Core Viewpoint - JiuHua Tourism plans to raise up to 500 million yuan through a private placement to fund various projects, despite having substantial cash reserves and low debt levels, which has sparked market debate about the necessity of the fundraising [1][2]. Group 1: Financial Position - As of the end of 2024, JiuHua Tourism reported broad monetary funds of 205 million yuan and 252 million yuan in financial products within other current assets [1]. - By the end of Q1 2025, the company had monetary funds of 233 million yuan and interest-bearing liabilities of only 350,000 yuan, maintaining an asset-liability ratio of approximately 14% [1]. - The company has a history of utilizing idle funds for financial management and recently announced plans to use up to 450 million yuan of its own idle funds for cash management [1]. Group 2: Fundraising Purpose - The 500 million yuan raised will be allocated to projects including the Lion Peak cable car, hotel renovations, and transportation equipment upgrades at JiuHua Mountain [2]. - The current visitor distribution at JiuHua Mountain is uneven, with most tourists concentrated in the central area, while the northern and southern scenic spots lack adequate transportation facilities [2]. - The Lion Peak cable car aims to provide a quicker transportation option for visitors, reduce physical exertion before reaching major attractions, and enhance the overall visitor experience by connecting various scenic areas [2].

Group 1 - The tourism industry in China is undergoing a critical transformation, with listed companies accelerating capital operations to optimize resources and innovate business development [1][3] - Anhui Jiuhua Mountain Tourism Development Co., Ltd. plans to raise up to 500 million yuan for various projects, including the upgrade of the Jiuhua Mountain Scenic Area's transportation and hotel facilities [1] - Yunnan Tourism Co., Ltd. intends to raise up to 191 million yuan for the construction of the Chuzhou Overseas Chinese Town Cultural Tourism Equipment Industrial Park and other infrastructure projects [1][3] Group 2 - Changbai Mountain plans to raise up to 236 million yuan for the investment in the second phase of the Changbai Mountain Volcano Hot Spring Resort and transportation equipment enhancement projects [2] - The fundraising efforts of tourism companies are focused on high-end development and consumer demand, with projects aimed at enhancing product quality and core competitiveness [3] - The implementation of the Jiuhua Mountain Scenic Area's new cable car project is expected to increase visitor capacity and improve service experience, contributing to a 19.6% year-on-year increase in tourist numbers in the first quarter [3]

Group 1 - Weiling Co., Ltd. announced that its subsidiary Tianjin Changling Mining Partnership acquired 74.3% of Hunan Linwu Jiayu Mining Co., Ltd. for 220 million yuan, focusing on non-ferrous and black metal mining and smelting [1] - Zhongnong Lihua plans to acquire at least 50% of Taizhou Agricultural Materials Co., Ltd., which will become a subsidiary upon completion of the acquisition [1] - Chaohongji is planning to issue H-shares on the Hong Kong Stock Exchange, with details yet to be finalized [1][2] Group 2 - Hong Sifang's subsidiary plans to invest approximately 1.49 billion yuan in a new production base in Suizhou High-tech Industrial Development Zone [3] - Shangwei New Materials announced that its major shareholder Jin Feng Investment Holdings intends to reduce its stake by up to 3%, equating to 12.1 million shares [4] - Yihe Jiaye has changed its name to Beijing Ruimaite Medical Technology Co., Ltd., effective from May 21 [5][6] Group 3 - Huaxi Energy reported that its controlling shareholder has been detained and is under investigation, with no longer holding any positions in the company [7][8] - Aofei Entertainment plans to invest 10 million yuan in a partnership for equity investment in Shenzhen Xuanyuan Technology Co., Ltd. [9] - Hangzhou Electric plans to reduce its shares by up to 1.93%, equating to 13.36 million shares [10] Group 4 - Jiuhua Tourism intends to raise up to 500 million yuan through a private placement for various projects, including hotel renovations and transportation upgrades [11] - Dingxin Communications elected Liu Min as the new chairman following the resignation of Wang Jianhua [12] - Jiewate plans to acquire 40.89% of Nanjing Tianyi Hexin Electronics for 319 million yuan [13] Group 5 - Darui Electronics intends to acquire 80% of Dongguan Weisi Technology Co., Ltd. through cash purchase and capital increase [14] - Tianzhihang's shareholders plan to reduce their stakes by up to 3%, with each shareholder intending to sell 679,000 shares [15][16] - ST Shilong will lift its risk warning and change its stock name to Shilong Industrial, with trading limits adjusted from 5% to 10% [17] Group 6 - Ningde Times announced the listing of its H-shares on the Hong Kong Stock Exchange, raising approximately 35.33 billion HKD [19][20] - Mingyang Electric's shareholders plan to reduce their stakes by up to 3.01%, totaling 941,000 shares [21] - Bohai Leasing intends to transfer 100% of Global Sea Containers Ltd. for 1.75 billion USD, focusing on optimizing its debt structure [21]

Group 1 - Zhaoyi Innovation plans to issue H-shares and list on the Hong Kong Stock Exchange, considering the interests of existing shareholders and market conditions [3] - ST Zhongdi has decided to abandon the commercial opportunity for the Jiageng Ke Yi City land project, with the controlling shareholder planning to develop the project instead [4] - Xichang Electric Power expects a reduction of approximately 5.4 million yuan in net profit for 2025 due to adjustments in the time-of-use electricity pricing mechanism [5] Group 2 - Sanfu New Materials intends to invest 620 million yuan in a project for high-safety dry electrode battery key materials and high-frequency electronic information composite materials [6] - Weifu High-Tech's subsidiary plans to establish a joint venture with Baolong Technology to expand the active suspension motor hydraulic pump business [7] - Yulong Co., Ltd. will have its stock delisted on May 27, 2025, following a decision by the Shanghai Stock Exchange [8] Group 3 - Chen'an Technology's shareholder is transferring 6.27% of the company's shares to Hefei Guotou, aiming to introduce strategic investors [9] - Huamao Technology is planning to acquire a 100% stake in Fuchuang Youyue, with stock trading suspended for up to 10 trading days [11] - Baolong Technology's subsidiary will collaborate with Weifu High-Tech's subsidiary to develop core components for the active suspension system [12] Group 4 - Zhongnong Lihua intends to acquire at least 50% of Taizhou Agricultural Supplies, enhancing its product and service range [13] - Weiling Co., Ltd.'s subsidiary has successfully acquired 74.3% of Jiayu Mining for 220 million yuan, focusing on expanding into the non-ferrous metal resource sector [14][15] - Hengshi Technology's subsidiary has been approved for public transfer of shares on the New Third Board [16] Group 5 - Xiang Teng New Materials plans to acquire an additional 12.5% stake in its subsidiary Shanghai Shangda for 25.3 million yuan [17] - ST Texin has extended its employee stock ownership plan by 12 months, reflecting confidence in the company's long-term development [18] - Baili Electric has issued a risk warning regarding its stock price increase, indicating no significant changes in fundamentals [19] Group 6 - Hu Silicon Industry plans to acquire minority stakes in three semiconductor companies for approximately 7.04 billion yuan [20][21] - Demais plans to change its controlling shareholder, leading to a temporary suspension of stock trading [22] - FAW Fuwei has received a notice from a well-known new energy brand for a project expected to generate 1.06 billion yuan in total sales over its lifecycle [23] Group 7 - Hangyang Co. plans to establish a subsidiary for a large modular cryogenic equipment manufacturing project with an estimated investment of 557 million yuan [24] - Jiewate intends to acquire 40.89% of Tianyi Hexin for 319 million yuan, enhancing its product line in the signal chain category [25] - Dingxin Communications has elected a new chairman following the resignation of the previous chairman [26][27] Group 8 - Aofei Entertainment plans to invest 10 million yuan in a partnership to indirectly invest in AI robotics company Xuan Yuan Technology [28] - Huaxi Energy's controlling shareholder has been detained, but the company states that operations remain normal [29] - Yihe Jiaye will change its stock name to "Ruimaite" starting May 21 [30] Group 9 - Zhongjin Environment will change its name to "Southern Pump Industry" effective May 21 [31] - Hong Sifang's subsidiary plans to invest approximately 1.49 billion yuan in a new chemical materials and fertilizers industrial park [32] - Buchang Pharmaceutical's subsidiary has signed a research agreement for MF59 adjuvant with a pharmaceutical company [33] Group 10 - Hongjing Technology has signed a service contract worth 597 million yuan for a smart computing project [34] - Zhuojin Co. has won a bid for a soil remediation project worth 67.68 million yuan [35] - Xinjiang Jiaojian has been awarded a contract for a highway project valued at 451 million yuan [36] Group 11 - China National Materials Energy's subsidiary has signed a contract for an EPC project in Uzbekistan worth approximately 1.252 billion yuan [37] - Ruixin Microelectronics' shareholder plans to reduce its stake by up to 2% [38] - Shanghai Yizhong's shareholder also plans to reduce its stake by up to 2% [39] Group 12 - Sanyou Medical's controlling shareholder plans to reduce its stake by up to 1.44% [40] - Hangdian Co.'s controlling shareholder plans to reduce its stake by up to 1.93% [41] - Shangwei New Materials' shareholder plans to reduce its stake by up to 3% [42] Group 13 - Mingchen Health plans to repurchase shares worth between 30 million and 50 million yuan [43] - Jiuhua Tourism plans to raise up to 500 million yuan through a private placement for various projects [44] - Yuegui Co. plans to raise up to 900 million yuan for several projects [46]

Group 1 - The company, Anhui Jiuhuashan Tourism Development Co., Ltd., plans to issue A-shares to specific investors, including its controlling shareholder, Wenlv Group, with a maximum of 35 investors involved [2][17][18] - The total number of shares to be issued will not exceed 30% of the company's total share capital before the issuance, amounting to a maximum of 33,204,000 shares [2][19][21] - The funds raised from this issuance are expected to be no more than 500 million yuan, which will be allocated to various projects including the construction of a cable car at the Lion Peak scenic area and renovations of hotels [5][22][24] Group 2 - The issuance aims to enhance the company's capacity to receive tourists and improve service quality, aligning with national strategies to promote cultural and tourism integration as a pillar industry [11][15][16] - The tourism market is experiencing a recovery, with significant growth in domestic travel and spending, indicating a favorable environment for the company's expansion plans [12][13] - The company is positioned to benefit from improved transportation links, such as the opening of the Pihuang high-speed railway and the expansion of Jiuhuashan Airport, which will enhance its attractiveness to tourists [13][15] Group 3 - The company will utilize the raised funds for specific projects, including the Lion Peak cable car, hotel renovations, and transportation equipment upgrades, to enhance the overall tourist experience [5][22][24] - The Wenlv Group, as a major shareholder, will not participate in the pricing process of the share issuance but will accept the results of other investors' bids [5][20] - The shares acquired by Wenlv Group will be subject to a 36-month lock-up period, while other investors will face a 6-month lock-up period post-issuance [6][22]

Core Viewpoint - The report outlines the transfer of 16.2673 million shares (14.70% of total shares) of Anhui Jiuhua Mountain Tourism Development Co., Ltd. from Anhui Province High-tech Industry Investment Co., Ltd. to Anhui Investment Group Co., Ltd. as part of a resource optimization strategy [1][4]. Group 1: Share Transfer Details - The share transfer is a non-compensatory transfer approved by Anhui Investment Group, with no change in the actual controller of the company, which remains under the supervision of the Chizhou Municipal Government State-owned Assets Supervision and Administration Commission [4][5]. - The transfer will result in Anhui Province High-tech Industry Investment Co., Ltd. no longer holding any shares in Anhui Jiuhua Mountain Tourism Development Co., Ltd. [5][9]. Group 2: Regulatory Compliance - The report complies with the relevant laws and regulations, including the Company Law, Securities Law, and the Measures for the Administration of the Acquisition of Listed Companies [1][2]. - The transfer has been approved by the necessary authorities, and the report confirms that there are no undisclosed material facts or misleading statements [6][7]. Group 3: Future Plans - There are currently no plans for further share acquisition or disposal by the information disclosure obligor within the next 12 months [5][9]. - The report indicates that there have been no stock transactions involving Anhui Jiuhua Mountain Tourism Development Co., Ltd. by the information disclosure obligor in the past six months [6][9].

Core Points - The announcement details a transfer of 16,267,338 shares of Jiuhua Tourism, representing 14.70% of the total share capital, from Anhui High-tech Industry Investment Co., Ltd. to Anhui Investment Group Holding Co., Ltd. [1][2] - This transfer is classified as a state-owned share transfer without compensation, which will not trigger a tender offer and will not change the controlling shareholder or actual controller of the company [1][2] - The transfer has completed internal approval processes but still requires registration with the China Securities Depository and Clearing Corporation Limited, Shanghai Branch, indicating some uncertainty regarding final implementation [1][2] Summary of the Shareholders - Before the transfer, Anhui High-tech Industry Investment Co., Ltd. held 16,267,338 shares (14.70%), while Anhui Investment Group Holding Co., Ltd. held no shares [2] - After the transfer, Anhui High-tech Industry Investment Co., Ltd. will hold 0 shares, and Anhui Investment Group Holding Co., Ltd. will hold 16,267,338 shares (14.70%) [2] Basic Information of the Parties Involved - **Anhui High-tech Industry Investment Co., Ltd.**: Located in Hefei, with a registered capital of 1 billion yuan, primarily engaged in high-tech industry investment and related businesses [3][4] - **Anhui Investment Group Holding Co., Ltd.**: Also based in Hefei, with a registered capital of 6 billion yuan, focusing on capital operation and management of provincial construction funds [4][5] Agreement Details - The agreement specifies that the transfer of shares will occur after necessary approvals and registration are completed, with both parties agreeing to cooperate in the process [4][5] - Any disputes arising from the agreement will first be attempted to be resolved through negotiation, failing which legal action may be taken [5] Subsequent Matters - The transfer will not affect the company's daily operations or lead to changes in the controlling shareholder or actual controller [2][5] - Both parties are required to prepare simplified reports on the equity changes and disclose them in accordance with regulatory requirements [5]

Core Viewpoint - The report outlines the transfer of 16.2673 million shares (14.70% of total shares) of Anhui Jiuhua Mountain Tourism Development Co., Ltd. from its wholly-owned subsidiary, Anhui High-tech Industry Investment Co., Ltd., to Anhui Provincial Investment Group Co., Ltd. This transfer is a non-compensatory action aimed at optimizing resource allocation and enhancing management oversight of Jiuhua Tourism [1][5][7]. Group 1: Shareholding Changes - The shareholding change involves Anhui Provincial Investment Group directly holding 16.2673 million shares of Jiuhua Tourism, maintaining a 14.70% stake post-transfer [1][7]. - The transfer of shares has been approved by Anhui Provincial Investment Group and does not alter the actual controller of Jiuhua Tourism, which remains the State-owned Assets Supervision and Administration Commission of the Anhui Provincial Government [1][7]. Group 2: Purpose and Method of Transfer - The purpose of the share transfer is to further optimize resource allocation and strengthen the overall management of Jiuhua Tourism [5][7]. - The transfer is executed through a non-compensatory agreement, with no financial transactions involved, and is subject to necessary approvals and registration procedures [7][8]. Group 3: Regulatory Compliance - The report complies with the relevant laws and regulations, including the Company Law and Securities Law of the People's Republic of China, ensuring that all disclosures are accurate and complete [1][5]. - The report confirms that there are no restrictions or special clauses associated with the transferred shares, and no plans for further share purchases or disposals within the next 12 months [6][8].

公司董事会同意提请股东会批准：公司控股股东文旅集团免于发出要约。本 次事项涉及关联交易，关联董事已回避表决，独立董事已召开专门会议对相关议 案进行了审核，尚需股东会审议通过，关联股东对相关议案将回避表决。 若中国证监会、上海证券交易所对于免于要约收购的相关政策有不同安排或 变化的，则按照中国证监会、上海证券交易所的最新政策安排或变化执行。 特此公告。 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、准确性和完整性依法承担法律责任。 安徽九华山旅游发展股份有限公司董事会 证券代码：603199 股票简称：九华旅游 公告编号：临 2025-025 安徽九华山旅游发展股份有限公司 根据《上市公司收购管理办法》第六十三条第（三）项"经上市公司股东大 会非关联股东批准，投资者取得上市公司向其发行的新股，导致其在该公司拥有 权益的股份超过该公司已发行股份的 30%，投资者承诺 3 年内不转让本次向其发 行的新股，且公司股东大会同意投资者免于发出要约"的规定，投资者符合该情 形的，可以免于发出要约。 关于提请股东会批准安徽九华山文旅康养集团有限 公司免于发出要约的公告 ...

Core Viewpoint - Anhui Jiuhua Mountain Tourism Development Co., Ltd. has established a shareholder dividend return plan for the next three years (2025-2027) to ensure reasonable returns for investors while considering the company's long-term sustainable development [1][2]. Group 1: Principles and Considerations - The plan is based on legal regulations and aims to balance investor returns with the company's long-term interests and sustainable development [1]. - Factors considered in the planning include the company's operational status, development goals, shareholder expectations, cash flow, profitability, and external financing environment [1][2]. Group 2: Specific Dividend Return Plan - The company will implement a stable profit distribution policy, prioritizing cash dividends when conditions allow [2][4]. - Cash dividends will be distributed at least 20% of the distributable profits each year, with higher percentages based on the company's development stage and financial needs [4][5]. - The company will maintain a minimum cash dividend ratio of 20% during its growth phase, with potential adjustments as it matures [4][5]. Group 3: Decision-Making Process - The annual profit distribution plan will be proposed by the board of directors and requires majority approval from the board and shareholders [5][6]. - The audit committee will review the profit distribution proposals and ensure compliance with regulations [5][6]. - The company will actively communicate with shareholders, especially minority shareholders, to gather feedback on dividend proposals [5][6]. Group 4: Policy Review and Disclosure - The dividend policy will be reviewed at least every three years, with adjustments made based on company conditions and shareholder feedback [6][7]. - The company is required to disclose the cash dividend policy and its execution in the annual report, ensuring transparency and protection of shareholder rights [6][7].