Core Viewpoint - The company has established a wholly-owned subsidiary, Shanghai Xinhengxinrui Technology Co., Ltd., in Shanghai, with a registered capital of 600 million RMB [1] Group 1 - The subsidiary was officially registered on October 16, 2025, and has obtained a business license from the Shanghai Putuo District Market Supervision Administration [1] - The legal representative of the new subsidiary is She Tao [1] - The business scope of the subsidiary includes technology services, development, consulting, exchange, transfer, and promotion [1]

Core Points - The actual controller of Daheng New Era Technology Co., Ltd. has changed from Zheng Suzhen to no actual controller, following the legal issues surrounding Xu Xiang, a well-known private equity fund manager in China [1] - Zheng Suzhen's shares in Daheng Technology were auctioned off, resulting in a total of 1.3 billion shares being sold for 17.12 billion yuan, yielding a profit of 5.1 billion yuan compared to her original purchase price [3] Group 1 - Zheng Suzhen became the largest shareholder of Daheng Technology in 2014 after acquiring 1.3 billion shares for approximately 12.02 billion yuan [2] - The company faced significant challenges following Xu Xiang's legal troubles, which directly impacted its planned 30 billion yuan capital increase project in 2015 [2] - As of the first half of 2025, Daheng Technology reported a revenue of 8.44 billion yuan but incurred a net loss of 2.74 million yuan, indicating a significant decline in financial performance compared to when Zheng Suzhen took control [3] Group 2 - The divorce proceedings between Xu Xiang and Ying Ying have been complicated by the ongoing asset disposals related to Xu's criminal case, with the court not supporting Ying Ying's request for divorce due to insufficient evidence of a broken relationship [4] - Multiple asset disposals related to Xu Xiang's case are still ongoing, with significant amounts of assets, including 210 billion yuan, being subject to legal proceedings [4] - Zheng Suzhen's remaining shares in other companies, such as Wenfeng Co. and Ningbo Zhongbai, are also undergoing judicial sale processes, indicating a broader trend of asset liquidation [5][6]

Core Viewpoint - Daheng Technology's stock has shown significant growth this year, with a year-to-date increase of 69.32%, indicating strong market performance and investor interest [1][2]. Financial Performance - For the first half of 2025, Daheng Technology reported revenue of 844 million yuan, representing a year-on-year growth of 6.89%. However, the company experienced a net loss attributable to shareholders of 2.74 million yuan, although this reflects a substantial improvement with a year-on-year increase of 72.27% [2]. Stock Market Activity - On October 14, Daheng Technology's stock price rose by 2.05%, reaching 14.46 yuan per share, with a total market capitalization of 6.316 billion yuan. The trading volume was 36.64 million yuan, with a turnover rate of 0.59% [1]. - The company has seen net inflows of 127,900 yuan from main funds, with large orders accounting for 20.89% of total purchases and 20.54% of total sales [1]. - Daheng Technology has appeared on the "Dragon and Tiger List" three times this year, with the most recent instance on August 6, where it recorded a net purchase of 40.29 million yuan [1]. Business Overview - Daheng Technology, established on December 14, 1998, and listed on November 29, 2000, is located in Haidian District, Beijing. The company specializes in information technology, office automation, optomechatronics, and digital television network editing and broadcasting systems [1]. - The revenue composition of Daheng Technology includes: machine vision and information technology (73.43%), digital television network editing and broadcasting systems (15.60%), optomechatronics products (9.39%), and other (1.57%) [1]. Shareholder Information - As of June 30, Daheng Technology had 39,800 shareholders, a decrease of 1.75% from the previous period, with an average of 10,980 circulating shares per shareholder, which is an increase of 1.78% [2]. Dividend Information - Since its A-share listing, Daheng Technology has distributed a total of 252 million yuan in dividends, with 8.736 million yuan distributed over the past three years [3].

证券代码：600288 证券简称：大恒科技 编号：临 2025-049 大恒新纪元科技股份有限公司 关于召开 2025 年半年度业绩说明会的公告 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： 会议召开时间：2025 年 10 月 20 日（星期一）13:00-14:00 会 议 召 开 地 点 ： 上 海 证 券 交 易 所 上 证 路 演 中 心 （ 网 址 ： http://roadshow.sseinfo.com/） 大恒新纪元科技股份有限公司（以下简称"公司"）已于 2025 年 8 月 23 日 发布公司 2025 年半年度报告，为便于广大投资者更全面深入地了解公司 2025 年半年度经营成果、财务状况，公司计划于 2025 年 10 月 20 日（星期一） 13:00-14:00 举行 2025 年半年度业绩说明会，就投资者关心的问题进行交流。 会议召开方式：上证路演中心网络互动 会议问题征集：投资者可于 2025 年 10 月 13 日（星期一）至 10 月 17 日 （星期五）16:00 前登 ...

不过，基于第一大股东及其一致行动人持股9.26%，但无法单独决定董事会半数以上成员选任，也难以 对股东大会决议产生重大影响等原因，大恒科技表示，公司将变更为无控股股东、无实际控制人。 徐翔之母郑素贞所持股权被拍卖两个半月后，大恒科技（600288）（SH600288，股价14.12元，市值 61.68亿元）正式变更为无实际控制人状态。 10月10日晚间，大恒科技发布公告称，郑素贞所持股份已通过山东产权交易中心进行公开拍卖，对应股 权已于今年8月8日完成过户登记。随着郑素贞退出，自然人李蓉蓉成为第一大股东，与其一致行动人周 正昌合计持有4046万股。 《每日经济新闻》记者注意到，除了公告实际控制人变更外，此次大恒科技还进一步披露了8位买家的 资金来源等信息。 披露8位买家资金来源 今年7月下旬，备受外界关注的徐翔之母郑素贞所持大恒科技股权被拍卖。8月4日晚间，大恒科技披露 拍卖结果：郑素贞所持有的大恒科技1.3亿股股份最终被7位自然人以及1家公司竞得，分别是：李蓉蓉 （2746万股）、中国新纪元有限公司（1800万股）、王晓平（1800万股）、杨润中（1800万股）、傅泽 远（1730万股）、周正昌（1300万 ...

Core Viewpoint - Dahan Technology (600288.SH) announced a change in its controlling shareholder and actual controller status, resulting in the company entering a state without a controlling shareholder or actual controller due to the judicial auction of shares held by the former actual controller Zheng Suzhen [1] Group 1: Shareholder Change - The former actual controller Zheng Suzhen's nearly 130 million unrestricted circulating shares were judicially auctioned [1] - A total of 12,996,000 shares were acquired by eight entities, with a total transaction amount of 1.712 billion yuan, at a price of 13.17 yuan per share [1] Group 2: Funding Sources - The Shanghai Stock Exchange issued a regulatory letter focusing on the funding sources and relationships among the bidders [2] - The total bidding funds of 1.712 billion yuan included both self-owned and self-raised funds from the eight buyers [2] - Specific funding details include: - Li Rongrong: 362 million yuan (242 million yuan self-owned, 120 million yuan borrowed at 9% interest) [2] - Zhou Zhengchang: 171 million yuan (entirely self-owned funds) [2] - Wang Xiaoping: 237 million yuan (204 million yuan self-owned, 33 million yuan borrowed at 5% interest) [2] - Fu Zeyuan: 228 million yuan (84.86 million yuan self-owned, 143 million yuan borrowed at 12% interest) [2] - Huang Li: 126 million yuan (9 million yuan borrowed at 10% interest) [2] - Hua Jinzhao: 113 million yuan (27.27 million yuan self-owned, 86 million yuan borrowed at 4.5% interest) [2] - Yang Runzhong: 237 million yuan (entirely self-owned funds) [2] - China New Era: 237 million yuan (partly from its subsidiary) [2]

Core Viewpoint - The judicial auction of approximately 130 million unrestricted circulating shares held by Zheng Suzhen, the controlling shareholder of Daheng Technology, marks the end of the Xu Xiang family's involvement in the A-share market, leading to the company becoming "ownerless" [1][3][12]. Group 1: Company Ownership Changes - Daheng Technology announced that Zheng Suzhen has completely exited the company, resulting in a change of control to a state with no controlling shareholder or actual controller [3][4]. - The auction was completed with a total transaction price of approximately 1.712 billion yuan, with the new shareholders including seven individuals and one corporate entity, China New Era [1][3]. Group 2: Background of New Shareholders - Li Rongrong has become the largest shareholder of Daheng Technology, holding 40.46 million shares, which is 9.26% of the total share capital, with funding sources including 242 million yuan of personal funds and 120 million yuan of self-raised funds [3][4]. - China New Era, the only corporate buyer, provided approximately 237 million yuan for the auction, all from its own funds [4][7]. Group 3: Financial Implications and Market Reactions - The financing costs for some new shareholders are notably high, with borrowing rates reaching up to 12%, raising concerns about the financial stability of the new ownership structure [5][6]. - Analysts suggest that the absence of a controlling shareholder may lead to instability in control and potential shareholder disputes, necessitating stronger governance mechanisms [5][6]. Group 4: Company Performance and Future Plans - Daheng Technology has experienced a decline in net profit for three consecutive years, with a reported loss of 2.7405 million yuan in the first half of the current year [8]. - The company plans to establish a wholly-owned subsidiary in Shanghai with an investment of 600 million yuan to engage in semiconductor-related auxiliary equipment business, aiming to enhance its strategic development [8].

10月10日晚间，大恒科技公告称，郑素贞所持股份已通过山东产权交易中心进行公开拍卖，对应股权已 于今年8月8日完成过户登记。随着郑素贞退出，自然人李蓉蓉成为第一大股东，与其一致行动人周正昌 合计持有4046万股。 不过，基于第一大股东及其一致行动人持股9.26%，但无法单独决定董事会半数以上成员选任，也难以 对股东大会决议产生重大影响等原因，大恒科技表示，公司将变更为无控股股东、无实际控制人。 《每日经济新闻》注意到，除了公告实控人变更外，此次大恒科技还进一步披露了8位买家的资金来源 等信息。 资金来源：自有资金+高息借钱 名字曾多次出现在徐翔相关公司中 今年7月下旬，备受外界关注的徐翔之母郑素贞所持大恒科技股权被拍卖。8月4日晚间，大恒科技披露 拍卖结果：郑素贞所持有的大恒科技1.3亿股股份最终被7位自然人以及1家公司竞得，分别是：李蓉蓉 （2746万股）、中国新纪元有限公司（1800万股）、王晓平（1800万股）、杨润中（1800万股）、傅泽 远（1730万股）、周正昌（1300万股）、黄鹂（960万股）、华锦洲（860万股）。 其中，李蓉蓉因其疑似宁波海关中干的身份引起外界关注，但据每经记者了解，其并非 ...

Core Viewpoint - The auction of shares held by Zheng Suzhen, mother of Xu Xiang, has resulted in Daheng Technology (600288.SH) transitioning to a state without a controlling shareholder, following the completion of the share transfer on August 8. The new largest shareholder is Li Rongrong, who, along with her concerted actor Zhou Zhengchang, holds a combined 9.26% of the shares, insufficient to influence board decisions or shareholder resolutions significantly [2][3]. Shareholder Changes - Zheng Suzhen's 130 million shares were auctioned off to seven individuals and one company, with Li Rongrong acquiring 27.46 million shares, making her the largest shareholder [3]. - The auction results revealed that the new shareholders, including Li Rongrong and Zhou Zhengchang, do not have the ability to control the board or make significant decisions due to their limited shareholding [2][3]. Funding Sources - Li Rongrong's total investment in the auction was 362 million yuan, with 242 million yuan from personal funds and 120 million yuan sourced from high-interest loans [4][5]. - Zhou Zhengchang's investment of 171 million yuan was entirely from family funds, with his personal contribution being approximately 32,740 yuan after accounting for contributions from relatives [5]. High-Interest Borrowing - Several auction participants, including Li Rongrong, opted for high-interest loans to finance their bids, with interest rates reaching as high as 12% [5]. - The rationale for such borrowing was explained by Daheng Technology, indicating that the buyers did not gain control of the company and thus could not apply for acquisition loans, leading to reliance on high-interest financing [5]. Relationship with China New Era - The involvement of China New Era, the former controlling shareholder, played a significant role in the auction process, as they represented the interests of the buyers during the bidding [6]. - The buyers, including Fu Zeyuan, were informed about the auction through connections to China New Era, indicating a potential influence on the auction dynamics [6]. Future Business Plans - Following the transition to a no-controlling-shareholder status, Daheng Technology announced plans to invest 600 million yuan to establish a wholly-owned subsidiary focused on the semiconductor industry, despite lacking prior experience or resources in this field [7]. - The parent company, China New Era, holds a significant stake in Ningbo Electronic Information Group, which possesses semiconductor-related assets, suggesting potential synergies or strategic alignments in future business endeavors [8].

徐翔之母郑素贞所持股权被拍卖两个半月后，大恒科技（600288.SH，股价14.12元，市值61.68亿元） 正式变更为无实控人状态。 10月10日晚间，大恒科技公告称，郑素贞所持股份已通过山东产权交易中心进行公开拍卖，对应股权已 于今年8月8日完成过户登记。随着郑素贞退出，自然人李蓉蓉成为第一大股东，与其一致行动人周正昌 合计持有4046万股。 不过，基于第一大股东及其一致行动人持股9.26%，但无法单独决定董事会半数以上成员选任，也难以 对股东大会决议产生重大影响等原因，大恒科技表示，公司将变更为无控股股东、无实际控制人。 对于高利率借款的合理性，大恒科技解释称：该等买受人参与司法拍卖，并未取得上市公司控制权，故 无法申请并购贷款；借款需求提出、银行内部审批、合同签署到借款资金到位所需时间周期较长，无法 解决前述买受人的短期资金需求；相关融资成本与民间借贷的利率水平相当。 《每日经济新闻》注意到，除了公告实控人变更外，此次大恒科技还进一步披露了8位买家的资金来源 等信息。 资金来源：自有资金+高息借钱 名字曾多次出现在徐翔相关公司中 今年7月下旬，备受外界关注的徐翔之母郑素贞所持大恒科技股权被拍卖。8月4 ...