/註冊股本總額： HKD 3,000,000,000 FF301 第 1 頁 共 11 頁 v 1.1.1 股份發行人及根據《上 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 | | | 致：香港交易及結算所有限公司 公司名稱: GBA 集團有限公司 呈交日期: 2025年12月1日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00261 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 15,000,000,000 | HKD | | 0.2 | HKD | | 3,000,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 15,000,000,000 | HKD | | 0.2 | HKD | | 3,000,000,000 | 本月底法定/註冊股本總額： HKD 3,00 ...

Core Viewpoint - The completion of the highway renovation project in Kazakhstan, undertaken by China CITIC Construction Co., marks a significant achievement in the China-Kazakhstan cooperation under the Belt and Road Initiative, enhancing regional transportation and logistics efficiency [1] Project Overview - The project involves two national highways with a total length of 1,130 kilometers, designed for a speed of 120 kilometers per hour, connecting key cities such as Jetyssu and Ust-Kamenogorsk, as well as the capital Astana and the largest city Almaty [1] - The highways will also link major cities to tourist destinations like Lake Alakol and Lake Balkhash, serving as core routes in Kazakhstan's road transportation network [1] Construction Timeline and Impact - Construction of the highways began in 2018 and 2019, with the project teams from China and Kazakhstan overcoming various challenges to achieve completion by the end of 2024 [1] - The project is expected to significantly improve transportation logistics efficiency in the region and provide more convenient travel for local residents [1] Employment and Skill Development - During the construction phase, the project created job opportunities and trained a number of professionals, including civil engineers and machinery operators, contributing to the development of Kazakhstan's highway construction industry [1]

Core Viewpoint - The company, Dongfang Precision, plans to sell its corrugated cardboard production line business, including the Italian Fosber Group, for a total of €774 million in cash, marking a significant asset restructuring move [2][4][6]. Transaction Details - The transaction involves the sale of 100% equity in Fosber S.p.A. and its subsidiaries, Fosber Asia, and Tirua Asia to Foresight US BidCo, Inc. and Foresight Italy BidCo S.p.A. [3][6]. - The core asset, Fosber Group, has a base price of €637 million, which represents a more than sevenfold increase from the approximately €74 million acquisition cost [4][9]. Financial Impact - The assets being sold account for 39.66% of the company's total assets, 30.23% of net assets, and 30.23% of operating revenue for 2024, indicating a substantial impact on the company's financial structure [6][7]. - The total assets of the target company are €298.59 million, while the listed company has total assets of €752.86 million, highlighting the scale of the transaction [7]. Strategic Rationale - The company aims to optimize resource allocation and focus on domestic development in technology and new productivity sectors, responding to national strategic directives [10][12]. - The sale is viewed as a strategic choice rather than a simple divestment, intended to maximize shareholder value and support the company's transition towards new productivity sectors [12]. Future Focus - Post-transaction, the company will continue to operate in printing packaging, water propulsion equipment, industrial internet solutions, and digital printing equipment, ensuring stable revenue and profit streams [13]. - The company plans to enhance its core platform, Baisheng Power, in the outboard motor industry, which has a global market size exceeding ¥100 billion, with a focus on high-power, high-efficiency, and low-emission products [12][13].

Core Viewpoint - The company, Dongfang Precision (002611), plans to sell 100% equity of its corrugated cardboard production line business, including the Italian Fosber Group, for a cash transaction amounting to €774 million, marking a significant increase in asset value since its acquisition [1][3][6]. Group 1: Transaction Details - The transaction involves the sale of Fosber S.p.A. and its subsidiaries, Fosber Asia, and Tiruña Asia, with a core asset price of €637 million, which is over seven times the initial acquisition cost of approximately €74 million [2][6]. - The assets being sold represent 39.66% of the company's total assets, 30.23% of net assets, and 30.23% of operating income for 2024, indicating a major asset restructuring [3][4]. Group 2: Strategic Rationale - The decision to sell is part of a strategic shift to optimize resource allocation and focus on domestic development in technology and new productivity sectors, responding to national strategic directives [7][8]. - The company aims to enhance its competitive advantage in strategic emerging industries, particularly in the marine power equipment sector, which has a global market size exceeding ¥100 billion [8]. Group 3: Future Outlook - Post-transaction, the company will retain significant operations in printing packaging, marine power equipment, industrial internet solutions, and digital printing equipment, ensuring stable revenue and profit growth [9]. - The company plans to increase R&D investment in high-power outboard motors and electric outboard motors, aiming to upgrade its product offerings towards higher efficiency and lower emissions [8].