一、预重整事项概况 2024年5月17日，深圳市名家汇科技股份有限公司（以下简称"公司""名 家汇"）收到债权人中山市古月灯饰制造有限公司（以下简称"申请人"）发来 的《告知函》，申请人以公司不能清偿到期债务且明显缺乏清偿能力，但具有重 整价值为由，于同日向深圳市中级人民法院（以下简称"深圳中院"）申请对公 司进行重整，并同时申请启动预重整程序。 关于被债权人申请重整及预重整的进展暨风险提示公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整， 没有虚假记载、误导性陈述或重大遗漏。 2024年5月24日，公司于全国企业破产重整案件信息网查询得知，深圳中院 已就公司相关事项设立案号〔2024〕粤03破申481号。2024年5月27日，公司收到 深圳中院下发的相关通知书。 2024年7月30日，公司收到深圳中院下发的〔2024〕粤03破申481号《决定书》， 法院于7月29日决定对公司启动预重整程序。经摇珠选定，深圳中院指定深圳市 正源清算事务有限公司为公司预重整管理人。 证券代码：300506 证券简称：ST 名家汇 公告编号：2025-058 深圳市名家汇科技股份有限公司 2024年11月25日以书 ...

New Stock Issuance - New stock issuance for Jiao Da Tie Fa at an issuance price of 8.81[1] - ST Li Fang and United Chemical have recent announcements dated May 14 and May 23 respectively[1] - Multiple companies including Zhongzhou Special Materials and San Sheng Guo Jian have announcements on May 23[1] Market Alerts - Significant abnormal fluctuations reported for Nanjing Port and Li Jun Co. on May 23[1] - ST Er Ya and ST Jin Hong have recent announcements regarding market conditions[1] - Companies like Hainan Development and ST Haihua have reported abnormal trading activities[1] Trading Updates - Trading updates for various companies including ST Ya Zhen and ST Jian Gang on May 27[1] - Multiple companies have links to their announcements for further details on trading activities[1] - The report includes a comprehensive list of companies with their respective announcement dates and links for investor reference[1]

Core Insights - The landscape lighting industry in China has shown a fluctuating growth trend, with market size expected to reach approximately 1439.86 billion yuan by 2024, following a recovery from the pandemic impact in 2020 when the market size was about 720.09 billion yuan [1][10] - The increasing urbanization and the rising demand for city image enhancement are driving the importance of landscape lighting as a key element in urban development [10] Industry Definition and Classification - Landscape lighting refers to outdoor lighting projects that serve both functional and aesthetic purposes, enhancing the visual appeal of various structures and environments at night [1] Industry Chain Analysis - The landscape lighting industry chain includes upstream raw materials and components supply, midstream production and engineering implementation, and downstream application fields such as public spaces and commercial buildings [3] Development History - The industry has evolved through several stages, from its inception in the 1980s focusing on basic lighting needs to a mature phase emphasizing quality, energy efficiency, and smart technology integration [5] Current Industry Status - The market size of the landscape lighting industry is projected to continue growing, driven by urbanization and the development of the night economy, which includes night markets and performances [10] Downstream Application Analysis - Municipal engineering accounts for the largest share of the market at 45%, followed by commercial real estate at 25% and cultural tourism at 20%, indicating diverse application areas for landscape lighting [12] Key Companies Analysis - Leading companies in the landscape lighting industry include: - **Liard**: A market leader with a broad business layout, focusing on smart control systems and significant project experience [14] - **Aoto Electronics**: Specializes in smart city and cultural tourism projects, leveraging display technology [14] - **Mingjia**: Focuses on cultural landscape lighting, integrating local cultural elements into designs [14] - **Zhouming Technology**: Strong in LED lighting product manufacturing and smart control system development [14] Future Development Trends - The industry is expected to see deeper integration of smart control systems, cultural elements, and personalized designs, alongside the gradual improvement of industry standards and regulations [20][21][23]

Core Viewpoint - Six ST stocks will be delisted from risk warnings and will resume trading on May 20, indicating improved financial conditions and compliance with regulatory requirements [2][4][8]. Group 1: Stocks Resuming Trading - ST Aonong will change its name to Aonong Biological and has received a standard unqualified audit report for its 2024 financials, showing a net asset of 2.566 billion and a net profit of 579 million [4]. - ST Mingjia will change its name to ST Mingjia Hui and continues to face other risk warnings due to negative net profit and low revenue, but has received approval to resume trading [5][6]. - ST Zhongtai, ST Shengda, and ST Muyou will also resume trading with name changes, having rectified previous compliance issues and received standard unqualified audit reports [8]. Group 2: Major Asset Restructuring Announcements - Xunbang Intelligent plans to acquire control of Wuxi Yindi Chip Microelectronics through a combination of share issuance and cash payments, focusing on the automotive chip sector [12]. - Huibo Yuntong intends to purchase 67.91% of Baode Computer Systems, aiming to enhance its competitive edge by integrating software and hardware solutions [13].

Summary of Key Points Core Insights - The report highlights the upcoming listings and trading activities of several companies on May 19, 2025, indicating a busy market day with multiple new entries [1][2][3]. Upcoming Listings - Company 001390 Guqi Fur Material will be available for online subscription on May 19, 2025 [1]. - Companies 301595 N Taili and 603014 N Weigao will officially list on the same day, with allocations for general institutional investors [1]. - Company 920060 Wanyuantong will also list on May 19, 2025, specifically for the public portion [1]. Suspension Announcements - Company 002092 ST Zhongtai and 002259 ST Shengda will be suspended for one day due to the announcement of the withdrawal of other risk warnings [2]. - The Invesco Great Wall S&P Consumer Select ETF (QDII) and Guotai S&P 500 ETF will also be suspended until 10:30 AM on May 19, 2025, to protect investor interests [2]. - Company 300506 *ST Mingjia will be suspended for one day following the announcement of the withdrawal of delisting risk warnings [2]. Special Suspensions - Company 000151 Zhongcheng Co. will be suspended due to plans for issuing shares to acquire assets and raise matching funds, effective from May 16, 2025 [3]. - Company 000584 *ST Gongzhi and 000622 *ST Hengli will also face suspensions due to potential delisting risks and failure to disclose periodic reports within the legal timeframe [3]. - Company 002336 *ST Renle will be suspended for one day due to the announcement of potential delisting risks [3].

Group 1 - The China Securities Regulatory Commission has recently issued a decision to amend the "Measures for the Administration of Major Asset Restructuring of Listed Companies," encouraging private equity funds to participate in mergers and acquisitions of listed companies. The investment period for private equity funds is linked to the lock-up period for shares obtained through restructuring, reducing the lock-up period from 12 months to 6 months for those who have held investments for 48 months [1] - The U.S. Department of Commerce has announced that using Huawei's Ascend chips is considered a violation of U.S. export control regulations, which has been met with strong opposition from China [3] - Nvidia's CEO has indicated that due to U.S. government restrictions on the export of the Hopper architecture H20 chip to China, the company is reassessing its market strategy in China and will not launch the Hopper series chips in the future [3] Group 2 - The 15th China Airshow showcased the "Jiutian" drone, which is expected to complete its first flight by the end of June. A notable feature of this drone is the integrated "heterogeneous hive mission cabin," capable of carrying over a hundred loitering munitions or small drones, earning it the nickname "aerial drone carrier" [2] - China's J-10CE fighter jet has achieved its first combat success by shooting down multiple enemy aircraft without sustaining any losses, drawing significant attention from global military enthusiasts [2] - The National Financial Supervision and Administration has approved China Life Asset Management to participate in the third batch of long-term investment reform pilot programs for insurance funds, with the Honghu Fund having successfully invested 50 billion yuan by early March 2025 [3] Group 3 - Ningde Times has announced an H-share offering price of 263.00 HKD per share, with H-shares expected to be listed on the Hong Kong Stock Exchange on May 20. The company also plans to invest up to 225 million USD in an industrial investment fund [4] - Wentai Technology has announced plans to sell assets worth 4.389 billion yuan to Luxshare Precision and Luxshare Communications, focusing on the development of its semiconductor business [4] - Guizhou Moutai has reported a total share repurchase of 2.6421 million shares, amounting to 4.05 billion yuan [4]

Group 1: Mergers and Acquisitions - The new regulations for major asset restructuring of listed companies have been officially launched, indicating the full implementation of the "six measures for mergers and acquisitions" [2] - The revised management measures support cross-industry mergers that align with business logic, establish a phased payment mechanism for restructuring shares, and encourage private equity funds to participate in mergers and acquisitions [2] - The introduction of a simplified review process for eligible listed companies significantly shortens the review timeline and improves disclosure requirements [2] Group 2: Currency and Trade - The Chinese yuan has shown signs of appreciation, with the central bank setting the mid-price below 7.2 for the first time since early April, following positive developments in Sino-US trade talks [4] - The dollar index experienced a significant drop of 10%, while Asian currencies appreciated by 5% to 10%, indicating a potential shift towards "de-dollarization" [4][5] - The U.S. Treasury Secretary indicated that countries not engaging in sincere negotiations will receive tariff notifications, with tariffs reverting to levels seen on April 2 [3] Group 3: Financial Markets - In April, foreign investors made a record net inflow of 8.21 trillion yen (approximately 406.6 billion RMB) into Japanese stocks and long-term bonds, marking the largest monthly net inflow since 1996 [6] - The rapid growth of bond ETFs has been noted, with the total market size surpassing 260 billion RMB, reflecting a shift towards more stable investment tools amid increased market volatility [10][11] Group 4: Corporate Developments - The CEO of Novo Nordisk has been dismissed, impacting the company's stock price, which fell by 2.69% following the announcement [17] - The company reported a total revenue of 78.087 billion Danish kroner (approximately 11.216 billion USD) for Q1 2025, an 18% year-on-year increase, with a significant portion of revenue coming from the blockbuster drug semaglutide [17] Group 5: Market Dynamics - The A-share market showed resilience with the Shanghai Composite Index rising by 0.76% and the ChiNext Index increasing by 1.38% during the week [13] - In the Hong Kong market, major indices experienced declines, with the Hang Seng Index dropping by 0.46% amid disappointing quarterly earnings from large tech and financial stocks [14]

Core Viewpoint - The company is undergoing financial difficulties, with significant losses and liquidity issues, but has taken steps to improve its situation, including asset disposals and seeking to revoke its delisting risk warning [11][19][34]. Financial Performance - In 2024, the company reported a revenue of 116.89 million yuan, with a net loss attributable to shareholders of 13.1 million yuan [13][22]. - The total assets of the company were 792.73 million yuan, with total liabilities leading to a high debt ratio of 87.79% [13][11]. - The company’s cash flow from operating activities was 5.95 million yuan, indicating a challenging cash flow situation [14]. Debt and Financing - The company has a significant amount of overdue debt, with approximately 2.21 billion yuan in interest-bearing liabilities, some of which are in litigation [11][13]. - The company has entered into a debt restructuring process and signed an investment agreement to alleviate financial pressure [15][12]. Asset Management - The company transferred accounts receivable valued at 16.7 million yuan to an affiliate for 60 million yuan, generating a gain of 4.33 million yuan [4][10]. - The company received a cash donation of 4 million yuan from its actual controller, which is not related to any repayment obligations [8][10]. Industry Context - The lighting engineering industry has faced a downturn since 2020 due to the global pandemic, but is expected to recover with a projected market size exceeding 900 billion yuan by 2026 [12][13]. - The company is adapting to industry changes by focusing on intelligent and systematic lighting solutions [12]. Regulatory Compliance - The company’s stock was previously under delisting risk due to negative net profit and revenue below 100 million yuan, but it has since applied to revoke this warning [19][34]. - The company has confirmed compliance with accounting standards and internal controls, as per the audit report [22][35].

Group 1: Stock Trading Anomalies - Chengfei Integration reported severe abnormal stock fluctuations, indicating a potential market sentiment overheating, with 96.91% of revenue from automotive parts and tooling, and only 1.74% from aerospace components [3] - Lijun Co. noted short-term market sentiment overheating in its stock, attributed to increased attention on military aircraft-related stocks due to geopolitical changes [4][5] - Yuzhong A stated that its stock has seen significant short-term gains, but there have been no major changes in its operational environment [8] Group 2: Risk Warnings and Suspensions - Zitian Technology received a delisting risk warning due to false financial reporting, with a deadline for rectification that was not met, leading to a potential delisting [6] - ST Mingjia announced the removal of its delisting risk warning but will continue to face other risk warnings, with a temporary suspension of trading [7] - ST Shengda's stock will be suspended for one day before resuming trading after the removal of other risk warnings [11] Group 3: Mergers and Acquisitions - Guangyang Co. is planning to acquire 100% of Ningbo Yinqiu Technology, leading to a suspension of its stock trading [9] - Electric Power Investment is also planning to acquire shares in Baiyin Hua Coal Power, with its stock set to resume trading [10] Group 4: Shareholder Reductions - Ruiling Co.'s controlling shareholder plans to reduce its stake by up to 3%, with specific figures provided for individual executives [13] - New Meixing's controlling shareholder intends to reduce its stake by up to 3% as well [14] - Yujian Intelligent's actual controllers plan to collectively reduce their stake by up to 2.99% [15] Group 5: Major Contracts - Qunxing Toys announced a 113 million yuan contract with Tencent for providing computing power services [23]

Group 1 - ST Shengda announced the removal of risk warnings and the change of its stock name from "ST Shengda" to "Shengda Forestry" effective May 20 [1] - ST Shengda's main business has shifted from home products to natural gas liquefaction and urban gas operations after significant restructuring [1][2] - The company has resolved issues related to the misuse of funds by its former controlling shareholder and has no current major shareholder or actual controller [2] Group 2 - ST Shengda is pursuing litigation related to the illegal guarantees provided by Shengda Group and aims to recover losses [3] - *ST Mingjia announced that it met the conditions for the removal of delisting risk warnings, with an audited revenue of 117 million and a net asset of 96.44 million for 2024 [3] - Despite the removal of delisting risk warnings, *ST Mingjia will continue to face other risk warnings due to negative net profits in the last three accounting years [3]