2025 年 05 月 16 日 工业硅：弱势基本面依旧，盘面具备下行驱动 多晶硅：下游继续跌价，盘面弱势 张 航 投资咨询从业资格号：Z0018008 zhanghang2@gtht.com 【基本面跟踪】 工业硅、多晶硅基本面数据 | | | 指标名称 | T | T-1 | T-5 | T-22 | | --- | --- | --- | --- | --- | --- | --- | | | | Si2506收盘价（元/吨） | 8,410 | -80 | 95 | -1,145 | | | | Si2506成交量（手） | 209,778 | -172,858 | -187,080 | 52,987 | | | | Si2506持仓量（手） | 124,014 | -22,511 | -57,097 | -18,844 | | | 工业硅、多晶硅期货市场 | PS2506收盘价（元/吨） | 37,920 | -500 | 970 | - | | | | PS2506成交量（手） | 136,753 | -99,329 | -318,288 | - | | | | PS2506持仓量（手） | 37 ...

Core Viewpoint - The document outlines the legal opinions regarding the major asset swap and share issuance for the State Power Investment Corporation's subsidiary, emphasizing the legality and compliance of the transaction with existing laws and regulations [1][4]. Group 1: Transaction Overview - The transaction involves a major asset swap and issuance of shares to acquire assets, which constitutes a related party transaction and a significant asset restructuring but does not qualify as a restructuring listing [4][5]. - The transaction plan has not changed since the issuance of the initial legal opinion [4][5]. Group 2: Approvals and Authorizations - New approvals obtained since the initial legal opinion include consent for the asset restructuring and financing plan [5]. - The transaction still requires approval from the shareholders' meeting, Shenzhen Stock Exchange, and the China Securities Regulatory Commission [5]. Group 3: Qualifications of Parties Involved - The company involved, State Power Investment Corporation, has maintained its qualifications to participate in the transaction, with no changes in its basic situation since the last legal opinion [6]. - The counterparties, including State Nuclear Power and China Life, also retain their qualifications to engage in the transaction [6]. Group 4: Substantive Conditions of the Transaction - The transaction complies with the relevant provisions of the restructuring management regulations and has passed the antitrust review without further examination [7]. - The company has not received any adverse audit opinions in the past year, affirming its financial stability [7]. Group 5: Related Agreements - No new agreements have been signed regarding the transaction since the issuance of the initial legal opinion [8]. Group 6: Assets Involved - The assets being divested include 100% equity of Capital Holdings, which has not undergone any changes in its basic situation since the last legal opinion [8][9]. - The assets being acquired include 100% equity of State Nuclear Power, which also remains unchanged in its basic situation [12][13]. Group 7: Financial and Legal Compliance - The company and its subsidiaries have obtained all necessary business qualifications and licenses, which are valid and effective [14][18]. - There are no significant debts or tax issues reported for the company or its subsidiaries during the reporting period [19].

Group 1 - The company plans to acquire 100% equity of Guodian Power Nuclear Co., Ltd. through asset replacement and share issuance, while divesting 100% equity of State Power Investment Group Capital Holdings Co., Ltd. and raising supporting funds [1][2] - The independent directors of the company reviewed the transaction proposals during the third special meeting of 2025, confirming compliance with relevant laws and regulations [1] - The audit reference date for the transaction has been updated to December 31, 2024, in accordance with securities regulatory requirements [1] Group 2 - The company has engaged a qualified accounting firm to conduct extended audits of the divested and acquired assets, and the related financial reports have been reviewed and comply with legal requirements [1] - Asset evaluation reports for both divested and acquired assets have been issued by Beijing Zhongqi Hua Asset Appraisal Co., Ltd. and have been filed with the State-owned Assets Supervision and Administration Commission [1] - The revisions and updates to the draft report on major asset replacement and share issuance are in accordance with the Company Law, Securities Law, and other relevant regulations, confirming the operability of the transaction plan [2]

Group 1 - The company plans to acquire 100% equity of Guodian Power Nuclear Co., Ltd. through asset swap and share issuance, while divesting 100% equity of State Power Investment Group Capital Holdings Co., Ltd. and raising supporting funds [1][2] - The company has taken necessary confidentiality measures to limit the dissemination of sensitive information and has announced a trading suspension starting from September 30, 2024, expected to last no more than 10 trading days [1] - The board of directors has confirmed that all necessary legal procedures for the transaction have been completed in accordance with relevant laws and regulations, ensuring the legality and effectiveness of the process [2][3] Group 2 - The board has ensured that all legal documents submitted for the transaction do not contain any false records, misleading statements, or significant omissions, and they bear legal responsibility for the authenticity, accuracy, and completeness of these documents [2][3] - The transaction is classified as a related party transaction, and related directors have abstained from voting [2]

Group 1 - The company *ST Yushun (002289.SZ) is planning a major asset restructuring, which requires necessary decision-making procedures and carries the risk of not passing the relevant approval processes [1] - There is uncertainty regarding the signing of the formal agreement related to the asset restructuring [1] - The company's stock price fluctuations and current static valuation indicators, such as price-to-earnings ratio and price-to-book ratio, show significant deviation compared to comparable companies in the same industry [1]

Group 1 - The company is planning a significant asset acquisition to strengthen its product, engineering, and service capabilities in the inspection and testing services and specialty engineering contracting sectors [1][2] - The company signed a letter of intent on April 16, 2025, to acquire 100% equity of Shanghai Lanya Petrochemical Equipment Testing Co., Ltd. and 51% equity of China Air Separation Engineering Co., Ltd. from China Pudong [1][2] - The funding for this acquisition will primarily come from the company's own or self-raised funds, and the transaction will not involve issuing new shares or changing the company's control [1][2] Group 2 - As of April 17, 2025, the company has disclosed a preliminary announcement regarding the asset acquisition and is actively progressing with the restructuring work, including hiring intermediary institutions for due diligence and evaluation [2] - The transaction is expected to be classified as a significant asset restructuring under the relevant regulations but will not constitute a restructuring listing [2]

Group 1: Investor Relations Activities - The investor relations activity was an earnings briefing held on May 15, 2025, via an online platform [1] - Key participants included the CFO Liu Zengwei and Board Secretary Li Weigang [1] Group 2: Business Development and Strategic Initiatives - The company is actively pursuing strategic investments to enhance core competitiveness and product quality, with a focus on integrating resources for sustainable development [2] - Specific revenue growth measures include strengthening technological innovation, upgrading traditional products, and expanding into new markets such as energy storage and hydrogen energy [3] Group 3: Asset Restructuring and Financial Performance - The company is in the process of a significant asset restructuring involving the sale of 100% equity in Hangzhou Saishi Garden Group, which is complex and ongoing [4] - The company has not yet received a conclusive opinion from the China Securities Regulatory Commission regarding an ongoing investigation, and will disclose any significant developments as required [4] Group 4: Product and Market Insights - The company provides various products for military vehicles, but these account for a relatively low percentage of overall revenue, minimizing impact on financial performance [4] - The company has no current plans to further develop its wine business, which has not been industrialized [4]

根据中国证券登记结算有限责任公司深圳分公司出具的《信息披露义务人持 股及股份变更查询证明》《股东股份变更明细清单》、相关主体出具的自查报告 及承诺等文件，自查期间内相关主体对上市公司股票的买入、卖出行为与本次交 易无关联，不存在利用本次交易内幕信息从事证券交易的行为；除上述情况外， 自查范围内其他相关主体在自查期间均不存在买卖上市公司股票的情形。 证券代码：300765 证券简称：新诺威 公告编号：2025-048 石药创新制药股份有限公司 关于终止发行股份及支付现金购买资产并募集配套资金暨 关联交易事项相关主体买卖股票情况的自查报告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 特别提示： 石药创新制药股份有限公司（以下简称"石药创新"、"公司"或"上市公司"） 于 2025 年 4 月 28 日召开第六届董事会第二十四次会议、第六届监事会第十九次 会议，审议通过了《关于终止发行股份及支付现金购买资产并募集配套资金暨关 联交易事项并撤回申请文件的议案》，同意公司终止发行股份及支付现金购买资 产并募集配套资金暨关联交易事项（以下简称"本次交易"或"本次重组" ...

每经评论员 杜宇 笔者认为，ST联合应详细披露重组计划的具体细节，包括资金来源、整合方案、业绩承诺与补偿机 制、提供详细的决策流程和人员信息，以便公众和监管机构能够清楚地了解到决策的全过程，澄清市场 疑虑。此外，公司还需向投资者充分说明此次重组对改善公司业绩、提升市场竞争力的具体作用，避免 投资者因信息不对称而产生不必要的恐慌或盲目跟风。 5月14日晚间，ST联合（SH600358，前收盘价4.73元，市值：23.88亿元）发布公告称，公司筹划以发行 股份及支付现金的方式购买江西润田实业股份有限公司（以下简称润田实业）部分或全部股权并募集配 套资金，预计构成重大资产重组和关联交易。然而，就在公告发布的当天，ST联合股价提前涨停，这 一异常表现引发了市场对内幕交易的强烈质疑。 根据相关规定，上市公司在发布重要公告之前，应当严格保密，避免信息泄露。然而，ST联合在5月14 日收盘时股价涨幅达5.11%，而公司是晚间才发公告宣布谋划重大资产重组，某些人的先知先觉，引发 了市场对内幕交易的质疑。 值得注意的是，ST联合近年来的业绩表现不佳，2023年至2025年第一季度归母净利润持续亏损，分别 为-1696.05万元 ...

登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码： 000612 证券简称：焦作万方 公告编号：2025-042 焦作万方铝业股份有限公司关于参加河南辖区上市公司2025年投资者网上集体接待日活动的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导性陈述或重大遗 漏。 为进一步加强与投资者的互动交流，焦作万方铝业股份有限公司（以下简称"公司"）定于2025年5月22 日（周四）15:25-16:55参加在全景网举办的河南辖区上市公司2025年投资者网上集体接待日活动，本次 活动将采用网络远程的方式举行，投资者可登录"全景·路演天下"（http://rs.p5w.net）参与本次互动交 流。 出席本次网上集体接待日活动的人员有：公司总经理谢军先生、副总经理兼财务总监焦纪芳女士、副总 经理兼董事会秘书吴永锭女士及相关工作人员（如有特殊情况，参会人员将可能进行调整），欢迎广大 投资者积极参与。 特此公告。 焦作万方铝业股份有限公司董事会 2025年5月15日 证券代码：000612 证券简称：焦作万方 公告编号：2025-041 焦作万方铝业股份有限公司 关于发行股份购买资 ...