New Stock Issuance - The new stock issuance for Balanshi is priced at 15.78 RMB per share, effective from August 19, 2025[1] - The offer period for Shenke Co., Ltd. (stock code: 002633) is from July 29, 2025, to August 27, 2025[1] - The offer period for Fushun Special Steel (stock code: 600399) is from August 12, 2025, to September 10, 2025[1] Corporate Actions - China Shipbuilding (stock code: 600150) is undergoing a merger and absorption process[1] - North Long Dragon (stock code: 301357) has announced significant corporate actions[1] - Changcheng Military Industry (stock code: 601606) has reported recent developments[1] Market Alerts - Dongxin Co., Ltd. (stock code: 688110) has experienced severe abnormal fluctuations in its stock price[1] - Sainuo Medical (stock code: 688108) is under scrutiny for unusual trading activity[1] - Nanya New Materials (stock code: 688519) has been flagged for market volatility[1]

Key Points - The article discusses various significant news and developments in different sectors, including finance, media, and technology [5][10]. Group 1: Financial Developments - The Shanghai Stock Exchange reported that from January 1 to August 17, 2025, 15 IPO companies raised a total of 34.233 billion yuan, while the Shenzhen Stock Exchange's main board had 8 IPOs raising 4.378 billion yuan, and the ChiNext board had 24 IPOs raising 14.887 billion yuan, totaling 64.821 billion yuan across all exchanges [7]. - The company "淳中科技" clarified that its business does not involve the production of liquid-cooled servers, only participating in testing platforms [11]. - "中国船舶" announced that its stock will resume trading on August 19 [12]. Group 2: Media and Content Regulations - The National Radio and Television Administration implemented measures to enhance television content supply, encouraging the inclusion of high-quality micro-short dramas in TV broadcasts [3][7]. - The "Content Renewal Plan" aims to improve content innovation and management policies for TV series, including adjustments to the number of episodes and airing intervals [7]. Group 3: Technology and Innovation - The "北京市可再生能源开发利用条例实施方案" draft seeks to advance hydrogen energy infrastructure and applications, aiming to establish a comprehensive hydrogen infrastructure network in the Beijing-Tianjin-Hebei region [8]. - The "河北省加快推动北斗规模应用三年行动方案" draft focuses on enhancing the Beidou infrastructure and establishing a public service platform for Beidou applications [8]. Group 4: Corporate Performance - "芯动联科" reported a net profit increase of 173.37% year-on-year for the first half of the year and plans to distribute 1.56 yuan per 10 shares [16]. - "国盛金控" achieved a net profit of 209 million yuan in the first half of the year, marking a 369.91% increase [17]. - "骄成超声" reported a net profit of 58.037 million yuan, reflecting a 1005.12% year-on-year growth [18].

Group 1: China Shipbuilding - China Shipbuilding will resume trading on August 19, 2025, following a merger with China National Heavy Industry Group through a share exchange [1] - The company has a market capitalization exceeding 170 billion yuan and is expected to achieve a net profit of 2.8 billion to 3.1 billion yuan for the first half of 2025, representing a year-on-year growth of 98.25% to 119.49% [1] - The company focuses on its core business, with improved production efficiency and a favorable overall development trend in the shipbuilding industry, leading to performance growth [1] Group 2: TDI Market - TDI prices have surged, with a benchmark price of 16,066.67 yuan per ton as of August 18, 2025, reflecting a cumulative increase of 40.94% since the beginning of the second half of the year [3][5] - The price range for TDI in 2025 is projected to be between 10,400 yuan and 16,766.67 yuan per ton, with a maximum increase of 61.22% [3] - The recent price increase is attributed to a reduction in production capacity due to incidents at major production facilities, including a fire at Covestro and maintenance at Wanhua Chemical's subsidiary [5] Group 3: TDI-Related Companies - The A-share market has four main companies involved in TDI production: Wanhua Chemical, Cangzhou Dahua, Beihua Co., and Hanjin Technology [6] - Wanhua Chemical is the leading domestic TDI producer, with a total capacity of 147,000 tons per year after the completion of a new project [6] - Cangzhou Dahua maintains stable operations with an annual TDI capacity of 160,000 tons, while Beihua Co. does not produce TDI but is involved in TDI trading through a subsidiary [6][7]

Market Performance - On August 18, the A-share market saw significant gains, with multiple indices reaching new highs, including the Shanghai Composite Index, which hit a nearly 10-year high and closed above 3700 points. The market turnover exceeded 2.8 trillion yuan, and the total market capitalization of A-shares surpassed 100 trillion yuan for the first time. The Shanghai Composite Index rose by 0.85% to 3728.03 points, the Shenzhen Component Index increased by 1.73%, and the ChiNext Index climbed by 2.84%. The North Star 50 surged by 6.79%, setting a historical high [1]. Investment News - As of August 16, a total of 636 state-controlled listed companies disclosed merger and acquisition plans, totaling 1029 deals, representing a year-on-year increase of 10.29%. Among these, 32 were significant asset restructurings, up 68.42% year-on-year. This trend is attributed to favorable policies and accelerated professional integration of state assets, leading to a faster aggregation of quality resources towards listed companies [4]. - The Shanghai Stock Exchange reported that one new company was accepted for the Sci-Tech Innovation Board last week. As of August 17, there have been 179 new IPO applications this year [5]. - There is a noticeable "see-saw" effect in the stock and bond markets, with major interest rates on bonds rising by 2-6 basis points. The yield on 30-year government bonds reached a new high since March 18, while government bond futures fell across the board, with the main contract for 30-year bonds dropping by 1.33%, marking a new closing low since March 24. The yield on "two perpetual bonds" from banks also rose significantly by 8-11 basis points [5]. - Recent reports indicate that various funds, including public funds, private equity, insurance capital, and foreign investments, are actively entering the market, showing a clear trend of funds migrating from bank deposits to equity markets, alongside an increase in share buyback funds from listed companies [5]. Company Developments - China Shipbuilding announced that its stock will resume trading on August 19 [6]. - China Shipbuilding Industry Corporation's stock was voluntarily delisted from the exchange [6]. - Gree Electric's market director responded to claims that Xiaomi surpassed Gree in online sales in July, stating that Gree still maintains a leading position under the same query conditions [6]. - Leap Motor reported a revenue of 24.25 billion yuan for the first half of the year, a year-on-year increase of 174%, with a gross margin of 14.1%, the highest since the company's establishment. The company also reported a strong cash position of 29.58 billion yuan and maintained positive operating and free cash flows [6]. - Jintian Co., Ltd. reported a revenue of 59.294 billion yuan for the first half of the year, a year-on-year increase of 2.46%, and a net profit of 373 million yuan, up 203.86%. The company improved its operational efficiency through digital transformation, enhancing product gross margins and profitability [6]. - Huasheng Tiancheng reported normal production and operational activities, with no significant changes in its main business [6].

8月18日晚间，中国船舶（600150）公告称，公司股票将于2025年8月19日开市起复牌。此前，公司已刊登拟开展吸收合并重大资产重组项目的异议股东收 购请求权申报结果，并于8月13日开市起停牌实施收购请求权申报，申报期截至8月15日结束。 公司同时公告，公司换股吸收合并中国重工暨关联交易之异议股东收购请求权申报期间内，共有3名股东进行了申报，申报股份数量10500股。经核对，剔 除无效申报后，本次收购请求权有效申报的异议股东数量为0名，有效申报的异议股份数量为0股。 值得一提的是，停牌前夕，中国船舶总市值约1722亿元，中国重工总市值约1163亿元。待合并完成，这艘"造船航母"将正式扬帆起航。 （文章来源：上海证券报） | 证券代码 证券简称 | | 停复牌类型 | 停牌起 停牌 | | 停牌终止日 | 复牌 | | --- | --- | --- | --- | --- | --- | --- | | | | | 始日 | 期间 | | | | 600150 | 中国船舶 | Ａ 股 复牌 | | | 2025/8/18 | 2025/8/19 | 同日，中国重工（601989）公告称，公司已于2025年 ...

Core Viewpoint - The merger between China Shipbuilding and China Shipbuilding Industry Corporation is progressing, with China Shipbuilding set to absorb China Shipbuilding Industry through a share exchange, leading to the latter's delisting [1][3]. Group 1: Merger Details - China Shipbuilding announced that its stock will resume trading on August 19, 2025, following the merger announcement [1]. - China Shipbuilding plans to absorb China Shipbuilding Industry by issuing A-shares to all shareholders of the latter [1]. - The merger will result in China Shipbuilding inheriting all assets, liabilities, businesses, personnel, contracts, and other rights and obligations of China Shipbuilding Industry [3]. Group 2: Shareholder Actions - As of August 18, 2025, three shareholders submitted requests to exercise their dissenting shareholder rights, totaling 10,500 shares, but ultimately no valid dissenting shares were reported [2]. - The dissenting shareholders have the right to sell their shares at a price of 30.02 yuan per share, which is 28.25% lower than the closing price of 38.50 yuan per share on August 12, 2025 [2]. Group 3: Financial Performance - China Shipbuilding expects to achieve a net profit attributable to shareholders of 2.8 billion to 3.1 billion yuan in the first half of 2025, representing an increase of 98.25% to 119.49% year-on-year [3]. - The company anticipates a non-recurring net profit of 2.635 billion to 2.935 billion yuan, reflecting a year-on-year increase of 119.89% to 144.93% [3].

Core Viewpoint - China Shipbuilding Industry Co., Ltd. plans to absorb and merge China Shipbuilding Heavy Industry Co., Ltd. through a share exchange, leading to the termination of the latter's listing and the transfer of all its assets and liabilities to the former [1][2]. Group 1 - The merger has been approved by the shareholders at the extraordinary general meeting held on February 18, 2025, and has received regulatory approval from the China Securities Regulatory Commission [1][2]. - The share exchange will involve China Shipbuilding issuing A-shares to all shareholders of China Heavy Industry in exchange for their shares [2]. - Following the completion of the merger, China Heavy Industry will terminate its listing and cancel its legal entity status, while China Shipbuilding will inherit all assets, liabilities, businesses, personnel, contracts, and other rights and obligations of China Heavy Industry [2]. Group 2 - On August 14, 2025, the company submitted an application for the voluntary termination of its stock listing to the Shanghai Stock Exchange, which was accepted on August 18, 2025 [2]. - The company will publish a related announcement regarding the termination of its stock listing once it is approved by the Shanghai Stock Exchange [2].

Core Viewpoint - China Shipbuilding Industry Co., Ltd. plans to absorb and merge with China Shipbuilding Heavy Industry Co., Ltd. through a share exchange, which may lead to the termination of the latter's stock listing [1][2]. Group 1: Merger and Acquisition Details - The merger has been approved by the shareholders at the extraordinary general meeting held on February 18, 2025, and has received regulatory approval from the China Securities Regulatory Commission [1]. - The transaction will result in China Heavy Industry no longer having independent legal status and being deregistered, which falls under the category of voluntary delisting as per the Shanghai Stock Exchange listing rules [1]. Group 2: Delisting Process - On August 18, 2025, the Shanghai Stock Exchange acknowledged the application for voluntary delisting submitted by China Heavy Industry [2]. - The Exchange will make a decision on the delisting application within 15 trading days after acceptance, with a possible extension if additional materials are requested [2]. - If approved, the stock will be delisted within 5 trading days following the announcement, and the delisted stock will not enter a trading period for delisted companies [2]. Group 3: Share Exchange Implementation - After the delisting, China Shipbuilding can proceed with the share exchange, where shareholders will convert their shares according to the agreed exchange ratio detailed in the merger report [2]. - The newly issued shares by China Shipbuilding will be listed and traded on the Shanghai Stock Exchange after the completion of registration procedures [2].

Group 1 - China Shipbuilding announced on August 18 that there were 0 valid dissenting shares during the period for dissenting shareholders to exercise their buyout rights, allowing the company's stock to resume trading on August 19 [2][3] - The stock of China Shipbuilding will be resumed for trading following the completion of the dissenting shareholder buyout rights declaration period, which ended on August 15 [3] - China Shipbuilding plans to absorb and merge China Shipbuilding Industry Corporation through a share exchange, with the record date for the buyout rights set for August 12, 2025 [3] Group 2 - China Shipbuilding Industry Corporation submitted an application for voluntary delisting to the Shanghai Stock Exchange on August 14, which was accepted on August 18 [4] - The Shanghai Stock Exchange will make a decision on the delisting application within 15 trading days after acceptance, with a possible extension if additional materials are requested [5] - If approved, the delisting will occur within 5 trading days after the announcement, and the stock will not enter a delisting transition period [5]

Core Viewpoint - China Shipbuilding Industry Company (中国船舶) is set to absorb China Shipbuilding Industry Corporation (中国重工) through a share swap, with no dissenting shareholders reported during the acquisition process [1][2][3] Group 1: Company Announcements - China Shipbuilding announced that it will resume trading on August 19 after a temporary suspension for the acquisition process [2] - The effective dissenting shares during the acquisition request period were reported as 0 shares, indicating no opposition from shareholders [2] - China Shipbuilding will issue A-shares to all shareholders of China Heavy Industry as part of the merger [2] Group 2: Termination of Listing - China Heavy Industry submitted an application for voluntary termination of its stock listing on August 14, which was accepted by the Shanghai Stock Exchange on August 18 [3] - The Shanghai Stock Exchange will decide on the termination of the listing within 15 trading days after accepting the application [3] - If approved, the stock will be delisted within five trading days following the announcement of the termination [3]