风范股份表示，公司收到《问询函》后高度重视，立即组织相关人员对《问询函》中所涉及的问题进行 认真研究、讨论并逐项核查，积极推进回复工作。过程中，公司与交易对方积极磋商和慎重探讨，并结 合内部、外部及各方意见，与交易各方达成一致后认为目前实施本次交易的条件尚未完全成熟，拟决定 终止本次交易。 北京商报讯（记者 王蔓蕾）筹划不足一周时间，风范股份（601700）并购事项或将宣告折戟。1月30日 晚间，风范股份披露公告称，拟终止收购北京炎凌嘉业智能科技股份有限公司（以下简称"炎凌嘉业"） 51%股权。 此前，风范股份于1月26日晚间披露公告称，公司拟使用自有及自筹资金3.83亿元收购防爆自动化装 备、重载机械装备企业炎凌嘉业51%的股权。针对此次交易，上交所于当日晚间"火速"下发《问询 函》。《问询函》中，上交所就本次交易目的、标的公司业绩承诺及财务状况、标的公司估值情况、付 款安排及交易对方等四方面问题作出问询，要求风范股份补充披露本次交易新增标的公司业务与原主业 的关系，结合上市公司目前的主业经营情况、未来发展战略等，说明在公司业绩亏损的情况下仍进行跨 界收购的主要原因和考虑；说明标的公司的行业地位和竞争优劣势 ...

证券日报网讯1月30日，风范股份（601700）在互动平台回答投资者提问时表示，转型升级是公司管理 层一直关心的话题。 ...

炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 文|新浪财经上海站 十里 1月30日下午，风范股份（601700.SH）披露，拟终止此前计划以3.83亿元现金收购北京炎凌嘉业智能科 技股份有限公司51%股权的交易。 自1月26日披露收购预案、当天便收到上交所问询函起算，这笔交易从亮相到按下终止键，前后仅4天。 原本被寄予新赛道想象的资产注入，最终止步于监管追问之下。这场戛然而止的并购，发生在公司控制 权完成加固之后不久，也迅速被市场放入更长的时间轴中审视。 1月26日，风范股份披露拟以自有及自筹资金3.83亿元，收购北京炎凌嘉业智能科技股份有限公司51% 股权，对应整体估值约7.5亿元。 监管关注的第一重背景，是业绩压力。在披露收购预案前，风范股份刚发布2025年年度业绩预亏公告， 预计2025年归母净利润亏损3.2亿元至3.8亿元，同比亏损幅度扩大超过四倍。亏损的主要来源，来自此 前光伏业务形成的商誉减值，计提金额约3.4亿元。 公告披露当日，上海证券交易所问询函落地。 在连续亏损、现金流承压的情况下，上市公司仍推进一笔3.83亿元的全现金跨界并购，其交易动机与必 要性被置于聚光灯 ...

二、终止本次交易的原因 自公告本次交易事项以来，公司及交易各方严格按照相关法律法规的要求， 积极推动本次交易相关的各项工作；同时，公司收到《问询函》后高度重视，立 即组织相关人员对《问询函》中所涉及的问题进行认真研究、讨论并逐项核查， 积极推进回复工作。过程中，公司与交易对方积极磋商和慎重探讨，并结合内部、 外部及各方意见，与交易各方达成一致后认为目前实施本次交易的条件尚未完全 成熟，拟决定终止本次交易。 三、终止本次交易的决策程序 证券代码：601700 证券简称：风范股份 公告编号：2026-016 常熟风范电力设备股份有限公司 关于拟终止收购北京炎凌嘉业智能科技股份有限公 司51%股权的提示性公告 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： 本次交易终止事项尚需提交常熟风范电力设备股份有限公司（以下简称 "公司"）董事会进行审议，且尚需与交易对方协商签署终止本次收购的 相关协议。如公司最终单方终止本次交易且交易各方未就终止协议的具 体条款达成一致意见，公司存在由此承担相关违约责任的法律风险。敬 请注意 ...

Core Viewpoint - The A-share merger and acquisition (M&A) market remains active in early 2026, with over 297 disclosed M&A transactions, including 12 major asset restructurings as of January 28, 2026 [1]. Group 1: M&A Activity - Strategic emerging industries, particularly in semiconductors and artificial intelligence, are the core areas for listed companies' M&A activities [2]. - In January 2026 alone, several companies, including Yingxin Development, Kangxin New Materials, and Dinglong Co., announced plans for cross-industry mergers, indicating a trend of traditional manufacturing companies transitioning towards high-tech sectors [2][4]. - Notably, there have been at least eight disclosed cross-industry M&A cases this year, with four targeting semiconductor assets [4]. Group 2: Regulatory Scrutiny - Regulatory bodies have heightened scrutiny over cross-industry mergers, focusing on the authenticity of disclosures and the reasonableness of valuations [2][10]. - Companies like Kangxin New Materials and Fengfan Co. have received inquiry letters from regulators regarding their cross-industry M&A plans, highlighting concerns over speculative practices and high-risk transactions [2][10]. - The Shanghai Stock Exchange has raised questions about the feasibility of performance commitments made by companies involved in these transactions, particularly when historical performance has been poor [11][12]. Group 3: Financial Performance and Challenges - Many companies pursuing cross-industry mergers are facing challenges in their core business operations, with some reporting continuous losses [7][8]. - For instance, Yingxin Development and Han Jian Heshan have been struggling with profitability, prompting them to seek new growth avenues through M&A [7][8]. - The financial data of targeted companies, such as YB Semiconductor, shows significant projected losses, raising concerns about the viability of these acquisitions [4][11].

Core Viewpoint - Wind范股份 announced a plan to acquire 51% of Beijing Yanling Jiaye Intelligent Technology Co., Ltd. for 383 million yuan, with an overall valuation of approximately 750 million yuan, amidst regulatory inquiries regarding the transaction's motivations and implications [1][12]. Group 1: Transaction Details - The acquisition is part of a broader timeline where Tangshan State-owned Assets acquired a 12.67% stake in Wind范股份 for approximately 742 million yuan, followed by a further acquisition of 17.32% for about 989 million yuan, solidifying control over the company [13][16]. - The transaction is notable for its cash nature, with Wind范股份 planning to pay the entire amount shortly after the deal's effectiveness, raising concerns about the timing and risk associated with the payment structure [21][22]. Group 2: Financial Performance and Projections - Prior to the acquisition announcement, Wind范股份 projected a net loss of 320 million to 380 million yuan for 2025, primarily due to goodwill impairment in its solar business, indicating significant financial distress [4][16]. - Yanling Jiaye's financials show a net profit of only 3.28 million yuan in 2024 and 9.64 million yuan in the first three quarters of 2025, with ambitious profit commitments of 40 million, 60 million, and 80 million yuan for the years 2026 to 2028, totaling 180 million yuan [20][10]. Group 3: Regulatory Concerns - The regulatory body has raised questions regarding the rationale behind pursuing the acquisition despite the company's financial losses and the lack of a clear industrial synergy between Wind范股份 and Yanling Jiaye, which operates in different sectors [6][17]. - The steep growth expectations for Yanling Jiaye's profits have prompted the exchange to request justifications based on industry comparisons and existing orders, highlighting the challenges in achieving such targets [10][18].

一周前刚发布去年业绩预亏公告，风范股份（601700.SH）就推出了一起约3.83亿元的收购。 跨界收购系集团战略考量 风范股份于2011年在上交所挂牌上市，主营业务涉及电力铁塔及钢结构制造，同时布局光伏相关业务。 本次拟收购的炎凌嘉业，则主要从事防爆自动化控制系统及相关装备的研发与生产，产品主要应用于石 化、化工等高危工业场景。 在公司业绩亏损背景下，市场及监管层同时提出质疑：风范股份为何选择在此时推进跨界收购？上市公 司与标的公司之间是否具备实际业务协同基础？ 上交所在问询函中提到，风范股份与标的公司主营业务存在较大差异，不属于同行业或上下游，无明显 协同效应，且公司无相关行业经验、技术积累。要求公司说明在业绩亏损的情况下仍进行跨界收购的主 要原因和考虑、对标的公司是否具备业务整合和管控能力，并充分提示风险。 对此，公司内部人士告诉时代周报记者，此举源于控股股东的整体布局。"推进跨界收购，是风范股份 控股股东唐山工业控股集团有限公司（以下简称'唐山工控'）从集团战略角度作出的考量。" 1月26日晚间，风范股份公告称，公司拟使用约3.83亿元自有及自筹资金收购防爆自动化装备、重载机 械装备企业北京炎凌嘉业智 ...

披露2025年年度业绩预亏公告一周后，风范股份（601700）(SH601700，股价6.10元，市值69.68亿元)一份高达3.825亿元的现金收购公 告横空出世。 1月26日晚间，风范股份宣布拟以溢价约249.77%的高估值，收购北京炎凌嘉业智能科技股份有限公司(以下简称炎凌嘉业)51%的股 权，试图从传统的电力铁塔制造跨界切入防爆自动化装备领域。 每经媒资库图 这场资本运作迅速引来监管层关注。在收购公告发布的同一天，上交所下发问询函，问询内容针针见血，指出了标的资产估值过高、 业绩承诺与历史数据严重背离、上市公司自身资金压力及跨界整合难度等核心痛点。 《每日经济新闻》记者注意到，风范股份所面临的，一面是光伏业务亏损导致的巨额商誉减值，另一面是由于缺乏明显协同效应而被 质疑的"豪赌式"并购。这家公司究竟是在通过产业升级寻找新的利润增长点，还是在为资本市场讲述一个难以兑现的故事？这场跨界 并购背后，隐藏着怎样的风险与博弈？ 公司急寻"第二曲线" 风范股份的2025年业绩可能颇为惨淡。 根据公司发布的业绩预亏公告，经初步测算，公司2025年实现归母净利润预计为-3.8亿元到-3.2亿元，亏损同比大幅增加。 造 ...

1月26日晚间，传统电力铁塔龙头风范股份(601700)发布公告，拟以自有及自筹资金收购北京炎凌嘉业 智能科技股份有限公司51%股权，正式进军防爆、重载机器人与高端智能装备领域。交易完成后，炎凌 嘉业将成为风范股份控股子公司，纳入合并报表范围。 本次收购正值公司控股股东唐山工业控股集团有限公司（下称"唐控发展集团"）完成对上市公司控制权 巩固之际。2025年12月，唐控发展集团通过进一步增持，累计持股比例达29.99%，稳居第一大股东。 此次收购虽以风范股份为主体推进，实则背后是其国资控股股东唐控发展集团整体产业布局的关键一 步，旨在优化国资结构、提升资产价值。 作为国内输电线路铁塔龙头企业，A股老牌上市公司风范股份也是国内少数能生产最高电压等级1100kV 输电线路铁塔的公司之一，具备深厚的工业基础与制造属性。唐控发展集团的战略意图十分明确：依托 这一基础，将风范股份打造为承载智能装备、工业机器人等先进制造业务的平台，深度契合唐山 市"4+4+N"现代化产业体系中对精品钢铁、新能源、高端装备等产业链的升级要求。收购炎凌嘉业，正 是激活这一战略定位的关键一步。 "风范股份具备扎实的制造基础和产业经验，此次收购 ...

Group 1 - Company Sanwei Communication announced a partnership to establish a private equity fund with a total investment of 114 million yuan, with the company contributing 25 million yuan, focusing on high-tech industries such as smart manufacturing and new energy [1] - Zijin Mining plans to acquire 100% of Allied Gold Corporation for approximately 280 billion yuan, with core assets including gold mines in Mali and Ivory Coast, and an expected increase in gold production to 25 tons by 2029 [2] - Haike New Source signed a long-term cooperation agreement with BYD Lithium Battery to supply at least 100,000 tons of solvents annually for three years [3] Group 2 - China Aluminum International reported a new contract total of 468.36 billion yuan for 2025, a year-on-year increase of 51.94%, with significant growth in industrial and overseas contracts [4] - Jianxin Co. expects a net loss of 20 to 29 million yuan for 2025, compared to a profit of 19.37 million yuan in the previous year [5] - ST Dongjing anticipates a loss of 40 to 60 million yuan for 2025, an improvement from a loss of 73.45 million yuan in the previous year [6] Group 3 - Zhejiang Haideman plans to raise up to 1.517 billion yuan through a private placement for high-end machine tool projects [7] - Anlu Technology intends to raise up to 1.262 billion yuan for FPGA chip development projects [8][9] - AVIC Chengfei expects a net profit increase of 5.47% to 11.67% for 2025, projecting profits between 3.4 billion and 3.6 billion yuan [10] Group 4 - Hengtong Technology forecasts a net profit increase of 82.95% to 110.05% for 2025, with expected profits between 270 million and 310 million yuan [11] - Qingmu Technology anticipates a net profit increase of 30% to 50% for 2025, projecting profits between 118 million and 136 million yuan [13] - Zhongke Microelectronics expects a loss of 18 to 25 million yuan for 2025, marking a shift from profit to loss [14] Group 5 - Huashan Electric predicts a loss of 42 to 49.2 million yuan for 2025, compared to a loss of 26.77 million yuan in the previous year [15] - Qitian Technology expects a loss of 60 to 95 million yuan for 2025, an improvement from a loss of 214 million yuan in the previous year [16] - Sanyuan Gene announced a plan to reduce its shareholding by up to 2% [17] Group 6 - Zhongxing Junye forecasts a net profit increase of 134.32% to 173.37% for 2025, with expected profits between 300 million and 350 million yuan [18] - Shengshi Technology anticipates a net profit decrease of 50.26% to 64.55% for 2025, projecting profits between 62 million and 87 million yuan [19] - Lante Optical expects a net profit increase of 70.04% to 81.38% for 2025, with projected profits between 375 million and 400 million yuan [20] Group 7 - Dongfang Risen anticipates a loss of 2.3 to 2.9 billion yuan for 2025, compared to a loss of 3.436 billion yuan in the previous year [21] - Wandong Medical announced a change in leadership, electing Wang Jianguo as the new chairman [22] - Longsoft Technology expects a loss of 49 to 60 million yuan for 2025, with projected revenues between 148 million and 164 million yuan [23] Group 8 - Zongyi Co. forecasts a net profit increase of approximately 264.05% for 2025, with expected revenues of around 480 million yuan [24] - Sifang New Materials anticipates a loss of around 300 million yuan for 2025, with projected revenues of about 1 billion yuan [25] - Jiuding New Materials plans to acquire 100% of Jiuding New Energy for 39.51 million yuan [26] Group 9 - Kangyuan Pharmaceutical received approval for clinical trials of a new drug aimed at treating children's ailments [27] - Kaipu Testing announced plans for share reductions by its chairman and vice president [28] - Fengfan Co. intends to acquire 51% of Yanling Jiaye for 382.5 million yuan, with performance commitments for the next three years [29][30] Group 10 - Axin Security received a government subsidy of 6.8 million yuan [31] - Ge Microelectronics announced plans for a share reduction by a major shareholder [32] - ST Yingfit expects a loss of 24 to 31 million yuan for 2025, a reduction from a loss of 40.4 million yuan in the previous year [33] Group 11 - Fujilai forecasts a net profit increase of 282.17% to 296.8% for 2025, with expected profits between 62.7 million and 65.1 million yuan [34] - Huakong Saige anticipates a loss of 97 to 120 million yuan for 2025, a shift from a profit of 17.03 million yuan in the previous year [35] - Landun Optical expects a loss of 70 to 95 million yuan for 2025, compared to a profit of 6.49 million yuan in the previous year [36] Group 12 - ST Zhongji forecasts a loss of 35 to 55 million yuan for 2025, compared to a loss of 231 million yuan in the previous year [37] - Zhongsheng Pharmaceutical expects a profit of 260 to 310 million yuan for 2025, reversing a loss of 299 million yuan in the previous year [38] - Youkeshu reported a net loss of 13.85 million yuan for the first three quarters of 2025 [39] Group 13 - Haosheng Electronics anticipates a net profit decrease of 56.85% to 59.77% for 2025, projecting profits between 69 million and 74 million yuan [40] - Xiangyuan Cultural Tourism plans to withdraw from a low-altitude economic investment fund [41] - Guoen Co. has set a preliminary price range of 34 to 42 HKD for its H-share issuance [42]