Core Viewpoint - The announcement reveals that Mr. Wang Guojiang plans to reduce his stake in Keheng Co., Ltd. by selling up to 5,517,867 shares, which represents approximately 2% of the company's total share capital, within three months after the disclosure of the reduction plan [1] Summary by Relevant Sections - **Shareholding Details** - Mr. Wang Guojiang currently holds 22,695,616 shares, accounting for 8.23% of the total share capital of Keheng Co., Ltd. [1] - **Reduction Plan** - The planned reduction will occur through block trading and is set to take place within three months following the disclosure of the reduction plan [1] - The maximum number of shares to be reduced is 5,517,867, which is approximately 2% of the company's total share capital [1] - **Adjustment Clause** - The number of shares to be reduced may be adjusted in the event of any changes in share capital, such as stock dividends, capital reserve transfers, or share buybacks during the reduction period [1]

Core Viewpoint - The company, Keheng Co., Ltd. (300340.SZ), announced that its shareholder, Wang Guojiang, plans to reduce his shareholding by up to 5.5179 million shares, which represents approximately 2% of the company's total share capital, through block trading within three months after the disclosure of this reduction plan [1] Summary by Category - **Shareholder Reduction Plan** - Wang Guojiang intends to reduce his holdings by a maximum of 5.5179 million shares [1] - This reduction accounts for about 2% of the company's total share capital [1] - The reduction will occur through block trading [1]

Group 1 - The core point of the announcement is that Mr. Wang Guojiang plans to reduce his shareholding in Keheng Co., Ltd. by up to approximately 5.52 million shares, which accounts for about 2% of the total share capital, within three months after the disclosure of the reduction plan [1] - As of the date of the announcement, Mr. Wang holds approximately 22.7 million shares, representing 8.23% of the company's total share capital [1] - The company's revenue composition for the first half of 2025 is reported as 75.15% from industrial operations and 24.85% from equipment [1] Group 2 - The current market capitalization of Keheng Co., Ltd. is reported to be 4.2 billion yuan [2]

证券代码：300340 证券简称：科恒股份 公告编号：2025-113 江门市科恒实业股份有限公司 关于持股 5%以上股东股份减持预披露公告 股东万国江先生保证向本公司提供的信息内容真实、准确和完整，没有虚假记 载、误导性陈述或重大遗漏。 2、减持原因：股东个人资金需求 3、股份来源：公司首次公开发行前取得的股份、资本公积金转增股本及股权激 励获得的股份。 4、拟减持股份数量及比例：万国江先生本次计划以大宗交易方式减持本公司股 份不超过 5,517,867 股，即不超过公司总股本比例 2.00%。(若此期间有送股、资本 公积金转增股本等股份变动事项，对上述数量进行相应调整）。 本公司及董事会全体成员保证公告内容与信息披露义务人提供的信息一致。 特别提示： 截至本公告披露日的前一交易日，万国江先生持有公司股份 22,695,616 股（占 公司总股本比例 8.23%），其计划自本减持计划披露之日起十五个交易日后的三个 月内，以大宗交易的方式减持公司股份不超过 5,517,867 股（约占公司总股本比例 2%）。若减持期间，公司有送股、资本公积金转增股本或回购注销等股份变动事项， 减持股份数量将相应调整。 江门市 ...

Core Viewpoint - On November 17, a total of 17 listed companies will have their restricted shares unlocked, with a total market value of approximately 22.745 billion yuan [1] Summary by Category Restricted Shares Unlocking - The total number of restricted shares unlocking on this date is significant, with a total market value of about 22.745 billion yuan [1] - Specific companies and their respective unlocking details include: - Yingte Group (000411): 273,600 shares from equity incentive [1] - East China Pharmaceutical (000963): 1,630,300 shares from equity incentive [1] - Innovation New Materials (600361): 2.867 billion shares from other types [1] - Fida Environmental Protection (600526): 152 million shares with extended lock-up period [1] - New Mileage (002219): 8.7 million shares from equity incentive [1] - Anke Bio (300009): 12.3941 million shares from equity incentive [1] - Songcheng Performance (300144): 2.16 million shares from equity incentive [1] - Keheng Co., Ltd. (300340): 511,400 shares from equity incentive [1] - Haoxiangni (002582): 1 million shares from equity incentive [1] - Zhongzhi Technology (301361): 2.252 million shares from pre-issue [1] - Jack Co., Ltd. (603337): 2.4576 million shares from equity incentive [1] - Tian'ao Electronics (002935): 105,400 shares from equity incentive [1] - Huatuo Cable (605196): 556,000 shares from equity incentive [1] - Yongshuntai (001338): 266 million shares from pre-issue [1] - New World (301277): 149 million shares from pre-issue [1] - Yongxi Electronics (688362): 130 million shares [1] - Kangxi Communication (688653): 3.184 million shares [1]

Group 1 - The rare earth permanent magnet index increased by 2.01% during the trading session, indicating a positive trend in the sector [1] - Most component stocks showed strength, with Shengxin Lithium Energy hitting the daily limit, suggesting strong investor interest [1] - Other notable gainers included China Steel Tianyuan, Shenghe Resources, Xiamen Tungsten, and Keheng Co., which experienced significant price increases [1]

兴业证券股份有限公司 关于江门市科恒实业股份有限公司 关联方拟以其对公司全资子公司债权转股权方式增资 暨关联交易事项的核查意见 兴业证券股份有限公司（以下简称"兴业证券"或"持续督导机构"）作为江门 市科恒实业股份有限公司（以下简称"科恒股份"或"公司"）的持续督导机构，根 据《证券发行上市保荐业务管理办法》《深圳证券交易所创业板股票上市规则》 《深圳证券交易所上市公司自律监管指引第 2 号——创业板上市公司规范运作》 《深圳证券交易所上市公司自律监管指引第 13 号——保荐业务》等相关法律、 法规和规范性文件的规定，对公司关联方拟以其对公司全资子公司债权转股权方 式增资暨关联交易事项进行了核查，具体情况如下： 一、本次关联交易概述 为优化公司全资子公司深圳市浩能科技有限公司（以下简称"深圳浩能"） 的资本结构，公司关联方珠海格力供应链管理有限公司（以下简称"格力供应链"） 拟以其享有的对深圳浩能 20,000 万元债权向深圳浩能增资，认购深圳浩能 19,893.07 万元新增注册资本（以下简称"本次增资"）。根据《企业国有资产交 易监督管理办法》第四十六条第（二）项规定，本次增资采用非公开协议方式进 行。本 ...

Core Viewpoint - The announcement from Keheng Co., Ltd. regarding the capital increase by its affiliate, Zhuhai Gree Supply Chain Management Co., Ltd., highlights the ongoing financial struggles of its subsidiary, Shenzhen Haoneng Technology Co., Ltd., which is heavily reliant on the troubled client, Zhuhai Yinlong New Energy Co., Ltd. [2][4][10] Group 1: Company Financials and Performance - Keheng Co., Ltd. has faced continuous losses since acquiring Haoneng Technology in 2016, with significant financial strain exacerbated by the downturn of its core client, Zhuhai Yinlong [6][7] - Haoneng Technology reported losses of 2.44 billion, 510 million, 1.33 billion, 2.50 billion, and 980 million from 2020 to 2024, with an additional loss of 810 million in the first half of this year [7] - Keheng Co., Ltd. is at risk of delisting due to negative net assets, with a debt ratio reaching 103% by the end of Q3 2025, indicating severe financial distress [12][15] Group 2: Strategic Moves and Investments - Gree Supply Chain plans to convert a 200 million debt into equity in Haoneng Technology, acquiring a 33.21% stake, as part of efforts to alleviate financial burdens on Keheng Co., Ltd. [2][4] - Gree Electric's acquisition of a stake in Zhuhai Yinlong for 1.828 billion in 2021 has not improved the financial situation of either company, with ongoing losses reported [10][11] - The Gree Group's strategy to inject capital into Keheng Co., Ltd. through various funding rounds has yet to yield positive operational results, raising questions about the effectiveness of these interventions [11][12]

Group 1 - Semiconductor Manufacturing International Corporation (SMIC) plans to acquire 47% equity in SMIC North, with due diligence and evaluation processes still ongoing [1][2] - Zhuhai Gree Supply Chain intends to convert a debt of 200 million yuan into equity to increase capital for Shenzhen Haoneng Technology, changing its status from a wholly-owned subsidiary to a controlling subsidiary [3] - China Huadian Corporation is set to invest 12.043 billion yuan in a combined heat and power generation project integrated with renewable energy in Heilongjiang [4] Group 2 - Yong'an Pharmaceutical announces that some directors and senior management plan to reduce their holdings by up to 0.0799% of the total shares [5] - Lihua Co. reports a 11.44% year-on-year increase in chicken sales revenue for October, totaling 1.461 billion yuan [6] - Degu Technology intends to terminate the acquisition of 100% equity in Haowei Technology due to difficulties in meeting the demands of all parties involved [7] Group 3 - Guocheng Mining plans to pay 3.168 billion yuan in cash to acquire 60% equity in Guocheng Industrial [8] - Yingtang Intelligent Control intends to acquire 100% equity in Guanglong Integration and 80% equity in Aojian Microelectronics, with stock resuming trading on November 10 [9] - Shanshan Holdings announces that its actual controller and major shareholder have divorced, resulting in a change in control [10] Group 4 - Nutaige plans to invest 100 million yuan to establish a wholly-owned subsidiary focused on robotics and related components [11] - Chengxing Co. reports that its Jiangyin factory is currently under temporary shutdown for rectification due to a raw material leak [12] - Xindong Holdings announces that its shareholder Hainan Zhuhua plans to reduce its stake by up to 3% [13] Group 5 - Yonghui Supermarket's vice president has completed a share reduction of 0.0012% [14] - Xi'an Tourism plans to issue A-shares to raise no more than 300 million yuan for working capital and bank loan repayment [15] - Xiaogoods City has successfully acquired land use rights for a commercial site in Yiwu for 3.223 billion yuan [16][17] Group 6 - Tongda Chuangzhi announces a cash dividend of 6 yuan per 10 shares for the 2025 interim period [18] - Shen Nan Electric A received a government subsidy of 8.0518 million yuan, accounting for 36.75% of its last fiscal year's net profit [19] - Founder Technology's subsidiary plans to invest 1.364 billion yuan in an AI expansion project in Chongqing [20] Group 7 - Hezhong China reports significant stock trading fluctuations, indicating a "hot potato" effect [21] - Hengrui Medicine's subsidiary has received approval for clinical trials of SHR-4610 injection for late-stage solid tumors [22] - Sihua Holdings announces the termination of a restructuring investment agreement and continues to seek potential investors [23] Group 8 - Yingwei Technology's subsidiary has won a 27.78% share of a project from China Mobile [24] - Dabeinong reports a 45.20% year-on-year increase in pig sales for October, totaling 5.79 billion yuan [25] - Meihua Biotech's major shareholder has been sentenced for market manipulation, but it does not affect the company's operations [26] Group 9 - Zhongyi Da plans to terminate the issuance of A-shares to specific investors [27] - Zhongji Oil and Gas has received a notice of investigation from the China Securities Regulatory Commission regarding trading violations [28] - China International Trade Corporation announces the resignation of its chairman due to work reasons [29] Group 10 - GAC Group reports a decline in October vehicle sales by 8.10% [30] - Dameng Data has invested 100 million yuan to establish an investment fund focused on the database industry [31] - Zhengbang Technology reports a 78.08% year-on-year increase in pig sales revenue for the first ten months [32] Group 11 - Shanghai Xiba has announced that its directors are under investigation for suspected short-term trading [33] - Changgao Electric New has won a bid for a project from the State Grid worth 246 million yuan [34] - Jianghuai Automobile reports a 5.49% increase in October sales [35] Group 12 - Xintian Green Energy reports a 20.97% year-on-year decrease in power generation for October [36] - Luokang Pharmaceutical's products have been selected in the national centralized procurement [37] - Zhongyuan Home intends to invest 16 million USD in a self-built production base in Vietnam [38] Group 13 - Changcheng Technology has terminated plans for a control change and will resume trading on November 10 [39] - Poly Development reports a significant decrease in signed sales area and amount for October [40] - Wanhua Chemical's MDI phase II facility will undergo maintenance starting November 15 [41]

Group 1 - The core point of the article is that Keheng Co., Ltd. held its 16th meeting of the 6th board of directors on November 7, 2025, to review proposals regarding the formulation and revision of certain company systems [1] - For the first half of 2025, the revenue composition of Keheng Co., Ltd. was 75.15% from industrial operations and 24.85% from equipment [1] Group 2 - As of the report, the market capitalization of Keheng Co., Ltd. is 4.1 billion yuan [2]