Core Viewpoint - The resignation of key executives at Shinke Co., including the chairman, general manager, and board secretary, raises concerns about the company's leadership stability and future direction [1][2][7]. Executive Resignation - Chairman He Jiannan, General Manager Huang Baofa, and Board Secretary Chen Lanyan have submitted their resignation reports due to personal reasons, with their terms originally set to last until June 2027 [2][7]. - He Jiannan will no longer serve as the legal representative of the company and has also resigned from executive positions in subsidiaries [3][7]. - Huang Baofa holds 198,800 shares in the company and will not transfer his shares after resigning [7]. Shareholding Changes - The company has undergone significant changes in its shareholding structure, with Shenzhen Huili acquiring a 41.89% stake from the original controlling shareholder, He Quanbo, and Beijing Huachuang [8][9]. - Following the transfer, He Quanbo's shareholding will drop to 0%, and Shenzhen Huili will become the new controlling shareholder with a 51.60% stake [9]. Financial Performance - Shinke Co. has faced financial difficulties, reporting losses for five consecutive years until 2024, when it achieved a revenue of approximately 324 million yuan, a year-on-year increase of 2.14%, and a net profit of about 6.86 million yuan, up 136.13% [12]. - However, in the first three quarters of 2025, the company experienced a decline in both revenue and net profit, with revenues of 225 million yuan, down 4.27%, and a net profit of 6.15 million yuan, down 12.43% [12].

Core Viewpoint - The recent resignation of key executives at Shinke Co., including the chairman, general manager, and board secretary, raises concerns about the company's leadership stability and future direction [1][2][7]. Executive Resignation - Chairman He Jiannan, General Manager Huang Baofa, and Board Secretary Chen Lanyan have all resigned due to personal reasons, with their terms originally set to last until June 2027 [2][7]. - He Jiannan will no longer hold any positions within the company or its subsidiaries after his resignation [4]. - Huang Baofa holds 198,800 shares in the company and will not transfer his shares following his resignation [7]. Shareholder Changes - The company has undergone significant changes in its shareholder structure, with Shenzhen Huili acquiring a 41.89% stake from the original controlling shareholder He Quanbo and the second-largest shareholder Beijing Huachuang [8][9]. - Following the transfer, He Quanbo's shareholding will drop to 0%, and Shenzhen Huili will become the new controlling shareholder, with the actual controller being the Zaozhuang City Taierzhuang District State-owned Assets Supervision and Administration Commission [9][10]. Financial Performance - Shinke Co. has faced financial difficulties, reporting losses for five consecutive years until 2024, when it achieved a revenue of approximately 324 million yuan, a year-on-year increase of 2.14%, and a net profit of about 6.86 million yuan, up 136.13% [12]. - However, in the first three quarters of 2025, the company experienced a decline in both revenue and net profit, with revenues of 225 million yuan, down 4.27%, and a net profit of 6.15 million yuan, down 12.43% [12]. Background of Acquirer - Shenzhen Huili's third-largest shareholder is Shenzhen Hongde Business Service Co., which is linked to individuals with previous experience in listed companies [14][15]. - Notably, one of the partners, Song Shiqing, has a background as a former editor at CCTV, indicating a diverse professional history among the new shareholders [15].

Core Viewpoint - The article discusses significant changes in the ownership and management of Shinke Co., Ltd. (申科股份), highlighting the involvement of a young media professional and the implications of these changes for the company and its stakeholders [1]. Group 1: Company Ownership Changes - Shinke Co., Ltd. announced a major change in its ownership structure, with Shenzhen Huili Hongsheng Industrial Holdings acquiring approximately 41.89% of the company's shares for about 1.013 billion yuan, triggering a mandatory tender offer [1]. - The transfer of shares was completed on November 4, with the original controlling shareholder, He Quanbo, fully exiting the company [1]. - The new controlling shareholder is now the State-owned Assets Supervision and Administration Commission of Taierzhuang District, Zaozhuang City [1]. Group 2: Management Restructuring - On November 13, the company’s chairman, general manager, and secretary of the board collectively resigned due to "personal reasons" and will no longer hold positions within the company [1]. - This management shake-up follows the completion of the ownership transfer, indicating a potential shift in the company's strategic direction [1]. Group 3: Key Individuals Involved - A notable figure in the new ownership structure is a "post-90s" media professional who previously worked as an editor for CCTV's financial channel, now listed as the third-largest shareholder of Shenzhen Huili [1]. - Song Xiaoming and Song Shiqing, who are linked to Shenzhen Hongde Business Service Co., Ltd., are also involved in the ownership structure, with Song Shiqing being a 35-year-old executive director at New Capital Hotel [4]. - Song Shiqing has a background in media, having worked as an editor at CCTV and holds a master's degree in business administration from Sun Yat-sen University [4].

Core Viewpoint - The recent leadership changes at Shinke Co., Ltd. and the transfer of control to Shenzhen Huili indicate a significant shift in the company's governance and potential strategic direction [1][2][4]. Group 1: Leadership Changes - Shinke Co., Ltd. announced the resignation of Chairman He Jiannan, General Manager Huang Baofa, and Secretary of the Board Chen Lanyan due to personal reasons [1]. - He Jiannan's resignation includes his roles in other subsidiaries, and he will no longer hold any positions within the company or its subsidiaries [1]. - Huang Baofa and Chen Lanyan will also not hold any positions in the company or its subsidiaries after their resignations [1]. Group 2: Shareholding and Control Changes - The control of Shinke Co., Ltd. has changed, with the original controlling shareholder He Quanbo and the second-largest shareholder Beijing Huachuang transferring their shares to Shenzhen Huili [2][4]. - The total shares transferred amount to 62.83 million, representing 41.89% of the company's total share capital [2][3]. - Following the transfer, Shenzhen Huili becomes the new controlling shareholder, and the actual controller is now the Zaozhuang Tai'erzhuang District State-owned Assets Supervision and Administration Commission [4]. Group 3: Financial Performance - Shinke Co., Ltd. reported a revenue of 324 million yuan for 2024, an increase of 18.70% year-on-year, with a net profit of 6.86 million yuan, up 136.13% [6]. - Despite the growth in revenue and profit, the net profit margin stands at only 2.12%, significantly below the industry average [6]. - In the first three quarters of 2025, the company faced challenges, with revenue declining by 4.27% to 225 million yuan and net profit decreasing by 12.43% to 6.15 million yuan [6].

Core Viewpoint - The resignation of key executives at Shenke Co., Ltd. raises concerns about the company's leadership stability and future strategic direction [1] Group 1: Executive Resignation - Chairman He Jiannan has resigned due to personal reasons, stepping down from multiple roles including Chairman, Director, and various committee positions [1] - He Jiannan's term was originally set to last from June 17, 2024, to June 16, 2027, indicating a significant change in leadership ahead of schedule [1] - He Jiannan has also applied to resign from executive roles in several subsidiaries, indicating a complete withdrawal from the company's management [1] Group 2: Shareholding and Commitments - As of the announcement date, He Jiannan does not hold any shares in the company and has no outstanding commitments to fulfill [1]

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。 申科滑动轴承股份有限公司（以下简称"公司"）于近日收到董事长何建南 先生、总经理黄宝法先生、董事会秘书兼副总经理陈兰燕女士递交的辞职报告。 具体情况如下： 一、公司董事长离任情况 何建南先生因个人原因决定辞去公司董事长、董事、董事会战略委员会主任 委员、董事会提名委员会委员、薪酬与考核委员会委员职务，同时不再担任公司 法定代表人，其原定的任职期间为自 2024 年 6 月 17 日起至 2027 年 6 月 16 日止。 何建南先生同时申请辞去在浙江申科滑动轴承科技有限公司、浙江申科智控科技 有限公司、浙江华宸机械有限公司、浙江申科信息技术有限公司、浙江申科特种 装备有限公司担任的执行董事、经理职务。辞去上述职务后何建南先生将不在公 司及控股子公司担任其他职务。截至本公告日，何建南先生未持有公司股份，不 存在应履行而未履行的承诺事项。 根据《公司法》《公司章程》的有关规定，何建南先生的辞职报告于送达董 事会时生效。何建南先生的辞职不会导致公司董事会成员人数低于法定最低人 数，不会影响公司董事会正常运作和公司正常生 ...

Core Points - The company announced the resignation of key executives including Chairman He Jiannan, General Manager Huang Baofa, and Secretary of the Board and Vice General Manager Chen Lanyan due to personal reasons [1] - He Jiannan did not hold any shares in the company, while Huang Baofa held 198,800 shares [1] - The company plans to promptly appoint a new Secretary of the Board and elect new directors [1]

国联民生证券承销保荐有限公司 关于 深圳汇理鸿晟产业控股企业（有限合伙） 要约收购 申科滑动轴承股份有限公司 之 2025 年第三季度 持续督导意见 中国（上海）自由贸易试验区浦明路 8 号 二〇二五年十一月 1 / 14 声 明 根据《上市公司收购管理办法》等法律法规的要求，国联民生证券承销保荐有 限公司作为深圳汇理鸿晟产业控股企业（有限合伙）要约收购申科滑动轴承股份有 限公司的财务顾问，按照证券行业公认的业务标准、道德规范，本着诚实信用、勤 勉尽责的态度，结合申科滑动轴承股份有限公司 2025 年第三季度报告，经过审慎核 查，出具了本持续督导意见。 本财务顾问对本次收购所出具持续督导意见的依据是收购各方提供的资料。各 方对其所提供的所有资料真实性、准确性、完整性和及时性负责，保证资料无虚假 记载、误导性陈述和重大遗漏，并对所提供资料的合法性、真实性和完整性承担个 别和连带法律责任。 本持续督导意见不构成对申科滑动轴承股份有限公司的任何投资建议，投资者 根据本持续督导意见所做出的任何投资决策而产生的相应风险，本财务顾问不承担 任何责任。 本财务顾问未委托或授权其他任何机构或个人提供未在本持续督导意见中列载 ...

Core Viewpoint - The article discusses the strategic exit of the He family from Shinke Co., highlighting a planned withdrawal from the company that resulted in significant financial gains for the family while leaving the company with minimal net assets. Group 1: Family's Financial Maneuvering - The He family withdrew a total of 1.6 billion from Shinke Co. over 18 years, starting with 59 million in 2007 and culminating in 680 million in 2025, leaving the company with only 400 million in net assets [1][16]. - Huang Xiangmei, the wife of He Quanbo, sold all her shares before the company went public, indicating a lack of confidence in the company's future despite its IPO preparations [3][4]. - The family's actions suggest a clear intention to monetize their investment rather than reinvest in the company, as evidenced by their choice of share transfer over capital increase [3]. Group 2: Stock Performance and Management Changes - From 2013 to 2016, Shinke Co. planned five restructuring efforts, none of which were completed, yet the stock price rose from over 10 to over 30 [6]. - In 2016, the He family sold 13.76% of their shares at a peak price of 36.33, totaling 750 million, which was the highest price in the company's history [7]. - Following the sale, He Quanbo and his son resigned from their executive positions to avoid restrictions on share sales, with the younger son taking over as a nominal figurehead [8]. Group 3: Long-term Financial Decline - Shinke Co. has been unprofitable since its IPO in 2011, accumulating losses of 140 million over 14 years, while annual revenues hovered around 200 million [14][15]. - The stark contrast between the family's total withdrawals of 1.6 billion and the company's remaining net assets of 400 million underscores the financial mismanagement and exploitation of shareholder value [16]. Group 4: Final Exit Strategy - In 2024, He Quanbo publicly sought a buyer for the remaining shares, leading to a successful sale to a state-owned enterprise in 2025 for 680 million [10][12]. - The family's long-term strategy and patience in executing their exit plan demonstrate a calculated approach to capitalizing on their investment, ultimately benefiting themselves at the expense of other investors [21].

Group 1 - Triangle Defense signed a gas turbine project development agreement and framework order agreement with Siemens Energy, allowing the company to qualify for supplying specific items to Siemens Energy [1] - The framework order agreement requires Triangle Defense to deliver products and tooling according to procurement orders and ensure quality standards [1] - Triangle Defense specializes in the research, production, sales, and service of forged products in the aerospace, aviation, and marine industries [1] Group 2 - Jindi Group reported a 65.78% year-on-year decline in signed amount for October, totaling 1.92 billion yuan, with a signed area of 184,000 square meters, down 53.30% year-on-year [2] - For the first ten months, Jindi Group's cumulative signed area was 1.976 million square meters, down 50.45%, and the signed amount was 26.1 billion yuan, down 55.33% [2] - Jindi Group is engaged in real estate development and sales, commercial real estate, and property management [2] Group 3 - Morning Light New Materials announced a plan for a shareholder to reduce holdings by up to 0.96% of the company's shares [3] - The reduction will occur through block trading starting from November 12, 2025 [3] - Morning Light New Materials focuses on the research, production, and sales of functional silanes and other silicon-based new materials [3] Group 4 - Sanjiang Shopping announced a plan for its second-largest shareholder to reduce holdings by up to 3% of the company's shares [4] - The reduction will take place through centralized bidding and block trading starting from November 27, 2025 [4] - Sanjiang Shopping specializes in the development and sales of community fresh supermarkets [5] Group 5 - Wen Tai Technology announced a plan for a shareholder to reduce holdings by up to 3% of the company's shares [11] - The reduction will occur through block trading and centralized bidding starting from November 27, 2025 [11] - Wen Tai Technology is involved in the research and development of mobile communication, semiconductors, and electronic components [11] Group 6 - Xi Ling Power announced a plan to acquire 100% equity of Weipai Automotive [18] - The acquisition involves cash payment and targets a company specializing in turbochargers, serving international automotive clients [18] - Xi Ling Power focuses on the research, production, and sales of automotive parts [18] Group 7 - Financial Securities plans to distribute a cash dividend of 0.6 yuan per 10 shares to all shareholders, totaling 276 million yuan [24] - The dividend distribution is based on the total share capital of 4.603 billion shares as of September 30, 2025 [24] - Financial Securities is engaged in wealth management, investment banking, and various securities-related businesses [24]