Group 1 - The initial transfer price determined after inquiries with institutional investors is 18.28 CNY per share [1][2] - A total of 18 institutional investors participated in the inquiry transfer, including fund management companies, securities firms, private equity fund managers, futures companies, and qualified foreign investors [1] - The total number of shares effectively subscribed by participating institutional investors is 12,680,000, with an effective subscription multiple of 1.20 times [1] Group 2 - The proposed transfer of shares has been fully subscribed, with the preliminary determination of the transferees being 18 institutional investors, intending to acquire a total of 10,560,855 shares [1] - The inquiry transfer does not involve a change in company control and will not affect the company's governance structure or ongoing operations [2] - The shares acquired through the inquiry transfer cannot be transferred by the transferees for a period of 6 months after acquisition [2]

Group 1 - The core point of the article is that Yuzhen Co., Ltd. (688123.SH) announced that its shareholder Yiding Investment plans to transfer 3.8 million shares, accounting for 2.40% of the company's total share capital, through a pricing inquiry method [1] - The transferor has no affiliation with the company's controlling shareholder, actual controller, directors, or senior management, and the shares being transferred have been released from restrictions [1] - The reason for the transfer is due to the transferor's own funding needs [1] Group 2 - The transferee must possess corresponding pricing capability and risk tolerance, including qualified institutional investors and other private fund managers who have registered with the Asset Management Association of China [1]

Core Viewpoint - The article discusses the qualification verification of shareholders of Hanghua Ink Co., Ltd. for the purpose of transferring shares to specific institutional investors through a price inquiry process organized by China International Capital Corporation (CICC) [1][2]. Group 1: Inquiry Transfer Delegation - CICC has been entrusted by the shareholder, Hangzhou Xiefeng Investment Management Partnership (Limited Partnership), to organize the inquiry transfer of shares [1]. Group 2: Qualification Verification of Shareholders - CICC completed the qualification verification of the transferor, including checking business registration documents and collecting relevant verification materials [2]. - Hangzhou Xiefeng Investment was established on August 22, 2013, with a registered capital of 30.850156 million yuan, and is engaged in equity investment [2][3]. - The transferor has not violated any regulations regarding share reduction and has fulfilled necessary review or approval procedures for the transfer [3][4]. Group 3: Compliance with Regulations - The transferor is not a director, supervisor, or senior management of the company, and the shares to be transferred are not subject to any restrictions such as pledges or judicial freezes [3][4]. - CICC confirmed that Hanghua Ink's recent cash dividends exceeded 30% of the average annual net profit attributable to shareholders over the last three audited years [4]. - The stock price of Hanghua Ink has remained above the net asset value per share and the initial public offering price during the last 20 trading days [4]. Group 4: Conclusion - CICC concludes that Hangzhou Xiefeng Investment meets the conditions for participating in the inquiry transfer, complying with relevant laws and regulations [5].

Core Viewpoint - CITIC Securities is conducting a qualification review for shareholders of Suzhou Naxin Microelectronics Co., Ltd. regarding the transfer of shares to specific institutional investors before the company's initial public offering [1][2]. Group 1: Transfer Delegation - CITIC Securities has been entrusted by the shareholders of Naxin Micro to organize the inquiry transfer of shares [1]. Group 2: Qualification Review Process - CITIC Securities has completed the qualification review of the transferring shareholders, including interviews and document collection [2]. - The transferring shareholders provided a commitment letter regarding their qualifications for the share transfer [2]. Group 3: Shareholder Qualification Details - Suzhou Naxin No. 1 Information Consulting Partnership (Limited Partnership) is a legally existing entity with no violations of laws or regulations [2][3]. - The partnership has not breached any regulations regarding share reduction and is a concerted actor of Naxin Micro's controlling shareholders [3][4]. - The shares intended for transfer are pre-IPO shares and are not subject to any restrictions such as pledges or judicial freezes [4][5]. Group 4: Compliance with Regulations - The transferring shareholders have adhered to the necessary review and approval procedures for the share transfer [5][6]. - The inquiry transfer complies with the guidelines regarding the reduction of shares by controlling shareholders and their concerted actions [7][8]. Group 5: Financial Health and Stock Performance - Naxin Micro has distributed cash dividends exceeding 30% of the average annual net profit attributable to shareholders over the last three audited fiscal years [7]. - The stock price has remained above the net asset value per share and the initial public offering price during the last 20 trading days [7][8]. Group 6: Timing of Transfer - The inquiry transfer does not fall within the restricted periods outlined in the guidelines, ensuring compliance with reporting schedules [8][9]. - There are no significant events that could impact the stock price during the inquiry transfer process [9]. Group 7: Final Review Opinion - CITIC Securities concludes that the transferring shareholders meet the qualifications required by the guidelines and there are no prohibitive circumstances regarding the share transfer [10].