Key Points - The article summarizes important announcements from several listed companies in the Shanghai and Shenzhen stock markets on November 9, 2025 [2] Group 1: Corporate Actions - Visionox (维信诺) plans to issue 419 million shares to Hefei Jianzhu Investment Co., Ltd. at a price of 7.01 yuan per share, raising up to 2.937 billion yuan for working capital and debt repayment. This may lead to a change in control of the company [3] - Huachang Communication (会畅通讯) elected He Fei as the new chairman of the board, effective from the date of the board meeting [4][5] - Weining Health (卫宁健康) appointed Liu Ning as the new chairman after the resignation of Zhou Wei due to personal reasons [6] - Delong Co., Ltd. (德尔股份) received approval from the Shenzhen Stock Exchange for a share issuance to acquire 100% of Aizhuo Intelligent Technology (Shanghai) Co., Ltd. [7] - Tianyi New Materials (天宜新材) is undergoing pre-restructuring after a creditor applied for bankruptcy due to the company's inability to repay debts [8] Group 2: Major Contracts - Aerospace Huanyu (航天环宇) announced that its subsidiary, Hunan Feiyu Aviation Equipment Co., Ltd., won a bid for a project worth 246 million yuan [9] Group 3: Shareholding Changes - Hongda High-Tech (宏达高科) announced that its director and deputy general manager, Gu Weifeng, plans to reduce his holdings by up to 100,000 shares, representing 0.06% of the total shares [11] - Jingneng Thermal Power (京能热力) shareholder Zhao Yibo intends to reduce his stake by up to 3%, amounting to approximately 790,920 shares [12] - Jiankeyuan (建科院) plans to reduce its holdings by up to 1%, equating to 146,660 shares [13] - San Sheng Guojian (三生国健) shareholder Dajia International plans to reduce its holdings by up to 1%, totaling 616,790 shares [14] - Yinxin Technology (银信科技) announced that its actual controller's associates plan to reduce their holdings by up to 1%, which is 444,240 shares [15] - Bixing Wulian (碧兴物联) shareholder Beijing Biyuan Technology Co., Ltd. intends to reduce its stake by up to 1%, amounting to 78,520 shares [16] - Xinle Energy (新雷能) shareholder Shanghai Lianxin Investment Management plans to reduce its holdings by up to 0.65%, totaling 3.5 million shares [17] - Silk Road Vision (丝路视觉) director Wang Junping plans to reduce his holdings by up to 0.056%, which is 68,156 shares [19]

Company Announcements - Visionox plans to issue 419 million shares to Hefei Jianshu at a price of 7.01 CNY per share, raising up to 2.937 billion CNY for working capital and debt repayment, potentially changing the company's control to Hefei Jianshu [1] - Industrial Bank's wholly-owned subsidiary, Xingyin Financial Asset Investment Co., has received approval to commence operations with a registered capital of 10 billion CNY, aimed at supporting innovation and reducing corporate leverage [2] - Dazhong Mining's subsidiary has obtained a mining license for lithium resources, although future production remains uncertain due to various factors [3] - Taiji Co. plans to transfer 4.6423% of its shares to China Electronics' subsidiary, aiming to enhance strategic cooperation and industry synergy [4] - Deep Sanda A's major shareholder plans to transfer 3.01% of its shares to China Electronics, also focusing on strategic collaboration [5] - Aerospace Hanyu's subsidiary won a project worth 246 million CNY, expected to positively impact the company's performance [6] Financing and Share Buybacks - Tianchen Medical has adjusted its share buyback price cap from 28.03 CNY to 70.00 CNY per share, with other terms remaining unchanged [7] Shareholding Changes - Jingneng Thermal's shareholder plans to reduce holdings by up to 3% [8] - Yinxin Technology's actual controller's associates plan to reduce holdings by up to 1% [9] - Silk Road Vision's director intends to reduce holdings by up to 0.056% [10] - New Ray Energy's shareholder plans to reduce holdings by up to 0.65% [11] - Jian Ke Yuan's shareholder plans to reduce holdings by up to 1% [12] - San Sheng Guo Jian's shareholder plans to reduce holdings by up to 1% [13] - Bixing Wulian's major shareholder plans to reduce holdings by up to 1% [14] Other Corporate Developments - Deep Sanda A's subsidiary has paid 112 million CNY in taxes and penalties, expected to reduce the company's 2025 net profit by approximately 57.36 million CNY [15] - Weining Health has elected Liu Ning as the new chairman following the resignation of Zhou Wei [16] - Del Shares' plan to acquire 100% of Aizhuo Intelligent Technology through share issuance has been approved by the Shenzhen Stock Exchange's review committee [17]

Core Viewpoint - The company, Visionox, is planning to issue A-shares to specific investors, which may lead to a change in control of the company, with the funds raised aimed at improving liquidity and repaying debts [2][3] Group 1: Stock Issuance Details - Visionox intends to issue 419 million shares at a price of 7.01 yuan per share, raising a total of up to 2.937 billion yuan, with net proceeds to be used for enhancing liquidity and debt repayment [2] - The company has signed a conditional share subscription agreement with Hefei Jianshu Investment Co., Ltd., which will subscribe to the shares in cash [2] - If the issuance is completed, the controlling shareholder will change to Hefei Jianshu, and the actual controller will become the People's Government of Shushan District, Hefei City [2] Group 2: Industry Position and Market Share - Visionox is a leading player in the OLED industry, holding a global market share of 11.2% in smartphone AMOLED panels, ranking third globally and second domestically [2] - In the smart wearable AMOLED panel market, Visionox leads globally with a 27% shipment share in 2024 [2] Group 3: Financial Strategy and Business Development - The company requires additional funding to support market expansion, production, and operational activities due to rapid business growth [3] - The funds raised from the stock issuance will enhance cash flow and reduce debt pressure, providing financial support for further business development [3] - Visionox aims to strengthen its competitive advantage by increasing investment in technology and focusing on high-end AMOLED development to improve overall profitability and industry position [3]

Core Viewpoint - The company, Visionox, plans to issue A-shares to a specific investor, Hefei Jianshu Investment Co., Ltd., to raise up to 2.93 billion yuan, primarily for working capital and debt repayment [1][4]. Group 1: Stock Issuance Details - Visionox intends to issue no more than 419,036,598 shares, which does not exceed 30% of the total shares before the issuance [1]. - The pricing for the new shares is set at 7.01 yuan per share, with total fundraising expected to be no more than 293,744.66 thousand yuan (29.37 billion yuan) [1]. Group 2: Related Party Transactions - Hefei Jianshu, as a related party, will subscribe to the shares in cash, constituting a related party transaction [4]. - The issuance requires several approvals, including shareholder meeting approval, government authority consent, and regulatory approvals from the Shenzhen Stock Exchange and the China Securities Regulatory Commission [4]. Group 3: Control Changes - Before the issuance, Visionox has no controlling shareholder or actual controller; if the issuance proceeds, Hefei Jianshu will become the controlling shareholder [4]. - Hefei Jianshu was established in 2021 and is controlled by the Hefei Shushan District People's Government [5]. Group 4: Company Background and Strategy - Visionox focuses on new display technologies, including the research, production, and sales of OLED and Micro LED displays, with applications in smartphones, wearables, tablets, laptops, automotive displays, and large-size displays [4]. - The company aims to enhance its strength and promote sustainable long-term development through this transaction, which will also help maintain the interests of minority shareholders and boost market confidence [7].

Core Viewpoint - Hefei State-owned Assets has officially taken control of the panel leader Visionox (002387) through a targeted issuance of A-shares [3][6]. Group 1: Company Control and Financing - Visionox plans to issue 419 million shares to Hefei Jianxu Investment Co., Ltd. at a price of 7.01 yuan per share, raising up to 2.937 billion yuan for working capital and debt repayment [6]. - Upon completion of this issuance, Hefei Jianxu will become the controlling shareholder, with the actual controller being the People's Government of Shushan District, Hefei City [6][7]. - This issuance reflects the strong support and confidence of shareholders in Visionox's business and future [7]. Group 2: Market Position and Industry Leadership - Visionox is a leading enterprise in China's OLED industry, holding a 11.2% share of the global smartphone AMOLED panel market in 2024, ranking third globally and second domestically [6]. - In the global AMOLED smart wearable panel market, Visionox leads with a 27% shipment share in 2024 [6]. Group 3: Strategic Investments and Developments - Since acquiring shares in Visionox in 2021, Hefei State-owned Assets has continued to invest in the panel sector, including a 55 billion yuan project to establish and operate a production line for AMOLED products [8]. - The project is significant for Hefei's goal of creating a competitive new display industry cluster and is progressing well, with the main plant of the 8.6-generation AMOLED production line recently completed [8]. Group 4: Future Growth and Competitive Strategy - Visionox aims to enhance its competitiveness by increasing investment in technology and focusing on high-end AMOLED development [9]. - The funds raised from the share issuance will strengthen the company's financial position, allowing for more investment in production, operations, and R&D, thereby improving overall profitability and competitiveness in the digital era [9].

Group 1 - Weixinno plans to issue 419 million shares to Hefei Jianshu at a price of 7.01 yuan per share, raising up to 2.937 billion yuan for working capital and debt repayment, potentially changing the company's control [3] - Huachang Communications elected He Fei as the new chairman of the board, effective immediately [4] - Weining Health elected Liu Ning as the new chairman after the resignation of Zhou Wei due to personal reasons [5] Group 2 - Del Shares received approval from the Shenzhen Stock Exchange for a share issuance to acquire 100% of Aizhuo Intelligent Technology, along with raising supporting funds from up to 35 specific investors [6] - Tianyi New Materials is undergoing pre-restructuring after a creditor applied for bankruptcy due to inability to repay debts [7] Group 3 - Aerospace Huanyu's subsidiary won a bid for a project worth 246 million yuan, which is expected to positively impact the company's performance [9][10] Group 4 - Hongda High-Tech's director and deputy general manager plans to reduce holdings by up to 100,000 shares, representing 0.06% of the total share capital [12] - Jingneng Thermal's shareholder intends to reduce holdings by up to 3% of the total share capital [13] - Jiankeyuan's shareholder plans to reduce holdings by up to 1% of the total share capital [14] - San Sheng Guojian's shareholder intends to reduce holdings by up to 1% of the total share capital [15] - Yinxin Technology's actual controller's associates plan to reduce holdings by up to 1% of the total share capital [16] - Bixing Wulian's shareholder plans to reduce holdings by up to 1% of the total share capital [17] - Xinle Energy's shareholder intends to reduce holdings by up to 0.65% of the total share capital [18] - Silk Road Vision's director plans to reduce holdings by up to 0.056% of the total share capital [19]

Core Viewpoint - The announcement reveals that the controlling shareholder of Visionox (维信诺) will change to Hefei Jianshu Investment Co., Ltd. (合肥建曙), with the company's stock resuming trading on November 10 [1] Group 1: Share Issuance Details - Visionox plans to issue 419 million A-shares to Hefei Jianshu, which does not exceed 30% of the company's total share capital prior to the issuance [1] - The issuance price is set at 7.01 yuan per share, which is no less than 80% of the average trading price over the last 20 trading days before the pricing benchmark [1] - The total amount raised from the issuance will not exceed 2.937 billion yuan, with the net proceeds intended for replenishing working capital and repaying company debts [1] Group 2: Shareholder and Control Changes - Hefei Jianshu will subscribe to the shares in cash, and prior to this issuance, the company has no controlling shareholder or actual controller [1] - Upon successful completion of the issuance, the controlling shareholder will change to Hefei Jianshu, and the actual controller will become the People's Government of Shushan District, Hefei City [1]

Core Viewpoint - The company, Visionox, is planning to issue A-shares to a specific entity, which may lead to a change in control of the company [1] Group 1: Stock Issuance Details - Visionox intends to issue 419 million shares at a price of 7.01 yuan per share, aiming to raise no more than 2.937 billion yuan [1] - The funds raised will be used to supplement working capital and repay company debts [1] - A subscription agreement was signed with Hefei Jianshu Investment Co., Ltd. on November 7 [1] Group 2: Control Change Implications - Currently, the company has no controlling shareholder or actual controller [1] - If the issuance proceeds successfully, the controlling shareholder will change to Hefei Jianshu [1] Group 3: Stock Trading Resumption - The company's stock will resume trading on November 10, 2025 [1]

Core Viewpoint - Hefei State-owned Assets has officially taken control of the panel leader Visionox (002387) through a planned issuance of A-shares, which may lead to a change in the company's control [1][3]. Group 1: Company Control and Financing - Visionox plans to issue 419 million shares to Hefei Jianshu Investment Co., Ltd. at a price of 7.01 yuan per share, raising up to 2.937 billion yuan to supplement working capital and repay debts [3]. - Upon completion of this issuance, Hefei Jianshu will become the controlling shareholder, with the actual controller changing to the Hefei Shushan District People's Government [3]. - This issuance reflects the strong support and confidence of Hefei Jianshu in Visionox's business after its initial investment in 2021 [4]. Group 2: Market Position and Industry Leadership - Visionox is a leading enterprise in the OLED industry, holding a 11.2% share of the global smartphone AMOLED panel market in 2024, ranking third globally and second domestically [3]. - In the global AMOLED smart wearable panel market, Visionox ranks first with a 27% shipment share in 2024 [3]. Group 3: Strategic Investments and Projects - Following its investment in Visionox, Hefei State-owned Assets has continued to invest in the panel sector, including a collaboration to establish a production line with a total investment of 55 billion yuan [5]. - The project aims to develop and operate an 8.6-generation flexible active matrix organic light-emitting diode production line, which is significant for building a competitive new display industry cluster in Hefei [5]. - The project is progressing well, with the main plant of the 8.6-generation AMOLED production line recently completed, marking a significant step towards large-scale production using ViP technology [5]. Group 4: Future Development and Competitive Strategy - Visionox aims to enhance its competitiveness by increasing investment, improving technological reserves, and focusing on high-end AMOLED development [6]. - The funds raised from the share issuance will strengthen the company's financial position, providing more liquidity for daily operations and R&D, thereby improving overall profitability and competitiveness in the industry [6].

Core Viewpoint - The company VisiNova (002387) plans to issue 419 million shares to Hefei Jianshu Investment Co., Ltd. at a price of 7.01 yuan per share, raising up to 2.937 billion yuan to supplement working capital and repay debts, with trading resuming on November 10, 2025 [2][6]. Group 1: Share Issuance Details - The total amount raised from the share issuance will not exceed 2.937 billion yuan after deducting issuance costs, and the net proceeds will be used entirely for working capital and debt repayment [2][6]. - If the issuance is successfully completed, Hefei Jianshu will hold 31.89% of the company's shares, making it the controlling shareholder, with the actual controller being the Hefei Shushan District People's Government [5][6]. Group 2: Company Background and Market Position - VisiNova has over 20 years of experience in the OLED field and is a leader in the industry, focusing on the research, production, and sales of small and medium-sized OLED display devices [6]. - According to CINNO Research, VisiNova is projected to hold an 11.2% share of the global smartphone AMOLED panel market in 2024, ranking third globally and second domestically [6]. - As per DSCC data, VisiNova is expected to lead the global AMOLED smart wearable panel market with a 27% shipment share in 2024 [6]. Group 3: Hefei Jianshu Investment Co., Ltd. Overview - Hefei Jianshu, established on January 21, 2021, is a wholly-owned subsidiary of Hefei Shushan District Urban Construction Investment Co., Ltd., which is indirectly fully owned by the Hefei Shushan District People's Government [7]. - The main business of Hefei Jianshu is equity investment, with reported 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 nine months of 2025, respectively [7].