Core Viewpoint - Pan-Asia Microelectronics (688386) has received approval from the Shanghai Stock Exchange for a targeted stock issuance, aiming to raise approximately 699 million yuan through the issuance of up to 27.3 million shares [1] Fundraising Details - The total investment for the projects funded by the raised capital amounts to 886.35 million yuan, with the following allocations: - Intelligent manufacturing upgrade and expansion project for dew point controllers (CMD): Total investment of 212.88 million yuan, with 119.35 million yuan from the raised funds [1] - Low dielectric loss FCCL flexible copper-clad laminate project: Total investment of 260.18 million yuan, with 215.75 million yuan from the raised funds [1] - R&D center construction project: Total investment of 204.29 million yuan, with 154.41 million yuan from the raised funds [1] - Supplementing working capital: Total investment of 209 million yuan, with the entire amount sourced from the raised funds [1] - The total amount of funds to be raised is 699 million yuan, which will be allocated across the aforementioned projects [1]

Core Viewpoint - Pan-Asia Micro-Porous Technology Co., Ltd. experienced a 5.03% decline in stock price, trading at 78.67 CNY per share, with a market capitalization of 7.159 billion CNY as of October 14 [1] Company Overview - Pan-Asia Micro-Porous Technology, established on November 8, 1995, is located in Changzhou, Jiangsu Province, China. The company specializes in the research, production, and sales of expanded polytetrafluoroethylene (ePTFE) membranes and other micro-porous materials [1] - The revenue composition of the company includes: ePTFE micro-porous products (35.76%), CMD (14.94%), seals (13.74%), aerogels (11.07%), gas management products (9.18%), sound insulation products (6.63%), water-blocking membranes (5.01%), wiring harnesses (2.98%), and others (0.69%) [1] Shareholder Information - The top circulating shareholder of Pan-Asia Micro-Porous is a fund under Huatai-PineBridge, specifically the Huatai-PineBridge Growth Focus Mixed Fund (519068), which entered the top ten circulating shareholders in the second quarter with 1.2096 million shares, representing 1.33% of circulating shares [2] - The fund has a total asset size of 2.851 billion CNY and has achieved a year-to-date return of 20.37%, ranking 4429 out of 8162 in its category [2] Fund Performance - The fund manager of Huatai-PineBridge Growth Focus Mixed Fund is Chen Xiaoyang, who has been in the position for 3 years and 289 days. The fund's best return during this period was -31.44% [3] - The fund holds 1.2096 million shares of Pan-Asia Micro-Porous, accounting for 2.3% of the fund's net value, making it the fifth-largest holding [4]

Core Viewpoint - Jiangsu Panya Micro透 Technology Co., Ltd. (referred to as "the company") held its ninth meeting of the fourth board of directors on September 25, 2025, where several resolutions regarding the issuance of A-shares to specific targets and changes in fundraising project names were approved, ensuring no harm to shareholder interests [1][2][5]. Group 1: Meeting and Resolutions - The meeting was convened with all nine directors present, and the resolutions passed were deemed legal and effective [1][3]. - The board approved the change of names for certain fundraising projects, which will not affect the implementation progress or the content of the projects [2][4]. - The resolutions regarding the issuance of A-shares and related documents were reviewed and approved by the independent directors in a prior meeting [5][7]. Group 2: Fundraising and Project Adjustments - The company plans to adjust the names of certain fundraising projects to align with actual project filings, with no changes to the project content or implementation methods [2][22]. - The revised plan for the issuance of A-shares and the feasibility analysis report were also approved, confirming that the changes do not harm shareholder interests [5][12][14]. Group 3: Financial Impact and Measures - The company conducted an analysis of the potential dilution of immediate returns due to the issuance of new shares and proposed measures to mitigate this impact [28][41]. - The company emphasized the importance of managing the raised funds effectively and ensuring compliance with relevant regulations to protect shareholder interests [41][44]. Group 4: Governance and Management - The company has made governance adjustments, including the resignation of a non-independent director and the election of a staff representative director, to enhance its governance structure [46][48]. - The new governance structure is expected to maintain the board's operational efficiency and not adversely affect the company's daily operations [48][49].

Core Viewpoint - *ST Tianmao's stock will be delisted from the Shenzhen Stock Exchange, with the decision effective immediately, and the stock will be removed within five trading days [1][2]. Group 1: Delisting Announcement - On September 25, *ST Tianmao received a notice from the Shenzhen Stock Exchange regarding the termination of its stock listing [1]. - The stock will not enter a delisting transition period and will be delisted within five trading days from the announcement [2]. Group 2: Shareholder Meeting and Cash Option - On August 25, *ST Tianmao held an extraordinary general meeting where shareholders approved the decision to voluntarily terminate the stock listing [5]. - The company initiated a cash option mechanism to protect investors, allowing eligible A-share shareholders to exercise cash options at a price of 1.60 yuan per share, with a total of 1,442,279,537 cash options effectively declared during the application period [5]. - The total funding required for the cash options is approximately 2.3 billion yuan [5]. Group 3: Post-Delisting Arrangements - After delisting, *ST Tianmao's shares will be transferred to the National Equities Exchange and Quotations system for trading [6]. - The company has appointed Changcheng Guorui as the agency to manage the share transfer services [6].

Group 1: Strategic Restructuring - Pingmei Shenma and Shenneng Group announced plans for strategic restructuring by the controlling shareholders, which will not significantly impact their operations [1][1] - The restructuring will not change the controlling shareholders or the actual controllers of either company [1][1] Group 2: Capital Increase - Ganfeng Lithium plans to introduce investors for a capital increase of up to 2.5 billion yuan for its subsidiary, Ganfeng Lithium Technology [2] - The capital increase will be priced at 3 yuan per 1 yuan of registered capital, and the company will waive its preferential subscription rights [2] Group 3: Stock Trading Suspension - Upwei New Materials' stock has been suspended for verification due to multiple instances of abnormal trading fluctuations [3] - The company will conduct an investigation into the trading volatility and will resume trading after the verification process [3] Group 4: Earnings Forecast - Jihong Co. expects a net profit of 209 million to 222 million yuan for the first three quarters of 2025, representing a growth of 55% to 65% year-on-year [4] - The growth is attributed to significant increases in revenue and profit from cross-border social e-commerce and improved operational efficiency in the packaging business [4] Group 5: Fundraising and Projects - Hanyu Pharmaceutical plans to raise up to 968 million yuan through a private placement for various projects including peptide drug production and R&D upgrades [5] - Water Development Gas received acceptance for its securities issuance application from the Shanghai Stock Exchange [6] Group 6: Important Transactions - Tianqi Model's controlling shareholders signed a share transfer agreement to transfer 162 million shares, which will change the controlling shareholder to Jianfa Wanyu [7] - The transaction is expected to lead to a change in the actual controller to the Urumqi Economic and Technological Development Zone State-owned Assets Supervision and Administration Commission [7] Group 7: Investment Projects - Dongfang Yuhong signed an investment agreement to invest 600 million yuan in a new materials industry chain project in Nanning, Guangxi [9] - The project includes mining, processing, and product development [9] - Changqing Group plans to invest 571 million yuan in the second phase of its cogeneration project in Maoming [9]

证券日报网讯 9月25日晚间，泛亚微透发布公告称，公司于2025年9月25日召开职工代表大会，经全体 与会职工代表表决，选举陈宇峰先生为公司第四届董事会职工代表董事。 （文章来源：证券日报） ...

Major Events - China Merchants Energy announced the delivery of two new vessels, including a 175,000 cubic meter LNG carrier "Haiyun" and an 82,000-ton bulk carrier "Mingfu," expanding its fleet to 27 LNG vessels and 103 bulk carriers, with 37 and 15 orders respectively [4][4] - Fangzheng Technology launched three AI English learning products, marking a strategic expansion into the emotional companionship and family smart education sectors for young children [5] - Saisir received approval from the China Securities Regulatory Commission to issue up to 331 million H-shares for listing on the Hong Kong Stock Exchange [6] Performance Forecasts - Jihong Co. expects a net profit of 209 to 222 million yuan for the first three quarters of 2025, representing a year-on-year increase of 55% to 65%, driven by the growth of cross-border social e-commerce and improved profitability in packaging [7] Major Contracts - State Grid Information Communication announced that its subsidiary won a procurement project from the State Grid Corporation worth 605 million yuan [8] - China Railway announced it has won 11 major engineering projects with a total bid price of approximately 50.215 billion yuan, accounting for 4.34% of its expected revenue for 2024 [9] - Dongjie Intelligent signed a framework agreement with Malaysian construction company PTTSG to develop automated warehousing facilities, with potential future contracts [10] Shareholding Changes - Milkway announced that its controlling shareholder and other stakeholders plan to reduce their holdings by up to 4.02% [12] Financing Activities - Pana Microelectronics plans to raise up to 699 million yuan through a private placement to fund various projects, including intelligent manufacturing upgrades and working capital [13]

目 录 一、最近三年及一期非经常性损益的鉴证报告……………………第 1—2 页 二、最近三年及一期非经常性损益明细表…………………………第 3—4 页 三、最近三年及一期非经常性损益明细表附注………………… 第 5—10 页 四、附件 ………………………………………………………… 第 11—14 页 （一）本所营业执照复印件……………………………………………第 11 页 （二）本所执业证书复印件 ………………………………………… 第 12 页 （三）签字注册会计师证书复印件………………………………第 13—14 页 关于江苏泛亚微透科技股份有限公司 天健审〔2025〕14165 号 江苏泛亚微透科技股份有限公司全体股东： 我们审核了后附的江苏泛亚微透科技股份有限公司（以下简称泛亚微透公司） 管理层编制的最近三年及一期非经常性损益明细表（2022－2024 年度以及 2025 年 1－6 月）及其附注（以下简称非经常性损益明细表）。 一、对报告使用者和使用目的的限定 本鉴证报告仅供泛亚微透公司向特定对象发行股票时使用，不得用作任何其 他目的。我们同意本鉴证报告作为泛亚微透公司向特定对象发行股票的必备文件， 随同 ...

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、准确性和完整性承担个别及连带责任。 重要内容提示： 江苏泛亚微透科技股份有限公司（以下简称"公司"）董事会近日收到公 司非独立董事陈宇峰先生提交的《辞职报告》。基于公司治理结构优化调整，陈 宇峰先生申请辞去第四届董事会非独立董事职务，辞职后仍在公司担任其他职务。 2025年9月11日，公司 2025年第二次临时股东会审议通过了《关于取消监 事会、修订<公司章程>并办理工商登记的议案》。根据修订后《公司章程》的规 定，公司设职工代表董事 1 名，由公司职工代表大会选举产生。2025年9月25 日，公司召开职工代表大会选举陈宇峰先生为公司第四届董事会职工代表董事， 任期自职工代表大会选举之日起至公司第四届董事会任期届满之日止。 | | | | | | 是否继续 在上 市公 | | 是否存在未 | | --- | --- | --- | --- | --- | --- | --- | --- | | 姓名 | 离任职务 | 离任时间 | 原定任期 到期日 | 离任原因 | 司及其控 | 具体职务 （如适用） | 履 ...

江苏泛亚微透科技股份有限公司 关于2025年度向特定对象发行股票预案修订说明的公告 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、准确性和完整性承担个别及连带责任。 江苏泛亚微透科技股份有限公司（以下简称"公司"）2025 年度向特定对象 发行股票的相关事项已经公司第四届董事会第八次会议、2025 年第二次临时股 东会审议通过。2025 年 9 月 25 日，公司召开第四届董事会第九次会议，审议通 过了《关于部分募投项目变更名称的议案》等相关议案。为确保募集资金投资项 目名称与公司实际取得项目备案文件保持一致，公司拟对本次募集资金投资项目 的名称进行调整，并对预案文件进行了相应修订。 根据公司 2025 年第二次临时股东会的授权，本次修订预案无需另行提交公 司股东会审议。《江苏泛亚微透科技股份有限公司 2025 年度向特定对象发行股票 预 案 （ 修 订 稿 ）》 等 相 关 文 件 及 公 告 已 在 上 海 证 券 交 易 所 网 站 (http://www.sse.com.cn)披露，敬请广大投资者注意查阅。 | 预案章节 | 涉及内容 | 修订情 ...