Group 1 - The company has acquired a 41.69% stake in Ordos Jingtou Yintai Real Estate Development Co., Ltd., which has become a subsidiary included in the company's consolidated financial statements [1][2] - The acquisition was approved during the 19th meeting of the 12th Board of Directors held on December 2, 2025, and the relevant agreements were signed with Ordos Dazhong Real Estate Development Co., Ltd. [1] - The company has completed the industrial and commercial registration procedures for the equity transfer of Ordos Company [2] Group 2 - The company has also acquired a 45% stake and certain debts of Shanghai Lishi Hotel Co., Ltd., which has become a wholly-owned subsidiary included in the company's consolidated financial statements [3][4] - This acquisition was also approved during the same Board of Directors meeting on December 2, 2025, with agreements signed with Trillion Full Investments Limited and Shanghai Lishi Hotel Co., Ltd. [3] - The industrial and commercial registration procedures for the equity transfer of Shanghai Lishi have been completed, and a new business license has been issued [4][5]

Group 1 - The company announced the acquisition of a 41.69% stake in Ordos Jingtou Yintai Real Estate Development Co., Ltd. [1] - The board meeting to approve the acquisition is scheduled for December 2, 2025 [1] - The acquisition has been formalized through a share transfer agreement, and Ordos company has become a subsidiary of the company, included in the consolidated financial statements [1]

证券代码：600683 证券简称：京投发展 公告编号：临2025-089 京投发展股份有限公司 近日，鄂尔多斯公司完成了上述股权转让的工商变更登记手续，变更后的股 权情况如下： | 序 号 | 股东名称 | 注册资本（万元） | 持股比例 | | --- | --- | --- | --- | | 1 | 京投发展股份有限公司 | 2,720.70 | 90.69% | | 2 | 鄂尔多斯市大中房地产开发有限责任公司 | 279.30 | 9.31% | 特此公告。 京投发展股份有限公司董事会 1 2025 年 12 月 15 日 2 关于收购鄂尔多斯市京投银泰房地产开发有限责任 公司 41.69%股权的进展公告 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。 京投发展股份有限公司（以下简称"公司"）于 2025 年 12 月 2 日召开第十 二届董事会第十九次会议，审议通过了《关于收购鄂尔多斯市京投银泰房地产开 发有限责任公司 41.69%股权的议案》。内容详见公司于 2025 年 12 月 3 日刊登在 上海证券交易所网 ...

京投发展股份有限公司 关于收购上海礼仕酒店有限公司 45%股权及部分债权 的进展公告 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。 京投发展股份有限公司（以下简称"公司"）于 2025 年 12 月 2 日召开第十 二届董事会第十九次会议，审议通过了《关于收购上海礼仕酒店有限公司 45%股 权及部分债权的议案》。内容详见公司于 2025 年 12 月 3 日刊登在上海证券交易 所网站（www.sse.com.cn）、《中国证券报》《上海证券报》《证券时报》《证券日 报》上的《京投发展股份有限公司关于收购上海礼仕酒店有限公司 45%股权及部 分债权的公告》（临 2025-083）。 截至本公告披露日，公司已与 Trillion Full Investments Limited、复地 （集团）股份有限公司及上海礼仕酒店有限公司（以下简称"上海礼仕"）签署 了《股权及债权一揽子转让协议》，上海礼仕已成为公司全资子公司，纳入公司 合并报表范围。 近日，上海礼仕完成了上述股权转让的工商变更登记手续，并取得上海市黄 浦区市场监督管理局换 ...

Market Performance - The land transfer concept declined by 1.40%, ranking among the top declines in concept sectors, with notable declines from companies such as Xinbang Pharmaceutical, Jingtou Development, and Yong'an Forestry [1] - Among the 11 stocks that increased, Zhengbang Technology, Xiamen Xiangyu, and Tongyi Co. saw gains of 3.48%, 2.02%, and 1.62% respectively [1] Concept Sector Performance - The top-performing concept sectors included Controlled Nuclear Fusion (+4.98%), Superconducting Concept (+3.37%), and Flexible DC Transmission (+3.28%) [1] - Conversely, the worst-performing sectors included Horse Racing Concept (-2.93%), Duty-Free Shops (-1.60%), and Land Transfer (-1.40%) [1] Capital Flow Analysis - The land transfer concept experienced a net outflow of 0.13 billion yuan, with 25 stocks seeing net outflows, and 8 stocks with outflows exceeding 10 million yuan [1] - The stock with the highest net outflow was China Wuyi, with a net outflow of 59.12 million yuan, followed by Intercontinental Oil and Gas and Xinbang Pharmaceutical with outflows of 57.35 million yuan and 34.13 million yuan respectively [1] Individual Stock Performance - China Wuyi saw a decline of 6.73% with a turnover rate of 12.59% and a net outflow of 59.12 million yuan [2] - Zhengbang Technology led in net inflow with 141.27 million yuan, while also increasing by 3.48% [2] - Other notable stocks with significant net inflows included Shennong Seed Industry and Fenglin Group, with inflows of 39.84 million yuan and 18.25 million yuan respectively [2]

Market Overview - The Shanghai Composite Index fell by 0.70% on December 11, with only one industry, banking, showing an increase of 0.17% [1] - The real estate sector ranked third in terms of decline, with a drop of 3.06% [2] - Overall, the main funds in the two markets experienced a net outflow of 744.67 billion yuan, with only the banking sector seeing a net inflow of 67.49 million yuan [1] Real Estate Sector Analysis - The real estate industry saw a net outflow of 2.10 billion yuan, with 100 stocks in the sector; only 6 stocks rose, and 94 stocks fell [2] - The top three stocks with the highest net inflow in the real estate sector were: - Xian Dao Ji Dian: 67.26 million yuan - Bin Jiang Group: 57.69 million yuan - Jing Tou Development: 27.04 million yuan [2] - The stocks with the largest net outflow included: - Vanke A: 446.18 million yuan - China Wuyi: 178.32 million yuan - Wan Tong Development: 166.71 million yuan [3] Fund Flow Insights - The electronic industry had the largest net outflow of funds, totaling 13.59 billion yuan, followed by the communication industry with a net outflow of 11.34 billion yuan [1] - A total of 30 industries experienced net outflows, indicating a broad trend of capital leaving the market [1]

二Ｏ二五年十二月十八日 1 京投发展股份有限公司 2025 年第七次临时股东会 （总第123 次） 京投发展股份有限公司 2025 年第七次临时股东会 会议资料 (总第 123 次)会议议程与议案表决办法 中国 北京 一、会议召集人：京投发展股份有限公司董事会 二、会议召开时间： （1）现场会议时间：2025年12月18日（星期四）下午14:00 （2）网络投票时间：采用上海证券交易所网络投票系统，通过交易系统投 票平台的投票时间为股东会召开当日的交易时间段，即9:15-9:25,9:30-11:30， 13:00-15:00；通过互联网投票平台的投票时间为股东会召开当日的9:15-15:00。 三、会议地点：北京市朝阳区建国门外大街2号银泰中心C座17层会议室 四、会议表决方式：会议采用现场投票和网络投票相结合的表决方式 五、会议审议事项： 1、关于向上海礼仕酒店有限公司提供财务资助的议案 2、关于向上海礼仕酒店有限公司提供财务资助展期的议案 3、关于向控股子公司提供财务资助的议案 六、表决办法： 1、现场投票表决办法 根据中国证监会《上市公司股东会规则》规定： （1）表决前由会议主持人宣布现场出席会议的股 ...

Group 1 - The core concept of the news is the launch of the "Jingtou Pai" brand by Beijing Urban Investment Underground Space Development Co., which aims to create a convenient commercial space in the Beijing subway, starting with the Sanyuanqiao Station on Line 12 [1] - The Sanyuanqiao Station project will feature approximately 10,000 square meters of space, housing over 30 shops, and is designed as a "city living room on the tracks" [1] - Major brands participating in this initiative include Baijiu Culture Restaurant, PartnersBrew Craft Bar, Elaine Ice Cream Cake, and various other food and beverage outlets [1] Group 2 - The Beijing Subway Line 12 runs through key areas in northern Beijing, connecting important functional, commercial, and residential zones [2] - The Sanyuanqiao Station is strategically located near the North Third Ring Road and the Airport Expressway, enhancing its connectivity and nearly doubling its passenger attraction capacity [2] - As a pilot station for integrated development, Sanyuanqiao will implement a five-in-one approach, focusing on transportation, functionality, landscape, land use, and municipal integration to improve the surrounding environment and transportation connections [2]

Group 1 - Xi'an Yicai plans to invest approximately 12.5 billion yuan in the Wuhan silicon material base project, focusing on producing silicon monocrystalline polished wafers and epitaxial wafers for advanced integrated circuits [1] - CATL has repurchased 15.99 million A-shares for a total expenditure of approximately 4.386 billion yuan, representing 0.36% of its total A-share capital [1][2] - Tianpu Co. has completed a stock suspension review after a 451.8% increase in stock price from August 22 to November 27, and its shares will resume trading [2] Group 2 - Jiangbolong plans to raise no more than 3.7 billion yuan through a private placement for high-end memory research and development projects [4] - Ashi Chuang intends to raise no more than 900 million yuan for semiconductor material projects and to supplement working capital [5] - Aike Co. plans to acquire 100% equity of Dongguan Qixiang for 2.2 billion yuan, focusing on products applicable in new energy battery and storage fields [6] Group 3 - Xiangyuan Cultural Tourism's subsidiary intends to acquire 100% equity of Jinxiu Lianhua Mountain for approximately 345 million yuan, which operates a national AAAA-level tourist attraction [7] - Zhongding Co. plans to issue convertible bonds totaling no more than 2.5 billion yuan for various projects including smart robots and new energy vehicle systems [9] - Jingtou Development intends to acquire 45% equity of Shanghai Lishi and related debts, aiming for full ownership of the company [10] Group 4 - Luoyang Molybdenum's subsidiary plans to invest 500 million yuan in a fund focusing on technology, healthcare, and consumer goods [11] - Transsion Holdings has submitted an application for H-share listing on the Hong Kong Stock Exchange [12] - ST Zhiyun's controlling shareholder is set to change, with a new entity gaining control over 18.61% of voting rights [13] Group 5 - Chongqing Construction's second-largest shareholder plans to transfer 12.95% of state-owned shares to other state-owned entities [14] - Longpan Technology's subsidiary signed a long-term procurement agreement to supply 106,800 tons of lithium iron phosphate materials, with a total contract value estimated between 4.5 billion to 5.5 billion yuan [15] - Junting Hotel's controlling shareholder will change to Hubei Cultural Tourism Group, with shares resuming trading [16] Group 6 - Hefei Guotou will become the controlling shareholder of Chuanan Technology after a private placement to raise no more than 1.419 billion yuan for various projects [18] - Xianglu Tungsten's shareholder plans to reduce holdings by up to 1.6 million shares, representing 0.49% of total shares [20] - Ankai Micro plans to acquire 85.79% of Siche Technology for 326 million yuan, focusing on AIoT chip design [20]

Core Viewpoint - 京投发展 announced two significant acquisitions, both priced at zero, involving companies with negative net assets and ongoing losses, raising industry attention [1][5]. Group 1: Acquisition Details - 京投发展 plans to acquire 41.69% equity in 鄂尔多斯市京投银泰房地产开发有限责任公司, increasing its ownership to 90.69%, making it a subsidiary [1][5]. - The net asset value of 鄂尔多斯公司 is assessed at -1.582 billion yuan, with total liabilities of approximately 2.12 billion yuan [5][6]. - For 2024 and the first eight months of 2025, 鄂尔多斯公司 reported net losses of 71.58 million yuan and 581 million yuan, respectively [5][6]. Group 2: Financial Performance - 京投发展 reported a revenue decline of 86.69% in 2024, with a net loss of 1.055 billion yuan, compared to a loss of 659 million yuan in the previous year [13]. - In the first three quarters of 2025, the company achieved a revenue of 555 million yuan, down 50.74%, with a net loss of 374 million yuan [14]. Group 3: Second Acquisition - 京投发展 intends to acquire 45% equity in 上海礼仕酒店有限公司 for zero yuan and plans to purchase related debts for 35 million yuan [7][11]. - The net asset value of 上海礼仕 is assessed at -1.71 billion yuan, with net losses of 103 million yuan and 59.33 million yuan for 2024 and the first eight months of 2025, respectively [11][12].