Group 1 - Yonghe Intelligent Control plans to publicly transfer 100% equity and a debt of 114 million yuan of its subsidiary Chengdu Shanshuishang Hotel, with a minimum listing price of 185 million yuan [1] - Grinda intends to invest 79.9999 million yuan to subscribe for 764,400 shares of Muxi Integrated Circuit (Shanghai) Co., accounting for 0.19% of the total share capital after issuance [1] - Tianshan Aluminum's actual controllers plan to reduce their holdings by no more than 1% of the company's shares starting from December 25, 2025 [1][2] Group 2 - Guang'an Aizhong plans to publicly issue bonds not exceeding 1 billion yuan to repay debts and supplement working capital [3] - Tengda Technology's shareholder plans to reduce holdings by no more than 0.8% of the company's shares starting from December 26, 2025 [4] - Tianwo Technology intends to invest in a 300,000-kilowatt "solar thermal + wind power integration" project with a total investment not exceeding 1.918 billion yuan [5][6] Group 3 - Yunnan Energy Investment announces that three wind power expansion projects have achieved full capacity grid connection, adding 596,250 kilowatts of wind power capacity [7] - Jinggong Technology wins a bid for a carbon fiber production base project worth 729 million yuan, accounting for 42.16% of its audited revenue for 2024 [8] - CITIC Bank's risk director's qualification has been approved by the regulatory authority [9][10] Group 4 - Electric Media plans to establish a joint venture with Mango Super Media and Zhangjiajie Tourism Group with a registered capital of 180 million yuan [11] - New Lai Ying Material's subsidiary plans to invest 157 million yuan to acquire a 51% stake in Anpu Intelligent Technology [13] - Kuaiji Elevator has been notified of the cancellation of its high-tech enterprise qualification for 2021-2023, which may impact its operating performance [15] Group 5 - Huakai Yibai's shareholders plan to reduce their holdings by no more than 2.94% of the company's shares [16] - Del Shares' shareholder plans to reduce holdings by no more than 2.98% of the company's shares [17] - Rifa Precision plans to sell idle assets for 155 million yuan to an affiliated party [19] Group 6 - Wanlong Optoelectronics is planning a major asset restructuring and has suspended trading of its shares [20] - Bangjie Co.'s shareholder plans to reduce holdings by no more than 400,000 shares [22] - Nanhua Instrument's actual controller and related parties plan to reduce holdings by no more than 1.62% of the company's shares [24] Group 7 - Unisplendour has re-submitted its H-share listing application to the Hong Kong Stock Exchange [25] - Zhongshi Technology plans to acquire 51% of Zhongshi Xun Cold for 35.7 million yuan [26] - Pulutong is planning a major asset restructuring and has suspended trading of its shares [26]

Capital Market Highlights - "China's Nvidia," Moore Threads, will be listed on the STAR Market on December 5, with Muxi Co.'s IPO subscription starting the same day at a price of 104.66 yuan, aiming to raise 3.899 billion yuan [2] - JPMorgan upgraded its rating on Chinese stocks from "neutral" to "overweight," stating that the risk of a significant rise in the Chinese stock market by 2026 is much higher than the risk of a significant decline, with a projected 19% upside for the MSCI China Index under base case scenarios [2] - The China Securities Regulatory Commission disclosed that companies like Shichuangyi, Shurui Robotics, and Niushidate have initiated A-share IPO counseling, all categorized as hard technology enterprises [2] Key Industry Sectors - In embodied intelligence, Tesla released a video of its Optimus humanoid robot running, achieving a personal best; Yushu published a new video verifying the reliability of its machine, with H2 performing a combat test against G2 [4] - In commercial aerospace, the Zhuque-3 reusable launch vehicle was launched into orbit, but the recovery test failed [4] - In the chip sector, Amazon's cloud division plans to launch its latest AI chip, Trainium3, claiming it provides computational power for AI models at a lower cost and higher efficiency compared to Nvidia's GPUs [4] Company Updates - The price of Feitian Moutai has dropped to 1,399 yuan, falling below the official guidance price [5] - JPMorgan increased its stake in Vanke's H-shares from 4.72% on November 27 to 5.23%, while Blackstone's holding rose from 4.83% to 5.45% [5] - Guizhou Bailing's actual controller is under investigation for insider trading, information disclosure violations, and transferring stocks in violation of restrictions [5] - Lens Technology is collaborating with several leading domestic and international clients to develop various AI edge hardware devices, including glasses, watches, wristbands, rings, and desktop models [5] - Microchip Technology, a wholly-owned subsidiary of Saiwei Electronics, plans to participate in establishing Chuxin Micro Technology [5] - Zhongshi Technology intends to acquire a 51% stake in Zhongshi Xun Cold to enhance its liquid cooling business ecosystem [5]

Group 1 - China's self-developed reusable launch vehicle Zhuque-3 successfully completed its maiden flight, marking a new milestone in the country's commercial space industry, with predictions that the industry could reach a scale of 7-10 trillion yuan by 2030 [2] - The U.S. ADP employment report for November showed a decrease of 32,000 private sector jobs, the largest drop in two and a half years, leading to increased expectations for a Federal Reserve rate cut [2] Group 2 - The Chinese government is promoting new urbanization as a key driver for expanding domestic demand and upgrading industries, emphasizing the need for urban renewal and addressing the urban-rural dual structure [3] - The Chinese Ministry of Commerce reported that the trade-in program for consumer goods has generated over 2.5 trillion yuan in sales, benefiting over 360 million people [3] Group 3 - The A-share market experienced a decline, with the Shanghai Composite Index down 0.51% and the Shenzhen Component down 0.78%, while the coal sector saw gains [5] - The Hong Kong Hang Seng Index fell 1.28%, with significant net buying from southbound funds, particularly in Alibaba [5] Group 4 - New active equity funds have shown signs of building positions, with over 80% of newly established funds experiencing net value fluctuations, while the consensus is to focus on AI applications for future allocations [6] - Morgan Stanley upgraded its rating on the Chinese stock market to "overweight," citing a higher risk of significant gains compared to losses [6] Group 5 - The Chinese government has initiated a parenting subsidy program for families with children under three years old, with over 30 million applications submitted and approved [4] - Cambodia will implement a visa-free policy for Chinese citizens from June to October 2026, allowing for multiple entries [4] Group 6 - The cultural and tourism sector in China is set to integrate with the civil aviation industry through a new action plan aimed at enhancing domestic travel accessibility and developing low-altitude tourism [9] - The Chinese passenger car market saw retail sales of 2.263 million units in November, a year-on-year decline of 7%, while the new energy vehicle market grew by 7% [9] Group 7 - The China Internet Finance Association is enhancing self-regulation for financial applications and mini-programs, aiming to mitigate risks associated with digital financial channels [10] - Binance appointed co-founder He Yi as co-CEO to expand its global business and strengthen compliance efforts [10] Group 8 - The U.S. stock market saw slight gains, with the Dow Jones up 0.86%, while the tech sector faced declines, particularly in Chinese concept stocks [15] - European stock indices showed mixed results, with the French market benefiting from consumer sector resilience [15] Group 9 - The domestic bond market experienced narrow fluctuations, with most interest rates rising, while the central bank conducted a reverse repurchase operation [17] - The U.S. Treasury yields collectively fell, indicating a shift in investor sentiment [17] Group 10 - International precious metals futures generally rose, supported by expectations of a Federal Reserve rate cut and positive economic data from Europe [18] - Crude oil prices increased amid ongoing geopolitical tensions, particularly related to the Russia-Ukraine conflict [18]

Group 1 - Company plans to use self-owned funds of 35.7 million yuan to acquire 51% equity of Zhongshi Xunleng, making it a controlling subsidiary [1] - Zhongshi Xunleng specializes in the design, manufacturing, and service of thermal module products, particularly focusing on liquid cooling solutions, which account for over 90% of its sales [1] - The acquisition aims to enhance the company's core competitiveness by integrating Zhongshi Xunleng's capabilities with its existing thermal products [2] Group 2 - The acquisition will allow the company to quickly enhance its design, manufacturing, and testing capabilities in liquid cooling products, complementing its existing thermal solutions [2] - Zhongshi Xunleng's location in South China provides rich industrial resources, facilitating rapid response to customer needs and upstream-downstream collaboration [2] - The company reported a revenue of 1.298 billion yuan for the first three quarters of 2025, a year-on-year increase of 18.45%, with net profit rising by 90.59% due to the growing demand for AI server liquid cooling modules [2] Group 3 - The liquid cooling technology is experiencing rapid growth, driven by the increasing power consumption of AI servers and high-density data centers, with market penetration expected to exceed 40% in China by 2025 [3] - The company has prior experience in similar acquisitions, having acquired 51% of Jiangsu Kaiweidi in 2019 to enhance its thermal component layout [3] - Following the acquisition of Kaiweidi, the company established a production line for superconducting heat pipes in Yixing, with a total investment of 300 million yuan, aiming for an annual output exceeding 500 million yuan [3]

Core Viewpoint - The acquisition of a 51% stake in Zhongshi Xunleng by Zhongshi Technology for 35.7 million yuan enhances the company's position in the liquid cooling solutions sector, allowing for a more comprehensive industry layout and improved liquid cooling business ecosystem [1] Company Summary - Zhongshi Technology's wholly-owned subsidiary, Yixing Zhongshi, is set to acquire a 51% stake in Zhongshi Xunleng for 35.7 million yuan [1] - Following the acquisition, Zhongshi Xunleng will become a controlling subsidiary of Zhongshi Technology [1] - Zhongshi Xunleng specializes in liquid cooling solutions, covering research and development, manufacturing, testing, sales, and technical services [1] Industry Summary - The acquisition aims to deepen the company's industry layout in the cooling module sector [1] - The product offerings of Zhongshi Xunleng include water cooling radiators, friction welding water cooling plates, copper tube water cooling plates, temperature equalization plates, and CPU/GPU coolers [1] - This strategic move is expected to enhance the liquid cooling business ecosystem of the company [1]

中石科技（300684）(300684.SZ)发布公告，公司全资子公司北京中石伟业科技宜兴有限公司(简称"宜兴 中石")拟使用自有资金3570万元增资收购中石讯冷散热科技(东莞)有限公司(简称"中石讯冷")51%的股 权。本次收购完成后，宜兴中石持有中石讯冷51%的股权，中石讯冷将成为公司的控股孙公司，纳入公 司合并报表范围。本次收购有助于公司进一步深化在散热模组领域的行业布局，完善液冷业务生态，同 时可将中石讯冷团队的液冷专业能力延展到公司既有大客户渠道，实现客户资源的有效协同和优化整 合。 ...

Core Viewpoint - The company, Zhongshi Technology, announced a plan to acquire a 51% stake in Zhongshi Xunleng for 35.7 million yuan, which will make Zhongshi Xunleng a subsidiary and included in the company's consolidated financial statements [1] Group 1: Acquisition Details - Zhongshi Technology's wholly-owned subsidiary, Yixing Zhongshi, will use its own funds of 35.7 million yuan to increase its stake in Zhongshi Xunleng [1] - Upon completion of the acquisition, Yixing Zhongshi will hold 51% of Zhongshi Xunleng, making it a controlling subsidiary [1] Group 2: Company Profile - Zhongshi Xunleng was established by a team with over 15 years of experience in the cooling industry [1] - The company specializes in liquid cooling solutions, covering research and development, manufacturing, testing, validation, sales, and technical services [1] - Its product offerings include water cooling radiators, friction welding water cooling plates, copper tube water cooling plates, uniform temperature plates, and CPU/GPU coolers [1]

证券代码：300684 证券简称：中石科技 公告编号：2025-075 北京中石伟业科技股份有限公司 关于对外投资收购股权的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 特别提示： 1、北京中石伟业科技股份有限公司（以下简称"公司"）全资子公司北京 中石伟业科技宜兴有限公司（以下简称"宜兴中石"）拟使用自有资金 3,570.00 万元增资收购中石讯冷散热科技（东莞）有限公司（以下简称"中石讯冷"）51% 的股权。本次收购完成后，宜兴中石持有中石讯冷 51%的股权，中石讯冷将成为 公司的控股孙公司，纳入公司合并报表范围。本次收购有助于公司进一步深化在 散热模组领域的行业布局，完善液冷业务生态，同时可将中石讯冷团队的液冷专 业能力延展到公司既有大客户渠道，实现客户资源的有效协同和优化整合。 2、本次交易已经公司总经理办公会审议通过，无需提交公司董事会及股东 会审议。 3、本次交易不构成关联交易，亦不构成《上市公司重大资产重组管理办法》 规定的重大资产重组。 4、风险提示：本次交易存在业绩承诺未能实现风险、标的资产评估风险、 商誉减值风险、外部环境变化风险、 ...

证券日报网讯12月2日，中石科技（300684）在互动平台回答投资者提问时表示，公司坚持大客户市场 战略，基本实现3C行业头部客户全覆盖，长期服务于北美大客户、三星、微软、谷歌、亚马逊、H客 户、荣耀、大疆、菲尼萨等客户。 ...

格隆汇12月2日丨中石科技(300684.SZ)在互动平台表示，公司产品暂未应用于商业航天领域。 ...