Macro Dynamics - The National Development and Reform Commission and the Ministry of Finance announced a policy to support the scrapping and updating of vehicles starting in 2026, providing subsidies for consumers who scrap their old cars and purchase new energy vehicles or fuel vehicles with a displacement of 2.0 liters or less. The subsidy for new energy vehicles is 12% of the purchase price (up to 20,000 yuan), while for fuel vehicles, it is 10% (up to 15,000 yuan) [2] Aviation Industry - Hainan's three major airports achieved a record annual passenger throughput of over 50 million for the first time, marking a significant milestone in the development of Hainan's aviation sector amid the accelerated construction of the Hainan Free Trade Port [3] Automotive Industry - China's share of the global automotive market reached 40% in November 2025, an increase of 1 percentage point from the previous year. The market share for 2024 is projected to be 34.2%, and for the first 11 months of 2025, it is expected to be 35.4%, reflecting a growth of 1.2 percentage points [5] Aerospace Industry - The first aircraft of China's self-developed commercial unmanned transport system, the HH-200, has been assembled and is entering the airworthiness certification stage, indicating a breakthrough in low-altitude logistics and unmanned transport technology [6] Financial Institutions - Citic Bank's Executive Director and President, Lu Wei, resigned due to work adjustments, and Fang Heping has been appointed to assume the role of President [7] - The former Party Secretary and President of the China Industrial and Commercial Bank's Zibo branch, Wang Shiming, is under investigation for serious violations of discipline and law [8] Market Data - As of December 29, the financing balance of the two markets increased by 8.346 billion yuan, with the Shanghai Stock Exchange reporting 1.273965 trillion yuan and the Shenzhen Stock Exchange 1.252865 trillion yuan [11] - The Hang Seng Technology Index rose by 1.74%, with Baidu Group increasing by nearly 9% [12] Company Dynamics - He Xiaopeng stated that true fully autonomous driving will arrive in 2026, skipping L3 and moving directly from L2 to L4, with the Ultra version of Xiaopeng's vehicles expected to achieve this capability [13] - Changjiang Electric Power announced a mid-term profit distribution plan for 2025, proposing a cash dividend of 2.10 yuan per 10 shares, totaling 5.138 billion yuan [14] - Baiwei Storage plans to acquire 0.8446% of Niu Xin Semiconductor's shares for 20 million yuan, indicating a strategic investment in high-speed interconnect technology [15][16]

Suspension and Resumption - Tianpu Co., Ltd. has suspended trading due to a significant deviation of its stock price from the company's fundamentals. The company has no plans to engage in artificial intelligence-related business and has not signed any framework cooperation agreements with shareholder Zhonghao Xinying. There are no asset injection plans related to Zhonghao Xinying [1] Share Buybacks - Zhongju High-tech plans to repurchase shares worth between 300 million to 600 million yuan for cancellation and reduction of registered capital [2] - Baili Tianheng intends to repurchase shares valued at 100 million to 200 million yuan [2] Mergers and Acquisitions - Shengxin Lithium Energy plans to acquire 30% equity of Qicheng Mining for 2.08 billion yuan, aiming for 100% ownership. Qicheng Mining's subsidiary, Huirong Mining, holds mining rights for the Muro Lithium Mine, which has confirmed Li2O resources of 989,600 tons with an average grade of 1.62%, making it one of the highest-grade lithium mines in Sichuan, with a production scale of 3 million tons per year [3] - Mingde Bio plans to acquire 100% equity of Wuhan Bikaier Rescue Supplies Co., Ltd. in cash. The target company is one of the early adopters of international first aid concepts and technologies, focusing on emergency rescue business [3] - Yilake Co., Ltd. intends to acquire 51% equity of Minmetals Salt Lake for 4.605 billion yuan [3] - CITIC Special Steel's wholly-owned subsidiary, Taifu Technology, plans to acquire 100% equity of Fujing Special Co., Ltd. from Guangzhou Airport for 1.51 billion yuan. Fujing Special is one of the world's top three independent steel traders [3] - China National Pharmaceutical plans to acquire 70% equity of Zezheng Pharmaceutical for 525 million yuan. Zezheng Pharmaceutical specializes in the research and development of modified new drugs and complex formulations [3] External Investments and Daily Operations - Wanli Stone plans to establish a joint venture to develop and operate the Kuerdai Molybdenum Uranium polymetallic mine resources [4] - China Nonferrous Metals plans to invest 1.741 billion yuan in the expansion project of a lead-zinc mine with an annual capacity of 1.65 million tons [5] - Taihe Technology plans to transform its original lithium iron phosphate production facility to produce sodium iron phosphate, achieving an annual production capacity of 10,000 tons [5] - Zhaofeng Co., Ltd. intends to invest 1.53 billion yuan in the industrialization project of embodied intelligent robots and high-end precision components for automotive intelligent driving [5] - Datang Power plans to increase its investment in Datang Nuclear Power Company by 617 million yuan for projects including the Liaoning Xudabao Nuclear Power Project and Ningde Second Nuclear Power [5] - Huaxia Airlines plans to purchase three A320 series aircraft, with an estimated transaction amount of approximately 2.763 billion to 2.976 billion yuan [6] - Jingce Electronics plans to sell multiple semiconductor front-end testing equipment to customers, totaling 571 million yuan [7] - Tianyuan Co., Ltd. plans to invest 1.483 billion yuan in a project to build an annual production capacity of 100,000 tons of titanium dioxide using the chloride method [8] - Baiwei Storage plans to acquire 380,000 shares of Niu Xin Semiconductor for 2 million yuan, with the National Integrated Circuit Fund Phase II holding a 6.76% stake in the latter [9] - Jinpan Technology has signed a contract for a data center project with overseas clients, amounting to 98.992 million USD [9] Performance Changes - Zijin Mining expects a net profit attributable to shareholders of approximately 51 billion to 52 billion yuan for the fiscal year 2025, representing a year-on-year increase of about 59% to 62%. The sales prices of gold, copper, and silver have increased year-on-year [10]

Core Viewpoint - The announcement reveals that Bawei Storage's wholly-owned subsidiary, Hainan Nanbai Computing Technology Co., Ltd., and the controlling shareholder's mother plan to acquire shares in Niu Xin Semiconductor, indicating a strategic investment in a company focused on high-speed transmission and interconnection technology [1] Group 1: Company Actions - Bawei Storage's subsidiary and the controlling shareholder's mother intend to acquire 380,066 shares of Niu Xin Semiconductor for a total of 20 million yuan, representing 0.8446% of the company [1] - The National Integrated Circuit Industry Investment Fund II, an associated party, holds a 6.7568% stake in Niu Xin Semiconductor as of the announcement date [1] Group 2: Industry Focus - Niu Xin Semiconductor specializes in the research and innovation of high-speed transmission and interconnection technology, aiming to address the capacity bottlenecks in China's AI era [1] - The company focuses on developing high-speed interconnection technology and provides comprehensive solutions driven by intellectual property (IP), serving over 100 clients across various sectors including data centers, AI, smart vehicles, and consumer electronics [1]

Core Viewpoint - The company Bawei Storage's wholly-owned subsidiary, Hainan Nanbaicsuan, plans to acquire 380,066 shares of Niu Xin Semiconductor for 20 million yuan, representing 0.8446% of the latter's total share capital, indicating a strategic investment in the semiconductor sector [1] Group 1: Company Actions - Hainan Nanbaicsuan intends to use its own or self-raised funds, including bank loans, to finance the acquisition of shares in Niu Xin Semiconductor [1] - The transaction involves related parties, as the actual controller and major shareholder of Bawei Storage, Sun Chengsi, has his mother, Xu Linxian, also planning to acquire 0.8446% of Niu Xin Semiconductor for 20 million yuan [1] Group 2: Industry Context - Niu Xin Semiconductor focuses on the research and development of high-speed interconnect technology and provides related overall solutions, leveraging IP as a driving force for the Internet of Everything [1] - The company has a core technology that is self-controllable and is involved in mainstream advanced process layouts for SerDes, DDR, and other mid-to-high-end interface IPs, with applications in data centers, AI, smart vehicles, and consumer electronics [1]

Core Viewpoint - The company Bawei Storage (688525.SH) announced its subsidiary Hainan Nanbai Computation plans to invest 20 million yuan to acquire 38,006.6 shares of Niu Xin Semiconductor, representing 0.8446% of its total equity [1] Group 1: Investment Details - The investment will be funded through the company's own or self-raised funds [1] - The National Integrated Circuit Industry Investment Fund II, a related party, holds a 6.7568% stake in Niu Xin Semiconductor [1] Group 2: Niu Xin Semiconductor Overview - Niu Xin Semiconductor focuses on the research and innovation of high-speed transmission and interconnection technologies [1] - The company aims to address the capacity bottleneck in China's AI era [1] - Niu Xin Semiconductor specializes in high-speed interconnection technology and provides comprehensive solutions driven by IP [1] Group 3: Product and Market Applications - The company has developed core technologies that are independently controllable, with products applied in data centers, AI, smart vehicles, and consumer electronics [1] - Niu Xin Semiconductor serves over 100 customers with its products, which include mid-to-high-end interface IP for mainstream advanced processes like SerDes and DDR [1]

Core Viewpoint - The company aims to enhance its industry chain layout by investing in high-quality upstream and downstream enterprises, fostering resource sharing, technological complementarity, and market synergy to improve overall operational efficiency and core competitiveness, while creating long-term value for shareholders [1] Investment Details - The company's wholly-owned subsidiary, Hainan Nanbaisuan, plans to invest RMB 20 million to acquire 380,066 shares of Niu Xin Semiconductor, representing 0.8446% of its total share capital [1] - The investment includes RMB 10 million for acquiring 190,033 shares from Chao Yue Mo Er and RMB 10 million for acquiring 190,033 shares from Suzhou Hai Song [1] Shareholder Information - Other shareholders of the target company include the National Integrated Circuit Fund Phase II, which holds more than 5% of the shares, and the company's actual controller and major shareholder, Sun Chengsi's mother, Xu Linxian, who intends to acquire 0.8446% equity of the target company [1] Transaction Nature - The transaction constitutes a related party transaction due to the involvement of related parties but does not qualify as a major asset restructuring [1]

华泰联合证券有限责任公司（以下简称"华泰联合"或"保荐人"）作为深 圳佰维存储科技股份有限公司（以下简称"佰维存储"或"公司"）的向特定对 象发行 A 股股票的保荐人，根据《证券发行上市保荐业务管理办法》《上海证券 交易所科创板股票上市规则》及《上海证券交易所科创板上市公司自律监管指引 第 1 号——规范运作》等有关规定，对佰维存储购买股权暨与关联人共同投资的 事项进行了核查，具体情况如下： 一、交易概述 公司的全资子公司海南南佰算（以下简称"海南南佰算"）拟以自有资金或 自筹资金（含银行借款等）人民币 2,000 万元从牛芯半导体（深圳）股份有限公 司（以下简称"牛芯半导体"或"标的公司"）股东处受让 38.0066 万股股份， 占牛芯半导体总股本的 0.8446%，其中以人民币 1,000 万元受让上海超越摩尔股 权投资基金合伙企业（有限合伙）（下称"超越摩尔"）持有标的公司的 19.0033 万股股份，以人民币 1,000 万元受让苏州海松硬核科技股权投资基金合伙企业 （有限合伙）（以下简称"苏州海松"）持有的标的公司的 19.0033 万股股份。 公司实际控制人、控股股东孙成思的母亲徐林仙拟以不超过人 ...

证券代码：688525 证券简称：佰维存储 公告编号：2025-102 深圳佰维存储科技股份有限公司 关于购买股权暨与关联人共同投资的公告 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法律责任。 重要内容提示： 交易简要内容：深圳佰维存储科技股份有限公司（以下简称"公司"） 的全资子公司海南南佰算科技有限公司（以下简称"海南南佰算"）拟以自有 资金或自筹资金（含银行借款等）人民币 2,000 万元从牛芯半导体（深圳）股 份有限公司（以下简称"牛芯半导体"或"标的公司"）股东处受让 38.0066 万股股份，占牛芯半导体总股本的 0.8446%，其中以人民币 1,000 万元受让上 海超越摩尔股权投资基金合伙企业（有限合伙）（下称"超越摩尔"）持有标 的公司的 19.0033 万股股份，以人民币 1,000 万元受让苏州海松硬核科技股权 投资基金合伙企业（有限合伙）（以下简称"苏州海松"）持有的标的公司的 19.0033 万股股份。 公司实际控制人、控股股东孙成思的母亲徐林仙拟以人民币 2,000 万 元的自有资金或自筹资金（含银行借款 ...

Core Viewpoint - Company Bawei Storage (688525) announced a transaction involving the acquisition of shares in Niu Xin Semiconductor, indicating a strategic investment in the semiconductor sector focused on high-speed interconnect technology [1] Group 1: Transaction Details - Bawei Storage's wholly-owned subsidiary, Hainan Nanbai, plans to acquire 380,066 shares of Niu Xin Semiconductor for 20 million yuan, representing 0.8446% of the total share capital [1] - The transaction involves related parties, as the actual controller and major shareholder, Sun Chengsi's mother, Xu Linxian, will also invest 20 million yuan for the same percentage of shares [1] Group 2: Company Focus and Technology - Niu Xin Semiconductor specializes in the research and development of high-speed interconnect technology and provides comprehensive solutions driven by intellectual property (IP) [1] - The company utilizes core technologies that are self-controlled and is involved in advanced process layouts for SerDes, DDR, and other high-end interface IPs, with applications in data centers, AI, smart vehicles, and consumer electronics [1]

Core Viewpoint - The company, Baiwei Storage (688525.SH), aims to enhance its industry chain layout by investing in high-quality upstream and downstream enterprises, fostering resource sharing, technological complementarity, and market synergy to improve overall operational efficiency and core competitiveness, while creating long-term value for shareholders [1] Investment Details - The company's wholly-owned subsidiary, Hainan Nanbaisuan, plans to invest RMB 20 million to acquire 380,066 shares of Niu Xin Semiconductor, representing 0.8446% of its total share capital [1] - The investment includes RMB 10 million for acquiring 190,033 shares from Chao Yue Moore and RMB 10 million for acquiring 190,033 shares from Suzhou Haisong [1] Shareholder Information - Other significant shareholders of the target company include the National Integrated Circuit Fund Phase II, which holds over 5% of shares, and Xu Linxian, the mother of the company's actual controller and major shareholder Sun Chengsi, who intends to acquire 0.8446% equity in the target company [1] Transaction Nature - The transaction constitutes a related party transaction due to the involvement of associated parties but does not qualify as a major asset restructuring [1]