Core Viewpoint - Betaini plans to invest 50 million yuan as a limited partner in the establishment of the Wuxi Jinyu Maowu Medical Health Industry Investment Partnership, aiming to deepen cooperation in the health ecosystem and enhance its competitive edge and profitability [1][5]. Investment Details - The total committed capital for the Jinyu Fund is 1 billion yuan, with Betaini holding a 5% partnership share after the investment [1]. - The fund's primary investment focus includes consumer healthcare, national health quality improvement, pharmaceuticals, medical devices, and AI in pharmaceuticals [2][6]. Historical Investment Background - Jinyu Maowu Investment Management Co., Ltd., the fund manager, has previously invested over 100 million yuan in Betaini since 2015 [6]. - Betaini has established and invested in nine fund companies since its listing in 2021, with planned investments exceeding 700 million yuan across various sectors including AI and consumer healthcare [7]. Financial Performance of Fund Manager - Jinyu Maowu reported a revenue of 84.46 million yuan in 2024, a year-on-year increase of 4.51%, while its net profit decreased by 68.21% to 51.61 million yuan [6]. - For the first half of 2024, the company achieved a revenue of 42.97 million yuan, a decrease of 2.36%, but its net profit rose by 75.35% to 44.24 million yuan [6]. Industry Trends - The medical beauty market in China is projected to grow significantly, reaching 399.8 billion yuan by 2026, indicating a strong growth potential in this sector [10]. - Betaini has formed a strategic partnership with Lumenis Group to develop home medical beauty devices, integrating its R&D capabilities with Lumenis' technology [11]. Recent Developments - Betaini's brand AOXMED has seen rapid growth, achieving a revenue of 51.47 million yuan in the first half of 2025, a year-on-year increase of 93.90% [11]. - The company has actively engaged in the medical beauty sector, with multiple investments and product launches aimed at enhancing its market presence [12].

200余家公司集体"换装"，北交所全面进入"920"代码时代。 根据安排，自10月9日起，北交所为该所存量股票启用920新证券代码。截至当日，北交所共有上市公司 277家，总市值约8716亿元。 前期，北交所于去年4月上线启用920代码号段功能，支持新上市公司使用该代码号段完成申购、询价和 上市，同年5月上市的万达轴承（920002.BJ）成为920代码第一股。今年5月，颖泰生物（920819.BJ） 等6家存量公司作为试点完成代码切换。 "北交所为存量股启用新证券代码，标志着北交所全面进入独立代码时代，脱离过往与新三板混同的代 码体系。"开源证券北交所研究中心总经理诸海滨认为，这有利于提高板块认同感，长远看，该举措可 与其他改革措施发挥政策合力，助推北交所打造服务创新型中小企业主阵地。 存量公司批量"换装"，是否将为北交所带来一波"920"行情？10月9日，A股三大指数悉数收涨，沪指强 势站上3900点，北证50当日微跌。业内认为，结合历史行情，国庆假期过后，小盘股将迎来传统优势窗 口，北交所当前以小盘风格为主，上涨概率进一步升高。 2023年9月初，北交所"深改19条"明确提出，启用独立代码号段，提高股票 ...

国庆、中秋假期归来，北交所迎来全线换装920新证券代码的历史一刻。 根据此前安排，自2025年10月9日起，北交所将为存量242家上市公司启用920新证券代码；同日起，投 资者对北交所存量股票的交易委托、行情查询以及市场主体对北交所存量股票的业务办理等，均使用切 换后的920新证券代码。 券商提醒代码切换后的八大交易细节 本次，北交所全线切换920新证券代码，与投资者关系密切。 针对投资者比较关注的相关交易问题及后续注意事项，记者根据开源证券、东方财富证券、东北证券、 国金证券、国投证券等发布的相关投教信息，对此进行梳理、汇总。 关注点一：账户会有什么变化？ 不可以，切换完成后，原代码状态为新三板已摘牌证券，不再下发相关行情信息，在交易委托的时候， 需要使用新代码。若使用原代码交易会有弹框提示客户通过新代码交易。 本次除对证券代码进行调整外，持仓市值与交易规则均不发生变化。投资者不用手动操作，券商系统会 自动变更为新代码。而且，无论新老代码，都可查询相关股票的交易记录，投资者的原买卖点交易记录 不受代码切换影响，已创建的北交所股市条件单也会继续监控。 关注点三：老代码还会被启用吗？ 不会重新启用，也不会再分配 ...

Core Viewpoint - The Beijing Stock Exchange (BSE) has initiated the use of a new securities code (920) for existing stocks starting from October 9, marking a transition to an independent code system aimed at enhancing its market positioning for innovative small and medium-sized enterprises [1][3]. Group 1: Code Transition Details - The new code system will apply to 248 existing stocks, facilitating a clearer distinction between BSE and the previous New Third Board codes [3]. - The transition to the 920 code is intended to eliminate confusion caused by the previous code system, which included multiple prefixes (43, 83, 87) that could mislead investors regarding the nature of the stocks [3][4]. - The BSE's move to a unified code system is expected to improve the recognition of listed companies and enhance the overall identity of the exchange [3][4]. Group 2: Historical Context and Implementation - The transition process has been in preparation for over two years, with the China Securities Regulatory Commission (CSRC) advocating for the establishment of an independent code system to improve stock identification [4]. - The BSE began preparations for the new code system in November 2023, with the first stock under the new code (920002) expected to be listed by May 30, 2024 [4][5]. - The code switching for existing stocks will occur in phases, starting with a pilot program involving six selected stocks to ensure a smooth transition [5]. Group 3: Market Impact and Investor Engagement - The introduction of the unified code is anticipated to simplify information retrieval for investors, potentially attracting more capital into the BSE and differentiating it from the Shanghai and Shenzhen markets [6]. - This strategic move is seen as a step towards enhancing the BSE's image as an independent market, reinforcing its role as a platform for innovative enterprises [6].

Core Viewpoint - The Beijing Stock Exchange (BSE) will switch to a new securities code system for existing stocks starting October 9, marking a transition to an independent code era aimed at enhancing its market positioning for innovative small and medium enterprises [1][4]. Group 1: Code Transition Details - The new securities code will be unified under the 920 code segment, which will help eliminate confusion caused by the previous codes used from the New Third Board [4][6]. - A total of 248 stocks will complete the transition to the new code, which can be checked on the BSE's official website [4]. - The transition process has been in preparation for over two years, with the China Securities Regulatory Commission (CSRC) previously advocating for the establishment of an independent code segment to improve stock identification [4][5]. Group 2: Implementation and Future Plans - The BSE plans to launch the 920 code functionality for new listings on April 22, 2024, while ensuring a smooth transition for existing companies [5][6]. - The first stock to adopt the new 920 code will be Wanda Bearing, listed on May 30, 2024, under the code "920002" [6]. - The transition for existing stocks will occur in batches, starting with a pilot program involving six selected stocks to ensure operational continuity and market stability [6][7]. Group 3: Market Impact - The unified code system is expected to facilitate easier information searches for investors, potentially attracting more investment and differentiating the BSE from other markets [7].

2025 年 9 月 23 日，宁波球冠电缆股份有限公司(以下简称"公司")收到政 府补助金额 7,600,000.00 元，上述补助是与资产相关的政府补助。 证券代码：920682 证券简称：球冠电缆 公告编号：2025-083 宁波球冠电缆股份有限公司 关于收到政府补助的公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记 载、 误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个 别及连带法律责任。 一、获取补助的基本情况 2025 年 9 月 25 日 二、对上市公司的影响 根据《企业会计准则第 16 号一政府补助》等有关规定，公司将对上述政府 补助进行相应的会计处理，具体会计处理以审计机构年度审计确认后的结果为准。 敬请广大投资者注意投资风险。 三、备查文件 《政府补助收款证明》 宁波球冠电缆股份有限公司 董事会 ...

Core Viewpoint - The Beijing Stock Exchange (BSE) has announced the completion of preparations for the stock code switching of existing listed companies, which will take effect on October 9, 2025, marking a significant adjustment in the market's foundational system and reinforcing BSE's independent status as China's third-largest stock exchange [1] Group 1: Code Switching Process - The code switching initiative began on November 17, 2023, to implement the China Securities Regulatory Commission's "Deep Reform 19 Articles" and aimed to standardize the stock codes to the "920 code segment" [2] - The BSE adopted a phased approach, first switching new listings to the "920 code" on April 22, 2024, with the first stock, Wanda Bearing, listed under this new code shortly thereafter [2] - A total of six pilot stocks were selected for the code switch, chosen for their long listing history and high market recognition, ensuring efficient switching without triggering adjustment mechanisms [2] Group 2: Testing and Implementation - The BSE conducted extensive network testing, with four tests carried out in April 2025, involving various market participants to ensure smooth participation in the BSE [3] - The testing covered the entire business chain, facilitating a seamless transition for institutional investors to engage with the BSE [3] Group 3: Market Identity and Valuation System - The introduction of the "920 code" will create a distinct three-digit code structure among China's stock exchanges, enhancing BSE's market identity [4] - Experts highlight that the new code signifies a critical milestone in BSE's market development, improving the recognition of listed companies and aiding investors in making informed decisions [4] - The transition from "New Third Board" to "BSE listed companies" will further reshape the valuation system, with the "920 code" serving as a unique identifier [5] Group 4: Market Performance - The recognition of new stocks on the BSE has been increasing, with average first-day price changes of 218% in 2024 and 268% in 2025 [5] - As of April 2025, 58.11% of BSE-listed companies are classified as specialized, refined, distinctive, and innovative "little giants," with 69.57% of new listings in 2024 falling into this category [5]

Core Viewpoint - The Beijing Stock Exchange (BSE) has completed the preparation for the stock code switching of existing listed companies, marking a significant adjustment in its market infrastructure and reinforcing its status as China's third-largest stock exchange [1][6]. Group 1: Code Switching Process - The code switching process began on November 17, 2023, to implement the China Securities Regulatory Commission's "Deep Reform 19 Articles" policy, transitioning to the "920 code segment" for listed companies [3]. - The BSE adopted a phased approach, first switching new listings to the "920 code" on April 22, 2024, with the first stock, Wanda Bearing, listed under this new code shortly after [3][5]. - A total of 248 existing stocks will have their codes switched starting October 9, 2025, requiring investors to use the new codes for trading and inquiries [1][3]. Group 2: Market Identity and Valuation System - The adoption of the "920 code" will create a distinct three-code structure among China's stock exchanges, enhancing the BSE's market identity [7]. - The new code signifies a critical milestone in the BSE's market development, improving the recognition of listed companies and facilitating investor engagement [7][8]. - The transition from "New Third Board" to "BSE listed companies" will help reshape the valuation system, with 58.11% of BSE-listed companies classified as "specialized, refined, distinctive, and innovative" by April 2025 [8].

Core Viewpoint - The Beijing Stock Exchange (BSE) is set to implement a significant adjustment by switching the stock codes of 248 existing listed companies to a new "920" code starting from October 9, 2025, which solidifies its independent status as China's third-largest stock exchange [1][4]. Group 1: Code Switching Process - The code switching initiative began on November 17, 2023, to address confusion caused by multiple initial code formats (400, 430, 830) used by companies listed on the New Third Board [2]. - The BSE adopted a phased approach, first switching new listings to the "920" code on April 22, 2024, with the first company, Wanda Bearing, listed under this new code shortly thereafter [2]. - A large-scale network testing was conducted in April 2025, involving various market participants to ensure a smooth transition for investors [3]. Group 2: Market Identity and Valuation System - The introduction of the "920" code will create a distinct three-code structure (6-0-9) among China's stock exchanges, enhancing the BSE's market identity [4]. - Experts indicate that the new code will improve the recognition of BSE-listed companies, facilitating better investor understanding and decision-making [4]. - The transition from New Third Board to BSE will allow companies to establish new trading dynamics and information disclosures, differentiating them from their previous listings [4]. Group 3: Market Performance and Composition - The recognition of new stocks on the BSE has been increasing, with average first-day price changes of 218% in 2024 and 268% in 2025 [5]. - As of April 2025, 58.11% of BSE-listed companies are classified as specialized, high-tech "little giants," with 69.57% of new listings in 2024 falling into this category [5]. - The code switch is expected to facilitate the transformation of companies from "New Third Board enterprises" to "BSE-listed companies," further driving the reformation of the valuation system [5].

Group 1 - The core point of the article is that the Beijing Stock Exchange (BSE) is officially switching to new securities codes for its existing listed companies starting October 9, 2025, marking a significant adjustment in its market infrastructure [1][3] - The code switch involves 248 existing stocks and is part of a broader strategy to enhance the BSE's independent status as China's third-largest stock exchange [1][2] - The transition to the new "920 code segment" began on November 17, 2023, and was implemented in phases to ensure a smooth transition for investors [1][2] Group 2 - The first stock to use the new "920 code" was Wanda Bearings, which listed on the BSE on April 11, 2025, indicating the operational readiness of the new code segment [2] - A total of six pilot stocks were selected for the initial testing phase, chosen for their high market recognition and the absence of code duplication, ensuring efficient switching [2] - The BSE conducted extensive network testing in April 2025, involving various market participants to ensure seamless participation in the new system [2] Group 3 - The introduction of the "920 code" enhances the identification of BSE-listed companies, making it easier for investors to track and analyze these companies separately from their previous listings on the New Third Board [3] - The BSE has experienced three market cycles since its establishment, with the valuation gap compared to the Shanghai and Shenzhen markets gradually narrowing [4] - As of April 2025, 58.11% of BSE-listed companies are classified as "specialized, refined, distinctive, and innovative" small giants, with a significant portion of new listings in 2024 also falling into this category [5]