Group 1 - The first Western Low Altitude Economy Expo will be held in Chongqing from July 11 to 13, focusing on low-altitude industry trends and establishing a comprehensive communication platform for the entire industry chain with over 200 participating entities including government units, leading companies, industry associations, and universities [1] Group 2 - On July 11, a total of 13 companies will have their restricted shares unlocked, with a total of 405 million shares and a market value of 7.674 billion yuan based on the latest closing price [2] - Among the companies, seven will have over 10 million shares unlocked, with Andar Technology, Hanbang High-tech, and Zhuoran Co. leading in unlock volume at 140 million shares, 89.2214 million shares, and 61.088 million shares respectively [2] - In terms of market value, seven companies will have over 100 million yuan unlocked, with Weike Technology, Zhili Fang, and Andar Technology leading at 3.652 billion yuan, 996 million yuan, and 866 million yuan respectively [2] Group 3 - On July 11, 20 companies announced 22 stock repurchase progress updates, with three companies disclosing repurchase plans for the first time and two plans approved by shareholders [3] - The highest repurchase plan amounts from newly disclosed plans are from Shantui Co., China National Materials, and Demingli, with proposed repurchase amounts of up to 300 million yuan, 83.2557 million yuan, and 67,100 yuan respectively [3] - Among the approved repurchase plans, Shengjian Technology and Shennong Group have the highest proposed repurchase amounts at 11.8195 million yuan, 2.379 million yuan, and 1.3885 million yuan respectively [3] Group 4 - A total of 34 billion yuan in 7-day reverse repos will mature today, following a central bank operation on July 4 with an operation rate of 1.4% [4]

Core Viewpoint - The independent financial advisor, China Galaxy Securities, has conducted a thorough review of the restricted stock release and listing for Xinjiang Beixin Road and Bridge Group Co., Ltd, confirming compliance with relevant regulations and commitments made during previous financing activities [1][7]. Group 1: Restricted Stock Release - A total of 177,260,865 shares will be released from restrictions, representing 13.98% of the company's total share capital [5]. - The listing date for the released shares is set for July 14, 2025 [5]. Group 2: Changes in Share Capital - Following the formation of the restricted shares, the company's total share capital increased from 1,054,658,053 shares to 1,268,291,582 shares, reflecting an increase of 59,369,655 shares [2][6]. - The total share capital as of the date of the review is confirmed to be 1,268,291,582 shares [2]. Group 3: Commitments and Compliance - The company has made several commitments to avoid competition and ensure compliance with regulations, including commitments made in 2008, 2010, 2016, and 2020 regarding related party transactions and maintaining independence [3][4]. - The independent financial advisor has verified that the company has adhered to these commitments and that the information disclosed regarding the restricted stock release is accurate and complete [6][7].

今日看点 经济观察网讯 7月9日重点关注的财经要闻与资本市场大事： 1、中国6月CPI、PPI数据将公布 7月9日，国家统计局将公布2025年6月份CPI（居民消费价格指数）和PPI（工业生产者出厂价格指数）数据。 2、国新办将举行"高质量完成'十四五'规划"系列主题新闻发布会（国家发展改革委） 7月9日上午10时，国新办将举行"高质量完成'十四五'规划"系列主题首场新闻发布会，国家发展改革委主任郑栅洁介绍"十四五"时期经济社会发展成就，并 答记者问。 3、第十三届中国(西部)电子信息博览会将举行 7月9日至11日，第十三届中国(西部)电子信息博览会将在四川成都举行。本届西部电博会推出电子元器件、集成电路、特种电子、数字产业、机器人等主题 展区，预计将吸引超2万名专业观众参与。 7月9日，16家公司共发布18个股票回购相关进展。其中，3家公司首次披露股票回购预案，4家公司披露股票回购实施进展，9家公司回购方案已实施完毕。 从首次披露回购预案来看，湖南海利、硕贝德、顾家家居分别拟回购不超1.58亿元、3000.0万元、334.72万元。从回购实施进展来看，德展健康、嘉化能 源、天奈科技回购金额最高，分别回购1. ...

Core Viewpoint - The recent announcements regarding the lifting of lock-up periods for shares of listed companies have significant implications for the secondary market, with a notable increase in the number of companies facing share unlocks in the second half of 2025 [1][2]. Summary by Category Unlocking Dynamics - Nearly 580 listed companies are set to face share unlocks from July 1 to December 31, 2025, with over 380 billion shares expected to be unlocked in December alone [1][4]. - A substantial number of companies will see unlocks exceeding 1 billion shares, with some companies facing unlocks of over 5 billion and even 10 billion shares [4]. Notable Companies - Jinlongyu (金龙鱼) leads with an unlock ratio of 89.99%, with 4.879 billion shares set to be unlocked in October 2025 [1][4]. - Other companies with significant unlocks include HNA Holdings (海航控股) with 9.973 billion shares and Guohang Airlines (国货航) with 6.433 billion shares [4]. Recent Announcements - Lingyun Optical (凌云光) announced the unlocking of 224 million shares, representing 48.54% of its total share capital, effective July 7, 2025 [2]. - Other companies such as Dize Pharmaceutical (迪哲医药), Chaozhuo Aerospace (超卓航科), and Qingyun Technology (青云科技) also have significant unlocks scheduled [2][3]. Market Stability Measures - Some companies are proactively extending the lock-up periods for their shares to stabilize market expectations, as seen with Jinlongyu and Zhengyuan Dixin (正元地信) [5][6]. - Regulatory bodies are closely monitoring the potential selling pressure from major shareholders post-unlock, emphasizing the importance of maintaining market stability [6]. Company Profiles - Zhengyuan Dixin focuses on spatial geographic information and smart city services, with revenues of 1.316 billion, 893 million, and 661 million yuan from 2022 to 2024 [8].

Group 1 - The State Council Information Office will hold a press conference on "Promoting High-Quality Development of Culture and Tourism to Enrich People's Lives" [2] - The Taiwan Affairs Office will hold a regular press conference to address recent cross-strait hot issues [3] Group 2 - A total of 8 companies will have their restricted shares unlocked today, with a total unlock volume of 176 million shares, amounting to a market value of 1.019 billion yuan [4] - Among the companies, Baosteel Packaging, Ruifeng Bank, and Baoming Technology have the highest unlock volumes and market values, with unlock volumes of 143 million shares, 29.01 million shares, and 1.2653 million shares respectively [4] - Baosteel Packaging has the highest unlock market value at 682 million yuan, followed by Ruifeng Bank at 173 million yuan and Baoming Technology at 7.5891 million yuan [4] - One company has an unlock ratio exceeding 10%, with Baosteel Packaging at 11.19%, Ruifeng Bank at 1.48%, and Baoming Technology at 0.7% [4] Group 3 - 26 companies have disclosed stock repurchase progress, with 28 related announcements made [5] - Among these, 11 companies have disclosed stock repurchase plans for the first time, with the highest planned repurchase amounts from Shanying International at 1 billion yuan, Shengxin Lithium Energy at 500 million yuan, and Hualan Biological Engineering at 140 million yuan [5] - Three companies have had their repurchase plans approved by shareholders, with the highest amounts from Yanshan Technology at 60 million yuan, China Resources Materials at 24.96 million yuan, and Bayi Steel at 18.4575 million yuan [5] Group 4 - A total of 156.3 billion yuan in 7-day reverse repos will mature today, with an operation rate of 1.4% [6]

Core Viewpoint - The recent significant decline in the stock price of Jingfa Property (01354) has raised concerns, particularly following a drop of 51.08% on June 20, 2023, attributed to panic selling and impending lock-up expirations [1][11]. Market Performance - On June 20, the stock fell to 9.5 HKD, with a trading volume of 1.112 million shares and a total market capitalization of 633 million HKD [1]. - The stock experienced a cumulative decline of 65.45% over five trading days from June 16 to June 20, with an average daily trading volume of 324,000 shares [5][6]. Lock-up Expiration - The upcoming lock-up expiration on July 2, 2023, for two cornerstone investors, Tianbo Diagnostics and Dingzhun Education, is expected to exert downward pressure on the stock. These investors hold a combined 8.78% of the total shares, valued at approximately 55.62 million HKD at current prices [4][11]. - Both cornerstone investors are based in Xi'an, Shaanxi, and have significant unrealized gains, which may incentivize them to sell [4]. Technical Indicators - Technical indicators show a bearish trend, with moving averages indicating a downward trajectory and MACD signaling a strong bearish sentiment [7]. - The stock price is significantly below the 30-day and 60-day moving averages, suggesting a lack of upward momentum [7]. Institutional Activity - Recent trading data indicates that major selling institutions include Yao Cai and HSBC, with significant sell-offs leading to increased selling pressure [9]. - The top five institutional holders account for 81.61% of the shares, with notable selling activity from institutions that also hold significant positions [9]. Financial Performance - Jingfa Property reported a total revenue of 952 million HKD for the year ending December 31, 2024, reflecting a year-on-year growth of 10.4%. Gross profit increased by 21.4% to 143 million HKD, with net profit rising by 19.8% to 61.09 million HKD [12]. - Despite steady financial growth, the company faces challenges due to its heavy reliance on a limited geographic area and major clients, which could impact future growth [13]. Long-term Concerns - The company's business is heavily concentrated in Xi'an, posing risks if the local market environment deteriorates [13]. - The reliance on related parties for revenue generation raises concerns about the sustainability of growth and long-term profitability [13].

Company Overview - Hunan Aibulu Environmental Technology Co., Ltd. has announced the listing of shares that were issued prior to its initial public offering (IPO), with a total of 17,501,250 shares becoming available for circulation, representing 11.219% of the company's total share capital [1][9]. IPO and Share Capital Changes - The company received approval from the China Securities Regulatory Commission for its IPO, issuing 30,000,000 shares, resulting in a total share capital of 120,000,000 shares, with 28,452,467 shares subject to trading restrictions, accounting for 23.71% of the total post-IPO share capital [1][2]. - Following a profit distribution plan approved on April 26, 2023, the company distributed cash dividends of 0.30 RMB per 10 shares, totaling 3,600,000 RMB, and increased its share capital by 36,000,000 shares through a capital reserve conversion, raising the total share capital to 156,000,000 shares [2]. Shareholder Commitments - Major shareholders, including the controlling shareholder Zhong Rubo and Changsha Blue Square Enterprise Management Partnership, have committed to not transferring or managing their shares for 36 months post-IPO [2][6]. - If the company's stock price falls below the IPO price for 20 consecutive trading days within six months post-IPO, the lock-up period for these shares will automatically extend by six months [3][7]. Share Lock-up and Trading Restrictions - The commitments made by shareholders include restrictions on share transfers during their tenure as directors or executives, with specific conditions for post-employment share transfers [4][5]. - Shareholders are required to report and disclose any plans for share reductions 15 trading days prior to selling shares, adhering to legal and regulatory requirements [9]. Compliance and Verification - The sponsor institution has verified that the release of the lock-up shares complies with relevant laws and regulations, confirming that the shareholders have adhered to their commitments regarding share restrictions [11].

Core Viewpoint - The announcement by Baicheng Pharmaceutical regarding the lifting of restrictions on 39,600,000 shares, which constitutes 36.25% of the company's total share capital, is significant as it will allow these shares to be traded starting June 20, 2025 [1]. Share Structure Summary - The total share capital before the IPO was 81,125,000 shares, which increased to 108,166,667 shares post-IPO. The shares without trading restrictions account for 23.95% of the total post-IPO shares, while those with restrictions account for 76.05% [1]. - The shareholders applying for the lifting of restrictions include Shao Chunneng, Lou Jinfang, You Minwei, and three investment partnerships, with Shao Chunneng and Lou Jinfang being the controlling shareholders [1][2]. Financial Performance Summary - Baicheng Pharmaceutical's IPO raised a total of 2.153 billion yuan, with a net amount of 1.863 billion yuan after deducting issuance costs. The actual net fundraising exceeded the initial plan by 1.213 billion yuan [5]. - For Q1 2025, the company reported a revenue of 129 million yuan, a decrease of 40.32% year-on-year, and a net loss attributable to shareholders of 26.2 million yuan, down 152.59% year-on-year [5][6]. - In 2024, the company achieved a revenue of 802 million yuan, a decline of 21.18% compared to 2023, with a net loss of 52.7 million yuan, representing a 119.39% decrease year-on-year [7].

Group 1 - The State Council Information Office will hold a press conference to introduce the preparation status of the third China International Supply Chain Promotion Expo [1] - Domestic oil prices are expected to rise for the fifth time this year, with the new price adjustment window opening on June 17 [2] - A total of 11 companies will have their restricted shares unlocked today, with a total unlock volume of 911 million shares and a market value of 20.886 billion yuan [3] Group 2 - 27 companies have disclosed their stock repurchase progress, with 9 companies announcing new repurchase plans [4] - Among the newly announced repurchase plans, three companies have proposed repurchase amounts exceeding 100 million yuan [4] - Data on U.S. retail sales and capacity utilization for May will be released [5]

Summary of Key Points Core Viewpoint - A total of 45 companies will have their restricted shares unlocked next week, with a combined market value of 45.288 billion yuan, indicating significant market activity and potential investment opportunities [1]. Group 1: Unlocking Schedule and Market Impact - The unlocking period is from June 16 to June 20, with June 17 being the peak day, where 13 companies will unlock shares worth a total of 23.657 billion yuan, accounting for 52.24% of the total unlocking value for the week [1]. - The top three companies by market value of unlocked shares are: Diya Co., Ltd. (11.203 billion yuan), Ruitai New Materials (8.866 billion yuan), and Jidong Cement (4.680 billion yuan) [1]. Group 2: Individual Company Unlocking Details - Jidong Cement will unlock 1.066 billion shares, Ruitai New Materials will unlock 520 million shares, and Diya Co., Ltd. will unlock 360 million shares [1]. - The detailed unlocking data for various companies includes the number of shares and their corresponding market values, with significant figures for companies like Jidong Cement and Ruitai New Materials [2].