Group 1 - Tianyuan Pet announced the acquisition of 89.71% stake in Guangzhou Taotong Technology for approximately 688 million yuan, following a previous purchase of 10% stake for 77 million yuan [1][2] - This acquisition marks the second pet industry company acquired by Tianyuan Pet in the first half of the year, with the first being the B2B supply chain platform "Itpin" [2] - The acquisition aims to enhance the product variety of the listed company and inject a strong e-commerce sales capability, addressing the shortcomings in domestic online channels [2] Group 2 - Taotong Technology is a well-known domestic e-commerce service provider in the food sector, with partnerships including major brands like Mars, Mondelez, Pepsi, and Nestle [2] - Taotong Technology's sales revenue reached 2 billion yuan in 2024, with revenues of 1.609 billion yuan and 2.014 billion yuan for 2023 and 2024 respectively, and net profits of 62.52 million yuan and 69.06 million yuan [2] - The sellers have made performance commitments for Taotong Technology, ensuring net profits of no less than 70 million yuan, 75 million yuan, and 80 million yuan for the years 2025-2027, totaling 225 million yuan over three years [2] Group 3 - Tianyuan Pet's main products include pet home goods, apparel, toys, and living supplies, with a historical focus on overseas OEM, serving clients like Walmart and Amazon [3] - Since 2023, Tianyuan Pet has shifted its sales focus to the domestic market, increasing its domestic revenue share from 45% to 52%, although its e-commerce penetration remains below the industry average [3] - The company has faced challenges with revenue growth not translating into profit, with revenues of 1.887 billion yuan, 2.037 billion yuan, and 2.764 billion yuan from 2022 to 2024, and net profits of 129 million yuan, 76.56 million yuan, and 45.96 million yuan respectively [3]

Group 1 - Sun Cable's shareholder plans to reduce its stake by up to 3% of the company's shares, amounting to 21.67 million shares, due to operational needs [1] - China Chemical's controlling shareholder has secured a loan commitment of up to 540 million yuan to support its share buyback plan, which aims to purchase between 300 million and 600 million yuan worth of shares within 12 months [1] Group 2 - Palm Holdings has initiated legal proceedings over a loan dispute involving over 149 million yuan, which represents 8.99% of the company's latest audited net assets [2] - Zhongtai Securities' application for a specific stock issuance has been accepted by the Shanghai Stock Exchange, pending further regulatory approval [4] Group 3 - Tongda Electric's stock has seen a significant increase of 30.01% over three consecutive trading days, raising concerns about potential market overheating and irrational speculation [5] - Huaneng International plans to apply for public REITs based on its Qingdao project, involving a transfer of project company shares and strategic participation from related parties [7] Group 4 - Longjian Shares' application for issuing convertible bonds has been approved by the Shanghai Stock Exchange, pending further registration approval from the China Securities Regulatory Commission [7] - Hehe Information is planning to issue H-shares and list on the Hong Kong Stock Exchange to enhance its global capital operations [8] Group 5 - ST Huaxi has signed a significant overseas contract worth approximately 2.9 billion yuan for the reconstruction of a power plant in Iraq, although the contract's effectiveness is subject to certain conditions [9] - Zhongqi Shares has project approval for a chemical product but has not yet commenced production, indicating limited impact from recent industry incidents [11] Group 6 - Sino Medical's subsidiary has received a medical device registration certificate for a new stent product, marking a significant advancement in its product offerings [14] - *ST Longjin's stock is entering a delisting preparation period, with trading expected to last for 15 days [15] Group 7 - Chao Da Equipment has undergone a change in controlling shareholder, with a significant portion of shares transferred to Nanjing Youxu [15] - *ST Wan Fang plans to transfer a 68.88% stake in a subsidiary for 7.6 million yuan, ceasing its financial consolidation with the subsidiary [16] Group 8 - Zhejiang Construction's subsidiary has won a framework contract for a residential redevelopment project valued at approximately 1.2 billion yuan, expected to positively impact the company's performance [17] - China Gold's controlling shareholder plans to increase its stake in the company by investing between 168 million and 335 million yuan [18] Group 9 - Tianhong Shares' major shareholder intends to reduce its stake by up to 3%, amounting to 35.07 million shares, due to personal funding needs [18] - Lingdian Electric Control is planning to acquire a 98.43% stake in a company for 478 million yuan to consolidate resources in the automotive electronics sector [19] Group 10 - Tianyuan Pet is planning to acquire an 89.71% stake in a technology company, with funding to be raised through a share issuance [19] - Beijing Culture's major shareholder plans to reduce its stake by up to 3%, amounting to 21.48 million shares, due to operational funding needs [20]

Group 1 - The overall market liquidity remains tight, with structural market conditions leading to rotations in new consumption and new manufacturing sectors [1][18] - There are left-side investment opportunities in fields such as robotics, intelligent driving, and internet platforms [1][18] - The basic chemical industry is currently undervalued, presenting medium to long-term investment potential [18] Group 2 - The performance of sectors like consumption and pharmaceuticals is expected to be relatively stable, with short-term elasticity likely to be better [18] - The chemical industry is anticipated to see structural opportunities and valuation recovery in 2025, driven by policy stimulus and improving demand [18] - The supply side of the chemical industry is experiencing a slowdown in capital expenditure and new capacity growth, which will take time to digest [18]

Group 1 - Tianyuan Pet (301335) is accelerating its layout in the C-end channel by acquiring 89.7145% of Guangzhou Taotong Technology Co., Ltd. for a transaction price of 688 million yuan, with the total valuation of Taotong at 777 million yuan [1][2] - The acquisition will enhance Tianyuan Pet's e-commerce capabilities, optimizing its revenue structure and facilitating industrial upgrades [2] - Taotong Technology is a leading e-commerce service provider with strong C-end user marketing capabilities, achieving sales of 2 billion yuan in 2024, with pet food being a significant segment [3] Group 2 - The domestic pet market is in a rapid development phase, prompting Tianyuan Pet to strengthen its domestic market expansion and focus on online e-commerce business [2] - The transaction involves a major asset restructuring, with Tianyuan Pet planning to issue shares and pay cash totaling 2.49 billion yuan and 4.39 billion yuan respectively for the acquisition [2] - Taotong Technology has partnerships with major global pet food brands, enhancing its operational capabilities and sustainable profitability through data-driven supply chain optimization [3]

| | | | | | 二、财务报表……………………………………………………… 第 6—11 页 （一）合并及母公司资产负债表…………………………… 第 6—7 页 （二）合并及母公司利润表…………………………………… 第 8 页 （三）合并及母公司现金流量表……………………………… 第 9 页 （四）合并及母公司所有者权益变动表………………… 第 10—11 页 三、财务报表附注……………………………………………… 第 12—97 页 四、附件………………………………………………………… 第 98—101 页 （一）本所营业执照复印件…………………………………… 第 98 页 （二）本所执业证书复印件…………………………………… 第 99 页 （三）签字注册会计师证书复印件…………………… 第 100—101 页 审 计 报 告 天健审〔2025〕 11592 号 广州淘通科技股份有限公司全体股东： 一、审计意见 我们审计了广州淘通科技股份有限公司（以下简称淘通科技公司）财务报表， 包括 2023 年 12 月 31 日、2024 年 12 月 31 日的合并及母公司资产负债表，2023 年度、2024 年 ...

| | | | | | | 二、备考合并财务报表………………………………………………第 | 2—3 | | 页 | | --- | --- | --- | --- | | （一）备考合并资产负债表………………………………………… | 第 | 2 | 页 | | （二）备考合并利润表……………………………………………… | 第 | 3 | 页 | 审 阅 报 告 天健审〔2025〕12959 号 杭州天元宠物用品股份有限公司全体股东： 我们审阅了后附的杭州天元宠物用品股份有限公司（以下简称天元宠物公司） 按照备考合并财务报表附注三所述编制基础编制的备考合并财务报表，包括 2024 年 12 月 31 日的备考合并资产负债表，2024 年度的备考合并利润表以及备 考合并财务报表附注。备考合并财务报表的编制是天元宠物公司管理层的责任， 我们的责任是在实施审阅工作的基础上对备考合并财务报表出具审阅报告。 我们按照中国注册会计师执业准则的规定执行了审阅业务。该准则要求我们 计划和实施审阅工作，以对备考合并财务报表是否不存在重大错报获取有限保证。 审阅主要限于询问天元宠物公司有关人员和对财务数据实施分析程序，提供的保 证 ...

国泰海通证券股份有限公司 关于 杭州天元宠物用品股份有限公司 发行股份及支付现金购买资产 并募集配套资金暨关联交易 之 独立财务顾问报告 独立财务顾问 中国（上海）自由贸易试验区商城路 618 号 二〇二五年五月 独立财务顾问声明与承诺 国泰海通证券股份有限公司接受杭州天元宠物用品股份有限公司的委托，担 任本次杭州天元宠物用品股份有限公司发行股份及支付现金购买资产并募集配 套资金暨关联交易之独立财务顾问，就该事项向上市公司全体股东提供独立意见， 并制作本报告。 本报告是依据《中华人民共和国公司法》《中华人民共和国证券法》《上市 公司重大资产重组管理办法》《上市公司并购重组财务顾问业务管理办法》《公 开发行证券的公司信息披露内容与格式准则第 26 号——上市公司重大资产重组》 等相关法律法规的规定，根据重组报告书及交易对方提供的有关资料和承诺制作。 独立财务顾问按照行业公认的业务规范，本着诚实守信、勤勉尽责的精神， 遵循独立、客观、公正的原则，在认真审阅各方所提供的相关资料并充分了解本 次交易行为的基础上，对重组报告书发表独立财务顾问核查意见，旨在对本次交 易做出独立、客观和公正的评价，以供上市公司全体股东及公 ...

方等廉洁从业风险防控的意见》相关规定的核查意见 杭州天元宠物用品股份有限公司（以下简称"公司"）拟通过发行股份及支 付现金的方式购买广州淘通科技股份有限公司（以下简称"标的公司"）89.7145% 股权（以下简称"标的资产"）并募集配套资金（以下简称"本次交易"）。 国泰海通证券股份有限公司（以下简称"国泰海通"或"独立财务顾问"） 作为上市公司本次交易之独立财务顾问，按照中国证券监督管理委员会《关于加 强证券公司在投资银行类业务中聘请第三方等廉洁从业风险防控的意见》（证监 会公告［2018］22 号）的规定，就独立财务顾问及上市公司在本次交易中聘请 第三方机构或个人（以下简称"第三方"）的行为进行核查并发表如下意见： 一、独立财务顾问不存在各类直接或间接有偿聘请第三方的行为 经核查，国泰海通在本次交易中不存在各类直接或间接有偿聘请第三方行为， 亦不存在未披露的聘请第三方行为，符合《关于加强证券公司在投资银行类业务 中聘请第三方等廉洁从业风险防控的意见》相关规定的要求。 二、本次交易中上市公司有偿聘请第三方的核查 经核查，上市公司在本次交易中聘请的中介机构情况如下： 国泰海通证券股份有限公司 关于本次交易符合 ...

国泰海通证券股份有限公司 国泰海通证券股份有限公司 2025 年 5 月 28 日 截至本核查意见签署日，本次交易涉及的相关主体，不存在因涉嫌与本次交 易相关的内幕交易被立案调查或者立案侦查的情形，最近 36 个月内不存在被中 国证监会作出行政处罚或者被司法机关依法追究刑事责任的情形。不存在《上市 公司监管指引第 7 号——上市公司重大资产重组相关股票异常交易监管》第十二 条规定的不得参与任何上市公司重大资产重组的情形。 （以下无正文） （此页无正文，为《国泰海通证券股份有限公司关于本次交易相关主体不存在依 据<上市公司监管指引第 7 号——上市公司重大资产重组相关股票异常交易监管> 第十二条不得参与任何上市公司重大资产重组情形的核查意见》之签章页） | 董事长/法定代表人： | | | | | | --- | --- | --- | --- | --- | | | 朱 健 | | | | | 内核负责人： | | | | | | | 杨晓涛 | | | | | 部门负责人： | | | | | | | 郁伟君 | | | | | 项目主办人： | | | | | | | 戴水峰 | 徐振宇 | 王 | 宁 ...

本次交易前 36 个月内，公司控股股东为薛元潮，实际控制人为薛元潮、薛 雅利，均未发生变更。本次交易后，公司控股股东和实际控制人均不会发生变更， 因此，本次交易不构成重组上市。 国泰海通证券股份有限公司 关于杭州天元宠物用品股份有限公司 本次交易不构成重组上市的核查意见 杭州天元宠物用品股份有限公司（以下简称"公司"）拟通过发行股份及支 付现金的方式购买广州淘通科技股份有限公司（以下简称"标的公司"）89.7145% 股权（以下简称"标的资产"）并募集配套资金（以下简称"本次交易"）。本 次交易构成《上市公司重大资产重组管理办法》（以下简称"《重组管理办法》"） 规定的重大资产重组。 国泰海通证券股份有限公司（以下简称"国泰海通"、"独立财务顾问"） 接受上市公司委托，担任上市公司本次交易的独立财务顾问。根据《上市公司重 大资产重组管理办法》（以下简称"《重组管理办法》"）的规定，独立财务顾 问就本次交易是否构成《重组管理办法》第十三条规定的重组上市进行核查并发 表如下意见： 2025 年 5 月 28 日 2 （以下无正文） 1 （本页无正文，为《国泰海通证券股份有限公司关于杭州天元宠物用品股份有限 公司本 ...