Group 1 - China Everbright Holdings (00165) experienced a cumulative increase of 37% over the past two trading days, but saw a decline of over 15% this morning, currently down 13.68% at HKD 11.04 with a trading volume of HKD 739 million [1] - Everbright Holdings is a leader in China's private equity investment, with two main business segments: private asset management and proprietary capital investment [1] - The company invested 11.98% in Shanghai Micro Electronics Equipment Co., Ltd. through its subsidiary Everbright Qingdao in April 2016 [1] Group 2 - Recent rumors regarding Shanghai Micro Electronics' potential "backdoor listing" have resurfaced, as the company has faced obstacles in its IPO process since it entered the listing guidance in December 2017 and withdrew its IPO filing in October last year [1] - Industry investment insiders speculate that Shanghai Micro Electronics may opt for a backdoor listing to avoid significant flaws in the IPO process [1]

9月25日晚，"20倍牛股"上纬新材(688585)公告称，公司股票自2025年7月9日至9月25日期间多次触及股 票交易异常波动及严重异常波动情形，最近两个交易日连续涨停。 上纬新材当前主营为复合材料，市场资金因此对"借壳"抱有高度预期。但此前智元机器人方面回应，上 述收购是出于对上纬新材主业复合材料在机器人轻量化结构件中应用前景的看好，旨在进行产业链上下 游整合，并通过"协议转让+主动要约"方式进行了上市公司控制权转移，而非借壳上市。 盘面上，9月25日，上纬新材再度20CM涨停，触及132.10元的历史新高，继年内首只10倍股之后，又成 为年内首只20倍股，年内最大涨幅已达21.63倍。 上纬新材在9月23日公告，智元恒岳和致远新创以协议转让方式受让公司股份事宜已完成过户登记手 续。智元恒岳和致远新创合伙合计拥有公司29.99%的股份及该等股份对应的表决权，上市公司控股股 东变更为智元恒岳，邓泰华成为实际控制人。 公司公告显示，智元恒岳已于要约收购报告书摘要公告前将2.32亿元存入中国证券登记结算有限责任公 司上海分公司指定的银行账户，作为本次要约收购的履约保证金。 上纬新材表示，公司关注到近期市场存在 ...

根据早前披露的收购方案，该次收购完成后，智元机器人及相关方将合计持有上纬新材66.99%的股 权，控制权进一步增强。 9月25日晚，"20倍牛股"上纬新材(688585)公告称，公司股票自2025年7月9日至9月25日期间多次触及股 票交易异常波动及严重异常波动情形，最近两个交易日连续涨停。 上纬新材当前主营为复合材料，市场资金因此对"借壳"抱有高度预期。但此前智元机器人方面回应，上 述收购是出于对上纬新材主业复合材料在机器人轻量化结构件中应用前景的看好，旨在进行产业链上下 游整合，并通过"协议转让+主动要约"方式进行了上市公司控制权转移，而非借壳上市。 上纬新材表示，公司关注到近期市场存在部分媒体关于上纬新材与实际控制人邓泰华及其控制的智元创 新相关资产进行整合的讨论与报道。公司已发函核实，收购方智元恒岳及其一致行动人致远新创合伙不 存在在未来12个月内对上市公司及其子公司的资产和业务进行出售、合并、与他人合资或合作的明确计 划，或上市公司拟购买或置换资产的明确重组计划。公司股票将于9月26日开市起停牌，自披露核查公 告后复牌。 上纬新材在9月23日公告，智元恒岳和致远新创以协议转让方式受让公司股份事宜已完 ...

公司发函向公司收购人暨控股股东上海智元恒岳科技合伙企业(有限合伙)(简称"智元恒岳")及实际控制 人邓泰华先生核实，截至目前，收购方智元恒岳及其一致行动人上海致远新创科技设备合伙企业(有限 合伙)(简称"致远新创合伙")不存在在未来12个月内对上市公司及其子公司的资产和业务进行出售、合 并、与他人合资或合作的明确计划，或上市公司拟购买或置换资产的明确重组计划。截至目前，未来36 个月内，智元创新不存在通过上市公司借壳上市的计划或安排。 公司将就股票交易波动情况进行停牌核查,，公司股票将于2025年9月26日(星期五)开市起停牌。 智通财经APP讯，上纬新材(688585.SH)公告，公司股票价格自2025年7月9日至2025年9月25日期间多次 触及股票交易异常波动及严重异常波动情形，最近两个交易日连续涨停。公司同时关注到近期市场存在 部分媒体关于上纬新材与实际控制人邓泰华先生及其控制的智元创新(上海)科技有限公司(简称"智元创 新")相关资产进行整合的讨论与报道。 ...

Core Points - The stock price of Shangwei New Materials (688585.SH) has experienced multiple instances of abnormal trading fluctuations from July 9, 2025, to September 25, 2025, with consecutive trading limit increases in the last two trading days [1] - There are ongoing discussions and reports in the market regarding the integration of assets between Shangwei New Materials and its actual controller, Mr. Deng Taihua, along with his controlled entity, Zhiyuan Innovation (Shanghai) Technology Co., Ltd. [1] - The company has issued a letter to its acquirer and controlling shareholder, Shanghai Zhiyuan Hengyue Technology Partnership (Limited Partnership), and Mr. Deng Taihua to verify the situation [1] - As of now, there are no clear plans from Zhiyuan Hengyue and its concerted parties to sell, merge, or collaborate on the assets and business of the listed company and its subsidiaries within the next 12 months [1] - There are also no explicit restructuring plans for asset purchases or replacements by the listed company [1] - Over the next 36 months, Zhiyuan Innovation has no plans or arrangements for a backdoor listing through the listed company [1] - The company will conduct a suspension of trading to investigate the stock price fluctuations, with trading set to resume on September 26, 2025 [1]

四家被"披星戴帽"的酒水股，"保壳"情况可能有点不乐观。 自从岩石股份（上海贵酒，*ST岩石）、海南椰岛（*ST椰岛）、青海春天（*ST春天）及兰州黄河 （*ST兰黄）被退市风险警示之后，便开启了"保壳"之路。南都湾财社-酒水新消费指数课题组记者注意 到，经过近9个月的布局调整，四家*ST股业绩表现各异，不过相同的是，它们的"保壳"之路不太明 朗。 这厢个股艰难保壳，那厢"借壳上市"的声音再起，有观点认为，作为资本市场较为稀缺的酒水类（或以 酒类为主业）个股，有可能会成为现在未上市酒企"借壳"的目标。 但从实际情况来看，这个"壳"可能有点不太好"借"。 "保壳"之路不明朗？四家*ST股半年业绩"不太理想" 根据2025年1月1日起正式实施的退市新规，被"披星戴帽"的个股2025年营收不足3亿元且利润值为负， 则次年需退市，因此这两项财务数据成为*ST股"保壳"的关键。 据南都湾财社记者了解，今年半年报是四家*ST酒水股"保壳"状况的最新财务数据，不过这四家企业均 存在不同程度的隐忧。 从账面上看，*ST春天属于保壳相对明朗的企业。半年报数据显示，该公司营收为1.24亿元，同比下降 26.62%，但归母净利润持 ...

（原标题：15连板，跨界易主的天普股份涨了个寂寞？） 21世纪经济报道记者 石恩泽 深圳报道 9月23日，天普股份（605255.SH）再次一字涨停，开盘价定格在111.28元，这是该股连续第15个交易日 涨停。 从8月22日启动至今，这家主营汽车橡胶管路的公司股价累计涨幅已近300%，市值从不足40亿元飙升至 135.64亿元。 这场资本狂欢的起点是一则控制权变更公告：AI芯片"准独角兽"中昊芯英拟通过"股份转让+增资控股股 东+全面要约"的方式入主这家传统制造业企业。 与AI芯片新贵充满变数的牵手 天普股份的股价表现，堪称2025年下半年A股市场最引人注目的热点之一。 这家主营汽车橡胶管路的传统制造企业连续15个交易日涨停，今年累计涨幅高达790%，近20日涨幅达 214%。 这场资本狂欢始于8月21日晚间的一则公告。 天普股份宣布，中昊芯英拟通过"协议转让+增资控股股东"两步走方式获取天普股份控制权。这意味 着，中昊芯英将借天普股份这个"壳"完成上市。 对于一家主要客户包括福特、江铃、吉利、丰田等知名车企的天普股份而言，为何此次会有机会成为别 人的囊中之物呢？ 这或与近年来随着新能源汽车市场占有率提升， ...

Core Viewpoint - The article discusses the perplexing situation of *ST Chuangxing, a company with minimal revenue and significant management issues, highlighting the questionable practices of its founder, Chen Rongsheng, who profited immensely while leaving the company in a precarious state [1][2][4][6]. Group 1: Company Performance - *ST Chuangxing reported a revenue of only 374,000 yuan over six months, which is significantly lower than its peers [1]. - The company, primarily engaged in construction decoration, failed to secure any orders during this period, resulting in zero revenue from its main business [2]. - The company has seen a drastic decline in net profit, with a reported net loss of 19.65 million yuan in Q3 2024, marking a 160.15% decrease year-on-year [19]. Group 2: Management Issues - The current chairman, Liu Peng, has been arrested for suspected illegal activities, contributing to the company's chaotic management [5]. - The company has been left in a state of disarray, with no clear direction or operational stability [4]. Group 3: Founder’s Actions - Chen Rongsheng, the founder, managed to cash out 1.5 billion yuan while relocating to the United States, raising questions about the company's governance and financial practices [6][22]. - The company underwent a series of questionable transactions, including acquiring assets at inflated prices, which benefited Chen at the expense of shareholders [16][20]. - Over the years, Chen's manipulative strategies allowed him to extract approximately 1.5 billion yuan from the company, leaving it as a shell with no substantial business operations [22]. Group 4: Market Implications - The article highlights the trend of "shell companies" in the A-share market, where investors are often misled by the façade of potential growth while the underlying business remains unprofitable [24][27]. - The situation of *ST Chuangxing serves as a cautionary tale for retail investors, who may fall victim to the capital manipulation and speculative practices prevalent in the market [29][31].

Group 1 - Tianpu Co., Ltd. has achieved a remarkable "13 consecutive increases" in stock price, ranking fourth in annual growth among A-shares as of September 19 [1][4] - The stock price surged by 213.81% from August 22 to September 18, significantly outpacing the Shanghai Composite Index's increase of 1.61% and the automotive parts industry index's increase of 17.46% during the same period [4] - On September 19, Tianpu's stock price hit a new high of 91.96 yuan per share, compared to 26.64 yuan before the suspension announcement on August 14 [5] Group 2 - The surge in Tianpu's stock price is linked to a proposed change in control, with Zhonghao Xinying's chairman and a prominent investor planning to acquire control of the company, raising speculation about a potential reverse merger [6][10] - Zhonghao Xinying, established in October 2020, focuses on high-performance AI chips and has completed nine rounds of financing in 2023, with a latest valuation of 4.412 billion yuan [7] - The current actual controller of Tianpu, You Jianyi, is 62 years old and unable to lead the company's transformation, prompting the need for a new controlling party [11] Group 3 - Tianpu's net profit has remained between 20 million to 30 million yuan over the past three years, with a 16.08% year-on-year decline in net profit for the first half of 2025 [12] - The acquisition is expected to facilitate the company's transition from traditional automotive sectors to the new energy vehicle market, enhancing business quality and shareholder value [12] - Zhonghao Xinying plans to invest approximately 9.65 billion yuan in the acquisition, utilizing both self-funding and bank loans secured by the acquired shares [12] Group 4 - Concerns about insider trading have arisen, as four individuals with insider knowledge engaged in stock trading prior to the public announcement of the control change, although they have claimed their transactions occurred before the information was known [15][17] - The trading activities of these individuals have been scrutinized, with some transactions occurring before the insider information was formed, and they have pledged to return any profits made from these trades [18]

Core Viewpoint - Qingtao Energy clarifies that it is focused on the research and industrialization of semi-solid and all-solid-state batteries, and is not involved in any shell listing arrangements [1] Group 1: Company Focus and Strategy - The company is dedicated to advancing the mass production of its battery products [1] - Qingtao Energy has established strategic partnerships with several listed companies in areas such as market expansion, material joint development, and equipment supply [1] - These collaborations are based on technological complementarity and industrial synergy, indicating a promising future [1] Group 2: Governance and IPO Plans - The company is working to improve its governance structure in accordance with the requirements for listed companies [1] - Qingtao Energy plans to initiate the IPO process at an appropriate time based on business development needs and will disclose progress through official channels [1]