Core Viewpoint - Zhongzhong Group plans to launch a partial tender offer to acquire 189 million shares of Quanyin High-Tech, representing 20% of the total issued shares, at a price of 11.85 CNY per share, which is a premium of approximately 16.63% over the closing price of 10.16 CNY on November 20 [1][4] Group 1: Tender Offer Details - The total funding required for the tender offer is estimated to be no more than 2.245 billion CNY [4] - After the completion of the tender offer, Zhongzhong Group will hold up to 384 million shares, accounting for approximately 40.51% of Quanyin High-Tech's total share capital [1][4] - The tender offer is classified as a voluntary offer and is not intended to terminate the listing status of Quanyin High-Tech [4] Group 2: Shareholder Agreements - Zhongzhong Group has terminated the voting rights delegation and concerted action agreement with previous shareholders Jia Guilan and Wang Yulin, while maintaining its direct shareholding of 20.51% [4] - Following the termination, Zhongzhong Group will no longer combine voting rights with Jia Guilan and Wang Yulin, although they have committed to accept the tender offer with their freely tradable shares [4] Group 3: Industry Context - Zhongzhong Group is a national-level seed company established in 1978, recognized as a leading enterprise in agricultural industrialization by eight ministries [5] - Quanyin High-Tech is one of the first companies certified by the Ministry of Agriculture and Rural Affairs for integrated seed breeding and promotion, focusing on the research, breeding, and marketing of major crops [6] Group 4: Competitive Landscape - The tender offer may be closely related to Zhongzhong Group's impending commitment to resolve competition issues with Quanyin High-Tech, which was established when Zhongzhong Group became the controlling shareholder in 2021 [7] - Zhongzhong Group had committed to resolving any competitive situations between itself and Quanyin High-Tech within five years of the previous equity change, which is approaching its deadline [7] Group 5: Financial Performance - In the first three quarters of the year, Quanyin High-Tech reported revenue of approximately 1.934 billion CNY, a year-on-year decrease of 5.9%, with a net loss attributable to shareholders of approximately 180 million CNY [8] - The company’s third-quarter revenue was 498 million CNY, down 22.78% year-on-year, and the net loss for the quarter was 139 million CNY, a decline of 123.34% year-on-year [8] - Quanyin High-Tech aims to achieve a revenue target of 5 billion CNY and a net profit of 300 million CNY by 2025, requiring significant revenue growth in the fourth quarter [8]

登录新浪财经APP 搜索【信披】查看更多考评等级 收购人财务顾问 上市公司名称：安徽荃银高科种业股份有限公司 股票上市地点：深圳证券交易所创业板 ■ 股票简称：荃银高科 签署日期：二〇二五年十一月 股票代码：300087 收购人名称：中国种子集团有限公司 收购人住所：海南省三亚市崖州区还金路金茂南繁科创中心A座8楼001号 通讯地址：海南省三亚市崖州区还金路金茂南繁科创中心A座8楼001号 重要声明 本要约收购报告书摘要的目的仅为向社会公众投资者提供本次要约收购的简要情况，投资者在做出是否 预受要约的决定之前，应当仔细阅读要约收购报告书全文，并以此作为投资决定的依据。要约收购报告 书全文将刊登于深圳证券交易所网站（http://www.szse.cn）。 本次收购要约尚未生效，具有相当的不确定性。要约收购报告书全文将在收购人正式发出要约收购之日 起刊登于深圳证券交易所网站（http://www.szse.com.cn）。 特别提示 本部分所述的词语或简称与本报告书摘要"释义"部分所定义的词语或简称具有相同的涵义。 1、本次要约收购的收购人为中种集团。本次要约收购为收购人向除收购人以外的荃银高科全体股东发 出的 ...

Core Viewpoint - The announcement of a partial tender offer by Zhongzhong Group for 189 million shares of Quanyin High-Tech, representing 20% of its total issued shares, is a strategic move to address potential competition issues and strengthen its position in the agricultural seed industry [1][2]. Group 1: Tender Offer Details - Zhongzhong Group plans to acquire 189 million shares of Quanyin High-Tech at a price of 11.85 CNY per share, totaling an estimated funding requirement of no more than 2.245 billion CNY [1]. - The tender offer price represents a premium of approximately 16.63% over Quanyin High-Tech's closing price of 10.16 CNY per share as of November 20 [1]. - Upon completion of the tender offer, Zhongzhong Group could hold up to 384 million shares, accounting for approximately 40.51% of Quanyin High-Tech's total share capital [1]. Group 2: Background on Zhongzhong Group - Zhongzhong Group, established in 1978, is a wholly-owned subsidiary of China National Chemical Corporation and is recognized as a leading enterprise in agricultural industrialization [1]. - The company specializes in the research, production, processing, and marketing of crop seeds, covering major crops such as rice, corn, wheat, and vegetables [1]. Group 3: Competition and Commitment - The tender offer is closely related to Zhongzhong Group's commitment to resolve competition issues with Quanyin High-Tech, which arose after Zhongzhong became the controlling shareholder in 2021 [2]. - Zhongzhong Group had previously disclosed potential overlaps in business operations, particularly in the rice and wheat seed sectors, and committed to resolving these issues within five years [2]. Group 4: Financial Performance - Quanyin High-Tech reported a revenue of 1.934 billion CNY for the first three quarters of the year, a year-on-year decline of 5.90%, with a net loss of 180 million CNY, an increase in losses by 113.45% [3]. - The company aims to achieve a revenue target of 5 billion CNY and a net profit of 300 million CNY by 2025, requiring a significant increase in Q4 performance to meet these goals [3]. - Historically, Quanyin High-Tech has never achieved its highest quarterly revenue or profit targets in Q4, with previous highs of 2.654 billion CNY in revenue and 263 million CNY in net profit [3].

Key Points - China Uranium Industry (001280) will open for subscription on November 21, becoming the first uranium stock in A-shares, focusing on natural uranium resource mining, sales, and trade [2] - The Ministry of Commerce is strictly implementing the consensus reached during the China-US Kuala Lumpur economic and trade consultations [4] - The Minister of Commerce discussed the ASML semiconductor issue with the UK Trade Minister, emphasizing that the responsibility lies with the Netherlands [5] - The Ministry of Foreign Affairs stated that Japanese seafood has no market in China due to recent political tensions [6] - The China Securities Regulatory Commission is enhancing capital market functions to support high-quality development [7] - Guangdong Province is focusing on developing cutting-edge technology and addressing key technological challenges [8] - Guangdong is promoting innovation in artificial intelligence and robotics, launching initiatives to expand new industrial scenarios [9] - The Chinese Academy of Sciences signed a cooperation agreement with the Shanghai government to enhance the city's innovation capabilities [10] - The Ministry of Commerce is guiding localities to improve second-hand car export policies, shifting focus from scale to value [11] - The Guangzhou Futures Exchange adjusted trading fees and limits for lithium carbonate futures contracts [12] - The 18th China-EU Investment Trade and Technology Cooperation Fair opened, with EU representatives optimistic about the Chinese market [13] Company News - Gree Electric has developed core components for humanoid robots [15] - Pingtan Development's stock will resume trading on November 21 after completing a suspension review [15] - Vanke A approved a shareholder loan from Shenzhen Metro Group [15] - Qianjin High-Tech is set to acquire 20% of the company's shares from Zhongzhong Group [15] - Fulede's executives plan to reduce their holdings by up to 85,000 shares [15] - Xidian New Energy identifies Tesla as its largest end customer [15] - Lian Micro's VCSEL chips are now used in smart driving applications with large-scale shipments [15] - New Yichang's semiconductor business has secured orders worth several million yuan [15] - Haohua Technology is expanding into electrolyte and lithium hexafluorophosphate products [15] - Huaya Intelligent's shareholders plan to reduce their holdings by up to 2.98% [15] - Wajinke's controlling shareholder intends to reduce holdings by up to 3% [15] - Oriental Yuhong's subsidiary plans to acquire 60% of Brazil's Novakem to enhance overseas operations [15] - Hefei China has seen its stock price deviate significantly from fundamentals, posing risks for investors [15] - Tuojing Technology's national integrated circuit fund plans to reduce holdings by up to 3% [15] - Aidi Precision plans to repurchase shares worth 100 million to 200 million yuan [15] - Jiumuwang's stock trading shows signs of market overheating and irrational speculation [15] - Hangcai Co. plans to repurchase shares worth 50 million to 100 million yuan [15] - Qinglong Pipe Industry won a procurement project worth 294 million yuan [16] - Feiwo Technology's actual controller plans to increase holdings by 40 million to 70 million yuan [16] - China Nuclear Construction signed new contracts worth 123.84 billion yuan as of October [16]

Group 1 - The current A-share market is in a phase of consolidation and preparation for future investments, with expectations of a potential upward trend in the near future [1][8] - The Hang Seng Index Company announced the results of the third quarter review of the Hang Seng Index series [2] - The U.S. stock market saw a collective decline, with the Dow Jones down 0.84%, Nasdaq down 2.15%, and S&P 500 down 1.56%, primarily driven by a drop in technology stocks [3] Group 2 - China's foreign trade has maintained stable growth despite external pressures, with a focus on supporting new business models like cross-border e-commerce and enhancing logistics systems [4] - The Chinese government is emphasizing the need for high-quality development in manufacturing and is increasing financial support for key technologies [4] - The China Chemical and Physical Power Industry Association plans to release guidelines to address the challenges faced by the lithium iron phosphate industry, including price competition and industry standards [6] Group 3 - In September 2025, the domestic smartphone market shipped 27.93 million units, a year-on-year increase of 10.1%, with 5G smartphones accounting for 86.3% of total shipments [7] - The total smartphone shipments for the first nine months of 2025 reached 220 million units, a slight decline of 0.3% year-on-year, with 5G smartphones showing minimal growth [7]

11月20日晚间，荃银高科（300087）公告称，公司收到中种集团出具的要约收购报告书摘要，中种集团拟向除收购人以外 的荃银高科全体股东发出部分要约，预定要约收购股份数量为1.89亿股，约占荃银高科已发行股份总数的20.00%。本次要 约收购完成后，收购人最多合计持有荃银高科3.84亿股股份，约占荃银高科总股本的40.51%。 溢价约16.63% 荃银高科称，本次要约收购所需资金总额预计不超过22.45亿元。本次要约收购完成后，收购人最多合计持有荃银高科3.84 亿股股份，约占荃银高科总股本的40.51%。本次要约收购类型为主动要约，并非履行法定收购义务，且不以终止上市公司 上市地位为目的。 同日，荃银高科还发布了一份关于股东解除一致行动关系暨权益变动的提示性公告。中种集团与原先的一致行动人贾桂 兰、王玉林签署了《表决权委托及一致行动协议终止协议》。 本次权益变动前，中种集团直接持有公司20.51%股份，并通过一致行动人合计控制公司28.36%的表决权。权益变动后，中 种集团直接持股比例不变，但不再与贾桂兰、王玉林合并计算表决权。 此外，贾桂兰、王玉林不可撤销地承诺，以其所持荃银高科无限售条件流通股份有效申报 ...

格隆汇11月20日丨荃银高科(300087.SZ)公布，收到公司控股股东中国种子集团有限公司（简称"中种集 团"）与其一致行动人贾桂兰女士、王玉林先生的通知，其三方协商一致签署了《表决权委托及一致行 动协议终止协议》，贾桂兰女士、王玉林先生退出与公司控股股东中种集团的一致行动关系。本次一致 行动关系解除后，贾桂兰女士、王玉林先生不再是公司控股股东中国种子集团有限公司的一致行动人， 公司控股股东中国种子集团有限公司合计控制公司20.51%股份对应的表决权。 ...

格隆汇11月20日丨荃银高科(300087.SZ)公布，收到公司控股股东中国种子集团有限公司（简称"中种集 团"）与其一致行动人贾桂兰女士、王玉林先生的通知，其三方协商一致签署了《表决权委托及一致行 动协议终止协议》，贾桂兰女士、王玉林先生退出与公司控股股东中种集团的一致行动关系。本次一致 行动关系解除后，贾桂兰女士、王玉林先生不再是公司控股股东中国种子集团有限公司的一致行动人， 公司控股股东中国种子集团有限公司合计控制公司20.51%股份对应的表决权。 ...

荃银高科公告，公司于2025年11月20日收到中国种子集团有限公司就本次要约收购事宜出具的《安徽荃 银高科种业股份有限公司要约收购报告书摘要》。本次要约收购的收购人为中种集团，预定要约收购股 份数量为1.89亿股，约占荃银高科已发行股份总数的20.00%，要约收购价格为11.85元/股。 ...

关于 《安徽荃银高科种业股份有限公司要约收购报告书摘要》 之 专项财务顾问意见 致：中国种子集团有限公司 中国国际金融股份有限公司 中国国际金融股份有限公司作为本次中国种子集团有限公司（以下简称"收 购人"）要约收购安徽荃银高科种业股份有限公司（以下简称"荃银高科"）股份 的财务顾问，已对收购人为本次要约收购编制的《安徽荃银高科种业股份有限公 司要约收购报告书摘要》（以下简称"要约收购报告书摘要"）及相关事项进行了 核查，并出具以下专项财务顾问意见： 本财务顾问认为，截至要约收购报告书摘要签署之日，收购人本次要约收购 符合《中华人民共和国证券法》《上市公司收购管理办法》等法律法规的规定， 收购人具备收购荃银高科股份的主体资格，不存在《上市公司收购管理办法》第 六条规定的情形及法律法规禁止收购上市公司的情形，收购人具备实际履行本次 要约收购的能力。 本财务顾问同意收购人在要约收购报告书摘要中引用上述专项财务顾问意 见。 （本页无正文，为《中国国际金融股份有限公司关于<安徽荃银高科种业股 份有限公司要约收购报告书摘要>之专项财务顾问意见》签章页） 中国国际金融股份有限公司 年 月 日 ...