Market Overview - The Shanghai Composite Index rose by 0.37% on August 29, with 17 industries experiencing gains, led by the comprehensive and electrical equipment sectors, which increased by 3.86% and 3.12% respectively [1] - The industries with the largest declines were household appliances and transportation, which fell by 1.82% and 1.69% respectively [1] Capital Flow Analysis - The net outflow of capital from the two markets was 69.47 billion yuan, with 7 industries seeing net inflows [1] - The electrical equipment sector had the highest net inflow of capital, amounting to 3.12% increase and a net inflow of 3.13 billion yuan [1] - The food and beverage sector also saw a positive performance with a 2.42% increase and a net inflow of 1.63 billion yuan [1] - A total of 24 industries experienced net capital outflows, with the computer sector leading with a net outflow of 17.30 billion yuan, followed by the electronics sector with 13.11 billion yuan [1] Comprehensive Sector Performance - The comprehensive sector increased by 3.86% with a net inflow of 162 million yuan, comprising 16 stocks, of which 6 rose and 1 hit the daily limit [2] - The top stocks in terms of net capital inflow within the comprehensive sector included Dongyangguang with 173 million yuan, followed by Yuegui Co. and Zhangzhou Development with 42.66 million yuan and 38.25 million yuan respectively [2] - The stocks with the largest net outflows included Zongyi Co., Nanjing Xinbai, and Taida Co., with outflows of 37.67 million yuan, 23.86 million yuan, and 14.37 million yuan respectively [2] Comprehensive Sector Capital Flow Ranking - The top stocks in the comprehensive sector based on today's performance and capital flow are as follows: - Dongyangguang: +9.99%, 35.9% turnover, 172.82 million yuan inflow - Yuegui Co.: +4.07%, 13.45% turnover, 42.66 million yuan inflow - Zhangzhou Development: +1.85%, 5.89% turnover, 38.25 million yuan inflow - Zhejiang Agricultural Co.: +3.93%, 4.33% turnover, 15.68 million yuan inflow - Sanmu Group: -1.77%, 3.71% turnover, 4.32 million yuan outflow [2]

Market Overview - On August 28, the comprehensive sector rose by 0.92% compared to the previous trading day, with Dongyangguang leading the gains [1] - The Shanghai Composite Index closed at 3843.6, up 1.14%, while the Shenzhen Component Index closed at 12571.37, up 2.25% [1] Stock Performance - Dongyangguang (600673) closed at 20.43, with a gain of 2.61% and a trading volume of 791,200 shares, amounting to a transaction value of 1.59 billion [1] - Yatai Group (600881) closed at 2.07, up 1.47%, with a trading volume of 1,560,300 shares and a transaction value of 320 million [1] - Zongyi Co. (600770) closed at 6.26, up 1.46%, with a trading volume of 833,300 shares and a transaction value of 520 million [1] - Other notable stocks include Te Li A (000025) at 17.64 (+0.40%), and Hongmian Co. (000523) at 3.29 (+0.30%) [1] Capital Flow - The comprehensive sector experienced a net outflow of 364 million from institutional funds, while retail funds saw a net inflow of 209 million [2] - The net inflow from speculative funds was 155 million [2] Individual Stock Capital Flow - Yatai Group saw a net inflow of 24.71 million from institutional funds, while it experienced a net outflow of 22.78 million from speculative funds [3] - Hongmian Co. had a net inflow of 2.50 million from institutional funds and a net inflow of 3.64 million from speculative funds [3] - Shanghai Sanmao (600689) experienced a net outflow of 4.56 million from institutional funds, but a net inflow of 1.68 million from retail investors [3]

Core Insights - The company reported a significant increase in total revenue and net profit for the first half of 2025, with total revenue reaching 213 million yuan, up 40.82% year-on-year, and net profit attributable to shareholders at 19.89 million yuan, up 203.09% year-on-year [1][2]. Financial Performance - Total revenue for the second quarter of 2025 was 111 million yuan, reflecting a year-on-year increase of 26.62% [1]. - The net profit for the second quarter was 26.39 million yuan, showing a year-on-year increase of 14.65% [1]. - The gross profit margin decreased to 22.99%, down 18.92% year-on-year, while the net profit margin improved to 13.39%, up 151.23% year-on-year [1]. - Total expenses (selling, administrative, and financial) amounted to 72.19 million yuan, accounting for 33.87% of revenue, a decrease of 22.55% year-on-year [1]. - Earnings per share increased to 0.02 yuan, a 300% increase year-on-year, while operating cash flow per share dropped to 0.0 yuan, down 90.45% year-on-year [1]. Accounts Receivable and Profitability - Accounts receivable increased to 184 million yuan, up 24.78% year-on-year, with accounts receivable representing 608.7% of the net profit [1][3]. - The company’s return on invested capital (ROIC) was reported at 0.13%, indicating weak capital returns historically, with a median ROIC of 1.32% over the past decade [3]. Cash Flow and Investment Activities - Operating cash flow decreased significantly by 90.45% due to increased cash payments for goods by subsidiaries [2]. - Investment cash flow increased by 126.41%, attributed to reduced cash outflows for financial products in the previous period [2]. - Financing cash flow increased by 43.96%, due to the repayment of bank loans in the previous period [2]. Subsidiary Performance - The increase in revenue was partly due to the consolidation of the subsidiary Jiangsu Xinjuhuan Environmental Protection, which contributed additional revenue [1][2]. - The subsidiary Jiangsu Gaotou turned a profit compared to the previous period, contributing positively to the overall net profit [2][3].

Core Viewpoint - The report from Jiangsu Century Tongren Law Firm provides a special verification opinion regarding insider trading related to Jiangsu Zongyi Co., Ltd.'s major asset acquisition, confirming that the trading activities of insiders during the self-examination period do not constitute insider trading and will not pose substantial legal obstacles to the transaction [1][7]. Group 1: Insider Information and Trading - The scope of the insider information verification includes key personnel and related insiders involved in the transaction [5]. - The self-examination period for trading activities is defined as six months prior to the initial disclosure of the transaction, specifically from November 13, 2024, to August 11, 2025 [5]. - The report details the trading activities of specific individuals, including their cumulative buy and sell volumes of Jiangsu Zongyi shares during the self-examination period [5][6]. Group 2: Commitments from Insiders - Insiders involved in the trading activities have provided written commitments asserting that they did not disclose insider information to their relatives and that their trading decisions were based on personal judgment of the market [6]. - Specific commitments from individuals such as Shen Weiwei and his family members emphasize that their trading actions were independent and not influenced by insider information [6][7]. Group 3: Verification and Conclusion - The law firm conducted a thorough verification based on provided documents and commitments, concluding that the trading activities of the identified insiders do not constitute insider trading [7]. - The law firm asserts that the self-examination reports and commitments from the involved parties are true, accurate, and complete, supporting the conclusion that there are no substantial legal barriers to the transaction [7].

兴业证券股份有限公司 关于江苏综艺股份有限公司本次交易 相关内幕信息知情人买卖股票情况的自查报告的核查意见 江苏综艺股份有限公司（以下简称"江苏综艺"、"上市公司"或"公 司"）拟通过现金增资及表决权委托方式取得江苏吉莱微电子股份有限公司（以 下简称"标的公司"）控制权（以下简称"本次交易"）。 根据《上市公司重大资产重组管理办法》《公开发行证券的公司信息披露内 容与格式准则第26号——上市公司重大资产重组》《上海证券交易所上市公司自 律监管指引第6号——重大资产重组》《上市公司监管指引第5号——上市公司内 幕信息知情人登记管理制度》及《监管规则适用指引——上市类第1号》等法律 法规和规范性文件的规定，兴业证券股份有限公司（以下简称"兴业证券"或"独 立财务顾问"）作为本次交易的独立财务顾问，对本次交易相关内幕信息知情人 买卖股票情况进行了核查，具体情况如下： 一、本次交易的内幕知情人买卖股票情况自查期间 本次自查期间为自本次交易首次公告日前六个月至《江苏综艺股份有限公司 重大资产购买报告书（草案）》披露之前一日止，即2024年11月13日至2025年8 月11日（以下简称"自查期间"）。 二、本次交易的内幕 ...

Meeting Information - The first extraordinary general meeting of shareholders for 2025 will be held on September 12, 2025 [1] - The meeting will utilize the Shanghai Stock Exchange's online voting system for shareholder voting [1] - The meeting will take place at 9:00 AM at Zongyi Digital City, Tongzhou District, Nantong City, Jiangsu Province [1] Voting Procedures - Shareholders can vote through both on-site and online methods, with specific time slots for online voting [2][3] - The voting period for the online system is from 9:15 AM to 3:00 PM on the day of the meeting [1][2] - Shareholders holding multiple accounts can aggregate their voting rights across all accounts [3] Agenda Items - The meeting will review several proposals, including amendments to the articles of association and other significant matters [2] - All proposals have been approved in previous board meetings and are detailed in prior announcements [2] Attendance Requirements - Shareholders registered by the close of business on September 5, 2025, are eligible to attend [4] - Both natural and legal persons can attend, with specific documentation required for registration [4] Contact Information - For inquiries, shareholders can contact Gu Zhengwei or Xing Yumei at the provided phone numbers and email [5]

兴业证券股份有限公司 关于 江苏综艺股份有限公司 重大资产购买 之 独立财务顾问报告 （修订稿） 独立财务顾问 二零二五年八月 兴业证券股份有限公司 独立财务顾问报告 声明与承诺 兴业证券股份有限公司接受江苏综艺股份有限公司委托，担任江苏综艺股 份有限公司本次重大资产购买之独立财务顾问，并制作本独立财务顾问报告。 本独立财务顾问报告系依据《公司法》《证券法》《重组管理办法》《公开发 行证券的公司信息披露内容与格式准则第 26 号——上市公司重大资产重组》 《上市公司并购重组财务顾问业务管理办法》《上海证券交易所股票上市规则》 等有关法律、法规的要求，根据重组报告书及交易对方提供的有关资料和承诺 制作。 独立财务顾问按照证券行业公认的业务标准、道德规范，本着诚实守信、 勤勉尽责的态度，就本次交易认真履行尽职调查义务，对上市公司相关的披露 文件进行审慎核查，向综艺股份全体股东出具本独立财务顾问报告，并做出如 下声明与承诺。 一、独立财务顾问声明 本独立财务顾问声明如下： （一）本独立财务顾问与上市公司及交易各方无其它利益关系，就本次交 易发表的有关意见是完全独立进行的； （二）本独立财务顾问报告所依据的文件和材料 ...

兴业证券股份有限公司 本次自查期间为自本次交易首次公告日前六个月至《江苏综艺股份有限公司 重大资产购买报告书（草案）》披露之前一日止，即2024年11月13日至2025年8 月11日（以下简称"自查期间"）。 二、本次交易的内幕知情人核查范围 本次交易相关主体的核查范围包括： 根据《上市公司重大资产重组管理办法》《公开发行证券的公司信息披露内 容与格式准则第26号——上市公司重大资产重组》《上海证券交易所上市公司自 律监管指引第6号——重大资产重组》《上市公司监管指引第5号——上市公司内 幕信息知情人登记管理制度》及《监管规则适用指引——上市类第1号》等法律 法规和规范性文件的规定，兴业证券股份有限公司（以下简称"兴业证券"或"独 立财务顾问"）作为本次交易的独立财务顾问，对本次交易相关内幕信息知情人 买卖股票情况进行了核查，具体情况如下： 一、本次交易的内幕知情人买卖股票情况自查期间 关于江苏综艺股份有限公司本次交易 相关内幕信息知情人买卖股票情况的自查报告的核查意见 江苏综艺股份有限公司（以下简称"江苏综艺"、"上市公司"或"公 司"）拟通过现金增资及表决权委托方式取得江苏吉莱微电子股份有限公司（以 下简 ...

江苏世纪同仁律师事务所 关于江苏综艺股份有限公司本次交易 相关内幕信息知情人买卖股票情况的自查报告之 专项核查意见 南 京 市建 邺区 贤坤 路江 岛智 立方 C 座 4 层 邮编 ：210019 电话：+ 8 6 2 5 - 83304480 传真：+ 8 6 2 5 - 83329335 江苏世纪同仁律师事务所 关于江苏综艺股份有限公司本次交易 相关内幕信息知情人买卖股票情况的自查报告之 专项核查意见 致：江苏综艺股份有限公司 江苏世纪同仁律师事务所（以下简称"本所"）接受江苏综艺股份有限公 司（以下简称"上市公司"、"综艺股份"）的委托，并根据上市公司与本所 签订的《法律顾问合同》，担任综艺股份重大资产购买事项（以下简称"本次 交易"、"本次重组"）的特聘法律顾问，就综艺股份本次交易相关内幕信息 知情人买卖股票情况进行了核查，并出具本专项核查意见。 本专项核查意见系根据《中华人民共和国公司法》《中华人民共和国证券 法》《上市公司重大资产重组管理办法》《公开发行证券的公司信息披露内容 与格式准则第 26 号——上市公司重大资产重组》《监管规则适用指引——上市 类第 1 号》等有关法律、法规规定出具。 声明 ...

股票代码：600770 股票简称：综艺股份 上市地点：上海证券交易所 江苏综艺股份有限公司 重大资产购买报告书（草案）摘要（修订稿） | 相关事项 | 交易对方名称 | | --- | --- | | 支付现金购买资产 | 江苏吉莱微电子股份有限公司 | 独立财务顾问 二零二五年八月 1-1-2 江苏综艺股份有限公司 重大资产购买报告书（草案）摘要 上市公司声明 本公司及全体董事、高级管理人员保证报告书及其摘要内容的真实、准确、 完整，不存在虚假记载、误导性陈述或重大遗漏，并对本次交易报告书及其摘 要内容的真实性、准确性和完整性承担个别和连带的法律责任。 本公司控股股东、实际控制人、全体董事、高级管理人员承诺：如本次交 易所披露或提供的信息涉嫌虚假记载、误导性陈述或者重大遗漏，被司法机关 立案侦查或被中国证监会立案调查的，在形成调查结论之前，不转让在上市公 司拥有权益的股份，并于收到立案稽查通知的两个交易日内将暂停转让的书面 申请和股票账户提交上市公司董事会，由董事会代为向证券交易所和证券登记 结算机构申请锁定；未在两个交易日内提交锁定申请的，授权董事会核实后直 接向证券交易所和证券登记结算机构报送本公司/本 ...