Group 1 - The announcement from Shandong Hi-Speed Company indicates a potential financial impact due to the merger with Dongxing Securities, with an expected impairment provision of approximately 690 million yuan for long-term equity investments in 2025, which will reduce the company's consolidated profit for that year by the same amount [2] - The impairment provision is based on relevant accounting standards and policies, and the final accounting treatment will be confirmed in the company's 2025 annual report [2] - The exchange price for Dongxing Securities shares is set at 16.14 yuan per share, reflecting a 26% premium over the average trading price of 12.81 yuan per share over the previous 20 trading days, with an exchange ratio of 1:0.4373 [2] Group 2 - The impairment provision is classified as a one-time, non-cash accounting loss under accounting standards, meaning it will not result in an outflow of cash for the company [3] - Shandong Hi-Speed's current cash flow situation remains stable [3]

Group 1 - Zhongwei Company plans to acquire controlling stake in Hangzhou Zhonggui through share issuance, with stock suspension starting December 19, 2025, for up to 10 trading days [1] - Qibin Group's subsidiary plans to establish Shenzhen Qibin New Energy Technology Co., with a registered capital of 600 million yuan to enhance photovoltaic glass supply chain efficiency [2] - Boying Special Welding's HRSG equipment is primarily matched with heavy gas turbines, with a production cycle of about 6 months, responding to increased demand in the U.S. market [3] Group 2 - Hongda Electronics' associate Jiangsu Zhanxin's application for IPO on the ChiNext has been accepted, with Hongda holding 13.79% of shares prior to the offering [5] - Yinxing Energy plans to acquire 50% stake in Tianjing Shenzhou for 20.15275 million yuan, which will enhance its renewable energy capacity [6] - Nandu Power's controlling shareholder has terminated plans for a change in control, leading to stock resumption on December 19, 2025 [7] Group 3 - Xibu Mining's subsidiary has obtained a mining license for iron resources, supporting sustainable development in the iron resource sector [9] - Shandong Expressway plans to provision for a long-term equity investment impairment of approximately 690 million yuan related to Dongxing Securities [10] - Tianfeng Securities has signed a supplementary agreement to extend the term of a 4 billion yuan subordinated debt by one year, with an adjusted interest rate of 4% [11] Group 4 - Shandong Zhanggu has received an administrative regulatory decision from the Shandong Securities Regulatory Commission for various compliance issues [12] - Nanjing Pharmaceutical plans to invest 120 million yuan to establish a medical device investment company, focusing on acquiring a stake in Ningbo Jiangfeng [13] - Hailianxun has received approval from the CSRC for a share swap merger with Hangzhou Steam Turbine, proceeding with related transactions [14] Group 5 - Luyuan Pharmaceutical reports normal operations with no significant changes in the internal and external business environment [15] - Nanhua Futures has set the H-share public offering price at 12 HKD per share, with expected listing on December 22, 2025 [17] - Visionox plans to invest 3.918 billion yuan in the second phase of the Hefei Guoxian AMOLED production line project, increasing its stake to 37.73% [18] Group 6 - Sichuan Road and Bridge has been acquired by Zhong Postal Insurance, reaching a 5% stake [19] - Boshuo Technology's directors plan to reduce their holdings by up to 18,300 shares [20] - O-film's controlling shareholder transferred 67.7048 million shares to settle debts, maintaining control with a 5.78% stake post-transfer [21] Group 7 - Junshi Biosciences' shareholder plans to reduce holdings by up to 2% through block trading [22] - Lihu Co. plans to reduce holdings by up to 2.98% through various trading methods [23] - Ruichen Environmental plans to reduce holdings by up to 3% through trading [25] Group 8 - Zhongfutong received a winning bid notification for a project worth approximately 411 million yuan [29] - Shikong Technology won a 141 million yuan project for smart cultural tourism integration [30] - Ningbo Construction's subsidiary won a 747 million yuan engineering project [31]

Core Viewpoint - Shandong Hi-Speed disclosed potential financial impacts related to the merger of CICC and Dongxing Securities, indicating a significant impairment provision for long-term equity investments in 2025 [1] Financial Impact - The company plans to recognize an impairment provision of approximately 690 million yuan for Dongxing Securities, which is expected to reduce the consolidated profit for 2025 by the same amount [1] - This impairment provision is unaudited and the final accounting treatment will be confirmed in the 2025 annual report [1] Merger Details - CICC will issue A-shares to all A-share shareholders of Dongxing Securities to achieve the merger, with the exchange price set at 16.14 yuan per share, reflecting a 26% premium over the average trading price of 12.81 yuan per share over the previous 20 trading days [1] - The exchange ratio for the merger is established at 1:0.4373 [1] Cash Flow Status - The impairment provision is classified as a one-time, non-cash accounting loss, which will not affect the company's cash flow [1] - Shandong Hi-Speed maintains a stable cash flow position [1]

★ 宏观动态 ★ 在今天（18日）下午召开的商务部例行新闻发布会上，新闻发言人何亚东针对稀土相关物项出口管制的最新进 展进行回应。商务部新闻发言人何亚东表示，对稀土相关物项实施出口管制以来，中方主管部门向中国出口商 进行了政策宣介，随着相关出口和合规经验的积累，部分中国出口商已初步达到申请通用许可的基本要求。据 我所知，目前已收到并批准了部分中国出口商提交的通用许可申请。 韩国计划孵化万家AI等硬科技初创企业 据新华社，韩国政府计划今后五年内在人工智能(AI)等硬科技领域孵化1万家初创企业，推动这些企业成长为 韩国经济发展的重要力量。韩联社报道说，韩国中小风险企业部12月18日会同有关部门发布"迈向全球四大创 投强国综合对策"并提出多个目标，包括孵化1万家AI等硬科技领域初创企业、打造50家独角兽和"十角兽"企 业、推动企业对接年规模约40万亿韩元（约合1904亿元人民币）的全球风险投资市场。 ★ 金融机构 ★ 中金公司：2025年半年度共计派发现金红利4.34亿元 国务院办公厅印发《关于全链条打击涉烟违法活动的意见》 国务院办公厅日前印发《关于全链条打击涉烟违法活动的意见》，提出一系列针对性政策举措，解决烟 ...

Group 1 - The company Shandong Hi-Speed announced plans to recognize an impairment provision for its long-term equity investment in the joint venture Dongxing Securities, estimated at approximately 690 million yuan for the fiscal year 2025 [1] - This impairment is expected to reduce the company's consolidated profit for the fiscal year 2025 by about 690 million yuan, with the final accounting treatment and impact to be confirmed in the 2025 annual report [1] - For the year 2024, the company's revenue composition includes: 33.88% from highway tolls, 26.27% from construction services, 12.09% from merchandise sales, 10.53% from electromechanical engineering construction, and 8.76% from railway transportation [1] Group 2 - As of the report date, Shandong Hi-Speed has a market capitalization of 45.4 billion yuan [2]

| | 夏公司 在用的商业查询工具 | 童老板 音关系 查风险 | | | | | --- | --- | --- | --- | --- | --- | | | 中小企业发展子基金旗下机构 | 济南儒商嘉逸产业投资合伙企业(有限合伙) | × 天眼一下 | 一 NE ▼ | 商务合作 1 | | 基本信息 5 | 法律诉讼 | 经营风险 | 经营信息 | 公司发展 | 知训 | | 工商信息 ● | | | | | | | 工商信息 历史工商信息0 | | | | | | | 企业名称 | 济南儒商嘉逸产业投资合伙企业(有限合伙) | | | | | | 执行事务合伙人 | 山东通汇儒商新动能投资有限公 道江 | 登记状态 ② | 开业 | | 天眼评分 2 | | | 信同 司 | 成立日期 | 2025-12-16 | | | | 统一社会信用代码 2 | 91370102MAK42DAN56 | 出资额 | 1010010万人民币 | | 实缴资本 | | 工商注册号 | 370102300171613 | 纳税人识别号 ② | 91370102MAK42DAN56 | | 组织机构代码 (? | | ...

Core Viewpoint - Shandong Hi-Speed (600350.SH) plans to recognize an impairment provision of approximately 690 million yuan for its long-term equity investment in Dongxing Securities in the 2025 fiscal year, which will reduce the company's consolidated profit by the same amount [1] Financial Impact - The impairment provision is estimated to be around 690 million yuan, which will lead to a decrease in the total profit of the consolidated financial statements for the year 2025 by the same amount [1] - The impairment amount has not been audited, and the final accounting treatment and its impact on the company's 2025 profit will be confirmed in the annual report to be disclosed by the company [1]

Core Viewpoint - Shandong Hi-Speed (600350.SH) plans to recognize an impairment provision of approximately 690 million yuan for its long-term equity investment in Dongxing Securities in the 2025 fiscal year, which is expected to reduce the company's consolidated profit by the same amount [1] Financial Impact - The impairment provision is based on the company's adherence to relevant accounting standards and policies, specifically the Accounting Standards for Enterprises No. 2 and No. 8 [1] - The estimated impairment amount of 690 million yuan is subject to final audit and will be confirmed in the company's 2025 annual report [1]

证券代码：600350 证券简称：山东高速 公告编号：2025-086 山东高速股份有限公司 关于拟计提减值准备的提示性公告 本公司董事会及全体董事保证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。 山东高速股份有限公司（以下简称"公司"） 根据《企业会计准则第 2 号- 长期股权投资》《企业会计准则第 8 号-资产减值》及公司会计政策等相关规定， 2025 年度拟计提东兴证券股份有限公司（以下简称"东兴证券"）对应长期股权 投资减值准备约 6.9 亿元，预计导致公司 2025 年度合并报表利润总额减少约 6.9 亿元。 本次计提减值准备金额未经审计，最终会计处理及对公司 2025 年度利润的 影响以公司披露的 2025 年年度报告为准。 三、风险提示 （一）公司本次拟计提的减值准备金额为公司初步测算结果，最终计提金额 以公司披露的 2025 年年度报告为准。敬请广大投资者谨慎决策，注意投资风险。 （二）公司本次拟计提减值准备事项待计提金额确定后尚需经公司董事会审 计委员会、董事会审议通过。 特此公告。 山东高速股份有限公司董事会 一、计提减值准备概述 ...

格隆汇12月18日丨山东高速(600350.SH)公布，公司根据《企业会计准则第2号-长期股权投资》《企业 会计准则第8号-资产减值》及公司会计政策等相关规定，2025年度拟计提东兴证券股份有限公司（以下 简称"东兴证券"）对应长期股权投资减值准备约6.9亿元，预计导致公司2025年度合并报表利润总额减 少约6.9亿元。 本次计提减值准备金额未经审计，最终会计处理及对公司2025年度利润的影响以公司披露的2025年年度 报告为准。 ...