Core Viewpoint - UBTECH Robotics (9880.HK) announced the acquisition of 43% of the shares of Fenglong Co., Ltd. (002931.SZ) through a combination of "agreement transfer + tender offer," marking a significant shift in control from Chengfeng Investment to UBTECH's founder, Zhou Jian [2] Group 1: Acquisition Details - The acquisition involves the purchase of 93,957,518 shares at a price of 17.72 CNY per share, representing a 10% discount from the last trading price of 19.68 CNY before suspension [2] - The total consideration for the transaction amounts to 1.665 billion CNY [2] Group 2: Market Reaction - On December 25, Fenglong Co., Ltd. opened with a limit-up at 21.65 CNY per share, achieving a market capitalization of 4.7 billion CNY [5] Group 3: Company Background - Fenglong Co., Ltd., established in 2003, specializes in the research, production, and sales of garden machinery engines, hydraulic control systems, and automotive components [7] - The company operates five subsidiaries and is recognized as a specialized and innovative high-tech enterprise [7] Group 4: Financial Performance - Fenglong Co., Ltd. reported revenues of approximately 587 million CNY, 433 million CNY, and 479 million CNY for the years 2022 to 2024, with net profits of 48.59 million CNY, -7.04 million CNY, and 4.59 million CNY respectively [8] - In the first three quarters of 2025, Fenglong achieved revenues of approximately 373 million CNY, a year-on-year increase of 9.47%, and a net profit of approximately 21.52 million CNY, a significant increase of 1714.99% [8] Group 5: Strategic Implications - UBTECH views this strategic acquisition as a means to enhance its industrial chain layout and strengthen its core competitiveness, leveraging its technological advantages in humanoid robotics alongside Fenglong's manufacturing capabilities [7] - The acquisition is seen as a step towards exploring the "H+A" path for humanoid robotics companies, aiming to provide more resources for global expansion and industrial chain extension [12]

Group 1: Technology Sector Developments - Tencent's Yuanbao DeepSeek usage increased over 100 times since the beginning of the year, with peak usage on December 14 [2] - Xiaomi announced the launch of the 17 Ultra Leica version, which will feature a distinctive Leica logo, and plans to increase prices due to high storage costs [3] - Waymo is upgrading its autonomous vehicle fleet to provide specific information about traffic signal outages, following a recent incident that caused a backlog of requests [4] Group 2: Robotics and Manufacturing Collaborations - Huqin Technology has officially formed a strategic partnership with Weita Power for the manufacturing of consumer-grade intelligent companion robots [5] - Chunguang Technology received a procurement order worth 43.26 million yuan for robot products from Lexiang Technology, marking a recognition of its manufacturing capabilities [6] - Wanqi New Materials' subsidiary signed a contract worth 10 million yuan with Lingxin Qiaoshou for lightweight components related to humanoid robots [11] Group 3: Corporate Transactions and Financial Updates - Huayin Technology signed a framework procurement contract worth 254 million yuan for special functional materials for aircraft fuselages, which is expected to positively impact its financial performance [10] - Yubiquitous plans to acquire 43% of Fenglong shares for 1.665 billion yuan, aiming to enhance its industry chain layout in humanoid robotics [19] - Jizhi Co. intends to acquire at least 51% of Zhejiang Pumai Technology, a leading company in robot performance testing, to expand its business capabilities [20] Group 4: Market and Regulatory News - The National Computing Internet Service Platform's cross-domain system and Sichuan hub service node were officially launched, marking progress in the national computing internet architecture [7] - The Chinese Foreign Ministry opposed the U.S. plan to impose tariffs on China's semiconductor industry starting in 2027, emphasizing the negative impact on global supply chains [15] - Lianchuang Electronics announced a change in its actual controller to the Jiangxi State-owned Assets Supervision and Administration Commission following a share transfer agreement [21]

本报记者 冯思婕 12月24日晚，港股人形机器人龙头深圳市优必选科技股份有限公司（以下简称"优必选"）发布公告，拟以"协议转让+要约收购"的组合方式收购A股上市 公司浙江锋龙电气股份有限公司（以下简称"锋龙股份（002931）"）约43%的股份。 同日，锋龙股份发布的公告中披露了更多细节。据悉，公司控股股东浙江诚锋投资有限公司及其一致行动人董剑刚、宁波锋驰投资有限公司、厉彩霞与优 必选于12月24日签署股份转让协议，优必选将受让6552.99万股无限售条件流通股，占锋龙股份总股本的29.99%，每股转让价格为17.72元，交易总对价达 11.61亿元。 此次交易中，锋龙股份还给出了业绩承诺，约定2026年至2028年，公司归属于母公司股东的净利润及扣除非经常性损益后归属于母公司所有者的净利润各 自应不低于1000万元、1500万元及2000万元。若未达标，股份转让方将按约定进行补偿；若累计利润超额完成，超额部分的20%将作为奖励发放给公司现 有业务团队。 对于本次收购的战略意图，优必选表示，这是公司完善产业链布局、强化核心竞争力的重要举措。公告明确，优必选暂无在未来12个月内改变锋龙股份主 营业务、进行重大资 ...

（原标题：优必选拟入主，002931，"一字"涨停，开盘封单量两倍于流通盘） 锋龙股份(002931)今日复牌后一字涨停，开盘涨停板封单量达459.89万手，两倍于流通盘，之后封单量有所减少。 12月24日晚间，锋龙股份发布筹划控制权变更的相关公告，有"人形机器人第一股"之称的优必选将入主。 根据锋龙股份公告，公司控股股东诚锋投资及其一致行动人董剑刚、锋驰投资、厉彩霞与深圳市优必选科技股份有限公司（简称"优必选"）签署 协议，约定诚锋投资向优必选协议转让公司6552.99万股无限售条件流通股股份（占公司总股本的29.99%）及其所对应的所有股东权利和权益，每 股转让价格17.72元，价款总额11.61亿元。 食品饮料ETF (产品代码: 515170) ★ 跟踪：中证细分食品饮料产业主题指数 近五日涨跌:0.00% 市盈率: 20.10倍 资金流向: 最新份额为107.5亿份, 减 少了1.3亿份，净申 赎-7804.3万元。 本次股份转让过户登记完成后，优必选及/或其指定主体将向公司除受让方以外的全体股东发出部分要约收购，要约收购股份数量为2845万股（占 公司总股本的13.02%），价格为17.72元/股 ...

Group 1 - The company has conditionally agreed to acquire a total of 65,529,900 A-shares, representing approximately 29.99% of the total issued share capital of Zhejiang Fenglong Electric Co., Ltd. at a price of 17.72 RMB per share [1] - Following the completion of the share transfer, the company plans to make a partial tender offer for 28,450,000 A-shares, which accounts for about 13.02% of the target company's issued share capital, at the same price of 17.72 RMB per share [1] - The total consideration for the acquisition is approximately 1.665 billion RMB, which will be funded from the company's internal resources, including proceeds from a general placement [1] Group 2 - After the acquisition, the company is expected to hold at least 93,957,500 A-shares, representing about 43% of the total issued share capital of the target company, which will become a non-wholly owned subsidiary [2] - The target group is primarily engaged in the research, production, and sales of horticultural machinery engines, electric machinery, hydraulic control systems, and automotive components, with applications in various machinery and vehicles [2] - The acquisition is strategically aligned with both parties' long-term goals and is expected to create synergies, accelerate the development and commercialization of humanoid robots, and enhance the overall competitiveness and market reach of the group [2]

号称"人形机器人第一股"的优必选，虽然两年前已经在港股上市，但股价却始终不温不火，与A股机器人概念如火如荼的炒作形成鲜明对比。如今，优必 选要把自己"正宗"的机器人概念嫁接到A股来了。 飞瞰财金注意到，虽然优必选近年传播声量较高，不是斩获新订单就是新产品亮相各种展会，但公司的营收体量、增速都不算高，应收账款却持续高企， 销售费用多于研发费用也与公司塑造的"科技感"有悖；公司净利润更是持续爆亏，近三年半已经累亏超过38亿元。截至今年半年度末公司账上货币资金不 到12亿元，那公司哪里来近17亿元资金买壳呢？答案是融资。 12月2日，优必选刚刚公告完成一轮H股配售（相当于A股的定向增发），融资30.56亿港元。这样，港股上市短短两年，公司已经累计配售6轮，合计融资 约76亿港元，另外公司还7次公告申请银行授信，合计额度约85亿元。 股份转让+要约收购 优必选突然出手A股买壳 根据锋龙股份的公告，2025年12月24日，公司控股股东浙江诚锋投资有限公司（以下简称诚锋投资）、实控人董剑刚、宁波锋驰投资有限公司（以下简称 锋驰投资）、厉彩霞与优必选签署了《股份转让协议》）。 12月24日晚，停牌一周的锋龙股份公告了控制权 ...

Core Insights - The top three companies by stockholding ratio in the Hong Kong Stock Connect are China Telecom (71.99%), Gree Power Environmental (70.09%), and Da Zhong Public Utilities (68.82%) [1] - Tencent Holdings, Xiaomi Group-W, and Alibaba-W have seen the largest increases in stockholding amounts over the last five trading days, with increases of +1.201 billion, +1.001 billion, and +892 million respectively [1] - The companies with the largest decreases in stockholding amounts over the last five trading days include China Mobile (-2.320 billion), Yingfu Fund (-1.467 billion), and China Petroleum & Chemical Corporation (-364 million) [2] Stockholding Ratio Rankings - China Telecom (00728) holds 9.990 billion shares, representing 71.99% [1] - Gree Power Environmental (01330) holds 0.283 billion shares, representing 70.09% [1] - Da Zhong Public Utilities (01635) holds 0.367 billion shares, representing 68.82% [1] - Other notable companies in the top rankings include Kai Sheng New Energy (67.96%) and Tianjin Chuangye Environmental Protection (67.10%) [1] Recent Increases in Stockholding - Tencent Holdings (00700) saw an increase of +1.201 billion, with a change of +1.9922 million shares [1] - Xiaomi Group-W (01810) increased by +1.001 billion, with a change of +25.5161 million shares [1] - Alibaba-W (09988) increased by +892 million, with a change of +6.1091 million shares [1] - Other companies with significant increases include Hong Kong Exchanges (6.48 billion) and Changfei Optical Fiber (6.09 billion) [1] Recent Decreases in Stockholding - China Mobile (00941) experienced a decrease of -2.320 billion, with a change of -28.0154 million shares [2] - Yingfu Fund (02800) decreased by -1.467 billion, with a change of -56.4370 million shares [2] - China Petroleum & Chemical Corporation (00857) decreased by -364 million, with a change of -44.7216 million shares [2] - Other companies with notable decreases include China Pacific Insurance (-350 million) and Innovent Biologics (-293 million) [2]

Core Insights - Tencent Holdings (00700), Alibaba-W (09988), and Hong Kong Exchanges (00388) led the market in net inflows, with amounts of 1.115 billion, 1.055 billion, and 309 million respectively [1] - China Mobile (00941), Luoyang Molybdenum (03993), and CICC (03908) experienced the highest net outflows, with amounts of -1.053 billion, -184 million, and -181 million respectively [1] - In terms of net inflow ratios, China Telecom Services (00552), Yihua Tong (02402), and Sunshine Insurance (06963) topped the list with ratios of 167.31%, 126.18%, and 118.17% respectively [1] Net Inflow Rankings - Tencent Holdings (00700) had a net inflow of 1.115 billion, representing a 13.09% increase, closing at 614.500 [2] - Alibaba-W (09988) saw a net inflow of 1.055 billion, with a 12.23% increase, closing at 146.400 [2] - Hong Kong Exchanges (00388) recorded a net inflow of 309 million, with a 24.77% increase, closing at 407.000 [2] Net Outflow Rankings - China Mobile (00941) faced a net outflow of -1.053 billion, a decrease of -54.21%, closing at 83.700 [2] - Luoyang Molybdenum (03993) had a net outflow of -184 million, down by -29.82%, closing at 19.100 [2] - CICC (03908) experienced a net outflow of -181 million, a decrease of -30.22%, closing at 20.540 [2] Net Inflow Ratio Rankings - China Telecom Services (00552) achieved a net inflow ratio of 167.31%, with a net inflow of 26.5926 million, closing at 4.520 [3] - Yihua Tong (02402) had a net inflow ratio of 126.18%, with a net inflow of 26.5481 million, closing at 23.980 [3] - Sunshine Insurance (06963) recorded a net inflow ratio of 118.17%, with a net inflow of 31.5558 million, closing at 3.940 [3]

Group 1 - The U.S. stock market indices collectively rose, with the Dow Jones increasing by 0.6%, the S&P 500 by 0.32%, and the Nasdaq by 0.22%, marking five consecutive days of gains and setting historical closing highs for the Dow and S&P 500 [4] - Major technology stocks showed mixed performance, with Apple, Microsoft, Netflix, Amazon, and Meta slightly up, while Google, Nvidia, Tesla, and Intel experienced slight declines [4] - The Nasdaq Golden Dragon China Index fell by 0.07%, with mixed results for Chinese concept stocks; Zhihu rose nearly 2%, while Pinduoduo and Yum China increased over 1%, and Kingsoft Cloud and iQIYI dropped over 1% [4] Group 2 - International oil prices showed mixed results, with West Texas Intermediate (WTI) crude oil rising by 0.03% to $58.4 per barrel, while Brent crude oil fell by 0.05% to $61.84 per barrel [5] - International gold prices slightly adjusted, with spot gold down by 0.01% to $4479.39 per ounce, and COMEX gold futures also down by 0.01% to $4505.4 per ounce [6] - Spot silver increased by 0.5% to $71.81 per ounce, while COMEX silver futures rose by 1.04% to $71.875 per ounce, continuing to set historical highs [7] Group 3 - The People's Bank of China announced a 400 billion yuan MLF operation to maintain liquidity in the banking system, with a one-year term set for December 25, 2025 [12] - The central bank also conducted a 260 billion yuan 7-day reverse repurchase operation at an interest rate of 1.4%, with a net withdrawal of 208 billion yuan due to the maturity of 468 billion yuan in reverse repos [12] Group 4 - The Chinese government released the "Encouragement Directory for Foreign Investment Industries (2025 Edition)," effective from February 1, 2026, aimed at attracting foreign investment in advanced manufacturing, modern services, high-tech, and energy-saving sectors [10][11] - The directory is part of a broader strategy to guide foreign investment towards the central and western regions of China [10] Group 5 - Ningde Times' Yichun lithium mine is expected to resume production around the Spring Festival, following a pause due to the expiration of its mining license in August [20] - The resumption of the lithium mine is significant for securing lithium resource supply, impacting the battery industry and the new energy vehicle supply chain [20] Group 6 - BYD and Volcano Engine announced a deep cooperation in the smart cockpit field, integrating a large model into BYD's DiLink system, covering all current models across five brands [21] - This collaboration is expected to enhance user experience and product competitiveness in the automotive sector [21] Group 7 - Chang'an Automobile responded to rumors regarding the loss of state assets due to the auction of scrap iron, stating that the information is false and has negatively impacted the company's reputation [22] - The company plans to take legal action against those spreading false information to protect its interests [22] Group 8 - Tsinghua University issued a statement addressing the spread of false enrollment information by unauthorized entities, emphasizing that all admissions policies are based on official announcements [24] - This move aims to maintain the university's reputation and ensure compliance in the admissions process [24]

Group 1 - The core point of the news is that the Hong Kong-listed humanoid robot company, UBTECH (09880.HK), plans to acquire a listed A-share company, Fenglong Co., Ltd. (002931.SZ), through a combination of agreement transfer and tender offer, acquiring 93.96 million shares, which accounts for 43% of the total shares [1] - The share transfer and tender offer price is set at 17.72 CNY per share, representing a 10% discount compared to the last trading price of 19.68 CNY before suspension on December 17, with a total consideration of 1.665 billion CNY [1] - UBTECH focuses on the research, design, manufacturing, and commercialization of intelligent humanoid robots, while Fenglong Co., Ltd. specializes in high-tech manufacturing, particularly in lawn mowers and automotive components, indicating a complementary business synergy [1] Group 2 - UBTECH aims to enhance its industrial chain layout and strengthen its core competitiveness through this strategic acquisition, leveraging its technological advantages in humanoid robots alongside Fenglong's manufacturing and supply chain capabilities [2] - The production capacity of UBTECH's industrial humanoid robot, Walker S2, has exceeded 300 units per month, with an expected annual delivery of over 500 units, and plans to increase production capacity to 10,000 units by 2026 [2] - Following the share transfer, the controlling shareholder will change from Chengfeng Investment to UBTECH, with the actual controller changing from Dong Jianggang to Zhou Jian [3]