Group 1 - The core viewpoint of the article highlights that Shanxi Installation (02520) has transferred shares from China Merchants Securities to GF Securities in Hong Kong, with a market value of HKD 255 million, accounting for 29.05% of the total [1] - On December 1, 2025, Shanxi Installation's application for the overseas listing of its unlisted H-shares was accepted by the China Securities Regulatory Commission, making it the first company in Shanxi Province to pursue full circulation of H-shares [1] - Following the completion of the share conversion, the circulating shares of Shanxi Installation will increase from 373 million to 1.373 billion, significantly enhancing the company's circulating capital and market value, which is expected to attract more capital attention [1] Group 2 - On December 23, Zhuoran Co., Ltd. announced that its wholly-owned subsidiary Zhuoran Smart signed a supplementary agreement for the EPC contract of the Inner Mongolia Dongjing Zhongke New Materials Co., Ltd. project, which involves an annual production of 1.2 million tons of PBAT biodegradable polyester [1] - The total investment for the Inner Mongolia PBAT project is set at RMB 5.5 billion, and upon completion, it will become the largest single PBAT biodegradable polyester production line in China [1] - Shanxi Installation is the EPC contractor for this project, marking its first contract in the PBAT biodegradable polyester sector [1]