Core Viewpoint - China Xuyang Group (01907) announced the sale of its wholly-owned subsidiary, Xuyang New Energy, to acquire 100% equity of the target company, Xingtai Xuyang Material New Technology Co., Ltd., for a consideration of RMB 54.6862 million [1] Summary by Relevant Sections Transaction Details - The transaction involves the sale of all equity of Xingtai Xuyang Material New Technology Co., Ltd. for RMB 54.6862 million [1] - The target company has not yet commenced substantial business operations since its establishment [1] Financial Implications - The company expects to realize a gain of approximately RMB 33.7693 million from the sale [1] - The sale is anticipated to reflect the intrinsic value of the target company's assets, primarily its land use rights [1] Strategic Rationale - The board believes that the sale is a favorable arrangement for the group, as the target company has not generated profits for the group [1]

每经讯，亿安天下10月31日发布公告称，为持续提升北京亿安天下科技股份有限公司技术竞争力，优化 资源配置，满足未来业务发展需求，公司计划对现有设备进行升级。公司拟以总金额约为人民币6638万 元向客户出售公司所持有的部分资产，最终以实际签订合同为准。 （记者 曾健辉） 免责声明：本文内容与数据仅供参考，不构成投资建议，使用前请核实。据此操作，风险自担。 ...

在出售事项前，集团持有KCG Capital的30%股权，并未曾参与KCG Capital的管理或策略决定。于过往 年度KCG Capital并无派发股息。出售事项将为集团带来即时流动资金，改善其现金状况，从而优化其 资产组合结构。集团目前计划将出售事项所得作为一般营运资金及现金储备，以寻求未来的潜在投资机 会。代价经订约方公平磋商后厘定，并参考KCG Capital最新的未经审核资产净值及当前市况。完成时 收取的1610万港元所得款项将增强公司的一般营运资金基础。 新华汇富金融(00188)发布公告，于2025年10月31日，公司全资附属公司SW Kingsway Capital Group Limited作为卖方与买方(KCG Capital，为公司的联营公司)就有关出售1.5万销售股份，占KCG Capital已 发行股本的30%签订买卖协议。根据买卖协议，卖方同意出售及买方同意以股份回购交易方式购回销售 股份，代价为1610万港元(不包括交易成本)。出售事项完成后，公司将不再持有KCG Capital的任何股 权，且KCG Capital将不再被归类为关联公司。 ...

在出售事项前，集团持有KCG Capital的30%股权，并未曾参与KCG Capital的管理或策略决定。于过往 年度KCG Capital并无派发股息。出售事项将为集团带来即时流动资金，改善其现金状况，从而优化其 资产组合结构。集团目前计划将出售事项所得作为一般营运资金及现金储备，以寻求未来的潜在投资机 会。代价经订约方公平磋商后厘定，并参考KCG Capital最新的未经审核资产净值及当前市况。完成时 收取的1610万港元所得款项将增强公司的一般营运资金基础。 智通财经APP讯，新华汇富金融(00188)发布公告，于2025年10月31日，公司全资附属公司SW Kingsway Capital Group Limited作为卖方与买方(KCG Capital，为公司的联营公司)就有关出售1.5万销售股份，占 KCG Capital已发行股本的30%签订买卖协议。根据买卖协议，卖方同意出售及买方同意以股份回购交 易方式购回销售股份，代价为1610万港元(不包括交易成本)。出售事项完成后，公司将不再持有KCG Capital的任何股权，且KCG Capital将不再被归类为关联公司。 ...

KCG Capital为一家投资控股公司。KCG Capital之主要投资是宝通证券亚洲有限公司，一家於香港注册 成立的有限公司，为KCG Capital的全资附属公司，并获证监会发牌从事第1类：证券交易、第4类：就 证券提供意见、第6类：就机构融资提供意见及第9类：提供资产管理等受规管活动。 在出售事项前，集团持有KCG Capital的30%股权，并未曾参与KCGCapital的管理或策略决定。于过往 年度KCG Capital并无派发股息。出售事项将为集团带来即时流动资金，改善其现金状况，从而优化其 资产组合结构。集团目前计划将出售事项所得作为一般营运资金及现金储备，以寻求未来的潜在投资机 会。 格隆汇10月31日丨新华汇富金融(00188.HK)公布，于2025年10月31日，公司全资附属公司SW Kingsway Capital GroupLimited作为卖方与买方(为公司联营公司)就有关出售 15,000 销售股份，占KCG Capital已 发行股本的30%签订买卖协议。根据买卖协议，卖方同意出售及买方同意以股份回购交易方式购回销售 股份，代价为1610万港元(不包括交易成本)。 ...

Core Viewpoint - 百盛集团 announced the termination of a lease agreement for a property in Guiyang, China, effective from March 29, 2024, due to the inability to commence renovation work, which is necessary for the lease to take effect [1] Group 1: Lease Termination Details - The lease termination agreement involves a sub-tenant and is set to take effect from November 30, 2025 [1] - The termination will require the company to derecognize the property as a right-of-use asset, amounting to approximately RMB 51.2 million [1] - The lease agreement was originally set to start from the date of property renovation, which has not commenced due to objective reasons [1] Group 2: Implications of the Termination - The board of directors believes that the inability to proceed with the renovation has hindered the sub-tenant from operating its department store at the property [1] - The relevant property is located at Longgang International Center, No. 117 Zhonghua Middle Road, Guiyang, Guizhou Province, China [1]

Group 1 - The core point of the article is that *ST Yazhen plans to sell a commercial property in Suzhou for 7.35 million yuan to improve asset liquidity and recover funds [1] - The company's revenue composition for the first half of 2025 indicates that the home furnishing industry accounts for 90.84% of total revenue, while other businesses contribute 9.16% [1] - As of the report date, *ST Yazhen's market capitalization is 12.3 billion yuan [2]

Transaction Overview - On August 20, 2025, Shenzhen Yingshisheng Information Technology Co., Ltd. disclosed a pre-announcement regarding the reduction of shares by a shareholder holding more than 5% [1] - Shanghai Tongyi Investment Management Co., Ltd., representing several private equity funds, plans to reduce its holdings in Yingshisheng by up to 15,020,061 shares, not exceeding 2% of the total share capital [1] - As of the announcement date, Tongyi Investment has sold 8,109,954 shares, amounting to approximately 178.85 million RMB, with an expected pre-tax profit of about 122.74 million RMB, representing 10% of the company's most recent audited net profit [1][4] Shareholding Changes - Prior to the sale, Hang Seng Electronics and its concerted action party, Tongyi Investment, held a total of 97,427,988 shares in Yingshisheng, accounting for 12.97% of the total share capital [4] - After the sale, their combined holdings decreased to 89,318,034 shares, representing 11.89% of the total share capital [4] Approval and Compliance - The sale does not constitute a related party transaction or a major asset restructuring and has been conducted within the management's approval authority [2][5] - If future transactions reach the threshold requiring board or shareholder approval, a meeting will be convened for further deliberation [2][5] Asset Characteristics - The sold assets are free from any encumbrances, legal disputes, or restrictions on transfer, ensuring clear ownership [5][6] - The shares were acquired through a combination of agreement transfer and market transactions, with a total of 37,560,000 shares acquired previously [6] Financial Impact - The expected pre-tax profit from the sale is projected at approximately 122.74 million RMB, which will be finalized in the company's audited financial reports [4][6] - The transaction aims to optimize the company's asset structure while maintaining a long-term investment perspective in Yingshisheng [6]

Group 1: ABB's Robotics Division Sale - ABB Ltd. has sold its robotics division to SoftBank Group for approximately $38 billion, marking a significant move in its multi-year simplification effort [1][2] - The sale reflects a trend where companies with valuable technology assets opt for outright sales instead of IPOs or spinoffs when market conditions are unfavorable [2][3] - This transaction provides ABB with immediate cash and balance-sheet flexibility, but eliminates the potential for shareholders to gain direct ownership in a high-growth unit [2] Group 2: Coty's Consideration of CoverGirl - Coty Inc. is exploring options to either sell or spin off its CoverGirl cosmetics brand as part of a strategy to simplify its beauty portfolio and reduce debt [4][5] - CoverGirl has faced challenges in maintaining relevance against digital-first and luxury competitors, and a sale could enhance Coty's balance sheet while a spinoff might unlock long-term brand value [5][6] - Coty has prior experience with divestitures, having previously reduced its stake in Wella, and investors are keen to see how much value can be extracted from CoverGirl [6] Group 3: Goldman Sachs and Versant Spinoff Loan - Goldman Sachs is seeking investors for a $2.1 billion loan related to Comcast's upcoming Versant spinoff, which will be part of a larger debt package including a bond offering [7] - The financing indicates that Versant is expected to pay a multi-billion dollar dividend to Comcast at the time of the spinoff, consistent with recent spinoff trends [7]

Core Viewpoint - The recent legal disputes involving Wanda Group and its chairman Wang Jianlin highlight ongoing financial challenges and asset liquidation strategies as the company navigates a tightening cash flow situation [1][8][12]. Legal Issues - A court case has been filed by Hainan Wanjun Management Service Co., Ltd. against Dalian Wanda Group Co., Ltd. and its subsidiaries, with a hearing scheduled for November 3 at the Shanghai Second Intermediate People's Court [1]. - Wang Jianlin and Wanda Group have been restricted from high consumption activities until September 26, 2025, due to a court ruling related to a debt of 186 million yuan [3][4]. Asset Liquidation - Since 2023, Wang Jianlin has adopted a "sell, sell, sell" strategy to alleviate financial pressures, resulting in the sale of over 30 projects, including 7 Wanda Plazas in early 2023 [8][11]. - The company has sold its 100% stake in Wanda Hotel Management for 2.49 billion yuan to Tongcheng Travel, and has also divested stakes in various other assets, including financial and entertainment sectors [8][11][13]. - As of the end of 2024, Wanda Group operates 513 Wanda Plazas, with a total commercial area of 70.9 million square meters [9]. Financial Performance - Despite frequent asset sales, the cash inflow has been lower than expected, with many transactions being used to offset debts rather than generate new capital [12]. - Wang Jianlin's wealth has significantly decreased from 140.84 billion yuan to 58.81 billion yuan within a year, dropping his ranking from 9th to 51st on the New Fortune 500 list [15].