Core Viewpoint - The stock price of Lianmei Holdings (600167.SH) has declined to a new low since mid-December 2025, primarily due to continuous revenue decline and pressure on profit quality [1] Financial Performance - Revenue has been on a downward trend, with a reported revenue of 2.156 billion yuan for the first three quarters of 2025, a year-on-year decrease of 6.19%, continuing the contraction trend from 2024, which saw a decline of 0.51% [1] - Despite a year-on-year increase of 6.88% in net profit attributable to shareholders, reaching 543 million yuan, the non-recurring net profit fell by 8.15% to 463 million yuan, with net cash flow from operating activities worsening to -334 million yuan [1] - The third quarter of 2025 saw a significant decline in performance, with a year-on-year revenue drop of 26.0% and a non-recurring net profit loss of 37.03 million yuan, a drastic decrease of 821.65% [1] Market Conditions - The short-term funding environment is weak, with a net outflow of 6.816 million yuan on February 13, and a cumulative net outflow of 123 million yuan over the past five days, indicating strong selling intentions from large investors [2] - Low liquidity has exacerbated stock price volatility, with an average daily trading volume of less than 50 million yuan and a turnover rate below 0.4% [2] Company Valuation - The stock price has fallen below all key moving averages (5-day, 10-day, and 20-day averages at 6.90 yuan, 6.92 yuan, and 7.10 yuan respectively), with the MACD histogram turning negative at -0.022 and the KDJ indicator showing a K value of only 12.56, indicating an oversold condition but insufficient momentum [3] - The current price-to-earnings ratio (TTM) stands at 22.17, above the industry average of approximately 20, with a limited upside potential of about 8.09% to the institutional target price of 7.35 yuan [3] Company Fundamentals - The advertising business has been a drag, with the subsidiary Zhaoxun Media (301102) experiencing a 47.75% year-on-year decline in net profit in the first half of 2025, negatively impacting overall profits [4] - The company's strategic investments in hydrogen energy and AI computing have yet to yield scalable revenue, leading to market skepticism regarding the effectiveness of its transformation [4]

Core Viewpoint - The announcement details the partial pledge and release of shares by the controlling shareholder of Lianmei Quantum Co., Ltd., indicating a stable financial situation and manageable risks associated with the pledged shares [2][5]. Group 1: Share Pledge and Release Details - The controlling shareholder, Lianzhong New Energy Co., Ltd., holds a total of 1,198,817,284 shares, representing 52.98% of the company's total equity. A total of 122,000,000 shares were pledged, while 135,000,000 shares were released from pledge [2][3]. - After the pledge and release, Lianzhong New Energy has a cumulative pledge of 453,780,000 shares, which is 37.85% of its total holdings [2][3]. Group 2: Cumulative Pledge Situation - Lianzhong New Energy and its concerted party, Lianmei Group Co., Ltd., collectively hold 1,588,777,742 shares, accounting for 70.21% of the company's issued shares. The total number of pledged shares is 604,980,000, which is 26.74% of the total equity and 38.08% of their combined holdings [2][4]. Group 3: Impact on the Company - The financial status of Lianzhong New Energy is reported to be good, with adequate repayment capability. The risks associated with the pledged shares are considered controllable, and there will be no change in the actual control of the company or impact on its operations and governance [5].

Core Viewpoint - Lianmei Holdings announced that its controlling shareholder, Lianzhong New Energy, holds approximately 1.199 billion shares, accounting for 52.98% of the company's total equity [1] Shareholding Summary - Lianzhong New Energy has pledged approximately 454 million shares, representing 37.85% of its total holdings [1] - Together with its concerted party, Lianmei Group, they hold about 1.589 billion shares, which is 70.21% of the company's issued shares [1] - The total number of pledged shares amounts to approximately 605 million, making up 26.74% of the company's total equity and 38.08% of the combined holdings of Lianzhong New Energy and Lianmei Group [1]

证券代码：600167 证券简称：联美控股 公告编号：2026-005 联美量子股份有限公司 关于公司控股股东股份部分质押及解质押的公告 重要内容提示: 联美量子股份有限公司（以下简称"公司"）控股股东联众新能 源有限公司（以下简称"联众新能源"）持有上市公司股份总数为 1,198,817,284 股，占公司总股本的 52.98%。本次部分质押股份为 122,000,000 股股份，本次质押后再解质押 135,000,000 股股份，上 述质押及解质押均在兴业银行股份有限公司沈阳分行办理。截至本次 质押及解质押完成后，联众新能源持有上市公司股份累计质押股份数 为 453,780,000 股，占其持股数量比例 37.85%。 联众新能源及其一致行动人联美集团有限公司（以下简称"联美 集团"）共持有公司股份 1,588,777,742 股，占公司已发行总股份的 70.21%。截至本次质押及解质押完成，合计已质押的股份数量为 604,980,000 股，占公司总股本的 26.74%，占联众新能源和联美集团 合计持有股份的 38.08%。 一.股份质押及解质押情况 公司收到控股股东联众新能源通知，于 2026 年 2 ...

北京德恒律师事务所 关于联美量子股份有限公司 北京德恒律师事务所 关于联美量子股份有限公司 2026 年第一次临时股东会的 法律意见 2026 年第一次临时股东会的 法律意见 北京市西城区金融街 19 号富凯大厦 B 座 12 层 电话:010-52682888 传真:010-52682999 邮编:100033 北京德恒律师事务所 关于联美量子股份有限公司 2026 年第一次临时股东会的法律意见 （一）《公司章程》； （二）董事会决议及相关股东会审议的议案； （三）公司于 2026 年 1 月 24 日在上海证券交易所网站公布的《联美量子股 份有限公司关于召开 2026 年第一次临时股东会的通知》（以下简称"《股东会 的通知》"）； （四）公司本次会议现场参会股东到会登记记录及凭证资料； （五）公司本次会议股东表决情况凭证资料； （六）本次会议其他会议文件。 1 德恒 01G20250647 号 致：联美量子股份有限公司 联美量子股份有限公司（以下简称"公司"）2026 年第一次临时股东会（以 下简称"本次会议"）于 2026 年 2 月 9 日（星期一）召开。北京德恒律师事务 所公司委托，指派李哲律师、王 ...

一、 会议召开和出席情况 | 1、出席会议的股东和代理人人数 | 222 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 1,508,419,547 | | 3、出席会议的股东所持有表决权股份数占公司有表决权股 | | | 份总数的比例（%） | 66.6604 | (四) 表决方式是否符合《公司法》及《公司章程》的规定，会议主持情况等。 公司董事长苏壮强先生主持本次股东会，会议由现场投票和网络投票相结合的方 式进行表决，符合《公司法》及《公司章程》的规定。 (五) 公司董事和董事会秘书的列席情况 (一) 股东会召开的时间：2026 年 2 月 9 日 (二) 股东会召开的地点：辽宁省沈阳市浑南新区远航中路 1 号公司会议室 (三) 出席会议的普通股股东和恢复表决权的优先股股东及其持有股份情况： 证券代码：600167 证券简称：联美控股 公告编号：2026-004 联美量子股份有限公司 2026年第一次临时股东会决议公告 本公司董事会及全体董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。 重要内容提示： ...

联美量子股份有限公司 2026 年第一次临时股东会会议材料 联美量子股份有限公司 2026 年第一次临时股东会会议材料 2026 年 2 月 9 日 1 2026 年第一次临时股东会会议议程 2 一、参加会议人员 1、 主 持 人：董事长 苏壮强 先生 2、 参加人员：股东及授权代表、部分董事 3、 列席人员：律师 联美量子股份有限公司 2026 年第一次临时股东会会议材料 二、 会议时间及内容 1、股东会届次：联美量子股份有限公司 2026 年第一次临时股东 会 2、股东会的召集人：联美量子股份有限公司董事会 3、投票方式：现场投票与网络投票相结合的方式 联美量子股份有限公司 2026 年第一次临时股东会会议材料 联美量子股份有限公司 4、现场会议召开的日期、时间 现场会议召开时间：2026 年 2 月 9 日下午 14:30 开始； 现场会议召开地点：辽宁省沈阳市浑南新区远航中路 1 号公司会 议室 5、网络投票的系统、起止日期和投票时间 网络投票系统：上海证券交易所股东会网络投票系统 网络投票起止日期：2026 年 2 月 9 日-2026 年 2 月 9 日 网络投票时间：采用上海证券交易所网络投票系 ...

Core Viewpoint - The heating industry in China is undergoing a significant transformation towards cleaner, smarter, and more efficient energy solutions, driven by the dual carbon goals and the need for green transition as outlined in national planning documents [1][11]. Group 1: Industry Transformation - The heating sector is shifting from high carbon reliance to clean and diversified energy sources, emphasizing smart management and quality improvement [1]. - The share of combined heat and power (CHP) in the heating system is currently 46%, while renewable and other clean energy sources account for only 19% [2]. - From 2013 to 2023, the area of centralized heating increased by 61%, while energy consumption and carbon emissions grew by only 20% and 17.3%, respectively, indicating effective environmental upgrades and technological advancements [2]. Group 2: Technological Advancements - New technologies such as low-nitrogen combustion have improved boiler efficiency to 90%, achieving ultra-low emissions through advanced treatment processes [3]. - The upgrade of older boilers to new circulating fluidized bed steam boilers has resulted in over a 15% increase in thermal efficiency [3]. - The implementation of smart heating systems, including IoT sensors and intelligent control centers, has transformed traditional heating management into a proactive, self-optimizing system [7][8]. Group 3: Clean Energy Expansion - The use of middle water source heat pumps can provide zero-carbon heating for 3.1 million square meters, saving approximately 40,000 tons of standard coal and reducing CO2 emissions by about 110,000 tons annually [4]. - The largest nuclear heating demonstration project in China, "Warm Nuclear No. 1," has expanded its service to additional cities, enhancing clean heating availability [4]. - The potential for clean energy replacement is significant, with estimates suggesting that replacing 100 million tons of standard coal could reduce CO2 emissions by 260 million tons [5]. Group 4: Future Market Potential - The smart heating market in China is projected to exceed 480 billion yuan by 2030, with clean energy expected to account for over 50% of the energy mix [11]. - Companies like Huashun Heating Group plan to invest 240 million yuan in projects such as geothermal heat pumps and distributed photovoltaics, aiming to add 2.92 million GJ/year of clean heating capacity [11]. - The growth logic of the heating industry is shifting from scale expansion to efficiency enhancement and value extension [11].

Group 1 - The core point of the article is that Lianmei Holdings announced the nomination of Mr. Wang Zhenyu as a candidate for the non-independent director of the company's ninth board of directors [2]

Group 1 - The company, Lianmei Holdings, announced that its ninth board meeting will be held on January 23, 2026, combining in-person and communication methods [1] - The meeting will review the proposal for the re-election of a non-independent director on the ninth board [1] Group 2 - Local state-owned assets are beginning to "bottom out" by purchasing auctioned properties, acquiring over 60 units in the Nansha District of Guangzhou at prices around 6,000 to 7,000 yuan per unit [1] - The average listing price for second-hand houses in the same community exceeds 20,000 yuan [1]