8个月内共收到三次要约收购事项，ST新潮迎来A股罕见一幕。 在金帝石油要约收购之际，内蒙古煤炭大佬张双旺带着更高的报价来势汹汹、志在必得。耐人寻味的 是，8个月前，同样来自内蒙古鄂尔多斯的"煤炭大王"郭金树也曾对ST新潮发起百亿要约"攻势"，不过 因"违规举牌"最终落得一地鸡毛。 张双旺的伊泰集团与郭金树的汇能集团在内蒙古都是响当当的煤炭行业大佬，他们不约而同盯上ST新 潮，既让ST新潮的股民欣喜，也给市场带来一些疑虑。毕竟这两家企业有着太多的交集，而这些联系 也给这场收购蒙上了一丝隐忧。这究竟是不是内蒙古资本设下的一场局？真相有待检验。 同为内蒙古煤炭大佬 内蒙古伊泰煤炭股份有限公司（简称"伊泰B股"），是由内蒙古伊泰集团有限公司独家发起，募集设立 的B股上市公司，控股股东为伊泰集团。公司创立于1997年8月，并于同年在上海证券交易所上市，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，也是内蒙古自治区最大 的地方煤炭企业及中国大型煤炭企业之一。 内蒙古汇能控股集团有限公司（简称"汇能集团"）是扎根于内蒙古鄂尔多斯市的大型民营能源企业，成 立于2001年，经过二十余年的发展，已从一 ...

【深圳商报讯】（记者陈燕青）要约收购依然是部分公司控股的方式之一。根据Wind统计，年内已有 浩欧博、交大昂立、成大生物、ST新潮等4家公司发布了要约收购相关公告。业内认为，由于要约收购 存在一定的溢价，因此蕴藏部分套利机会。 要约收购是指收购人依照相关法律法规的规定公开向上市公司的全体股东发出收购要约，一般分为全面 要约和部分要约。要约收购约定的收购期限一般不得少于30日，并不得超过60日。各国法律对强制要约 收购触发点的规定各不相同，我国目前的强制要约收购触发点定为30%。 金帝石油此前计划以3.10元/股的价格，要约收购ST新潮20%股份，要约收购期限为4月8日至5月7日。 这样一来，伊泰B股与金帝石油构成竞争性要约，前者的报价比后者提高了近10%。 还有A股公司被港股公司要约收购。浩欧博1月下旬公告，港股中国生物制药通过境内控股子公司双润 正安预定要约收购其1557.05万股，占公司股份总数的25.01%。 从要约收购的目的来看，一是实施行业内横向整合，二是大股东进一步巩固对上市公司的控制权，三是 借此获取控股权。 对此，北方一家券商投行高管对记者表示，通过要约收购，收购方可以快速收购大量股份，从而对 ...

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]