Core Viewpoint - Longxin General Power Co., Ltd. plans to conduct an asset swap with Chongqing Zongshen Power Machinery Co., Ltd. to address the issue of competition in the motorcycle and general machinery sectors, aiming for business focus and specialization [2][3] Group 1: Asset Swap Details - Longxin General intends to exchange its general machinery-related assets and liabilities, primarily the equity of Chongqing Xinlongxin Electromechanical Co., Ltd., for Zongshen Power's motorcycle engine-related assets and liabilities, mainly the equity of Chongqing Zongshen Engine Manufacturing Co., Ltd. [2] - The difference in the valuation of the swapped assets will be compensated in cash by one party to the other, and the transaction will not involve issuing shares or changing the controlling shareholder [2] Group 2: Background and Strategic Focus - The asset swap is motivated by a change in the actual controller of Longxin General, which will occur in December 2024, leading to indirect control by Zongshen Industrial Group Co., Ltd. This has resulted in competition in related business areas with subsidiaries controlled by Zongshen Group, including Zongshen Power [2] - Post-transaction, Longxin General will focus its resources on developing motorcycle complete vehicles and motorcycle engine businesses, emphasizing core power technology research and global channel layout to enhance its motorcycle powertrain capabilities [3]

【近20家A股上市公司本周披露并购重组最新公告 润泽科技拟购买广东润惠42.56%股权股票将于2月24 日复牌】智通财经2月14日电，据智通财经不完全统计，截至发稿，本周（2月9日-2月14日）包括润泽 科技、宗申动力、华培动力、拓山重工、中南文化、厦门空港、天汽模、新锐股份、东望时代、新恒 汇、裕同科技、埃夫特、海南矿业、金徽股份、方大炭素、厦门钨业和中闽能源在内的17家A股上市公 司披露并购重组进展最新公告。其中，润泽科技拟以发行可转债方式购买广东润惠42.56%股权，股票 将于2月24日复牌。 转自：智通财经 ...

Core Viewpoint - Zongshen Power plans a significant asset swap with Longxin General to address industry competition and focus on specialized development [1][3] Group 1: Asset Swap Details - The asset swap aims to resolve competition between Zongshen Power and Longxin General, both controlled by Zongshen Industrial Group's chairman, Zuo Zongshen [2][3] - Zongshen Power intends to acquire Longxin General's general machinery assets, while Longxin General will take over Zongshen Power's motorcycle engine assets [3][4] - The transaction will not involve issuing shares, and the swap price will be determined based on the assessed value of the assets involved [4] Group 2: Business Performance - Zongshen Power's motorcycle engine business generated a revenue of 2.33 billion yuan in the first half of 2025, a year-on-year increase of 14.39%, with a net profit of 133 million yuan, up 39.30% [5] - Longxin General's general machinery business achieved a revenue of 2.18 billion yuan in the first half of 2025, reflecting a 52.82% year-on-year growth, with significant sales increases in lawn care products [5] Group 3: Strategic Implications - Post-transaction, Zongshen Power will focus on developing core businesses with technological advantages, optimizing asset allocation, and protecting minority shareholders' interests [6] - Longxin General aims to concentrate resources on motorcycle and engine businesses, enhancing product structure and value, and striving to become a global leader in two-wheeled transportation [6]

Financial Data - As of the end of January, the social financing scale increased by 8.2% year-on-year, and the broad money supply (M2) grew by 9.0%, significantly higher than the nominal GDP growth rate, creating a favorable monetary environment for economic recovery [3]. Stock Market Adjustments - The Hang Seng Index will increase its constituent stocks from 88 to 90, with the inclusion of CATL, Luoyang Molybdenum, and Laopu Gold, while Zhongsheng Holdings will be removed. These changes will take effect after the market closes on March 6 and will be implemented on March 9 [3]. Regulatory Actions - The China Securities Regulatory Commission (CSRC) announced administrative penalties and market bans against Tianfeng Securities for alleged violations related to financing and information disclosure for Wuhan Contemporary Technology Industry Group [3]. Company News - Southwest Securities plans to issue A-shares to specific investors, raising up to 6 billion yuan to supplement its capital for various business operations [7]. - SAIC Group's subsidiary, SAIC Jin控, will establish a private equity fund with an initial subscription of 2.5 billion yuan, focusing on solid-state batteries and other advanced technologies [8]. - KOTAI Power has decided to terminate its H-share issuance preparations, stating that this decision will not significantly impact its operations [8]. - YG Chip received a notice from the CSRC regarding an investigation for suspected information disclosure violations, while its business activities continue normally [8]. - Meituan expects a loss of 23.3 billion to 24.3 billion yuan for the fiscal year 2025, primarily due to a shift from a profit of approximately 52.4 billion yuan in 2024 to an operational loss in 2025, alongside increased investments in overseas operations [9]. - Zongshen Power plans to swap motorcycle engine-related assets with Longxin General's assets to resolve competition issues and promote clearer business development [9]. Industry Insights - Huatai Securities believes that the advancement of a unified national electricity market will benefit the new power system construction from multiple dimensions, focusing on the accelerated development of energy storage, continuous construction of the main grid, and structural growth in renewable energy demand [11].

重要新闻提示 6. 中国人民银行2月13日消息，为构建覆盖全面的宏观审慎管理体系，强化系统重要性金融机构监管， 根据《系统重要性银行评估办法》，近期中国人民银行、国家金融监督管理总局开展了2025年度我国系 统重要性银行评估，认定21家国内系统重要性银行，其中国有商业银行6家，股份制商业银行10家，城 市商业银行5家。 按系统重要性得分从低到高分为五组：第一组11家，包括中国民生银行、中国光大银行、平安银行、华 夏银行、宁波银行、江苏银行、北京银行、南京银行、广发银行、浙商银行、上海银行；第二组4家， 包括兴业银行、中信银行、浦发银行、中国邮政储蓄银行；第三组2家，包括交通银行、招商银行；第 四组4家，包括中国工商银行、中国银行、中国建设银行、中国农业银行；第五组暂无银行进入。 央行：1月末，社会融资规模同比增长8.2%，广义货币供应量（M2）同比增长9.0% 恒生指数成分股调整，宁德时代、洛阳钼业、老铺黄金被纳入 证监会对天风证券作出行政处罚及市场禁入事先告知 财经新闻 1. 中国人民银行2月13日发布2026年1月金融统计数据报告。数据显示，1月末，社会融资规模同比增长 8.2%，广义货币供应量（M2）同 ...

Group 1: Industry Developments - The "Modern Capital Urban Circle Spatial Collaborative Planning (2023-2035)" has been released, aiming to enhance the capital's functions and create a high-quality development growth pole [1] - The Ministry of Industry and Information Technology has called for accelerated development of the low-altitude industry, emphasizing top-level planning and the establishment of a standard system [1] - The State Council has approved the upgrade of the Xiong'an High-tech Industrial Development Zone to a national high-tech industrial development zone, covering an area of 20.84 square kilometers [1] Group 2: Financial Data - As of the end of January, the broad money supply (M2) reached 347.19 trillion yuan, a year-on-year increase of 9% [1] - The social financing scale stood at 449.11 trillion yuan at the end of January, with a year-on-year growth of 8.2% [1] - The January consumer price index (CPI) in the U.S. rose by 2.4% year-on-year, a decrease from 2.7% in December [2] Group 3: Company Announcements - China Shenhua reported that its second phase unit 4 has officially commenced commercial operations, with coal sales in January increasing by 9.9% year-on-year [4] - Gaode Infrared has signed a product order contract worth approximately 1.851 billion yuan [4] - Haiyou Engineering has won overseas project bids, with the company's share exceeding 800 million USD [4]

Core Viewpoint - Chongqing Zongshen Power Machinery Co., Ltd. is planning a significant asset swap with Longxin General Power Co., Ltd. to address competition issues and enhance business focus and specialization [2][4][12]. Group 1: Transaction Overview - The company intends to exchange its motorcycle engine-related assets and liabilities, primarily the equity of Chongqing Zongshen Engine Manufacturing Co., Ltd., with Longxin General's general machinery-related assets and liabilities, primarily the equity of Chongqing Xinlongxin Electromechanical Co., Ltd. [2][4] - The transaction will involve cash compensation for the difference in asset values, and the specific asset scope will be determined after due diligence, auditing, and evaluation [2][4][5]. - This transaction is classified as a related party transaction and is expected to constitute a major asset restructuring as per regulations [2][5]. Group 2: Impact on the Company - The transaction aims to resolve the existing competition between Zongshen Power and Longxin General, promoting clearer and more specialized business development [12]. - Post-transaction, Zongshen Power will focus resources on developing core businesses in general machinery with technological advantages and market potential, optimizing asset and resource allocation [12]. - The transaction will not involve issuing shares and will not change the company's controlling shareholder or actual controller, thus maintaining the current equity structure [13].

Core Viewpoint - The transaction between Zongshen Power (宗申动力) and Longxin General (隆鑫通用) aims to resolve the issue of industry competition between the two companies by swapping their respective assets related to motorcycle engines and general machinery, thereby promoting clearer and more specialized business development for both parties [2][4]. Group 1: Transaction Details - Zongshen Power plans to exchange its motorcycle engine business assets and liabilities, primarily the equity of Chongqing Zongshen Engine Manufacturing Co., Ltd., with Longxin General's general machinery business assets and liabilities, primarily the equity of Chongqing Xinlongxin Electromechanical Co., Ltd. [2] - The transaction will involve a cash adjustment to account for the difference in asset values exchanged [2]. - This transaction is classified as a related party transaction due to both companies being indirectly controlled by the same individual, Zuo Zongshen [4]. Group 2: Strategic Objectives - The transaction is intended to eliminate the existing competition between Zongshen Power and Longxin General, allowing Zongshen Power to focus on developing its core business in general machinery, which has technological advantages and market potential [4]. - Longxin General aims to concentrate its resources on motorcycle complete vehicles and engine businesses, enhancing its core power technology research and global channel development [4]. Group 3: Financial Projections - For 2025, Zongshen Power expects to achieve a net profit attributable to shareholders of between 646 million and 738 million yuan, representing a year-on-year growth of 40% to 60% [5]. - Longxin General anticipates a net profit attributable to shareholders of between 1.65 billion and 1.8 billion yuan for 2025, with a year-on-year growth of 47.15% to 60.53% [5]. Group 4: Current Market Reaction - As of February 13, the stock price of Zongshen Power decreased by 1.03%, while Longxin General's stock price fell by 1.52% [6].

不停牌。 宗申动力（001696）2月13日晚间公告，公司拟将其持有的摩托车发动机业务相关资产与负债（以重庆 宗申发动机制造有限公司股权为核心）与隆鑫通用动力股份有限公司（简称"隆鑫通用"，证券代码： 603766）持有的通用机械业务相关资产与负债（以重庆新隆鑫机电有限公司股权为核心）进行置换，置 换资产交易作价的差额将由一方向另一方以现金方式补足（简称"本次交易"）。本次交易公司股票不停 牌。 END 点击关键字可查看 潜望系列深度报道丨 股事会专栏 丨 投资小红书 丨 e公司调查 丨 时报会客厅 丨 十大明星私募访谈 丨 宁德时代被纳入！港股，重大调整！ 丨 688209在互动平台"自问自答"，被证监会立案调查 丨 002969突发！深交所暂停部分投资者交易 丨 天风证券，被证监会立案！ 丨 600893尾盘涨停！军 工股拉升 丨 实探丨深圳出手规范黄金市场，水贝商家：只接"现货" 丨 存储芯片，逆市大涨！ 丨 深 圳出手！不得违规开展黄金预定价交易！ 丨 美股、黄金、白银，集体大跌！ 根据初步研究和测算，本次交易预计将构成《上市公司重大资产重组管理办法》规定的重大资产重组。 本次交易所涉资产的具体范围将 ...

Group 1 - The core point of the article is that Zongshen Power (001696) plans to swap its motorcycle engine business assets and liabilities with Longxin General (603766) to address the issue of competition between the two companies [2][4] - The transaction is expected to constitute a significant asset restructuring, as both companies are controlled by the same entity, Zuo Zongshen, and the swap aims to clarify and professionalize their business operations [4][5] - After the transaction, Zongshen Power will focus on developing core businesses with technological advantages and market prospects, while Longxin General will concentrate on motorcycle complete vehicles and engine business, enhancing their product structure and value [4][5] Group 2 - The transaction is still in the planning stage and requires further verification and negotiation, with necessary decision-making and approval processes to be followed according to relevant laws and regulations [5] - The specific scope of the assets involved in the transaction will be clarified after due diligence, auditing, and evaluation, with the transaction price based on a report from a qualified evaluation agency [5] - Both companies are projected to see profit growth in 2025, with Zongshen Power expecting a net profit of 646 million to 738 million yuan, a year-on-year increase of 40% to 60%, and Longxin General anticipating a net profit of 1.65 billion to 1.8 billion yuan, a year-on-year increase of 47.15% to 60.53% [5]