Core Viewpoint - Guangdong Xiangshan Weighing Instrument Group Co., Ltd. (referred to as "Xiangshan Co.", 002870) plans to issue up to 32.8794 million shares to its controlling shareholder, Ningbo Joyson Electronic Corp. (referred to as "Joyson"), raising no more than 812 million yuan to supplement working capital [1][2][3] Group 1: Stock Issuance Details - The issuance price is set at 24.59 yuan per share, based on the average stock price over the 20 trading days prior to the pricing date [1] - Joyson's shareholding will increase from 30% to 44% post-issuance, with a commitment to a 36-month lock-up period [1][2] - Joyson has committed to fully subscribe using its own funds, with the minimum subscription amount matching the fundraising cap [1][2] Group 2: Financial Health and Use of Proceeds - Joyson reported cash reserves of 7.263 billion yuan at the end of 2024 and revenue of 45.844 billion yuan with a net profit of 1.12 billion yuan for the first three quarters of 2025, indicating sufficient capacity to subscribe [1][2] - The company has a projected funding gap of 1.268 billion yuan over the next three years, justifying the fundraising [2] - Previous fundraising efforts in 2022 raised 589 million yuan, with a portion redirected to working capital after project terminations [2] Group 3: Business Operations and Market Position - The company has over 50% of its revenue from overseas, primarily from international automotive clients such as BMW and Mercedes-Benz, with overseas revenue projected at 3.117 billion yuan for 2024 [2] - The company holds goodwill of 804 million yuan, primarily from the acquisition of Joyson Group, with no impairment required based on annual tests [2] - Inventory stands at 1.16 billion yuan, with a provision for inventory write-downs at 6.39%, consistent with industry peers [2]

Guangdong Senssun Weighing Apparatus Group Ltd. 广东香山衡器集团股份有限公司 中山市东区起湾道东侧白沙湾工业园区 保荐机构（主承销商） 证券简称：香山股份 证券代码：002870 2025年度向特定对象发行股票 募集说明书 （修订稿） 浙江省宁波市鄞州区海晏北路 565、577 号 8-11 层 二〇二五年十月 广东香山衡器集团股份有限公司 募集说明书（修订稿） 声 明 本公司及全体董事、高级管理人员承诺本募集说明书内容真实、准确、完整， 不存在虚假记载、误导性陈述或重大遗漏，按照诚信原则履行承诺，并承担相应 的法律责任。 中国证监会、深圳证券交易所对本次发行所作的任何决定或意见，均不表明 其对申请文件及所披露信息的真实性、准确性、完整性作出保证，也不表明其对 发行人的盈利能力、投资价值或者对投资者的收益作出实质性判断或保证。任何 与之相反的声明均属虚假不实陈述。 根据《证券法》的规定，证券依法发行后，发行人经营与收益的变化，由发 行人自行负责，投资者自主判断发行人的投资价值，自主作出投资决策，自行承 担证券依法发行后因发行人经营与收益变化或者证券价格变动引致的 ...

股票简称：香山股份 股票代码：002870 关于 广东香山衡器集团股份有限公司 申请向特定对象发行股票的 审核问询函之回复报告 保荐机构（主承销商） 浙江省宁波市鄞州区海晏北路 565、577 号 8-11 层 二〇二五年十一月 深圳证券交易所： 根据贵所于 2025 年 11 月 6 日下发的《关于广东香山衡器集团股份有限公司 申请向特定对象发行股票的审核问询函》（审核函〔2025〕120048 号）（以下简 称"审核问询函"）的要求，广东香山衡器集团股份有限公司（以下简称"发行 人""公司""香山股份""上市公司"）会同甬兴证券有限公司（以下简称 "保 荐人""保荐机构"）、毕马威华振会计师事务所（特殊普通合伙）（以下简称"发 行人会计师""会计师"）、国浩（上海）律师事务所（以下简称"发行人律师"）， 本着勤勉尽责、诚实守信的原则，就审核问询函所提问题逐条进行了认真调查、 核查及讨论，并完成了《关于广东香山衡器集团股份有限公司申请向特定对象发 行股票的审核问询函之回复》（以下简称"本回复"），现回复如下，请予审核。 如无特殊说明，本回复中简称与《广东香山衡器集团股份有限公司向特定对 象发行股票募集说明书 ...

甬兴证券有限公司 关于 广东香山衡器集团股份有限公司 2025 年度向特定对象发行股票 之 上市保荐书 保荐机构（主承销商） 二〇二五年十一月 广东香山衡器集团股份有限公司 上市保荐书 保荐人及保荐代表人声明 甬兴证券有限公司及本项目保荐代表人蒋敏、王学飞已根据《中华人民共和 国公司法》（以下简称"《公司法》"）、《中华人民共和国证券法》（以下简 称"《证券法》"）等法律法规和中国证监会及深圳证券交易所的有关规定，诚 实守信，勤勉尽责，严格按照依法制定的业务规则和行业自律规范出具本上市保 荐书，并保证本上市保荐书的真实、准确、完整。 3-3-1 | 保荐人及保荐代表人声明 | | --- | | 日 求 … | | 释 义… | | 一、发行人基本情况 | | 二、发行人本次发行情况 …………………………………………………………………………………………………………………… 12 | | 三、本次证券发行上市的保荐代表人、协办人及项目组其他成员情况、联系地址、 | | 电话和其他通讯方式 . | | 四、关于保荐人是否存在可能影响公正履行保荐职责情形的说明 . | | 五、保荐机构按照有关规定应当承诺的事项…… ...

甬兴证券有限公司 关于 广东香山衡器集团股份有限公司 2025 年度向特定对象发行股票 之 证券发行保荐书 保荐机构（主承销商） 二〇二五年十一月 广东香山衡器集团股份有限公司 发行保荐书 保荐人及保荐代表人声明 甬兴证券有限公司及本项目保荐代表人蒋敏、王学飞根据《中华人民共和国 公司法》《中华人民共和国证券法》等有关法律、法规和中国证监会的有关规定 以及深圳证券交易所的有关业务规则，诚实守信，勤勉尽责，严格按照依法制订 的业务规则、行业执业规范和道德准则出具本发行保荐书，并保证发行保荐书的 真实性、准确性和完整性。 3-1-1 | 保荐人及保荐代表人声明 | | --- | | 目 求 … | | 释 义… | | 第一节 本次证券发行基本情况 | | 一、本次证券发行具体负责推荐的保荐代表人 . | | 二、本次证券发行项目协办人及项目组其他成员 | | 三、发行人基本情况 | | 四、保荐机构与发行人关联关系的说明 . | | 五、保荐机构内部审核程序和内核意见 | | 第二节 保荐机构承诺事项………………………………………………………………………………………………………………………………………………… ...

国浩律师（上海）事务所 关 于 广东香山衡器集团股份有限公司 向特定对象发行股票 之 补充法律意见书 上海市静安区山西北路 99 号苏河湾中心 25-28 楼 邮编：200085 25-28/F, Suhe Centre, 99 North Shanxi Road, Jing'an District, Shanghai, China 电话/Tel: (+86)(21) 5234 1668 传真/Fax: (+86)(21) 5243 3320 网址/Website: http://www.grandall.com.cn 二〇二五年十一月 | 一、问询问题 1 | 4 | | | --- | --- | --- | | 二、问询问题 3 | 34 | | | 第二节 | 签署页 | 37 | 国浩律师（上海）事务所 补充法律意见书 国浩律师（上海）事务所 关于广东香山衡器集团股份有限公司 向特定对象发行股票之 补充法律意见书 致：广东香山衡器集团股份有限公司 本所依据与香山股份签署的《非诉讼法律服务委托协议》，担任香山股份 本次向特定对象发行股票特聘专项法律顾问。 本所律师根据《公司法》《证券法》《发行管理办法 ...

关于广东香山衡器集团股份有限公司 申请向特定对象发行股票的审核问询函回复的专项说明 KPMG Huazhen LLP 8th Floor, KPMG Tower Oriental Plaza 1 East Chang An Avenue Beijing 100738 China Telephone +86 (10) 8508 5000 Fax +86 (10) 8518 5111 Internet kpmg.com/cn 毕马威华振会计师事务所 (特殊普通合伙) 中国北京 东长安街 1 号 东方广场毕马威大楼 8 层 邮政编码:100738 电话 +86 (10) 8508 5000 传真 +86 (10) 8518 5111 网址 kpmg.com/cn 关于广东香山衡器集团股份有限公司 申请向特定对象发行股票的审核问询函回复的专项说明 深圳证券交易所： 毕马威华振会计师事务所 (特殊普通合伙) (以下简称"本所"或"我们") 接受广 东香山衡器集团股份有限公司 (以下简称"公司"或"发行人") 的委托，按照中国注 册会计师审计准则 (以下简称"审计准则") 审计了发行人 2022 年 12 月 31 日、 ...

Core Viewpoint - The announcement details the completion of a share reduction plan by a major shareholder, Zhao Yukun, of Guangdong Xiangshan Weighing Instrument Group Co., Ltd, indicating a significant change in shareholding structure without affecting control or governance [1][4]. Group 1: Shareholder Reduction Plan - Zhao Yukun, a shareholder holding over 5%, planned to reduce his holdings by up to 3,915,000 shares, representing 3% of the total share capital, through both centralized bidding and block trading from September 29 to December 28, 2025 [2]. - The reduction included a maximum of 1,305,000 shares through centralized bidding (1% of total share capital) and 2,610,000 shares through block trading (2% of total share capital) [2]. Group 2: Implementation of Share Reduction - Zhao Yukun executed the reduction between November 19 and November 20, 2025, selling a total of 2,771,300 shares, which accounted for 2.10% of the total share capital [3]. - From October 20 to November 20, 2025, he cumulatively reduced his holdings by 1,300,000 shares and 2,600,000 shares, representing 0.98% and 1.97% of the total share capital, respectively [3]. Group 3: Compliance and Impact - The share reduction plan complied with relevant laws and regulations, including the Securities Law of the People's Republic of China and the Shenzhen Stock Exchange rules, and did not violate any existing commitments [4]. - The completion of the share reduction will not lead to a change in the company's control or significantly impact its governance structure or ongoing operations [6].

Core Points - The company Xiangshan Co., Ltd. announced that major shareholder Zhao Yukun has notified the company of his plan to reduce his shareholding [1] - Zhao Yukun reduced his holdings by a total of 2.10% of the company's total share capital, amounting to 2,771,300 shares during the period from November 19 to November 20, 2025 [1] - From October 20 to November 20, 2025, Zhao Yukun cumulatively reduced his holdings by 1,300,000 shares and 2,600,000 shares, representing 0.98% and 1.97% of the total share capital, respectively [1] Summary by Categories Shareholder Activity - Zhao Yukun, a shareholder holding more than 5% of the company, has completed his share reduction plan [1] - The reduction was executed through centralized trading and block trading methods [1] Shareholding Changes - The total shares reduced by Zhao Yukun during the specified periods were 2,771,300 shares, which is 2.10% of the total share capital [1] - The specific reductions during the earlier period were 1,300,000 shares (0.98%) and 2,600,000 shares (1.97%), with adjusted percentages of 1.00% and 2.00% when excluding the company's repurchase account [1]

Core Points - Zhao Yukun, a shareholder of Xiangshan Co., reduced his stake in the company by 2.10%, selling a total of 2.7713 million shares from November 19 to November 20, 2025 [1] - After the reduction, Zhao Yukun holds 17.04 million shares, decreasing his ownership percentage from 15.85% to 12.90% [1] - This share reduction was part of a previously disclosed plan and has been fully executed, with no significant impact on the company's governance structure or ongoing operations [1]