在全球OLED产业向中大尺寸应用加速拓展的背景下，此次募资不仅将强化公司在核心材料领域的产能 优势，更将为我国显示产业关键材料自主可控注入新动能。 长江商报记者注意到，作为技术驱动型企业，奥来德长期保持高强度研发投入。2021年—2025年前三季 度，公司研发投入累计达到5.63亿元。 拟募资3亿聚焦核心材料 11月26日，奥来德披露定增预案，公司拟募资不超过3亿元，扣除发行费用后的募集资金将投资于 OLED显示核心材料PSPI材料生产基地项目并补充流动资金。本次定增以简易程序进行，发行对象将不 超过35名，发行价格不低于定价基准日前二十个交易日公司股票交易均价的80%。 其中，本次定增的重头戏即"PSPI材料生产基地项目"，该项目总投资额为2.4亿元，拟使用募集资金2.4 亿元。 长江商报消息 ●长江商报记者 张璐 国内OLED产业链上游龙头企业奥来德（688378.SH）加码OLED核心材料PSPI布局。 11月26日，奥来德公告，公司拟以简易程序向特定对象发行股票，募集资金总额不超过3亿元，将用于 OLED显示核心材料PSPI材料生产基地项目以及补充流动资金。 受行业转型的阶段性影响，奥来德业绩出现短期 ...

Core Viewpoint - Aolaide (688378.SH) has disclosed a plan to issue shares to specific investors through a simplified procedure, aiming to raise funds not exceeding RMB 300 million for core material production and working capital [1][2]. Summary by Sections Share Issuance Plan - The share issuance will target no more than 35 specific investors, including qualified institutional investors and other legal entities [1]. - The issuance price will be set at no less than 80% of the average trading price over the last 20 trading days prior to the issuance date [1][2]. - The type of shares to be issued is domestic listed ordinary shares (A-shares) with a par value of RMB 1.00 per share [2]. Fundraising Details - The total amount to be raised is capped at RMB 299.71 million, which will be allocated to the OLED core material PSPI production project and to supplement working capital [2][3]. - The total investment for the PSPI production project is RMB 239.86 million, with RMB 239.71 million expected to be funded from the issuance [3]. Shareholder Structure - As of the announcement date, the major shareholders include Xuan Jingquan (21.84%), Xuan Lingyi (9.61%), and Li Jixuan (0.92%), who collectively control 33.39% of the company [4]. - The issuance will not change the control of the company, as the major shareholders will still retain significant influence post-issuance [4]. Previous Fundraising Activities - Aolaide previously withdrew an application for a simplified share issuance and plans to resubmit it, citing regulatory considerations and business development plans [5]. - The company has raised a total of RMB 1.235 billion from two previous fundraising rounds [7]. Financial Performance - For the third quarter of 2025, Aolaide reported revenue of RMB 108 million, a decrease of 11.21% year-on-year, and a net profit of RMB 4.35 million, down 53.90% [8]. - In 2024, the company achieved revenue of RMB 533 million, a 3.00% increase, but net profit decreased by 26.04% [9].

Key Points - The announcement highlights various corporate activities including partnerships, contracts, and share buybacks [1][2] - Notable companies mentioned include 实达集团, 北大医药, and 福建高速, among others [1][2] Group 1: Company Announcements - 实达集团 has not engaged in any business cooperation with 阿里云 [1] - 北大医药's related flu medication has not yet been organized for production and sales [1] - 福建高速 plans to invest 180 million yuan in the capital increase project of 海峡保险 for 2025 [1] Group 2: Contracts and Projects - 圣晖集成 has signed daily operational contracts worth 278 million yuan [1] - 广电运通 is undertaking the construction of an artificial intelligence application pilot base [1] - 江海股份 intends to jointly establish a research institute with related parties [1] Group 3: Equity Transactions - 华峰铝业 plans to acquire 100% equity of 华峰普恩 for 100 million yuan [1] - 海南高速's subsidiary intends to acquire 51% equity of 海南华特 [1] - 阿拉丁 plans to purchase 35% equity of 佑科 for 61.25 million yuan, enhancing its product line in general analytical instruments [1] Group 4: Share Buybacks and Reductions - 东方创业 intends to repurchase company shares worth 50 million to 100 million yuan [2] - 上海机电 plans to buy back between 10.2274 million and 20.4548 million shares [2] - 南方精工's actual controller's concerted party plans to reduce holdings by no more than 2.54% [2]

Group 1 - The Ministry of Commerce of China and the European Commission discussed semiconductor supply chain issues, emphasizing the need for constructive communication between ASML Netherlands and ASML China to stabilize the global semiconductor supply chain [2] - Vanke faced a significant decline in both stock and bond markets, with some bonds dropping over 35% and the stock price nearing historical lows, prompting a meeting regarding bond extension [2] - The Chinese government instructed domestic airlines to reduce flights to Japan before March 2026, reflecting ongoing diplomatic tensions [3] Group 2 - Six departments in China released a plan to enhance the adaptability of consumer goods supply and demand, aiming for a significant optimization of the supply structure by 2027 [3] - The National Development and Reform Commission announced a new management method for credit repair, effective from April 2026, categorizing dishonest information into three levels [3] - The A-share market saw fluctuations, with the Shanghai Composite Index closing down 0.15%, while the Shenzhen Component Index and the ChiNext Index recorded gains [4] Group 3 - Li Auto reported a 36.2% year-on-year decline in Q3 revenue, with an adjusted net loss of 360 million yuan, and projected a further decline in Q4 revenue [5] - The insurance sector welcomed new funds into long-term investment trials, with a new private equity fund entering operation [4] - The Chinese Nonferrous Metals Industry Association opposed the zero or negative processing fees in the copper smelting industry, calling for better management of copper smelting capacity [8] Group 4 - The medical device market in China is expected to reach 1.22 trillion yuan by 2025, with a significant increase in the number of production enterprises [9] - The financial support plan in Guangdong aims to facilitate industry chain integration and improve the quality of listed companies [8] - The Hong Kong stock market saw a net sell-off of 39.52 billion HKD by southbound funds, with notable movements in major tech stocks [4]

Focus 1: Jianlong Micro-Nano (688357) - The company has terminated the planning of a major asset restructuring, which was intended to acquire at least 51% of Shanghai Hanxing Energy Technology Co., Ltd. through cash payment for equity [1] Focus 2: Industrial Fulian - The company has adjusted the maximum repurchase price for its shares from 19.36 yuan per share to 75.00 yuan per share, reflecting confidence in its future development and market conditions [2] Focus 3: *ST Dongtong - The company received a prior notice from the Shenzhen Stock Exchange regarding the proposed termination of its stock listing [3] Focus 4: Fundraising & Restructuring - Aolaide plans to raise up to 299.71 million yuan through a simplified procedure for issuing shares to specific targets, with proceeds allocated for OLED display core material production and working capital [4] - Maigemi has received approval from the Shenzhen Stock Exchange for its application to issue shares to specific targets, meeting all necessary conditions [4] - Su Yan Jingshen has also received approval for its share issuance application, pending final registration with the China Securities Regulatory Commission [4] Focus 5: Important Matters - Baiao Chemical's major shareholders are transferring a total of 10% of the company's shares to Liu Hongjun, resulting in him holding 10% of the total share capital post-transfer [5][6] - Zhejiang Pharmaceutical is planning to spin off its subsidiary for a listing on the Hong Kong Stock Exchange, which will not affect its control over the subsidiary [6] - Huafeng Aluminum is acquiring 100% of Shanghai Huafeng Puen Polyurethane Co., Ltd. for 100.06 million yuan, which will enhance its operational efficiency and market competitiveness [7] Focus 6: New Investments - Fuda Co. is establishing a wholly-owned subsidiary with an investment of 30 million yuan to enhance its forging business and related manufacturing capabilities [8] - Jianghai Co. is forming a joint venture to establish an innovation research institute with a registered capital of 50 million yuan, focusing on strategic technology research [9][10] Focus 7: Capital Market Activities - Zhongshan Bank has issued 60 billion yuan of subordinated debt with a fixed interest rate of 2.16% for a term of 10 years [17] - China Iron and Steel Group plans to increase its stake in China Iron and Steel Co. by investing between 65 million and 130 million yuan over the next six months [18]

Core Viewpoint - Aolide (688378) plans to invest in the construction of an OLED display core material PSPI material production base project to accelerate the domestic substitution process of key OLED materials [1][2] Group 1: Investment and Project Details - The company intends to raise approximately 300 million yuan through a private placement to fund the PSPI material production base project and supplement working capital [1] - The total investment for the PSPI material production base project is 240 million yuan, with an expected construction period of three years [1] - The project aims to alleviate current site constraints, enhance production capacity, and improve production efficiency for PSPI products [1][3] Group 2: Market Demand and Growth Potential - PSPI, or photosensitive polyimide, is a critical material in the manufacturing process of OLED displays, and its demand is expected to increase due to the expansion of the OLED downstream application market and the construction of domestic 8.6-generation OLED large-size panel production lines [1][2] - According to QYResearch, the global PSPI market size is projected to grow from 677 million USD in 2024 to 3.181 billion USD by 2031, with a compound annual growth rate (CAGR) of 25.1% [1] Group 3: Competitive Landscape and Company Position - Currently, foreign companies such as Toray, Fujifilm, Asahi Kasei, and HDM dominate the global PSPI material market, leading to challenges such as long procurement cycles and high prices for imported materials [2] - Aolide has achieved a comprehensive layout of OLED terminal light-emitting materials and has focused on high-performance PSPI materials as a key research and development project [2] - The company has successfully completed the entire development process for PSPI materials, achieving mass production and validation with major panel manufacturers [2] Group 4: Financial Projections and Business Synergy - The project is expected to generate approximately 382.5 million yuan in revenue and 57.51 million yuan in net profit in its first year of production [3] - Aolide anticipates that the project will significantly enhance its PSPI material mass production capacity and market supply capability, reducing reliance on imports and mitigating supply chain disruption risks [3]

Group 1: Storage Market Dynamics - The storage spot market is experiencing strong demand, leading to continued price increases for finished products, despite high prices [1] - Customers with low inventory levels are gradually accepting new pricing agreements, providing manufacturers with confidence to raise prices [1] - The significant price increases are affecting retail markets, with online and offline retailers raising prices for memory modules and SSDs, potentially reducing consumer purchasing willingness [1] Group 2: DRAM Industry Forecast - According to TrendForce, the DRAM industry revenue is expected to grow by 30.9% quarter-on-quarter in Q3 2025, reaching $41.4 billion due to rising contract prices and increased shipment volumes [1] - The fourth quarter is anticipated to see a significant increase in contract prices, with conventional DRAM prices expected to rise by 45%-50% [1] - The overall contract prices for conventional DRAM and HBM combined are projected to increase by 50%-55% [1] Group 3: Medical Device Market Growth - The Chinese medical device market is projected to reach ¥1.22 trillion by 2025, with over 33,000 production enterprises expected by the end of 2024, marking a 27.8% increase from the end of the 13th Five-Year Plan [2] - The industry is transitioning from "catching up" to "running alongside and leading," supporting the "Healthy China" strategy [2] Group 4: Flu Season Impact on Pharmaceuticals - The flu season has started early in China, with a 237% increase in sales of Oseltamivir over the past week, and a 180% increase for Maviral [2] - The peak of the flu season is expected between mid-December and early January [2] Group 5: Cinema Industry Growth - As of October 2023, China has added 233 cinemas and 1,588 screens, totaling 15,438 operating cinemas and 92,556 screens nationwide [3] - County-level cinemas account for 21.06% of the total, while town cinemas make up 18.01% [3] Group 6: Innovations in Medical Technology - Novo Nordisk's Kyinsu, the world's first weekly insulin and GLP-1 receptor agonist combination, has been approved in the EU for adults with type 2 diabetes [3] - This innovation represents a significant advancement in diabetes treatment options [3] Group 7: Corporate Developments - Allianz Partners plans to lay off 1,500 to 1,800 employees over the next 12-18 months, primarily in call center roles due to automation [5] - Novartis announced plans to cut up to 550 jobs in Switzerland by the end of 2027 as part of production adjustments [5]

Core Viewpoint - Aolide (688378.SH) plans to raise funds through a simplified procedure for a specific audience, with a total fundraising amount not exceeding 299.71 million yuan, which is capped at 30 million yuan and 20% of the net assets at the end of the previous year [1] Fundraising Details - The funds raised will be allocated to the OLED display core material PSPI material production base project and to supplement working capital [1]

Group 1 - The company, Aolide, announced a stock issuance plan authorized by the 2024 annual shareholders' meeting, aiming to raise up to approximately 300 million yuan [1] - The stock issuance will target no more than 35 specific investors, with the issuance price set at no less than 80% of the average trading price over the previous 20 trading days [1] - The raised funds will be allocated to two main projects: the OLED display core material PSPI production base project with a total investment of about 240 million yuan, and a working capital project with an investment of 60 million yuan [1] Group 2 - As of the latest report, Aolide's market capitalization stands at 6.1 billion yuan [2] - For the year 2024, Aolide's revenue composition is as follows: 68.15% from the chemical raw materials and chemical products manufacturing industry (C26), 31.76% from the specialized equipment manufacturing industry (C35), and 0.1% from other businesses [1]

Group 1 - Aolide plans to raise no more than 300 million yuan through a simplified procedure for issuing shares to specific targets, with net proceeds allocated to the production base project for OLED display core materials and to supplement working capital [1] - Wanbang's subsidiary has obtained a 10-year exclusive agency for sildenafil oral suspension, which is suitable for patients with swallowing difficulties [2] - Titan Technology and its affiliate plan to jointly invest in increasing capital for its subsidiary, Micro Detection, raising its registered capital from 10 million yuan to 50 million yuan [3] Group 2 - Jindike will not issue new batches of quadrivalent influenza virus split vaccine this year, having produced approximately 1.56 million doses [4] - Aladdin intends to purchase 35% equity of Youke for 61.25 million yuan, funded by its own or raised capital [5] - Gujia Home's application for a private placement of A-shares has been approved by the Shanghai Stock Exchange [7] Group 3 - Honghe Technology's application for a private placement of A-shares has been approved by the China Securities Regulatory Commission [9] - Guangdian Yuntong has won contracts totaling 308 million yuan for the construction of an artificial intelligence application pilot base [10] - Shanghai Mechanical plans to repurchase B-shares worth no more than 278 million yuan [11] Group 4 - Weiling Co. is planning a change of control, with shares representing 7.76% of the total being transferred [14] - Jiugang Hongxing intends to invest 200 million yuan to establish a wholly-owned subsidiary focusing on high-quality special steel materials [16] - Zhongjian Technology has submitted an application for H-share listing [17] Group 5 - Sainuo Medical has received registration approval for its coronary product in Pakistan [18] - Huafeng Aluminum plans to acquire 100% equity of Huafeng Puen for 100 million yuan [20] - Fuda Co. intends to establish a wholly-owned subsidiary with an investment of 30 million yuan [22] Group 6 - Su Yan Jingshen's application for a private placement of shares has been approved by the Shanghai Stock Exchange [24] - Zhongchuang Co. has set the inquiry transfer price at 25.75 yuan per share [25] - Jinpu Garden has had a lawsuit involving 26.557 million yuan accepted by the court [29] Group 7 - ICBC has approved the appointment of Zhao Guid as vice president [30] - Betta Pharmaceuticals has had its drug registration application for ensartinib accepted [32] - Times New Materials plans to invest 6 million euros to establish a wholly-owned subsidiary in Serbia [34] Group 8 - China State Construction has appointed Chen Yong as vice president [36] - Dayang Electric plans to invest 10 million yuan to establish an industrial fund [38] - Advanced Digital has appointed Liu Zhigang as deputy general manager [39] Group 9 - Tianqi Co. plans to transfer 7% equity of Youqi Intelligent for 130 million yuan [40] - Xinguo has submitted an application for H-share issuance and listing [42] - Jinhongshun's shareholder has terminated a share reduction plan [43] Group 10 - Wanrun Co.'s actual controller plans to increase shareholding between 365 million yuan and 730 million yuan [44] - Suzhou High-tech plans to sell 47% equity of its medical device subsidiary for 604 million yuan [45] - Huayou Cobalt's subsidiary has signed a product supply agreement with Yiwei Lithium Energy for approximately 127,800 tons of materials [47] Group 11 - China Communications has won 10 important projects totaling approximately 2.539 billion yuan [49] - Nopushin plans to raise no more than 1.45 billion yuan through a private placement [50] - Yun Aluminum plans to acquire minority stakes in three subsidiaries for a total of 2.267 billion yuan [51] Group 12 - Xiamen Tungsten plans to establish a 500 million yuan merger fund with multiple parties [52] - Aotewei has signed a contract worth approximately 700 million yuan [54] - Hemai Co.'s shareholders plan to reduce their holdings by no more than 3% [56]