Core Viewpoint - The company, Visionox, announced plans to issue A-shares to specific investors, which may lead to a change in control of the company [2] Summary by Sections - **Stock Issuance Details** - The company plans to issue 419,036,598 shares at a price of 7.01 yuan per share [2] - The total amount of funds raised is expected to not exceed 293,744.66 million yuan [2] - **Use of Proceeds** - The funds raised will be used entirely to supplement working capital and repay company debts [2] - **Control Change** - If the issuance is completed, the controlling shareholder will change to Hefei Jianshu Investment Co., Ltd. [2] - **Stock Resumption** - The company's stock will resume trading starting from November 10, 2025 [2]

Core Viewpoint - The company, Visionox, is committed to enhancing its external communication efforts to convey its core values to investors through various channels [2] Group 1 - The company will utilize platforms such as the Shenzhen Stock Exchange's interactive platform, investor relations hotline, email communications, and performance briefings to strengthen its outreach [2]

Core Viewpoint - VisiNote announced a private placement to raise up to 2.937 billion yuan by issuing 419 million shares at 7.01 yuan per share, aimed at replenishing working capital and repaying debts, with Hefei Jianxu becoming the controlling shareholder [1] Group 1: Company Actions - VisiNote plans to issue 419 million shares to Hefei Jianxu, which will increase its ownership from 11.45% to 31.89%, making it the controlling shareholder [1] - The company has been in a "no owner" status for years, and this move will change its actual controller to the Hefei Shushan District People's Government [1] Group 2: Financial Performance - VisiNote has faced continuous losses for three years, with a cumulative loss of nearly 8.3 billion yuan from 2022 to 2024 [3] - In the first three quarters of this year, VisiNote's revenue reached 6.051 billion yuan, a year-on-year increase of 3.5%, while the net profit attributable to shareholders was -1.623 billion yuan, improving by 9.67% year-on-year [3] Group 3: Market Position - VisiNote ranks third globally and second domestically in the smartphone AMOLED panel market with an 11.2% market share for 2024, and it holds the first position in the smart wearable panel market with a 27% share [2]

Group 1 - The core point of the news is that Visionox plans to issue A-shares to Hefei Jianshu, which will increase Hefei Jianshu's stake to 31.89%, making it the controlling shareholder of Visionox, with the local government becoming the actual controller [2][3] - Hefei Jianshu's total subscription amount will not exceed RMB 29.37 billion, and the number of shares to be subscribed will not exceed 419 million, accounting for no more than 30% of the total share capital before the issuance [2] - The net proceeds from the fundraising will be used entirely to supplement working capital and repay company debts, addressing the company's financial needs amid ongoing losses [3] Group 2 - Visionox has reported continuous losses from 2021 to 2024, with net losses of RMB 15.20 billion, 20.66 billion, 37.26 billion, and 25.05 billion respectively, totaling over RMB 114 billion in cumulative losses over the past five years [3] - The company specializes in the research, production, and sales of OLED and Micro-LED display devices, with applications in smartphones, wearables, tablets, laptops, and automotive displays [3] - According to CINNOResearch, Visionox holds an 11.2% market share in the global smartphone AMOLED panel market, ranking third globally and second domestically, while leading the smart wearable AMOLED panel market with a 27% shipment share [4]

Group 1 - The core viewpoint of the article highlights the inquiry about the implementation of unmanned intelligent production lines at Visionox, in light of advancements in artificial intelligence and automation [2]. - Visionox primarily engages in the production, processing, and sales of small to medium-sized AMOLED display devices, indicating a focus on emerging display technologies [2]. - The company has achieved a high level of automation and intelligent collaboration across its production processes, suggesting significant advancements in operational efficiency [2].

Group 1 - Aerospace Universe's subsidiary won a project worth 246 million yuan [1] - Aerospace Universe was established in March 2000, focusing on providing technical solutions and manufacturing services for the aerospace sector [1] Group 2 - Bixing Wulian's shareholder plans to reduce holdings by up to 1% [2] - Bixing Wulian was founded in January 2012, specializing in hardware for sensing devices and big data processing software systems [2] Group 3 - SanSheng Guojian's shareholder intends to reduce holdings by up to 1% [3][4] - SanSheng Guojian was established in January 2002, focusing on the research, production, and sales of antibody drugs [4] Group 4 - Tianyi New Materials is facing a bankruptcy pre-restructuring application from creditors [5] - Tianyi New Materials was founded in November 2009, specializing in powder metallurgy brake pads and renewable energy [5] Group 5 - Hongda High-Tech's director plans to reduce holdings by up to 100,000 shares [6] - Hongda High-Tech was established in July 1997, focusing on the research, production, and sales of textile fabrics and medical devices [6] Group 6 - Weixinno plans to issue 419 million shares to raise up to 2.937 billion yuan [7] - Weixinno was founded in January 1998, specializing in the research, production, and sales of OLED and Micro-LED display devices [7] Group 7 - Jingneng Thermal's shareholder plans to reduce holdings by up to 3% [8] - Jingneng Thermal was established in December 2002, focusing on thermal supply and energy-saving technology services [8] Group 8 - Silk Road Vision's director plans to reduce holdings by up to 68,200 shares [9][10] - Silk Road Vision was founded in March 2000, specializing in digital visual comprehensive services based on CG creativity and technology [10] Group 9 - New Ray Energy's shareholder plans to reduce holdings by up to 0.65% [11] - New Ray Energy was established in June 1997, focusing on the research, production, and sales of high-efficiency power supply products [11] Group 10 - Jian Ke Yuan's shareholder plans to reduce holdings by up to 1% [12] - Jian Ke Yuan was founded in August 2007, specializing in providing technical services for urban green development [12] Group 11 - Del Shares' plan to acquire Aizhuo Intelligent Technology has been approved by the Shenzhen Stock Exchange [13] - Del Shares was established in November 2004, focusing on automotive parts systems [13] Group 12 - Weining Health elected a new chairman, Liu Ning [14] - Weining Health was founded in April 2004, focusing on integrated solutions for medical health information [14] Group 13 - Huichang Communications elected He Fei as the new chairman [15] - Huichang Communications was established in February 2006, specializing in smart cloud video software and hardware [15] Group 14 - Shen Sanda A's controlling shareholder plans to transfer 3.01% of shares [16] - Shen Sanda A was founded in December 1993, focusing on digital and information services [16] Group 15 - Taiji Co. plans to transfer 4.64% of shares [17] - Taiji Co. was established in October 1987, focusing on providing digital services for various sectors [17] Group 16 - Tianzhun Technology's controlling shareholder plans to donate 8 million shares and 8 million yuan in cash [18] - Tianzhun Technology was founded in August 2009, specializing in industrial intelligent equipment [18] Group 17 - ST Lutong's second extraordinary general meeting resolutions are deemed valid [20][21] - ST Lutong was established in February 2007, focusing on broadband network intelligent connection solutions [21] Group 18 - Yinxin Technology's controlling shareholder plans to reduce holdings by up to 1% [22] - Yinxin Technology was founded in May 2004, specializing in IT infrastructure solutions for data centers [22]

Core Viewpoint - The control change of Visionox (维信诺) is progressing, with Hefei Jianshu Investment Co., Ltd. (合肥建曙) planning to become the controlling shareholder of the OLED panel supplier [2] Group 1: Company Developments - Visionox's stock price surged by 10.04% to 9.32 CNY per share after resuming trading on November 10, following a one-week suspension [2] - Visionox signed an agreement on November 7 to issue 419 million A-shares to Hefei Jianshu at a price of 7.01 CNY per share, raising up to 2.937 billion CNY [2] - Hefei Jianshu currently holds 11.45% of Visionox's shares, and after the issuance, its stake will increase to 31.89%, making it the controlling shareholder [2][3] Group 2: Financial Performance - Visionox reported revenues of 7.477 billion CNY, 5.926 billion CNY, 7.929 billion CNY, and 6.051 billion CNY for the years 2022, 2023, 2024, and the first three quarters of 2025, respectively, with net losses of -2.07 billion CNY, -3.726 billion CNY, -2.5 billion CNY, and -1.623 billion CNY [3] - As of September 30, 2025, Visionox's consolidated debt-to-asset ratio was 84.36%, which is expected to decrease after the new share issuance [4] Group 3: Industry Context - The OLED industry is experiencing intense competition, with major players like BOE, Visionox, TCL Huaxing, and Samsung building 8.6-generation OLED production lines to expand into IT and automotive markets [4] - The competition is shifting from "scale competition" to "profit competition" as high-generation OLED production lines are set to begin mass production, leading to an oversupply of capacity compared to terminal demand [4]

Group 1 - The core point of the news is that Visionox Technology Co., Ltd. is planning to issue A-shares to a specific investor, which will result in a change of its controlling shareholder to Hefei Jianshu Investment Co., Ltd. and the actual controller to the People's Government of Shushan District, Hefei [1] - Visionox intends to issue 419 million shares at a price of 7.01 yuan per share, raising a total of no more than 2.937 billion yuan, which will increase Hefei Jianshu's shareholding from 11.45% to 31.89% [1] - The issuance reflects the strong support and confidence of Hefei Jianshu in Visionox's business and future, enhancing the stability of the company's control [1] Group 2 - Visionox has over 20 years of experience in the OLED field, focusing on the research, production, and sales of small and medium-sized OLED display devices [2] - According to CINNOResearch, Visionox is projected to hold an 11.2% share of the global smartphone AMOLED panel market in 2024, ranking third globally and second domestically [2] - In the global AMOLED smart wearable panel market, Visionox is expected to achieve a 27% shipment share in 2024, ranking first globally [2] - For the first three quarters of 2025, Visionox reported a main revenue of 6.051 billion yuan, a year-on-year increase of 3.5%, while the net profit attributable to shareholders was a loss of 1.623 billion yuan, indicating a continued loss but with a reduction in the loss amount [2]

New IPOs - This week, two new stocks are available for subscription: Nant Technology on Tuesday and Hai'an Group on Friday [1] - Nant Technology specializes in the research, production, and sales of precision mechanical components, with applications in air conditioning compressor parts and automotive components [1] - Hai'an Group focuses on the research, production, and sales of giant all-steel engineering machinery radial tires and the operation management of mining tires [1] Private Placement Announcements - Three companies have recently announced private placement plans, with Yintan Zhikong and Visionox hitting the daily limit up on the opening day [3] - Visionox plans to issue up to 419 million shares at a price of 7.01 yuan, aiming to raise approximately 2.937 billion yuan, which will result in a change of control as Hefei Jianshu will become the controlling shareholder [3] - Yintan Zhikong intends to acquire 100% of Guanglong Group's shares in Guanglong Integrated and 80% of Aojian Microelectronics from several shareholders, with the transaction expected to enhance its subsidiary structure [5] Margin Financing Activity - As of November 7, the total market margin balance is 2.48 trillion yuan, a decrease of 50.22 billion yuan from the previous trading day [7] - On November 7, 447 stocks had a net margin buy-in of over 10 million yuan, with 35 stocks exceeding 100 million yuan [7] - Tianfu Communication led the net buy-in with 1.491 billion yuan, followed by Tongwei Co. and Longi Green Energy with 433 million yuan and 419 million yuan, respectively [8]

Core Viewpoint - The company Visionox (维信诺) is undergoing a change in control, with Hefei Jianshu Investment Co., Ltd. (合肥建曙) planning to become the controlling shareholder of the OLED panel supplier [2] Group 1: Control Change and Stock Issuance - Hefei Jianshu currently holds 11.45% of Visionox's shares and plans to increase its stake to 31.89% through a stock issuance of 419 million A-shares at a price of 7.01 yuan per share, raising up to 2.937 billion yuan [2][3] - The stock issuance is subject to approvals from various regulatory bodies, including the State-owned Assets Supervision and Administration Commission and the China Securities Regulatory Commission [4] Group 2: Financial Performance and Strategy - Visionox has reported continuous losses in recent years, with revenues of 7.477 billion yuan, 5.926 billion yuan, 7.929 billion yuan, and 6.051 billion yuan for the years 2022, 2023, 2024, and the first three quarters of 2025, respectively, and net losses of -2.07 billion yuan, -3.726 billion yuan, -2.5 billion yuan, and -1.623 billion yuan [3] - The company aims to enhance its financial strength and operational capabilities through the raised funds, focusing on high-end OLED technology amidst fierce industry competition [3][4] Group 3: Industry Context - The OLED industry is experiencing intense competition, with major players like BOE, Visionox, TCL Huaxing, and Samsung all investing in 8.6-generation OLED production lines to expand into IT and automotive display markets [4] - The shift in competition is moving from scale to profitability as supply begins to outpace demand [4]