Mergers and Acquisitions - Changrong Co., Ltd. plans to acquire 100% equity of Enchi New Energy from Enhui New Energy for a consideration of 0 yuan, followed by a capital increase of 60 million yuan for a 100,000 kW photovoltaic power generation project in Yongchang County [1] - Zaiseng Technology has terminated its cash acquisition plan for 49% equity of Maikelong due to lack of substantial progress and to protect the interests of the company and its shareholders [2] Shareholding Changes - Yongding Co., Ltd.'s controlling shareholder, Yongding Group, intends to reduce its shareholding by up to 4,385,970 shares, representing no more than 3% of the total share capital [3] - Xinhang New Materials' controlling shareholder, Qin Cui'e, plans to reduce her shareholding by up to 349,760 shares, approximately 2% of the total share capital [4] - Dagang Holdings' shareholder, Yingqi Management, plans to reduce its shareholding by up to 952,000 shares, about 3% of the total share capital [5] Risk Matters - Pinming Technology is planning a significant matter that may lead to a change in control, resulting in a stock suspension from September 18 for no more than 2 trading days [6] - Hangzhou High-tech's shareholder, Wanren Zhongying, has 583,370 shares (4.61% of total share capital) subject to judicial auction scheduled for October 16-17, 2025 [7] Company Operations - Kosen Technology clarified that it does not produce AI glasses or their structural components, and its folding screen hinge assembly business generated only 2.10% of total revenue in the first half of 2025 [8] - Meili Cloud's shareholder, Zhongye Paper, has had its bankruptcy liquidation application accepted by the court [9][10] Stock Trading - Tianpu Co., Ltd. has completed its stock trading suspension review and will resume trading on September 18, following an investigation into abnormal trading activities [11]

Group 1: Fiscal Revenue and Budget - In the first eight months of 2025, the national general public budget revenue reached 148198 billion yuan, showing a year-on-year growth of 0.3% [1] - Tax revenue amounted to 121085 billion yuan, with a slight increase of 0.02% year-on-year, while non-tax revenue was 27113 billion yuan, growing by 1.5% [1] - Central government budget revenue was 64268 billion yuan, reflecting a year-on-year decline of 1.7%, whereas local government budget revenue was 83930 billion yuan, increasing by 1.8% [1] Group 2: Smart Connected Vehicles - The Ministry of Industry and Information Technology is soliciting public opinions on mandatory national standards for smart connected vehicle combination driving assistance systems [2] - The proposed standards aim to establish a safety baseline for smart connected vehicle products, requiring systems to activate only under designed operating conditions [2] - The standards include comprehensive safety technical requirements covering human-machine interaction, functional safety, information security, and data recording, creating a "triple safety guarantee" [2] Group 3: Service Consumption Policies - The Ministry of Commerce plans to introduce a series of specialized documents to promote high-quality development in the accommodation industry and the integration of railways and tourism [3] - Over 30 policies have already been implemented to establish a "1+N" policy system for service consumption [3] Group 4: Financial Support for Consumption - The People's Bank of China is actively supporting qualified financial institutions to issue financial bonds and credit asset-backed securities to enhance consumer credit supply capacity [4] - From January to July this year, automotive financial companies issued financial bonds totaling 215 billion yuan and credit asset-backed securities amounting to 484 billion yuan [4] Group 5: Corporate News - Shanghai Construction Group reported that its gold business revenue constitutes a low proportion of total operating income [6] - NIO received an investment of 1.16 billion USD [6] - New materials company plans to reduce its stake by no more than 2% [6] - Huazhu Group intends to invest up to 10 billion yuan in financial products [6] - Several companies, including Maimai Bio and Xinyuan Technology, are involved in significant partnerships and developments [6]

Market Performance - On September 17, the market showed a strong rebound with major indices recovering from earlier lows, leading to over 2,500 stocks rising across the market [1] - The trading volume in the Shanghai and Shenzhen markets reached 2.38 trillion yuan, an increase of 35.3 billion yuan compared to the previous trading day [1] Fund Performance Top Performing Funds - The top performing fund for the day was Jin Xin Selected Growth A, with a daily net value growth rate of 7.71% and a year-to-date return of 46.49% [2] - Other notable funds included Jin Xin Stable Strategy A with a 7.47% daily increase and a year-to-date return of 42.4%, and Jin Xin Industry Preferred A with a 7.45% daily increase and a year-to-date return of 44.69% [2] Underperforming Funds - The worst performing fund was Qianhai Kaiyuan Gold and Silver Jewelry A, which saw a daily net value decrease of 2.5% but still had a year-to-date return of 65.42% [3] - Other underperformers included Huafu Yongxin A with a -2.41% daily return and a year-to-date return of 67.93%, and Yin Hua Tong Li Selected with a -2.15% daily return and a year-to-date return of 49.47% [3] Bond Fund Performance - The top performing bond fund was Bosera Pu Hui One-Year Holding A, with a daily net value growth rate of 2.18% and a year-to-date return of 25.8% [4] - Other notable bond funds included Golden Eagle Yuan Feng A with a 2.17% daily increase and a year-to-date return of 31.11%, and ICBC Balanced Return 6-Month Holding A with a 1.9% daily increase and a year-to-date return of 10.37% [4] Company News - Tianpu Co., Ltd. announced that its stock trading suspension for verification has been completed, and it will resume trading on September 18, 2025 [5] - The company had previously experienced a continuous rise in stock price for 11 trading days, leading to a halt for verification of trading anomalies [5]

Core Viewpoint - Tianpu Co., Ltd. (stock code: 605255) is set to resume trading on September 18, 2025, after completing a second suspension review due to significant stock price fluctuations [1][2]. Group 1: Trading Suspension and Resumption - Tianpu Co., Ltd. experienced a trading suspension from September 11, 2025, after its stock price hit the daily limit up for 11 consecutive trading days from August 22 to September 10, 2025 [2]. - The company has undergone two rounds of trading suspension reviews in September 2025, with the first occurring from September 4 to September 8 [2]. Group 2: Shareholding Structure and Control Change - As of now, Tianpu Co., Ltd. has a total share capital of 134 million shares, with the controlling shareholder, Zhejiang Tianpu Holdings Co., Ltd., and its actual controller, You Jianyi, holding 101 million shares, accounting for 75% of the total share capital [3]. - The recent surge in stock price is closely related to news of a change in control, where You Jianyi and Tianpu Holdings plan to transfer a total of 10.75% of shares to Zhonghao Xinying (Hangzhou) Technology Co., Ltd. and an additional 8% to Fang Donghui [3]. Group 3: Acquisition and Funding Status - The acquisition involves Zhonghao Xinying and Hainan Xinfan Enterprise Management Partnership acquiring a combined 50.01% stake in Tianpu Holdings, which will lead to a change in the actual controller of the listed company [3]. - As of September 17, 2025, the total acquisition funds of 2.123 billion yuan have been fully secured, with Hainan Xinfan contributing 395 million yuan, Zhonghao Xinying 965 million yuan, and Fang Donghui 764 million yuan [6].

Core Viewpoint - Tianpu Co., Ltd. (605255) will resume trading on September 18 after being suspended for 11 consecutive trading days due to a stock price surge of 185.29% from August 22 to September 10 [1][2]. Group 1: Trading Resumption - Tianpu Co., Ltd. announced its stock will resume trading on September 18 following a suspension for a price inquiry [1]. - The stock experienced a continuous rise, hitting a price of 76 yuan per share and a market capitalization of 10.2 billion yuan as of September 10 [3]. Group 2: Control Change and Agreements - The company is undergoing a change in control through agreements signed on August 21 and September 15, involving a transfer of shares and capital increase to Zhejiang Tianpu Holdings [1]. - After the completion of the transaction, Yang Gongyifan, the actual controller of TPU chip company Zhonghao Xinying, will become the actual controller of Tianpu Co., Ltd. [1]. Group 3: Insider Trading Allegations - There were market rumors regarding potential insider trading related to the transaction, but Tianpu Co., Ltd. stated that there was no premature disclosure of insider information [1][2]. - Four individuals identified as insiders conducted stock trading before the information was known, and they have returned the profits to the company [2].

Macro Dynamics - The Chinese Foreign Ministry commented on the recent postponement or cancellation of concerts by Korean artists in China, indicating that China does not oppose healthy cultural exchanges between China and South Korea [2] Industry Developments - The Ministry of Commerce announced the establishment of five industry standardization technical committees, including those for automotive circulation and pharmaceutical circulation [3] Financial Data - The Ministry of Finance reported that from January to August 2025, the securities transaction stamp duty reached 118.7 billion yuan, a year-on-year increase of 81.7% [4] - The retail sales of passenger cars in China from September 1 to 14 totaled 732,000 units, a year-on-year decrease of 4%, while the cumulative retail sales for the year reached 15.497 million units, a year-on-year increase of 9% [5][6] Market Performance - On September 17, the A-share market saw all three major indices rise, with the Shanghai Composite Index up 0.37% and the ChiNext Index up 1.95%. The total trading volume was approximately 23,767.46 billion yuan [9] - The financing balance of the two markets increased by 22.54 billion yuan, with the Shanghai Stock Exchange reporting a balance of 1,205.86 billion yuan and the Shenzhen Stock Exchange reporting 1,162.11 billion yuan [10] Company News - Xinhua Insurance reported a cumulative original insurance premium income of 158.086 billion yuan from January to August 2025, representing a year-on-year increase of 21% [8] - Tempus Co., Ltd. announced that its stock will resume trading on September 18, 2025, after a significant price increase, but noted uncertainties regarding control changes and potential risks of a rapid decline in stock price [13] - Peak's chairman denied reports of a company-wide salary reduction, stating that the overall reduction was less than 10% and not applicable to all employees [14] - Mindray Medical responded to rumors of a potential secondary listing in Hong Kong, confirming that it would rely on official announcements for information [15]

Core Viewpoint - Tianpu Co., Ltd. announced that its stock trading suspension for verification has been completed, and trading will resume on September 18, 2025, after experiencing significant price fluctuations and multiple trading halts due to abnormal trading conditions [1][4]. Group 1: Stock Trading and Market Activity - The company's stock price experienced a continuous rise, hitting the upper limit for 11 consecutive trading days from August 22 to September 10, 2025 [1]. - The stock was previously suspended for verification due to abnormal trading activities, with the first suspension occurring from September 3 to September 9, 2025, after a similar price surge [4][5]. - As of September 17, 2025, the company's total market capitalization is 10.2 billion [2]. Group 2: Control Change and Acquisition - The company is in the process of a control change, with the acquirer planning to obtain control through agreement transfer and capital increase, with Yang Gongyifan set to become the new actual controller [3]. - The acquirer, Zhonghao Xinying (Hangzhou) Technology Co., Ltd., has no plans for asset injection or significant business changes within the next 12 months [3]. - As of September 15, 2025, the acquisition funds from Zhonghao Xinying amount to 9.65 billion, while another party, Fang Donghui, has contributed 7.64 billion, with partial funds from Hainan Chip Fan expected to be completed by September 19, 2025 [5]. Group 3: Insider Trading Investigation - There were rumors of insider information leakage related to the trading activities, but the company conducted a self-examination and found no evidence of insider trading, as the transactions occurred before the insider information was formed or known [4]. - Four individuals, identified as insiders, have returned their trading profits to Tianpu Co., Ltd. as of September 17, 2025 [4].

中信建投证券股份有限公司 关于宁波市天普橡胶科技股份有限公司控制权变更 有关事项的监管工作函回复的核查意见 上海证券交易所： 中信建投证券股份有限公司（以下简称"中信建投证券"、"财务顾问"）接受 中昊芯英（杭州）科技有限公司的委托，担任宁波市天普橡胶科技股份有限公司 控制权变更收购方的财务顾问。财务顾问根据贵所下发的《关于宁波市天普橡胶 科技股份有限公司控制权变更有关事项的监管工作函》（上证公函【2025】1272 号，以下简称"《监管工作函》"）要求，会同公司针对《监管工作函》进行了认 真讨论充分核查，现向贵所提交《监管工作函》回复的核查意见。 问题 1、关于收购目的 上市公司主营汽车用高分子流体管路系统及密封系统零件及总成，杨龚轶凡 控制的主要主体中昊芯英（杭州）科技有限公司（以下简称中昊芯英）主营 AI 芯片的设计、销售及提供算力解决方案，双方业务存在较大差异。此外，公司为 2020 年 8 月上市公司，自上市以来公司营业收入规模维持在 3 亿元，2025 年一 季度营业收入与归母净利润出现同比下滑。 请公司及相关方核实并说明：（1）公司原实控人尤建义让渡控制权的主要原 因及考虑，杨龚轶凡取得公司控制 ...

中信建投证券股份有限公司 关于宁波市天普橡胶科技股份有限公司 详式权益变动报告书 之 财务顾问核查意见 （修订稿） 二〇二五年九月 声 明 根据《中华人民共和国公司法》《中华人民共和国证券法》《上市公司收 购管理办法》《公开发行证券的公司信息披露内容与格式准则第15号——权益 变动报告书》《公开发行证券的公司信息披露内容与格式准则第16号——上市 公司收购报告书》及相关法律、法规的规定，中信建投证券股份有限公司（以 下简称"本财务顾问"或"中信建投证券"）按照证券行业公认的业务标准、 道德规范和勤勉尽责精神，就本次信息披露义务人及其一致行动人披露的《详 式权益变动报告书》进行核查，并出具核查意见。 2、本财务顾问所依据的有关资料由信息披露义务人提供。信息披露义务人 及其一致行动人已做出声明，保证其所提供的所有文件、材料及口头证言真实、 准确、完整、及时，副本资料或复印件与其原始资料或原件一致，所有文件的 签名、印章均是真实的，不存在任何重大遗漏、虚假记载或误导性陈述，并对 其真实性、准确性、完整性和合法性负责。 3、本财务顾问未委托和授权任何其他机构和个人提供未在本财务顾问核查 意见中列载的信息和对本财务顾问 ...

1、硕贝德：拟将本次回购股份价格上限由19.50元/股（含）调整为30.00元/股（含） 2、爱迪特：股东SCPE拟询价转让3%. 三、对外投资、日常经营 1、迈威生物：与Kalexo签署独家许可协议，最高可获10亿美元预付款和里程碑付款。 2、兴业科技：与苏州能斯达签署战略合作协议，共同研发柔性电子皮肤。 3、安科生物：参股公司PA3-17注射液获准进入关键性II期临床试验 为全球首款获得新药临床试验批准 的靶向CD7的自体CAR-T细胞治疗产品。 一、复牌、停牌 1、天普股份：股票交易停牌核查工作已完成，明起复牌。 2、品茗科技：正在筹划重大事项，该事项可能导致公司控制权变更，股票停牌。 二、回购、股权转让 7、绿通科技：与格林美控股子公司动力再生签署战略合作框架协议。 8、润建股份：拟发行不超60亿元债务融资工具，用以满足公司算力等业务资金需求。 9、智飞生物：创新药CA111注射液获批在成人超重或肥胖患者中开展临床试验。 10、华海药业：子公司获得美国FDA批准开展注射用HB0043 I期临床试验。 11、塞力医疗：拟4274万元增资武汉华纪元，推进疗性降血压疫苗（HJY-ATRQβ-001）项目各期 ...