新京报贝壳财经讯 12月24日，公司控股股东、实际控制人秦本军拟向广州德福营养转让其所持公司 6000万股股份(占总股本的8.09%)，并放弃189,141,310股股份(占总股本的25.50%)的表决权，保留3.00% 的表决权。广州德福营养将成为公司控股股东，侯明和LI ZHENFU将成为公司共同实际控制人。此 外，公司拟通过发行股份购买北京金康普食品科技有限公司80%股权，并募集配套资金用于购买北京金 康普自然人股东李洋、宋军15.50%股权、支付中介费用、交易税费和补充流动资金。但需注意的是， 该交易尚需取得深圳证券交易所的合规性确认意见，并经公司董事会再次审议及股东会审议通过，以及 深圳证券交易所审核同意及中国证券监督管理委员会注册后方可正式实施。公司股票于2025年12月24日 开市起复牌。 ...

Core Viewpoint - The stock of Rhine Biotech (002166.SZ) resumed trading and hit the daily limit, closing at 9.57 yuan, a 10.00% increase, following the announcement of a change in control and related agreements [1]. Group 1: Control Change Agreements - The controlling shareholder Qin Benjun signed several agreements with Guangzhou Defu Nutrition Investment Partnership, including a framework agreement for control change and a share transfer agreement, transferring 60 million shares (8.09% of total shares) and relinquishing voting rights for 189,141,310 shares (25.50% of total shares) [2][8]. - After the transfer, Guangzhou Defu Nutrition will become the controlling shareholder, with Hou Ming and Li Zhenfu as the joint actual controllers of the company [4][8]. Group 2: Share Transfer Details - The share transfer price was set at 10.76 yuan per share, totaling 645.6 million yuan, inclusive of all applicable taxes [3]. - Post-transfer, Qin Benjun will retain voting rights for 22,248,282 shares (3.00% of total shares) [2][8]. Group 3: Asset Purchase and Fundraising - The company plans to issue shares to acquire 80% of Beijing Jinkangpu's equity from Defu Jinkangpu and Xiamen Defu Jinkangpu, and to raise funds for purchasing additional shares from individual shareholders [4][6]. - The final transaction price for the assets will be based on an evaluation report from a qualified asset appraisal agency [5]. - The company aims to expand its business into the nutritional fortifier sector, enhancing its operational stability and risk resistance [6][7]. Group 4: Financial Performance of Target Company - For the fiscal year 2024 and the first three quarters of 2025, Beijing Jinkangpu reported revenues of 431.82 million yuan and 337.65 million yuan, respectively, with net profits of 70.27 million yuan and 40.33 million yuan, and a return on equity of 14.33% and 7.60% [7].

Economic Policy and Market Overview - President Xi Jinping emphasized the need for central enterprises to focus on their main responsibilities and enhance core competitiveness, while promoting technological innovation and deepening reforms [1] - Premier Li Qiang highlighted the importance of providing strong support for major infrastructure projects and ensuring the resilience of industrial supply chains [1] - The Ministry of Housing and Urban-Rural Development aims to stabilize the real estate market by implementing city-specific policies to control inventory and improve supply [1] Capital Market Developments - A-shares have achieved a historic annual trading volume exceeding 400 trillion yuan, with an average turnover rate approaching 1.74% [4] - Major foreign institutions, including Goldman Sachs and Morgan Stanley, have released optimistic forecasts for the Chinese stock market in 2026, citing improving corporate earnings and attractive valuations [4] - The issuance of Sci-Tech bonds surpassed 1.7 trillion yuan in 2025, enhancing financing channels for innovative enterprises [4] Industry Highlights - The commercial aerospace sector is witnessing growth, with the Long March 12 rocket achieving a 90% domestic production rate and a design for 50 reuses [6] - The medical device industry is set for improvement as a new round of high-value medical consumables procurement begins, with expectations for performance recovery in Q4 and 2026 [6] - The launch of L3-level autonomous driving vehicle license plates in Beijing marks a significant milestone in the mass production of autonomous vehicles [6] Company News - Semiconductor manufacturer SMIC has implemented a price increase of approximately 10% on certain production capacities [8] - Sunac China has completed all prerequisites for its overseas debt restructuring, resulting in the release of approximately 9.6 billion USD in existing debt [8] - Geely Automobile has officially merged with Zeekr, with the transaction valued at approximately 2.399 billion USD [10] - Shanghai Birun Technology is seeking to raise up to 623 million USD through a Hong Kong IPO, marking a potential significant year for AI company listings [10] - Tesla's sales in Europe continued to decline, while its competitor BYD saw a significant increase in sales, capturing a growing market share [12]

Market Performance - The US stock market closed higher, with the S&P 500 index reaching a new high. The Dow Jones increased by 0.16%, the S&P 500 rose by 0.46%, and the Nasdaq gained 0.57% [1] - Major tech stocks performed well, with Nvidia up 3.01%, Broadcom up 2.30%, Amazon up 1.62%, and Google A shares up 1.48% [1] Commodity Prices - Spot silver continued its strong performance, reaching a new historical high, increasing by 3% to $71.06 per ounce, with a year-to-date increase of 145% [2] - Spot gold rose by 0.8%, reaching $4478.52 per ounce, hitting a record high during the trading session [3] - International oil prices slightly increased, with New York crude oil futures closing at $58.38 per barrel [4] Regulatory Developments - The National Development and Reform Commission, Ministry of Education, and Ministry of Finance in China issued a notice to improve kindergarten fee policies, emphasizing the need for financial transparency and regulation of fees [4] - A new regulation on food safety in live-streaming e-commerce is set to be published, outlining responsibilities for platform operators and marketing personnel [5][6] Corporate News - Sunac China announced that approximately $9.6 billion of its existing offshore debt has been fully released and exempted [6] - Haibo Technology plans to invest 2 billion yuan to build a smart green energy storage factory [6] - Bethel plans to issue H-shares and list on the Hong Kong Stock Exchange [6] - Ningbo Port intends to acquire 100% equity of Zhoushan Port Comprehensive Bonded Zone for 706 million yuan [6]

Core Viewpoint - Rhine Biotech plans to change its controlling shareholder to Guangzhou Defu Nutrition, with the resumption of trading on December 24, following a suspension since December 10 [2][5]. Shareholder Changes - On December 22, Rhine Biotech's current controlling shareholder Qin Benjun signed several agreements with Guangzhou Defu Nutrition, including a control change framework agreement and a share transfer agreement [8]. - Qin Benjun will transfer 8.09% of his shares to Guangzhou Defu Nutrition, relinquish 25.50% of his shares, and retain voting rights for 3% of his shares. The total transaction price is 646 million yuan, with a transfer price of 10.76 yuan per share, representing a premium of 23.68% over the closing price of 8.70 yuan on December 9 [8][9]. New Shareholding Structure - After the transaction, Qin Benjun will hold 28.50% of Rhine Biotech's shares and 4.14% of the voting rights, while Guangzhou Defu Nutrition will hold 8.09% of the shares and 11.17% of the voting rights [9]. Strategic Focus - Guangzhou Defu Nutrition, established on December 2, 2025, is controlled by Hou Ming and Li Zhenfu, and aims to leverage its resources in the healthcare sector to enhance Rhine Biotech's operational efficiency and governance structure [10]. Acquisition Plans - Rhine Biotech intends to expand its industry chain through acquisitions, specifically by issuing shares to purchase 80% of Beijing Jinkangpu Food Technology Co., Ltd. from Defu Jinkangpu and Xiamen Defu Jinkangpu [12]. - This acquisition will allow Rhine Biotech to extend its operations into the field of nutritional enhancers, creating a closed-loop industry chain from raw materials to formulation solutions [12]. Financial Overview of Beijing Jinkangpu - As of September 30, 2025, Beijing Jinkangpu reported total assets of 593 million yuan and net assets of 535 million yuan, with net profits of 70.27 million yuan and 40.33 million yuan for 2024 and the first three quarters of 2025, respectively [13][14]. Financial Overview of Rhine Biotech - As of September 30, 2025, Rhine Biotech's total assets were 4.985 billion yuan, and net assets were 3.162 billion yuan, with net profits of 16.3 million yuan and 70.40 million yuan for 2024 and the first three quarters of 2025, respectively [15].

Core Viewpoint - Rhein Biotech is undergoing a change in control, with Guangzhou Defu Nutrition becoming the new controlling shareholder, effective from December 24, following a series of agreements signed on December 22 [1][2]. Shareholding Structure - Prior to the agreement, Qin Benjun held 36.59% of Rhein Biotech's shares and 36.59% of the voting rights. After the transfer, he will hold 28.50% of the shares and 4.14% of the voting rights [2][3]. - Guangzhou Defu Nutrition will acquire 8.09% of Rhein Biotech's shares and 11.17% of the voting rights post-transaction [3]. Financial Details of the Transaction - The total transaction price for the share transfer is 646 million yuan (including tax), with a transfer price of 10.76 yuan per share, representing a premium of 23.68% over the closing price of 8.70 yuan on December 9 [1]. Company Background and Strategy - Guangzhou Defu Nutrition was established on December 2, 2025, and is controlled by Hou Ming and Li Zhenfu. It focuses on the healthcare and consumer sectors [4]. - Rhein Biotech aims to leverage Defu Capital's resources in the healthcare sector to enhance its operational efficiency and governance structure [4]. Expansion Plans - Rhein Biotech plans to expand its industry chain through acquisitions, specifically by purchasing 80% of Beijing Jinkangpu Food Technology Co., Ltd. [6]. - The company intends to create a closed-loop industry chain from raw materials to formulation solutions, enhancing synergy with Beijing Jinkangpu, a leading supplier of nutritional fortifiers [6]. Financial Performance - As of September 30, 2025, Rhein Biotech reported total assets of 4.985 billion yuan and net assets of 3.162 billion yuan [7]. - The company's net profit for the first three quarters of 2025 was approximately 70.40 million yuan [10].

Core Viewpoint - Rhine Biotech is undergoing a change in control, with Guangzhou Defu Nutrition becoming the new controlling shareholder, effective from December 24, following a series of agreements signed on December 22 [2][3]. Shareholder Changes - The controlling shareholder Qin Benjun will transfer 8.09% of his shares to Guangzhou Defu Nutrition and will relinquish 25.50% of his shares while retaining 3% voting rights [2][4]. - After the transaction, Qin Benjun will hold 28.50% of Rhine Biotech's shares and 4.14% of the voting rights [3][4]. Transaction Details - The total transaction price for the share transfer is 646 million yuan (including tax), with a transfer price of 10.76 yuan per share, representing a premium of 23.68% over the closing price of 8.70 yuan on December 9 [2][4]. Company Background - Guangzhou Defu Nutrition was established on December 2, 2025, by Defu Capital and currently has not engaged in any actual business activities [5]. - Defu Capital focuses on the healthcare and consumer sectors, aiming to leverage its resources to enhance Rhine Biotech's operational efficiency and governance structure [5]. Strategic Expansion - Rhine Biotech plans to expand its industry chain through acquisitions, specifically by purchasing 80% of Beijing Jinkangpu Food Technology Co., Ltd. [6]. - The company aims to create a closed-loop industry chain from raw materials to formulation solutions, enhancing business synergy with Beijing Jinkangpu, a leading supplier of nutritional fortifiers [6][8]. Financial Overview - As of September 30, 2025, Rhine Biotech reported total assets of 4.985 billion yuan and net assets of 3.162 billion yuan, with a net profit of 163 million yuan for 2024 and 70.4 million yuan for the first three quarters of 2025 [8][9]. - Beijing Jinkangpu's total assets were reported at 593 million yuan, with a net profit of 70.3 million yuan for 2024 and 40.3 million yuan for the first three quarters of 2025 [7][8].

Core Viewpoint - Rhein Biotech is undergoing a change in control, with its major shareholder transferring control to Guangzhou Defu Nutrition, effective from December 24, 2023, after a suspension of trading since December 10, 2023 [1][3]. Shareholder Changes - The controlling shareholder Qin Benjun signed several agreements with Guangzhou Defu Nutrition on December 22, 2023, including a framework agreement for control change and share transfer [3]. - Qin Benjun will transfer 8.09% of his shares in Rhein Biotech to Guangzhou Defu Nutrition and will relinquish voting rights for 25.50% of his shares while retaining voting rights for 3% [4]. - The total transaction value is 646 million yuan, with a share transfer price of 10.76 yuan per share, representing a premium of 23.68% over the closing price of 8.70 yuan on December 9, 2023 [4]. Post-Transaction Shareholding Structure - After the transaction, Qin Benjun will hold 28.50% of Rhein Biotech's shares and 4.14% of the voting rights, while Guangzhou Defu Nutrition will hold 8.09% of the shares and 11.17% of the voting rights [5]. - Guangzhou Defu Nutrition was established on December 2, 2025, by Defu Capital and currently has not engaged in any actual business activities [5]. Strategic Intentions - Rhein Biotech aims to leverage Defu Capital's extensive resources in the healthcare sector to enhance its operational efficiency and governance structure [6]. - The company plans to expand its industry chain through acquisitions, specifically targeting the nutritional supplement sector, to create a closed-loop supply chain from raw materials to formulation solutions [7]. Acquisition Details - Rhein Biotech has signed agreements to acquire 80% of Beijing Jinkangpu Food Technology Co., Ltd. through share issuance, which will be funded by issuing shares to Guangzhou Defu Nutrition [7]. - This acquisition is expected to enhance Rhein Biotech's capabilities in the nutritional supplement market, particularly in the area of fortified food products [8]. Financial Overview of Beijing Jinkangpu - As of September 30, 2025, Beijing Jinkangpu reported total assets of 593 million yuan and a net profit of 40.33 million yuan for the first three quarters of 2025 [8]. - The company is a leading supplier of nutritional supplements for infant formula manufacturers, indicating a strong market position [8]. Financial Performance of Rhein Biotech - As of September 30, 2025, Rhein Biotech's total assets were 4.985 billion yuan, with a net profit of 70.40 million yuan for the first three quarters of 2025 [10]. - The company has shown a consistent growth trajectory in its financial performance, with total liabilities of 1.823 billion yuan [10].

Group 1 - Rhine Biotech plans to change control by acquiring 80% stake in Beijing Jinkangpu, with the current controlling shareholder transferring 60 million shares (8.09% of total shares) and relinquishing voting rights on 189 million shares (25.5% of total shares) [1][2] - The acquisition is expected to be completed after the transfer of shares and the board of directors' restructuring, making Guangzhou Defu Nutrition the new controlling shareholder [1] - The specific transaction price for the acquisition of Beijing Jinkangpu is yet to be determined, and the transaction is not expected to constitute a major asset restructuring [2] Group 2 - Shida Shenghua and Bertli are planning to list H-shares on the Hong Kong Stock Exchange, with both companies considering the interests of existing shareholders and market conditions [3] - The listing process for both companies is in discussion with relevant intermediaries, and specific details have not yet been finalized [3] Group 3 - Ningbo Huaxiang's subsidiary has signed a contract for the production of robot joints, which is expected to positively impact future operating performance starting from January 2026 [4] Group 4 - Ningbo Port plans to acquire 100% of the equity of Zhoushan Port Comprehensive Bonded Zone Terminal for 706 million yuan to resolve competition issues [7] - The company aims to enhance its operational capabilities through this acquisition [7] Group 5 - Huaxin Building Materials' major shareholder plans to increase its stake in the company by 200 to 400 million yuan within six months [12] - The shareholder has secured a loan commitment of up to 360 million yuan from a bank to facilitate this purchase [12]

Group 1 - The company announced a control change agreement where Qin Benjun will transfer 60 million shares (8.09%) to Guangzhou Defu Nutrition and relinquish voting rights for 189,141,310 shares (25.50%), retaining voting rights for 22,248,282 shares (3.00%) [1] - Following the completion of the share transfer and board restructuring, Guangzhou Defu Nutrition will become the controlling shareholder, with Hou Ming and Li Zhenfu as the joint actual controllers [1] - The company plans to acquire 80% of Beijing Jinkangpu Food Technology Co., Ltd. through a share issuance to Defu Jinkangpu Holdings and Xiamen Defu Jinkangpu Investment [1] Group 2 - The target company specializes in the formulation, production, testing, sales, and technical services of food nutrition fortifiers, serving various sectors including dairy products and health foods [2] - The target company is a leading enterprise in the food nutrition fortifier industry, supplying to numerous infant formula manufacturers [2] - The acquisition will enhance the company's business structure, creating a closed-loop industry chain from raw materials to formulation solutions, thereby improving operational stability and risk resistance [2] Group 3 - The company's stock will resume trading on December 24, 2025 [3]