Core Viewpoint - The announcement of bankruptcy restructuring for SAIC Hongyan, a subsidiary of Dongfang Xinke, highlights the severe financial distress faced by the company and reflects broader challenges within the heavy truck industry in China [1][5]. Company Summary - SAIC Hongyan's creditor, Chongqing Anji Hongyan Logistics Co., Ltd., has applied for bankruptcy restructuring due to the company's inability to repay debts and its serious insolvency, despite having potential for restructuring [1]. - In 2024, SAIC Hongyan's sales plummeted to 5,511 heavy trucks, a staggering 39.37% decline year-on-year, which is less than the sales in a single quarter of 2021 [1]. - Dongfang Xinke reported a revenue of 6.467 billion yuan in 2024, a decrease of 25.50% year-on-year, and a net loss of 1.999 billion yuan, indicating a continuous decline in performance over three years [2]. - The company's cash flow remains under pressure, with a net cash flow from operating activities of -490 million yuan in the first quarter of 2025 [2]. - As of the first quarter of 2025, accounts receivable and notes receivable reached 1.934 billion yuan, with an increasing proportion of long-aged accounts receivable, posing significant operational challenges [2]. Industry Summary - The heavy truck market in China saw a total sales volume of 901,700 units in 2024, reflecting a slight decline of 1.03% year-on-year, amidst overcapacity and insufficient demand [2]. - Competitors are diversifying into the light truck segment, while SAIC Hongyan remains focused on heavy trucks, which may limit its market adaptability [2][3]. - The company is attempting product diversification by planning to launch new models and invest in hydrogen energy trucks, but these initiatives have yet to yield results [3]. - The restructuring efforts, including a debt restructuring plan involving 1.2 billion yuan with 120 dealers, have not alleviated the financial strain, leading to the current bankruptcy restructuring situation [3][5]. - The leadership change at Dongfang Xinke, with new executives experienced in the commercial vehicle sector, aims to navigate the company through its challenges, but the path to recovery remains uncertain [4][5].

Group 1 - Shida Shenghua expects a net loss of 52 million to 60 million yuan for the first half of 2025, a year-on-year decrease of 236.64% to 257.66% [1] - ST Zhizhi's vice president Wang Dong resigned for personal reasons, effective immediately upon delivery of the resignation to the board [1] - Haoyuan Pharmaceutical plans to increase capital by 400 million yuan to its wholly-owned subsidiary through a debt-to-equity swap, raising the registered capital from 400 million to 800 million yuan [1] Group 2 - Longxun Co. announced that shareholders and executives plan to reduce their holdings by up to 2% of the company's shares [2] - Aijian Group confirmed it has not engaged in any stablecoin-related business as of now [3] - Yanghe Co.'s chairman Zhang Liandong resigned due to work adjustments, effective immediately [5] Group 3 - Huanwei New Materials announced a stock suspension due to the major matter that may lead to a change in control [5] - Hualing Cable recently won contracts worth 456 million yuan in the power new energy sector, accounting for 10.97% of its audited revenue for 2024 [6] - Aerospace Changfeng plans to publicly transfer 55.45% of its stake in Aerospace Boke [6] Group 4 - Suzhou Planning is planning to acquire control of Dongjin Aerospace Technology, leading to a stock suspension for up to 10 trading days [6] - Yuexiu Capital intends to increase its stake in Yuexiu Real Estate using up to 204.22 million yuan through the Hong Kong Stock Connect [6] - Baichuan Co.'s actual controller and chairman Zheng Tiejiang is under investigation and has received a detention notice [7] Group 5 - XWANDA plans to issue H-shares and apply for listing on the Hong Kong Stock Exchange [8] - ST Aowei reported a loss of approximately 25.04 million yuan in inventory due to poor storage by a third party [8] - Yian Technology plans to increase capital by 120 million yuan to its subsidiary, raising its equity stake from 60% to 72.973% [9] Group 6 - Dongli New Science's wholly-owned subsidiary was applied for bankruptcy reorganization by creditors due to insolvency [11] - Bochuang Technology changed its name to Changxin Bochuang Technology, effective July 2, 2025 [14] - Huayang Co.'s controlling shareholder received a notice of administrative penalty from the China Securities Regulatory Commission [15] Group 7 - Hangzhou Thermal Power's shareholders plan to reduce their holdings by up to 4.09% of the company's shares [16] - Guoke Military Industry's two shareholders plan to reduce their holdings by up to 1.81% of the company's shares [17] - Pangu Intelligent's seven shareholders plan to reduce their holdings by up to 1% of the company's shares [19]

7月1日晚间，上海新动力汽车科技股份有限公司（简称"动力新科"）发布关于公司全资子公 司被申请重整的提示性公告。公告显示，动力新科全资子公司上汽红岩汽车有限公司的债权人 重庆安吉红岩物流有限公司（简称"重庆安吉物流"）以上汽红岩不能清偿到期债务且严重资不 抵债但仍具备重整价值及重整可行性为由，向重庆市第五中级人民法院（简称"重庆五中院"） 申请上汽红岩破产重整。 上汽红岩被申请重整的影响 上汽红岩为公司重要子公司及重卡业务生产经营平台，若重整得以成功实施，将有利于化解上 汽红岩债务、缓解公司经营压力。虽然目前申请人的破产重整申请已被法院立案，但上汽红岩 是否被裁定进入重整程序尚存在不确定性。即使法院裁定上汽红岩进入重整程序，也不代表上 汽红岩重整成功，上汽红岩能否成功重整存在不确定性。公司将及时披露有关事项的进展情 况，无论上汽红岩是否能进入重整程序，公司均将督促上汽红岩在现有基础上积极做好日常生 产经营管理工作。 动力新科表示，上汽红岩是否能进入重整程序不会对公司非重卡业务造成重大影响。 董事会意见 根据《中华人民共和国企业破产法》的相关规定，在债务人不能清偿到期债务且资产不足以清 偿全部债务，但具有重整价 ...

申请人：重庆安吉红岩物流有限公司 统一社会信用代码：9150011178420131X9 住所地：重庆市北部新区金山大道 665 号 法定代表人：沈飞 股票简称：动力新科 动力 B 股 股票代码：600841 900920 编号：临 2025-040 上海新动力汽车科技股份有限公司 关于公司全资子公司被申请重整的提示性公告 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： ? 本公司全资子公司上汽红岩汽车有限公司（以下简称"上汽红岩"）的债权人重庆 安吉红岩物流有限公司（以下简称"重庆安吉物流"）以上汽红岩不能清偿到期债务且严 重资不抵债但仍具备重整价值及重整可行性为由，向重庆市第五中级人民法院（以下简称 "重庆五中院"）申请上汽红岩破产重整。 一、债权人申请对公司全资子公司重整情况概述 汽红岩的债权人重庆安吉物流以上汽红岩不能清偿到期债务且严重资不抵债但仍具备重 整价值及重整可行性为由，向重庆五中院申请上汽红岩破产重整，重庆五中院于 2025 年 7 月 1 日立案（案号：（2025）渝 05 破申 436 号 ...

Group 1: Company Overview - The company, Dongli Xinke, primarily engages in the design, production, manufacturing, and sales of diesel engines and heavy-duty trucks [1] - Its wholly-owned subsidiary, SAIC Hongyan, focuses on the production and sales of heavy-duty trucks [1] Group 2: Financial Performance - In 2024, Dongli Xinke sold 145,800 diesel engines, a year-on-year decrease of 18.48%, while SAIC Hongyan's heavy-duty truck sales dropped by 39.37% to 5,511 units [2] - The company's total revenue for 2024 was 6.467 billion yuan, down 25.5% year-on-year, with a net loss attributable to shareholders of 1.999 billion yuan, an improvement from a loss of 2.463 billion yuan in the previous year [2] - The company reported difficulties in collecting accounts receivable, high debt levels, and an increase in debt-related litigation, with total liabilities significantly exceeding total assets [2] Group 3: Market Outlook - Despite current challenges, the company remains optimistic about its heavy-duty truck business, anticipating a potential market recovery in 2025 driven by macroeconomic policies and the implementation of the "dual carbon" strategy [3] - The domestic heavy-duty truck market is projected to see a slight decline of 1.03% in 2024, with competition expected to intensify due to high market saturation [3] - Major competitors in the heavy-duty truck sector include China National Heavy Duty Truck Group, FAW Jiefang, Dongfeng Motor Group, and Shaanxi Automobile Group [3] Group 4: Restructuring Efforts - SAIC Hongyan's creditors have applied for bankruptcy reorganization due to its inability to repay debts, although the court has yet to accept the application, leaving the outcome uncertain [1][3] - The company believes that a successful reorganization of SAIC Hongyan could alleviate debt pressures and improve operational stability [3] - Regardless of the reorganization outcome, the company will continue to manage its non-heavy-duty truck operations without significant impact [4]

股票简称：动力新科 动力 B 股 股票代码：600841 900920 编号：临 2025-040 上海新动力汽车科技股份有限公司 关于公司全资子公司被申请重整的提示性公告 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： 本公司全资子公司上汽红岩汽车有限公司（以下简称"上汽红岩"）的债权人重庆 安吉红岩物流有限公司（以下简称"重庆安吉物流"）以上汽红岩不能清偿到期债务且严 重资不抵债但仍具备重整价值及重整可行性为由，向重庆市第五中级人民法院（以下简称 "重庆五中院"）申请上汽红岩破产重整。 一、债权人申请对公司全资子公司重整情况概述 2025 年 7 月 1 日，本公司收到全资子公司上汽红岩转来的有关信息，公司获悉，上 汽红岩的债权人重庆安吉物流以上汽红岩不能清偿到期债务且严重资不抵债但仍具备重 整价值及重整可行性为由，向重庆五中院申请上汽红岩破产重整，重庆五中院于 2025 年 7 月 1 日立案（案号：（2025）渝 05 破申 436 号）。上汽红岩尚未收到债权人的有关告知函。 1、申请人基本情况 申请人 ...

智通财经7月1日电，动力新科(600841.SH)公告称，公司全资子公司上汽红岩的债权人重庆安吉物流向 重庆五中院申请上汽红岩破产重整。上汽红岩尚未收到债权人的有关告知函，重庆五中院已立案（案 号：（2025）渝05破申436号）。上汽红岩为公司重要子公司及重卡业务生产经营平台，若重整成功实 施，将有利于化解债务、缓解公司经营压力。但上汽红岩是否被裁定进入重整程序尚存在不确定性，即 使进入重整程序，也不代表重整成功。公司将及时披露有关事项的进展情况。 动力新科：全资子公司上汽红岩被申请重整 ...

Group 1 - The stock price of Dongli Xinke (600841) increased by 5.95% to 6.23 CNY as of June 27, 2025, from 5.88 CNY the previous week, with a peak price of 6.53 CNY on June 25 and a low of 5.79 CNY on June 23 [1] - Dongli Xinke's current total market capitalization is 8.646 billion CNY, ranking 65th out of 229 in the automotive parts sector and 1858th out of 5151 in the A-share market [1] - The company announced a net loss of 2.19 billion CNY for its wholly-owned subsidiary, SAIC Hongyan, for the fiscal year 2024 [1] Group 2 - The audit report issued by Deloitte for Dongli Xinke's 2024 financial statements included an emphasis of matter paragraph, indicating that the subsidiary SAIC Hongyan's total liabilities exceeded its total assets by 2.892 billion CNY and current liabilities exceeded current assets by 3.773 billion CNY [2] - SAIC Hongyan is also involved in multiple pending lawsuits, and several of its assets and bank accounts have been frozen [2] - The emphasis of matter does not affect the audit opinion already published, and the report was released in Shanghai on April 24, 2025 [2]

上海新动力汽车科技股份有限公司 2024 年度财务报告非标准审计意见的专项说明 2024 年 12 月 31 日止年度 Deloitte. 关于上海新动力汽车科技股份有限公司 2024年度财务报告非标准审计意见的专项说明 德师报(函)字(25)第 O00132 号 (第1页,共2页) 我们接受上海新动力汽车科技股份有限公司(以下简称"新动力科技")的委托,依据中国注册 会计师审计准则,对其 2024年度财务报表进行审计,并于 2025年 4 月 24 日出具了带有强调事项 段的无保留意见的审计报告(报告文号:德师报(审)字(25)第 P00568 号)。 根据中国证券监督管理委员会《公开发行证券的公司信息披露编报规则第 14 号 --- 非标准审 计意见及其涉及事项的处理》《监管规则适用指引 -- 审计类第 1 号》、《上海证券交易所股票上 市规则》及《上海证券交易所上市公司自律监管指南第2号 -- 业务办理(2024年5月修订》的 相关要求,我们就新动力科技上述财务报表出具的带有强调事项段的无保留意见专项说明如下: 一、合并财务报表整体的重要性水平 我们在审计中,依据《中国注册会计师审计准则第 1221 号 ...

股票简称：动力新科 动力 B 股 股票代码：600841 900920 编号：临 2025-039 上海新动力汽车科技股份有限公司 关于新增诉讼、仲裁及有关进展的公告 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。 本公司于 2024 年 8 月 2 日、8 月 15 日、8 月 21 日、8 月 28 日、10 月 10 日、11 月 1 日、12 月 3 日和 2025 年 1 月 4 日、2 月 8 日、3 月 6 日、4 月 4 日、5 月 10 日分别披露了 《关于诉讼情况的公告》（临 2024-042）、《关于上汽红岩部分募集资金被冻结的公告》（临 2024-044）、《关于上汽红岩募集资金被冻结的公告》（临 2024-045）、《关于上汽红岩诉讼 及部分资产被采取财产保全措施的进展公告》（临 2024-051）、《关于上汽红岩诉讼及部分 资产被采取财产保全措施的进展公告》（临 2024-058）、《关于新增诉讼、仲裁及有关进展 的公告》（临 2024-063）、《关于新增诉讼、仲裁及有关进展的公告》（临 2024 ...