【 导读 】 秦安股份拟购买亦高光电99%股权，重组预案公布 中国基金报记者 南深 停牌两周的秦安股份，7月10日晚公布了收购亦高光电的重组预案。 秦安股份停牌前一天股价一度涨停，创出近7年新高。 又见打造"第二增长曲线" 公司 拟通过发行股份及支付现金的方式向饶亦然、深圳亦高、远致星火、西藏华建、珠海亦高、吉城光电、长业亿立、君汇鑫亦、穗满时 时、清显科技、李俊华、尤俊衡共12名交易对方购买其合计持有的亦高光电99%股权，并募集配套资金 。 秦安股份称， 截至预案签署日，标的公司的审计和评估工作尚未完成，本次交易的具体交易价格尚未确定， 但预计不构成重大资产重组 。 记者注意到，从标的公司2024年的净利润数据来看，基本可达到秦安股份的近四成，并购对业绩增厚较为明显。 资料显示，秦安股份 是国内具有一定规模水平的专业汽车轻量化核心零部件供应商，主要从事汽车发动机核心零部件——气缸体、气缸 盖、曲轴；变速器关键零部件——箱体、壳体及混合动力变速器箱体、增程式发动机缸盖及缸体、纯电动车电机壳体等产品的研发、生产 与销售。 亦高光电 是一家专注于高端真空镀膜的国家级高新技术企业、安徽省专精特新企业，为各类显示及泛 ...

尽管目前已有11家债权人签署了《支持函》，但吉哈德·穆罕默德表示，这些函件不符合其格式要求，例如缺少代表人签 字及具体债权比例说明，因此拒绝支付首笔资金。 高合汽车自2024年2月宣布停工，并于同年8月进入司法预重整程序。此次融资变故对其重组进程构成重大挑战。值得注 意的是，尽管资金尚未到位，EV Electra方面已多次对外宣称已完成对高合汽车的收购，并成立了江苏高合汽车有限公 司，试图接管其运营。 高合汽车方面尚未对此事件发表官方声明，仅表示"以官方消息为准"。目前，江苏高合汽车有限公司的印章尚未移交， 原计划中的海外销售订单承诺也面临不确定性。 此次融资变故不仅加剧了高合汽车的财务压力，也引发了外界对其未来发展前景的担忧。业内人士指出，若无法尽快解 决资金问题，高合汽车的重组计划或将被迫搁浅。 近日市场消息称，高合汽车（HiPhi）引入战略投资人EV Electra的计划遭遇重大挫折，EV Electra的创始人兼董事长、黎 巴嫩商人吉哈德·穆罕默德（Jihad Mohammad）未能在约定期限内支付投资款项，导致双方谈判陷入停滞。 根据原计划，EV Electra拟向高合汽车投资6亿美元，用于支持其重 ...

Core Viewpoint - The acquisition of 51% equity in Nanbu Yongsheng by Xuefeng Technology marks a strategic move to enhance its position in the civil explosives industry and expand its market presence in Southwest China [1][4]. Group 1: Company Overview - Xuefeng Technology achieved a revenue of 6.101 billion yuan and a net profit of 668 million yuan in 2024, with a net profit of 647 million yuan after deducting non-recurring items [1]. - The company produced 119,500 tons of industrial explosives, including 48,000 tons of packaged explosives and 71,500 tons of mixed explosives, along with 11.48 million electronic detonators [1]. - Xuefeng Technology has a strong commitment to shareholder returns, distributing a total of 643 million yuan in dividends over the past three years [3]. Group 2: Industry Context - The civil explosives industry is characterized by high regulatory barriers and significant operational challenges due to its hazardous nature, with strict oversight from national and provincial authorities [2]. - The "14th Five-Year Plan for the Safety Development of Civil Explosives Industry" encourages the restructuring and integration of enterprises, aiming to create 3-5 large integrated companies with strong industry influence and international competitiveness [2]. - The civil explosives market in Sichuan is robust, ranking fourth in annual explosive production in China, with a market structure dominated by leading enterprises [3]. Group 3: Strategic Implications - The acquisition is seen as a critical step for Xuefeng Technology to deepen its dual business strategy of "civil explosives + energy chemicals" and to establish a strategic foothold in the Southwest market [4]. - The partnership with Nanbu Yongsheng, which has a production capacity of 26,000 tons of explosives, is expected to leverage both companies' strengths in brand recognition, profitability, and operational management [3][4]. - Xuefeng Technology aims to create a synergistic effect from the merger, enhancing its capabilities in the civil explosives sector and contributing to the high-quality development of the industry [4].

2025年6月26日，阿里资产市场化重组与重整创新论坛在杭州阿里巴巴西溪园区举行，本次会议汇聚司 法界、学术界、投资界的泰斗和重组重整领域的巨擘，围绕"数智赋能企业涅槃与价值跃迁"之主题，探 讨企业重组与重整的新趋势、新技术与新生态，凝聚行业力量，共绘未来蓝图。 阿里资产数字投行部总经理闫向荣 闫向荣就高峰论坛进行开幕致辞，他深入阐释数字投行在新时代的变革力量，为与会嘉宾勾勒出"科技 赋能重组重整、数智驱动产业企业"的全新发展图景。他在致辞中指出，数字投行正成为传统投融资服 务与互联网科技深度融合的典范。未来，数字投行将持续以数据为基底，以AI为切入点，助力更多企 业在重组重整中释放新动能，为经济高质量发展注入活力。 上海交通大学凯原法学院特聘教授，上海市法学会破产法研究会会长韩长印 韩教授围绕"庭外重组的法律逻辑与实践难题"发表了深刻见解，呼吁从制度设计层面加快推动庭外重组 法律规则的完善。他同时鼓励管理人和法院在实践中持续探索创新路径，推动庭外重组与正式重整程序 相互衔接、有机融合，共同构建现代化的企业救治体系。 广东财经大学法学院教授、国信信扬律师事务所高级合伙人曾祥生 曾教授就广东省首例高速公路重整案 ...

中国船舶集团旗下两大市值千亿级"旗舰"上市公司重组整合进入关键冲刺阶段。这场总资产超4000亿元 的"世纪合并"，将催生全球规模最大、业务最完备的上市造船巨头——新"中国船舶"，为中国船舶工业 高质量发展注入强劲动能。 此次交易中，双方换股价格经除权除息调整后，中国船舶换股价格为37.59元/股，中国重工为5.032元/ 股，换股比例为1:0.1339，即每股中国重工股票可换得0.1339股中国船舶股票。本次换股吸收合并完成 后，中国重工将终止上市并注销法人资格，中国船舶将承继及承接中国重工的全部资产、负债、业务、 人员、合同及其他一切权利与义务。中国船舶因本次换股吸收合并所发行的A股股票将申请在上交所主 板上市流通。 7月4日上会审核，"南北船"合并取得重要进展 6月27日晚间，中国船舶工业股份有限公司（中国船舶）、中国船舶重工股份有限公司（中国重工）发 布公告称，根据上交所并购重组审核委员会发布的《上海证券交易所并购重组审核委员会2025年第8次 审议会议公告》，上交所并购重组审核委员会定于7月4日召开审议会议，审核中国船舶与中国重工的换 股吸收合并事宜。 中国船舶拟以向中国重工全体股东发行A股股票的方式 ...

Group 1: Key Economic Events - The "Big Beautiful" tax and spending bill is expected to be voted on by the U.S. Senate before July 4, with a recent update passing with a vote of 51 to 49 [3][4] - China's June PMI data is anticipated, with May's manufacturing PMI showing an increase to 49.5, indicating improved manufacturing sentiment [6] - The U.S. is set to release the June non-farm payroll report, with expectations of an increase of 116,000 jobs, down from 139,000 in the previous month [7][8] Group 2: Legislative Changes and Economic Policies - The updated "Big Beautiful" bill includes changes to state and local tax deductions, raising the cap from $10,000 to $40,000 for five years before reverting back, which has drawn mixed reactions [5] - Adjustments to Medicaid funding and stricter requirements for clean energy tax credits are also part of the bill, potentially impacting major renewable energy developers [5] - The bill aims to avoid an August default by raising the debt ceiling significantly, while also cutting funding for the Consumer Financial Protection Bureau [5] Group 3: International Cooperation and Forums - The BRICS summit is scheduled for July 6-7 in Rio de Janeiro, with Brazil taking over the presidency for 2025 [9][10] - The European Central Bank's central bank forum is taking place from June 30 to July 2, focusing on macroeconomic transformation and policy responses [11][12] Group 4: Oil Production and Market Dynamics - OPEC+ has decided to increase production by 411,000 barrels per day starting in July, with expectations for further increases in August [14][15] - There are concerns regarding OPEC+ unity, particularly between Saudi Arabia and Russia, as they navigate market share and production levels [16] Group 5: Corporate Developments - The Shanghai Stock Exchange is set to review the IPO application of He Yuan Biotechnology, marking the first case under the newly restarted fifth set of standards for the Sci-Tech Innovation Board [20][21] - Microsoft is planning significant layoffs in its Xbox division as part of a broader restructuring effort, marking the fourth major round of layoffs in 18 months [22]

据悉，通常意义上的长安汽车全名为"重庆长安汽车股份有限公司"。而此次更名为"辰致汽车科技集团 有限公司"的"中国长安汽车集团有限公司"，是中国兵器装备集团的全资子公司，同时是"重庆长安汽车 股份有限公司"的最大股东，现持股比例为17.99%。 据悉，更名后，"辰致汽车科技集团"将成为新汽车央企旗下以零部件板块业务为核心的集团企业。而在 更名前，"中国长安汽车集团有限公司"旗下已拥有辰致（重庆）轻量化科技有限公司、辰致科技有限公 司、辰致安奇（重庆）循环科技有限公司、辰致（重庆）制动系统有限公司等多家以"辰致"为名的零部 件企业。 兵装集团、长安汽车业务重组示意图观察者网 【文/观察者网 潘昱辰 编辑/高莘】日前，"中国长安汽车集团"更名为"辰致汽车科技集团"引发行业热 议。据悉，此次更名是此前宣布的中国兵器装备集团（下简称"兵装集团"）与长安汽车业务重组的一部 分，更名后的"辰致汽车科技集团"将作为核心零部件业务，与现有的长安汽车整车业务及其他公司一同 并入即将成立的独立汽车央企旗下。 此前于6月5日，兵装集团经国务院批准将其汽车业务分立，分立后的兵装集团股权将注入中国兵器工业 集团（兵工集团），原兵装集团汽 ...

将投中网设为"星标⭐"，第一时间收获最新推送 该交易以战略合作的形式进行，双方将组建一家新的合资企业，其中金佰利将持有 49% 的股份，而 Suzano 将以约 17.3 亿 美元现金收购 51% 的股份，预计将于 2026 年中期完成。 全球第二大纸巾品牌 作为全球最大的纸品制造厂商，金佰利的故事始于 1872 年。 在这一年，四位创始人在美国成立了 Kimberly-Clark 公司，初始资金为初始资金 3 万美元。此后数十年间，金佰利一直作 为造纸厂而存在。 一场重组与关税双重大棒下的交易。 作者丨 张雪 来源丨 投中网 1924 年，美国金佰利公司推出了世界上第一张面巾纸，并命名为 "Kleenex" （舒洁），从此消费者拥有了柔软、舒适、清 洁的面巾纸。 一百年后的今天，这个品牌却被摆在货架上，成为了待价而沽的"弃子"。近日，有消息指出，消费品巨头金佰利接近完成以约 35 亿美元（约 251 亿人民币）的价格向巴西纸浆供应商 Suzano 出售其北美以外的纸巾业务，包括舒洁 (Kleenex) 品牌。 转折发生在第一次世界大战期间，金佰利公司研发了 Cellu-Cotton ，起初被美军用作外科用棉 ...

Company Overview - Xinjiang Baodi Mining Co., Ltd. was established on November 14, 2001, and was transformed into a joint-stock company in 2013. The company is listed on the Shanghai Stock Exchange with the stock code 601121, operating in the black metal mining industry [1][2]. - The company primarily engages in rock mineral testing, mineral development and processing, housing leasing, mining investment, and sales of mineral products and steel, with iron concentrate as its main product [1][2]. Restructuring Transaction - The company plans to acquire 82% of the equity of Xinjiang Congling Energy Co., Ltd. from Congling Industrial Co., Ltd. and an additional 5% from JAAN INVESTMENTS CO.LTD through a combination of issuing shares and cash payments [2][3]. - The total amount of funds raised in this transaction will not exceed 560 million yuan, which is capped at 100% of the transaction price for the asset acquisition [3][4]. Financial Details - The issuance price for the shares is set at 5.1125 yuan per share, with a total of 116,528,117 shares to be issued [2][3]. - The cash payment for the acquisition is 89.375 million yuan, while the share payment amounts to 595.75 million yuan, based on the assessed net asset value of 840.6559 million yuan as of December 31, 2024 [8][9]. Lock-up Period - The shares acquired by Congling Industrial will be subject to a statutory lock-up period of 12 months, during which they cannot be transferred or pledged [2][3]. - Additionally, there is a voluntary lock-up period of 24 months for 10% of the shares acquired, which cannot be transferred or pledged without the company's written consent [3][4]. Financial Reporting Basis - The pro forma financial statements are prepared under the assumption that the restructuring was completed on January 1, 2024, and reflect the company's financial position and operating results as of December 31, 2024 [7][10]. - The financial statements do not include cash flow statements or changes in equity statements, focusing solely on the pro forma financial information related to the restructuring [10][11]. Accounting Policies - The company adheres to the Chinese Accounting Standards, ensuring that the financial statements accurately reflect the financial status and operating results as of December 31, 2024 [11][12]. - The company uses the historical cost method for subsequent measurement of assets and liabilities, with adjustments based on the fair value determined during the asset acquisition [9][10].

Core Viewpoint - The acquisition of Hebei Jinli New Energy Technology Co., Ltd. by Foshan Plastics Technology Co., Ltd. is a significant asset restructuring aimed at enhancing synergy in the polymer film materials sector, particularly in the lithium battery separator business [2][3]. Group 1: Acquisition Details - The acquisition price for 100% equity of Jinli is set at 5.08 billion yuan, with 400 million yuan in cash and the remainder in stock [2]. - The company plans to raise an additional 1 billion yuan to cover cash payments and improve liquidity [2]. - Jinli previously attempted an independent IPO but withdrew due to a downturn in the lithium battery industry [2]. Group 2: Financial Performance - Jinli's net profit attributable to shareholders, excluding non-recurring items, dropped from 296 million yuan in 2022 to 116 million yuan in 2023, indicating a significant decline [3]. - In 2024, despite a 30% revenue increase, Jinli reported a net loss of 118 million yuan, with gross margin decreasing from 37.72% to 21.85% [3]. - The company's debt ratio rose from 52.79% to 64.02%, reflecting increased financial pressure [3]. Group 3: Market Position and Clientele - Jinli's major clients include leading lithium battery manufacturers such as CATL and BYD, with sales to CATL reaching 717 million yuan in 2024, accounting for 27.45% of total sales [4][6]. - The company has a diverse shareholder base, including significant investments from industry players and venture capital [7]. Group 4: Shareholder Dynamics - The acquisition price of 5.08 billion yuan translates to approximately 9.25 yuan per share, which is below the cost for many external shareholders, leading to potential losses [8][10]. - The stock exchange price for the share swap is set at 3.84 yuan, providing a discount compared to Foshan Plastics' current price of around 6.3 yuan, which may help mitigate losses for investors [9].