Core Viewpoint - Hongming Co., Ltd. is planning its first acquisition since going public, aiming to purchase 83% of Shenzhen Chisu Automation Equipment Co., Ltd. for approximately 151 million yuan, which is expected to constitute a major asset restructuring [1][3]. Financial Performance - As of the end of Q1 2025, Hongming's cash reserves stood at 291 million yuan, significantly exceeding the acquisition cost [2][3]. - The company's debt-to-asset ratio was reported at 10.09% as of Q1 2025, indicating a strong financial position [2][5]. - In 2022, Hongming reported a revenue of 230 million yuan, a year-on-year decline of 28.86%, and a net profit of 39.51 million yuan, down 41.03% [5]. - The company experienced its first loss in 2023, with revenue dropping 24.03% to 175 million yuan and a net loss of 16.77 million yuan [5]. - In 2024, revenue rebounded to 201 million yuan, a 15.17% increase, while the net loss narrowed to 9.77 million yuan, a 41.75% improvement [5]. Market Position and Strategy - Hongming focuses on both domestic and international markets, enhancing brand promotion and customer service to solidify its position in the domestic packaging equipment market [6]. - The company has actively participated in international packaging industry exhibitions to expand its overseas sales channels, achieving a 34.49% growth in overseas market business [6][7]. - Despite fluctuations in performance, the company's financial health has improved, with a debt-to-asset ratio decreasing from 14.27% at the end of 2022 to 10.09% by Q1 2025 [7].

Core Viewpoint - Hongming Co., Ltd. announced a significant asset restructuring plan to acquire 83% of Shenzhen Chisu Automation Equipment Co., Ltd. for a cash consideration of 151 million yuan, marking its first major capital operation since going public [2][4]. Group 1: Acquisition Details - The acquisition aims to enhance revenue scale, improve net profit levels, and boost stock prices for Hongming Co., Ltd. [2][4]. - Shenzhen Chisu specializes in the research and production of automation equipment, particularly automatic screw locking machines, with applications in various industries including home appliances, IT communications, and automotive [4][5]. - The transaction is expected to constitute a major asset restructuring but will not trigger mandatory trading suspension due to its cash acquisition format and sufficient information disclosure [4]. Group 2: Company Performance - Hongming Co., Ltd. has experienced significant performance fluctuations since its IPO in December 2022, with revenues of 230 million, 175 million, and 201 million yuan from 2022 to 2024, and net profits of 39.51 million, -16.77 million, and -9.97 million yuan during the same period [8][9]. - The company has faced delays in its fundraising projects, with completion dates pushed back from August 2024 to August 2025, and varying completion rates for its three major projects [8]. - The company reported a revenue of 46.81 million yuan in the first quarter of 2024, a year-on-year decrease of 0.36%, and a net profit of 4.03 million yuan, down 7.18% year-on-year, indicating ongoing financial challenges [9].

创业板指今日下跌0.96%，报收2045.57点，创业板全日成交额2940.63亿元，比上个交易日减少219.56亿 元。今日可交易创业板股中，203只股收盘上涨，涨幅超过10%的有8只，其中，昆仑万维、国科天成、 鸿铭股份等5股涨停，涨幅在5%至10%之间的有26只，收盘下跌的有1158只，跌幅超10%的有6只。 证券时报·数据宝统计显示，换手率方面，创业板今日平均换手率为3.28%，换手率区间分布显示，换手 率超过20%的有49只，换手率10%~20%之间的有102只，换手率5%~10%的有231只，换手率1%~5%的有 892只，换手率不足1%的有107只。 5月22日创业板换手率居前个股 | 代码 | 简称 | 最新收盘价 | 日涨跌幅（%） | 日换手率（%） | 资金净流入（万元） | | --- | --- | --- | --- | --- | --- | | 301112 | 信邦智能 | 37.32 | -17.76 | 59.90 | -10851.56 | | 301595 | C太力 | 44.36 | 1.77 | 51.81 | -1162.32 | | 301335 | 天元宠 ...

Group 1 - Qingmu Technology plans to reduce its shareholding by up to 3%, amounting to no more than 2.776 million shares [1] - Newcap received a decision from the police to revoke the case against its actual controller, who was previously detained for insider trading [2] - Rhine Biotech's directors and executives plan to collectively reduce their holdings by up to 0.14%, totaling no more than 1.0185 million shares [3] Group 2 - Puli Tui's stock and convertible bonds will be delisted on May 22, 2025 [5] - *ST Nong Shang will have its delisting risk warning lifted and will resume trading on May 23, 2025 [7] - State Grid Information Communication plans to acquire 100% equity of Yili Technology for approximately 1.853 billion yuan [9] Group 3 - Kelun Pharmaceutical's subsidiary received drug registration approval for a new injectable product, which is the first of its kind in China [10] - Aishida plans to acquire 7% equity of its subsidiary Zhejiang Qianjiang Robot Co., Ltd. for 13.09 million yuan [11] - Hongming Co. is planning to acquire 83% equity of Shenzhen Chisu Automation Equipment Co., Ltd. for approximately 151 million yuan [12] Group 4 - JuJiao Co. plans to reduce its shareholding by up to 2.6%, totaling no more than 2.093 million shares [14] - AVIC Financial's stock will be delisted on May 27, 2025 [16] - Jingwang Electronics' major shareholders plan to reduce their holdings by up to 2.99% [17] Group 5 - Huaren Health intends to acquire stakes in three pharmaceutical chain companies for a total of 327 million yuan [18] - Huanrui Century's original shareholders are required to compensate for unfulfilled performance commitments with 116 million shares [20] - Tefa Service's shareholders plan to reduce their holdings by up to 3% [21] Group 6 - Maipu Medical is planning to acquire at least 51% of Easy Medical's equity, which will constitute a major asset restructuring [22] - *ST Jinshi will have its delisting risk warning lifted and its stock will resume trading on May 23, 2025 [22] - Guoke Micro is planning a major asset restructuring and will suspend trading [23] Group 7 - Defu Technology intends to acquire 100% equity of an overseas electronic circuit copper foil company [24] - Xince Standard's shareholder plans to reduce its holdings by up to 1% [25] - Xiouqiang Co. plans to reduce its holdings by up to 3% [27]

本次交易的交易对方为深圳驰速的部分股东，已与公司签署《意向协议》的股东为刘贤海。 中国经济网北京5月22日讯鸿铭股份（301105）(301105.SZ)昨日晚间披露《关于筹划重大资产重组暨签 署《意向协议》的提示性公告》。鸿铭股份正在筹划以现金方式购买深圳市驰速自动化设备有限公司 (以下简称"深圳驰速")83%股权，本次交易金额预计为15,100.00万元。 截至发稿，鸿铭股份盘中涨停，报39.72元，涨幅20.00%。 公告称，近日，公司与深圳驰速及其主要股东签署了《意向协议》，拟以现金方式收购深圳驰速83%的 股权。本次交易完成后，深圳驰速将成为公司的控股子公司，纳入公司合并报表范围。本次签署的《意 向协议》仅为意向性协议。 根据初步研究和测算，本次交易预计构成《上市公司重大资产重组管理办法》规定的重大资产重组。本 次交易不涉及上市公司发行股份，不构成关联交易，也不会导致上市公司控股股东和实际控制人发生变 更。 鸿铭股份首次公开发行股票募集资金总额为50,625.00万元，扣除与发行有关的费用后，实际募集资金净 额为人民币42,754.15万元。鸿铭股份最终募集资金净额比原计划多14,414.91万元。 ...

Industry Overview - The demand for offset printing machines in China is continuously growing due to the development of the printing industry, with domestic printing companies upgrading their equipment for improved efficiency and quality [1][11] - The market size of China's offset printing machine industry reached 21.56 billion yuan in 2019 and is projected to grow to 24.42 billion yuan by 2024, with a compound annual growth rate (CAGR) of 2.53% [1][11] Industry Chain - The upstream of the offset printing machine industry includes raw material suppliers and component manufacturers, while the midstream involves the manufacturing of offset printing machines, and the downstream encompasses various application fields such as book publishing, newspaper printing, and packaging [5] Key Materials - Ink is a critical material for offset printing machines, directly affecting the color performance and clarity of printed products. The production of ink in China has been increasing, but is expected to see a slight decline of 3.7% in 2024 due to the rise of digital publishing and online advertising [7] Market Trends - The packaging industry in China has been rapidly developing, with the market size expected to reach approximately 1.2 trillion yuan in 2024, reflecting a year-on-year increase of 4% [9] - The offset printing machine industry is expected to face stricter environmental regulations, leading to a shift towards green and sustainable practices, including the use of eco-friendly materials and technologies [18] - The industry is also moving towards greater digitalization and automation, utilizing technologies such as big data and IoT for improved efficiency and reliability [19] - There is a growing demand for diverse and personalized products, necessitating the adaptation of offset printing machines to meet small batch and quick delivery requirements [21] Competitive Landscape - The offset printing machine industry in China has developed a competitive landscape with strong players located in regions such as Beijing, Shanghai, Guangdong, and Zhejiang. Companies like Weigang Technology and Wan Jie Technology are notable competitors [13][14] - The competition is intensifying as companies strive to enhance their technological capabilities and market presence [22] Related Companies - Key listed companies in the offset printing machine sector include Weigang Technology (001256), Wan Jie Technology (871827), and Qiangbang New Materials (001279) among others [1]

Market Overview - The U.S. stock market experienced a significant decline, with all three major indices posting their largest drop in a month. The Dow Jones fell by 1.91%, the Nasdaq decreased by 1.41%, and the S&P 500 dropped by 1.61% [3] - Major technology stocks also saw declines, with Tesla and Apple each dropping over 2%, while Microsoft, Amazon, and Nvidia fell more than 1%. In contrast, Google saw an increase of nearly 3% [3] Economic Indicators - The yield on the 30-year Treasury bond rose to 5.09%, while the yield on the benchmark 10-year Treasury increased by 11.5 basis points to 4.59%. The 2-year Treasury yield also rose by 4.7 basis points to 4.01%, indicating a close relationship with interest rate expectations [3] Policy Measures - A joint announcement from several Chinese financial regulatory bodies outlined 23 measures to support financing for small and micro enterprises, focusing on increasing financing supply, reducing costs, and improving efficiency [4] - The Shanghai government released a special action plan to boost consumption, emphasizing the integration of advanced technologies like AI and big data into consumer sectors [5] Corporate Actions - Guokai Micro announced plans to acquire assets through a combination of stock issuance and cash payment, focusing on semiconductor wafer foundry and customized chip manufacturing, which is expected to constitute a major asset restructuring [7] - Vanke A signed a borrowing agreement with Shenzhen Metro Group for up to 4.2 billion yuan, using up to 6 billion yuan worth of stock as collateral [8] - Myp Medical is planning to acquire at least 51% of Easy Medical, which is expected to constitute a major asset restructuring [10] - Hongming Co. is planning to purchase 83% of Shenzhen Chisu Automation Equipment for an estimated 151 million yuan, which will also constitute a major asset restructuring [12]

Key Points - Vanke A has signed a supplementary agreement with Shenzhen Metro Group for a loan of up to 4.2 billion yuan, with a pledge of up to 6 billion yuan in shares of its subsidiary, Wanwu Cloud [3] - Heng Rui Pharmaceutical has set the final price for its H-share issuance at 44.05 HKD per share, with plans to list on the Hong Kong Stock Exchange on May 23, 2025 [4] - Wan Dong Medical has elected Ma Chibing as the new chairman after Hu Ziqiang resigned from the position [5] - Tianqi Mould has confirmed that there are no undisclosed significant matters amid ongoing major asset restructuring [6] - Zhejiang Rongtai plans to invest 20 million yuan to establish a wholly-owned subsidiary focused on intelligent robotics [7] - ST Mingcheng intends to publicly transfer 45% of its subsidiary, Time Media, which will no longer be included in the consolidated financial statements [8] - Shanghai Xiba plans to purchase patent assets for 2 million yuan and 500,000 yuan, and establish subsidiaries to promote the commercialization of new technologies [9] - Jushen Co. has received a total of 95.7 million yuan in dividends from its six wholly-owned subsidiaries [10] - ST Asia Pacific has confirmed no undisclosed significant matters or ongoing major plans [11] - Tianrong Tianyu's controlling shareholder's agreement will not be renewed after its expiration [12] - Wangzi New Materials has stated that its energy storage capacitor business is minimal and will not significantly impact its performance [13] - Nanjing Port has clarified that its foreign trade container business does not have direct routes to the U.S. [14] - Jinlongyu has indicated that its solid-state battery business has not yet formed stable long-term revenue [15] - Tianzhihang's subsidiary plans to raise capital by introducing investors [16] - State Grid Information plans to acquire 100% of Yili Technology for 1.853 billion yuan, enhancing its revenue and profit [17] - ST Nongsang will remove its delisting risk warning starting May 23 [18] - Yipin Hong has stated that its innovative drug AR882 has not yet been launched and will not significantly impact recent performance [19] - Huanrui Century has announced a performance compensation plan requiring original shareholders to compensate 116 million shares [20] - Huaren Health plans to acquire stakes in three pharmaceutical chain companies for a total of 3.282 billion yuan [21][22] - Hongming Co. is planning to acquire 83% of Shenzhen Chisu for 1.51 billion yuan [23] - Aishida intends to acquire an additional 7% stake in its subsidiary Qianjiang Robot for 13.09 million yuan [24] - Dasheng Intelligent has signed a contract worth 11.5 million yuan for a high-efficiency machine room project [25] - Jinggu Co. has received a notice to supply wheels for a major global automaker, with expected sales of approximately 158 million USD over ten years [26] - Pingzhi Information has signed a framework agreement with China Mobile for antenna products worth up to 13.01 million yuan [27] - Shanghai Laishi's controlling shareholder plans to increase its stake by 250 million to 500 million yuan [28] - Qixia Construction's shareholder plans to reduce its stake by up to 3% [29] - Sichuan Gold's major shareholders plan to reduce their stakes by up to 5.5% [30] - Qingyun Technology's shareholders plan to reduce their stakes by up to 4.5% [31] - Rhein Biological's directors plan to reduce their stakes by up to 0.14% [32] - Qingmu Technology's shareholder plans to reduce its stake by up to 3% [33] - Sanrenxing's employee shareholding platform plans to reduce its stake by up to 3% [34][35] - Juzhi Technology's director plans to reduce his stake by up to 40,000 shares [36] - Jingwang Electronics' major shareholders plan to reduce their stakes by up to 2.99% [37] - Jujiao Co. plans to reduce its stake by up to 2.6% [38] - Xiyu Tourism's major shareholder plans to reduce its stake by up to 3% [39]

鸿铭股份（301105）公告，公司正筹划以现金方式购买深圳驰速83%股权，交易对价预计为1.51亿元。 交易完成后，深圳驰速将成为鸿铭股份的控股子公司。本次交易预计构成重大资产重组，不涉及发行股 份，不构成关联交易，也不会导致公司控股股东和实际控制人发生变更。交易尚处于初步筹划阶段，交 易方案和条款需进一步论证和沟通协商，并需履行必要的内外部决策、审批程序。公司将尽快组织中介 机构开展尽职调查，并在完成资产审计和评估后签署正式协议。 ...

Core Viewpoint - Hongming Co., Ltd. (301105.SZ) is planning to acquire 83% equity of Shenzhen Chisu Automation Equipment Co., Ltd. for a cash consideration of 151 million yuan, which is expected to constitute a major asset restructuring [1] Group 1 - The transaction will result in Chisu becoming a subsidiary of Hongming [1] - The final transaction amount will be determined based on an asset appraisal report and the net profit of the target company [1]