涨停战场：ST新潮（维权）封单资金居首 从收盘涨停板封单量来看，ST新潮封单量最高，有136.46万手；利欧股份、跨境通分列第二、第三名，封单量分别为83.2万手、40.66万手；天保 基建、步步高（维权）、保税科技、武汉凡谷、海能达等股封单量超过20万手。 从连续涨停天数来看，国光连锁斩获6连板，立方制药、安记食品5连板；天保基建4连板，保税科技、尤夫股份、红墙股份等股3连板。国芳集团 斩获4连板，拉长时间看，该股在12个交易日内收获11板，累计涨幅168.28%。 以封单金额计算，14股封单资金过亿元，规模居前的有ST新潮、仕佳光子、利欧股份、武汉凡谷、海能达，金额依次为4.07亿元、3.47亿元、2.93 亿元、2.64亿元、2.62亿元。 ST新潮目前处于资金竞争性收购之中。4月18日晚间，伊泰B股向ST新潮的全体股东发出的部分要约显示，拟117.92亿元要约收购ST新潮51%股 份，要约收购价格为3.40元/股，此举旨在增强上市公司股权结构稳定性并取得上市公司控制权。 值得注意的是，4月3日，浙江金帝石油拟要约收购ST新潮20%股份，要约收购的价格为3.10元/股。其目的同样是基于母公司金帝控股产业 ...

根据ST新潮4月18日晚公告的要约收购报告书，此次伊泰B股计划收购公司51%的股份，要约收购价格 为3.4元/股，要约收购所需最高资金总额为117.92亿元。而这是在不到一年时间里，继汇能海投新能源 开发有限公司（以下简称"汇能海投"）、浙江金帝石油勘探开发有限公司（以下简称"金帝石油"）后的 第三家拟要约收购ST新潮的公司。 ST新潮公告显示，伊泰B股本次要约收购旨在增强上市公司股权结构稳定性并取得上市公司控制权。截 至目前，伊泰B股已将本次要约收购所需最高资金总额117.92亿元全部存入指定账户作为履约保证金。 公告显示，伊泰B股是以煤炭生产、运输、销售为基础，集铁路与煤化工为一体的大型清洁能源企业， 其直属及控股的机械化煤矿共10座，同时控制铁路3条、参股铁路5条，并建成矿区公路150公里，覆盖 周边主要矿区，形成生产与运输整体化运营。 此前，怀着同样目的的金帝石油提出的要约收购价格为3.10元/股，目标收购股份占ST新潮总股本的 20%，所需最高资金总额达42.16亿元，其中银行贷款融资金额不超过25亿元，剩余为自有资金，资金 均已到位。 金帝石油控股股东金帝联合控股集团有限公司（以下简称"金帝控股" ...

每经记者 彭斐 每经编辑 文多 虽头戴"ST"的帽子，但坐拥海外油气资产的ST新潮（SH600777），已然成为A股的一块香饽饽，在8个月时间内第三次被提出要约收购。 4月18日晚间，ST新潮披露公告称，伊泰B股（SH900948）向公司的全体股东发出收购其所持有的无限售条件流通股的部分要约。预定要约收购股份数量为 34.68亿股，占公司总股本的51%，要约收购价格为3.4元/股。本次要约收购所需最高资金总额为117.92亿元。 《每日经济新闻》记者注意到，这已不是ST新潮首次涉及要约收购事项。2024年8月，北京汇能海投新能源开发有限公司（以下简称"汇能海投"）拟要约收 购ST新潮总股本的46%，近期，浙江金帝石油勘探开发有限公司（以下简称"金帝石油"）拟斥资最高42.16亿元要约收购ST新潮股份。 今年初，一位熟悉ST新潮的资本市场人士曾向《每日经济新闻》记者分析道，在目前管理层的带领下，ST新潮近年有着不错的业绩表现，但因被"ST"带来 的价值低估，加之公司股权高度分散、无实控人的现实，难免成为资本追逐的目标。 来自内蒙古鄂尔多斯的能源巨头，突然向ST新潮发出要约收购。 4月18日晚间，伊泰B股披露，4 ...

Core Viewpoint - The article discusses the competitive bid for ST Xinchao (600777.SH) by Yitai B shares (900948.SH) and Zhejiang Jindi Petroleum Exploration and Development Co., highlighting the implications for ST Xinchao's listing status and ownership structure [1][4][10]. Group 1: Yitai B's Offer - Yitai B shares announced a partial tender offer to acquire control of ST Xinchao, targeting 3.468 billion shares, which represents 51% of ST Xinchao's total share capital, at a price of 3.40 CNY per share, totaling an investment of 11.792 billion CNY [1]. - The tender offer period is set from April 23 to May 22, with a condition that at least 1.904 billion shares (28% of total shares) must be tendered by the end of the offer period [1]. Group 2: Jindi Petroleum's Offer - Zhejiang Jindi Petroleum has also made a competing offer for ST Xinchao, proposing to acquire 1.36 billion shares (20% of total shares) at a price of 3.10 CNY per share, with a maximum funding scale of 4.216 billion CNY [4]. - If both offers are successful, the proportion of non-public shareholders could exceed 90%, potentially violating listing requirements for ST Xinchao [4]. Group 3: ST Xinchao's Business and Market Position - ST Xinchao's main business involves the exploration, development, and sales of oil and gas, with assets located in the Permian Basin of Texas, USA [6]. - The company produces high-quality light crude oil and associated natural gas, primarily sold through long-term agreements with midstream companies [6]. - ST Xinchao has faced challenges such as a dispersed shareholding structure, lack of a controlling shareholder, and a history of penalties, despite having good performance metrics [10].

Core Viewpoint - The Ministry of Finance of the People's Republic of China is acquiring additional shares in Bank of Communications, which will increase its ownership stake to over 30%, thus triggering a mandatory tender offer obligation. However, the Ministry has secured an exemption from this obligation by committing to hold the newly acquired shares for three years and obtaining approval from the bank's shareholders [2][21]. Group 1: Acquisition Details - The Ministry of Finance currently holds 17,732,424,445 shares of Bank of Communications, representing 23.88% of the total shares, making it the largest shareholder. Post-acquisition, the Ministry will hold 30,639,434,777 shares, equating to 34.80% of the total shares, thereby becoming the controlling shareholder [9][21]. - The acquisition involves a cash subscription for A-shares at a price of 8.71 yuan per share, which is not less than 80% of the average trading price over the previous 20 trading days [11][13]. - The total amount to be subscribed by the Ministry is approximately 112.42 billion yuan [13]. Group 2: Regulatory and Approval Process - The transaction has been approved by the board of directors of Bank of Communications and is pending approval from the shareholders' meeting and relevant regulatory authorities [8][7]. - The Ministry of Finance has committed to not transferring the acquired shares for five years, aligning with regulatory requirements to avoid triggering a mandatory tender offer [21][15]. Group 3: Financial and Operational Context - The Ministry of Finance's role includes formulating fiscal policies and managing national financial resources, which underscores its strategic interest in enhancing the capital structure of Bank of Communications [4][6]. - The Ministry has not faced any significant legal or administrative penalties in the past five years, indicating a stable operational background [5][6].

Core Viewpoint - The Ministry of Finance of the People's Republic of China plans to acquire additional shares in Bank of Communications, increasing its stake to over 30%, thereby becoming the controlling shareholder of the bank [1][3][15]. Group 1: Acquisition Details - The Ministry of Finance will subscribe to the issuance of A-shares by Bank of Communications, with a total investment of approximately RMB 112.42 billion [12]. - The subscription price for the shares is set at RMB 8.71 per share, which is not less than 80% of the average trading price over the previous 20 trading days [9][12]. - Following the acquisition, the Ministry of Finance will hold 30,639,434,777 shares, representing 34.80% of the total share capital of Bank of Communications [3][15]. Group 2: Regulatory Compliance - The acquisition requires approval from the shareholders' meeting of Bank of Communications and must comply with relevant laws and regulations, including obtaining consent from the China Securities Regulatory Commission [2][15]. - The Ministry of Finance has committed to not transferring the newly acquired shares for five years after the issuance [3][14]. Group 3: Financial and Operational Impact - The acquisition aims to enhance the capital adequacy of Bank of Communications, thereby strengthening its financial position [16]. - There are currently no plans to change the main business operations or management structure of Bank of Communications following the acquisition [16][19]. Group 4: Shareholding Structure - Prior to the acquisition, the Ministry of Finance held 17,732,424,445 shares, accounting for 23.88% of the total shares, making it the largest shareholder [15][24]. - The acquisition will trigger the obligation for a mandatory tender offer, but the Ministry of Finance can be exempted from this requirement under specific conditions [2][15]. Group 5: Legal and Compliance Statements - The Ministry of Finance has confirmed that there are no criminal or administrative penalties against it in the last five years, and it has not been involved in significant civil litigation related to economic disputes [6][19]. - The report confirms that all necessary disclosures have been made, and there are no undisclosed significant transactions with Bank of Communications [22][20].

Core Viewpoint - The announcement details the approval for the first major shareholder, the Ministry of Finance, to increase its stake in the Bank of Communications without triggering a mandatory tender offer, contingent upon specific conditions [1][2]. Group 1: Shareholder Agreement - The Ministry of Finance currently holds 17,732,424,445 shares, representing over 30% of the total share capital of the Bank of Communications [1]. - The Ministry has committed to not transferring the newly issued shares for five years from the date of acquisition [2]. - The shareholders' meeting has agreed to exempt the Ministry from the obligation to make a tender offer, in accordance with relevant regulations [2]. Group 2: Regulatory Compliance - The exemption from the tender offer is based on Article 63, Clause 1, Item (3) of the Regulations on the Management of Acquisitions of Listed Companies, which allows for such exemptions if the investor commits to a three-year holding period [1]. - The company will adhere to any changes in policies from the China Securities Regulatory Commission or the Shanghai Stock Exchange regarding the exemption from the tender offer [2].

Group 1 - The article discusses the strategic paths from stake acquisition to complete control in listed companies, emphasizing the competitive nature of capital operations as a power game [1][4] - "Stake acquisition" is defined as the act of investors increasing their shareholding in a listed company to 5%, which must be publicly disclosed, signaling long-term intentions but not necessarily aiming for control [1][4] - Successful stake acquisition strategies are based on accurate long-term value assessments rather than mere market speculation [4] Group 2 - Following stake acquisition, investors often pursue further control through continuous shareholding increases or agreement acquisitions, with the latter being more efficient in avoiding market volatility [5] - Examples include Alibaba's acquisition of Intime Retail through a combination of agreement and tender offers, and Microsoft's acquisition of Activision Blizzard via agreement acquisition [5] Group 3 - A tender offer is a more aggressive method for gaining control, requiring significant financial strength and market judgment, as seen in Tencent's acquisition of Douyu and Huya [6] - Successful tender offers require balancing market sentiment, shareholder interests, and regulatory policies to avoid shareholder resistance [6] Group 4 - Complete control is achieved when the acquirer holds over 50% of shares or secures board control, marking the end of the control struggle, but the focus then shifts to resource integration and management optimization [7] - Successful integration examples include Apple's acquisition of Beats, while failed integrations like Daimler-Chrysler serve as cautionary tales [7] Group 5 - The future of control acquisitions is evolving with more complex methods such as leveraged buyouts and SPAC mergers, alongside increasing regulatory scrutiny, especially in sensitive industries [8] - The article prompts discussion on which industries may become hotspots for control acquisitions and the key capital players in the market [8]

辽宁成大生物股份有限公司要约收购报告书 辽宁成大生物股份有限公司 要约收购报告书 | 收购人： | 韶关市高腾企业管理有限公司 | | --- | --- | | 住所： | 乳源县乳城镇鹰峰西路 号 栋 1 A 205D | | 通讯地址： | 广东省广州市天河区珠江东路 30 号广州银行大厦 | | | 楼 58-59 | 签署日期：二零二五年二月 上市公司： 辽宁成大生物股份有限公司 上市地点： 上海证券交易所 股票简称： 成大生物 股票代码： 688739.SH 辽宁成大生物股份有限公司要约收购报告书 特别提示 本部分所述的词语或简称与本报告书释义部分所定义的词语或简称具有相 同的含义。 一、本次要约收购的收购人为韶关高腾。截至本报告书签署日，韶关高腾为 辽宁成大的第一大股东，持股比例为 15.30%。 辽宁成大于 2025 年 2 月 12 日召开第十届董事会第三十三次（临时）会议， 审议董事会换届选举相关议案。根据本次董事会决议公告，辽宁成大新一届董事 会由 9 名董事构成，包括 6 名非独立董事与 3 名独立董事，其中韶关高腾提名 4 名非独立董事，并通过第十届董事会提名委员会资格审查。 辽宁成 ...

上海市锦天城（深圳）律师事务所 | | | 法律意见书 地址：深圳市福田中心区福华三路卓越世纪中心 1 号楼 21/22/23 层 电话：0755-82816698 传真：0755-82816898 | 释 | 义 1 | | --- | --- | | | 声明事项 4 | | 正 | 文 6 | | 一、 | 收购人的基本情况 6 | | 二、 | 要约收购目的 14 | | 三、 | 本次要约收购的方案 15 | | 四、 | 收购资金来源 20 | | 五、 | 后续计划 21 | | 六、 | 对上市公司的影响分析 23 | | 七、 | 与上市公司之间的重大交易 26 | | 八、 | 前六个月内买卖上市交易股份的情况 27 | | 九、 | 参与本次要约收购的专业机构 27 | | 十、 | 《要约收购报告书》的格式与内容 28 | | 十一、 | 结论意见 28 | 关于《辽宁成大生物股份有限公司要约收购报告书》之 上海市锦天城（深圳）律师事务所 法律意见书 释 义 本法律意见书中，除非文义另有所指，下列左栏中的术语或简称对应右栏 中的含义或全称： | 上市公司/公司/成 | 指 | 辽宁成大 ...