公众号记得加星标⭐️，第一时间看推送不会错过。 在半导体世界里，有的公司靠技术立业，有的靠专利吃饭，而高通，则是在拥有这两个的基础上，通 过有的放矢的"买买买"，打造出了一个芯片帝国。 如今的高通，是一个横跨手机、汽车、物联网、AI边缘计算的芯片巨头，但你可能不知道，这个帝国 的地基，是一个个被悄然吞下的技术团队与资产，用时间和耐心打磨而成。 GPU：从ATI的余晖中崛起的Adreno 2006年的移动设备图形处理能力堪称"原始"。彼时的智能手机概念尚未普及，BlackBerry和Palm Pilot还在市场上占据主导地位，而iPhone的发布还要等到2007年。在这个移动图形处理"能跑贪吃蛇 就行"的年代，绝大多数设备制造商对GPU的需求极其有限，更多关注的是基本的2D界面渲染和简单 的多媒体播放功能。 然而，正是在这样一个看似平静的时期，一场影响深远的技术收购正在酝酿。AMD为了在与英特尔 的竞争中获得图形处理优势，决定以54亿美元的天价收购ATI Technologies。这笔交易不仅改变了 PC图形卡市场的格局，也意外地为移动图形处理领域埋下了一颗重要的种子。 在AMD-ATI并购案中，AMD的主要目 ...

公众号记得加星标⭐️，第一时间看推送不会错过。 2006年的移动设备图形处理能力堪称"原始"。彼时的智能手机概念尚未普及，BlackBerry和Palm Pilot还在市场上占据主导地位，而iPhone的发布还要等到2007年。在这个移动图形处理"能跑贪吃蛇 就行"的年代，绝大多数设备制造商对GPU的需求极其有限，更多关注的是基本的2D界面渲染和简单 的多媒体播放功能。 然而，正是在这样一个看似平静的时期，一场影响深远的技术收购正在酝酿。AMD为了在与英特尔 的竞争中获得图形处理优势，决定以54亿美元的天价收购ATI Technologies。这笔交易不仅改变了 PC图形卡市场的格局，也意外地为移动图形处理领域埋下了一颗重要的种子。 在AMD-ATI并购案中，AMD的主要目标是ATI的桌面和服务器GPU业务，而ATI的移动图形部门在 当时被视为"边角料"。这个部门虽然技术实力不俗，但市场前景在当时看来并不明朗。移动设备的图 形需求有限，整个行业对移动GPU的发展潜力普遍缺乏信心。 然而，高通展现出了超前的战略眼光。这家以通信芯片起家的公司敏锐地察觉到，随着移动设备功能 的不断丰富，图形处理能力将成为未来移动平 ...

央视网消息：国家粮食和物资储备局6月13日发布的数据显示：截至目前，全国收购夏粮小麦超1700万吨，进度快于上年同期。 服务细致 让农民卖好"舒心粮" 夏粮收购大忙时节，服务是否能跟得上，来看记者的观察。 夏粮是全年粮食生产第一季，新季夏粮收购量将达到8500多万吨，保持近年来较高水平。国家粮食和物资储备局在主产区的调度显示，从收购看，各地 收购仓容、资金、人员等方面准备充分；从加工看，今年新麦普遍质量好，蛋白、面筋含量高，品质普遍好于上年，为保障市场供应奠定坚实基础。 在安徽省太和县赵庙镇粮食专业合作社，这里的烘干塔24小时不停运转。在当地政府的支持下，邮储银行和收储主体开展"银企直连"合作，合作社新增 的智能粮仓可多收纳1500吨小麦，烘干塔每天的处理量上百吨，粮食霉变损耗率也大大降低。 在江苏盐城阜宁，新研发的江苏地方储备粮管理云服务系统开始应用，"粮食云"上新服务。记者在这个数字大屏看到，入仓后的粮食温度、湿度实时变 化都可以在线监测。 今年我国继续在主产区实行小麦、稻谷最低收购价政策。目前，中储粮在河南首批准备最低收购价库点236个，基本覆盖所有小麦主产县，方便农民就 近快捷售粮。国家粮食和物资储备 ...

智通财经APP获悉，消费者债务收购与催收公司Jefferson Capital在其首次公开募股(IPO)中的发行价预计 将在每股15-17美元之间。若定价达到区间上限，该公司整体估值将达到约11亿美元。该公司目前的流 通股总计为6480万股。该公司计划在纳斯达克上市，股票代码为"JCAP"。 据悉，在此次IPO中，Jefferson Capital将发行62.5万股股份，而现有股东将出售937.5万股。据该公司提 交给美国证券交易委员会(SEC)的文件显示，大股东J.C. Flowers将出售776万股，Canaccede关联实体将 出售161万股。如果全部行使超额配股权，首席执行官David Burton将出售424,296股。 此外，若定价处于区间上限，Jefferson Capital将获得约1060万美元的净收益;若按区间中值定价，该公 司预计将获得370万美元的净收益。该公司计划使用约370万美元用于偿还其循环信贷额度下任何未偿还 的借款，剩余资金将用于一般公司用途。 资料显示，Jefferson Capital是领先的以数据分析为驱动的、专注于收购和管理已核销和破产消费者账户 的公司，业务主要覆盖 ...

Core Viewpoint - The company "孩子王" announced a strategic acquisition of 100% equity in "丝域实业" for 1.65 billion yuan, aiming to enhance its market position and operational capabilities in the personal care industry [1][4]. Acquisition Details - The acquisition involves two main steps: "孩子王" will acquire 65% of "江苏星丝域" from its controlling shareholder, while other investors will acquire smaller stakes [4]. - The total cash consideration for the acquisition of "丝域实业" is set at 1.65 billion yuan, with "孩子王" indirectly holding 65% of "丝域实业" post-transaction [5][9]. Financial Performance of "丝域实业" - "丝域实业" reported revenues of 619 million yuan, 689 million yuan, and 723 million yuan for the years 2022, 2023, and 2024 respectively, with net profits of 158 million yuan, 186 million yuan, and 183 million yuan during the same period [7]. - In Q1 2025, "丝域实业" achieved a revenue of 144 million yuan and a net profit of approximately 26.64 million yuan [7]. Strategic Investor - The acquisition introduces "巨子生物" as a strategic investor, which specializes in bioactive ingredients for skin care products, potentially enhancing "丝域实业's" R&D capabilities and product ecosystem [5]. No Performance Guarantees - The acquisition does not include performance guarantees, as "丝域实业" is considered to have a strong financial position and growth potential, with multiple bidders indicating a competitive interest [8][9]. Fund Allocation - "孩子王" plans to allocate 429 million yuan from its convertible bond fundraising to finance the acquisition, with a total investment of 1.65 billion yuan for the project [9][11]. Future Development Plans - Post-acquisition, "孩子王" aims to leverage synergies in member operations, market layout, channel sharing, and industry collaboration with "丝域实业" [11]. - The company is also exploring cross-industry growth opportunities, including a recent acquisition of 60% of "上海幸研生物科技有限公司" for 162 million yuan, marking a step in its "three expansions" strategy [12][14]. Financial Performance of "孩子王" - In 2024, "孩子王" reported revenues of 9.337 billion yuan, a year-on-year increase of 6.68%, with a net profit of 181 million yuan, reflecting a significant growth of 72.44% [14].

北大街 8 号华润大厦 20 层 邮编：100005 电话： (86-10) 8519-1300 传真： (86-10) 8519-1350 北京市君合律师事务所 关于 中国电力国际发展有限公司及其一致行动人 免于发出要约事宜 之 法律意见书 二零二五年六月 北京总部 电话: (86-10) 8519-1300 上海分所 电话: (86-21) 5298-5488 广州分所 电话: (86-20) 2805-9088 深圳分所 电话: (86-755) 2939-5288 传真: (86-10) 8519-1350 传真: (86-21) 5298-5492 传真: (86-20) 2805- 9099 传真: (86-755) 2939-5289 杭州分所 电话: (86-571) 2689-8188 成都分所 电话: (86-28) 6739-8000 西安分所 电话: (86-29) 8550-9666 青岛分所 电话: (86-532) 6869-5000 传真: (86-571) 2689-8199 传真: (86-28) 6739 8001 传真: (86-532) 6869-5010 大连分所 ...

四川发展龙蟒股份有限公司（以下简称"公司"）于 2025 年 2 月 25 日召开 了第七届董事会第八次会议，审议通过了《关于全资子公司南漳龙蟒磷制品有限 责任公司收购天宝动物营养科技股份有限公司 60%股份的议案》，同意公司全资 子公司南漳龙蟒磷制品有限责任公司（以下简称"南漳龙蟒"）以 4.32 亿元收购 周荣超、周吕差、周荣敏、彭启明、楚雄鸿利股权投资合伙企业（有限合伙）、 云南金种子股权投资基金合伙企业（有限合伙）、深圳市创新投资集团有限公司、 成都红土菁科股权投资基金中心（有限合伙）合计持有的天宝动物营养科技股份 有限公司（以下简称"天宝公司"）60%股份。2025 年 3 月 6 日，南漳龙蟒与上 述交易对方签署了《股份转让协议》。3 月底，南漳龙蟒收到国家市场监督管理 总局出具的《经营者集中反垄断审查不实施进一步审查决定书》（反执二审查决 定〔2025〕181 号）。 具体内容详见公司于 2025 年 2 月 26 日、2025 年 3 月 7 日、2025 年 3 月 28 日披露的《关于全资子公司收购天宝动物营养科技股份有限公司 60%股份的公 告》（公告编号：2025-017）、《关于全资 ...

Meeting Information - The shareholders' meeting is scheduled for June 30, 2025 [1] - The meeting will be held at the conference room of Beijing Aeronautical Materials Research Institute Co., Ltd [1] - Voting will be conducted through a combination of on-site and online methods [1] Voting Procedures - The online voting system used will be the Shanghai Stock Exchange's shareholder meeting online voting system [2] - Voting will be available from 9:15 AM to 3:00 PM on the day of the meeting [1][2] - Shareholders can vote via the trading system or the internet voting platform [2] Agenda Items - The main agenda item is the proposal regarding the use of raised funds for asset acquisition and related transactions [2] - The proposal has been approved by the company's board and supervisory board [2] - Certain related shareholders are required to abstain from voting [2] Attendance and Registration - Shareholders registered by the close of trading on June 23, 2025, are eligible to attend the meeting [3][4] - Registration for attendance can be done in person or through a proxy [4][5] - The registration period for in-person attendance is from 9:00 AM to 4:00 PM on June 27, 2025 [5] Additional Information - The company will utilize a one-click service for shareholder meeting notifications to enhance participation [4] - Contact information for the company’s securities department is provided for further inquiries [7]

Core Viewpoint - Jiahe Intelligent announced the acquisition of German company beyerdynamic GmbH & Co. KG for an initial price of €12.2 million (approximately RMB 1 billion), aiming to enhance its market presence and operational capabilities in the high-end audio equipment sector [1][4]. Group 1: Acquisition Details - Jiahe International, a wholly-owned subsidiary of Jiahe Intelligent, signed a purchase agreement for all limited partnership interests and shares of BD KG, along with shareholder loans [4]. - The acquisition is subject to the completion of auditing and evaluation of the target company, as well as approval from domestic regulatory authorities for foreign investment [4]. Group 2: Company Profile and Market Position - BD KG is a well-known high-end audio equipment manufacturer with a product line that includes professional headphones, gaming headsets, and wireless audio devices, catering to diverse market needs [1][5]. - The company has a strong sales network across Europe, the United States, and China, and is recognized for its audio technology and German manufacturing quality [5]. Group 3: Financial Performance - In 2024, BD KG is projected to achieve a net profit of €8.543 million and revenue of €84.451 million, recovering from a net loss of €5.051 million and revenue of €72.449 million in 2023 [5][7]. - Jiahe Intelligent reported a revenue of RMB 2.467 billion in 2024, a year-on-year increase of 3.76%, but a significant decline in net profit by 68.85% to RMB 41 million [7]. Group 4: Strategic Benefits - The acquisition is expected to enhance Jiahe Intelligent's brand revenue scale and operational capabilities, while BD KG's products and technology will complement Jiahe's product line, increasing its market share in the professional headphone sector [9].

Core Viewpoint - The acquisition of 52% stake in Fagor Aiderlan by Doli Technology raises concerns due to the significant pre-transaction dividend and the company's declining financial performance [1][2][4] Financial Performance - Doli Technology reported a revenue of 3.592 billion yuan in 2024, a decrease of 8.19% year-on-year [2] - The net profit attributable to shareholders was 425 million yuan, down 14.43% compared to the previous year [2] - The gross profit margin was 21.08%, a decline of 2.13 percentage points year-on-year [2] - In Q1 2025, total revenue was 873 million yuan, an increase of 11.82% year-on-year, but net profit decreased by 17.10% to 95.27 million yuan [2] Inventory and Operational Efficiency - Doli Technology's inventory reached 808 million yuan in 2024, an increase of 43% year-on-year, with inventory turnover days rising to 87 days, up 24% [3] - The increase in inventory may indicate declining product competitiveness or changes in market demand, posing risks in a sensitive industry like automotive parts [3] Governance and Regulatory Issues - The company faced regulatory scrutiny for governance issues, including non-compliance in the use of raised funds and internal control deficiencies [3] - The financial advisor and representatives received warnings for inadequate diligence during the IPO process, raising concerns about the company's internal controls [3] Acquisition Rationale - Doli Technology stated that the acquisition aims to enhance product structure, improve business layout, and advance internationalization [3] - The target company, Fagor Aiderlan, specializes in aluminum alloy casting and is a designated supplier for BMW and Mercedes [3] Strategic Timing Concerns - Questions arise regarding the appropriateness of pursuing international expansion given the company's declining net profit and worsening inventory turnover efficiency [4] - The substantial pre-transaction dividend raises concerns about potential harm to the interests of the listed company [4]