Summary of Key Points Core Viewpoint - On September 1, Guizhou Moutai disclosed an increase in shareholding, while 18 A-share listed companies announced share reductions by their shareholders [1][3]. Group 1: Guizhou Moutai - The controlling shareholder of Guizhou Moutai increased their holdings by 67,800 shares [3]. Group 2: Share Reduction Announcements - Jinli Technology: Shareholder Wang Gangjuan plans to reduce holdings by up to 978,200 shares [3]. - New Agricultural Shares: Shareholder Dai Jingu intends to reduce holdings by up to 1,050,000 shares [3]. - Weima Agricultural Machinery: Chongqing Baoxia plans to reduce holdings by up to 0.98% of the company [3]. - Jiaman Apparel: Shareholder Shenzhen Jiaqiao plans to reduce holdings by up to 0.28238% [3]. - Fangyuan Shares: Shareholder Wuzhong Yuanding plans to reduce holdings by up to 3% [3]. - Kesi Technology: Liang Hongjian intends to reduce holdings by up to 3% [3]. - Shengtai Group: Itochu Asia plans to reduce holdings by up to 3% [3]. - Tenglong Shares: Jiang Yilin reduced holdings by 250,000 shares on August 28 [3]. - Haojiang Intelligent: Shareholder Nanjing Fuhua plans to reduce holdings by up to 1,500,000 shares [3]. - Dekeli: Shareholders holding over 5% plan to reduce holdings by up to 2.9957% [3]. - Yaxiang Integration: Shareholder plans to reduce holdings by up to 0.54% [3]. - Zhonglun New Materials: Shareholder plans to reduce holdings by up to 1% of total share capital [3]. - Juhualong: Shareholder Dongtai Juhua Ying plans to reduce holdings by up to 1% [3]. - Yidamo: Shareholder Qingyuan China plans to reduce holdings by up to 1% [3]. - Zhongtie Dingye: Shareholder Zhongyuan Equity commits not to reduce holdings within 36 months [3]. - Jinghua Laser: Directors and senior management plan to reduce holdings by up to 1,434,200 shares [3]. - Haotaitai: Shareholder Hou Pengde plans to reduce holdings by up to 0.8698% [3]. - Longqi Technology: Shareholder Suzhou Shunwei plans to reduce holdings by up to 4.09% [3].

Core Viewpoint - Fangyuan Co., Ltd. (688148.SH) announced that its shareholder, Wukuang Yuanding, plans to reduce its holdings by up to 15.3052 million shares, representing no more than 3% of the company's total share capital, due to business development needs [1] Group 1 - The reduction will be executed through centralized bidding or block trading methods [1] - The total number of shares to be reduced is significant, indicating a strategic shift by the shareholder [1]

Group 1: BYD Performance - BYD's August sales of new energy vehicles reached 373,600 units, nearly unchanged from 373,100 units in the same month last year [1] - Cumulative sales from January to August totaled 2.864 million units, representing a year-on-year growth of 23% [1] - BYD plans to export a total of 80,813 new energy vehicles by August 2025 [1] Group 2: Kweichow Moutai Shareholding - Kweichow Moutai's controlling shareholder, Moutai Group, increased its stake by 67,821 shares on September 1, 2025, accounting for 0.0054% of the total share capital [2] - The increase amounted to 100 million yuan and is part of a larger plan to buy back between 3 billion and 3.3 billion yuan worth of shares from September 1, 2025, to February 28, 2026 [2] Group 3: Chengdu Huamei Chip Development - Chengdu Huamei announced the successful launch of a 4-channel, 12-bit, 40G high-speed, high-precision RF direct sampling ADC chip [3] - The chip improves upon existing multi-channel high-speed ADCs, achieving international leading standards and filling a gap in similar products [3] - The company has received intention orders after sending samples to several clients [3] Group 4: Industrial Fulian Share Buyback - Industrial Fulian has repurchased a total of 7.6974 million shares, representing 0.04% of its total share capital, as of August 31, 2025 [6] - The highest repurchase price was 19.84 yuan per share, while the lowest was 18.40 yuan per share, with a total expenditure of 147 million yuan [6] Group 5: Innovative Drug Approval by Hengrui Medicine - Hengrui Medicine received conditional approval from the National Medical Products Administration for its innovative drug, SHR2554 tablets, aimed at adult patients with relapsed or refractory peripheral T-cell lymphoma [7] - This drug is noted as China's first independently developed EZH2 inhibitor [7] Group 6: Yonghui Supermarket Fundraising Adjustment - Yonghui Supermarket announced adjustments to its plan for issuing A-shares to specific investors, reducing the total fundraising amount from a maximum of 3.992 billion yuan to 3.114 billion yuan [8] - The adjustments primarily affect the funding amounts for store upgrades and working capital or bank loan repayments [8] Group 7: Automotive Sales Performance - SAIC Motor's vehicle sales in August reached 363,400 units, reflecting a year-on-year increase of 41.04% [9] - Great Wall Motors reported August sales of 115,600 units, marking a year-on-year growth of 22.33% [12] - Dong'an Power's engine sales in August increased by 3.44% year-on-year [12]

Core Viewpoint - Fangyuan Co., Ltd. (688148.SH) announced that its shareholder, Wukuang Yuanding, plans to reduce its holdings in the company due to business development needs, with a total reduction not exceeding 15.3052 million shares, representing up to 3% of the company's total share capital [1] Summary by Category Shareholder Actions - Wukuang Yuanding intends to reduce its shareholding through centralized bidding or block trading, with a maximum of 5.1017 million shares (up to 1% of total share capital) to be sold via centralized bidding [1] - The remaining 10.2035 million shares (up to 2% of total share capital) will be sold through block trading [1] - The reduction period is set to begin on September 18, 2025, and will last for three months [1]

广东芳源新材料集团股份有限公司 股东减持股份计划公告 本公司董事会、全体董事及相关股东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。 | 证券代码：688148 | 证券简称：芳源股份 | 公告编号：2025-046 | | --- | --- | --- | | 转债代码：118020 | 转债简称：芳源转债 | | 重要内容提示： 股东持股的基本情况 截至本公告披露日，股东五矿元鼎股权投资基金（宁波）合伙企业（有限合 伙）（以下简称"五矿元鼎"）持有广东芳源新材料集团股份有限公司（以下简 称"公司"）股份 20,043,840 股（占公司总股本 510,173,053 股的 3.93%），上述 股份为公司首次公开发行前股份，已于 2022 年 8 月 8 日解除限售并上市流通。 减持计划的主要内容 公司于近日收到股东五矿元鼎的通知，因业务发展需要，公司股东五矿元鼎 计划根据市场价格，通过集中竞价或大宗交易方式减持其所持有的公司股份合计 不超过 15,305,191 股（不超过公司总股本的 3%），其中以集中竞价交易方式减持 的，减持数量不 ...

Core Viewpoint - The report outlines the issuance of convertible bonds by Guangdong Fangyuan New Materials Group Co., Ltd., detailing the bond's approval process, terms, and recent financial performance, highlighting significant losses and changes in financial metrics [2][3][8]. Group 1: Bond Issuance Details - The convertible bonds, named "Fangyuan Convertible Bonds," have a total issuance size of RMB 642 million, with 6,420,000 bonds issued at a face value of RMB 100 each [3][4]. - The bonds have a six-year term, from September 23, 2022, to September 22, 2028, with a tiered interest rate starting at 0.5% in the first year and increasing to 3.5% in the sixth year [4][5]. - The initial conversion price for the bonds is set at RMB 18.62 per share, with the current conversion price slightly higher at RMB 18.63 per share [6][12]. Group 2: Financial Performance and Impact - The company reported a negative net profit for the period, with significant declines in net assets and return on equity, attributed to factors such as low capacity utilization and high unit costs [8]. - The cash flow from operating activities decreased significantly due to a sharp drop in other business income and an increase in accounts receivable [8]. - The company experienced a loss of RMB 10.8 million due to changes in market conditions, particularly in the lithium carbonate market, affecting raw material supply and profitability [8]. Group 3: Credit Rating and Management - The bonds were initially rated A+ by Zhongceng Pengyuan Credit Rating Co., Ltd., but subsequent evaluations have downgraded the issuer's credit rating to BBB, indicating a shift in financial stability [6][7]. - The report emphasizes the role of China International Capital Corporation as the bond's sponsor and trustee, ensuring the protection of bondholders' interests amid the company's financial challenges [2][8].

股票代码：688148 股票简称：芳源股份 债券代码：118020 债券简称：芳源转债 广东芳源新材料集团股份有限公司 向不特定对象发行可转换公司债券 第四次临时受托管理事务报告 （2025 年度） 债券受托管理人 二〇二五年九月 重要声明 本报告依据《公司债券发行与交易管理办法》《关于广东芳源新材料集团股 份有限公司向不特定对象发行可转换公司债券之债券受托管理协议》（以下简称 "《受托管理协议》"）《广东芳源新材料集团股份有限公司向不特定对象发行可 转换公司债券募集说明书》（以下简称"《募集说明书》"）等相关规定，由本次 债券受托管理人中国国际金融股份有限公司编制。中金公司编制本报告的内容及 信息均来源于广东芳源新材料集团股份有限公司提供的资料或说明。 本报告不构成对投资者进行或不进行某项行为的推荐意见，投资者应对相关 事宜做出独立判断，而不应将本报告中的任何内容据以作为中金公司所作的承诺 或声明。在任何情况下，投资者依据本报告所进行的任何作为或不作为，中金公 司不承担任何责任。 1 （七）票面金额和发行价格：本次发行的可转债每张面值为人民币100元， 按面值发行。 2 中国国际金融股份有限公司（以下简称" ...

Core Viewpoint - The company, Guangdong Fangyuan New Materials Group Co., Ltd., is set to hold a half-year performance briefing on September 9, 2025, to discuss its operational results and financial status for the first half of 2025, allowing investors to engage in Q&A sessions [3][5]. Group 1: Company Overview - The company is identified by the stock code 688148 and the abbreviation Fangyuan Co., with a convertible bond code of 118020 [1]. - The board of directors guarantees the authenticity, accuracy, and completeness of the half-year report, which has not been audited [1][2]. Group 2: Financial Data - The half-year report includes key financial data, although specific figures are not detailed in the provided text [2]. Group 3: Important Events - The performance briefing will take place at the Shanghai Stock Exchange Roadshow Center and will be conducted in an interactive online format [4][5]. - Investors can submit questions from September 2 to September 8, 2025, prior to the briefing [5][6]. Group 4: Participation Details - The briefing will feature key personnel including the Chairman, President, and CFO, who will address investor inquiries during the session [5][6]. - Investors can access the briefing online and view the main content afterward on the Shanghai Stock Exchange Roadshow Center website [6].

Group 1 - The stock price of Fangyuan Co., Ltd. closed at 5.74 yuan on August 27, down 4.81% from the previous trading day, with a trading volume of 164,300 lots and a transaction amount of 97 million yuan [1] - Fangyuan Co., Ltd. primarily engages in the research, production, and sales of lithium battery cathode material precursors, which are widely used in the power batteries of new energy vehicles [1] - The company reported a net profit attributable to shareholders of -149 million yuan for the first half of the year, which is a significant increase in loss compared to -66.19 million yuan in the same period last year [1] Group 2 - On August 27, the net outflow of main funds was 2.381 million yuan, with a cumulative net outflow of 8.1973 million yuan over the past five trading days [1]

广东芳源新材料集团股份有限公司 关于召开 2025 年半年度业绩说明会的公告 | 证券代码：688148 | 证券简称：芳源股份 | 公告编号：2025-045 | | --- | --- | --- | | 转债代码：118020 | 转债简称：芳源转债 | | 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： 会议召开时间：2025 年 9 月 9 日（星期二）16:00-17:00 会 议 召 开 地 点 ： 上 海 证 券 交 易 所 上 证 路 演 中 心 （ 网 址 ： https://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络互动 投资者可于 2025 年 9 月 2 日（星期二）至 9 月 8 日（星期一）16:00 前 登录上证路演中心网站首页点击"提问预征集"栏目或通过公司邮箱 fyhb@fangyuan-group.com 进行提问。公司将在说明会上对投资者普遍关注的问 题进行回答。 广东芳源新材料集团股份有限公司（以下简称"公司"）已于 2025 年 ...