Core Viewpoint - The company is focusing on the beverage sector by acquiring a significant stake in Asian Foods, aiming to enhance its market presence and address declining revenues in its food and beverage business [2][3]. Group 1: Acquisition Details - On June 23, the company announced plans to invest 90.28 million yuan to acquire 39.9996% of Asian Foods, gaining 100% voting rights [2]. - The acquisition is part of a strategy to strengthen its position in the beverage market, particularly with Asian Foods' flagship product, Asian Soda, which is a well-known brand in Southern China [3]. Group 2: Financial Performance - The company has faced revenue declines for two consecutive years, with a 0.29% decrease in 2023 and a projected 21.91% decrease in 2024 [3]. - In Q1 2025, the company reported a revenue of 484 million yuan, reflecting a 10.14% year-on-year decline [3]. Group 3: Business Segmentation - The largest revenue source for the company is the sugar industry, accounting for 73.14% of total revenue, while the beverage sector contributes only 14.93% [4]. - Despite the lower revenue share, the beverage segment has a significantly higher gross margin of 44.64%, compared to the sugar segment's 2.43% [4]. Group 4: Challenges and Market Position - Asian Foods is also experiencing performance pressures, with a reported revenue of 175 million yuan in 2024, down 11.17% year-on-year [4]. - The brand has struggled to maintain its market influence since the 1990s and faces challenges in product innovation and market penetration [4].

Core Viewpoint - Hongmian Co., Ltd. plans to acquire over 39% equity in Guangzhou Asia Food Technology Co., Ltd. for approximately 90.28 million RMB, aiming to gain 100% voting rights and become the controlling shareholder of Asia Food [1][2]. Group 1: Acquisition Details - The acquisition involves Hongmian purchasing shares from the original shareholder, Guangzhou Nanye Yingyuan Investment Consulting Co., Ltd., while also obtaining voting rights from another shareholder, Guangzhou Eagle Money Food Group Co., Ltd. [2][3]. - The transaction is valued based on an income approach, with Asia Food's equity book value at 123 million RMB and an assessed value of 233 million RMB, resulting in an appraisal increment of 110 million RMB and an increase rate of 89.81% [2]. Group 2: Financial Performance - Asia Food's projected revenues for 2023 and 2024 are 197 million RMB and 175 million RMB, respectively, indicating a decline in both revenue and net profit for 2024 compared to 2023 [2]. - The net profit for Asia Food is expected to be 20.11 million RMB in 2023 and 16.57 million RMB in 2024, reflecting a downward trend [2]. Group 3: Brand and Market Position - Asia Food's flagship product, Asia Shashi soda, is a well-known beverage in Guangdong, often regarded as more significant than Coca-Cola in the region [1][4]. - The "Asia" brand has a history of over 70 years and is recognized as the third-largest carbonated beverage brand in South China, following Coca-Cola and Pepsi [5].

Group 1 - The company held a supervisory board meeting on June 23, 2025, with all three supervisors present, and the meeting complied with relevant laws and regulations [1] - The supervisory board approved the acquisition of a 39.9996% stake in Guangzhou Asia Brand Food Technology Co., Ltd. for a total of RMB 90,280,421.54, after deducting dividends received [1][2] - The company will also act as the exclusive trustee for the 60.0004% voting rights of Guangzhou Eagle Money Food Group Co., Ltd., allowing it to exercise full voting rights over Asia Brand Food [2] Group 2 - The supervisory board believes that the transaction aligns with the company's business development and strategic planning, and the price is fair and will not negatively impact the company's performance [2] - After the acquisition and voting rights delegation, the company will hold a total voting rights proportion of 100% in Asia Brand Food, making it a subsidiary [2]

证券代码：000523 证券简称：红棉股份 公告编号：2025-046 广州市红棉智汇科创股份有限公司 关于收购广州市亚洲牌食品科技有限公司 39.9996%股权 同时接受 60.0004%表决权委托暨关联交易的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导 性陈述或重大遗漏。 一、交易概述 1、根据广州市红棉智汇科创股份有限公司（以下简称"红棉股份"、"公 司"）整体战略布局及业务发展规划，同时结合规范控股股东同业竞争问题的需 要，公司拟以自有资金人民币 90,280,421.54 元的价格收购广州市南业营元投资 咨询有限公司（以下简称"南业营元"）持有的广州市亚洲牌食品科技有限公司 （以下简称"亚洲食品"）39.9996%股权（上述金额已扣除评估基准日后南业营 元收到的分红款）。 2、同时，公司接受广州鹰金钱食品集团有限公司（以下简称"鹰金钱"） 表决权委托，鹰金钱不可撤销地授权公司作为其持有的 60.0004%亚洲食品股权 唯一的、排他的受托人，在协议约定的委托期间内，依据相关法律法规及公司章 程等制度，完整行使股东表决权及其他法定权利。 本次收购完成后，公司持有亚洲 ...

证券代码：000523 证券简称：红棉股份 公告编号：2025-045 广州市红棉智汇科创股份有限公司 关于广州鹰金钱食品集团有限公司收购方案变更的公告 1、为进一步扩大广州市红棉智汇科创股份有限公司（以下简称"上市公司" "公司"）饮料板块业务规模，提升公司核心竞争力，同时规范公司与控股股东 广州轻工工贸集团有限公司（以下简称"轻工集团"）部分业务存在同业竞争的 问题，公司于 2024 年 1 月 13 日披露了《关于筹划重大资产重组的提示性公告》 （公告编号：2024-005），拟现金收购轻工集团全资子公司广州鹰金钱食品集团 有限公司（以下简称"鹰金钱"）100%股权。公司于 2024 年 11 月 2 日披露了 《关于筹划收购广州鹰金钱食品集团有限公司 100%股权不构成重大资产重组 的进展公告》（公告编号：2024-054），由于公司 2023 年末经审计净资产较 2022 年末经审计净资产有较大幅度提升，同时，结合对鹰金钱的尽职调查进展及最近 一期财务数据情况，公司收购鹰金钱 100%股权事项不构成《上市公司重大资产 重组管理办法》规定的重大资产重组。 2、鉴于公司与轻工集团全资子公司鹰金钱的控股子 ...

证券代码：000523 证券简称：红棉股份 公告编号：2025-044 广州市红棉智汇科创股份有限公司 第十一届监事会第十四次会议决议公告 本公司及监事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导 性陈述或重大遗漏。 一、监事会会议召开情况 广州市红棉智汇科创股份有限公司（以下简称"公司"）监事会于 2025 年 6 月 17 日以电子邮件等方式发出召开第十一届监事会第十四次会议的通知，并 于 2025 年 6 月 23 日以现场结合通讯方式召开了会议。应到监事 3 人，实到监事 3 人（其中独立监事廖鸣卫以通讯方式出席），占应到监事人数的 100％。本次 会议由监事会主席贺军主持，本次会议符合《公司法》等有关法律、法规、规章 和《公司章程》的规定，投票表决的人数超过监事总数的二分之一，表决有效。 二、监事会会议审议情况 1、审议通过《关于公司与广州市南业营元投资咨询有限公司签署股权转让 协议的议案》（表决结果为 3 票同意，0 票反对，0 票弃权） 监事会同意公司以自有资金人民币 90,280,421.54 元的价格收购广州市南业 营元投资咨询有限公司持有的广州市亚洲牌食品科技有限公司（ ...

证券代码：000523 证券简称：红棉股份 公告编号：2025-043 广州市红棉智汇科创股份有限公司 第十一届董事会第十七次会议决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导 性陈述或重大遗漏。 一、董事会会议召开情况 广州市红棉智汇科创股份有限公司（以下简称"公司"）董事会于 2025 年 6 月 17 日以电子邮件等方式发出召开第十一届董事会第十七次会议的通知，并 于 2025 年 6 月 23 日以现场结合通讯方式召开了会议。应到董事 7 人，实到董事 7 人（其中独立董事吴振强以通讯方式出席），占应到董事人数的 100％。本次 会议由郑坚雄董事长主持，全体监事和高级管理人员列席了会议。本次会议的召 集和召开符合《公司法》等有关法律、法规、规章和《公司章程》的规定，投票 表决的人数超过董事总数的二分之一，表决有效。 二、董事会会议审议情况 董事会同意公司接受广州鹰金钱食品集团有限公司委托，广州鹰金钱食品集 团有限公司不可撤销地授权公司作为其持有的 60.0004%广州市亚洲牌食品科技 有限公司股权唯一的、排他的受托人，在协议约定的委托期间内，依据相关法律 法规及 ...

红棉股份（000523）公告，公司拟以自有资金9028.04万元的价格收购广州市南业营元投资咨询有限公 司持有的广州市亚洲牌食品科技有限公司39.9996%股权。同时，公司接受广州鹰金钱食品集团有限公 司表决权委托，鹰金钱不可撤销地授权公司作为其持有的60.0004%亚洲食品股权唯一的、排他的受托 人，在协议约定的委托期间内，依据相关法律法规及公司章程等制度，完整行使股东表决权及其他法定 权利。本次收购完成后，公司持有亚洲食品股权比例为39.9996%，接受60.0004%表决权委托，公司持 有的亚洲食品表决权比例为100%，亚洲食品成为公司控股子公司。 ...

Core Viewpoint - The article emphasizes the importance of engine performance in commercial vehicles, highlighting how it affects transportation efficiency, product reliability, and operator profitability. It discusses the latest engine products from Yuchai Machinery, particularly the YCK16LN natural gas engine and the YKC12L diesel engine, which aim to meet current market demands amid increasing competition in the industry [1][3][15]. Group 1: Engine Product Features - The YCK16LN natural gas engine is designed to address user pain points in heavy-duty climbing conditions, offering a power range of 590-660 horsepower and peak torque of 2600-2800 Nm, targeting long-distance logistics and oversized transport [4][10]. - The YCK12L diesel engine is aimed at 6×4 medium to long-distance composite transport and 8×4 heavy-duty dump trucks, with a power range of 470-520 horsepower and peak torque of 2200-2400 Nm, making it the most powerful product in the domestic 12-liter diesel engine category [6][12]. - Both engines are designed to enhance operational performance, with the YCK12L series boasting a 10% higher low-speed torque compared to competitors, providing better acceleration and climbing capabilities [6][12]. Group 2: Technological Innovations - The YCK16LN engine incorporates advanced technologies such as "reverse flow" cooling and super materials, which enhance reliability and performance under extreme conditions, achieving a B10 lifespan exceeding 1.8 million kilometers [10][12]. - The YCK12L engine features a lightweight design, being over 50 kg lighter than competitors, and includes a built-in braking system that reduces wear on tires and brake discs, leading to lower maintenance costs [12][13]. Group 3: Market Position and Strategy - Yuchai Machinery is focusing on continuous innovation and product iteration to improve economic efficiency and reliability, addressing market concerns about traditional fuel vehicles amid the rapid influx of new energy products [13][14]. - Despite a decline in the gas heavy truck market, Yuchai has seen an increase in the shipment of its related models, indicating a growing influence in the market and a successful product matrix for gas engines [14][15].

证券代码：000523 证券简称：红棉股份 公告编号：2025-042 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导 性陈述或重大遗漏。 重要提示： 1、广州市红棉智汇科创股份有限公司（以下简称"公司"）股东广州东润 发环境资源有限公司（以下简称"东润发公司"）拟将其持有的公司 121,029 股 股份（占公司总股本的 0.01%）以非公开协议转让方式转让给公司控股股东广州 轻工工贸集团有限公司（以下简称"轻工集团"）。 广州市红棉智汇科创股份有限公司 关于控股股东及其一致行动人之间内部协议转让股份 的提示性公告 2、轻工集团、广州华糖商务发展有限公司（以下简称"华糖商务"）、东 润发公司为一致行动人。本次协议转让事项属于公司控股股东轻工集团及其一致 行动人东润发公司之间的内部转让，不涉及二级市场减持，不会导致轻工集团及 其一致行动人合计持股比例、数量发生变化。 3、本次股份转让不触及要约收购，亦不会导致公司控股股东及实际控制人 发生变化。 4、本次股份转让尚需通过深圳证券交易所合规性审核，并在中国证券登记 结算有限责任公司深圳分公司办理股份过户相关手续。本次股份转让能否最终完 ...