新亚强公告称，公司股票于2025年11月24 - 26日连续三个交易日收盘价格涨幅偏离值累计达20%，属异 常波动。经自查，公司生产经营正常，无应披露未披露重大事项，董事等相关人员无买卖公司股票情 况。2025年前三季度，公司营收4.51亿元，同比降19.05%，净利润7885.27万元，同比降20.39%。此 外，公司市盈率高于行业水平，提醒投资者注意业绩波动、市盈率较高等风险。 ...

Core Viewpoint - The control change of Xinyaqiang (603155.SH) has been finalized, with the state-owned Hancheng City Chengxin Equity Investment Fund acquiring a 29.9% stake for 1.96 billion yuan, marking a significant shift in the company's governance structure [1][2]. Group 1: Control Change Details - Xinyaqiang's controlling shareholder, Chu Lin, has signed a share transfer agreement with Chengxin Fund, which will pay the total amount in four installments [1]. - After the transfer, Chengxin Fund will become the largest shareholder, while Chu Lin and her brother will see their combined stake drop to 17.61%, losing control of the company [1][2]. - The actual controller will change to the State-owned Assets Supervision and Administration Commission of Hancheng City, integrating the company into the local state-owned asset regulatory system [1]. Group 2: Governance and Commitments - The transfer agreement includes multiple commitments to ensure operational stability, such as Chengxin Fund not transferring control for seven years and Chu Lin not seeking control for 18 months [2]. - The restructured board will consist of seven directors, with three independent directors, and both parties will have the right to nominate directors [2]. Group 3: Financial Performance - Xinyaqiang has faced declining performance over the past four years, with a continuous drop in net profit [3]. - Revenue figures from 2022 to 2024 show a downward trend, with revenues of 1.134 billion yuan, 675 million yuan, and 721 million yuan, reflecting changes of -28.82%, -40.44%, and 6.71% respectively [3]. - The net profit for the same period was 302 million yuan, 123 million yuan, and 114 million yuan, with year-on-year changes of -5.55%, -59.09%, and -7.36% [3]. - In the first three quarters of 2025, revenue decreased by 19.05% to 451 million yuan, and net profit fell by 20.39% to 79 million yuan, primarily due to declining product margins [3]. Group 4: Market Reaction - The market reacted positively to the news of state-owned capital entering the company, with Xinyaqiang's stock price hitting the daily limit on the announcement date and continuing to rise the following day [4]. - As of November 26, the stock closed at 19.82 yuan per share, indicating strong investor interest [4].

北京博星证券投资顾问有限公司 关于新亚强硅化学股份有限公司 详式权益变动报告书 之 财务顾问核查意见 财务顾问 二〇二五年十一月 | 第二节 | 序言 ····································································································5 | | | --- | --- | --- | | 第三节 | 财务顾问承诺与声明 ·············································································· | 6 | | | 一、财务顾问承诺 ······················································································· | 6 | | | 二、财务顾问声明 ······················································································· ...

分红方面，新亚强延续高分红传统，分别于2020年、2021年、2022年、2024年、2025年半年度分红，彰 显对股东回报的高度重视。 邯郸市国资委此次入主，并非简单的股权变更，而是基于对新亚强核心价值的深度认同与长期发展的战 略期许。城欣基金已明确承诺7年内不转让控制权，彰显了国有资本深耕产业、陪伴企业成长的决心。 未来，邯郸市国资委将依托自身产业资源，在产业链整合、新业务拓展、融资渠道优化等方面共同推动 公司在半导体材料、新能源助剂等高端领域实现更大突破，实现长久持续的发展。 （文章来源：证券日报） 新亚强自1992年成立以来，始终聚焦有机硅功能性助剂及特种单体的研发与生产，是国内首家打破国外 垄断的六甲基二硅氮烷生产商，产品矩阵覆盖甲基、乙烯基、苯基等高附加值领域。公司客户网络贯穿 全球头部企业，其电子级材料已深度切入半导体、平板显示及新能源产业链。 技术层面，截至目前，公司取得专利72项，高新技术产品4项，在国内率先实现直接法生产苯基氯硅 烷，建有目前国内唯一同时产出苯基三氯硅烷与二苯基二氯硅烷的直接法生产线。 截至2025年三季度末，公司资产合计23.87亿元，负债总额仅1.85亿元，资产负债率低 ...

Core Viewpoint - The company XinYaqiang (603155.SH) announced a significant change in its controlling shareholder, with the transfer of approximately 94.42 million shares from its current controlling shareholder, Chu Lin, to Handan City Chengxin Equity Investment Fund Partnership, marking a shift in control to the Handan State-owned Assets Supervision and Administration Commission [1][4]. Group 1: Share Transfer Details - Chu Lin signed a share transfer agreement on November 24, selling shares at a price of 20.76 CNY per share, totaling 1.96 billion CNY [1]. - After the transfer, the new controlling shareholder, Chengxin Fund, will hold 29.9% of the company's shares, while Chu Lin will retain 16.09% of the shares [2][3]. - The share transfer price represents a premium of approximately 15.2% over the closing price of 18.02 CNY on November 25, and a premium of about 26.74% over the closing price of 16.38 CNY on November 24 [2]. Group 2: Impact of Control Change - The company stated that the change in control will not affect its main business structure or daily operations, and it will maintain its independent governance and financial integrity [4]. - The Chengxin Fund, established on March 28, 2023, is managed by Shanghai Jincheng Equity Investment Fund Management Co., Ltd., and is committed to not transferring control for seven years and not transferring shares for 18 months post-transfer [4]. Group 3: Company Performance - XinYaqiang has experienced significant fluctuations in performance since its listing, with a continuous decline in net profit over the past three accounting years [5]. - For the first three quarters of this year, the company's revenue decreased by 19.05% to 451 million CNY, and net profit fell by 20.39% to 79 million CNY [5][6].

本次协议转让完成后，公司控股股东将由初琳变更为城欣基金，实际控制人将由初亚军、初琳变更 为邯郸市人民政府国有资产监督管理委员会。 前三季度，新亚强实现营业收入4.51亿元，同比下降19.05%；归属于上市公司股东的净利润0.79亿 元，同比下降20.39%；归属于上市公司股东的扣除非经常性损益的净利润0.53亿元，同比下降32.58%； 经营活动产生的现金流量净额0.31亿元，同比下降78.04%。 中国经济网北京11月26日讯 新亚强(603155.SH)昨晚披露关于控股股东协议转让公司股份暨控制权 发生变更的提示性公告。新亚强今日股价一字涨停，截至发稿上涨9.99%报19.82元。值得注意的是，昨 日新亚强股价已经涨停，涨幅10.01%报18.02元。 新亚强控股股东、实际控制人之一初琳于2025年11月24日与邯郸市城欣股权投资基金合伙企业（有 限合伙）（以下简称"城欣基金"）签署了《关于新亚强硅化学股份有限公司之股份转让协议》，约定初 琳将其持有的94,420,253股无限售条件流通股以20.76元/股的价格转让给城欣基金。根据双方对标的公 司估值的一致意见，双方同意，标的股份的转让对价总额为人民币1 ...

Core Viewpoint - The acquisition of controlling stake by Handan Municipal Government's State-owned Assets Supervision and Administration Commission (SASAC) in Xinyaqiang (603155.SH) signifies a strong recognition of the company's solid fundamentals and high-quality asset value, potentially serving as a model for state capital's strategic investment in high-end manufacturing and industrial upgrading [1] Group 1: Company Overview - Xinyaqiang has focused on the research and production of silicone functional additives and specialty monomers since its establishment in 1992, becoming the first domestic producer to break foreign monopolies in hexamethyldisilazane [2] - The company's product matrix includes high-value areas such as methyl, vinyl, and phenyl, with overseas market revenue accounting for 38.23%, establishing a stable profit base [2] - Xinyaqiang's electronic-grade materials are deeply integrated into the semiconductor, flat panel display, and new energy supply chains, making it a key player in the domestic substitution process [2] Group 2: Financial Health - As of the end of Q3 2025, Xinyaqiang reported total assets of 2.387 billion, with total liabilities of only 185 million, resulting in a low asset-liability ratio of 7.75%, significantly below the chemical industry average [3] - The company holds 1.597 billion in cash and trading financial assets, indicating a strong cash position that reduces operational risks and enhances strategic execution [3] - In 2024, Xinyaqiang achieved a net profit attributable to shareholders of 114 million, with basic earnings per share of 0.36, and a net operating cash flow of 169 million, reflecting a solid operational foundation [3] - The company maintains a high dividend tradition, with a payout ratio of 193% in 2024 and cumulative cash dividends of 446.6 million over the past three years, demonstrating a strong commitment to shareholder returns [3] Group 3: Strategic Collaboration - The entry of Handan SASAC is based on a deep recognition of Xinyaqiang's core value and long-term strategic expectations, with a commitment to not transfer control for seven years [4] - Handan SASAC aims to leverage its industrial resources to promote the company's growth in high-end fields such as semiconductor materials and new energy additives through industry chain integration, new business development, and financing channel optimization [4]

（文章来源：每日经济新闻） 每经AI快讯，11月26日，新亚强涨停走出2连板，2天累计涨幅达21.0%。 ...

Industry News - The National Space Administration has issued an action plan for promoting high-quality and safe development of commercial aerospace from 2025 to 2027, which includes the establishment of a national commercial aerospace development fund to encourage long-term, strategic, and value investments by local governments, financial institutions, and social capital [3] - The State Taxation Administration reported that from January to October 2025, tax authorities have investigated 3,904 high-risk gas stations, recovering tax and penalties totaling 3.644 billion yuan, in collaboration with public security, commerce, and market regulation departments to promote fair competition in the market [3] - The National Bureau of Statistics announced plans to promote state-owned enterprises to break down data barriers and actively open data resources for efficient and secure cross-enterprise and cross-industry data flow [3] - The Cyberspace Administration has recently cracked down on several illegal mobile internet applications that failed to implement regulations on labeling AI-generated content, taking measures such as interviews, deadlines for corrections, and removals [3] Company News - Tianfu Communication announced that its controlling shareholder, Tianfu Renhe, transferred 3.011 million shares for a total amount of 422 million yuan [6] - Alibaba Group reported its Q2 FY2026 earnings, with revenue of 247.8 billion yuan, a year-on-year increase of 4.8%, and adjusted net profit of 10.35 billion yuan. The Cloud Intelligence Group's revenue reached 39.82 billion yuan, up 34% year-on-year [6] - Shannon Semiconductor announced that its directors and executives plan to reduce their holdings by no more than 270,000 shares [7] - Upwind New Materials announced the election of Peng Zhihui as chairman and the appointment of Tian Hua as CEO [8] - Century Huatong announced that it has obtained a commitment letter for a stock repurchase special loan from China Merchants Bank of no more than 900 million yuan [9] - Heng Rui Pharmaceutical announced that its innovative drug HRS-8364 for the treatment of advanced solid tumors has received clinical trial approval, with no similar drugs approved for market in China and abroad [9] - Fusenmei announced that its deputy general manager and board secretary, Zhang Fengshu, is under investigation and has been placed under detention [10] - NIO released its Q3 2025 earnings report, with revenue of 21.79 billion yuan, a year-on-year increase of 16.7% and a quarter-on-quarter increase of 14.7%. The revenue guidance for Q4 indicates a year-on-year growth of 66% to 73%, reaching a historical high [10] - Guosheng Technology announced plans to acquire 100% equity of Fuyue Technology for 240.6 million yuan, with the target company primarily engaged in the research, production, and sales of high-precision new lithium battery components [10] - Huayou Cobalt announced a supply agreement for ultra-high nickel ternary cathode materials with Yiwei Lithium Energy, aiming to enhance its market share in lithium battery new energy materials [10] - Demingli announced plans to raise no more than 3.2 billion yuan for solid-state drives and memory product expansion projects [11] - Dayang Electric announced an investment of 10 million yuan to participate in an industrial fund, focusing on products related to embodied robots and mechanical arms [12] - Junting Hotel announced that its controlling shareholder is planning a change in company control, leading to a stock suspension [13] - Yidian Tianxia announced that its second-largest shareholder, Ningbo Zhongdianyi, has cumulatively reduced its holdings by 13.9712 million shares from October 28 to November 25 [14]

Core Viewpoint - The transfer of control from the founder's family to the Handan Municipal Government's State-owned Assets Supervision and Administration Commission is expected to bring new development momentum to the company, which has faced declining performance in recent years [7]. Group 1: Share Transfer Details - On November 24, the company's controlling shareholder, Chulin, signed a share transfer agreement to sell approximately 94.42 million shares at a price of 20.76 yuan per share, totaling 1.96 billion yuan [2]. - After the transfer, the new controlling shareholder will be the Chengxin Fund, which will hold about 29.90% of the company's total shares [2]. - The Chengxin Fund has committed not to transfer control for seven years and will not transfer its shares for 18 months after the transfer [2][3]. Group 2: Company Performance - New Asia Strong has experienced a decline in operating performance over the past three years, with total revenues of 1.134 billion yuan in 2022, 675 million yuan in 2023, and 721 million yuan in 2024, with 451 million yuan reported in the first three quarters of 2025 [4]. - The net profit attributable to shareholders has also decreased, from 302 million yuan in 2022 to 79 million yuan in the first three quarters of 2025, reflecting a significant drop in profitability [4]. - The company reported a 32.58% decline in net profit after deducting non-recurring items in the first three quarters of 2025, primarily due to a decrease in product gross margins [4]. Group 3: Strategic Adjustments - In response to market challenges, the company has undertaken strategic adjustments and operational management to enhance its resilience and capitalize on growth opportunities in sectors such as semiconductors, new energy, and personal care [5]. - The company aims to achieve significant growth in its electronic chemicals, functional additives, and specialty silicone materials businesses [5].