Core Insights - Recent announcements from Yonghe Zhikong and Dadongfang reveal significant low-price disposals of their private hospitals, indicating a distress in the healthcare sector [3][8] - Yonghe Zhikong has been unable to attract buyers for its hospitals, with prices dropping drastically, exemplified by a 90% reduction in the valuation of Dazhou Medical Oncology Hospital [6][7] - Dadongfang is also divesting underperforming assets, including a hospital sold for just 1 yuan, reflecting challenges in the healthcare market [8][11] Yonghe Zhikong Overview - Yonghe Zhikong has been attempting to pivot towards the healthcare sector since 2019, acquiring several oncology hospitals to enhance profitability [3][4] - Despite these efforts, the revenue from medical services has remained low, peaking at approximately 148 million yuan in 2023, which constituted about 15.57% of total revenue [4] - The company has faced continuous losses from its hospital operations, with Dazhou Medical Oncology Hospital reporting a net loss of 706,000 yuan in 2024 [6][7] Financial Performance and Asset Disposals - Yonghe Zhikong's attempts to sell its hospitals have seen significant price reductions, with the Dazhou Medical Oncology Hospital's share price dropping from 27.67 million yuan to 2.77 million yuan [5][6] - The company has also listed other hospitals for sale, including the Kunming Medical Oncology Hospital, which is being offered at 33% of its original acquisition price [5][6] - The financial struggles of these hospitals are evident, with all four hospitals listed for sale reporting ongoing losses and one having negative net assets [5][6][7] Dadongfang Overview - Dadongfang has been strategically divesting certain underperforming hospital assets, including the sale of Jin Hua Lian Ji Hospital for 1 yuan [8][11] - The company has expanded its healthcare services through acquisitions since 2022, focusing on pediatric care and other medical services [9][10] - Despite growth in revenue from pediatric services, the overall profitability remains low, with significant fixed costs impacting financial performance [10][11] Market Challenges - Both companies are facing challenges due to changes in healthcare policies and market conditions, leading to declining revenues and increased operational losses [11] - The healthcare sector is experiencing a shift, with companies needing to adapt to new economic realities and consumer demands to remain viable [9][10]

Key Points - Company Grinda plans to invest 80 million yuan to subscribe for 1.91% of Muxi's initial public offering shares [1] - Fuyong Technology clarifies that its products do not possess AI capabilities [1] - Bohui Paper Industry intends to invest 1.7 billion yuan to establish a project with an annual production capacity of 320,000 tons of chemical pulp [1] - Jinggong Technology has won the bid for the Wuhan Qingshan high-performance carbon fiber production base project [1] - Yonghe Intelligent Control plans to transfer 100% equity and debt of its wholly-owned subsidiary Chengdu Shanshui [2] - Zhigang Home plans to repurchase shares with an investment of 80 million to 110 million yuan [2] - Meikailong's shareholder Hangzhou Haoyue intends to reduce its holdings by no more than 131 million shares [2] - International Medical plans to raise no more than 1.008 billion yuan through a private placement [2] - Guizhou Bailin's actual controller Jiang Wei has received a notice of investigation from the Securities Regulatory Commission [2]

Group 1 - Yonghe Intelligent Control plans to publicly transfer 100% equity and a debt of 114 million yuan of its subsidiary Chengdu Shanshuishang Hotel, with a minimum listing price of 185 million yuan [1] - Grinda intends to invest 79.9999 million yuan to subscribe for 764,400 shares of Muxi Integrated Circuit (Shanghai) Co., accounting for 0.19% of the total share capital after issuance [1] - Tianshan Aluminum's actual controllers plan to reduce their holdings by no more than 1% of the company's shares starting from December 25, 2025 [1][2] Group 2 - Guang'an Aizhong plans to publicly issue bonds not exceeding 1 billion yuan to repay debts and supplement working capital [3] - Tengda Technology's shareholder plans to reduce holdings by no more than 0.8% of the company's shares starting from December 26, 2025 [4] - Tianwo Technology intends to invest in a 300,000-kilowatt "solar thermal + wind power integration" project with a total investment not exceeding 1.918 billion yuan [5][6] Group 3 - Yunnan Energy Investment announces that three wind power expansion projects have achieved full capacity grid connection, adding 596,250 kilowatts of wind power capacity [7] - Jinggong Technology wins a bid for a carbon fiber production base project worth 729 million yuan, accounting for 42.16% of its audited revenue for 2024 [8] - CITIC Bank's risk director's qualification has been approved by the regulatory authority [9][10] Group 4 - Electric Media plans to establish a joint venture with Mango Super Media and Zhangjiajie Tourism Group with a registered capital of 180 million yuan [11] - New Lai Ying Material's subsidiary plans to invest 157 million yuan to acquire a 51% stake in Anpu Intelligent Technology [13] - Kuaiji Elevator has been notified of the cancellation of its high-tech enterprise qualification for 2021-2023, which may impact its operating performance [15] Group 5 - Huakai Yibai's shareholders plan to reduce their holdings by no more than 2.94% of the company's shares [16] - Del Shares' shareholder plans to reduce holdings by no more than 2.98% of the company's shares [17] - Rifa Precision plans to sell idle assets for 155 million yuan to an affiliated party [19] Group 6 - Wanlong Optoelectronics is planning a major asset restructuring and has suspended trading of its shares [20] - Bangjie Co.'s shareholder plans to reduce holdings by no more than 400,000 shares [22] - Nanhua Instrument's actual controller and related parties plan to reduce holdings by no more than 1.62% of the company's shares [24] Group 7 - Unisplendour has re-submitted its H-share listing application to the Hong Kong Stock Exchange [25] - Zhongshi Technology plans to acquire 51% of Zhongshi Xun Cold for 35.7 million yuan [26] - Pulutong is planning a major asset restructuring and has suspended trading of its shares [26]

Core Viewpoint - Yonghe Intelligent Control plans to publicly transfer 100% equity of its wholly-owned subsidiary Chengdu Mountain Water Hotel Co., Ltd. and the debt owed by Chengdu Yonghe Cheng Medical Technology Co., Ltd. to Chengdu Mountain Water, with a minimum initial listing price of 185 million yuan, aiming to optimize asset structure, improve cash flow, and enhance asset operation efficiency [1][2]. Group 1: Company Actions - The company is transferring the equity and debt to improve its asset structure and cash flow [1]. - This is not the first time the company has attempted to transfer Chengdu Mountain Water, as previous attempts were made in late 2024 to early 2025, but those transactions did not succeed [2]. - The company has been divesting from its underperforming assets in the tumor precision radiation treatment and photovoltaic sectors, including multiple hospitals and its stake in Puluo Technology [3]. Group 2: Financial Performance - As of July 2025, Chengdu Mountain Water had total assets of 108 million yuan, total liabilities of 126 million yuan, and negative equity of 1.77 million yuan [2]. - For the fiscal year 2024, Chengdu Mountain Water reported revenue of 19.51 million yuan and a net profit of 3.52 million yuan, with revenue and net profit for the first seven months of this year at 9.59 million yuan and 1.42 million yuan, respectively [2]. - Yonghe Intelligent Control reported a revenue of 582 million yuan for the first three quarters of this year, a year-on-year decrease of 7.25%, and a net loss of 60.46 million yuan [3].

Core Viewpoint - Yonghe Intelligent Control (002795.SZ) plans to publicly transfer 100% equity of its wholly-owned subsidiary Chengdu Shanshui Shang and the debt owed by its wholly-owned subsidiary Chengdu Yonghe Cheng to Chengdu Shanshui Shang to optimize asset structure, improve cash flow, and enhance asset operation efficiency [1] Group 1: Transaction Details - The company has commissioned Yinxin Asset Appraisal Co., Ltd. to evaluate the total equity value of Chengdu Shanshui Shang, which, as of the evaluation benchmark date of July 31, 2025, has an audited net asset value of -17.71 million yuan [1] - The market value of the total equity of Chengdu Shanshui Shang is appraised at 70.39 million yuan, while the total debt owed by Chengdu Yonghe Cheng to Chengdu Shanshui Shang amounts to 114.48 million yuan [1] - The initial public transfer price for the 100% equity of Chengdu Shanshui Shang and the debt is set at no less than 184.87 million yuan [1] Group 2: Post-Transaction Impact - Upon completion of this transaction, the company will no longer hold any equity in Chengdu Shanshui Shang, and Chengdu Shanshui Shang will be excluded from the company's consolidated financial statements [1]

Core Viewpoint - The company Yonghe Intelligent Control (002795.SZ) plans to publicly transfer 100% equity of its wholly-owned subsidiary Chengdu Mountain Water and the debt owed by its wholly-owned subsidiary Chengdu Yonghe Cheng to Chengdu Mountain Water in order to optimize its asset structure, improve cash flow, and enhance asset operation efficiency [1] Group 1: Transaction Details - The company has commissioned Yinxin Asset Appraisal Co., Ltd. to evaluate the total equity value of Chengdu Mountain Water, which as of the evaluation benchmark date of July 31, 2025, has an audited net asset value of -17.71 million yuan [1] - The market value of the total equity of Chengdu Mountain Water is appraised at 70.39 million yuan, while the total debt owed by Chengdu Yonghe Cheng to Chengdu Mountain Water amounts to 114.48 million yuan [1] - The initial public transfer price for the 100% equity of Chengdu Mountain Water and the debt is set at no less than 184.87 million yuan [1] Group 2: Impact on Financial Reporting - Upon completion of this transaction, the company will no longer hold any equity in Chengdu Mountain Water, and it will be excluded from the company's consolidated financial statements [1]

Core Viewpoint - Yonghe Intelligent Control (002795.SZ) announced the public transfer of 100% equity of its wholly-owned subsidiary Chengdu Shanshui Shang Hotel Co., Ltd. and the debt owed by its wholly-owned subsidiary Chengdu Yonghe Cheng Medical Technology Co., Ltd. to Chengdu Shanshui Shang, with a minimum initial listing price of no less than RMB 185 million [1] Group 1 - The company plans to publicly transfer the entire equity of Chengdu Shanshui Shang Hotel [1] - The transfer includes the debt owed by Chengdu Yonghe Cheng Medical Technology to Chengdu Shanshui Shang [1] - The total minimum listing price for the equity and debt is set at RMB 185 million [1]

Core Viewpoint - Yonghe Intelligent Control (002795.SZ) announced the public transfer of 100% equity of its wholly-owned subsidiary Chengdu Shanshui Shang Hotel Co., Ltd. and the debt owed by Chengdu Yonghe Cheng Medical Technology Co., Ltd. to Chengdu Shanshui Shang, with a minimum listing price of no less than RMB 185 million [1] Group 1 - The company is planning to publicly transfer the entire equity of Chengdu Shanshui Shang [1] - The transfer includes the debt owed by Chengdu Yonghe Cheng to Chengdu Shanshui Shang [1] - The initial listing price for the equity and debt combined is set at a minimum of RMB 185 million [1]

Group 1 - The company Yonghe Zhikong announced plans to optimize its asset structure and improve cash flow by publicly transferring 100% equity of its wholly-owned subsidiary Chengdu Shanshui Shang Hotel Co., Ltd. and the debt owed by Chengdu Yonghe Cheng to Chengdu Shanshui Shang [1] - The initial public listing price for the transfer of the equity and debt is set at no less than approximately 185 million yuan [1] - Upon completion of the transaction, the company will no longer hold equity in Chengdu Shanshui Shang, and it will be excluded from the company's consolidated financial statements [1]

本资产评估报告依据中国资产评估准则编制 成都永和成医疗科技有限公司 拟股权转让涉及的成都山水上酒店有限公司 股东全部权益评估项目 资产评估报告 银信评报字（2025）第 C00151 号 （共一册,第一册） (可扫描二维码查询备案业务信息) 说明:报告备案回执仅证明此报告已在业务报备管理系统进行了备案,不作为 协会对该报告认证、认可的依据,也不作为资产评估机构及其签字资产评估专 业人员免除相关法律责任的依据。 备案回执生成日期:2025年12月02日 ICP备案号京ICP备2020034749号 | 言 明 - | | --- | | 摘 女 | | 正 文 | | 一、委托人、被评估单位概况及其他资产评估报告使用人 | | 二、评估目的 | | 三、评估对象和评估范围 | | 四、价值类型及其定义 . | | 五、评估基准目 | | 六、评估依据 . | | 七、评估方法 | | 八、评估程序实施过程和情况 | | 九、评估假设………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………… ...