Core Viewpoint - The major asset restructuring between Chenghe Technology and Wuhu Yingri Technology has been terminated due to the inability to reach consensus on key terms, leading to fluctuations in Chenghe Technology's stock price [1][2][5]. Company Overview - Chenghe Technology, established in 2002, specializes in the production of environmentally friendly, high-performance polymer materials and additives, recognized as a national-level "little giant" enterprise and a "green factory" [7]. - The company has a strong market position, being a supplier to major firms such as Sinopec, PetroChina, and Shell, and has achieved significant growth in revenue and net profit over the years [8]. Financial Performance - From 2016 to 2024, Chenghe Technology has experienced continuous double-digit growth in both revenue and net profit, with revenue increasing from 168 million to 882 million yuan and net profit rising from 27 million to 2.05 billion yuan [8]. - In the first quarter of this year, the company reported revenue and net profit of 220 million and 71 million yuan, respectively, reflecting year-on-year growth of 14.97% and 15.82% [8]. Market Position and Strategy - Chenghe Technology is positioned as a leader in the fine chemical sector, focusing on the development of high-performance nucleating agents and synthetic hydrotalcite, with products achieving international advanced levels [7][8]. - The company aims to accelerate the import substitution process, which is supported by its successful market expansion and product development [8].

Core Viewpoint - Chenghe Technology has abruptly terminated its major asset restructuring plan after two months of preparation due to failure to reach consensus on key terms with the involved parties [1][4]. Group 1: Asset Restructuring Details - Chenghe Technology announced plans to acquire at least 51% of Wuhu Yingri Technology Co., Ltd. for a cash consideration, with an estimated total valuation of 1.8 billion yuan for 100% of Yingri Technology [3]. - Yingri Technology specializes in the research, production, and sales of high-performance sputtering targets, which are essential materials in the electronics manufacturing industry, particularly for semiconductor display panels and touch screens [3][4]. - The complexity of Yingri Technology's shareholder structure and differing opinions on future business development plans hindered the agreement on core transaction terms, particularly regarding performance commitments [4][5]. Group 2: Financial Performance - Yingri Technology reported significant revenue growth from 113 million yuan in 2019 to 315 million yuan in 2021, with year-on-year growth rates of 31.05% and 113.42% respectively. Net profit also increased from 12 million yuan to 84 million yuan during the same period, with growth rates of 115.45% and 215.85% [3][8]. - Chenghe Technology has maintained stable revenue growth since its establishment, with projected revenues increasing from 460 million yuan in 2020 to 882 million yuan in 2024, and net profits rising from 117 million yuan to 250 million yuan in the same period [8]. - In the first quarter of 2025, Chenghe Technology reported a revenue of 220 million yuan, reflecting a year-on-year growth of 14.97%, and a net profit of approximately 71.5 million yuan, up 15.82% year-on-year [8]. Group 3: Impact of Termination - The termination of the asset restructuring will not adversely affect Chenghe Technology's business operations, production activities, or financial status, nor will it harm the interests of the company and its shareholders, particularly minority shareholders [8].

Group 1 - Hengbang Co., Ltd. plans to establish a joint venture with Huasheng Development with a registered capital of 10 million yuan, where Hengbang will contribute 8 million yuan (80%) and Huasheng will contribute 2 million yuan (20%) [1] - Hunan Gold's subsidiary Anhua Zhazi Creek Smelting Plant will undergo temporary maintenance starting from the end of June 2025, expected to last no more than 30 days [2] - Defu Technology's subsidiary signed supply agreements for lithium battery copper foil products with two leading global companies, with contract durations of 3 years and 5 years respectively [3] Group 2 - Binjiang Group won the rights to two residential land parcels for a total price of 4.368 billion yuan [5] - Zhong'an Technology announced the resignation of its executive vice president and board secretary due to personal reasons [7] - Changqing Technology's project for special polymer materials and electronic materials has officially commenced production, adding a capacity of 120,500 tons per year [10] Group 3 - Gansu Energy received approval from the China Securities Regulatory Commission to publicly issue bonds totaling up to 2 billion yuan [10] - Shuoshi Biology obtained a medical device registration certificate for an in vitro diagnostic reagent, valid until June 2030 [12] - Yawen Co., Ltd. plans to issue shares to specific investors, with the application accepted by the Shenzhen Stock Exchange [13] Group 4 - Guoyao Modern's subsidiary received approval for the listing of a raw material drug, which is a selective anticholinergic agent [16] - Inner Mongolia First Machinery's subsidiary signed a railway freight car procurement contract worth 130 million yuan [18] - Xining Special Steel plans to raise up to 1 billion yuan through a private placement to its controlling shareholder [39] Group 5 - Huadong Medicine's subsidiary received approval for a clinical trial of a new injectable drug targeting advanced solid tumors [29] - Warner Pharmaceutical's compound potassium hydrogen phosphate injection passed the consistency evaluation for generic drugs [30] - North Special Technology plans to raise up to 300 million yuan through a private placement for a production base project in Thailand [30] Group 6 - Xiangyang Technology is the first candidate for a 533 million yuan Airbus project [45] - Haishun New Materials intends to acquire 100% of Guangdong Zhengyi Packaging [46] - Jida Zhengyuan's shareholder plans to reduce their stake by up to 0.73% due to personal financial needs [47]

Group 1 - The company announced the termination of its planned major asset restructuring, which involved acquiring at least 51% of Wuhu Yingri Technology Co., Ltd. through cash payment [1][2] - The termination was primarily due to the complexity of Yingri Technology's shareholder structure, leading to disagreements among shareholders regarding the company's future operational plans [2][3] - The parties involved agreed to terminate the transaction after thorough research and friendly negotiations, and a termination agreement was signed, marking the end of the restructuring process [2][3] Group 2 - Yingri Technology is a high-tech enterprise specializing in the research, production, and sales of high-performance sputtering targets, playing a significant role in the electronic device manufacturing industry [4] - The company's products are critical materials used in the manufacturing of semiconductor display panels, touch screens, and solar cells, with applications across various downstream sectors such as consumer electronics and smart home appliances [4] - The potential acquisition was expected to create synergies in customer resource sharing and brand influence, allowing the company to quickly enter the display industry [4]

Core Viewpoint - The acquisition of Wuhu Yingri Technology Co., Ltd. by Chenghe Technology has been terminated due to complex shareholder structures and disagreements on future operational plans [2][7]. Group 1: Acquisition Details - Chenghe Technology planned to acquire at least 51% of Yingri Technology's shares, with an overall valuation of approximately 1.8 billion yuan [5]. - The acquisition was expected to create synergies in customer resource sharing and brand influence, facilitating Chenghe Technology's entry into the display industry [5][7]. - Despite ongoing negotiations since the signing of the intention agreement on April 7, 2025, a formal acquisition agreement was never signed [6]. Group 2: Reasons for Termination - The termination was attributed to the complex shareholder structure of Yingri Technology and differing opinions on future business development plans, particularly regarding performance commitments [7]. - The parties involved mutually agreed to terminate the transaction after failing to reach consensus on core terms [7]. Group 3: Financial Performance - Chenghe Technology reported a record high in performance for 2024, achieving an operating income of 882 million yuan, a year-on-year increase of 10.31%, and a net profit of 250 million yuan, up approximately 10.68% [10]. - In the first quarter of 2025, the company continued its growth trend, with an operating income of 220 million yuan, a year-on-year increase of 14.97%, and a net profit of approximately 71.46 million yuan, up 15.82% [10]. Group 4: Market Reaction - As of June 26, 2025, Chenghe Technology's stock closed at 30.39 yuan per share, reflecting a decline of 2.5%, with a total market capitalization of 5.723 billion yuan [11].

证券代码：688625 证券简称：呈和科技 公告编号：2025-026 呈和科技股份有限公司 关于终止重大资产重组的提示性公告 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相应的法律责任。 2025 年 4 月 9 日，呈和科技股份有限公司（以下简称"公司"） 在上海证券交易所网站 （www.sse.com.cn）披露了《呈和科技股份有限公司关于筹划重大资产重组暨签署<收购意向 协议>的提示性公告》（公告编号：2025-010），拟以现金方式收购芜湖映日科技股份有限公司 （以下简称"映日科技"）合计不低于 51%股权（以下简称"本次交易"）。《收购意向协议》 签署后，公司积极组织交易各方推进本次交易，但未能就本次交易事项的核心条款达成一致 意见。为切实维护公司及全体股东利益，经公司充分审慎研究并与交易对方友好协商，交易 各方一致同意终止本次交易事项，并于近日签署了《收购意向协议之终止协议》，本次重大 资产重组事项终止。现就有关情况公告如下： 一、本次筹划重大资产重组的基本情况 2025 年 4 月 7 日，公司与映日科技股东张兵、天津 ...

呈和科技公告，公司拟以现金方式收购芜湖映日科技股份有限公司合计不低于51%股权的重大资产重组 事项终止。由于交易各方未能就本次交易事项的核心条款达成一致意见，经公司充分审慎研究并与交易 对方友好协商，交易各方一致同意终止本次交易事项，并于近日签署了《收购意向协议之终止协议》。 本次交易尚处于筹划阶段，未涉及公司内部审议决策程序。本次终止筹划重大资产重组无需提交董事会 或股东大会审议，不会对公司业务开展、生产经营活动和财务状况造成不利影响。 ...

Industry Overview - Nucleating agents are key additives for resins like polypropylene and polyethylene, enhancing product transparency, rigidity, and thermal stability, widely used in automotive parts, medical devices, and high-end packaging [1][12] - In 2024, China's demand for nucleating agents is projected to reach 13,000 tons, marking an 18.18% year-on-year increase, driven by the upgrading of manufacturing sectors such as automotive, home appliances, and packaging [12][1] Industry Development History - The nucleating agent industry in China has evolved through four stages: initial research and reliance on imports before the 1980s, technological accumulation from the 1980s to 1990s, rapid growth in the early 2000s, and a high-end development phase from 2010 onwards [3][4] - The current phase emphasizes technological innovation, with domestic companies developing nucleating agents with independent intellectual property, achieving performance levels comparable to international standards [4][14] Industry Chain - The upstream of the nucleating agent industry includes raw materials and production equipment, while the midstream focuses on manufacturing nucleating agents, and the downstream encompasses applications in modified plastics, biomedicine, food, and energy chemicals [6] Current Industry Status - The global nucleating agent market is in a stable expansion phase, with a projected market size of $968 million in 2024, reflecting a 2.87% year-on-year growth, driven by increasing performance requirements in packaging, automotive, and consumer goods sectors [10] Key Companies' Performance - The Chinese nucleating agent market is characterized by foreign dominance and the rapid rise of domestic companies. Companies like Chenghe Technology are breaking the import monopoly through technological breakthroughs and capacity expansion [14][16] - Chenghe Technology's nucleating agent production is expected to reach 10,800 tons in 2024, a 26.53% increase, with a sales volume of 9,700 tons, up 32.03%, and a gross margin of 55.91% [16] Industry Development Trends - Future trends include technological innovation and product upgrades, focusing on environmentally friendly, efficient, and multifunctional nucleating agents [20] - The demand for nucleating agents is expected to grow due to the rise of new technologies like 5G, IoT, and AI, as well as the expansion of domestic polyethylene and polypropylene production capacity [22] - The domestic market's reliance on foreign companies is decreasing as local firms enhance their technological capabilities and market competitiveness, leading to increased domestic production rates [23]

呈和科技股份有限公司（以下简称"公司"）及关联方正在筹划以现金方式收购芜湖映 日科技股份有限公司（以下简称"映日科技"）合计不低于51%股权（以下简称"本次交易"）， 本次交易完成后公司预计将实现对映日科技的控股。 经初步测算，本次交易预计构成《上市公司重大资产重组管理办法》规定的重大资产重 组情形。本次交易以现金方式进行，不涉及公司发行股份，也不会导致公司控制权的变更。 证券代码：688625 证券简称：呈和科技 公告编号：2025-025 呈和科技股份有限公司 关于筹划重大资产重组的进展公告 本公司董事会及全体董事成员保证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。 一、本次重大资产重组的基本情况 本次交易尚处于筹划阶段，具体交易方案尚需进一步论证、协商，并需按照相关法律、 法规及《呈和科技股份有限公司章程》的规定履行必要的决策和审批程序，本次交易相关事 项尚存在不确定性，公司将根据相关事项的进展情况，分阶段及时履行信息披露义务，敬请 广大投资者注意投资风险。 特此公告。 呈和科技股份有限公司董事会 2025 年 6 月 7 日 二、本次重大资 ...

呈和科技股份有限公司 证券代码：688625 证券简称：呈和科技 公告编号：2025-024 本公司董事会及全体董事保证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。 重要内容提示： ? 公司存在首发战略配售股份，首发战略配售股份已全部上市流通 ? 是否涉及差异化分红送转：是 ? 每股分配比例，每股转增比例 每股现金红利0.25元 每股转增0.4股 ? 相关日期 新增无限售条件流通 股权登记日 除权（息）日 现金红利发放日 股份上市日 一、 通过分配、转增股本方案的股东大会届次和日期 本次利润分配及转增股本方案经呈和科技股份有限公司（以下简称"公司"）2025 年 5 月 20 日的2024年年度股东大会审议通过。 二、 分配、转增股本方案 截至股权登记日下午上海证券交易所收市后，在中国证券登记结算有限责任公司上海分 公司（以下简称"中国结算上海分公司"）登记在册的本公司全体股东。 根据《上市公司股份回购规则》 《上海证券交易所上市公司自律监管指引第 7 号——回购 股份》等相关规定，上市公司回购专用证券账户中的股份不享有股东大会表决权、利润分配、 ...