Core Viewpoint - The article discusses the recent stock trading activities and financial situations of *ST Zhengping and Tianpu Co., highlighting significant price fluctuations and the associated risks of both companies [1][3][5]. Group 1: *ST Zhengping - *ST Zhengping experienced a cumulative increase of 101.86% from September 1 to September 30, with 15 trading days of price limits and 4 instances of abnormal fluctuations [1]. - The company announced that it would resume trading on October 16, 2025, after completing a stock trading review [3]. - The company received a mining permit on September 17, but faces significant uncertainties regarding future mining operations due to insufficient funds, personnel, and equipment [3]. - As of June 30, 2025, the company had cash assets of 102 million yuan, with 81.66 million yuan restricted due to various factors, and a debt-to-asset ratio of 92.22% [3]. - The company reported a revenue of 344 million yuan for the first half of 2025, a year-on-year decrease of 37.77%, and a net profit of -88 million yuan, down 12.4% [4]. - The company's price-to-earnings ratio is currently negative, and its price-to-book ratio is 13.19, significantly higher than the industry averages of 8.09 and 1.91, respectively [5]. Group 2: Tianpu Co. - Tianpu Co. also announced the completion of its stock trading review and plans to resume trading on October 16, 2025, after experiencing a 317.72% increase over 15 consecutive trading days [5]. - The company highlighted risks related to potential changes in control, stock distribution issues, and significant deviations from industry averages in terms of price-to-earnings and price-to-book ratios [7]. - The acquiring party, Zhonghao Xinying, is currently undergoing an independent IPO process, which is unrelated to the acquisition of Tianpu Co. [7].

Core Viewpoint - Tianpu Co., Ltd. announced that its stock will resume trading on October 16 after completing an investigation into abnormal trading fluctuations, which had resulted in a significant price increase and trading risks [1][2]. Group 1: Stock Trading and Price Fluctuations - Tianpu's stock price experienced a continuous rise, hitting the daily limit for 15 consecutive trading days from August 22 to September 23, resulting in a total increase of 317.72% [3]. - The company highlighted that the stock price has deviated significantly from its fundamental value, indicating a risk of a sharp decline at any moment [3]. - The relatively small external circulation of shares raises concerns about irrational speculation [3]. Group 2: Acquisition and Compliance - The acquiring party, Zhonghao Xinying, has initiated its independent IPO process and is currently in the stage of shareholding reform [5]. - The acquisition aims to maintain Tianpu's listing status, but if public shareholders hold less than 25% of the total share capital upon the offer's expiration, Tianpu may face risks regarding its stock distribution not meeting listing requirements [5]. - The share transfer is subject to compliance confirmation from the Shanghai Stock Exchange and other necessary approvals, which carry a degree of uncertainty regarding their approval process and timing [5].

Core Viewpoint - The company, Tianpu Co., announced that its stock will resume trading on October 16 after completing an investigation into abnormal trading fluctuations, which had led to a significant price increase and associated risks [1][2]. Group 1: Stock Trading and Price Fluctuations - Tianpu Co.'s stock price experienced a continuous increase, hitting the daily limit for 15 consecutive trading days from August 22 to September 23, resulting in a total rise of 317.72% [3]. - The company highlighted that the stock price had deviated significantly from its fundamental value, indicating a risk of a sharp decline at any moment [3]. - The external circulation of shares is relatively small, which raises concerns about irrational speculation [3]. Group 2: Acquisition and Compliance - The acquiring party, Zhonghao Xinying, has initiated the process for its independent initial public offering (IPO) and is currently undergoing a restructuring phase [5]. - The acquisition does not involve any asset injection plans, and the acquiring party aims to maintain Tianpu Co.'s listing status [5]. - If the proportion of public shareholders falls below 25% of the total share capital upon the completion of the offer, Tianpu Co. may face risks related to its listing conditions [5]. - The share transfer is subject to compliance confirmation from the Shanghai Stock Exchange and must undergo registration procedures with the China Securities Depository and Clearing Corporation, introducing uncertainty regarding the approval process and timeline [5].

Group 1 - *ST Zhengping experienced a cumulative increase of 101.86% from September 1 to September 30, with 15 trading days of price limits and 4 instances of abnormal fluctuations, leading to a trading suspension on October 9 [1][3] - The company announced that it will resume trading on October 16, 2025, after completing a stock trading review [3] - As of June 30, 2025, the company had cash funds of 102 million yuan, with 81.6642 million yuan restricted due to various factors, and a debt-to-asset ratio of 92.22% [3][4] Group 2 - In the first half of 2025, *ST Zhengping reported an operating income of 344 million yuan, a year-on-year decrease of 37.77%, and a net profit attributable to shareholders of -88 million yuan, a decline of 12.4% [4] - The company's price-to-earnings ratio is currently negative, while its price-to-book ratio stands at 13.19, significantly higher than the industry averages of 8.09 and 1.91, respectively [4] - The company faces risks including potential delisting, insufficient mining capacity, unresolved non-operating fund occupation, continuous losses, and trading risks in the secondary market [4] Group 3 - Tianpu Co., Ltd. also announced on October 15 that it completed a review of its stock trading anomalies and will resume trading on October 16, 2025 [4][5] - The company's stock price increased by 317.72% from August 22 to September 23, leading to a trading suspension on September 24 due to significant trading risks [5] - Tianpu Co., Ltd. highlighted risks related to control changes, potential non-compliance with listing conditions, and its price-to-earnings and price-to-book ratios being significantly above industry averages [7]

Group 1 - The company Tianpu Co., Ltd. (605255.SH) announced that it has completed the investigation regarding abnormal stock trading fluctuations and will resume trading on October 16, 2025 [1] - There are market rumors regarding the relationship between Zhonghao Xinying (Hangzhou) Technology Co., Ltd.'s existing capital securitization path and the acquisition of the listed company, which the company confirmed is unrelated [1] - Zhonghao Xinying has initiated its independent initial public offering (IPO) process and is currently in the stage of shareholding reform [1]

市场传言，中昊芯英(杭州)科技有限公司自身现有资本证券化路径与本次收购上市公司相关。经公司再 次与收购方中昊芯英确认，截至本公告日，收购方中昊芯英自身现有资本证券化路径与本次收购上市公 司无关。收购方中昊芯英已启动独立自主的首次公开发行股票(IPO)相关工作，现已进入股份制改制(股 改)过程阶段。收购方中昊芯英自身现有资本证券化路径与本次收购上市公司无关。 天普股份（605255）(605255.SH)发布公告，近期，公司就股票交易异常波动及严重异常波动的相关事 项进行了核查。鉴于相关核查工作已完成，经公司向上海证券交易所申请，公司股票将于2025年10月16 日(星期四)开市起复牌。 ...

Macro Dynamics - The central bank reported that as of the end of September, the broad money supply (M2) reached 335.38 trillion yuan, with a year-on-year growth of 8.4% [2] - The narrow money supply (M1) was 113.15 trillion yuan, growing by 7.2% year-on-year [2] - The currency in circulation (M0) amounted to 13.58 trillion yuan, with an 11.5% year-on-year increase [2] - A net cash injection of 761.9 billion yuan occurred in the first three quarters [2] Industry Policies - The National Development and Reform Commission issued a "Three-Year Doubling Action Plan for Electric Vehicle Charging Facility Service Capacity (2025-2027)" aiming to enhance the electric vehicle charging infrastructure [3] - By the end of 2027, the plan targets the establishment of 28 million charging facilities nationwide, providing over 300 million kilowatts of public charging capacity to meet the charging needs of over 80 million electric vehicles [3] Taxation and Manufacturing - The State Taxation Administration reported that in the first eight months of the year, the manufacturing sector benefited from tax reductions and refunds totaling approximately 1.3 trillion yuan [4] - In the first three quarters, manufacturing sales revenue increased by 4.7% year-on-year, accounting for a significant portion of national enterprise sales [4] Company Developments - Zheshang Securities announced the nomination of Qian Wenhai as the new chairman due to the retirement of Wu Chenggen [6] - The Bank of Communications plans to redeem 2.8 billion USD of perpetual capital bonds on November 18, 2025, after receiving necessary approvals [7] - JD.com is set to launch a new electric vehicle priced between 100,000 to 120,000 yuan, in collaboration with GAC Aion and CATL, during the Double Eleven shopping festival [11] - Tianpu Co., Ltd. will resume trading on October 16, 2025, after completing a suspension for review due to significant stock price fluctuations [12][13] - Haiguang Information reported a third-quarter net profit of 760 million yuan, reflecting a year-on-year growth of 13% [15] - DHL plans to invest 300 million euros to expand its operations in Africa, including the establishment of new aircraft, warehouses, and distribution centers [17]

Reinstatement - Tianpu Co., Ltd. has completed the suspension review and will resume trading [1] - Delixi Co., Ltd. has changed its controlling shareholder to Xinjiang Bingxin Jian Partnership and will resume trading tomorrow [1] Private Placement - Junpu Intelligent plans to raise no more than 1.161 billion yuan for smart robot research and industrialization projects [2] - Digital Zhengtong plans to raise no more than 1.05 billion yuan for the construction of a city lifeline operation management service platform [3] Shareholding Changes - Hengmingda's chairman proposed a share buyback plan of 200 million to 400 million yuan for employee stock ownership plans or equity incentives [4] - Hainan Huatie's second largest shareholder has completed the plan to increase its stake, accumulating 6.448 million shares [5] - BGI Jiutian's major fund reduced its holdings by 2.7147 million shares from September 15 to October 15, and the reduction plan has been completed [6] Daily Operations and External Investments - Zhongtai Automobile's controlling shareholder has changed from Jiangsu Shenshang to no controlling shareholder [7] - Baili Tianheng's innovative drug T-Bren for HER2-positive locally advanced or metastatic gastric or gastroesophageal junction adenocarcinoma has completed the first subject enrollment in Phase III clinical trials [7] - Guizhou Bailing's wholly-owned subsidiary has received approval for clinical trials of the new traditional Chinese medicine Tangning Tongluo tablets for type 2 diabetes [7] - Dingsheng Technology plans to collaborate strategically with Boyuan Co., Ltd. in the development of solid-state lithium battery materials [8][9] - Mingxin Xuteng has received a designated notification from a leading new energy vehicle customer, with an expected total sales amount of approximately 650 million yuan over its lifecycle [10] - China Ruilin plans to participate in the establishment of Jiangtong Mining Fund, focusing on rare metal projects such as tungsten and rare earths [10] - Jinkai New Energy's Jinkai Zhihui plans to introduce strategic investors, expecting an investment return of 108 million yuan [11] - Mankun Technology plans to issue convertible bonds to raise no more than 760 million yuan for a high-end printed circuit board production base project in Thailand and for smart and digital upgrades [11] - Tianwei Video has been authorized to establish the "State-owned Assets and State-owned Enterprises Online Supervision Safety Operation (Shenzhen) Sub-center" [11] Performance Changes - Tailin Microelectronics reported a net profit of 140 million yuan for the first three quarters, a year-on-year increase of 118%, as new AI chip products enter mass production [12] - Guanghua Technology's net profit for the third quarter was 34.1257 million yuan, a year-on-year increase of 962.19% [13] - Haiguang Information reported a third-quarter net profit of 760 million yuan, a year-on-year increase of 13%, and a net profit of 1.961 billion yuan for the first three quarters, a year-on-year increase of 28.56% [14] - Zhongke Shuguang reported a net profit of 955 million yuan for the first three quarters, a year-on-year increase of 24%, driven by optimized product structure and enhanced operational efficiency [15] - Hesheng New Materials expects a net profit of 137 million to 154 million yuan for the first three quarters, a year-on-year increase of 60% to 80% [15]

天普股份表示，公司股票价格自8月22日至9月23日连续15个交易日涨停，累计上涨317.72%，期间已累 积巨大交易风险，目前公司股价已严重偏离公司基本面，存在随时急剧下跌的风险。经公司与收购方中 昊芯英再次确认，截至目前，收购方中昊芯英已启动独立自主的首次公开发行股票（IPO）相关工作， 现已进入股份制改制（股改）过程阶段。收购方中昊芯英自身现有资本证券化路径与本次收购上市公司 无关。此外，收购方中昊芯英无资产注入计划。 （文章来源：北京商报） 北京商报讯10月15日晚间，天普股份（605255）披露公告称，近期，公司就股票交易异常波动及严重异 常波动的相关事项进行了核查。鉴于相关核查工作已完成，经申请，公司股票将于10月16日开市起复 牌。 ...

收购方中昊芯英自身现有资本证券化路径与本次收购上市公司无关。经公司与收购方中昊芯英再次确 认，截至目前，收购方中昊芯英已启动独立自主的首次公开发行股票（IPO）相关工作，现已进入股份 制改制（股改）过程阶段。收购方中昊芯英自身现有资本证券化路径与本次收购上市公司无关。敬请广 大投资者注意上述相关信息对二级市场交易的风险。近期，公司就股票交易异常波动及严重异常波动的 相关事项进行了核查。鉴于相关核查工作已完成，经公司向上海证券交易所申请，公司股票将于2025年 10月16日（星期四）开市起复牌。 格隆汇10月15日丨天普股份(605255.SH)公布，收购方中昊芯英无资产注入计划。经公司与收购方中昊 芯英再次确认，收购方没有在未来12个月内改变上市公司主营业务或者对上市公司主营业务做出重大调 整的明确计划；没有在未来12个月内对上市公司及其子公司的资产和业务进行出售、合并、与他人合资 或合作的明确计划，或上市公司拟购买或置换资产的明确重组计划。敬请广大投资者注意上述相关信息 对二级市场交易的风险。 ...