Core Viewpoint - The major asset restructuring plan of Bangji Technology has been abruptly terminated due to the inability to reach an agreement with the transaction party, Riverstone Farm Pte. Ltd. [1][5] Summary by Sections Termination of Major Asset Restructuring - On November 11, Bangji Technology announced the termination of its plan to acquire 100% equity of several companies from Riverstone Farm Pte. Ltd. through share issuance and cash payment [3][5]. Reasons for Termination - The company stated that despite hiring intermediaries for due diligence and negotiations, no consensus was reached on the transaction plan. The decision to terminate was made to protect the interests of the company and its shareholders [5][6]. Decision-Making Process - The termination was approved in a board meeting held on November 11, 2025, and did not require shareholder approval as the transaction was still in the preliminary stage. Independent directors confirmed that the termination complies with legal requirements and does not harm the interests of shareholders [5][6]. Impact on Business Operations - Bangji Technology indicated that its current business operations remain normal and that the termination will not adversely affect its financial status or future development strategy. The company also committed to not planning any major asset restructuring for at least one month following the announcement [5][6]. Stock Price Movement - Following the announcement of the termination, Bangji Technology's stock price experienced significant declines, dropping 8.91% and 7.54% on November 10 and 11, respectively. The stock has seen a cumulative decline of 15.78% over the week, with a total market value reduced to 3.664 billion CNY [1][6]. Previous Stock Performance - Prior to the termination announcement, the stock price had surged by 81% from June 17 to September 16 due to the anticipation of the asset restructuring [12]. The company reported a revenue of approximately 4.149 billion CNY for the first three quarters, a year-on-year increase of 155.4%, and a net profit of about 106 million CNY, up 148.64% year-on-year [12].

分组1 - Midea Group announced a cash dividend distribution plan for the 2025 mid-term A-shares, distributing 5 yuan per 10 shares, totaling 3.448 billion yuan [1] - Huayuan Communication is planning a change in control and will suspend trading of its stock starting November 12, 2025, for up to two trading days [2] - Shangwei New Materials reported a significant stock price increase of 1573.52% from July 9 to November 11, 2025, but its new intelligent robot business is still in the development stage and has not generated revenue [3] 分组2 - Shannon Chip announced that shareholder Shenzhen Xinlianpu pledged 1.27 million shares, accounting for 5.55% of its holdings and 0.27% of the total share capital [4] - Tianji Co., Ltd. reported that its controlling shareholder pledged 39.965 million shares for its own production and operation, representing 64.79% of its holdings and 7.97% of the total share capital [5] - ST Zhengping completed its stock trading situation review and will resume trading on November 12, 2025, with no significant changes in its production and operation [6] 分组3 - Furi Co. reported that its subsidiary Furi New Energy is facing risks of losses despite a 47.78% year-on-year increase in revenue to 168.3981 million yuan for the first three quarters of 2025 [7] - Wentai Technology announced that major shareholders reduced their holdings by 12.4443 million shares, completing the reduction plan [8] 分组4 - Anke Biotech signed a framework agreement for exclusive agency of PA3-17 injection, a CAR-T cell therapy product, in Greater China [9] - Tongxing Technology plans to invest approximately 3.2 billion yuan in a project to produce 100,000 tons of sodium-ion battery cathode materials and 6 GWh of battery cells [10] - Redik plans to establish a joint venture for the development of robotic components, with a registered capital of 100 million yuan [11] 分组5 - Haike New Source signed a strategic cooperation agreement with Kunlun New Materials for the purchase of 596,200 tons of electrolyte solvent over three years [12] - World announced that its diamond micro-drill products for PCB processing are still in the R&D phase and have not generated revenue [13] 分组6 - Xiamen Airport reported a 1.56% year-on-year increase in passenger throughput for October [14] - New City Holdings reported a 7.65% year-on-year increase in total commercial operating revenue for October [15] - Huadong Holdings announced a 0.65% year-on-year decrease in pig sales revenue for October [15] 分组7 - Keykai Technology's controlling shareholder plans to transfer 3% of its shares [15] - Zhongyou Engineering won a joint bid for a project worth approximately 3 billion yuan in Kazakhstan [15] - Weiteng Electric plans to raise no more than 300 million yuan through a private placement for smart manufacturing projects [15]

分组1 - Midea Group announced a cash dividend distribution plan for the 2025 interim A-shares, proposing a payout of 5 yuan for every 10 shares, totaling 3.448 billion yuan [2] - Huayuan Communication is planning a change in control and will suspend trading of its stock starting November 12, 2025, for up to two trading days [3] - Shangwei New Materials reported a significant stock price increase of 1573.52% from July 9 to November 11, 2025, but its new intelligent robot business is still in the product development stage and has not yet generated revenue [4] 分组2 - Shannon Chip announced that shareholder Shenzhen Xinlianpu has pledged 1.27 million shares, accounting for 5.55% of its holdings and 0.27% of the total share capital, for financing purposes [5] - Tianji Co., Ltd. disclosed that its controlling shareholder has pledged 39.965 million shares for its own production and operation, representing 64.79% of its holdings and 7.97% of the total share capital [6] - ST Zhengping completed its stock trading situation review and will resume trading on November 12, 2025, with no significant changes in its production and operation [7] 分组3 - Furi Co., Ltd. reported that its subsidiary Furi New Energy is facing a risk of losses despite a 47.78% year-on-year increase in revenue to 168.3981 million yuan for the first three quarters of 2025 [8] - Wentai Technology announced that major shareholders have reduced their holdings by 12.4443 million shares, completing the reduction plan [9] - Anke Biotech signed a framework agreement for exclusive agency of the PA3-17 injection product in Greater China, which is a CAR-T cell therapy for certain cancers [10] 分组4 - Tongxing Technology plans to invest approximately 3.2 billion yuan in a project to produce 100,000 tons of sodium-ion battery cathode materials and 6GWh battery cells [11] - Redick is collaborating with Aoyi Technology to establish a joint venture for the development of robotic components, with a registered capital of 100 million yuan [12] - Haike New Source signed a strategic cooperation agreement with Kunlun New Materials for the purchase of 596,200 tons of electrolyte solvent over a two-year period [13] 分组5 - World announced that its diamond micro-drills for PCB processing are still in the research and testing phase, with limited revenue impact [14][15] - Huadong Holdings reported a 0.65% year-on-year decline in pig sales revenue for October [16] - Keykai Technology's controlling shareholder plans to transfer 3% of its shares through an inquiry [17]

证券日报网讯 11月11日晚间，邦基科技发布公告称，2025年11月11日，山东邦基科技股份有限公司 （以下简称"公司"）召开第二届董事会第十七次会议，审议通过了《关于终止重大资产重组事项的议 案》，同意公司终止以发行股份及支付现金的方式购买Riverstone Farm Pte.Ltd.所持有的山东北溪农牧 有限公司、山东瑞东伟力农牧有限公司、山东鑫牧农牧科技有限公司、瑞东农牧（利津）有限公司、瑞 东农牧（山东）有限责任公司、瑞东威力牧业（滨州）有限公司全部100%的股权以及派斯东畜牧技术 咨询（上海）有限公司80%股权（以下简称"本次重大资产重组"）的事项。公司计划于2025年11月17日 （星期一）11：00-12：00，召开终止本次重大资产重组事项的投资者说明会。 （编辑 楚丽君） ...

Core Viewpoint - Company announced the termination of a significant asset restructuring plan aimed at acquiring multiple agricultural and consulting firms due to failure to reach a consensus with the transaction counterparties [2][5] Company Summary - The terminated restructuring involved acquiring 100% equity stakes in six agricultural companies and 80% of a consulting firm [2] - The restructuring process began in June 2025, but the audit and valuation of the target assets were not completed by the time of the termination announcement [5] - Company stated that the termination will not adversely affect its current operations or financial status, and it will continue to focus on its core business [5][6] Industry Summary - The agricultural and livestock industry has been significantly affected by cyclical fluctuations and policy adjustments, leading to common disagreements over valuation and performance commitments in restructuring transactions [6] - Market analysts noted that the failure to reach a final agreement is a frequent reason for the termination of restructuring deals in the industry [6]

Core Viewpoint - The company, Bangji Technology, has announced the termination of its major asset restructuring plan aimed at acquiring several pig farming companies, indicating challenges in reaching an agreement with the transaction counterparties and unfavorable market conditions in the pig farming industry [1][3]. Company Summary - Bangji Technology (603151.SH) initially planned to acquire 100% equity in multiple pig farming companies and 80% equity in a consulting firm through a combination of share issuance and cash payment [2]. - The company's primary business involves the research, production, and sales of pig feed, with a focus on animal nutrition and health [3]. - The intended acquisition aimed to diversify Bangji Technology's operations from solely pig feed to a vertically integrated model encompassing feed production, pig farming, and sales [3]. Industry Summary - The pig farming industry has faced a downturn, with a significant decline in pig prices and many companies reporting decreased performance in the third quarter [3]. - As of the end of Q3, the national breeding sow inventory was 40.35 million, contributing to an oversupply in the market and resulting in financial losses for many farming companies [3]. - Regulatory measures have been implemented to reduce breeding sow capacity and control production, indicating a focus on reducing supply in the industry [4]. - Bangji Technology reported a revenue of 4.149 billion yuan for the first three quarters, a year-on-year increase of 155.40%, but faced a negative cash flow from operating activities of -672 million yuan [4].

邦基科技表示，经与交易对方就本次交易方案进行多次协商和谈判后，仍未能最终达成一致，同意与交 易对方商议终止本次重大资产重组交易。 交易行情显示，11月11日，邦基科技收跌7.54%，收于21.45元/股，总市值36.64亿元。 公告显示，邦基科技原拟通过发行股份及支付现金的方式购买RiverstoneFarmPte.Ltd.所持有的山东北溪 农牧有限公司、山东瑞东伟力农牧有限公司、山东鑫牧农牧科技有限公司、瑞东农牧（利津）有限公 司、瑞东农牧（山东）有限责任公司、瑞东威力牧业（滨州）有限公司全部100%的股权以及派斯东畜 牧技术咨询（上海）有限公司80%的股权。 北京商报讯（记者 马换换 李佳雪）11月11日晚间，邦基科技（603151）披露公告称，公司终止重大资 产重组。 ...

Core Points - Bangji Technology has announced the termination of its major asset restructuring plan due to failure to reach an agreement with Riverstone Farm Pte. Ltd. after multiple negotiations [1][3][8] - The company has committed not to plan any major asset restructuring for at least one month following the termination announcement [3][8] Stock Performance - Bangji Technology's stock price experienced significant declines of 8.91% and 7.45% on November 10 and 11, respectively, closing at 21.45 yuan per share with a total market capitalization of 3.664 billion yuan [5][9] - The stock was listed on the trading leaderboard, with the top five buyers being brokerage firms and four of the top five sellers being institutional accounts [10] Business Operations - The terminated transaction was intended to acquire 100% equity in several companies, including Shandong Beixi Agriculture and Animal Husbandry and Shandong Ruidong Agriculture, which would have represented a significant asset restructuring and related party transaction [6][11] - Despite the termination, Bangji Technology stated that its current operations and financial status would not be adversely affected, nor would it impact future development strategies [11] Financial Overview - As of the end of the third quarter of 2025, Bangji Technology reported total assets of 3.219 billion yuan and equity attributable to shareholders of 1.362 billion yuan [14][16] - The company has shown a net profit of 83.89 million yuan, 50.13 million yuan, and 106 million yuan for the years 2023, 2024, and the first three quarters of 2025, respectively [14][16]

Core Viewpoint - Bangji Technology has announced the termination of its major asset restructuring plan due to failure to reach an agreement with Riverstone Farm Pte. Ltd. after multiple negotiations [1][8]. Group 1: Stock Performance - On November 10 and 11, Bangji Technology's stock price fell by 8.91% and 7.45%, respectively, closing at 21.45 yuan per share, with a total market capitalization of 3.664 billion yuan [4][6]. - Prior to the official announcement of the termination, the stock experienced a significant decline, with intraday drops exceeding 9% on both days [8]. Group 2: Termination of Restructuring - The board of Bangji Technology approved the termination of the acquisition of shares in several agricultural and livestock companies from Riverstone, which were expected to constitute a related party transaction and a major asset restructuring [6][10]. - The terminated assets included 100% equity stakes in multiple companies, such as Shandong Beixi Livestock Co., Ltd. and Shandong Ruido Weili Livestock Co., Ltd., among others [6][10]. Group 3: Financial Impact and Future Strategy - Bangji Technology stated that the termination of the transaction will not have a significant adverse impact on its current operations or financial status, nor will it affect its future development strategy [10]. - The original plan aimed to extend the company's business from solely pig feed production to a vertically integrated industry chain involving feed production, pig farming, and sales [10]. - The financial data of Shandong Ruido Weili Livestock Co., Ltd., one of the targeted assets, indicated a total asset value of 374 million yuan and an owner's equity of 353 million yuan as of April 2025, with projected net profits of -13.16 million yuan, 72.40 million yuan, and 34.54 million yuan for the years 2023, 2024, and the first four months of 2025, respectively [10].

（编辑 任世碧） 证券日报网讯 11月11日晚间，邦基科技发布公告称，2025年11月11日公司召开第二届董事会第十七次 会议，审议通过了《关于终止重大资产重组事项的议案》，同意公司终止以发行股份及支付现金的方式 购买RiverstoneFarmPte.Ltd.所持有的山东北溪农牧有限公司、山东瑞东伟力农牧有限公司、山东鑫牧农 牧科技有限公司、瑞东农牧（利津）有限公司、瑞东农牧（山东）有限责任公司、瑞东威力牧业（滨 州）有限公司全部100%的股权以及派斯东畜牧技术咨询（上海）有限公司80%股权的事项并授权公司 管理层办理本次终止相关事宜。 ...