说起过去十年中国企业的经典收购案例，相信不少人会想到：安踏收购德国狼爪、浙江龙盛收购全球最 大纺织染料供应商之一的德司达，以及长飞光纤收购RFS等等。 但如果说规模最大、金额最高的一桩收购案例，那必然要数"中国化工集团对先正达的收购"。 2017年，中国化工以490亿美元的价格，收购了排在全球前三的农药龙头先正达，按照当时的汇率来算， 约合3200多亿人民币，这无疑是一笔难以想象的巨款。 那么8年时间过去了，中国化工赚回当初的本金了吗？先正达的存在又对国内的农业具有什么影响？ 巨额收购，震惊全球 先正达的前身是由瑞典的阿斯特拉和英国的捷利康合并而来的阿斯利康，在2000年时，阿斯利康又与瑞 士的诺华集团合并，成立了先正达。 当时，诺华集团拥有先正达61%的股份，而阿斯利康仅仅只有39%。 虽然成立时间不算很早，但凭借深厚的化工经验，先正达仅用十几年的时间，便成为了仅次于孟山都和 杜邦的全球第三大种子公司。 但除了种子行业外，先正达在作物保护方面的业务也十分出众，因此，拥有深厚实力的他也分别在瑞士 和美国上市。 可自从2015年之后，受大宗商品价格走低、拉美市场疲软的影响，全球农业都走上了下坡路，不少企业 纷纷 ...

Core Viewpoint - The issuance of local government special bonds has increased in May, while the scale of debt repayment funds has decreased, indicating a shift in funding priorities towards investment expansion and real estate stabilization [1][2]. Group 1: Local Government Bond Issuance - In the first five months of the year, the total issuance of local government bonds reached approximately 4.3 trillion yuan, with May alone accounting for 779.4 billion yuan [1]. - The issuance of new special bonds in May was 443.2 billion yuan, marking the highest monthly figure for the year, while refinancing special bonds for replacing existing hidden debts dropped to 30.2 billion yuan, the lowest for the year [1][2]. - The total issuance of new special bonds from January to May was about 1.6 trillion yuan, representing 37% of the annual quota, suggesting room for acceleration in issuance [1][2]. Group 2: Debt Repayment and Special Bonds - In May, the total issuance of debt repayment bonds included 302 billion yuan for refinancing hidden debts and 987 billion yuan in "special" new special bonds for repaying existing debts, totaling 1.289 trillion yuan [2]. - Cumulatively, from January to May, refinancing special bonds for replacing hidden debts amounted to 1.63 trillion yuan, accounting for 81% of the annual quota of 2 trillion yuan [2]. - The issuance of new special bonds for debt repayment reached 242.4 billion yuan, which is 30% of the annual quota of 800 billion yuan, indicating significant progress in debt resolution [2]. Group 3: Investment Focus of Special Bonds - Since 2025, the primary allocation of funds from newly issued special bonds has been directed towards cold chain logistics, municipal and industrial park infrastructure (approximately 33%), transportation infrastructure (21%), and affordable housing projects (12%) [3]. - The issuance of land reserve special bonds has increased, with a total of 463 billion yuan issued in May for land storage, the highest monthly figure for the year [3]. - As of May 20, approximately 23 provinces have publicly announced plans to use special bonds to recover nearly 3,000 parcels of idle land, covering over 1.33 million square meters and totaling over 350 billion yuan [4][5]. Group 4: Special Bonds for Housing - In late May, special bonds were issued in Zhejiang and Sichuan for the acquisition of existing residential properties, aimed at alleviating inventory pressure in economically stable third and fourth-tier cities [5][6]. - Specific projects in Zhejiang included 16.53 million yuan allocated for purchasing existing properties for affordable housing, involving multiple localities [6].

佳禾智能（300793）公告，公司全资子公司佳禾国际拟以现金方式支付对价，收购Carol Shirley Beyer、 Carina-Gloria Mühling、Kaja Mühling、Daniela Gruidl、Dennis Gruidl、Samantha Carina Edwards、David Edwards持有的beyerdynamic GmbH&Co.KG的全部有限合伙权益、普通合伙人BEYER DYNAMIC Verwaltungs-GmbH的全部股份及股东借款。初步收购价款为1.22亿欧元，最终收购价款将根据最终交割 日财务报表中的数据确定。本次交易不构成关联交易，亦不构成重大资产重组。截至本公告日，公司正 聘请中介机构开展标的公司的审计、评估工作，并推进境外投资相关审批备案程序。 ...

6月6日，国家粮食和物资储备局发布关于在河南省启动2025年小麦最低收购价执行预案的通知。根据小 麦和稻谷最低收购价执行预案等相关政策规定，经研究，同意自2025年6月7日起在河南省内符合条件的 地区启动2025年小麦最低收购价执行预案。(智通财经) ...

文/梧桐晓编 6月6日，湖南国科微电子（300672）发布公司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预案。国科微拟通过发行股份及支付现金的方式向宁波 甬芯等11名交易对方购买其合计持有的中芯集成电路（宁波）有限公司（以下简称中芯宁波）94.366%股权，并拟向不超过35名符合条件的特定对象发行股票 募集配套资金。因标的公司中芯宁波至今未盈利，11名交易对方承诺：在中芯宁波盈利前不减持所持国科微股份。交易对方入股中芯宁波120个月后中芯宁波 仍未盈利的，可以减持50%的股份，剩余股份待中芯宁波盈利后才能减持！并且减持价格不低于本次发行价格。这个交易对方的"标的公司盈利前不减持股 份、减持价格不低于发行价"的承诺安排是本次并购交易的一大亮点！ 二、标的公司2024年亏损8.13亿元，已与某头部移动通讯终端企业指定主体签署长期供应框架协议 标的公司中芯宁波成立于2016年10月，目前注册资本47.3304亿余元。中芯宁波是国内领先的特种工艺半导体晶圆代工及定制化芯片代工企业，主要从事射频前 端、MEMS和高压模拟器件等领域的晶圆代工及封装测试业务，也为客户在上述领域提供定制化芯片方案。 2023年、20 ...

Group 1 - The company plans to acquire 51% equity of Anhui Zhonghe Semiconductor Technology Co., Ltd. through cash payment, with a transaction price of RMB 121.38 million [4][15][22] - The acquisition aims to optimize resource allocation, enhance market share, and improve R&D capabilities, thereby increasing the company's core competitiveness and promoting high-quality development [2][22] - The transaction price is based on an asset evaluation report, which values the total equity of the target company at RMB 238 million, with the acquisition price being less than the evaluated value [11][13][22] Group 2 - The target company, Anhui Zhonghe Semiconductor, specializes in semiconductor packaging equipment and has established a strong customer base, including notable clients in the industry [7][10] - The financial data of the target company shows total assets of RMB 246.12 million and a net profit of RMB 2.34 million for the year ending December 31, 2024 [10][22] - The acquisition will result in Anhui Zhonghe Semiconductor becoming a subsidiary of the company, and its financial statements will be consolidated into the company's financial reports [22]

友发集团（601686）公告，公司拟以现金交易方式使用自有资金向磐石建龙及沈阳雷明收购其持有的吉 林华明管业有限公司70.96%股权，合计转让价格为4740.13万元。股权转让后，公司拟与标的公司的其 他股东对标的公司同比例增资，增资价格均为1元/股，标的公司注册资本达到2.97亿元。交易已经公司 第五届董事会第十八次会议和第五届监事会第十七次会议审议通过，无需提交股东大会审议。本次交易 构成关联交易，标的公司为磐石建龙实际控制的企业，磐石建龙的实际控制人张志祥与公司实际控制人 之一、董事长李茂津系姻亲关系。本次交易不构成《上市公司重大资产重组管理办法》规定的重大资产 重组，本次交易实施不存在重大法律障碍。 ...

Core Viewpoint - Maipu Medical announced a restructuring plan to acquire 100% of Yijie Medical, which is expected to expand its product offerings in the neurosurgery field, despite concerns over potential financial impacts due to Yijie Medical's current losses [2][3]. Group 1: Company Overview - Maipu Medical is the only company in China's neurosurgery field that offers a comprehensive range of implantable medical devices, including artificial dura mater patches and absorbable hemostatic agents [2]. - Yijie Medical specializes in the research, design, and sales of vascular interventional medical devices for neurology, with products such as neurointerventional catheters and balloon dilation catheters [2]. Group 2: Financial Performance - In 2024, Maipu Medical reported a net profit of 78.85 million yuan, showing a growth trend from 2022 to 2024 [3]. - Yijie Medical is projected to incur net losses of 29.51 million yuan in 2023 and 26.16 million yuan in 2024, raising concerns about the impact of the acquisition on Maipu Medical's financial performance [3]. Group 3: Market and Competitive Landscape - The acquisition is seen as a strategic move to enhance Maipu Medical's product categories by integrating biocomposite material technology into the interventional field [2]. - There are concerns regarding market competition, as existing products in the neurointerventional medical device sector maintain high market shares, and potential new products could disrupt the market [3].

据了解，金太阳粮油前身为江苏金太阳油脂有限责任公司，成立于1996年，并于2015年整体变更为股份 公司，更名为"金太阳粮油股份有限公司"。2016年，金太阳粮油股票在新三板挂牌。 近几年，金太阳粮油业绩波动不小。财务数据显示，2023年及2024年，金太阳粮油营业收入分别为 25.08亿元、22.83亿元，同比分别下降23.72%、9%；归属于挂牌公司股东的净利润分别为540.42万元、 4794.94万元，同比分别变动-92.79%、787.27%。 对此，苏垦农发在公告中解释称，食用油领域是高度竞争的行业，2023年受原材料价格波动影响，金太 阳粮油经营业绩出现大幅下滑，2024年以来市场行情已有所好转，但未来市场环境仍存在较大不确定 性。 长江商报奔腾新闻记者徐阳 农业公司苏垦农发（601952）(601952.SH)继续增持金太阳（300606）粮油股份有限公司(以下简称"金太 阳粮油")股份。 6月4日晚，苏垦农发公告称，公司拟使用自有资金，以现金为对价，通过特定事项协议转让方式受让金 太阳粮油2300万股(占比28.75%)无限售条件股份，交易金额为1.78亿元。 苏垦农发表示，本次交易是公司基 ...

| 亚振家居股份有限公司 | | | | --- | --- | --- | | 上市公司： | 亚振家居股份有限公司 | | | 上市地点： | 上海证券交易所 | | | 股票简称： | *ST 亚振 | | | 股票代码： | 603389.SH | | | 收购人： | 吴涛 | | | 住所： | 济南市市中区**** | | | 收购人之一致行动人： | 范伟浩 | | | 住所： | 北京市昌平区**** | | | | 收购方财务顾问 | | | 签署日期：二〇二五年六月 | | | | 亚振家居股份有限公司 | | 要约收购报告书 | 亚振家居股份有限公司 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自然人吴涛先生。本次要约收购主要基于收购 人及其一致行动人对上市公司价值及未来发展前景的认可，吴涛先生拟通过本次 要约收购增加对上市公司的持股比例，进一步巩固对*ST 亚振的控制权。 二、2025 年 4 月 17 日，亚振投资及高伟先生、户美云女士、高银楠女士与 吴涛先生签署了《股份转让协议一》，约定亚振投资 ...