Core Viewpoint - Jinlong Co., Ltd. announced that its controlling shareholder, Dongguan New Century Science and Education Development Co., Ltd., will have part of its shares auctioned for the second time, with a total of 35 million shares involved, representing 16.59% of New Century's holdings and 3.91% of Jinlong's total share capital [1] Summary by Sections - **Share Auction Details** - The auction for the shares will start on August 25 and end on August 26 [1] - If all auctioned shares are sold and transferred, New Century will retain 176 million shares, which is 19.64% of Jinlong's total share capital [1] - **Ownership Structure** - New Century will remain the controlling shareholder of Jinlong, and Yang Zhimao will continue to be the actual controller of Jinlong [1]

Group 1 - The core point of the article is that the controlling shareholder of Jinlong Co., Ltd., Dongguan New Century Science and Education Development Co., Ltd., will have 35 million shares auctioned for the second time, representing 16.59% of New Century's holdings and 3.91% of the total share capital of the company [1] - The auction is initiated by the Guangzhou Tianhe District People's Court and will take place on August 25, 2025, on the Taobao judicial auction platform, lasting for one day [1] - The reason for the auction is judicial enforcement, and specific auction information has been publicly announced on the mentioned platform [1]

证券代码：000712 证券简称：锦龙股份 公告编号：2025-48 二、风险提示及对公司的影响 广东锦龙发展股份有限公司 关于股东股份被第二次司法拍卖的提示性公告 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。 广东锦龙发展股份有限公司（下称"公司"）今日接到控股股东 东莞市新世纪科教拓展有限公司（下称"新世纪公司"）函告，获悉 新世纪公司所持有的公司部分股份将被第二次司法拍卖。具体情况如 下： 一、股东股份被拍卖基本情况 注：（1）上述司法拍卖的具体情况请关注淘宝网司法拍卖网络 平台（http://sf.taobao.com）上公示的相关信息。 （2）上述司法拍卖的股份此前已被广州市天河区人民法院冻结， 详见公司于 2024 年 10 月 29 日披露的《关于股东股份被冻结和质押 的公告》（公告编号：2024-101），第一次拍卖的具体情况详见公司 于 2025 年 7 月 9 日披露的《关于股东股份被司法拍卖的进展公告》 1 股东 名称 是否为控 股股东或 第一大股 东及其一 致行动人 本次拍卖股 份数量 占其所 持股份 比例 占公 司总 股本 比例 是 ...

Group 1 - The A-share market experienced a collective decline in brokerage stocks, with Zhongyin Securities hitting the daily limit down [1] - Jinlong Co., Dongwu Securities, Guosheng Financial Holdings, and Xibu Securities all fell over 2% [1] Group 2 - Zhongyin Securities saw a decrease of 9.05%, with a total market value of 45.2 billion and a year-to-date increase of 45.88% [2] - Jinlong Co. declined by 2.75%, with a market value of 13 billion and a year-to-date decrease of 4.10% [2] - Dongwu Securities dropped by 2.48%, with a market value of 48.8 billion and a year-to-date increase of 29.76% [2] - Guosheng Financial Holdings fell by 2.40%, with a market value of 29.9 billion and a year-to-date increase of 17.88% [2] - Xibu Securities decreased by 2.08%, with a market value of 37.9 billion and a year-to-date increase of 5.19% [2]

证券之星消息，7月29日证券板块较上一交易日上涨0.22%，中银证券领涨。当日上证指数报收于 3609.71，上涨0.33%。深证成指报收于11289.41，上涨0.64%。证券板块个股涨跌见下表： 从资金流向上来看，当日证券板块主力资金净流出21.81亿元，游资资金净流出1695.48万元，散户资金净 流入21.98亿元。证券板块个股资金流向见下表： | 代码 | 名称 | 主力净流入(元) | 主力净占比 游资净流入 (元) | | 游资净占比 散户净流入 (元) | | 散户净占比 | | --- | --- | --- | --- | --- | --- | --- | --- | | 601162 | 天风证券 | 5.89 Z | 10.93% | -3.18 Z | -5.91% | -2.71 Z- | -5.02% | | 601688 | 华泰证券 | 1.91亿 | 7.47% | -6486.95万 | -2.54% | -1.26 Z | -4.93% | | 000712 锦龙股份 | | 1.02亿 | 7.69% | 3865.88万 | 2.92% | -1.40亿 | -1 ...

Core Viewpoint - A total of 16 A-share listed companies disclosed their latest merger and acquisition announcements during the week of July 21 to July 27, with notable transactions including Huylin Ecological's plan to acquire a 49% stake in Wuhan Junheng, and the resumption of trading for its stock on July 28 [1][3]. Group 1: Company Announcements - Huylin Ecological announced on July 25 its intention to purchase a 49% stake in Wuhan Junheng, with its stock set to resume trading on July 28 [3]. - Western Gold announced on July 25 its plan to acquire 100% of Xinjiang Meisheng for 1.655 billion yuan [3]. - Guochuang High-tech announced on July 25 its plan to acquire 100% of Ningbo Guopei for 22.5 million yuan [3]. - Shanghai Pharmaceuticals announced on July 25 its intention to acquire a 10% stake in a financial company held by Shashi Dongtan [3]. - Heng Rui Medicine announced on July 25 its plan to acquire a 1.4587% stake in Chengdu Shengdi Medicine for 4.0144 million yuan [3]. - Yuanli Co. announced on July 24 its intention to purchase 100% of Tongsheng Co., with its stock set to resume trading [3]. - Angel Yeast announced on July 24 its plan to acquire a 55% stake in Zuitong Sugar Industry for 506 million yuan [3]. - Jinlong Co. announced on July 23 its intention to acquire a 29.32% stake in Zhisuang Company [3]. - Huayu Mining announced on July 23 its plan to acquire an 11% stake in Asia Pacific Mining for 300 million yuan [3]. - Titan Technology announced on July 23 its intention to acquire 100% of ASL for approximately 55.85 million yuan [3]. - GoerTek announced on July 22 its plan to acquire Mia Precision Technology Co. and Changhong Industrial Co. for approximately 10.4 billion Hong Kong dollars [3]. - Geer Software announced on July 22 its intention to acquire more than 51% of Weipin Zhiyuan, which owns an intelligent orchestration platform [3]. - Tianrun Industrial announced on July 22 its plan to acquire 100% of Shandong Altai for 13.5 million yuan [3]. - Hanyi Co. announced on July 22 its intention to acquire a 39% stake in Shanghai Pidong Cultural Media for 10.2 million yuan [3]. - ST Xifa announced on July 21 its plan to cash purchase a 50% stake in Lhasa Beer held by Carlsberg, which is expected to constitute a major asset restructuring [3]. - Beiding Co. announced on July 21 its intention to acquire 100% of Zhongshan Kairui for 156 million yuan [3].

Core Viewpoint - Jinlong Co., Ltd. is shifting its focus from traditional brokerage business to computing power services, driven by continuous losses and debt pressure, with plans to acquire a 29.31% stake in Shenzhen Benmao Technology Co., Ltd. to facilitate this transition [2][3][4]. Group 1: Financial Performance - Jinlong Co., Ltd. has reported losses for four consecutive years, with total losses exceeding 900 million yuan from 2021 to 2024, including losses of 1.31 billion yuan in 2021, 3.92 billion yuan in 2022, 3.84 billion yuan in 2023, and 890 million yuan in 2024 [5][6]. - The company's debt-to-asset ratio has remained high, reaching 81.09% by the end of 2024, with overdue debts exceeding 700 million yuan [5][6]. - The recent sale of a 20% stake in Dongguan Securities generated 2.271 billion yuan, which helped Jinlong Co., Ltd. achieve a profit of 105 million to 153 million yuan in the first half of the year [5]. Group 2: Strategic Shift - The acquisition of Shenzhen Benmao is seen as a necessary step for Jinlong Co., Ltd. to find new growth points and reduce reliance on traditional brokerage operations [4][6]. - The computing power sector is experiencing significant growth due to favorable policies, market demand, and technological innovations, making this acquisition timely for Jinlong Co., Ltd. to capitalize on industry trends [4][6]. - The company plans to invest up to 1 billion yuan in building computing power centers in collaboration with other partners, although progress on this project has not been disclosed [3][4]. Group 3: Market Conditions - The computing power market is currently facing challenges, including overcapacity and idle resources, which may pose risks for new entrants like Jinlong Co., Ltd. [4][6]. - Experts suggest that the acquisition may require substantial cash or increased debt, raising concerns about the company's financial flexibility and operational sustainability [6].

Group 1 - On July 23, Jinlong Co., Ltd. announced that Guangdong Shenbao Yiben and Shenzhen Shenbao Yiben intend to transfer a combined 29.3151% stake in Shenzhen Benmao Technology Co., Ltd. to the company [1][4] - Guangdong Shenbao Yiben holds 16.4345 million shares of Shenzhen Benmao, accounting for 23.2427% of the total share capital, while Shenzhen Shenbao Yiben holds 4.2937 million shares, accounting for 6.0724% [4] - Shenzhen Benmao focuses on the full industry chain services centered on intelligent computing centers and computing power services, providing comprehensive solutions for green and low-carbon intelligent computing centers [4] Group 2 - Shenzhen Benmao's total assets are projected to be 1.978 billion yuan, with net assets of 485 million yuan by the end of 2024, and an expected operating income of 869 million yuan and net profit of 53.6247 million yuan for the same year [4] - Jinlong Co., Ltd. has faced significant performance pressure, reporting losses for four consecutive years from 2021 to 2024, with total revenues of 1.663 billion yuan in 2024 and a net profit of -89 million yuan [4][5] - Due to debt pressures, Jinlong Co., Ltd. has been planning to sell stakes in two brokerage firms to recover funds, including a 20% stake in Dongguan Securities sold for a base price of 2.272 billion yuan [5]

Group 1 - The core viewpoint of the article highlights that the securities sector is experiencing a bullish trend, with multiple brokerage stocks, including Jinlong Co., hitting the daily limit up, and others like Guosen Securities, Bank of China Securities, and Dongfang Securities also seeing gains [1] - The securities sector has seen a continuous rise for six consecutive days, indicating a strong upward momentum [1] - Industry insiders believe that the securities sector is in a phase of multiple favorable factors, including sustained policy support, active trading sentiment in the A-share market, increasing interest in the Hong Kong stock market, and the recovery of brokerage firms' performance, which collectively enhance the sector's outlook [1]

Core Viewpoint - Jinlong Co., Ltd. is planning to invest in computing power by acquiring a 29.3% stake in Shenzhen Benmao Technology Co., Ltd., leveraging the 2.271 billion yuan from the recent sale of Dongguan Securities shares, marking a strategic shift after years of financial struggles [3][7][10]. Group 1: Investment Strategy - The investment in Shenzhen Benmao is part of Jinlong's broader strategy to transition into the computing power sector, which began over a year ago with a proposed 1 billion yuan computing power leasing plan that has yet to show tangible progress [4][8]. - The company aims to collaborate with experienced partners in the computing power field, sharing revenue from client sales, with an initial investment of approximately 1.03 million yuan for the first phase of the project [8][9]. Group 2: Financial Background - Jinlong has faced significant financial challenges, including continuous losses and high debt levels, prompting the sale of core assets to stabilize its finances [5][6]. - The successful completion of the sale of 20% of Dongguan Securities shares for 2.271 billion yuan allowed Jinlong to turn a profit in the first half of the year, enabling the new investment initiative [7][10]. Group 3: Historical Context - Shenzhen Benmao, which has seen its revenue double over four years, is now facing profitability challenges as it prepares for Jinlong's acquisition [4][10]. - The exit of Shenzhen Media Group from its investment in Benmao after four years reflects a shift in strategy, as the anticipated IPO did not materialize [10][14].