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]

Core Viewpoint - Chengdu Xian Dao Pharmaceutical Development Co., Ltd. has announced the termination of its major asset restructuring plan due to the inability to reach consensus on core terms with the counterparty [1][4]. Summary by Sections 1. Basic Situation of the Major Asset Restructuring - The company intended to acquire approximately 65% of the shares of Nanjing Haina Pharmaceutical Technology Co., Ltd. through a cash transaction, which would have made it the controlling shareholder of the target company [1][2]. 2. Main Work During the Restructuring Process - The company engaged professional intermediaries for due diligence and conducted multiple rounds of negotiations regarding the transaction plan, price, and performance commitments, while adhering to regulatory disclosure obligations [2][5]. 3. Reasons for Termination of the Restructuring - The termination was agreed upon due to the failure to reach consensus on key terms such as transaction plan, price, and performance commitments, despite active efforts from both parties [4][5]. 4. Decision-Making Process for Termination - The termination of the restructuring plan did not require submission for internal board or shareholder approval as it was still in the planning stage [5]. 5. Impact of Termination on the Company - The termination will not adversely affect the company's business operations or financial status, and there are no penalties for either party as no formal agreement was signed [5][6]. 6. Commitment Matters - The company commits not to plan any major asset restructuring for at least one month following the announcement [6]. 7. Other Notes - The company emphasizes that all information should be verified through its designated disclosure media, including Shanghai Securities Journal and the Shanghai Stock Exchange website [6].

Core Insights - Chengdu XianDao Pharmaceutical Development Co., Ltd. aims to establish itself as a leading innovative biopharmaceutical company, focusing on new drug discovery and optimization, while integrating sustainable development practices into its operations [1][2][3] Company Overview - Chengdu XianDao is headquartered in Chengdu, China, with subsidiaries in Cambridge, UK, and Houston, USA, specializing in small molecule and nucleic acid drug discovery [2][3] - The company has developed a DNA-encoded compound library (DEL) technology platform, which is recognized as a global leader in the field [3][4] Sustainable Development Practices - The company has published its first sustainability report, outlining its commitment to environmental, social, and governance (ESG) principles, and aims to respond to stakeholder concerns [1][2] - Chengdu XianDao integrates sustainable development concepts into its operations, focusing on low-carbon transformation, talent development, and community welfare [2][3] Governance Structure - The company has established a robust governance framework to ensure transparency and compliance, including a board of directors with diverse expertise in the biopharmaceutical industry [5][6] - Chengdu XianDao has implemented various governance policies and procedures to enhance decision-making processes and risk management [5][6] Innovation and R&D - The company emphasizes innovation as a key driver for sustainable development, investing in technology upgrades and automation to enhance drug discovery capabilities [2][3] - Chengdu XianDao has a comprehensive training system to support employee development and foster a culture of innovation [2][5] Environmental Management - The company adheres to eco-friendly practices and has received ISO 9001 certification for its quality management system, demonstrating its commitment to environmental compliance [2][3] - Chengdu XianDao actively works to reduce its environmental impact through various measures, including resource efficiency and waste management [2][3] Stakeholder Engagement - The company has established a framework for ongoing communication with stakeholders, ensuring their concerns and expectations are addressed [7][8] - Chengdu XianDao identifies key issues through stakeholder feedback and integrates these insights into its strategic planning [7][8]

Core Viewpoint - Chengdu Xian Dao announced the termination of its major asset restructuring deal with Nanjing Haina Pharmaceutical Technology Co., Ltd. after failing to reach consensus on key terms [1][3]. Group 1: Transaction Details - Chengdu Xian Dao intended to acquire approximately 65% of Haina Pharmaceutical through a cash equity transfer [3]. - Despite signing a letter of intent and conducting due diligence, the parties could not agree on core terms such as price, management control, and future strategic direction [3]. - The termination of this deal signifies a setback for Haina Pharmaceutical's plans for an IPO, which had been under review since June 30, 2023, and was ultimately withdrawn on June 24, 2024 [4]. Group 2: Company Performance - Chengdu Xian Dao's financial performance has shown a decline since its IPO, with net profits reported as approximately 64.02 million, 63.38 million, 25.27 million, 40.72 million, and 51.36 million from 2020 to 2024 [5]. - The company's stock has experienced a decline, with a current price of 16.57 yuan per share compared to the initial offering price of 20.52 yuan [5]. - The controlling shareholder, JIN LI, plans to increase his stake in the company by investing between 25 million and 50 million yuan within the next 12 months, indicating confidence in the company's long-term value [5].

Group 1 - Longqi Technology has submitted an application for H-share issuance and listing on the Hong Kong Stock Exchange [1] - Chengdu XianDao has terminated the acquisition of approximately 65% equity in Nanjing Haina Pharmaceutical Technology Co., Ltd. due to failure to reach consensus on core terms [4] - Unigroup Guowei repurchased 775,500 shares for a total amount of 49.6173 million yuan on June 27 [5] Group 2 - Qinhuangdao State-owned Assets Supervision and Administration Commission plans to reduce its stake in Qin Port Co., Ltd. by up to 2% [2] - Magu Technology's shareholder Baolifeng intends to reduce its stake by up to 3% [3] - New Dairy's controlling shareholder plans to reduce its stake by up to 3% due to funding needs [6] Group 3 - Mindray Medical's shareholder EverUnion (H.K.) Limited plans to reduce its stake by up to 500,000 shares, representing approximately 0.41% of the total share capital [7] - Degute plans to acquire control of Haowei Technology, with trading suspended from June 30 [8]