Core Viewpoint - The acquisition of approximately 65% of Nanjing Haina Pharmaceutical Technology Co., Ltd. by Chengdu Xian Dao has been terminated due to failure to reach consensus on key terms of the transaction [1][3]. Group 1: Acquisition Details - Chengdu Xian Dao signed a share acquisition letter of intent with Haina Pharmaceutical and its controlling shareholder in March 2023, intending to become the controlling shareholder post-acquisition [2][3]. - Despite ongoing negotiations and due diligence, the parties could not agree on the transaction plan, price, counterparties, and performance commitments, leading to the termination of the acquisition [1][3]. - The company stated that the termination of the acquisition would not adversely affect its business operations or financial status [3][5]. Group 2: Strategic Implications - The acquisition aimed to expand Chengdu Xian Dao's business from upstream drug discovery to downstream services, creating a comprehensive CRDMO service system [3][4]. - The company expressed a commitment to continue seeking suitable acquisition opportunities to enhance its capabilities in drug discovery and optimization [6]. Group 3: Financial Performance - In 2024, Chengdu Xian Dao reported revenue of approximately 427 million yuan, a year-on-year increase of 14.99%, and a net profit of 51.36 million yuan, up 26.13% [7]. - For Q1 2025, the company recorded revenue of about 107 million yuan, a slight decline of 0.6%, while net profit increased by 102.9% to approximately 28.28 million yuan [7]. Group 4: Shareholder Activity - During the acquisition process, three shareholders reduced their holdings, with significant amounts sold at varying price ranges [5].

Group 1 - Chengdu XianDao announced the termination of its major asset restructuring plan to acquire a 65% stake in Nanjing Haina Pharmaceutical Technology Co., Ltd. after nearly three months of planning [1] - The acquisition was intended to create a "strong alliance" but faced disagreements on key terms such as transaction price, performance commitments, and payment methods during the due diligence phase [1] - The termination of the restructuring will not trigger any breach of contract liabilities and is stated to have no adverse impact on the company's business and financial status [1] Group 2 - Chengdu XianDao focuses on the discovery and optimization of small molecules and nucleic acid new drugs, developing an internationally leading DNA-encoded compound library (DEL) technology platform [2] - The company reported a revenue of 427 million yuan in 2024, a year-on-year increase of 14.99%, and a net profit attributable to shareholders of 51.36 million yuan, up 26.13% [2] - In the first quarter of 2025, the company maintained a steady growth trend with a revenue of 107 million yuan, a slight decrease of 0.60%, while the net profit attributable to shareholders increased by 102.90% to 28.28 million yuan [2]

Core Viewpoint - Chengdu Xian Dao Pharmaceutical Development Co., Ltd. has terminated its acquisition of Nanjing Haina Pharmaceutical Technology Co., Ltd. due to failure to reach consensus on key transaction terms, but it does not expect any adverse impact on its business operations or financial status [1][3]. Company Overview - Chengdu Xian Dao is a rapidly developing biotechnology company focused on new drug research and development, listed on the Shanghai Stock Exchange's Sci-Tech Innovation Board since April 2020 [7]. - The company has experienced revenue fluctuations post-IPO, but has shown stable growth in recent years, with projected revenues of 4.27 billion yuan for 2024, reflecting a year-on-year growth of 14.99% [7]. Financial Performance - Chengdu Xian Dao's revenue from 2020 to 2024 is reported as follows: 2.44 billion yuan, 3.11 billion yuan, 3.30 billion yuan, 3.71 billion yuan, and 4.27 billion yuan, with year-on-year changes of -7.8%, 27.69%, 5.98%, 12.64%, and 14.99% respectively [7]. - The net profit attributable to shareholders for the same period is 640.2 million yuan, 633.8 million yuan, 252.7 million yuan, 407.2 million yuan, and 513.6 million yuan, with year-on-year changes of -46.77%, -1.00%, -60.14%, 61.16%, and 26.13% respectively [7]. Shareholder Activity - Since 2024, Chengdu Xian Dao has faced frequent shareholder reductions, with a total cash-out of 294 million yuan [8]. - Specific instances of share reductions include a 1.20% stake sold for 78.98 million yuan and a 0.50% stake sold for 31.75 million yuan [9]. Nanjing Haina Pharmaceutical Overview - Nanjing Haina is focused on improved innovative drugs and high-end generic drugs, operating under a "CXO + MAH" business model [3]. - The company submitted an IPO application in June 2023, aiming to raise 850 million yuan, but its application was terminated in June 2024 due to the withdrawal of its sponsor [3][4]. Financial Performance of Nanjing Haina - Nanjing Haina's revenue from 2020 to 2023 is reported as follows: 56.82 million yuan, 168 million yuan, 271 million yuan, and 226 million yuan, with a compound annual growth rate of 118.37% from 2020 to 2022 [4]. - The net profit attributable to shareholders for the same period is -28.71 million yuan, 11.57 million yuan, 68.02 million yuan, and 73.18 million yuan [4]. - As of June 30, 2023, Nanjing Haina's undistributed profits stood at -142 million yuan [4]. Sales and Accounts Receivable - Nanjing Haina's sales expenses have increased significantly, with figures of 3.94 million yuan, 14.46 million yuan, 21.88 million yuan, and 15.41 million yuan over the same period, resulting in a sales expense ratio that is nearly double the industry average [5]. - Accounts receivable have also risen sharply, with balances of 3.01 million yuan, 20.33 million yuan, 41.85 million yuan, and 83.49 million yuan, reflecting a compound growth rate of 269.1% from 2020 to 2022 [5].

Core Viewpoint - The acquisition plan of Chengdu Xian Dao Pharmaceutical Development Co., Ltd. for 65% equity of Nanjing Haina Pharmaceutical Technology Co., Ltd. has been terminated due to disagreements on key terms such as transaction structure, price, and performance commitments [1][2][6]. Group 1: Acquisition Details - Chengdu Xian Dao signed a letter of intent to acquire 65% of Haina Pharmaceutical on March 31, 2025, which initially led to a positive market reaction with an 8.65% stock price increase [4]. - The acquisition was seen as a strategic move for Chengdu Xian Dao to transition from a DEL technology provider to a comprehensive CRDMO platform, potentially competing with major players like WuXi AppTec [6][7]. Group 2: Financial Performance - Haina Pharmaceutical reported a revenue of 271 million yuan and a net profit of 68.01 million yuan in 2022, with a net profit of 73.18 million yuan achieved in the first half of 2023 [5]. Group 3: Market Reaction - Following the announcement of the termination, Chengdu Xian Dao's stock price experienced volatility, opening at 15.70 yuan, dropping to a low of 14.96 yuan, and closing at 16.08 yuan, reflecting a decline of 0.99% [3]. Group 4: Future Outlook - Despite the termination of the acquisition, both companies expressed mutual recognition and indicated the possibility of exploring future business collaboration opportunities [7].

Core Viewpoint - Chengdu Xian Dao (688222.SH) announced the termination of a major asset restructuring plan due to the inability to reach consensus on key terms with the transaction parties, which included transaction scheme, pricing, and performance commitments [1][2]. Group 1: Termination of Major Asset Restructuring - The company disclosed that it had been actively organizing the transaction since establishing the intent with the counterparties, but failed to agree on core terms [2]. - The decision to terminate the transaction was made to protect the interests of the company and all shareholders after thorough consideration and friendly negotiations with the counterparties [2]. Group 2: Company Background and Financials - Chengdu Xian Dao was listed on the Shanghai Stock Exchange's Sci-Tech Innovation Board on April 16, 2020, with an issuance of 40.68 million shares at a price of 20.52 yuan per share [2]. - The total funds raised from the initial public offering amounted to 834.75 million yuan, with a net amount of 746.01 million yuan after deducting issuance costs, exceeding the original plan by 85.98 million yuan [2]. - The funds were intended for projects related to new molecular design and drug research center construction [2]. Group 3: Shareholding Structure - The controlling shareholder and actual controller of the company is Jin Li, who holds British nationality [3].

Group 1 - Fengcai Technology is conducting an H-share issuance with a maximum price of 120.50 HKD per share, aiming to raise funds for its specialized chip business [1] - The global offering consists of 16.3 million shares, with 1.63 million shares available for public offering in Hong Kong [1] - Zijin Mining plans to acquire the Raygorodok gold mine project in Kazakhstan for 1.2 billion USD, enhancing its resource portfolio [1][2] Group 2 - Mindray Medical's shareholder plans to reduce holdings by up to 5 million shares, approximately 0.41% of the total share capital, due to personal funding needs [3] - Degute is planning to acquire control of Haowei Technology through a combination of cash and share issuance, leading to a temporary suspension of its stock [4] - New Dairy's controlling shareholder intends to reduce its stake by up to 3% of the total share capital, also for funding purposes [5] Group 3 - Yueyang Xinchang has resumed production after completing maintenance on its main production facilities, positively impacting its operations [6] - Chengdu Xian Dao has terminated its major asset restructuring plan due to failure to reach agreement on key terms [7] - Maglev Technology's shareholder plans to reduce its stake by up to 3% of the total share capital for personal financial arrangements [9] Group 4 - Zhongyan Dadi announced a cash dividend of 2.82 CNY per 10 shares and a capital increase of 3.99 shares per 10 shares [10] - Yunda Co. plans to distribute a cash dividend of 0.6 CNY per 10 shares, totaling approximately 47.22 million CNY [12] - Victory Co. intends to distribute a cash dividend of 0.42 CNY per 10 shares, amounting to around 36.06 million CNY [13] Group 5 - Shagang Group has invested 2.67 billion CNY in financial products while planning to use up to 8 billion CNY of idle funds for further investments [14] - Jiuyuan Yinhai's subsidiary won an 8.43 million CNY project contract, constituting a related party transaction [15] - China Railway Signal & Communication has announced the resignation of a board member due to personal reasons [16] Group 6 - China Rare Earth clarified that recent management changes have not affected its operations, ensuring stability in production [17] - Qixiang Tengda plans to conduct routine maintenance on its 60,000-ton acetone plant for 60 days to enhance operational safety [19] - ST King Kong's subsidiary signed a 399 million CNY contract for computing power services, indicating growth in its service offerings [20] Group 7 - Ziguang Guowei repurchased 775,500 shares for approximately 49.62 million CNY, reflecting confidence in its market position [22] - Qin Port's major shareholder plans to reduce its stake by up to 2% of the total share capital for development needs [22] - Longqi Technology has submitted an application for H-share issuance and listing on the Hong Kong Stock Exchange, expanding its market presence [24]

Core Viewpoint - The article discusses the recent trend of A-share companies terminating major asset restructuring plans, highlighting specific cases such as Chengdu Xian Dao and Guangzhi Technology, which faced significant stock price declines following their announcements [1][4][21]. Group 1: Chengdu Xian Dao - Chengdu Xian Dao announced the termination of its acquisition of a 65% stake in Nanjing Haina Pharmaceutical due to a lack of consensus on key terms among parties involved [5][7]. - Following the announcement, Chengdu Xian Dao's stock price dropped over 3% at the opening on June 30, with a peak decline of over 6% during the morning session [1]. - In the first quarter of 2025, Chengdu Xian Dao reported a revenue of 107 million CNY, a year-on-year decrease of 0.60%, while its net profit increased by 102.90% to 28.28 million CNY [10]. Group 2: Guangzhi Technology - Guangzhi Technology also announced the termination of its acquisition of 100% of Xian Dao Electric Science, which had previously seen its stock rise significantly with eight consecutive "20cm" limit-up days [12][16]. - The company cited changes in external conditions and disagreements on commercial terms as reasons for the termination of the restructuring [16]. - Guangzhi Technology's stock price fell by over 14% following the termination announcement [1]. Group 3: Broader Market Context - Multiple A-share companies, including Chengdu Xian Dao and Guangzhi Technology, have recently announced the termination of restructuring plans, leading to market discussions about the implications of such decisions [21][22]. - Other companies like Chenghe Technology and Yuhongyuan A have also halted their restructuring efforts due to similar issues regarding agreement on core transaction terms [19][20].

Group 1: Logistics and Economic Data - In the first five months of the year, the total social logistics in China reached 138.7 trillion yuan, representing a year-on-year growth of 5.3% [1] - In May alone, the logistics growth was 5.0%, a decrease of 0.5 percentage points from the previous month, indicating a narrowing fluctuation [1] Group 2: Company News - Chengdu XianDao announced the termination of its acquisition of approximately 65% of Nanjing Haina Pharmaceutical Technology Co., Ltd. due to failure to reach consensus on core terms after extensive discussions [3] - DeGuTe plans to acquire control of Haowei Technology through a combination of share issuance and cash payment, which is expected to constitute a major asset restructuring, with stock suspension starting June 30 [4] - *ST King Kong's subsidiary signed a service agreement worth 399 million yuan for a five-year period to provide computing power services [3] - Unigroup Guowei conducted its first share buyback, repurchasing 775,500 shares at a total cost of approximately 49.62 million yuan [5] Group 3: Market Insights - Wind data indicates that 68 stocks in the A-share market will face a lock-up expiration this week, with a total of 3.165 billion shares worth approximately 81.67 billion yuan being released, marking a week-on-week increase of 46.95% [2] - The report highlights that certain companies, such as Zhongwu Drone and Dizhe Pharmaceutical-U, will see significant increases in their market float due to the release of locked shares [2] Group 4: Research Insights - Everbright Securities suggests that short-term exports may maintain high growth, with domestic consumption being a key driver for economic recovery, recommending focus on domestic demand, localization, and sectors underfunded by investment funds [6] - Zhongtai Securities recommends positioning in the bond market and dividend assets, while also highlighting opportunities in the technology sector related to AI capital expenditures, which have seen improved valuations and chip structures [6]

Group 1 - Chengdu Xian Dao announced the termination of the acquisition of approximately 65% equity in Nanjing Haina Pharmaceutical Technology Co., Ltd due to failure to reach consensus on core terms after extensive negotiations and due diligence [1] - This termination reflects potential difficulties and risks in the merger and acquisition process, which may impact market expectations for Chengdu Xian Dao's future development [1] Group 2 - The China Federation of Logistics and Purchasing reported that the medical device industry market size in China is expected to reach 1.2 trillion yuan (approximately 1.2 trillion CNY) by 2024, indicating steady growth during the 14th Five-Year Plan period [2] - The total logistics and warehousing area for medical devices in China is 23.58 million square meters, with over 40,000 self-owned vehicles for logistics transportation [2] - As of May 2025, China has approved 353 innovative medical devices, an increase of 37 compared to 2024, highlighting the growth potential in the medical device sector [2] Group 3 - The rapid growth of the medical device market in China reflects significant market potential, likely attracting more long-term investment [3] Group 4 - Mindray Medical announced that a specific shareholder, Ever Union (H.K.) Limited, plans to reduce its holdings by up to 5 million shares, representing approximately 0.41% of the total share capital [4] - Although the reduction is relatively small, it may be interpreted by the capital market as a cautious stance from the shareholder regarding the company's future development, potentially leading to short-term stock price fluctuations [4]

证券代码：688222 证券简称：成都先导 公告编号：2025-027 成都先导药物开发股份有限公司 关于终止重大资产重组的提示性公告 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、准确性和完整性依法承担法律责任。 成都先导药物开发股份有限公司（以下简称"公司"）于 2025 年 4 月 1 日披 露了《成都先导药物开发股份有限公司关于筹划重大资产重组暨签署 <股权收购> 意向书>的提示性公告》（公告编号：2025-004），拟以现金方式受让股权的方式 合计取得南京海纳医药科技股份有限公司（以下简称"标的公司"）约 65%的股 权（以下简称"本次交易"）。《股权收购意向书》签署后，公司积极组织交易各 方推进本次交易，聘请了专业的中介机构对标的公司展开尽调，在此基础上，交 易各方对本次交易方案进行多次论证和协商，但未能就本次交易事项的核心条款 达成一致意见。为切实维护公司及全体股东利益，经公司充分审慎研究并与交易 对方友好协商，交易各方一致同意终止本次交易事项，本次重大资产重组事项终 止。现就有关情况公告如下： 一、本次筹划重大资产重组的基本情况 了《股权 ...