Key Points - Guizhou Moutai elected Chen Hua as the chairman of the fourth board of directors and plans to repurchase shares between RMB 1.5 billion and RMB 3 billion [1] - Tianfeng Securities is under investigation by the China Securities Regulatory Commission for suspected violations of information disclosure and illegal financing [1] Share Buybacks - Demai Technology raised the upper limit for share repurchase to RMB 45 per share [5] - Jianbang Technology plans to repurchase shares worth between RMB 15 million and RMB 30 million [5] - Huayuan Holdings intends to repurchase shares worth between RMB 30 million and RMB 60 million [5] Major Investments - Jinling Pharmaceutical plans to invest RMB 893 million in hospital expansion projects [7] - Dongfang Mingzhu intends to invest approximately RMB 500 million to establish a partnership and acquire part of the equity of New H3C [7] - Chang'an Automobile aims to establish a robotics company to develop innovative products and solutions [7] Mergers and Acquisitions - Kaizhong Co. plans to acquire 60% of Anhui Tuosheng's equity, with stock resuming trading on December 1 [7] - Youa Co. has resumed the review process for issuing shares and cash to purchase assets [7] - Jiasheng Technology intends to acquire controlling interest in Shudun Information Technology Co., with stock continuing to be suspended [7] Financing Activities - Shenzhen Energy plans to apply for a public bond issuance with a total scale not exceeding RMB 20 billion [7] - Huakong Saige has terminated its specific object stock issuance [7]

（文章来源：证券日报） 证券日报网讯 11月28日晚间，黄山旅游发布公告称，公司于2025年11月28日召开第九届董事会第十六 次会议，审议通过了《关于承租黄山风景区温泉游览区部分资产暨关联交易的议案》，同意公司向黄山 旅游集团承租黄山风景区温泉游览区部分资产及地下热水（温泉）资源有偿使用，租赁期限自协议生效 日起10年，租赁价款为127，395，860元，资金来源为自有或自筹资金，并同意签署相关协议。本次交 易已经公司董事会独立董事专门会议审议通过。根据本次交易安排，公司与黄山旅游集团于2025年11月 28日签署了《黄山风景区温泉游览区部分资产转租及地下热水（温泉）资源有偿使用合同》。黄山旅游 集团为本公司的控股股东，黄山旅游集团为公司的关联法人，本次交易构成关联交易。 ...

Group 1 - Jianbang Co., Ltd. plans to repurchase shares using self-owned funds between 15 million and 30 million yuan, with a maximum price of 38 yuan per share [1] - Yatong Precision Engineering's investment in a private equity fund has been terminated due to failure to complete the agreed investment, leading to the fund's dissolution [1] - China Storage Co., Ltd. intends to invest 1.129 billion yuan in the Sanjiang Port project, with its wholly-owned subsidiary contributing 500 million yuan to establish a project company [2] Group 2 - Guangxin Co., Ltd. plans to inject assets worth 4.383 billion yuan into its wholly-owned subsidiary, increasing its registered capital from 10 million to 20 million yuan [3] - Jiangxin Home plans to use up to 3 billion yuan of idle self-owned funds for cash management in low-risk financial products [4] - Huangshan Tourism intends to lease part of the Huangshan scenic area for 1.27 billion yuan over a 10-year period [5] Group 3 - Jilin Expressway's general manager has resigned due to work adjustments [6] - Guoyao Modern's subsidiary has received a drug registration certificate for hydromorphone hydrochloride injection, suitable for pain management [8] - Hangya Technology plans to invest up to 70 million USD to establish subsidiaries in Singapore and Malaysia [10] Group 4 - ST Sailong's subsidiary has received approval for the listing of two chemical raw materials [11] - Shanghai Pharmaceuticals' tramadol hydrochloride injection has passed the consistency evaluation for generic drugs [12] - Yubang Electric has obtained a laboratory accreditation certificate from CNAS, indicating its testing capabilities [14] Group 5 - ST Lifang's stock will be subject to delisting risk warning starting December 1 due to administrative penalties [15] - Zhejiang Longsheng is investing 200 million yuan in a private equity partnership focused on high-potential enterprises [15] - Huayang Co., Ltd.'s subsidiary has obtained safety production permits, allowing it to commence production [16] Group 6 - Xujie Electric has won a bid for a State Grid project worth 1.518 billion yuan [17] - Pinggao Electric and its subsidiaries have collectively won a State Grid project worth approximately 773 million yuan [17] - ST Lanhua's subsidiary has entered the trial production phase for a juice beverage project with a total investment of up to 65 million yuan [18] Group 7 - Huakong Saige has terminated its stock issuance plan due to various considerations [19] - Yatong Co., Ltd. plans to invest 36 million yuan to establish a joint venture in renewable energy [20] - Warner Pharmaceuticals has received a drug registration certificate for a new inhalation solution for COPD patients [21] Group 8 - Demais has raised the upper limit for its share repurchase price to 45 yuan per share [22] - China West Electric's subsidiaries have collectively won a State Grid procurement project worth approximately 2.98 billion yuan [22] - Changan Automobile's joint venture has submitted a listing application to the Hong Kong Stock Exchange [23] Group 9 - Yinlun Co., Ltd. plans to invest approximately 133 million yuan to acquire a controlling stake in Shenzhen Deep Blue Electronics [24] - Zhongfu Information intends to increase its wholly-owned subsidiary's capital by 380 million yuan [24] - Financial Street's major shareholder has reduced its stake by 0.25% [25] Group 10 - Audiwei has formally submitted an application for H-share listing [26] - Zhongcai Technology's private placement application has been accepted by the Shenzhen Stock Exchange [27] - Haowei Group's subsidiary plans to invest 200 million yuan in a private equity fund focused on semiconductor investments [28] Group 11 - Jinkai New Energy is planning to transfer 51% of its subsidiary's equity to introduce strategic investors [31] - Huafeng Technology has reduced its fundraising target for a private placement to no more than 972 million yuan [32] - Mindray Medical's chairman plans to increase his stake in the company by 200 million yuan [33] Group 12 - Zhongman Petroleum's shareholders plan to reduce their holdings by up to 3% [35] - Innovation New Materials' shareholder intends to reduce their stake by up to 1% [37] - Guangdong Construction has signed a framework agreement to establish a quality testing base in Linzhi Economic Development Zone [39]

Core Insights - The tourism and scenic spots sector increased by 0.46% on November 28, with Caesar Travel leading the gains [1] - The Shanghai Composite Index closed at 3888.6, up 0.34%, while the Shenzhen Component Index closed at 12984.08, up 0.85% [1] Sector Performance - Caesar Travel (Code: 000796) closed at 6.93, up 3.74% with a trading volume of 992,900 shares and a transaction value of 676 million yuan [1] - Other notable performers included: - Three Gorges Tourism (Code: 002627) at 6.52, up 2.19% [1] - SanTe Cableway (Code: 002159) at 15.58, up 1.50% [1] - Western Region Tourism (Code: 300859) at 36.16, up 1.49% [1] - Tianfu Cultural Tourism (Code: 000558) at 5.91, up 1.37% [1] Decliners - Yunnan Tourism (Code: 002059) closed at 5.64, down 2.42% with a trading volume of 593,000 shares and a transaction value of 331 million yuan [2] - Other notable decliners included: - Xi'an Tourism (Code: 000610) at 12.46, down 2.35% [2] - Qujiang Cultural Tourism (Code: 600706) at 10.91, down 1.45% [2] Capital Flow - The tourism and scenic spots sector experienced a net outflow of 57.08 million yuan from main funds, with retail investors contributing a net inflow of 101 million yuan [2]

截至发稿，黄山旅游市值为82亿元。 每经头条（nbdtoutiao）——已有75人遇难，1名死者为消防员，还有10名消防员受伤！记者现场直击香 港大埔火灾：燃烧的宏福苑，五级大火的五个谜团 （记者 曾健辉） 每经AI快讯，黄山旅游（SH 600054，收盘价：11.2元）11月28日晚间发布公告称，公司第九届第十六 次董事会会议于2025年11月28日以通讯表决方式召开。会议审议了《关于承租黄山风景区温泉游览区部 分资产暨关联交易的议案》等文件。 2025年1至6月份，黄山旅游的营业收入构成为：客运索道业占比37.86%，旅游服务业占比24.85%，酒 店业占比22.23%，景区业务占比14.65%，徽菜业务占比13.88%。 ...

人民财讯11月28日电，黄山旅游（600054）11月28日公告，公司拟向控股股东黄山旅游集团有限公司承 租黄山风景区温泉游览区部分资产及地下热水(温泉)资源有偿使用，租赁期限自协议生效日起10年，租 赁价款为1.27亿元。 ...

证券代码：600054(Ａ股) 股票简称：黄山旅游(Ａ股) 编号：2025-047 900942(Ｂ股) 黄山Ｂ股(Ｂ股) ● 本次交易构成关联交易，不构成《上市公司重大资产重组管理办法》规定 的重大资产重组。 ● 至本次关联交易为止，过去 12 个月内公司与同一关联人进行的交易（不 含本次交易和日常关联交易）累计 1 次，金额为 60 万元；过去 12 个月内公司与 不同关联人进行的相同交易类别下标的相关的交易（不含本次交易和日常关联交 易）金额为 0 元。 ● 风险提示：本次交易涉及后续规划、投资、建设和运营等环节，受经济环 境、宏观政策、行业发展、景区规划以及经营管理等多方面不确定性因素的影响， 本次交易可能存在不达预期的风险。 一、关联交易概述 1、黄山旅游集团有限公司（以下简称"黄山旅游集团"）通过公开竞租方式， 自 2025 年 1 月 1 日起，向黄山风景区管理委员会（以下简称"黄山管委会"）及 其全资子公司黄山鸣泉文化旅游发展有限公司（以下简称"鸣泉公司"，同时作 为黄山管委会该出租事项的委托管理方）承租黄山风景区温泉游览区部分资产及 黄山旅游发展股份有限公司 关于承租黄山风景区温泉游览区部分 ...

证券代码：600054(Ａ股) 股票简称：黄山旅游(Ａ股) 编号：2025-046 900942(Ｂ股) 黄山Ｂ股(Ｂ股) 黄山旅游发展股份有限公司 第九届监事会第十一次会议决议公告 本公司监事会及全体监事保证本公告内容不存在任何虚假记载、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法律责任。 黄山旅游发展股份有限公司（以下简称"公司"）第九届监事会第十一次会 议通知于 2025 年 11 月 25 日以书面送达、传真或者电子邮件等方式发出，会议 于 2025 年 11 月 28 日以通讯表决方式召开。本次会议应出席监事 3 名，实际出 席监事 3 名。本次会议由公司监事会主席方卫东先生召集并主持。本次会议的召 开符合《公司法》和《公司章程》的有关规定。本次会议审议情况如下： 一、审议通过了《关于承租黄山风景区温泉游览区部分资产暨关联交易的 议案》。 表决结果：同意 3 票，反对 0 票，弃权 0 票。 监事会认为：本次公司拟向黄山旅游集团有限公司承租黄山风景区温泉游览 区部分资产暨关联交易事项，可以充分挖掘黄山温泉资源，通过项目打造，有利 于进一步丰富公司旅游产品业态，推动山上山下联动发 ...

具体内容详见公司同日在上海证券交易所网站（www.sse.com.cn）披露的《黄 山旅游发展股份有限公司关于承租黄山风景区温泉游览区部分资产暨关联交易 的公告》（公告编号：2025-047）。 黄山旅游发展股份有限公司（以下简称"公司"）第九届董事会第十六次会 议通知于 2025 年 11 月 25 日以书面送达、传真或者电子邮件等方式发出，会议 于 2025 年 11 月 28 日以通讯表决方式召开。本次会议应出席董事 9 名，实际出 席董事 9 名。本次会议由公司董事长章德辉先生召集并主持。本次会议的召开符 合《公司法》和《公司章程》的有关规定。本次会议审议情况如下： 一、审议通过了《关于承租黄山风景区温泉游览区部分资产暨关联交易的 议案》。 表决结果：同意 6 票，反对 0 票，弃权 0 票。 同意公司向黄山旅游集团有限公司承租黄山风景区温泉游览区部分资产及 地下热水（温泉）资源有偿使用，租赁期限自协议生效日起 10 年，租赁价款为 127,395,860 元。 本议案为关联交易，公司关联董事章德辉、秦国元、胡彩宝回避了表决。本 议案已经公司董事会独立董事专门会议审议通过。 证券代码：600054(Ａ ...

格隆汇11月28日丨黄山旅游(600054.SH)公布，公司拟向黄山旅游集团有限公司承租黄山风景区温泉游 览区部分资产及地下热水（温泉）资源有偿使用，租赁期限自协议生效日起10年，租赁价款为1.27亿 元。 ...