Core Viewpoint - A-share listed companies are actively subscribing to private equity products, with a total subscription amount reaching 818 million yuan as of November 7 this year [1]. Subscription Overview - Ten listed companies have disclosed their subscription or continued subscription to private equity products, involving a total of 13 private equity firms [1]. - The private equity firms are categorized by management scale: four firms have over 10 billion yuan, four firms are in the 1-2 billion yuan range, three firms are in the 0-500 million yuan range, one firm has 5-10 billion yuan, and one firm has 2-5 billion yuan [1]. Notable Subscriptions - Yaxing Anchor Chain (601890.SH) has made the largest investment, with a total subscription amount of 263 million yuan across three private equity products this year [2][3]. - Yongji Co., Ltd. (603058.SH) has invested 100 million yuan in the "Shanzha Tree Zhenzhu 5" product, showing a history of multiple investments in this product since 2020 [4]. - Zhongxing Junye (002772.SZ) extended the investment period for the "Shanyuan Jin 206" product, which it initially subscribed to for 100 million yuan in 2021 [5]. Preference for Large Private Equity Firms - Diya Co., Ltd. (301177.SZ) and Innovation New Materials (600361.SH) prefer large private equity firms, with Diya investing 60 million yuan in two products from firms with over 10 billion yuan in management scale [6]. - Other companies like Heshun Petroleum (603353.SH) and Jinzhen Co., Ltd. (600446.SH) have also made significant investments in various private equity products this year [6]. Historical Performance and Returns - Companies have reported past performance and returns from their private equity investments, such as Yangguang Lighting (600261.SH) redeeming portions of its investments and realizing significant returns [8]. - Yongji Co., Ltd. reported a total investment return of 121 million yuan from the "Shanzha Tree Zhenzhu 5" product in 2021, but saw a decline in investment returns in 2022 due to reduced gains from private equity redemptions [8].

Core Insights - The article highlights the increasing enthusiasm of listed companies in China towards private equity investments, with a total subscription amount of 748 million yuan for private securities products as of November 5, 2025 [1] Group 1: Subscription Trends - Nine listed companies, including Yongji Co., Diah Co., and Chuangxin New Materials, have announced subscriptions to private equity products, involving 11 transactions [1] - The total subscription amount reached 748 million yuan, indicating a strong interest from listed companies in private investments [1] Group 2: Preference for Large Private Equity Firms - Large private equity firms with over 10 billion yuan in assets have become popular among listed companies, with four firms—Yinye Investment, Century Frontier, Yuanfeng Fund, and Liangpai Investment—receiving a combined subscription amount of 220 million yuan, accounting for 29.41% of the total [1] - Diah Co. has shown confidence in leading quantitative and mixed private equity firms by subscribing 60 million yuan to Yinye Investment and 50 million yuan to Century Frontier [1] Group 3: Diverse Investment Strategies - The subscription strategies exhibit a diversified approach, with quantitative strategies emerging as a significant choice; over 50% of the 11 subscriptions were to products from quantitative and subjective + quantitative mixed private equity firms [1] - Yaxing Anchor Chain subscribed twice to quantitative products from Yanbo Chengfeng, totaling 243 million yuan; other companies like Taiji Co., Keli Sensor, and Diah Co. also invested in quantitative products from various firms [1] Group 4: Variation in Subscription Amounts - There is a notable disparity in the subscription amounts among listed companies, with some like Yaxing Anchor Chain, Yongji Co., and Chuangxin New Materials investing over 100 million yuan, while others like Rongtai Health made a smaller attempt with 5 million yuan [2]

Core Viewpoint - Yongji Co., Ltd. announced the repurchase of shares, indicating a strategic move to enhance shareholder value and confidence in the company's future performance [2] Summary by Category Company Actions - On November 5, 2025, Yongji Co., Ltd. repurchased 536,800 shares through the Shanghai Stock Exchange's centralized bidding system [2] - The repurchased shares account for 0.1278% of the company's total share capital [2]

Core Insights - Yongji Co., Ltd. reported that as of October 31, 2025, the number of shareholders is expected to reach 16,674 [2] Company Summary - Yongji Co., Ltd. is actively engaging with investors through interactive platforms, indicating a focus on shareholder communication and transparency [2] - The projected increase in the number of shareholders suggests potential growth in investor interest and market participation [2]

Group 1 - Jia Yuan Technology signed a cooperation framework agreement with CATL to expand their business relationship and establish a long-term partnership for the supply and development of copper foil products for new battery applications [3] - Beizhi Technology's application for issuing shares and cash to acquire 100% equity of Suzhou Suike Intelligent Technology Co., Ltd. has been accepted by the Shanghai Stock Exchange [4] - Haiqi Group's general manager Ma Chao resigned due to personal career planning, and the company will expedite the election and appointment of new directors and a general manager [5] Group 2 - Hengyuan Coal Power plans to use 4.4 billion yuan to acquire 100% equity of two companies and assume 1.137 billion yuan in debts, with the transaction approved by the board [6] - *ST Xingguang's stock price deviated significantly, prompting a warning about delisting risks due to underperformance in 2024 [7] - Jishi Media's main business includes smart broadcasting, data services, and digital innovation services, with a reminder for investors to be cautious [8] Group 3 - Luzhou Laojiao plans to invest approximately 1.478 billion yuan in the construction of a historical culture industrial park and museum [9] - Aerospace Hongtu has been suspended from military procurement activities for three years due to alleged violations in a project [11] - Triangle Defense signed a gas turbine project development agreement with Siemens Energy, which is expected to enhance its international market presence [12] Group 4 - Zhenghong Technology reported a significant decrease in sales revenue from live pigs in October 2025, with a 58.93% month-on-month decline [14] - *ST Tianshan achieved a 354.15% year-on-year increase in live livestock sales in October 2025 [15] - Jindi Group's contract signing amount in October 2025 dropped by 65.78% year-on-year [16] Group 5 - Muyuan Foods reported a 22.28% year-on-year decrease in sales revenue from commodity pigs in October 2025 [17] - King Long Automobile's bus production and sales data for October 2025 showed mixed results, with production down slightly but cumulative production up [18] - Wens Foodstuff Group sold 128 million meat chickens in October 2025, with a revenue of 3.633 billion yuan [19] Group 6 - Yongji Co., Ltd. repurchased 0.1278% of its shares for a total of 5.0856 million yuan [21] - Tianzheng Electric's actual controller reduced their shareholding to 40.55% after a 1.29% decrease [22] - Hualan Co. plans to increase its shareholding by 2% through a buyback plan [23] Group 7 - Xiang Teng New Materials' shareholders terminated their share reduction plan early, having reduced 2.91% of shares [24] - Anbiping's shareholders plan to reduce their holdings by up to 1% starting from November 28, 2025 [25] - Jinshiyuan's controlling shareholder increased their stake to 46% through a buyback of 5.4 billion yuan [26] - Sanjiang Shopping's major shareholder plans to reduce their stake by up to 3% due to business arrangements [27]

| 证券代码：603058 | 证券简称：永吉股份 | 公告编号：2025-105 | | --- | --- | --- | | 转债代码：113646 | 转债简称：永吉转债 | | 贵州永吉印务股份有限公司 公司于 2025 年 5 月 16 日召开 2025 年第三次临时股东大会，审议通过《关 于以集中竞价交易方式回购公司股份方案的议案》。具体内容请查阅公司于 2025 年 5 月 17 日在上海证券交易所网站（www.sse.com.cn）披露的《2025 年第三次 临时股东大会决议公告》（公告编号：2025-066）。 二、 回购股份的进展情况 2025 年 11 月 5 日，公司通过上海证券交易所交易系统集中竞价交易方式首 次回购股份 536,800 股，已回购股份占公司总股本的比例为 0.1278%，购买的最 高价为 9.54 元/股、最低价为 9.26 元/股，已支付的总金额为 5,085,569.66 元（不 含交易费用）。本次回购符合相关法律法规的规定及公司既定的回购股份方案。 三、 其他事项 重要内容提示： | 回购方案首次披露日 | 2025/4/29，由董事长提议 | | | | ...

Core Viewpoint - Yongji Co., Ltd. announced its first share buyback on November 5, 2025, through the Shanghai Stock Exchange, repurchasing 536,800 shares, which represents 0.1278% of the total share capital [1] Summary by Relevant Sections - **Share Buyback Details** - The company repurchased shares at a maximum price of 9.54 yuan per share and a minimum price of 9.26 yuan per share [1] - The total amount paid for the buyback was 5.0856 million yuan, excluding transaction fees [1] - **Compliance and Future Actions** - The buyback is in accordance with relevant laws and regulations, as well as the company's established buyback plan [1] - The company will implement further buybacks based on market conditions and will fulfill its information disclosure obligations in a timely manner [1]

Core Viewpoint - The company has initiated a share buyback program, indicating a commitment to enhancing shareholder value through capital management [1] Summary by Sections Share Buyback Details - The company repurchased 536,800 shares on November 5, 2025, through the Shanghai Stock Exchange's centralized bidding system [1] - The repurchased shares account for 0.1278% of the company's total share capital [1] - The highest purchase price was 9.54 CNY per share, while the lowest was 9.26 CNY per share [1] - The total amount paid for the buyback was 5.0856 million CNY, excluding transaction fees [1] Purpose of Buyback - All repurchased shares will be used for cancellation, leading to a reduction in the company's registered capital [1]

Core Viewpoint - The company is acquiring the remaining minority stake in PIJEN (NO. 22) PTY LTD for 3.1 million AUD, reflecting a slight increase in valuation compared to the previous round of investment, indicating confidence in the target company's growth and market potential [2][3][5]. Valuation of the Target Company - The valuation of the target company is based on historical financing valuations, operational performance, and market potential, with a focus on the comprehensive business chain of the target company [1]. - The current transaction values the target company at approximately 5.88 million AUD, with a 3.09% increase from the previous valuation of 5.71 million AUD [3][5]. Financial Performance of the Target Company - The target company has shown significant growth, with revenue increasing by 114,236.65%, total assets growing by 317.17%, and net profit improving from a loss of 1.3 million AUD to a profit of 5.41 million AUD [4][5]. - The company will fully consolidate the target's profits post-acquisition, enhancing its overall financial performance [5]. Payment Structure - The payment for the acquisition will be made in three installments, with the first payment of 1.86 million AUD due by January 31, 2026 [6][9]. - The company has sufficient cash reserves to cover the initial payment and is exploring financing options to ensure the acquisition is funded without impacting operational cash flow [6]. Land Ownership and Rights - The target company holds approximately 421.7 hectares of land, with a commitment to retain at least 29 hectares for operational purposes post-acquisition [7][8]. - The land's market value is recorded at 70,000 AUD, and the ownership will be confirmed during the transaction without additional costs [7][8]. Guarantees Related to the Transaction - The transaction includes guarantees from the target company and its operational assets, covering the second and third payment phases, totaling 1.24 million AUD [9][10]. - The company will seek shareholder approval for the guarantees as part of the transaction process [10].

| 证券代码：603058 | 证券简称：永吉股份 | 公告编号：2025-104 | | --- | --- | --- | | 转债代码：113646 | 转债简称：永吉转债 | | 贵州永吉印务股份有限公司 关于购买子公司少数股东股权的补充公告 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。 贵州永吉印务股份有限公司（以下简称"公司"）于2025年11月1日在上海 证券交易所网站（www.sse.com.cn）披露的《关于购买子公司少数股东股权的 公告》。现就上述公告中相关内容补充说明如下： 一、拟购买的少数股东股权（以下简称"交易标的"）的估值情况说明 （一）本次交易标的的估值原则为：参考标的公司历史融资估值，同时基 于标的公司的实际经营情况、以及交易标的的潜在价值，结合该类管制药品的 市场前景以及未来市场预期进行综合判断，本着公平、公正、互利的原则，重 点考虑标的公司经营资产所拥有的业务链全面（标的公司的资产运营主体是一 家全牌照的医麻药品生产企业，业务链涵盖研发、种植、加工、市场销售等） 的特点、以及标的公司未来获 ...