Core Viewpoint - The article discusses the establishment of the "Science and Technology Innovation Growth Tier" on the Sci-Tech Innovation Board, aimed at enhancing the inclusivity and adaptability of the system for unprofitable technology companies [2][3]. Group 1: Establishment of the Growth Tier - The China Securities Regulatory Commission (CSRC) issued guidelines for setting up the Sci-Tech Innovation Growth Tier to better serve unprofitable technology companies with significant technological breakthroughs and promising commercial prospects [4][5]. - The Shanghai Stock Exchange (SSE) is developing supporting business rules to implement these guidelines and enhance the service capabilities of the Sci-Tech Innovation Board [2][5]. Group 2: Mechanisms and Standards - The new rules will establish mechanisms focusing on three main areas: implementation standards and procedures, risk disclosure, and improving information disclosure quality [5]. - Companies in the Growth Tier will have special identification management for their stocks, requiring investors to sign a risk disclosure agreement when investing in newly registered companies [5]. Group 3: Pre-Review Mechanism - A pre-review mechanism for stock issuance applications is being proposed to help technology companies manage sensitive information before formal applications [6][8]. - The pre-review process will not replace the formal application review but will provide feedback to issuers and underwriters before the official submission [8][9]. Group 4: Professional Institutional Investors - The article emphasizes the importance of professional institutional investors in identifying and selecting quality technology companies, which will help guide financial capital towards early, small, and long-term investments in hard technology [10][11]. - The SSE plans to establish rules to encourage issuers to voluntarily disclose information about professional institutional investors, which will be considered in the review process but not as a mandatory condition for listing [11][12].

Core Viewpoint - The company Yinglite (000635) has seen a slight increase in stock price and has disclosed significant changes in shareholder structure and upcoming fundraising efforts aimed at enhancing its operational capabilities and environmental standards [1][3]. Shareholder Changes - As of June 10, 2025, the number of shareholders for Yinglite is 24,600, a decrease of 351 shareholders or 1.41% compared to May 30, 2025 [1][3]. Company Announcements - Yinglite's application for a private placement of A-shares has been approved by the China Securities Regulatory Commission, with a total fundraising amount not exceeding 700 million yuan. The funds will primarily be used for projects including a technical transformation project for an annual production of 300,000 tons of calcium carbide [1][3]. - The issuance aims to optimize the company's industrial chain, enhance green environmental standards, and strengthen core competitiveness [1].

联席保荐人及联席主承销商 关于中国银行股份有限公司向特定对象发行 A 股股票 发行过程和认购对象合规性的报告 上海证券交易所： 中国银行股份有限公司（简称"中国银行"或"发行人"）向特定对象发行 A 股股票（简称"本次发行"）已于 2025 年 5 月 23 日收到中国证券监督管理委 员会（简称"中国证监会"）出具的《关于同意中国银行股份有限公司向特定对 象发行股票注册的批复》（证监许可〔2025〕1079 号），同意发行人本次向特 定对象发行股票的注册申请。 中银国际证券股份有限公司（简称"中银证券"）、中信证券股份有限公司 （简称"中信证券"，与中银证券合称"联席保荐人（联席主承销商）"）作为 中国银行本次发行的联席保荐人（联席主承销商），国泰海通证券股份有限公司、 华泰联合证券有限责任公司、中国国际金融股份有限公司、中信建投证券股份有 限公司（以下与中银证券、中信证券合称"联席主承销商"）作为本次发行的联 席主承销商，根据《中华人民共和国公司法》（简称"《公司法》"）、《中华 人民共和国证券法》（简称"《证券法》"）、《证券发行与承销管理办法》（简 称"《承销管理办法》"）、《上市公司证券发行注册管理办 ...

Core Viewpoint - The company plans to issue A-shares to specific investors in 2025, which may dilute immediate returns but includes measures to compensate for this dilution [1][4][11] Financial Impact of the Issuance - The total share capital before the issuance is 20,814.82 million shares, projected to increase to 32,406.30 million shares post-issuance [2] - Assuming net profit remains flat compared to 2024, the basic and diluted earnings per share (EPS) will decrease from 0.36 to 0.34 [2] - If net profit grows by 10%, the basic EPS will increase to 0.37, while if it grows by 20%, the basic EPS will rise to 0.40 [3] Necessity and Rationality of the Issuance - The fundraising projects align with national industrial policies and the company's strategic development, enhancing competitiveness and sustainability [4][6] Relationship of Fundraising Projects to Existing Business - The company focuses on OLED display key materials and evaporation source equipment, with the fundraising aimed at expanding production capacity and optimizing processes [5][6] Measures to Compensate for Dilution of Immediate Returns - The company will accelerate project implementation and improve fund usage efficiency to mitigate the dilution risk [9] - A strict fundraising management system will be enforced to ensure proper use of raised funds [10] - The company will enhance governance and operational efficiency to support sustainable growth [10] Commitments from Company Executives - All directors and senior management have committed to ensuring the effectiveness of the compensation measures and protecting shareholder interests [11]

海通发展首次公开发行股票的发行费用总额(不含税)为10,959.96万元，其中，承销及保荐费用8,656.42 万元。 海通发展2024年3月22日披露关于2023年度利润分配及资本公积转增股本预案的公告。公司拟向全体股 东每股派发现金红利0.15元(含税)。截至2023年12月31日，公司总股本614,788,022股，以此计算合计拟 派发现金红利92,218,203.30元(含税)。本年度公司现金分红比例为49.84%。公司拟以资本公积转增股本 方式向全体股东每10股转增4.80股。截至2023年12月31日，公司总股本614,788,022股，转增完成后，公 司的总股本为909,886,272股。 海通发展2023年5月18日披露2022年年度权益分派实施公告，本次利润分配及转增股本以方案实施前的 公司总股本412,760,150股为基数，每股派发现金红利0.20元(含税)，以资本公积金向全体股东每股转增 0.48股，共计派发现金红利82,552,030元，转增198,124,872股，本次分配后总股本为610,885,022股。 中国经济网北京6月11日讯海通发展（603162）(603162.SH) ...

Fundraising Plan - The company plans to raise a total of up to 385.135 million yuan through a private placement of A-shares, which will be used to supplement working capital and repay loans after deducting issuance costs [1][2] Necessity and Feasibility of Fundraising - The necessity of the fundraising is highlighted by the company's core business of providing centralized heating for industrial parks, which has seen good growth due to increasing demand and economic development in recent years [1][2] - The company has relied on external financing, primarily bank loans, to meet its funding needs, with short-term loan balances increasing from 160.3365 million yuan to 302.6775 million yuan over the past three years [2] - The fundraising will enhance the company's financial strength, increase total assets and net assets, reduce the debt-to-asset ratio, and improve the capital structure [2][5] Impact on Company Control and Market Confidence - The entire subscription of the new shares will be made by the controlling shareholder, Nanchang Baitong Environmental Technology Co., Ltd., which will increase the control ratio of the actual controller, Zhang Chunlong, thereby stabilizing company control [3] - This move reflects the controller's confidence in the company's future, which is expected to boost market confidence and recognition of the company's value [3] Management of Raised Funds - The company has established a fundraising management system in compliance with regulatory requirements, ensuring proper storage, usage, and supervision of the raised funds [4] Impact on Financial Status - The issuance will lead to an increase in total assets and net assets, improve liquidity ratios, and enhance short-term debt repayment capacity [5] - Although there may be a temporary dilution of net asset return and earnings per share due to the increase in total shares, the long-term operational capacity is expected to strengthen with the effective use of raised funds [5] Regulatory Compliance - The fundraising does not involve any project approval matters such as environmental impact assessments, thus avoiding the need for additional regulatory approvals [5] Conclusion on Feasibility - The fundraising plan is deemed necessary and feasible, aligning with relevant laws and regulations, and is expected to meet the company's funding needs while enhancing overall strength and profitability [5]

Core Viewpoint - Suzhou Huazhi Jie Telecommunications Co., Ltd. has successfully completed its initial public offering (IPO) and is set to list on the main board, with the issuance approved by the Shanghai Stock Exchange and registered by the China Securities Regulatory Commission [1][2]. Group 1: Issuance Details - The total number of shares for this issuance is 25 million, with an initial strategic placement of 5 million shares, accounting for 20% of the total issuance [2]. - The final strategic placement remains at 5 million shares, with no need for a downward adjustment to the offline issuance [2]. - The issuance price is set at 19.88 yuan per share, with 8 million shares allocated for online issuance on June 10, 2025 [2]. Group 2: Subscription and Allocation - The online issuance received 11,054,785 valid applications, totaling 64,250,198,500 shares, resulting in an initial online winning rate of 0.01245132% [5]. - Due to an oversubscription rate of approximately 8,031.27 times, the company and underwriter decided to implement a mechanism to adjust the allocation, increasing the online issuance to 16 million shares, which is 80% of the adjusted total [5]. - The offline issuance will be reduced to 4 million shares, accounting for 20% of the adjusted total [5]. Group 3: Payment and Compliance - Investors must ensure that their accounts have sufficient funds for the new share subscription by June 12, 2025, or they will be deemed to have forfeited their subscription [3][5]. - Investors who fail to comply with payment obligations may face penalties and be reported to the China Securities Association [5]. - A 10% lock-up period applies to shares, starting from the date of listing on the Shanghai Stock Exchange [4].

Core Viewpoint - Shanghai Yiyuan Communication Technology Co., Ltd. is preparing to issue A-shares to specific targets in 2025, with legal opinions confirming the compliance of this issuance with relevant laws and regulations [1][6][27]. Group 1: Issuance Approval and Authorization - The company held board and supervisory meetings on March 31, 2025, and a temporary shareholders' meeting on April 18, 2025, to approve the issuance [6]. - The issuance has received necessary approvals and authorizations from the shareholders' meeting, and it still requires review by the Shanghai Stock Exchange and registration with the China Securities Regulatory Commission [6][9]. Group 2: Company Qualifications - Shanghai Yiyuan Communication Technology Co., Ltd. is a legally established and validly existing joint-stock company, with a registered capital of 2,616,576,540 yuan [7][8]. - The company has been publicly listed since July 16, 2019, with stock code "603236" [7]. Group 3: Substantial Conditions for Issuance - The issuance is classified as a private placement of ordinary shares, complying with the relevant provisions of the Company Law and Securities Law [9][12]. - The company has made decisions regarding the type, amount, price, and issuance targets of the shares, which align with legal requirements [9][12]. Group 4: Financial and Operational Independence - The company has been verified to have complete assets, independent personnel, and financial operations, ensuring no significant dependence on related parties [13][14]. - The company’s main business remains stable, focusing on the design, research, production, and sales of wireless communication modules and solutions [17]. Group 5: Shareholder Structure - As of March 31, 2025, the top shareholders include Qian Penghe, holding 17.19% of shares, and Ningbo Yiyuan Investment Partnership, holding 6.6% [13][15]. - Qian Penghe is identified as the controlling shareholder, with significant influence over the company's decisions [15]. Group 6: Legal Compliance and Risk Management - The company has established fair decision-making procedures for related transactions, ensuring no adverse effects on its independence [18][19]. - There are no ongoing significant legal disputes or administrative penalties that could impact the company’s operations or the issuance [26].

Group 1 - The company plans to issue shares to specific investors in 2025, raising a total of no more than 199 million yuan [1] - The funds raised will be used for the second phase of the production base project for welding materials in Thailand [1] - The number of shares to be issued will not exceed 27.0257 million shares, with the issue price set at no less than 80% of the average trading price over the last 20 trading days prior to the pricing benchmark [1] Group 2 - The issuance will target no more than 35 specific investors, with the final selection based on subscription bids [1]

Group 1 - The People's Bank of China will conduct a 1 trillion yuan reverse repurchase operation to maintain liquidity in the banking system, with a term of 3 months [2] - The Ministry of Commerce criticized the U.S. for raising tariffs on steel and aluminum, calling it unilateralism and protectionism, and emphasized the need for a fair trade environment [2] - The China Securities Regulatory Commission plans to deepen the reform of the stock issuance registration system, focusing on information disclosure and supporting high-quality unprofitable tech companies to go public [3] Group 2 - The National Financial Regulatory Administration will enhance financial support for technological innovation, including improving credit offerings and developing technology insurance policies [4] - The National Development and Reform Commission aims to strengthen employment and economic stability policies, with most measures expected to be implemented by the end of June [5] - The European Central Bank announced a 25 basis point reduction in key interest rates, marking the eighth rate cut since June 2024 [5] Group 3 - Silver prices have surpassed $36 per ounce, the highest level since February 2012 [6] Group 4 - Wens Foodstuff Group reported a 14.23% year-on-year increase in pig sales revenue for May [13] - Cuiwei Co. is currently in a loss-making state in its main business [13] - Haite Development is planning to acquire controlling interest in Zhixueyun [13] - Pilin Bio is undergoing a control change and has suspended trading [13] - Hongjing Technology intends to jointly invest in a new company to develop its computing service business [13] - Maipu Medical plans to acquire 100% equity of Yijie Medical and will resume trading on June 6 [13]