Group 1: Metal Sector - Zijin Mining's net profit forecast for 2025 is 475 million CNY, with a PE ratio of 15.46[12] - Luoyang Molybdenum's net profit forecast for 2025 is 168.65 million CNY, with a PE ratio of 17.35[12] - The copper production of Zijin Mining is expected to increase by 7% to 115,000 tons in 2025[20] Group 2: Chemical Sector - Wanhua Chemical's net profit forecast for 2025 is 141.75 million CNY, with a PE ratio of 0.00[12] - Longbai Group's net profit forecast for 2025 is 23.01 million CNY, with a PE ratio of 19.75[12] - The MDI market is expected to improve as supply and demand conditions stabilize[48] Group 3: Transportation Sector - China Merchants Highway's net profit forecast for 2025 is 55.01 million CNY, with a PE ratio of 12.10[12] - Haitong Development's net profit forecast for 2025 is 4.43 million CNY, with a PE ratio of 18.87[12] Group 4: Construction Sector - Sichuan Road and Bridge's net profit forecast for 2025 is 82.86 million CNY, with a PE ratio of 8.79[12] - Honglu Steel Structure's net profit forecast for 2025 is 7.96 million CNY, with a PE ratio of 15.35[12]

Group 1 - Dongxing Medical plans to acquire 90% equity of Wuhan Yijiaobao for cash, which is expected to constitute a major asset restructuring [1] - Fosun Pharma's subsidiary plans to transfer 100% equity of Shanghai Cloning, with a transaction value of up to 1.256 billion yuan [1] Group 2 - *ST Songfa's subsidiary signed a shipbuilding contract worth approximately 400-600 million USD for four VLCCs, expected delivery between late 2026 and mid-2027 [3] - Qibin Group obtained financing support of up to 90 million yuan for share repurchase [4] Group 3 - Shapuaisi's shareholder plans to reduce holdings by up to 3% of the company's total shares [5] - *ST Kaixin intends to use up to 310 million yuan for cash management in safe and liquid financial products [6] Group 4 - Junchen Technology's shareholders plan to transfer 2.5% of the company's shares due to personal funding needs [7] - Jingliang Holdings received an administrative regulatory measure from Hainan Securities Regulatory Bureau for improper revenue recognition involving 299 million yuan [7] Group 5 - Tongcheng Holdings received a cash dividend of 24.6643 million yuan from Changsha Bank [9] - Shenyang Chemical appointed Chen Liguo as the new general manager [10] Group 6 - Huaguang Huaneng signed a contract for a 160 million yuan waste heat boiler project [15] - Shuxian Valley's subsidiary completed the re-registration of a health food product [16] Group 7 - Xuanta Pharmaceutical's new specification for a diabetes treatment drug was approved [17] - Panlong Pharmaceutical's application for a pain relief gel patch was accepted by the drug regulatory authority [18] Group 8 - Zhiguang Electric's subsidiary won a procurement contract worth 164 million yuan for a storage system [19] - Chitianhua's production facility resumed operations after maintenance [20] Group 9 - Haitong Development's application for a specific A-share issuance was accepted by the Shanghai Stock Exchange, aiming to raise 210 million yuan [20] - Risheng Technology's shareholders plan to transfer 4.02% of the company's shares [33] Group 10 - Pingmei Shares' controlling shareholder plans a strategic restructuring with Henan Energy Group [35] - Shenghui Integration's controlling shareholder committed not to reduce shareholdings for 12 months [37] Group 11 - Agricultural Bank and Bank of China will no longer establish supervisory boards, with their functions transferred to the audit committees [39][40] - Dongfang Yuhong's subsidiary signed a contract for a seawater pipeline project worth 2.524 billion USD [40][41] Group 12 - Ganfeng Lithium plans to introduce investors for a capital increase of up to 2.5 billion yuan [50] - Hanyu Pharmaceutical intends to raise up to 968 million yuan for various projects [51]

证券简称：海通发展 证券代码：603162 福建海通发展股份有限公司 Fujian Highton Development Co., Ltd. （平潭综合实验区金井湾商务营运中心 3 号楼 17 层 1705-2 室） 2025 年度向特定对象发行 A 股股票 募集说明书 （申报稿） 保荐人（主承销商） （广东省深圳市福田区中心三路 8 号卓越时代广场（二期）北座） 二〇二五年九月 福建海通发展股份有限公司 募集说明书 福建海通发展股份有限公司 募集说明书 声 明 本公司及全体董事、高级管理人员承诺募集说明书内容真实、准确、完整， 不存在虚假记载、误导性陈述或重大遗漏，按照诚信原则履行承诺，并承担相应 的法律责任。 公司负责人、主管会计工作负责人及会计机构负责人保证募集说明书中财务 会计资料真实、完整。 中国证券监督管理委员会、上海证券交易所对本次发行所作的任何决定或意 见，均不表明其对申请文件及所披露信息的真实性、准确性、完整性作出保证， 也不表明其对发行人的盈利能力、投资价值或者对投资者的收益作出实质性判断 或保证。任何与之相反的声明均属虚假不实陈述。 1-1-1 福建海通发展股份有限公司 募集说明书 重 ...

证券代码：603162 证券简称：海通发展 公告编号：2025-107 福建海通发展股份有限公司 福建海通发展股份有限公司（以下简称"公司"）于 2025 年 9 月 25 日收到 上海证券交易所（以下简称"上交所"）出具的《关于受理福建海通发展股份有 限公司沪市主板上市公司发行证券申请的通知》（上证上审（再融资）〔2025〕 285 号）。上交所依据相关规定对公司报送的沪市主板上市公司发行证券的募集 说明书及相关申请文件进行了核对，认为该项申请文件齐备，符合法定形式，决 定予以受理并依法进行审核。 公司本次向特定对象发行 A 股股票事项尚需通过上交所审核，并获得中国 证券监督管理委员会（以下简称"中国证监会"）做出同意注册的决定后方可实 施，最终能否通过上交所审核，并获得中国证监会同意注册的决定及其时间尚存 在不确定性。公司将根据该事项的进展情况及时履行信息披露义务，敬请广大投 资者注意投资风险。 特此公告。 福建海通发展股份有限公司董事会 2025 年 9 月 27 日 1 关于 2025 年度向特定对象发行 A 股股票申请 获得上海证券交易所受理的公告 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 ...

6-1-1 | | | | 审计报告 | 1-6 | | --- | --- | | 合并及公司资产负债表 | 1-2 | | 合并及公司利润表 | 3 | | 合并及公司现金流量表 | 4 | | 合并及公司股东权益变动表 | 5-8 | | 财务报表附注 | 9-82 | 6-1-2 6-1-3 6-1-4 6-1-5 6-1-6 6-1-7 6-1-8 | | | 2024年12月31日 | | | | | --- | --- | --- | --- | --- | --- | | 编制单位:福建海通发展股份有限公司 | | | | | 单位:人民币元 | | 项目 | | 期末余额 | | 上年年末余额 | | | | | | 公司 | 合并 | 公司 | | 流动资产: | | | | | | | 货币资金 | | 550,361,893.14 | 59,697,541,84 | 639,730,266.72 | 51,643,152.14 | | 交易性金融资产 | | 91,756,962.32 | 91,756,962.32 | 504,413,882.08 | 504,413,882.08 ...

中信证券股份有限公司 关于 福建海通发展股份有限公司 2025 年度向特定对象发行 A 股股票 广东省深圳市福田区中心三路 8 号卓越时代广场（二期）北座 二〇二五年九月 福建海通发展股份有限公司 上市保荐书 声 明 中信证券股份有限公司（以下简称"中信证券""保荐人"）接受福建海通 发展股份有限公司（以下简称"海通发展""发行人"或"公司"）的委托，担 任福建海通发展股份有限公司 2025 年度向特定对象发行 A 股股票的保荐人。 保荐人及其保荐代表人已根据《中华人民共和国公司法》（以下简称"《公 司法》"）、《中华人民共和国证券法》（以下简称"《证券法》"）等法律法 规和中国证券监督管理委员会（以下简称"中国证监会"）、上海证券交易所的 有关规定，诚实守信，勤勉尽责，严格按照依法制定的业务规则和行业自律规范 出具上市保荐书，并保证所出具文件真实、准确、完整。若因保荐人为发行人本 次发行制作、出具的文件有虚假记载、误导性陈述或者重大遗漏，给投资者造成 损失的，保荐人将依法赔偿投资者损失。 在本上市保荐书中，除上下文另有所指，释义与《福建海通发展股份有限公 司 2025 年度向特定对象发行 A 股股票募集说明 ...

中信证券股份有限公司 关于 福建海通发展股份有限公司 2025 年度向特定对象发行 A 股股票 之 发行保荐书 广东省深圳市福田区中心三路 8 号卓越时代广场（二期）北座 二〇二五年九月 福建海通发展股份有限公司 发行保荐书 声 明 中信证券股份有限公司接受福建海通发展股份有限公司的委托，担任福建海 通发展股份有限公司 2025 年度向特定对象发行 A 股股票的保荐人，为本次发行 出具发行保荐书。 保荐人及指定的保荐代表人根据《中华人民共和国公司法》《中华人民共和 国证券法》《上市公司证券发行注册管理办法》《证券发行上市保荐业务管理办 法》等有关法律、法规和中国证券监督管理委员会、上海证券交易所的有关规定， 诚实守信，勤勉尽责，严格按照依法制订的业务规则、行业执业规范和道德准则 出具发行保荐书，并保证所出具文件的真实性、准确性和完整性。若因保荐人为 发行人本次发行制作、出具的文件有虚假记载、误导性陈述或者重大遗漏，给投 资者造成损失的，保荐人将依法赔偿投资者损失。 本文件中所有简称和释义，如无特别说明，均与《福建海通发展股份有限公 司 2025 年度向特定对象发行 A 股股票募集说明书》一致。 3-1-1 | ...

福建天衡联合律师事务所 关于福建海通发展股份有限公司 2025 年度向特定对象发行 A 股股票的 法律意见书 | | | | | | 福建天衡联合律师事务所 关于福建海通发展股份有限公司 2025 年度向特定对象发行 A 股股票的 法律意见书 〔2025〕天衡福非字 0108-06 号 致：福建海通发展股份有限公司 福建天衡联合律师事务所接受福建海通发展股份有限公司的委托，指派林晖律 师、陈韵律师和陈张达律师，担任福建海通发展股份有限公司 2025 年度向特定对 象发行 A 股股票事项的专项法律顾问。 根据《中华人民共和国公司法》《中华人民共和国证券法》《上市公司证券发行 注册管理办法》《律师事务所从事证券法律业务管理办法》《律师事务所证券法律业 务执业规则（试行）》《公开发行证券公司信息披露的编报规则第 12 号—公开发行 证券的法律意见书和律师工作报告》等法律、法规和中国证券监督管理委员会的有 关规定，按照律师行业公认的业务标准、道德规范和勤勉尽责精神，天衡律师现就 福建海通发展股份有限公司 2025 年度向特定对象发行 A 股股票事项出具本法律意 见书。 4-1-1 法律意见书 引 言 一、释义 在本法 ...

9月25日，海通发展（603162）向特定对象发行股票申请获上交所受理。本次拟发行数量不超过3000万 股，预计募集资金2.10亿元。本次发行保荐机构为中信证券股份有限公司。（数据宝） ...

Summary of Haitong Development Conference Call Company Overview - Haitong Development is a leading dry bulk shipping company in China, controlling nearly 5 million deadweight tons of capacity, ranking high in global ultra-flexible vessel capacity [2][4] - The company has expanded from domestic to international trade since its establishment in 2009 and has been listed on the Shanghai Stock Exchange since March 2023 [4] Industry Insights - The dry bulk shipping market includes the transportation of commodities such as iron ore, coal, and grain, with vessel types categorized by size [4] - The Baltic Dry Index (BDI) experienced significant fluctuations due to external factors like U.S. tariffs, Australian hurricanes, and Brazilian rainfall, leading to a substantial decline in the first half of 2025 [2][5] - Since June, the BDI has rebounded to around 2000, a year-on-year increase of over 10%, driven by increased shipments from Australian and Brazilian mines and seasonal demand for coal [2][5][6] Key Points and Arguments - The company has implemented measures such as route selection, flexible capacity allocation, and concentrated repairs to mitigate the impact of market volatility [5] - Future quarters are expected to benefit from the Federal Reserve's interest rate cuts and an upstream mining production cycle, which will positively influence dry bulk shipping demand [7] - The West Simandou project is anticipated to provide a stable growth point, with initial shipments expected before the Double Eleven shopping festival [7][8] Supply and Demand Dynamics - The current dry bulk fleet is aging, with a historically low number of orders, creating a tight supply situation that favors existing operators [9][10] - The average age of vessels is around 15 years, with about 30% being over 15 years old, which could lead to significant industry changes if older vessels are retired [10] Future Plans - The company plans to expand its fleet to 100 vessels by 2028-2029, primarily through self-funding and bank loans, while also purchasing second-hand vessels for cost efficiency [3][14] - The company has established a marketing department to strengthen ties with upstream miners and has signed a strategic cooperation agreement with Xiamen Xiangyu to explore business opportunities [8][24] Environmental Considerations - The company is adapting to stricter environmental regulations, with measures in place to manage carbon emissions and improve compliance ratings [12] - The impact of carbon emission regulations is manageable, as costs can be passed on to charterers [12] Financial Outlook - The company expects improved profitability in the second half of the year, with high freight rates anticipated to persist [13] - Despite a significant decline in performance in the first half due to lower rates and repair costs, the outlook for the third and fourth quarters remains optimistic [13] Market Positioning - The company is focusing on its core dry bulk shipping business and does not plan to diversify into container or cruise shipping sectors [21] - The recent addition of three oil tankers is aimed at supporting internal trade operations, with limited impact on overall performance [22] Conclusion - Haitong Development is well-positioned in the dry bulk shipping market, with strategic plans for fleet expansion and partnerships that leverage market opportunities while navigating environmental challenges and fluctuating demand dynamics [2][7][8][13]