Group 1 - The Ministry of Human Resources and Social Security and the Ministry of Finance announced an increase in basic pension levels for retirees starting January 1, 2025, with an overall adjustment level of 2% based on the average monthly basic pension of retirees in 2024 [2] - The Chinese government is taking measures to combat the smuggling of strategic minerals such as antimony and gallium, with a special action launched in May to prevent illegal outflows [2] - A new agreement between the Chinese and Malaysian governments will allow visa-free travel for holders of ordinary passports for stays of up to 30 days, effective July 17, 2025 [3] Group 2 - The China Automobile Industry Association reported that the automotive industry saw significant growth in the first half of the year, with production and sales exceeding 15 million units, and new energy vehicle sales reaching 6.968 million units, a year-on-year increase of 41.4% [4] - The Beijing Municipal Government aims for an average annual growth of around 5% in total market consumption by 2030, with plans to create 2-3 consumption landmarks worth over 100 billion [4] - U.S. stock indices saw collective gains, with the S&P 500 and Nasdaq reaching new highs, indicating a positive market sentiment [4] Group 3 - Companies such as Tianbao Infrastructure reported a significant net profit increase of 1581.8% to 2329.27% year-on-year for the first half of the year [6] - East Sunshine projected a net profit increase of 157.48% to 192.81% for the first half of the year [7] - Southwest Securities noted that the profitability of thermal power companies is improving due to declining fuel costs, with a recovery of 11% in stock prices since late January [8] Group 4 - Zhongyuan Securities highlighted that the ongoing anti-involution policies in the chemical industry may lead to a better industry structure, recommending attention to the pesticide, organic silicon, and polyester filament sectors [9]

Core Viewpoint - The control of Changling Hydraulic is set to change hands as major shareholders plan to transfer a significant portion of their shares to new entities, which may impact the company's future operations and management [1][2][3]. Group 1: Share Transfer Details - Changling Hydraulic announced the transfer of 43,211,714 shares, representing 29.99% of total shares, from major shareholders to Wuxi Hexin Tingtao and Chenglian Shuangying, with a total transaction value of 1.238 billion yuan at a price of 34.39 yuan per share [1]. - Following the transfer, the major shareholders will hold a combined total of 58,990,000 shares, accounting for 40.94% of the company [1]. Group 2: Tender Offer - Wuxi Hexin Polang has issued a partial tender offer for 17,290,448 shares, which is 12% of the total shares, at a price of 36.24 yuan per share, requiring a total payment of 627 million yuan [2]. - The total funds required for both the share transfer and the tender offer amount to 2.113 billion yuan [2]. Group 3: Change of Control - The actual control of Changling Hydraulic will shift to Hu Kangqiao, who is the managing partner of both Hexin Tingtao and Hexin Polang, following the completion of these transactions [2]. - Hu Kangqiao has a background in chip design and has previously worked at AMD, which may bring new operational insights to the company [2]. Group 4: Company Performance and Market Reaction - Changling Hydraulic has faced declining net profits since its listing, with year-on-year changes of -14.56%, -36.91%, -20.01%, and -6.84% from 2021 to 2024, and a further decline of -7.63% in the first quarter of this year [4]. - The market has reacted negatively to the proposed control change, with the company's stock experiencing consecutive trading halts and a closing price of 38.21 yuan per share on July 3 [4].

Core Viewpoint - The report details the equity changes of Jiangsu Changling Hydraulic Co., Ltd, highlighting the acquisition of 29.99% of its shares by Wuxi Hexin Tingtao Technology Partnership and Jiangyin Chenglian Shuangying Investment Partnership, aiming to gain control over the company [1][2][23]. Group 1: Equity Change Details - The equity change involves the acquisition of 43,211,714 shares, representing 29.99% of the total share capital of Jiangsu Changling Hydraulic [5][23]. - The acquisition is structured through agreements signed on July 10, 2025, between the acquirers and existing shareholders [21][23]. - Following the acquisition, Wuxi Hexin Tingtao will hold 36,007,360 shares (24.99%), while Jiangyin Chenglian Shuangying will hold 7,204,354 shares (5.00%) [23][24]. Group 2: Parties Involved - The information disclosing parties include Wuxi Hexin Tingtao Technology Partnership and Jiangyin Chenglian Shuangying Investment Partnership, both limited partnerships [1][6]. - The actual controller of these partnerships is Hu Kangqiao, who is also the executive partner [10][18]. - Jiangyin Chenglian Shuangying is controlled by the Jiangyin High-tech Zone State-owned Assets Supervision and Administration Office [10][18]. Group 3: Future Plans - The acquirers plan to further increase their stake by an additional 12% through a partial tender offer, aiming for greater control over Jiangsu Changling Hydraulic [21][22]. - The tender offer will involve acquiring 17,290,448 shares, with commitments from existing shareholders to accept the offer [21][22]. - The report emphasizes that the acquisition does not intend to terminate the listing status of Jiangsu Changling Hydraulic [21].

Core Viewpoint - The announcement details a significant change in control for Jiangsu Changling Hydraulic Co., Ltd, with the transfer of shares from major shareholders to new parties, leading to a shift in actual control to Hu Kangqiao [1][2][20]. Summary by Sections Share Transfer Overview - The major shareholders, Xia Jifa and Xia Zemin, will transfer a total of 43,211,714 shares, representing 29.99% of the company's total shares, to Wuxi Hexin Tingtao Technology Partnership and Jiangyin Chenglian Shuangying Investment Partnership [1][2][25]. - Prior to the transfer, Xia Jifa held 58,800,000 shares (40.81%) and Xia Zemin held 39,200,000 shares (27.21%) [1][2]. Control Change - Following the completion of the share transfer and a partial tender offer, the actual controller of the company will change to Hu Kangqiao [2][20]. - The new controlling parties will hold a combined 41.99% of the voting rights in the company [27]. Tender Offer - Hexin Polang plans to issue a partial tender offer for 17,290,448 shares, representing 12% of the company's total shares, at a price of 36.24 yuan per share [8][17]. - Xia Jifa and Jiangyin Lanhai Haolong have committed to accept the tender offer for their respective shares [9][17]. Financial Details - The total consideration for the share transfer amounts to approximately 1.49 billion yuan, with a per-share price of 34.39 yuan [12][25]. - The funding for the transaction will come from the legal self-owned funds of Chenglian Shuangying and Hexin Tingtao, along with additional financing through loans [26][27]. Lock-up Period - The newly acquired shares will be subject to a lock-up period of 36 months from the date of transfer [2][16]. Impact on Company - The change in control is expected to bring in operational management experience and industry resources, optimizing the company's share structure and enhancing its asset potential [28]. - The company aims to promote further business expansion and transformation, enhancing its sustainable development capabilities [28].

江苏长龄液压股份有限公司 简式权益变动报告书 江苏长龄液压股份有限公司 简式权益变动报告书 上市公司名称：江苏长龄液压股份有限公司 股票上市地点：上海证券交易所 股票简称：长龄液压 股票代码：605389 信息披露义务人一：夏继发 通讯地址：江苏省江阴市云亭街道云顾路 885 号 信息披露义务人二：夏泽民 通讯地址：江苏省江阴市云亭街道云顾路 885 号 信息披露义务人一致行动人：江阴澜海浩龙企业管理合伙企业（有限合伙） 住所：江阴市云亭街道大园里路 1 号 通讯地址：江阴市云亭街道大园里路 1 号 股份变动性质：股份减少（协议转让） 签署日期：二〇二五年七月 1 信息披露义务人声明 一、信息披露义务人依据《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》 等相关法律法规、规范性文件的有关规定编写本权益变动报告书。 二、信息披露义务人签署本报告书已获得必要的授权和批准。 三、依据《中华人民共和国证券法》《上市公司收购管理办法》的规定，本 报告书已全面披露了信息披露义务人在江苏长龄液压股份有限公司中拥有权益 的股份变动情况。 截至本报告书签 ...

Core Points - Changling Hydraulic (605389) announced a share transfer agreement involving the transfer of 43.21 million unrestricted circulating shares, representing 29.99% of the total shares, from shareholders Xia Jifa and Xia Zemin to Wuxi Hexin Tingtao Technology Partnership and Jiangyin Chenglian Shuangying Investment Partnership [1] - Wuxi Hexin Bolang Technology Partnership plans to issue a partial tender offer to all shareholders of Changling Hydraulic, excluding the aforementioned parties, for 17.29 million shares, which accounts for 12.00% of the total shares [2] - Following the completion of the share transfer and tender offer, the actual controller of the company will change to Hu Kangqiao, with the company's stock set to resume trading on July 11, 2025 [2]

证券代码：605389 证券简称：长龄液压 公告编号：2025-026 江苏长龄液压股份有限公司 关于控股股东筹划控制权变更事项进展暨股票复牌的公告 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。 公司近日收到控股股东、实际控制人夏继发先生、夏泽民先生通知，其正在 筹划重大事项，该事项可能导致公司控制权发生变更。 经公司向上海证券交易所申请，公司股票（证券代码：605389，证券简称： 长龄液压）已于 2025 年 7 月 4 日（星期五）开市起停牌。具体内容详见公司于 2025 年 7 月 4 日在指定信息披露媒体及上海证券交易所网站（www.sse.com.cn）披露的 《江苏长龄液压股份有限公司关于筹划控制权变更事项的停牌公告》（公告编号： 2025-024）。 由于该事项尚在筹划中，公司预计无法在 2025 年 7 月 8 日（星期二）开市起 复牌。经向上海证券交易所申请，公司股票于 2025 年 7 月 8 日（星期二）开市起 继续停牌。具体内容详见公司于 2025 年 7 月 8 日在指定信息披露媒体及上海证券 交 ...

证券代码：605389 证券简称：长龄液压 公告编号：2025-027 江苏长龄液压股份有限公司 关于控股股东协议转让股份暨控制权拟发生变更的提示性公告 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。 重要内容提示： 本次权益变动前，夏继发持有江苏长龄液压股份有限公司（以下简称"长 龄液压""公司"或"上市公司"）58,800,000 股股份，均为无限售条件流通股， 占上市公司股份总数的 40.81%。夏泽民持有长龄液压 39,200,000 股股份，均为 无限售条件流通股，占上市公司股份总数的 27.21%。夏继发为公司控股股东， 夏继发、夏泽民为公司实际控制人。 江阴澜海浩龙企业管理合伙企业（有限合伙）（以下简称"澜海浩龙"）系 由夏继发担任执行事务合伙人的企业，为夏继发、夏泽民的一致行动人，持有长 龄液压 4,200,000 股股份，均为无限售条件流通股，占上市公司股份总数的 2.91%。 交易方案 2025 年 7 月 10 日，无锡核芯听涛科技合伙企业（有限合伙）（以下简称"核 芯听涛"）与夏继发、夏泽民，江阴澄联双 ...

江苏长龄液压股份有限公司 详式权益变动报告书 上市公司名称：江苏长龄液压股份有限公司 信息披露义务人一：无锡核芯听涛科技合伙企业（有限合伙） 住所： 江阴市中南路1号A1办公楼304室 通讯地址： 江阴市中南路1号A1办公楼304室 信息披露义务人二：江阴澄联双盈投资合伙企业（有限合伙） 住所：江阴市创富1号10幢1802室 通讯地址：江阴市创富1号10幢1802室 信息披露义务人一致行动人：无锡核芯破浪科技合伙企业（有限合伙） 住所：江阴市中南路1号A1办公楼308室 通讯地址：江阴市中南路1号A1办公楼308室 股份变动性质：增加（协议受让） 签署日期：二〇二五年七月 1 上市地点：上海证券交易所 股票简称：长龄液压 股票代码：605389 信息披露义务人声明 本部分所述词语或简称与本报告书"释义"所述词语或简称具有相同含义。 一、本报告书是依据《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、规范性文件之规定编写 ...

江苏长龄液压股份有限公司 要约收购报告书摘要 上市公司名称：江苏长龄液压股份有限公司 收购人名称：无锡核芯破浪科技合伙企业（有限合伙） 住所：江阴市中南路1号A1办公楼308室 通讯地址：江阴市中南路1号A1办公楼308室 收购人一致行动人：无锡核芯听涛科技合伙企业（有限合伙） 住所： 江阴市中南路1号A1办公楼304室 通讯地址： 江阴市中南路1号A1办公楼304室 收购人一致行动人：江阴澄联双盈投资合伙企业（有限合伙） 住所：江阴市创富1号10幢1802室 通讯地址：江阴市创富1号10幢1802室 签署日期：二〇二五年七月 1 上市地点：上海证券交易所 股票简称：长龄液压 股票代码：605389 重要声明 本要约收购报告书摘要的目的仅为向社会公众投资者提供本次要约收购的 简要情况，投资者在做出是否预受要约的决定之前，应当仔细阅读要约收购报告 书全文，并以此作为投资决定的依据。 要约收购报告书全文将刊登于上海证券交易所网站（http://wwww.sse.com.cn）。 2 特别提示 本部分所述的词语或简称与本报告书摘要"释义"部分所定义的词语或简称 具有相同的涵义。 1、根据 2025 年 7 月 10 ...