长江商报消息 ●长江商报记者 沈右荣 汽车零部件企业天汽模（002510.SZ）控制权转让又生变。 9月25日晚，天汽模公告，终止筹划了一年多的控制权转让事项。天汽模筹划的第三次易主宣告失败。 但天汽模没有放弃，且迅速找到了下家。当晚，公司宣布，公司控股股东、实际控制人胡津生等8人拟合计向新疆 建发梵宇产业投资基金合伙企业（有限合伙）（以下简称"建发梵宇"）转让所持公司约1.62亿股，占公司总股本 的15.94%。本次交易完成后，新疆乌鲁木齐经济技术开发区国资委将成为公司新的实际控制人。 天汽模于2010年在A股上市，近五年来，公司四次筹划易主，这与其业绩增长乏力相关。 早在2011年，天汽模实现的归母净利润就达到1.14亿元，而在2024年，其归母净利润为0.95亿元，不及当年的水 平。2025年上半年，公司营收、净利双降，扣非净利润751.50万元，同比下降幅度超过90%。 无论本次易主成功与否，天汽模都将面临盈利能力提升的考验。 四谋易主或迎国资新主 天汽模的控制权转让生变，但新的控制权转让事项接力上演。 9月25日，天汽模公告，当日，公司收到控股股东、实际控制人（以下简称"控股股东"）的《告知函》，公 ...

此外，公司股票及可转换公司债券自2025年9月29日(星期一)开市起复牌，公司可转换公司债券"冠中转 债"恢复转股。 同日，冠中投资、许剑平、青岛和容投资有限公司(简称"和容投资")、青岛博正投资有限公司(简称"博 正投资")与深蓝财鲸签署了《表决权放弃协议》，约定在上述第一期标的股份转让完成后，冠中投资、 许剑平、和容投资、博正投资拟无条件且不可撤销地放弃其所合计持有的剩余4724.61万股股份(占公司 股份总数的33.74%)所对应的表决权，以协助深蓝财鲸取得公司控制权。 冠中生态（300948）(300948.SZ)公告，于2025年9月26日，冠中投资及公司实际控制人李春林先生、许 剑平女士与杭州深蓝财鲸人工智能科技合伙企业(有限合伙)(简称"深蓝财鲸")签署了《青岛冠中投资集 团有限公司与杭州深蓝财鲸人工智能科技合伙企业(有限合伙)关于青岛冠中生态股份有限公司之股份转 让协议》，约定冠中投资拟分两期合计向深蓝财鲸转让所持有的公司2170.492万股股份，占公司股份总 数的15.50%。 ...

天普股份公告，公司于2025年9月16日召开了控制权转让事项投资者说明会。公告称，收购方中昊芯英 的收购资金9.65亿元和方东晖的7.64亿元均已全部到位，但海南芯繁的3.95亿元收购资金中，仍有部分 未实缴，预计在2025年9月19日完成实缴。中昊芯英无资产注入计划，未来12个月内不计划对上市公司 主营业务进行重大调整。公告还强调，若发现内幕交易或操纵市场行为，交易可能终止。公司严格控制 内幕信息知情人管理以防信息泄露。 ...

Core Viewpoint - The transfer of 15% equity in Wuyang Zikong will lead to a change in the controlling shareholder and actual controller, with the new controller being Yao Xiaochun from Gao Wu Zhuoyue [1][3]. Group 1: Share Transfer Details - The agreement for the transfer of shares was signed on September 10, with a total transaction value of 675 million yuan, translating to an approximate price of 4.03 yuan per share [3]. - The share transfer involves 8.44% of the total equity from Hou Youfu and 6.56% from Cai Min, resulting in Gao Wu Zhuoyue holding 15% of Wuyang Zikong post-transaction [3][4]. Group 2: Gao Wu Zhuoyue Background - Gao Wu Zhuoyue was established on August 9, 2024, with a registered capital of 552 million yuan, focusing on intelligent robotics, automotive parts, and industrial control systems [3][4]. - The funding for the acquisition includes 337.5 million yuan from Guangdong Zhongtai Industrial Technology Co., Ltd., and a bank project acquisition loan with a financing ratio not exceeding 60% of the transaction price [3][4]. Group 3: Board Restructuring and Future Plans - Following the share transfer, Wuyang Zikong will undergo a board restructuring, with a new board consisting of 9 members, including at least 4 nominated by Gao Wu Zhuoyue [4]. - Gao Wu Zhuoyue aims to leverage its control to enhance Wuyang Zikong's business development and profitability, with no immediate plans to alter the main business operations or conduct significant asset restructuring within the next 12 months [4][5].

对于此次权益变动目的，高梧卓越表示，基于对五洋自控内在价值的认可，希望通过获得公司控制权，利用自身优势为五洋自控业务发展赋能，提升公司 盈利能力与抗风险能力，为全体股东创造更好回报。截至公告签署日，高梧卓越暂无未来12个月内改变五洋自控主营业务、进行重大资产重组、调整员工 聘用计划及分红政策的明确计划。 侯友夫、蔡敏则称，本次减持主要出于自身资金需求及资本规划，未来12个月内不排除进一步增减五洋自控股份的可能，若发生相关权益变动，将按规定 履行信息披露义务。 （文章来源：证券时报网） 根据公告，侯友夫与蔡敏于9月10日与高梧卓越正式签署《关于江苏五洋自控技术股份有限公司之控制权转让协议》，拟转让的股份为二人持有的五洋自 控15%股权。其中，侯友夫转让占总股本8.44%，蔡敏转让占总股本6.56%。本次交易总价款为6.75亿元，每股转让价格约4.03元。 权益变动后，高梧卓越将持有15%股份。交易完成后，五洋自控控股股东将由侯友夫、蔡敏变更为高梧卓越，实际控制人将变更为高梧卓越执行事务合伙 人姚小春。 受让方高梧卓越成立于2024年8月9日，注册资本5.52亿元，注册地址位于深圳市南山区，经营范围涵盖智能机器人 ...

Core Viewpoint - The company has decided to waive the voluntary shareholding commitment of its directors and senior management, which is expected to facilitate the smooth implementation of the control transfer transaction and enhance the company's future operational development [1][2]. Group 1 - The sixth session of the Supervisory Board held its 11th temporary meeting on September 1, 2025, where the decision regarding the waiver was made [1]. - The Supervisory Board concluded that the waiver will not adversely affect the company's ongoing operations or harm the legitimate rights and interests of the company and minority shareholders [1]. - The waiver is in compliance with relevant laws and regulations, including the Company Law and Securities Law, and is seen as beneficial for the company's business development and sustainability [1]. Group 2 - The voting result for the waiver proposal was 3 votes in favor, with no votes against or abstentions [2]. - The proposal will be submitted for approval at the company's shareholders' meeting [2].

Core Viewpoint - The stock price of Xiling Information (300588.SZ) dropped significantly by 12.45% to 19.48 CNY per share following the announcement of an investigation into the company's general manager, Yue Yamei, by the Alashankou Municipal Supervisory Committee [1] Group 1: Company Announcement and Management Changes - Xiling Information announced that its general manager, Yue Yamei, is under investigation, but other board members and senior management are functioning normally, and the company's internal control mechanisms are intact [1] - During this period, the chairman, He Yue, will assume all responsibilities of the general manager [1] Group 2: Share Transfer and Ownership Changes - On July 25, Xiling Information disclosed plans for the controlling shareholders, He Kaiwen and Yue Yamei, to transfer a total of 47.979 million shares (25.06% of total shares) to Shanghai Shengxun and Shanghai Jinzhongyi [1] - The share transfer includes 19% (36.38 million shares) from He Kaiwen and 6.06% (1.1599 million shares) from both He Kaiwen and Yue Yamei, with a total transaction value of 720 million CNY at a price of 15.02 CNY per share [2] Group 3: Financial Performance - In Q1 2025, Xiling Information reported revenue of 43.4791 million CNY, a year-on-year increase of 50.99%, but a net loss attributable to shareholders of 15.0183 million CNY, slightly worsening from the previous year's loss [4] - The 2024 annual report indicated revenue of 163 million CNY, a 2.3% increase, but a net loss expanded from 40.15 million CNY to 60.55 million CNY, with cash flow also declining significantly [4] - The company attributed its financial struggles to macroeconomic fluctuations, changes in the industry market environment, and reduced investment budgets from key government clients, affecting project bidding progress [4]

Core Viewpoint - Kewah Holdings (603161.SH) is undergoing a potential change in control as its major shareholder and actual controller are planning to transfer shares, which may lead to a change in actual control. The stock was suspended from trading starting August 18, following a significant price increase prior to the announcement [1][2]. Group 1: Share Transfer and Control Changes - Kewah Holdings has faced multiple failed attempts at control transfer since 2022, with the Chen family planning to transfer control but encountering various setbacks [2]. - In July 2022, an agreement was made to transfer 12% of shares to Chen Wei, which would have made him the actual controller, but the deal fell through due to regulatory issues [2][3]. - Following two failed attempts at control transfer, Kewah Holdings announced on August 25, 2023, another attempt, which was later terminated, leaving Shanghai Jingyou as a significant shareholder without control [4][5]. Group 2: Financial Performance - Kewah Holdings has experienced significant fluctuations in financial performance, with net profit declining from 2018 to 2021, including a loss of 46.76 million yuan in 2021 due to various operational challenges [7]. - The company saw a recovery in 2022 and reached new highs in 2023, but financial performance began to decline again in 2024, with revenue dropping by 9.28% year-on-year to 2.372 billion yuan and net profit decreasing by 14.71% [8]. - In the first quarter of 2025, Kewah Holdings reported a revenue of 526 million yuan, down 15.17% year-on-year, and a net profit of 25.61 million yuan, down 40.82% [8]. Group 3: Shareholder Structure - As of April 15, 2025, the major shareholders include Chen Hongmin (20.11%), Shanghai Jingyou (11.21%), and Zhang Yu (8.27%), with Chen Wei's remaining shares frozen, reducing his stake to 3.47% [4][6]. - Shanghai Jingyou, which entered the company in December 2022, has faced a paper loss of approximately 15.57 million yuan on its investment due to the decline in stock value since its acquisition [6][8]. Group 4: Strategic Developments - Kewah Holdings is expanding internationally, having established a wholly-owned subsidiary in Thailand with an investment of up to 16 million USD to enhance its overseas market presence [9].

Core Viewpoint - Kewah Holdings' actual controller is planning to transfer company shares, which may lead to a change in control. The stock price surged prior to the announcement, reaching a market value of 2.939 billion yuan [2][4]. Group 1: Share Transfer Announcement - On August 15, Kewah Holdings announced that its controlling shareholder, Chen Hongmin, is planning a share transfer, potentially leading to a change in control [2]. - The stock will be suspended from trading starting August 18, with an expected suspension period of no more than two trading days [2]. - This marks the third time since its listing in 2018 that Kewah Holdings has planned a change in control, with previous attempts in 2022 and 2023 that were unsuccessful [4]. Group 2: Stock Performance - Prior to the announcement, Kewah Holdings' stock price increased significantly, hitting the daily limit up, with a latest market value of 2.939 billion yuan [4]. - As of August 15, the stock price was 15.12 yuan, reflecting a 6.86% increase, with a trading volume of 3.94 million shares [6]. Group 3: Historical Context of Control Changes - Since 2022, Chen Hongmin has repeatedly attempted to transfer control, with a notable attempt in July 2022 involving a proposed transfer to Chen Wei, which ultimately failed due to regulatory issues [11]. - In 2023, another attempt to transfer control to Shanghai Jingyou New Energy was also unsuccessful, leading to a partial share transfer of 11.45% instead [13]. Group 4: Company Performance - Kewah Holdings has experienced fluctuating performance since its listing, with net profits declining from 2018 to 2021, including a loss of 46.76 million yuan in 2021 [17]. - The company reported a recovery starting in 2022, achieving record highs in 2023 due to new product launches, particularly in the new energy sector [17]. - However, in 2024, the company faced a decline in revenue of 9.28% to 2.372 billion yuan and a net profit drop of 14.71% to 105 million yuan [18]. - In the first quarter of 2025, Kewah Holdings reported a revenue of 526 million yuan, down 15.17%, and a net profit of 25.61 million yuan, down 40.82% [19].

Core Viewpoint - Hehua Co., Ltd. (河化股份) is facing a potential change in control as its major shareholder, Ningbo Yinyi Holdings (银亿控股), is planning to transfer its equity, which may lead to a change in the company's controlling shareholder and actual controller [1][3][5]. Group 1: Company Background and Current Situation - Hehua Co., Ltd. was originally focused on urea and agricultural chemicals, but in 2020, it expanded into the pharmaceutical intermediate sector, creating a dual business model [1]. - The current actual controller, Xiong Xuqiang, acquired control of Hehua Co. in 2016 through Yinyi Holdings, but the company's performance has been poor, with a cumulative net loss of 440 million yuan from 2016 to 2024 [1][13]. - The stock of Hehua Co. was suspended from trading on July 31, 2023, due to the announcement of the potential equity transfer [4]. Group 2: Financial Performance - From 2016 to 2024, Hehua Co. reported fluctuating revenues, with total revenues of 39.8 million yuan in 2016 and only 21.2 million yuan in 2024, indicating a downward trend [13]. - The net profit attributable to shareholders has been negative for most years during this period, with a total cumulative loss of 440 million yuan [13]. - In the first quarter of 2025, the net profit increased by 217.42% year-on-year, but this amounted to only 1.36 million yuan, highlighting ongoing financial struggles [14]. Group 3: Shareholder Dynamics - Yinyi Holdings currently holds 87 million shares of Hehua Co., accounting for 23.76% of the total shares, all of which are pledged [5]. - The major shareholders have frequently reduced their holdings, with the original controlling shareholder, Hehua Group, decreasing its stake from 60.26% at the time of listing to 12.75% by 2025 [10][12]. - There are no fund companies among the top ten shareholders, indicating a lack of institutional interest in Hehua Co. [2][12]. Group 4: Market Reaction and Speculation - The stock price of Hehua Co. surged from 2.23 yuan to 8.02 yuan per share since late June 2024, representing a cumulative increase of 160% [8]. - The sudden stock price increase prior to the announcement of the control transfer has raised questions about potential leaks of information [4][8].