Industry News - The Ministry of Finance and the State Administration of Taxation announced that tobacco companies will not be allowed to deduct advertising and promotional expenses from taxable income from January 1, 2026, to December 31, 2027 [3] - The People's Bank of China has introduced a plan to strengthen the management and service system for digital RMB, which will start paying interest on wallet balances at the rate of current deposits from January 1, 2026, marking a transition from "digital cash" to "digital deposit currency" [3] - The China Chain Store and Franchise Association reported that the market size of on-site food sales in supermarkets has exceeded 100 billion yuan [3] - The Asset Management Association of China reported that the total scale of public funds reached 37.02 trillion yuan by the end of November 2025, marking the eighth historical high this year [3] - The Southern Power Grid announced that the last unit of the pumped storage power station in Nanning, Guangxi, was put into operation on December 29, 2025, marking the full completion of Guangxi's first pumped storage power station [3] Company News - Ganfeng Lithium announced that it has been transferred to the procuratorate for prosecution due to suspected insider trading [5] - Kweichow Moutai announced that its controlling shareholder, Moutai Group, has completed a share buyback plan amounting to 3 billion yuan, with no increase in the market supply of Moutai 1935 in 2026 [6][6] - Longpan Technology announced that its subsidiary will reduce production for maintenance on some lithium iron phosphate production lines starting January 1, 2026 [6] - Unigroup Guowei announced plans to acquire controlling or all equity of Ruineng Semiconductor, with stock suspension [6] - ST Panda announced that it has been investigated by the China Securities Regulatory Commission for suspected violations of information disclosure [6] - Haisheng Pharmaceutical announced that its invested company has completed the first patient enrollment for the Phase II clinical trial of the innovative drug NWRD06, targeting a specific liver cancer marker [6] - Tianjian Technology expects a negative net profit for 2025 and revenue below 300 million yuan, which may lead to a delisting risk warning [6] - Tianpu Co. announced no plans to engage in artificial intelligence-related business and has not signed any framework cooperation agreements with shareholders [6] - Guodian Power announced a joint investment with CATL in the Dadu River Danba Hydropower Station project, with a total dynamic investment of 15.273 billion yuan [6] - Hongwei Technology signed a strategic cooperation agreement with a leading domestic company in the transmission field to jointly research GaN power semiconductor devices [6] - 吉祥航空 plans to purchase 25 Airbus A320 series aircraft for 4.1 billion USD, with delivery scheduled between 2028 and 2032 [6][6] - Spring Airlines plans to purchase 30 Airbus A320neo series aircraft for no more than 4.128 billion USD [6][6] - Huazhi Co. announced the termination of the acquisition of 51% of Zhongke Huilian [6] - Wenkong Energy announced a stock suspension for investigation due to significant short-term price increases [6] - Roman Co. signed a contract for a computing power service project worth approximately 156 million yuan [6] - International Composite announced plans to invest 1.693 billion yuan in a project to produce 36 million meters of high-frequency high-speed electronic fiber cloth annually [6]

Core Viewpoint - Sega Technology (002796.SZ) plans to acquire a 20% stake in Guangcai Xincheng (Zhejiang) Technology Co., Ltd. for a total consideration of 275 million yuan through capital increase and equity transfer from the founding shareholder Jiaxing Hetong Intelligent Technology Partnership (Limited Partnership) [1] Group 1: Investment Strategy - The company intends to further increase its investment in Guangcai Xincheng, aiming to ultimately gain control over the target company through additional equity acquisitions [1] Group 2: Target Company Overview - Guangcai Xincheng's wholly-owned subsidiary, Israel Color Chip, is one of the earliest optical module companies globally, known for its proprietary SOG (System on Glass) optical integration technology [1] - The target company offers products with lower BOM costs and power consumption in certain product lines, higher gross margins, and a high degree of production line automation, facilitating easier capacity expansion [1] - The product matrix of the target company covers optical module products ranging from 100G to 800G and 1.6T series, with major clients located in the North American market and primary revenue generated from overseas [1]

据悉，标的公司的全资子公司以色列Color Chip是全球最早的光模块公司之一，独创SOG(System on Glass)光路集成核心技术，在部分产品系列上具备更低的BOM成本和功耗，产品毛利率更高，且产线自 动化程度高，扩产较容易;产品矩阵覆盖100G至800G及1.6T系列光模块产品。标的公司主要客户均位于 北美市场，主要收入来自境外。 智通财经APP讯，世嘉科技(002796.SZ)公告，公司拟通过增资扩股及受让创始股东嘉兴和同智能科技合 伙企业(有限合伙)("嘉兴和同")部分股权方式取得光彩芯辰(浙江)科技有限公司("光彩芯辰")共计20%股 权，本次交易对价为2.75亿元。在完成本次交易的基础上，基于对光通信行业的看好和对标的公司的认 可，公司拟进一步增加对标的公司的投资，拟通过收购股权等方式最终实现对标的公司的控股。 ...

Group 1 - The core point of the news is that several companies are making significant announcements regarding their business operations, including product development, investments, and acquisitions [1][2][3][4][5][6][7][8][9][10][11][12][13][14][15][16][17][18][19][20][21][22][23][24][25][26] Group 2 - Company Upwind New Materials is still in the product development stage for its embodied intelligent robot business and has not achieved mass production or large-scale sales, which is expected to have no positive impact on its 2025 performance [2] - Longpan Technology's subsidiary will reduce production of lithium iron phosphate by approximately 5,000 tons due to maintenance, which is not expected to significantly impact the company's 2026 performance [8] - Spring Airlines plans to purchase 30 Airbus A320neo aircraft, with a total transaction value not exceeding $4.128 billion [17] - Longbai Group's subsidiary will introduce strategic investors and implement a capital increase of 2 billion yuan, primarily to repay bank loans [2] - Xiamen Tungsten's subsidiary plans to acquire 100% of German Mimatic Tool Company for a base price of 10 million euros [3] - Huahan Co. will invest 68.25 million yuan to establish a private equity fund focused on commercial aerospace [4] - Limin Co. has received a production license for "Fluopyram" from Jiangsu Province, which is expected to positively impact future operations [5] - Yinlun Co. plans to increase capital in its subsidiaries for the construction of production bases in Mexico and Sichuan [6] - New Jinlu's subsidiary plans to invest in mining and smelting projects with an estimated total investment of 496 million yuan [8] - Guiguan Electric Power intends to acquire 100% of Datang Tibet Energy Development Co. and China Datang Group ZDN Clean Energy Development Co. for 2.025 billion yuan [8] - Macro Micro Technology has signed a strategic cooperation agreement with a leading domestic company to jointly research GaN power semiconductor devices [9] - Tianqi Co. plans to raise up to 977 million yuan for the development of intelligent systems for the automotive industry [9] - Nanchin Technology intends to sign an agreement with a related party for the development of IP [9] - New Phoenix Ming plans to participate in the auction for a 35% stake in the Dushan Port Development Company for a base price of 259 million yuan [10] - Yonghui Supermarket plans to publicly transfer 28.095% of its stake in Yonghui Yunjin Technology [11] - Financial Securities has received approval from the CSRC to publicly issue bonds totaling up to 15 billion yuan [12] - Guangdong Yuedian's Dapu Power Plant Phase II project has been put into commercial operation with a total investment of 8.122 billion yuan [12] - Huaxin Environmental Protection's subsidiary plans to invest in a bonded remanufacturing project in Hainan with an estimated total investment of 350 million yuan [13] - Baodi Mining intends to purchase 87% of Congling Energy for 685 million yuan [13] - Tianjian Technology has signed a price adjustment agreement for military products, expecting a negative impact on net profit of approximately 209 million yuan [14] - Acolyte has successfully validated and begun bulk supply of a new product for the optical lens field [14] - Huayi Co. has terminated the acquisition of 51% of Zhongke Huilian due to a lack of consensus on key terms [15][16] - Ningbo Huaxiang's subsidiary has signed a strategic cooperation agreement with Qianxing Future to strengthen collaboration in the field of embodied intelligent robots [17] - Tianpu Co. has clarified that it has no plans to engage in AI-related business [17] - Chang'an Automobile plans to raise up to 6 billion yuan for the development of new energy vehicles and smart platforms [20] - Sijia Technology intends to acquire 20% of Guangcai Xincheng for 275 million yuan [21][22] - Wukuang Development plans to purchase shares of Wukuang Mining and Luzhong Mining, with its stock suspended from trading [22] - Guizhou Moutai's major shareholder has completed its shareholding increase plan, acquiring approximately 2.0714 million shares [23] - ST Dongtong's stock will resume trading and enter a delisting period [24] - ST Dongyi has completed the capital increase and will resume trading [25]

Group 1 - The core point of the article is that Sega Technology plans to acquire a 20% stake in Guangcai Xincheng for a total consideration of 275 million yuan, marking the conclusion of a transaction that has been in the works since August 2025 [2][5][6] - The transaction consists of two parts: a capital increase and a share transfer, with Sega Technology subscribing to 10.0737 million new registered capital at a price of 27.2987 yuan per share, resulting in a 13.2066% stake in Guangcai Xincheng after the capital increase [5][6] - The founding shareholder, Jiaxing Hetong, will transfer 6.7934% of its shares to Sega Technology for a nominal price of 1 yuan, bringing Sega's total ownership to 20% post-transaction [5][6] Group 2 - Guangcai Xincheng specializes in optical communication technology, focusing on the research, production, and sales of optical communication products, including optical modules and AOC, with a product range covering 100G to 1.6T series [6][8] - The company has a competitive edge in R&D, production costs, and customer base, with its subsidiary, Israel's Color Chip, being one of the earliest optical module companies globally, known for its innovative SOG technology [6][8] - Sega Technology expresses confidence in the optical communication sector's market prospects and plans to further invest in Guangcai Xincheng to eventually gain controlling interest [9] Group 3 - Sega Technology's main business includes mobile communication equipment and precision casing systems, with a focus on RF devices and antennas for outdoor macro base stations [9] - In the first three quarters of 2025, Sega Technology reported revenues of 674 million yuan, a year-on-year decrease of 4.49%, and a net loss attributable to shareholders of 51.015 million yuan, a significant decline of 281.65% [9] - The company attributes its losses to a slowdown in market demand, increased costs from temporary shutdowns of its subsidiary, and higher share-based payment expenses [9]

Key Points - Guizhou Moutai's controlling shareholder, Moutai Group, has completed a share buyback plan, acquiring 2,071,359 shares for a total of 3 billion yuan, increasing its stake to 56.63% of the total share capital [1] - Juneyao Airlines plans to purchase 25 Airbus A320 series aircraft for a total of 4.1 billion USD, with deliveries scheduled between 2028 and 2032 [1] - ST Panda is under investigation by the China Securities Regulatory Commission for suspected violations of information disclosure laws [1] - Huali Co. has terminated its plan to acquire a 51% stake in Zhongke Huilian due to a lack of consensus on key transaction terms [1][2] - China Duty Free Group's subsidiary has signed a contract for a duty-free project at Beijing Capital International Airport, covering an area of 10,646.74 m², with a guaranteed operating fee of 480.27 million yuan in the first year [3] - Haisheng Pharmaceutical's invested company has initiated Phase II clinical trials for NWRD06, a novel RNA drug targeting GPC3 for liver cancer, marking a significant milestone in cancer treatment [3] - WISCO Development is planning to acquire stakes in WISCO Mining and Luzhong Mining through asset swaps and cash payments, leading to a temporary suspension of its stock [4] - Yonghui Supermarket intends to publicly sell a 28.095% stake in its subsidiary Yonghui Cloud Gold Technology [5] - Shanxi Expressway plans to acquire a 15% stake in Shanxi Transportation Industry Development Group for 74.8 million yuan [5] - China Energy Construction's subsidiary has won a 6.864 billion yuan ecological comprehensive governance project [5]

人民财讯12月29日电，世嘉科技（002796）12月29日公告，公司拟按27.2987元/股的价格以2.75亿元认 购光彩芯辰1007.37万元新增注册资本。本次增资完成后，公司将持有光彩芯辰13.2066%的股权。同 时，光彩芯辰创始股东嘉兴和同拟将其所持光彩芯辰6.7934%股权以总价1元的价格转让给本公司，最 终达到公司获得光彩芯辰共计1525.56万元的注册资本及持有光彩芯辰20%的股权。本次交易对价为2.75 亿元，本次交易完成后本公司持有标的公司共计20%的股权。 ...

Group 1 - The core point of the article is that Sega Technology announced a board meeting to discuss investment agreements related to its subsidiary, highlighting its focus on strategic investments in the semiconductor sector [1] - For the first half of 2025, Sega Technology's revenue composition shows that industrial operations account for 97.18%, while other businesses contribute 2.82%, indicating a strong reliance on its core industrial segment [1] - As of the latest update, Sega Technology's market capitalization stands at 7.4 billion yuan, reflecting its position in the market [2] Group 2 - A new type of chip has been developed in China that bypasses the limitations of lithography machines, supporting AI training and embodied intelligence, and can be mass-produced using mature processes of 28 nanometers and above [2]

（原标题：世嘉科技(002796.SZ)：拟取得光彩芯辰20%股权） 格隆汇12月29日丨世嘉科技(002796.SZ)公布，基于公司发展战略规划，公司看好光通信细分行业的市 场前景，认可光彩芯辰（浙江）科技有限公司（简称"标的公司""目标公司"或者"光彩芯辰"）在光通信 领域内的前期投入、技术储备以及客户资源，公司看好其未来发展空间。故，公司拟通过增资扩股及受 让创始股东嘉兴和同智能科技合伙企业（有限合伙）（简称"创始股东"或者"嘉兴和同"）部分股权方式 取得标的公司共计20%股权，并拟与标的公司及标的公司创始股东分别签署《苏州市世嘉科技股份有限 公司关于光彩芯辰（浙江）科技有限公司之投资协议》《关于光彩芯辰（浙江）科技有限公司之B5轮 股东协议》，本次交易主要内容如下： 本公司拟将按27.2987元/股的价格以275,000,000元认购标的公司10,073,739.78元新增注册资本。本次增 资完成后，本公司将持有标的公司13.2066%的股权，其中10,073,739.78元作为标的公司新增注册资本， 其余作为溢价进入标的公司的资本公积金。同时，标的公司创始股东嘉兴和同拟将其所持标的公司 6.7934 ...

本公司拟将按27.2987元/股的价格以275,000,000元认购标的公司10,073,739.78元新增注册资本。本次增 资完成后，本公司将持有标的公司13.2066%的股权，其中10,073,739.78元作为标的公司新增注册资本， 其余作为溢价进入标的公司的资本公积金。同时，标的公司创始股东嘉兴和同拟将其所持标的公司 6.7934%股权（对应目标公司5,181,864.29元注册资本）以总价1元的价格转让给本公司，最终达到本公 司获得标的公司共计15,255,604.07元的注册资本及持有标的公司20%的股权。本次交易对价为2.75亿 元，本次交易完成后本公司持有标的公司共计20%的股权。本次交易不构成重大资产重组，不构成关联 交易。 格隆汇12月29日丨世嘉科技(002796.SZ)公布，基于公司发展战略规划，公司看好光通信细分行业的市 场前景，认可光彩芯辰（浙江）科技有限公司（简称"标的公司""目标公司"或者"光彩芯辰"）在光通信 领域内的前期投入、技术储备以及客户资源，公司看好其未来发展空间。故，公司拟通过增资扩股及受 让创始股东嘉兴和同智能科技合伙企业（有限合伙）（简称"创始股东"或者"嘉兴和 ...