格隆汇11月27日丨达丰设备(02153.HK)公告，2025/26中期业绩，集团的收益为人民币3.01亿元(2024 年：3.4亿元)。截至2025年9月30日，集团管理的塔式起重机总数为1135台。于2025年9月30日，集团有 331个在建项目，未完成合同总价值约为人民币6.66亿元，手头项目共有58个，预计合同总价值约为人 民币2.84亿元。 为积极应对国内市场需求疲软与行业竞争加剧的挑战，集团正持续推进业务结构优化与市场多元化布 局。战略上，一方面继续降低国内房地产板块的业务占比，转而加大对火电、核电及风电等清洁能源领 域的布局，并依托在中大型塔机领域的专业优势，重点拓展施工周期长、技术门槛高的核岛与大型能源 项目；另一方面，集团加速开拓境外市场，通过在印尼成立的合资子公司、布局大湾区及香港子公司等 一系列举措，积极构建国内外双线驱动的业务格局。 期内，虽然有多个中标项目延迟开工，但集团持续投入管理平台的数字化建设及塔式起重机新技术解决 方案的研发。集团相信，雄厚的技术实力将继续使集团能够提高运营效率并获得更多项目，而塔式起重 机技术解决方案研发能力的提升，将进一步巩固集团卓越的服务交付水平。 ...

新宏泰公告称，公司通过公开挂牌方式转让子公司厦门联容16.06%股权（对应注册资本186.68万元）。 近日，由吴怡芳、陈吉文等组成的联合受让方按1076.4万元挂牌价摘牌，双方已签《产权交易合同》。 本次交易不构成关联交易和重大资产重组，完成后公司不再控制厦门联容，其将不再纳入合并报表范 围。此次转让利于公司优化业务结构、聚焦主业。 ...

证券日报网讯顺网科技（300113）11月17日在互动平台回答投资者提问时表示，公司第三季度营业收入 下降主要系报告期内公司优化业务结构所致，主要为互联网增值业务中毛利较低的业务减少。 ...

Core Insights - The brokerage asset management business is accelerating its return to active management fundamentals, with a notable increase in the scale of private asset management products [1][2] Group 1: Asset Management Scale and Growth - As of the end of September, the scale of brokerage private asset management products reached 5.73 trillion yuan, an increase of approximately 2687.33 billion yuan since the beginning of the year, reflecting a growth rate of 4.92% [2] - The scale of actively managed collective asset management plans rose to 31,957.89 billion yuan, with an increase of 3004.97 billion yuan, representing a growth rate of 10.38% and accounting for 55.73% of the total scale of brokerage private asset management [2][3] - In contrast, the scale of single asset management plans, primarily focused on channel business, decreased to 25,386.32 billion yuan, down by 317.63 billion yuan, continuing a downward trend [2] Group 2: Product Supply and Market Trends - The success of the active management transition is validated by new product data, with a total of 3,536.12 billion yuan in newly filed brokerage private asset management products in the first three quarters of the year [2] - Among these, the scale of collective asset management plans accounted for 2,189.76 billion yuan, representing 61.93% of the newly filed products, indicating a dominant position in the market [2] Group 3: Future Outlook and Structural Optimization - Analysts expect that the brokerage asset management business will continue to grow in both scale and revenue, with a stabilization trend anticipated by 2026 [3] - The implementation of asset management regulations has led to a continuous decline in channel-type asset management scale, while the proportion of collective asset management has been steadily increasing, highlighting a clear trend towards active management [3] - Policy support, particularly for small and medium-sized brokerages, is expected to facilitate the development of the asset management business, with new regulations encouraging differentiated development paths [3]

本次股权转让有利于公司优化业务结构，聚焦主业发展，增强公司可持续发展的内生动力，符合公司发 展战略，降低运营成本，避免继续亏损，符合公司和全体股东的利益。若本次股权转让完成，公司将不 再对松炀新材实施控制，松炀新材将不再纳入公司合并财务报表范围。 松炀资源（603863）(603863.SH)发布公告，公司拟通过广东股权交易中心公开挂牌转让全资子公司汕 头市松炀新材料特种纸有限公司(简称"松炀新材")100%的股权，本次公开挂牌转让以中联国际房地产土 地资产评估咨询(广东)有限公司出具的股权评估价值为依据，综合考虑资产市场价值等情况，拟定首次 挂牌转让底价为1亿元人民币。同时公司为了降低运营成本，减少亏损，维护公司及全体股东利益，公 司管理层经过审慎考虑，决定对松炀新材公司实施停产。 ...

本次股权转让有利于公司优化业务结构，聚焦主业发展，增强公司可持续发展的内生动力，符合公司发 展战略，降低运营成本，避免继续亏损，符合公司和全体股东的利益。若本次股权转让完成，公司将不 再对松炀新材实施控制，松炀新材将不再纳入公司合并财务报表范围。 智通财经APP讯，松炀资源(603863.SH)发布公告，公司拟通过广东股权交易中心公开挂牌转让全资子 公司汕头市松炀新材料特种纸有限公司(简称"松炀新材")100%的股权，本次公开挂牌转让以中联国际房 地产土地资产评估咨询(广东)有限公司出具的股权评估价值为依据，综合考虑资产市场价值等情况，拟 定首次挂牌转让底价为1亿元人民币。同时公司为了降低运营成本，减少亏损，维护公司及全体股东利 益，公司管理层经过审慎考虑，决定对松炀新材公司实施停产。 ...

Core Insights - Tiger Tooth Company (NYSE: HUYA) reported third-quarter financial results for the period ending September 30, 2025, showing a total net revenue of 1.6883 billion RMB, a 9.8% increase from 1.5377 billion RMB in the same quarter of 2024 [1] - The net profit attributable to Tiger Tooth was 9.6 million RMB, down from 23.6 million RMB year-over-year, while the non-GAAP net profit was 36.3 million RMB compared to 78 million RMB in the previous year [1] - The company's business structure optimization was highlighted, with the "game-related services, advertising, and other income" segment growing by 29.6% to 531.6 million RMB, surpassing 30% of total revenue for the first time [1] Financial Performance - The average monthly active users (MAU) for the third quarter was 162.3 million [2] - Cost control measures led to a reduction in R&D expenses and sales expenses by 2.8% and 4.4%, respectively [2] - The operational loss significantly narrowed to 14.3 million RMB from 32.3 million RMB in the same quarter last year, with a non-GAAP operational profit of 6.3 million RMB [2] Management Commentary - The management indicated that revenue growth reflects stable live streaming income and contributions from new business segments [2] - Co-CEO and CFO Lei Peng emphasized the results demonstrate the effectiveness of revenue diversification and cost management, aiming to balance growth with profitability quality in the future [2]

证券日报网讯中航重机（600765）11月12日在互动平台回答投资者提问时表示，同行业表现差异源于业 务结构及市场定位不同。中航重机在航空锻铸领域保持技术领先，商用航空与民品业务占比有效提升。 ...

Core Viewpoint - Zhejiang Haizheng Pharmaceutical Co., Ltd. has approved the public transfer of 100% equity of its wholly-owned subsidiary, Zhejiang Pharmaceutical Industry Co., Ltd., to optimize its business structure and focus on core advantages in the pharmaceutical industry [1][2] Group 1 - The board of directors has confirmed that the announcement contains no false records, misleading statements, or significant omissions, and they bear legal responsibility for its authenticity, accuracy, and completeness [1] - The equity of Zhejiang Pharmaceutical Industry Co., Ltd. is assessed at 392.2339 million yuan, with a proposed public listing price of 430 million yuan [1] - The public transfer application for the equity was submitted to Taizhou Property Rights Exchange on November 10, 2025, with the listing period from November 11 to December 8, 2025 [2] Group 2 - The company has provided details for the public transfer on the websites of Zhejiang Property Rights Exchange and Taizhou Property Rights Exchange, and investors can inquire further by phone [2] - There is a potential risk of unsuccessful delisting for the public transfer of the equity, and the company will fulfill its information disclosure obligations based on the progress of this matter [2] - The designated media for information disclosure includes China Securities Journal, Shanghai Securities Journal, Securities Times, and the Shanghai Stock Exchange website [2]

Core Viewpoint - The company has decided to publicly transfer 100% equity of its wholly-owned subsidiary, Zhejiang Provincial Pharmaceutical Industry Co., Ltd., to optimize its business structure and focus on core advantages in the pharmaceutical industry, aiming to enhance overall profit margins and resource allocation efficiency [1] Summary by Relevant Sections - **Equity Transfer Announcement** - On November 11, 2025, the company announced the decision to transfer 100% equity of its subsidiary through a public listing [1] - The assessed value of the subsidiary's equity is 392.2339 million, with a proposed public listing base price of 430 million [1] - The application for the equity transfer was submitted to the Taizhou Property Rights Exchange on November 10, 2025, with the official listing period from November 11, 2025, to December 8, 2025 [1]