Group 1 - The core viewpoint of the news is that Kaifeng Investment has conducted research on a listed company, Jianlong Micro-Nano, focusing on its significant asset restructuring and expansion into high value-added projects [1] - Jianlong Micro-Nano plans to acquire Shanghai Hanxing Energy Technology Co., Ltd. to enhance its product offerings in high value-added sectors [1] - The company has successfully launched its second phase project in Thailand, achieving an annual production capacity of 24,000 tons, which will cater to overseas markets [1] Group 2 - Jianlong Micro-Nano has decided not to adjust the conversion price during a specific period, indicating confidence in its future performance [1] - Future growth points for Jianlong Micro-Nano are expected to come from both traditional and new product markets, including industrial gas separation and adsorption drying [1] - The company is also focusing on advancing in new fields such as petrochemicals, energy chemicals, and renewable resources [1]

Group 1: Aojie Technology - Aojie Technology has made significant progress in ASIC business, RedCap chips, and 4G/5G smartphone chips [1] - The ASIC business is focused on smart wearables, edge SOC, RISC-V, and cloud inference chips, with expected substantial revenue growth by 2026 [1] - RedCap chips are commercially available in the IoT market, and the company has production capabilities for smart wearables [1] - The company has successfully commercialized 4G quad-core chips and is making steady progress in the development of 4G octa-core, 6nm 4G octa-core, and 6nm 5G octa-core chips [1] - The company plans to control the growth of period expenses and R&D expenses to no more than 15% [1] Group 2: Northern Rare Earth - The research focused on the integration prospects of the domestic rare earth industry, total control indicators, downstream demand expectations, and the heavy rare earth reserves in the Baiyun Obo mine [2] - The company believes that the domestic rare earth industry is accelerating integration under policy drivers, forming a "one south, one north" pattern to enhance international competitiveness [2] - The total control indicators for this year consider market, production, and supply-demand situations, aligning with new policy requirements [2] - Future downstream demand for rare earths is expected to grow due to green low-carbon initiatives and emerging fields [2] - The Baiyun Obo mine has heavy rare earth reserves of several hundred thousand tons [2] - The company plans to continue increasing its dividend rate to enhance stability and provide better returns to shareholders [2] Group 3: Jianlong Micro-Nano - Jianlong Micro-Nano is progressing with a major asset restructuring to acquire Shanghai Hanxing Energy Technology Co., Ltd. to expand high value-added projects [3] - The second phase of the Thailand Jianlong project has been put into production, with an annual capacity of 24,000 tons, targeting overseas markets [3] - Future growth points are expected from market expansion in traditional and new product areas, including industrial gas separation and adsorption drying [3] - The company will not adjust the conversion price during a specific period [3] Group 4: Xingye Silver Tin - The research covered the progress of Yinman Phase II, Yubang Mining expansion, and the company's development strategy [4] - Yinman Phase II has received project approval and is in communication with the government for construction permits [4] - Yubang Mining's 8.25 million ton expansion project is applying for construction permits [4] - The company focuses on silver and tin as core businesses while gradually integrating copper and gold resources [4] - The Yubang Mining expansion project is expected to produce 450 tons of silver annually upon reaching full capacity [4] - The company has established a comprehensive safety management system and emphasizes investment in safety [4] - The company has good exploration prospects for its Moroccan project [4]

Group 1 - The core viewpoint of the article highlights the recent performance and financial metrics of Jianlong Micro-Nano (688357), indicating a stock price increase of 4.74% to 31.82 yuan as of July 28, 2025, with a trading volume of 33,000 hands and a transaction amount of 104 million yuan [1] - The company reported a total operating revenue of 178 million yuan for Q1 2025, reflecting a year-on-year decrease of 7.39%, and a net profit attributable to shareholders of 25.41 million yuan, down 19.68% year-on-year [1] - The liquidity ratios of the company are strong, with a current ratio of 3.254 and a quick ratio of 2.584, while the debt-to-asset ratio stands at 38.42% [1] Group 2 - Jianlong Micro-Nano has made investments in 6 companies and participated in 400 bidding projects, showcasing its active engagement in the market [2] - The company holds 13 trademark registrations and 153 patents, indicating a robust intellectual property portfolio [2] - Additionally, Jianlong Micro-Nano has obtained 266 administrative licenses, reflecting its compliance and operational capabilities [2]

Group 1 - The company is planning a major asset restructuring by acquiring at least 51% of the shares of Shanghai Hanxing Energy Technology Co., Ltd. through cash payment [1][2] - Upon completion of the transaction, the company will become the controlling shareholder of the target company [1] - This transaction does not constitute a related party transaction and is expected to meet the criteria for a major asset restructuring as defined by the regulations [1] Group 2 - As of the date of the announcement, the company and relevant parties are actively advancing the restructuring work, with the specific plan still under careful consideration [2] - The company will continue to fulfill its information disclosure obligations in accordance with the relevant regulations [2]

| 证券代码：688357 | 证券简称：建龙微纳 | 公告编号：2025-043 | | --- | --- | --- | | 转债代码：118032 | 转债简称：建龙转债 | | 二、本次筹划重大资产重组事项的进展情况 2025 年 6 月 24 日，公司与标的公司及其股东纪志愿、吴芳及李明伟签署了 《合作意向协议》，内容详见公司于 2025 年 6 月 25 日在上海证券交易所网站 （www.sse.com.cn）披露的《洛阳建龙微纳新材料股份有限公司关于筹划重大资 产重组暨签署<合作意向协议>的提示性公告》（公告编号：2025-038）。 截至本公告披露之日，公司及有关各方正在积极推进本次重组的相关工作， 具体方案仍在谨慎筹划论证中，公司将继续按照《上市公司重大资产重组管理办 法》及其他相关规定，及时履行信息披露义务。 洛阳建龙微纳新材料股份有限公司 关于筹划重大资产重组事项的进展公告 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。 风险提示 本次交易尚处于筹划阶段，交易各方尚未签署正式的交易协议，具体交易方 ...

Core Viewpoint - The company, Luoyang Jianlong Micro-Nano New Materials Co., Ltd., reported a significant decline in revenue for 2024, with total operating income of 779 million yuan, a year-on-year decrease of 20% [1]. Revenue Composition - The main business segments, including gas separation and life health, experienced revenue declines of 16% and 58% respectively, with changes in customer structure noted [1][2]. - The company’s primary products, including medical oxygen molecular sieves and industrial oxygen molecular sieves, generated a total revenue of 615.89 million yuan, down 27.71% year-on-year, primarily due to a 32.13% drop in average selling prices despite a 6.51% increase in sales volume [2][3]. Downstream Demand and Price Changes - The demand for medical oxygen molecular sieves decreased by 54.05% due to inventory adjustments by downstream customers following a peak demand period from 2020 to 2023 [3]. - The price of lithium salt, a key raw material, fell from 538,000 yuan per ton at the beginning of 2023 to approximately 76,300 yuan per ton by the end of 2024, a decline of about 85.82%, which contributed to the reduction in selling prices [3][4]. Comparison with Industry Peers - The revenue trends of comparable companies in the industry showed a similar downward trajectory, with Jianlong Micro-Nano's revenue decline aligning with that of Wanrun Co. and others, while Zhongchumai's revenue increased due to a 68% growth in overseas sales [5][6]. - The differences in revenue growth rates among peers are attributed to variations in product structures, downstream application industries, and raw material dependencies [5][6]. Customer Structure and Sales - The company identified changes in its top five customers across different business segments, noting that three new customers entered the top five for the gas separation segment [9][10]. - The life health segment's major customers, including Yuyue Medical and Kangjuren, reported revenue declines of 22.42% and 32.02% respectively, reflecting a broader market trend of reduced demand [7][9]. Domestic vs. Overseas Revenue - In 2024, domestic sales revenue was 579.74 million yuan, down 27.23%, while overseas sales increased by 13.36% to 199.01 million yuan, driven by growth in animal feed molecular sieve sales [12][13]. - The disparity in revenue trends between domestic and overseas markets is attributed to differences in product structure and pricing strategies, with overseas sales generally yielding higher profit margins [14][16]. Cost Structure and Supplier Relationships - The company reported a 36% decrease in direct material costs, while manufacturing expenses rose by 40%, indicating a shift in cost structure due to raw material price fluctuations [17][18]. - The top five suppliers included new entrants, and the company provided details on procurement amounts and relationships, indicating a strategic shift in supply chain management [22].

Core Viewpoint - The company, Luoyang Jianlong Micro-Nano New Materials Co., Ltd., issued a correction announcement regarding its 2024 annual report, indicating that there were some incomplete disclosures, but the corrections do not affect the financial statements or the company's financial condition and operating results for 2024 [1][5]. Group 1: Risk Factors - The company has identified potential capacity digestion risks due to increased production capacity from recent projects, which may not align with market demand if the growth in the molecular sieve industry is lower than expected or if competition intensifies [1]. - Specific risks include: (1) lower than expected market growth in the molecular sieve industry; (2) intensified market competition leading to insufficient demand for core products; (3) ineffective market expansion for new products; (4) significant adverse changes in key downstream application industries; (5) changes in supply-demand dynamics due to competitors' capacity expansions; (6) inability to maintain technological, quality, customer resource, and cost advantages in a competitive market [1]. Group 2: Financial Metrics - The company reported a basic earnings per share of 0.75 yuan for 2024, a decrease of 50.98% from 1.53 yuan in 2023 [2]. - The diluted earnings per share for 2024 was 0.68 yuan, down 53.10% from 1.45 yuan in 2023 [2]. - The weighted average return on net assets was 4.14% for 2024, down from 9.06% in 2023, representing a decrease of 4.75 percentage points [4]. - The proportion of R&D investment to operating income increased by 0.24 percentage points [2]. - The total R&D investment for the year was 35,347,945.44 yuan, a decrease of 22.79% compared to the previous year [4][5]. Group 3: Other Information - The company expressed regret for any inconvenience caused to investors due to the corrections and emphasized its commitment to improving the quality of information disclosure [6].

Core Viewpoint - The company, Jianlong Micro-Nano, reported a significant decline in revenue for 2024, with total operating income of 779 million yuan, a year-on-year decrease of 20%. The decline is attributed to changes in product and customer structure, particularly in the gas separation and life health business segments, which saw revenue drops of 16% and 58% respectively [1][3]. Revenue Composition - The company's main business segments contributed a total revenue of 678.66 million yuan, accounting for 87.15% of total operating income. The primary products include medical oxygen molecular sieves, industrial oxygen molecular sieves, industrial hydrogen molecular sieves, and adsorption drying molecular sieves, which collectively generated 615.89 million yuan, representing 79.09% of total revenue [2][3]. - The medical oxygen molecular sieve segment experienced a revenue drop of 69.31% compared to 2023, primarily due to a 54.05% decrease in sales volume and a 33.21% decline in average selling price [4][3]. Downstream Demand and Market Trends - The decline in demand for medical oxygen molecular sieves is linked to a post-pandemic inventory adjustment by downstream customers, leading to reduced purchasing activity. The price of lithium salt, a key raw material, fell by approximately 85.82%, further impacting product pricing [3][4]. - The industrial oxygen molecular sieve segment's revenue decline is influenced by reduced capital expenditures in traditional industries such as steel and metallurgy, which saw a 1.7% decrease in crude steel production in 2024 [4][5]. Comparison with Industry Peers - The revenue trends of Jianlong Micro-Nano align with those of comparable companies in the industry, such as Wanrun and Zhongchumai, which also reported declines. However, Zhongchumai's revenue increased due to a 68% growth in overseas sales, contrasting with Jianlong's domestic revenue drop of 27.23% [5][10]. - The differences in revenue performance among peers are attributed to variations in product structure, downstream application industries, and raw material dependencies [5][10]. Customer Structure and Sales Dynamics - The company identified changes in its top five customers across different business segments, noting the presence of new customers and shifts in purchasing behavior. The sales amounts and relationships with these customers were detailed, indicating a need for strategic adjustments in response to market dynamics [10][12]. - The company’s overseas sales reached 199 million yuan, a 13.36% increase year-on-year, while domestic sales fell to 579 million yuan, a decrease of 27.23%. This disparity is attributed to differences in product structure and pricing strategies between domestic and international markets [14][15]. Gross Margin Analysis - The gross margin for overseas sales was 34%, which is 6.91 percentage points higher than that for domestic sales. This difference is due to the company's differentiated pricing strategies based on market characteristics [14][16]. - The competitive landscape in the domestic market is more intense, leading to price sensitivity among customers, which has pressured overall gross margins [16][15]. Audit and Revenue Verification - The company’s external auditor conducted a thorough review of the authenticity of overseas revenue, verifying 69.44% of the reported overseas sales through various documentation and customer confirmations [18][19].

立信会计师事务所（特殊普通合伙） 关于洛阳建龙微纳新材料股份有限公司 2024 年年度报告的信息披露监管问询函的回复 信会师报字[2025]第 ZB11609 号 上海证券交易所科创板公司管理部： 贵部于近日下发的《关于洛阳建龙微纳新材料股份有限公司2024 年年度报告的信息披露监管问询函》（以下简称"问询函"）已收悉。 立信会计师事务所（特殊普通合伙）（以下简称"会计师""立信会计 师"或"申报会计师"）作为洛阳建龙微纳新材料股份有限公司（以 下检查"建龙微纳"或"公司"）的 2024 年报审计机构对问询函中涉 及会计师的问题进行了审慎核查，具体回复内容如下： 如无特别说明，本核查意见中的简称和释义与《洛阳建龙微纳新 材料股份有限公 2024 年年度报告》中的简称和释义具有相同含义。 在本核查意见中，若合计数与各分项数值相加之和或相乘在尾数上存 在差异，均为四舍五入所致。 （3）结合产品结构、客户类型、定价策略等，说明境内外收入变动方向不 一致的原因，境外销售毛利率高于境内销售毛利率的原因及合理性； 一、公司回复 1 问题一、关于收入构成 年报披露：（1）本期营业收入为 7.79 亿元，同比下滑 20%；本 ...

| 证券代码：688357 | 证券简称：建龙微纳 公告编号：2025-042 | | --- | --- | | 转债代码：118032 | 转债简称：建龙转债 | 洛阳建龙微纳新材料股份有限公司 关于 2024 年年度报告的信息披露监管问询函的 回复公告 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。 洛阳建龙微纳新材料股份有限公司（以下简称"建龙微纳"、"公司"）于近 日收到上海证券交易所科创板公司管理部下发的《关于洛阳建龙微纳新材料股份 有限公司 2024 年年度报告的信息披露监管问询函》（上证科创公函〔2025〕0227 号）（以下简称"年报问询函"）。公司高度重视，立即组织相关人员及持续督导 机构广发证券股份有限公司（以下简称"持续督导机构"）、年审会计师立信会计 师事务所（特殊普通合伙）（以下简称"年审会计师"）对年报问询函涉及的问题 逐项进行核实与确认，现回复如下： 问题一、关于收入构成 年报披露：（1）本期营业收入为 7.79 亿元，同比下滑 20%；本期公司产品 销售结构和客户结构同比发生较大变化，气体 ...