每经记者｜王琳 每经编辑｜张海妮 并购重组 华虹公司：拟购买华力微97.5%股权 华虹公司公告，公司拟以发行股份及支付现金的方式，向上海华虹（集团）有限公司、上海集成电路产 业投资基金股份有限公司、国家集成电路产业投资基金二期股份有限公司、上海国投先导集成电路私募 投资基金合伙企业（有限合伙）购买其持有的上海华力微电子有限公司97.5%股权并募集配套资金。公 司股票将于2025年9月1日开市起复牌。 欧林生物：拟收购新诺明生物15%股权 欧林生物公告，公司控股子公司新诺明生物的少数股权股东一号基金以及菁创基金拟通过西南联合产权 交易所公开转让方式转让其合计持有的新诺明生物15%股权。公司拟以不超过标的股权挂牌底价上浮 5%且不超过4500万元的资金参与竞购。 东芯股份：拟以约2.11亿元增资上海砺算 东芯股份公告，公司拟与亨通集团有限公司、上海道禾长期投资管理有限公司管理的基金、其他投资主 体、上海砺算员工持股平台共同对外投资上海砺算，投资人合计投资金额约为5亿元。其中，公司拟以 约2.11亿元向上海砺算增资，本次增资完成后，公司将持有上海砺算约35.87%的股权。 增减持 高能环境：控股股东拟减持不超过3% ...

Major Events - Huahong Company plans to acquire 97.4988% equity of Huali Micro through a combination of share issuance and cash payment, with stock resuming trading on September 1, 2025, pending shareholder and regulatory approvals [1] - Dongxin Co. intends to invest approximately 211 million yuan in Shanghai Lisan, increasing its stake to 35.87%, as part of a total investment of around 500 million yuan in Lisan Technology [1] - Huaxin Cement is planning to integrate its overseas assets into a subsidiary for potential listing on an overseas stock exchange to enhance financing channels and operational capabilities [2] - *ST Tianmao is voluntarily terminating its A-share listing due to business restructuring uncertainties and will initiate a cash option for shareholders [2] - Meikailong's Vice President Che Guoxing has resigned for personal reasons, with no adverse impact on daily operations [3] - China Rare Earth announced that there are no undisclosed significant matters affecting its stock, despite recent price fluctuations [3] - Maiwei Bio has re-submitted its application for H-share issuance and listing on the Hong Kong Stock Exchange [4][5] Shareholding Changes - Gao Neng Environment's controlling shareholder Li Weiguo plans to reduce his stake by up to 3% to repay debts, with the reduction period set from September 23 to December 22, 2025 [6] - Hu Dian Co.'s senior executive Li Minggui intends to sell up to 0.0083% of the company's shares within three months following the announcement [6] Financing Activities - Maohua Shihua plans to raise no more than 532 million yuan through a private placement at a price of 3.41 yuan per share, with proceeds aimed at enhancing liquidity [7] Major Contracts - Junxin Co.'s subsidiary has signed an investment agreement with the Ministry of Ecology and Natural Resources of Kazakhstan for a solid waste disposal power generation project in Almaty, with a planned processing capacity of at least 2,000 tons per day and an investment of no less than 145 billion tenge (approximately 28 million USD) [8]

证券代码：688110 证券简称：东芯股份 公告编号：2025-049 东芯半导体股份有限公司 本公司董事会及全体董事保证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。 重要内容提示： ? 股东会召开日期：2025年9月16日 ? 本次股东会采用的网络投票系统：上海证券交易所股东会网络投票系统 一、 召开会议的基本情况 （一） 股东会类型和届次 （二） 股东会召集人：董事会 （三） 投票方式：本次股东会所采用的表决方式是现场投票和网络投票相结合 的方式 （四） 现场会议召开的日期、时间和地点 召开日期时间：2025 年 9 月 16 日 14 点 00 分 召开地点：上海市青浦区徐泾镇诸光路 1588 弄虹桥世界中心 L4A-F5 东芯 半导体股份有限公司会议室 （五） 网络投票的系统、起止日期和投票时间。 网络投票系统：上海证券交易所股东会网络投票系统 网络投票起止时间：自2025 年 9 月 16 日 至2025 年 9 月 16 日 采用上海证券交易所网络投票系统，通过交易系统投票平台的投票时间为股 东会召开当日的交易时间段，即 9:15-9: ...

Investment Overview - Dongxin Semiconductor Co., Ltd. plans to invest approximately RMB 500 million in Lisan Technology (Shanghai) Co., Ltd., with Dongxin contributing about RMB 210.53 million for a 35.87% stake [3][4][12] - The investment is part of a broader strategy to enhance core competitiveness and create more value for shareholders [11][12] Financial Data of Target Company - As of July 31, 2025, Lisan Technology reported total assets of RMB 34.34 million and total liabilities of RMB 120.67 million, resulting in a net asset deficit of RMB 86.33 million [7] - The company has not generated any revenue and reported a net loss of RMB 154.82 million for the same period [7] Market Position and Risks - The global discrete graphics card market is dominated by NVIDIA and AMD, creating a highly concentrated oligopoly, which poses significant competition risks for domestic GPU manufacturers like Lisan [2][14] - Lisan's core business is heavily reliant on its "7G100" graphics rendering GPU, making it vulnerable to market acceptance and technological advancements [14][15] Governance and Compliance - The investment transaction has been approved by the company's board and will be submitted for shareholder approval, adhering to relevant regulations [5][13] - Lisan Technology is classified as an associated entity, and the transaction does not constitute a major asset restructuring [5][6] Investment Valuation - The pre-investment valuation of Lisan Technology is set at RMB 3.5 billion, with a subscription price of RMB 259.95 per RMB 1 of registered capital [9][10] - The pricing follows market principles and is based on a comprehensive assessment of the target company's technology and market potential [13]

Investment Announcement - Dongxin Co., Ltd. plans to invest approximately 500 million RMB in Shanghai Lishuan, with the company contributing about 211 million RMB to acquire approximately 35.87% equity in Shanghai Lishuan [1][2] - Shanghai Lishuan focuses on the research and design of scalable GPU chips for multi-layer graphics rendering, aiming to address key issues in the independent control of mainstream GPU architecture in China [1] Financial Performance - For the first half of 2025, Dongxin Co., Ltd. reported revenue of 343 million RMB, representing a year-on-year increase of 28.81%, while the net loss attributable to shareholders was 111 million RMB, widening from a loss of 91.12 million RMB in the same period last year [5] Stock Market Activity - Dongxin Co., Ltd. announced a temporary suspension of its stock trading due to significant fluctuations, with a cumulative stock price increase of 207.85% from July 29, 2025, to August 28, 2025 [4] - The average turnover rate during this period was 11.77%, significantly higher than previous levels, indicating potential market overheating and speculative trading risks [4]

东芯半导体股份有限公司 关于对外投资暨关联交易的公告 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、准确性和完整性依法承担法律责任。 重要内容提示： 相关风险提示： 1、本次交易完成的不确定性风险 因参与上海砺算本次增资的其他投资人及其投资金额尚未完全确定，故本次 增资完成后的各投资人持股比例可能发生变化，具体持股比例以最终签署的投资 协议约定为准。本次交易各方尚未完成正式协议的最终签署，交易的达成尚存在 不确定性。 证券代码：688110 证券简称：东芯股份 公告编号：2025-048 1 交易简要内容：东芯半导体股份有限公司（以下简称"公司"、"东芯股份"） 拟与亨通集团有限公司、上海道禾长期投资管理有限公司管理的基金、其他 投资主体（以下简称"其他投资人"，与东芯股份合称"投资人"）、砺算 科技（上海）有限公司之员工持股平台（以下简称"持股平台"、"标的公 司持股平台"）共同对外投资砺算科技（上海）有限公司（以下简称"上海 砺算"或"标的公司"），投资人合计投资金额约为 50,000.00 万元。其中， 公司拟通过自有资金人民币约 21,052.6 ...

东芯半导体股份有限公司 关于召开2025年第二次临时股东会的通知 本公司董事会及全体董事保证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。 重要内容提示： 一、 召开会议的基本情况 证券代码：688110 证券简称：东芯股份 公告编号：2025-049 至2025 年 9 月 16 日 （一） 股东会类型和届次 2025年第二次临时股东会 （二） 股东会召集人：董事会 （三） 投票方式：本次股东会所采用的表决方式是现场投票和网络投票相结合 的方式 （四） 现场会议召开的日期、时间和地点 召开日期时间：2025 年 9 月 16 日 14 点 00 分 召开地点：上海市青浦区徐泾镇诸光路 1588 弄虹桥世界中心 L4A-F5 东芯 半导体股份有限公司会议室 （五） 网络投票的系统、起止日期和投票时间。 网络投票系统：上海证券交易所股东会网络投票系统 网络投票起止时间：自2025 年 9 月 16 日 采用上海证券交易所网络投票系统，通过交易系统投票平台的投票时间为股 东会召开当日的交易时间段，即 9:15-9:25,9:30-11:30，13:00- ...

Group 1 - The company announced on August 31 that it plans to invest in Shanghai Lishuan alongside Hengtong Group Co., Ltd., a fund managed by Shanghai Daohua Long-term Investment Management Co., Ltd., and other investment entities [1] - The total investment amount from all investors is approximately 500 million yuan [1] - The company intends to use its own funds of approximately 210.53 million yuan to increase its capital in Shanghai Lishuan, acquiring about 35.87% equity after the capital increase [1]

Core Viewpoint - Dongxin Co., Ltd. (688110.SH) announced a joint investment of approximately 500 million RMB in Shanghai Lishuan, indicating a strategic move to enhance its capabilities in GPU chip development and align with its integrated strategy of "storage, computing, and networking" [1] Investment Details - The total investment amount from all investors is around 500 million RMB, with Dongxin contributing approximately 211 million RMB from its own funds [1] - After the capital increase, Dongxin will hold about 35.87% of the equity in Shanghai Lishuan, which will receive an additional registered capital of approximately 809,900 RMB [1] Company Focus - Shanghai Lishuan primarily engages in the research and design of multi-level (scalable) graphic rendering GPU chips, emphasizing self-developed architecture [1] - The products are designed to achieve mainstream graphic rendering and AI acceleration across edge, cloud, and terminal environments, aiming to address the critical issue of achieving a fully controllable domestic mainstream GPU architecture [1]

Core Viewpoint - The company is experiencing significant stock price volatility, leading to a temporary suspension of trading to conduct a review of the situation [1][2][4]. Stock Trading and Suspension - The company's stock will be suspended from trading starting August 29, 2025, for a period not exceeding three trading days due to abnormal trading fluctuations [2][6]. - From July 29, 2025, to August 28, 2025, the company's stock price increased by 207.85%, with an average turnover rate of 11.77%, significantly higher than previous levels [2][4]. Financial Metrics - As of August 28, 2025, the closing price of the stock was 118 CNY per share, with a rolling P/E ratio of 53.35 for the industry, while the company's rolling P/E ratio is currently negative [4][6]. Risks Associated with New Product Development - The company faces several risks related to the development and commercialization of its new GPU products, including: - **Industrialization Progress Risk**: Delays in market entry could impact revenue realization and cash flow [5]. - **Market Competition Risk**: The GPU market is dominated by major players like NVIDIA and AMD, posing challenges for the company's products [5]. - **Product Concentration Risk**: The company's reliance on a single product, the "7G100" GPU, could lead to significant financial impact if it fails to gain market acceptance [5][6]. Overall Business Risks - The company is exposed to performance risks if its products do not meet market demands or cost control measures are ineffective [6]. - Continuous investment in R&D is necessary to maintain competitiveness, and failure to secure funding could hinder the company's growth and sustainability [6].