股票代码：600539 股票简称：狮头股份 上市地点：上海证券交易所 狮头科技发展股份有限公司 发行股份及支付现金购买资产并募集配套资金 暨关联交易报告书（草案） （修订稿） | 交易类型 | 交易对方 | | --- | --- | | 发行股份及支付现金 | 王旭龙琦、邓浩瑜、李言衡、杭州利珀投资管理合伙企业（有限合 | | | 伙）、深圳芯瑞创业投资合伙企业（有限合伙）、深圳众微首润智 | | | 能装备创业投资合伙企业（有限合伙）、江苏疌泉元禾璞华股权投 | | | 资合伙企业（有限合伙）、江苏省现代服务业发展创业投资基金（有 | | 购买资产 | 限合伙）、江苏中小企业发展基金（有限合伙）、南京齐芯高精尖 | | | 一号股权投资合伙企业（有限合伙）、醴陵众微创新创业投资基金 | | | 合伙企业（有限合伙）、深圳市西博捌号新技术创业投资合伙企业 | | | （有限合伙）、海南隆晟基业投资合伙企业（有限合伙）、深圳市 | | | 辰峰启顺投资合伙企业（有限合伙） | | 募集配套资金 | 重庆益元企业管理有限公司、重庆益诚企业管理有限公司 | 独立财务顾问 二〇二五年十一月 公司声明 本公司及全体董 ...

Core Points - Lionhead Co., Ltd. announced on November 11 that it submitted an application to the Shanghai Stock Exchange for issuing shares and cash to acquire assets and raise supporting funds, referred to as "this transaction" [2] - The company received a notification from the Shanghai Stock Exchange on September 8, 2025, regarding the acceptance of its application for the issuance of shares to purchase assets and raise supporting funds [2] - The legal advisor for this transaction was initially Guohao Law Firm (Nanjing), with signing lawyers Yu Wei, Yang Wenxuan, and Chen Huiyu, but has now changed to Yu Wei and Chen Huiyu due to Yang Wenxuan's departure from the firm [2]

国浩律师（南京）事务所 关于变更签字律师的承诺函 一、基本情况 狮头科技发展股份有限公司（以下简称"狮头股份"或"上市公司"）于 2025 年 8 月 27 日向上海证券交易所提交了发行股份及支付现金购买资产并募集配套 资金暨关联交易（以下简称"本次交易"）的申请。2025 年 9 月 8 日，狮头股份 收到上海证券交易所出具的《关于受理狮头科技发展股份有限公司发行股份购买 资产并募集配套资金申请的通知》（上证上审（并购重组）〔2025〕71 号）。本次 变更前，本次交易的法律顾问为国浩律师（南京）事务所，签字律师为于炜、杨 文轩、陈慧宇，现拟变更为于炜、陈慧宇。 二、变更事由 原签字律师杨文轩已从国浩律师（南京）事务所离职。 四、律师事务所及相关签字律师具体承诺 原签字律师杨文轩承诺对此前签署材料的真实性、准确性、完整性负责，并 将一直承担相应法律责任。 本所对原签字律师杨文轩的承诺进行复核，认为杨文轩律师已履行尽职调查 义务，并出具专业意见。本所承诺对于炜律师、杨文轩律师、陈慧宇律师签署的 1 相关文件均予以认可并承担相应法律责任，确保此前出具文件不存在虚假记载、 误导性陈述和重大遗漏。 三、变更后律师事 ...

特此公告。 狮头科技发展股份有限公司董事会 2025 年 11 月 12 日 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个别及连带责任。 狮头科技发展股份有限公司（以下简称"公司"）于 2025 年 8 月 27 日向上 海证券交易所提交了发行股份及支付现金购买资产并募集配套资金暨关联交易 （以下简称"本次交易"）的申请。2025 年 9 月 8 日，公司收到上海证券交易所 出具的《关于受理狮头科技发展股份有限公司发行股份购买资产并募集配套资金 申请的通知》（上证上审（并购重组）〔2025〕71 号）。 本次变更前，本次交易的法律顾问为国浩律师（南京）事务所，签字律师为 于炜、杨文轩、陈慧宇，现变更为于炜、陈慧宇。变更原因为：原签字律师杨文 轩已从国浩律师（南京）事务所离职。具体内容详见公司于 2025 年 11 月 12 日 披露的《狮头科技发展股份有限公司关于变更签字律师的专项说明》《东方证券 股份有限公司关于狮头科技发展股份有限公司发行股份及支付现金购买资产并 募集配套资金暨关联交易变更签字律师的专项说明》《国浩律师（南京）事 ...

狮头科技发展股份有限公司 关于变更签字律师的专项说明 变更后签字人员的基本情况（相关资格、从业情况等）： 于炜律师，毕业于南京师范大学，已获得中国律师资格，律师执业证号： 13201201110123304。于炜律师主要从事公司证券法律业务， 执业领域包括企业 改制上市、重组并购、私募股权基金等。 陈慧宇律师，毕业于西南政法大学、英国杜伦大学，已获得中国律师资格， 律师执业证号：13201202511924507。陈慧宇律师主要从事公司证券法律业务，执 业领域包括企业改制上市、重组并购、私募股权基金等。 一、基本情况 狮头科技发展股份有限公司（以下简称"狮头股份"或"上市公司"）于 2025 年 8 月 27 日向上海证券交易所提交了发行股份及支付现金购买资产并募集配套 资金暨关联交易（以下简称"本次交易"）的申请。2025 年 9 月 8 日，狮头股份 收到上海证券交易所出具的《关于受理狮头科技发展股份有限公司发行股份购买 资产并募集配套资金申请的通知》（上证上审（并购重组）〔2025〕71 号）。本 次变更前，本次交易的法律顾问为国浩律师（南京）事务所，签字律师为于炜、 杨文轩、陈慧宇，现拟变更为于炜、陈 ...

东方证券股份有限公司 关于狮头科技发展股份有限公司发行股份及支付现金购买 于炜律师，毕业于南京师范大学，已获得中国律师资格，律师执业证号： 13201201110123304。于炜律师主要从事公司证券法律业务， 执业领域包括企业 改制上市、重组并购、私募股权基金等。 资产并募集配套资金暨关联交易 变更签字律师的专项说明 上海证券交易所： 一、基本情况 狮头科技发展股份有限公司（以下简称"狮头股份"或"上市公司"）于 2025 年 8 月 27 日向上海证券交易所提交了发行股份及支付现金购买资产并募集 配套资金暨关联交易（以下简称"本次交易"）的申请。2025 年 9 月 8 日，狮头 股份收到上海证券交易所出具的《关于受理狮头科技发展股份有限公司发行股份 购买资产并募集配套资金申请的通知》（上证上审（并购重组）〔2025〕71 号）。 东方证券股份有限公司（以下简称"东方证券"）作为本次交易的独立财务顾问。 本次变更前，本次交易的法律顾问为国浩律师（南京）事务所，签字律师为于炜、 杨文轩、陈慧宇，现拟变更为于炜、陈慧宇。 二、变更事由 原签字律师杨文轩已从国浩律师（南京）事务所离职。 经核查，上述变更事由属实 ...

Market Overview - On November 7, the internet e-commerce sector declined by 0.8%, with Qingmu Technology leading the drop [1] - The Shanghai Composite Index closed at 3997.56, down 0.25%, while the Shenzhen Component Index closed at 13404.06, down 0.36% [1] Stock Performance - Notable gainers included: - Xinxunda (300518) with a closing price of 16.77, up 6.68% and a trading volume of 143,700 shares, totaling 236 million yuan [1] - Guolian Co. (603613) closed at 28.49, up 0.99% with a trading volume of 128,300 shares [1] - Significant decliners included: - Qingmu Technology (301110) closed at 72.92, down 4.07% with a trading volume of 44,300 shares, totaling 328 million yuan [2] - JiaoDian Technology (002315) closed at 44.88, down 3.79% with a trading volume of 72,600 shares [2] Capital Flow - The internet e-commerce sector experienced a net outflow of 60.73 million yuan from institutional investors, while retail investors saw a net inflow of 72.48 million yuan [2] - The overall capital flow indicates a mixed sentiment among different investor types, with retail investors showing a preference for certain stocks [2] Individual Stock Capital Flow - Xinxunda (300518) had a net inflow of 25.59 million yuan from institutional investors, while retail investors had a net outflow of 27.37 million yuan [3] - Qingmu Technology (301110) saw a net inflow of 25.37 million yuan from institutional investors, but a net outflow of 37.90 million yuan from retail investors [3] - Guolian Co. (603613) had a net inflow of 23.83 million yuan from institutional investors, with retail investors experiencing a net outflow of 35.19 million yuan [3]

Market Performance - The internet e-commerce sector rose by 0.53% on November 3, with Guolian Co., Ltd. leading the gains [1] - The Shanghai Composite Index closed at 3976.52, up 0.55%, while the Shenzhen Component Index closed at 13404.06, up 0.19% [1] Stock Performance - Guolian Co., Ltd. (603613) closed at 29.39, with a gain of 3.49% and a trading volume of 159,500 shares, amounting to 467 million yuan [1] - Other notable performers included: - Shitou Co., Ltd. (600539) at 10.93, up 2.15% [1] - ST Tongpu (600365) at 3.36, up 2.13% [1] - Liren Lizhuang (605136) at 9.84, up 2.07% [1] - Jiao Dian Technology (002315) at 48.20, up 1.80% [1] Capital Flow - The internet e-commerce sector experienced a net outflow of 66.54 million yuan from institutional investors and 52.86 million yuan from retail investors, while individual investors saw a net inflow of 119 million yuan [2] - The capital flow for key stocks included: - Guolian Co., Ltd. had a net inflow of 55.05 million yuan from institutional investors [3] - Jiao Dian Technology saw a net inflow of 14.74 million yuan from institutional investors [3] - Star徽股份 (300464) had a net inflow of 12.41 million yuan from institutional investors [3]

Core Insights - The company, Lionhead Co., Ltd., was established in February 1999 and went public in August 2001, providing e-commerce services to brand owners with significant industry experience and channel resource advantages [1] Financial Performance - For Q3 2025, Lionhead's revenue was 330 million yuan, ranking 6th among 8 companies in the industry, with the top competitor, Ruoyuchen, generating 2.138 billion yuan [2] - The company's net profit for the same period was -2.9352 million yuan, also ranking 6th, while the industry leader reported a net profit of 105 million yuan [2] Financial Ratios - As of Q3 2025, Lionhead's debt-to-asset ratio was 24.05%, higher than the previous year's 17.69% and above the industry average of 17.59% [3] - The company's gross profit margin was 31.35%, an increase from 23.50% year-on-year, but still below the industry average of 33.86% [3] Executive Compensation - The chairman, Wu Jiahui, received a salary of 510,800 yuan in 2024, an increase of 241,700 yuan from 2023 [4] - The president, Wu Liangyi, earned 805,200 yuan in 2024, up by 247,300 yuan from the previous year [4] Shareholder Information - As of September 30, 2025, the number of A-share shareholders increased by 51.40% to 21,800, while the average number of circulating A-shares held per account decreased by 33.95% to 10,500 [5]

Core Viewpoint - The company, Lionhead Technology Development Co., Ltd., has announced its third-quarter report for 2025, which includes significant financial data and a proposed acquisition of a majority stake in Hangzhou Lipo Technology Co., Ltd. [9][15] Financial Data Summary - The third-quarter financial report has not been audited [3][7] - The report includes major accounting data and financial indicators, although specific figures are not detailed in the provided text [3][4] Shareholder Information - The company plans to acquire 97.4399% of Hangzhou Lipo Technology from 14 counterparties through a combination of issuing shares and cash payments [6][15] - The acquisition has been approved by the company's board and is pending regulatory approvals from the Shanghai Stock Exchange and the China Securities Regulatory Commission [6][17] Meeting Resolutions - The company's board of directors held a meeting on October 24, 2025, where the third-quarter report was unanimously approved [9][12] - The supervisory board also convened on the same day and approved the report, confirming compliance with legal and regulatory requirements [12][9] Regulatory Compliance - The company has received an inquiry letter from the Shanghai Stock Exchange regarding the asset purchase and fundraising, requiring a written response within a specified timeframe [15][16] - The company has applied for an extension to respond to the inquiry, indicating the complexity of the matters involved [17]