针对今日市场热议追觅创始人旗下逐越鸿智斥资逾22.82亿元拿下嘉美包装公司控制权。追觅科技有关 人士向记者表示，本次收购资金全部来源于俞浩及核心团队的自有与自筹资金，无来自追觅科技公司的 资金，不会影响追觅科技公司正常运营。"逐越鸿智将以'战略赋能者'身份参与嘉美包装运营，依托追 觅在技术创新与全球资源上的优势，推动其在智能化生产、高端产品研发及全球化布局上实现突 破。"（科创板日报） ...

Group 1 - The core point of the article is that Chasing Technology may be planning a reverse merger with Jiamei Packaging, which has recently undergone a significant share transfer, making Suzhou Zhuyue Hongzhi the new controlling shareholder [2][3] - The transaction involves Suzhou Zhuyue Hongzhi acquiring 54.90% of Jiamei Packaging's shares, with the original controlling shareholder, Zhongbao Hong Kong, selling 29.90% of its shares at a price of 4.45 yuan per share, totaling approximately 1.243 billion yuan [4][5] - Jiamei Packaging is the largest metal can manufacturer in China, with major clients including Yangyuan Beverage, Wanglaoji, and Dali Group, and reported a revenue of 2.04 billion yuan and a net profit of 390 million yuan in the first three quarters of this year [7][8] Group 2 - The total cost of the acquisition is approximately 2.282 billion yuan, which includes 1.243 billion yuan for the share transfer and an estimated 1.039 billion yuan for a tender offer for an additional 25% of shares [8] - The funding for the acquisition will primarily come from the acquirer's own or self-raised funds, with some funds potentially sourced through bank loans, which are currently under negotiation [8][11] - Chasing Technology, a leading robot vacuum company, has reported significant revenue growth, with expectations to exceed 15 billion yuan in total revenue for 2024, indicating a strong market position compared to competitors [12][13] Group 3 - Chasing Technology's founder, Yu Hao, is under some financial pressure due to the company's ambitious expansion plans, including entering the automotive and drone industries, which require substantial capital investment [17][19] - The company has a wide range of business units and product lines, including but not limited to vacuum cleaners, air purifiers, and electric vehicles, indicating a diverse portfolio [21] - Recent rumors about potential bankruptcy have been publicly addressed by Yu Hao, who stated that the company has sufficient cash flow and has repurchased approximately 5 billion yuan of shares to increase his ownership stake [22][23] Group 4 - Influences on Yu Hao and Chasing Technology's expansion include figures like Lei Jun, who has shaped the company's strategic direction, and Chang Jing, who has pursued similar business ventures after separating from Xiaomi's ecosystem [25][28] - The acquisition strategy employed by Zhuyue Hongzhi mirrors that of other companies in the industry, such as Zhiyuan Robotics, which also utilized a similar approach to gain control of a listed company [29]

Core Viewpoint - The acquisition of 54.90% of Jamei Packaging by Zhuyue Hongzhi aims to integrate strategic resources and promote industrial upgrades, with a total transaction value of approximately 2.282 billion yuan [1][6]. Group 1: Acquisition Details - Zhuyue Hongzhi plans to acquire 54.90% of Jamei Packaging's shares through a combination of agreement and tender offer, with the stock resuming trading on December 17 [1]. - The acquisition will change the controlling shareholder from China Food Packaging Co., Ltd. to Zhuyue Hongzhi, with Yu Hao, founder of the high-tech brand Chasing Technology, becoming the actual controller of Jamei Packaging [1][6]. - The share transfer involves purchasing 279,255,722 shares at a price of 4.45 yuan per share, representing 29.90% of the total share capital, with additional plans for a tender offer to acquire 233,491,406 shares, or 25.00% of the total [5][6]. Group 2: Company Overview - Jamei Packaging is a leading platform enterprise in the beverage packaging industry, providing comprehensive services including research, design, production, and sales of beverage packaging containers [3][4]. - The company operates 17 subsidiaries and offers a wide range of beverage packaging solutions, including various types of cans and aseptic paper packaging, serving major clients like Yangyuan Beverage and Wanglaoji [3][4]. - Jamei Packaging has established a robust beverage filling service capability across multiple regions and product types, supporting both established brands and new entrants in the beverage market [4][5]. Group 3: Strategic Implications - The entry of Zhuyue Hongzhi is expected to leverage its strategic resources to empower Jamei Packaging in areas such as digitalization, smart manufacturing, and supply chain optimization, enhancing the company's competitiveness [2][3]. - Jamei Packaging holds a significant market share of approximately 20% in the beverage metal packaging market, positioning it favorably against competitors [6]. - The acquisition aligns with recent regulatory encouragement for market-oriented mergers and acquisitions aimed at technological innovation and industrial upgrades, indicating a trend towards deeper integration of traditional industries with technological advancements [6].

Core Viewpoint - The acquisition of control over Jia Mei Packaging by Zhu Yue Hong Zhi, associated with Chasing Technology's founder Yu Hao, has sparked speculation about a potential reverse listing for Chasing Technology, despite the differing business focuses of the two companies [2][5]. Group 1: Acquisition Details - Jia Mei Packaging announced on December 16 that it is undergoing a change in control, with its major shareholder, China Food Packaging Co., planning to transfer 279 million shares (29.90% of total shares) to Zhu Yue Hong Zhi [3][4]. - The transaction involves a two-step process: first, the transfer of shares from China Food Packaging to Zhu Yue Hong Zhi, followed by a partial tender offer to acquire an additional 233 million shares (25.00% of total shares) [4][5]. - The total price for the shares in both steps is set at 4.45 yuan per share, amounting to approximately 2.282 billion yuan [4]. Group 2: Company Background - Jia Mei Packaging specializes in the production and sales of three-piece cans, two-piece cans, aseptic paper packaging, and PET bottles, primarily serving the beverage industry [5]. - Zhu Yue Hong Zhi was established in September 2023 and is controlled by Yu Hao, who also founded Chasing Technology, a company focused on high-speed digital motors and intelligent algorithms [3][5]. - The acquisition is positioned as a long-term investment, with Zhu Yue Hong Zhi expressing confidence in Jia Mei Packaging's business prospects and committing to support its existing operations without immediate plans for significant changes [5].

Core Viewpoint - The acquisition of control over Jia Mei Packaging by the founder of Chasing Technology, Yu Hao, is a strategic move to secure a financing platform in the A-share market, facilitating the rapid expansion of Chasing's business across multiple sectors, while bypassing the lengthy IPO approval process [1][12]. Group 1: Acquisition Details - Yu Hao plans to acquire control of Jia Mei Packaging through a series of transactions, with a total transaction value of approximately 2.282 billion RMB [1][4]. - The first step involves the transfer of 279 million shares from the original controlling shareholder, China Food Packaging Co., to Yu Hao's controlled entity, Suzhou Zhuyue Hongzhi Technology Development Partnership, at a price of 4.45 RMB per share, totaling 1.243 billion RMB [1][8]. - Following the share transfer, the original controlling shareholder will relinquish all voting rights associated with the shares [2][9]. Group 2: Control and Future Plans - Zhuyue Hongzhi plans to further consolidate control by acquiring an additional 233 million shares through a partial tender offer, which represents 25% of the total share capital, with an estimated total cost of no more than 1.039 billion RMB [3][10]. - If successful, Zhuyue Hongzhi will hold over 50% of Jia Mei Packaging's shares, allowing it to nominate all nine members of the board of directors [3][10]. - Jia Mei Packaging has committed to achieving a minimum net profit of 120 million RMB annually over the next five fiscal years [4][11]. Group 3: Business Expansion and Synergies - Chasing Technology's product range includes high-end home appliances, smart vehicles, and personal care products, indicating a broad market presence [5][12]. - The acquisition is expected to leverage Jia Mei's stable cash flow and manufacturing capabilities, while Chasing can provide advanced technologies, enhancing Jia Mei's operations and exploring new market opportunities [6][13]. - The move is seen as a foundational step for Chasing to build a dual platform of manufacturing and capital, allowing for future business spin-offs and industry chain mergers [6][13].

Group 1 - The capital market reacted positively to the acquisition of Jamei Packaging, with the stock hitting a daily limit up on its resumption of trading, closing at a total market value of 4.796 billion yuan [1] - Jamei Packaging's controlling shareholder, China Food Packaging Co., signed a share transfer agreement with Suzhou Zhuyue Hongzhi Technology Development Partnership, transferring 279 million shares at a price of 4.45 yuan per share, totaling approximately 1.243 billion yuan [3] - Zhuyue Hongzhi plans to launch a partial tender offer to acquire an additional 233 million shares, representing 25% of the total share capital, at the same price of 4.45 yuan per share [3][4] Group 2 - If the share transfer and tender offer are completed, Zhuyue Hongzhi will hold 54.90% of Jamei Packaging, with a total transaction value of approximately 2.282 billion yuan, changing the controlling shareholder to Zhuyue Hongzhi and the actual controller to Yu Hao [4] - Yu Hao, known as the founder and CEO of the smart cleaning appliance company, Dreame Technology, has a wealth of 8.5 billion yuan, ranking 618th on the 2024 Hurun Rich List [4] - Jamei Packaging, as one of the largest metal can manufacturers in China, provides a full range of beverage packaging services and has seen fluctuations in its performance, with revenue dropping to 3.2 billion yuan in 2024 from a peak of 3.452 billion yuan in 2021 [6][7] Group 3 - In the first three quarters of 2025, Jamei Packaging's revenue decreased by 1.94% to 2.039 billion yuan, while net profit dropped significantly by 47.25% to 39.16 million yuan [7] - The original controlling shareholder made a performance commitment, ensuring that the company's net profit will not be less than 120 million yuan annually from 2026 to 2030, with cash compensation if the target is not met [7]

中证鹏元资信评估股份有限公司 中证鹏元公告【2025】577 号 中证鹏元关于关注嘉美食品包装（滁州）股份有限公司筹 划控制权变更事项的公告 中证鹏元资信评估股份有限公司（以下简称"中证鹏元"）对嘉 美食品包装（滁州）股份有限公司（以下简称"嘉美包装"或"公司"， 股票代码：002969.SZ）及其发行的下述债券开展评级。除评级委托 关系外，中证鹏元及评级从业人员与公司不存在任何足以影响评级行 为独立、客观、公正的关联关系。 | 债券简称 | 上一次评级时间 | | | | | 上一次评级结果 | | | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | 主体等级 债项等级 | | | 评级展望 | | 嘉美转债 | 2025 年 6 月 | 17 | 日 | | AA AA | | 负面 | 根据公司于 2025 年 12 月 9 日发布的《关于筹划控制权变更事项 停牌的公告》，公司控股股东中国食品包装有限公司（以下简称"中 包香港"）正在筹划有关公司控制权变更事宜，该事项可能导致公司 控股股东、实际控制人发生变更。根据公司于 2025 年 ...

Market Overview and Sector Characteristics - The Shanghai Composite Index closed up by 1.19%, while the Shenzhen Component Index fell by 2.40%, with the median change in A-shares being an increase of 0.61% [1] - A total of 49 stocks hit the daily limit up, an increase of 7 from the previous day, while 19 stocks hit the limit down, an increase of 4 [2] Industry Characteristics - The sectors with the most limit-up stocks today were communication equipment, specialized equipment, and general equipment [3] - In the communication equipment sector, 5 stocks reached the limit up, driven by accelerated 5G construction and AI computing demand [4] - The specialized equipment sector saw 4 stocks limit up, supported by policy backing and recovering orders [4] - The general equipment sector had 3 stocks limit up, boosted by policy support for equipment upgrades and enhanced manufacturing recovery expectations [4] Concept Characteristics - The most represented concepts among limit-up stocks were optical communication, liquid cooling servers, and consumer sectors [5] - In the optical communication concept, 7 stocks hit the limit up, benefiting from the explosive demand for AI computing and the acceleration of 800G optical module shipments [5] - The liquid cooling server concept also had 7 stocks limit up, as liquid cooling technology becomes the mainstream solution for heat dissipation due to AI computing demand [5] - The consumer sector had 6 stocks limit up, supported by policy stimulus and the year-end consumption peak, with strong expectations for consumer potential [5] Limit-Up Stock List - Among the limit-up stocks, 3 reached historical highs, including Yingweike, Ping An Electric, and Huanxu Electronics [6] - 10 stocks reached near one-year highs, including Shengtong Energy, Jiamei Packaging, and others [7][8] Main Capital Flow - The top 5 stocks with the highest net inflow of main capital among limit-up stocks were Yingweike, Guojiji Heavy Industry, Guangxun Technology, ShenNan Circuit, and Meinian Health [9][10] - The stocks with the highest net inflow as a percentage of market value included Wangzi New Materials, Nanjing Business Travel, and others [10] Continuous Limit-Up Situation - There were 41 first-limit stocks today, with 5 stocks achieving a second limit up and 3 stocks achieving three or more consecutive limit ups [11] - The top 5 stocks with the most consecutive limit ups included Baida Group, Shengtong Energy, and others [11]

Core Viewpoint - The founder of ZhiMi Technology, Yu Hao, is set to invest approximately 2.282 billion yuan to acquire control of JiaMei Packaging (002969.SZ) through a two-step process involving a share transfer and a tender offer [1][2]. Group 1: Acquisition Details - The first step involves a share transfer agreement where JiaMei Packaging's controlling shareholder, ZhongBao HongKong, will transfer 279 million shares (29.9% of total shares) to Suzhou ZhuYue HongZhi Technology Development Partnership at a price of 4.45 yuan per share, totaling 1.243 billion yuan [1]. - The second step will see ZhuYue HongZhi issue a tender offer to acquire approximately 233 million shares (25% of total shares) from other shareholders at the same price of 4.45 yuan per share, with ZhongBao HongKong committing to accept the offer for its 11.02% stake [1][2]. Group 2: Ownership and Market Impact - If the share transfer and tender offer are completed, ZhuYue HongZhi will hold a total of 54.9% of JiaMei Packaging, with the total transaction value around 2.282 billion yuan, resulting in a change of control from Chen Min and Li CuiLing to Yu Hao [2]. - Following the announcement, JiaMei Packaging's stock hit the daily limit, reflecting market speculation about ZhiMi Technology potentially seeking a reverse merger for listing [3]. Group 3: Company Background and Commitments - JiaMei Packaging is one of the largest metal can manufacturers in China, holding a significant market share in three-piece cans and related printing iron business, with major clients including well-known brands like Yangyuan Beverage, Wanglaoji, and Nongfu Spring [3]. - To ensure a smooth transition, ZhongBao HongKong and JiaMei Packaging's current controlling shareholders have committed to maintaining a minimum annual net profit of 120 million yuan for the next five fiscal years (2026-2030), with cash compensation required if this target is not met [3].

Core Viewpoint - The control of Jiamei Packaging will change hands through a combination of share transfer and a partial tender offer, with the new controlling shareholder being Zhuyue Hongzhi, an investment platform under the actual controller of Chasing Technology, Yu Hao [1][2]. Group 1: Share Transfer and Tender Offer - The original controlling shareholder, Zhongbao Hong Kong, will transfer 279 million shares, representing 29.9% of the total share capital, to Zhuyue Hongzhi at a price of 4.45 yuan per share, totaling 1.243 billion yuan [1]. - Zhuyue Hongzhi or its designated affiliates will make a tender offer to acquire an additional 233 million shares, accounting for 25% of the total share capital, at the same price of 4.45 yuan per share [1]. Group 2: Ownership Structure and Market Reaction - If all shareholders accept the tender offer, Zhuyue Hongzhi will hold a total of 512 million shares, representing 54.9% of Jiamei Packaging's total share capital, with a total transaction value of approximately 2.278 billion yuan [2]. - The transaction price of 4.45 yuan per share is approximately 2.4% lower than the pre-suspension price of 4.56 yuan per share, with the stock having risen over 16% in the days leading up to the suspension [2]. - Following the resumption of trading, Jiamei Packaging's stock hit the daily limit, closing at 5.02 yuan per share, with a current market capitalization of 4.796 billion yuan [2]. Group 3: Company Performance and Future Commitments - Jiamei Packaging is one of the largest metal can manufacturers in China, holding a leading market share in the three-piece can and related printing iron business [2]. - The company's financial performance has been underwhelming, with projected revenues of 2.98 billion yuan, 3.152 billion yuan, and 3.2 billion yuan for 2022 to 2024, and net profits of 17.03 million yuan, 154 million yuan, and 183 million yuan for the same period [2]. - For the first three quarters of 2025, the company reported revenues of 2.039 billion yuan, a year-on-year decline of 1.94%, and a net profit of 39.16 million yuan, a significant year-on-year decrease of 47.25% [2]. - To ensure a smooth transition after the change in control, the original controlling shareholders have committed to guaranteeing that Jiamei Packaging's net profit will not fall below 120 million yuan annually for the next five years (2026-2030), with performance compensation obligations if targets are not met [3].