Group 1: Market Dynamics - As of November 3, 2025, there were 22 new private placement projects in the last two weeks, a 4.76% increase from the previous period[6] - The number of terminated projects rose to 16, marking a 45.45% increase[6] - The approval rate for projects remained at 100%, with 7 projects approved by the review committee, a decrease of 12.5%[6] Group 2: Fundraising and Participation - The total fundraising amount for 13 projects listed in the last two weeks reached 22.271 billion yuan, a 96.18% increase[25] - The average bid discount rate for competitive projects was 10.51%, up 2.45 percentage points[25] - The average premium rate for bids was 12.59%, reflecting a 2.05 percentage point increase[35] Group 3: Performance Analysis - The average absolute return on newly unlocked competitive projects was 27.65%, with an excess return of -11.23%[38] - The average market price discount rate for these projects was 10.99%, an increase of 5.76 percentage points[38] - The average individual stock return during the "issue-unlock" period was 12.34%, down 18.14% from the previous period[38] Group 4: Risk Factors - Risks include slower-than-expected review progress, stock price volatility in the secondary market, and changes in the pricing environment for private placements[6]

Group 1: Market Dynamics - As of November 3, 2025, there were 22 new private placement projects added, a 4.76% increase from the previous period, with 16 projects terminated, marking a 45.45% increase[5] - The approval rate for projects was 100%, with 7 projects approved by the review committee, a decrease of 12.5% from the previous period[16] - There are currently 622 projects in the normal review stage, with 57 projects having received approval and registration, remaining unchanged[5] Group 2: Fundraising and Participation - In the last two weeks, 13 private placement projects were listed, raising a total of 22.271 billion yuan, a 96.18% increase from the previous period[25] - The average bid discount rate for competitive projects rose to 10.51%, an increase of 2.45 percentage points[25] - The average application premium rate for competitive projects was 12.59%, up by 2.05 percentage points, with an average of 23 institutions participating in bids[36] Group 3: Unlocking Gains - Among the 5 competitive projects that were unlocked, the average absolute return was 27.65%, while the average excess return was -11.23%, both showing a decline from the previous period[39] - The average market price discount rate for unlocked projects was 10.99%, an increase of 5.76 percentage points[39] - The average industry beta contribution during the "issue-unlock" period was 29.81%, with the electronics sector seeing gains exceeding 50%[39] Group 4: Risk Factors - Risks include slower-than-expected review progress for private placements, fluctuations in secondary market stock prices, and changes in the pricing environment for private placements[2]

Core Points - The stock price of Zhongbei Communication (603220) increased by 0.3% to 23.49 yuan as of October 31, 2025, with a market capitalization of 10.201 billion yuan [1] - The number of shareholders decreased by 13.03% to 66,100 as of September 30, 2025, while the average shareholding increased to 6,571 shares [2][5] - For the first three quarters of 2025, the company reported a revenue of 2.317 billion yuan, a year-on-year increase of 5.05%, but a net profit attributable to shareholders of 85.0419 million yuan, a decline of 41.14% [3][5] - The company received approval from the China Securities Regulatory Commission on October 31, 2025, to issue shares to specific investors [4][5] Shareholder Changes - As of September 30, 2025, the number of shareholders was 66,100, a decrease of 9,899 from June 30, 2025, representing a reduction of 13.03% [2][5] - The average number of shares held per shareholder increased from 5,715 to 6,571 shares [2] Performance Disclosure - In the first three quarters of 2025, the company's main revenue was 2.317 billion yuan, up 5.05% year-on-year [3] - The net profit attributable to shareholders was 85.0419 million yuan, down 41.14% year-on-year [3] - The third quarter alone saw a revenue of 733 million yuan, a 5.66% increase year-on-year, but a net profit of 34.399 million yuan, down 12.04% year-on-year [3] Company Announcements - On October 31, 2025, the company received approval from the China Securities Regulatory Commission for its application to issue shares to specific investors, which must be completed within 12 months [4]

Core Points - Zhongbei Communication (603220) closed at 23.49 yuan on October 31, 2025, up 2.58% from the previous trading day, with a total market capitalization of 10.201 billion yuan [1] - The stock opened at 22.87 yuan, reached a high of 23.7 yuan, and a low of 22.81 yuan, with a trading volume of 334 million yuan and a turnover rate of 3.3% [1] Regulatory Approval - The company announced that it received approval from the China Securities Regulatory Commission (CSRC) for the registration of a stock issuance to specific investors [1] - The approval includes: 1) agreement to the company's application for stock issuance registration; 2) the issuance must strictly follow the submitted documents and issuance plan; 3) the approval is valid for 12 months from the date of consent; 4) the company must report any significant events to the Shanghai Stock Exchange before the issuance is completed [1] - Zhongbei Communication will proceed with the stock issuance in accordance with relevant laws, regulations, and shareholder meeting authorizations, and will fulfill information disclosure obligations in a timely manner [1]

Core Points - Zhongbei Communication has received approval from the China Securities Regulatory Commission for a stock issuance to specific investors, valid for 12 months from October 31, 2025 [2] Company Summary - The approval allows Zhongbei Communication to issue stocks according to the submitted documents and issuance plan to the Shanghai Stock Exchange [2] - The company is required to report any significant events to the Shanghai Stock Exchange from the date of approval until the completion of the issuance [2]

Core Viewpoint - Zhongbei Communication (603220.SH) has received approval from the China Securities Regulatory Commission for its application to issue stocks to specific investors [1] Group 1 - The approval was granted on October 31, 2025, under the document number 2411 [1]

Core Viewpoint - Zhongbei Communication (603220.SH) has received approval from the China Securities Regulatory Commission for a stock issuance to specific investors, which is valid for 12 months from the date of approval [1] Summary by Relevant Sections - **Approval Details** - The company has been granted permission to issue stocks to specific investors as per the approval document numbered 2411 [1] - The issuance must strictly follow the application documents submitted to the Shanghai Stock Exchange [1] - **Validity and Reporting Requirements** - The approval is valid for 12 months from the date of issuance [1] - The company is required to report any significant events to the Shanghai Stock Exchange from the date of approval until the completion of the stock issuance [1]

Core Points - Zhongbei Communication (603220.SH) has received approval from the China Securities Regulatory Commission for its application to issue stocks to specific investors [1] Group 1 - The company announced that it received the approval on October 31, 2025 [1] - The approval is documented in the official notice numbered 2411 from the China Securities Regulatory Commission [1] - The approval allows the company to proceed with the stock issuance to specific targets [1]

二、你公司本次发行应严格按照报送上海证券交易所的申报文件和发行方案 实施。 三、本批复自同意注册之日起12个月内有效。 | 证券代码：603220 | 证券简称：中贝通信 | 公告编号：2025-074 | | --- | --- | --- | | 债券代码：113678 | 债券简称：中贝转债 | | 中贝通信集团股份有限公司 关于向特定对象发行股票申请获得中国证券监督管 理委员会同意注册批复的公告 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。 中贝通信集团股份有限公司（以下简称"公司"）于2025年10月31日收到中 国证券监督管理委员会出具的《关于同意中贝通信集团股份有限公司向特定对象 发行股票注册的批复》（证监许可〔2025〕2411 号）。批复内容如下： "一、同意你公司向特定对象发行股票的注册申请。 四、自同意注册之日起至本次发行结束前，你公司如发生重大事项，应及时 报告上海证券交易所并按有关规定处理。" 公司将按照有关法律法规、批复要求及公司股东大会的授权，在规定期限内 办理本次向特定对象发行股票的相关事项， ...

Core Points - Zhongbei Communication has received approval from the China Securities Regulatory Commission for a specific stock issuance [1] - The approval is valid for 12 months from the date of registration [1] - The company must report any significant events to the Shanghai Stock Exchange before the issuance is completed [1] Summary by Categories - **Regulatory Approval** - Zhongbei Communication received the approval for stock issuance from the China Securities Regulatory Commission [1] - The approval is documented under the reference number 2411 and is valid for 12 months [1] - **Issuance Process** - The company is required to follow the submission documents and issuance plan as reported to the Shanghai Stock Exchange [1] - The company will handle the stock issuance matters within the specified timeframe according to legal regulations and shareholder authorization [1] - **Disclosure Obligations** - Zhongbei Communication must fulfill its information disclosure obligations in a timely manner [1] - Investors are advised to pay attention to investment risks associated with this issuance [1]