Group 1 - Company Northern Long Dragon (北方长龙) is planning a cross-border acquisition of Henan Zhongsheng Composite Materials Co., Ltd. (河南众晟) through issuing A-shares and cash payment, with the stock suspension starting from May 26 [2] - The acquisition will not change the actual controller of Northern Long Dragon, and the transaction is still in the planning stage, with a preliminary agreement signed with the controlling shareholder of Henan Zhongsheng, Suo Jingshan, who holds 92% of the company [2] - Henan Zhongsheng, established in 2019, focuses on fiberglass pultrusion equipment, molds, and composite materials, employing over 150 staff, including 25 engineers [5] Group 2 - Northern Long Dragon, which specializes in military equipment, has faced significant performance pressure since its listing, with a revenue drop of 46.09% in 2023 to approximately 135 million yuan and a net profit decline of 85.61% [5] - In 2024, the company reported a further revenue decrease of 20.13% to about 108 million yuan, resulting in a net loss of approximately 10.89 million yuan [5] - In the first quarter of 2025, Northern Long Dragon continued to report losses, with revenues of about 20.57 million yuan, down 16.86% year-on-year, and a net loss of approximately 5.07 million yuan [6] Group 3 - The military vehicle equipment sector, where Northern Long Dragon operates, is characterized as a highly specialized market with significant technical barriers, shifting competition focus towards lighter, stronger, and smarter solutions [6] - The demand for high-performance non-metallic materials is expected to grow due to the modernization and informatization of military equipment in China [6]

Core Viewpoint - Northern Long Dragon (301357.SZ) reported a significant decline in both revenue and net profit for the year 2024, indicating financial challenges faced by the company [1][2]. Financial Performance Summary - In 2024, the company achieved operating revenue of 108 million yuan, a decrease of 20.13% compared to the previous year [2][3]. - The net profit attributable to shareholders was -10.89 million yuan, a decline of 194.36% from a profit of 11.54 million yuan in the previous year [2][3]. - The net profit after deducting non-recurring gains and losses was -15.95 million yuan, worsening by 124.33% from -7.11 million yuan in the previous year [2][3]. - The net cash flow from operating activities was -13.44 million yuan, compared to -0.58 million yuan in the previous year [2][3]. Q1 2025 Performance Summary - For the first quarter of 2025, the company reported operating revenue of 20.57 million yuan, down 16.86% year-on-year [3]. - The net profit attributable to shareholders was -5.07 million yuan, compared to a profit of 0.35 million yuan in the same period last year, reflecting a decline of 244.16% [3]. - The net profit after deducting non-recurring gains and losses was -6.26 million yuan, a significant drop of 956.23% from 0.73 million yuan in the previous year [3]. - The net cash flow from operating activities improved to -11.30 million yuan, a 70.46% increase compared to -38.27 million yuan in the previous year [3]. IPO and Fundraising Details - Northern Long Dragon went public on April 18, 2023, on the Shenzhen Stock Exchange's ChiNext, issuing 17 million shares at a price of 50.00 yuan per share [3]. - The total amount raised from the IPO was 850 million yuan, with a net amount of 775.87 million yuan after deducting issuance costs [4]. - The company planned to use the raised funds for military-civilian integration composite material industry base construction and to supplement working capital [4]. Dividend Distribution - For the 2023 fiscal year, the company announced a profit distribution plan, proposing a cash dividend of 0.50 yuan per 10 shares and a capital reserve increase of 4 shares for every 10 shares held [4]. - The total cash dividend distribution amounted to 3.4 million yuan, and the total share capital increased to 95.2 million shares post-distribution [4].

Group 1 - Northern Long Dragon is planning to acquire the controlling stake of Henan Zhongsheng and raise matching funds, leading to a stock suspension [1] - The company specializes in the research, design, production, and sales of non-metal composite materials for military vehicle equipment [1] - Koyuan Pharmaceutical's major shareholder plans to reduce their stake by up to 3%, amounting to 324.87 million shares [2] Group 2 - Jiaste Technology's shareholder intends to reduce their stake by up to 3%, totaling 1,428.75 million shares [2] - Chengdi Xiangjiang's subsidiary has won a bid for a data center project with China Mobile, valued at 492 million yuan [3] - Zhongchao Holdings' actual controller sold 223 million shares during a period of stock price fluctuation, representing 0.16% of total shares [4] Group 3 - ST Yushun's stock will resume trading after confirming no significant changes in its operational environment [6] - Xing Shuai Er's shareholder plans to reduce their stake by up to 0.37%, equating to 130 million shares [7] - Weiguang Co. intends to reduce its stake by up to 1.32%, totaling 300 million shares [8] Group 4 - Zhongsheng Pharmaceutical's subsidiary has received ethical approval for two Phase III clinical trials for its innovative peptide drug RAY1225 [9][10] - Nongxin Technology's major shareholder plans to reduce their stake by up to 1.35%, amounting to 135 million shares [12] - Mintai Aluminum has signed a strategic cooperation agreement with Penghui Energy for collaboration in battery technology [14] Group 5 - Youyan Powder's controlling shareholder plans to reduce their stake by up to 1%, totaling 103 million shares [16] - Runjian Co. has been shortlisted for a procurement project with China Mobile, valued at 374 million yuan [17] - Bangyan Technology has terminated its plan to issue shares and raise funds for asset acquisition [18] Group 6 - Xianggang Technology's controlling shareholder intends to reduce their stake by up to 3%, equating to 648.42 million shares [19] - Zhongke Shuguang is undergoing a stock suspension due to a planned share swap merger with Haiguang Information [20]

Core Viewpoint - Northern Long Dragon plans to acquire controlling stake in Henan Zhongsheng Composite Materials Co., Ltd. and will raise matching funds, leading to a stock suspension starting May 26, 2025 [1][5]. Group 1: Acquisition Details - The company is in the process of issuing shares and cash to purchase assets and raise matching funds, with the stock suspension aimed at protecting investor interests due to uncertainties surrounding the transaction [5][6]. - The transaction plan is expected to be disclosed within 10 trading days, by June 10, 2025, in accordance with relevant disclosure requirements [4][6]. Group 2: Company Background - Henan Zhongsheng, established in May 2019 with a registered capital of 30 million yuan, focuses on fiberglass pultrusion equipment, molds, and composite materials [6]. - The company operates three main business segments: fiberglass pultruded profiles, molds, and equipment [6]. Group 3: Financial Performance - Northern Long Dragon has experienced poor financial performance in recent years, with revenue and net profit declining for three consecutive years from 2022 to 2024, including a significant loss in 2024 [7][8]. - In Q1 of this year, the company reported revenue of 20.57 million yuan, a year-on-year decrease of 16.86%, and a net loss of 5.07 million yuan [8].

Market Overview - On May 23, 2025, A-shares saw a collective decline with the Shanghai Composite Index closing at 3348.37 points, the Shenzhen Component Index at 10132.41 points, and the ChiNext Index at 2021.50 points. A total of 1107 stocks rose while 4204 stocks fell, with a total trading volume of 11555.89 billion yuan [1] - Hong Kong stocks showed mixed results on the same day, with the Hang Seng Index rising by 0.24% to 23601.26 points and a total trading volume of 2036.71 billion HKD. The Hang Seng Index increased by 1.1% over the week, while the Hang Seng Tech Index fell by 0.65% [1] - US stocks experienced fluctuations with the S&P 500 Index down by 0.67% to 5802.82 points, the Nasdaq Composite Index down by 1% to 18737.21 points, and the Dow Jones Industrial Average down by 0.61% to 41603.07 points. For the week, the S&P 500 Index fell by 2.61% [1] New Stock Offerings - On May 26, 2025, there was one new stock available for subscription, with no new stocks listed [2] - The new stock, Youyou Green Energy, has a subscription code of 301590 and an issue price of 89.6 yuan per share, with a price-to-earnings ratio of 15.37. The company specializes in EV full-scene direct current fast charging solutions and core charging components [4] Regulatory Developments - The Financial Regulatory Bureau is drafting a new regulation aimed at achieving "three clears" for asset management products of banks and insurance institutions. The draft includes comprehensive norms for the entire lifecycle of asset management products, focusing on information disclosure [5][6] - The draft regulation emphasizes clear product descriptions, accurate performance reporting, and transparent fee disclosures at various stages of the product lifecycle [6] - The State Administration for Market Regulation is seeking public opinion on a guideline to standardize the charging behaviors of online trading platforms, ensuring fair practices and protecting the rights of platform operators [6] Financial Information Management - The National Internet Information Office is actively addressing online financial information irregularities, resulting in the closure of several accounts that disseminated false information or engaged in illegal stock recommendations [7]

【要闻报道】 英伟达拟再推"中国特供"芯片 据参考消息援引新加坡《联合早报》网站5月25日引述路透社消息报道，美国芯片巨头英伟达据报将为 中国市场推出一款基于Blackwell架构的人工智能（AI）芯片，售价将大幅低于先前的H20芯片，预计最 快于6月开始量产。 报道称，这款采用最新一代Blackwell架构的AI处理器，预计售价介于6500美元至8000美元之间，明显 低于H20的定价。较低的售价通常意味着芯片规格相对较弱，制造工艺也更为简化。 点评：这将是英伟达第三次为中国市场推出符合美国监管要求的降级版芯片。美国政府日前禁止英伟达 向中国销售基于Hopper架构的H20芯片。 特朗普威胁50%关税两天后改口：恢复与欧盟贸易谈判窗口期 美国总统特朗普在与欧盟委员会主席冯德莱恩通电话后表示，他将把欧盟面临50%关税的最后期限延长 至7月9日。 特朗普当地时间周日在返回华盛顿的途中对记者说："我们进行了一次非常愉快的通话，我同意将它撤 回。" 冯德莱恩稍早前在X上发文称，"欧洲已准备好迅速、果断地推进谈判"，但"达成一项好的协议需要时 间，直到7月9日"。那是特朗普暂停所谓对等关税90天的截止日。 点评：这次 ...

Key Points - The State Council has approved the "Manufacturing Green and Low-Carbon Development Action Plan (2025-2027)", emphasizing the need for green technology innovation and the deep transformation of traditional industries [4] - 26 new floating rate funds have been registered by the CSRC, with fee structures set at 1.2%, 1.5%, and 0.6%, along with performance assessment indicators [4] - The People's Bank of China and the State Administration of Foreign Exchange have issued a draft notice to improve cross-border financing for domestic companies going public overseas [4] - The National Cyber Administration of China has taken action against accounts spreading false information in the capital market and illegal stock recommendations [5] - The State Administration for Market Regulation has drafted a compliance guideline for charging behaviors on online trading platforms [5] - The Financial Regulatory Bureau has released a draft for public consultation on the information disclosure management of asset management products [5] - Huawei's open-source HarmonyOS has reached over 130 million lines of code and has been adopted in over 1,100 products across various industries [6] - Nvidia is reportedly launching a new AI chip for the Chinese market, significantly cheaper than its previous H20 chip, expected to start production in June [9] - Haiguang Information and Zhongke Shuguang are planning a merger through a share exchange, with their stocks suspended from trading [9] - Several banks, including Bank of China and Postal Savings Bank, have received approval for A-share stock issuance to specific investors, raising significant capital [10] - Northern Long Dragon is planning to issue shares and raise funds for asset acquisition, with its stock suspended from trading [11] - Runjian Co. has won a 374 million yuan project from China Mobile [12] - A lawsuit has been filed against CATL by Hanchuan Intelligent, involving approximately 60.88 million yuan [16] - Yunnan Copper is planning a restructuring through a share issuance to acquire a 40% stake in Liangshan Mining [17]

证券代码：301357 证券简称：北方长龙 公告编号：2025-035 北方长龙新材料技术股份有限公司 关于筹划发行股份及支付现金购买资产并募集配套资金的停 牌公告 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。 若公司未能在上述期限内召开董事会审议并披露交易方案，公司证券最晚将 于 2025 年 6 月 10 日开市起复牌并终止筹划相关事项，同时披露停牌期间筹划事 项的主要工作、事项进展、对公司的影响以及后续安排等事项，充分提示相关事 项的风险和不确定性，并承诺自披露相关公告之日起至少 1 个月内不再筹划重大 资产重组事项。 二、本次筹划事项的基本情况 （一）标的资产基本情况 一、停牌事由和工作安排 北方长龙新材料技术股份有限公司（以下简称"公司"、"北方长龙"）正 在筹划发行股份及支付现金购买资产并募集配套资金事项（以下简称"本次交 易"），因有关事项尚存不确定性，为了维护投资者利益，避免对公司证券交易 造成重大影响，根据深圳证券交易所的相关规定，经公司申请，公司证券（品种： A 股股票，简称：北方长龙，代码：301357）自 2025 年 5 月 26 ...

Group 1: Talent and Workforce - In 2024, the total number of employees increased by 14% year-on-year, but the proportion of technical personnel decreased to 27%. The company is focusing on optimizing talent structure and training systems to support technological innovation [2][3]. - The company has established a competitive compensation structure and incentive policies to enhance cohesion and market competitiveness [3]. Group 2: Revenue and Profitability - In 2024, revenue from military non-metal composite materials accounted for 89%, but the gross margin decreased by 3.5 percentage points. The company is exploring new resin formulations and automated processes to reduce manufacturing costs [3][4]. - The revenue from civilian products grew by 18% year-on-year, but accounts receivable turnover days extended to 120 days. The company plans to enhance cash flow through customer credit assessment models and supply chain financial platforms [5]. Group 3: Research and Development - R&D expenses increased by 29% year-on-year, but the R&D expense ratio was only 6.3%, lower than industry leaders. The company is balancing R&D investment with short-term delivery pressures [5][6]. - The company is actively participating in the R&D of new military equipment to ensure business continuity [6]. Group 4: Financial Health - The asset-liability ratio increased by 7 percentage points to 64% in 2024, but the interest-bearing debt ratio remains low. The company is evaluating its debt structure and financing channels to reduce financial costs [6][7]. - Government subsidies accounted for 22% of net profit in 2024, primarily due to military product research subsidies and tax incentives. The company is assessing the sustainability of these subsidies [7][8]. Group 5: Market Expansion and Competition - Overseas revenue accounted for less than 5% in 2024, but there is growing demand for military equipment upgrades in the Middle East and Southeast Asia. The company plans to upgrade military trade qualifications and establish strategic partnerships to break market barriers [4][8]. - The company is facing increased competition, with competitors reducing costs through scale production. It is focusing on technological upgrades and service model innovations to narrow the gap [8][9]. Group 6: Supply Chain and Inventory Management - Supply chain security has become a focus, with the company exploring diversified supplier strategies to mitigate supply risks [10][11]. - Inventory turnover rate decreased by 22% year-on-year due to military order fluctuations. The company is working on demand forecasting algorithms and smart warehousing systems to reduce inventory costs [12][13].

北方长龙新材料技术股份有限公司 证券代码：301357 证券简称：北方长龙 公告编号：2025-034 1、本次股东大会未出现否决议案的情形。 2、本次股东大会不涉及变更以往股东大会已通过的决议。 一、会议召开和出席情况 本次股东大会由 2025 年 4 月 28 日召开的北方长龙新材料技术股份有限公 司（以下简称"公司"）第二届董事会第十一次会议作出决议召集，公司董事会 已于 2025 年 4 月 29 日在指定媒体上发布了《关于召开公司 2024 年年度股东大 会的通知》（公告编号：2025-030）。 2024 年年度股东大会决议公告 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。 特别提示： 本次会议采取现场表决与网络投票相结合的方式召开，其中，现场会议于 2025 年 5 月 19 日（星期一）15:00 在陕西省西安市国家民用航天产业基地航腾 路 589 号军民融合复合材料产业园二楼会议室召开。通过深圳证券交易所交易系 统进行网络投票的时间为 2025 年 5 月 19 日 9:15—9:25，9:30—11:30，13:00— 15:00；通过深 ...