Core Viewpoint - China Metallurgical Group Corporation (China MCC) plans to initiate a share repurchase program of up to 2.5 billion yuan to stabilize market sentiment following a significant drop in stock price due to a major asset sale announcement [2][6]. Group 1: Share Repurchase Plan - The company announced a plan to repurchase A-shares worth no less than 1 billion yuan and no more than 2 billion yuan, with H-shares repurchase capped at 500 million yuan [2][10]. - The repurchase price for A-shares will not exceed 4.90 yuan per share, with a total repurchase quantity estimated between 200 million to 400 million shares, representing approximately 0.98% to 1.97% of the company's total share capital [10][11]. - The funding for the repurchase will come from the company's own funds, with the total repurchase amount accounting for only 0.25% of total assets, 1.31% of net assets attributable to shareholders, and 3.81% of cash funds [12]. Group 2: Background of Asset Sale - The repurchase plan follows a major asset sale announcement on December 8, where China MCC intends to sell multiple assets for 60.676 billion yuan to its controlling shareholder, China Minmetals, and related parties [6]. - The assets being sold include 100% equity of MCC Real Estate and various other significant assets, with the aim of focusing on core business areas such as metallurgical engineering and non-ferrous metal mining [6][7]. - The evaluation of the assets showed a stark contrast, with MCC Real Estate experiencing a 45.18% impairment, while mining-related assets like Huaye Duda saw a substantial appreciation of 789.57% [6]. Group 3: Market Reaction - Following the asset sale announcement, China MCC's stock price plummeted, with A-shares hitting the daily limit down and Hong Kong shares dropping by 21% [8]. - Investors expressed concerns that the divestiture of high-value mining resources could fundamentally alter the company's business structure, shifting its identity from a resource-based enterprise to a primarily engineering contracting firm, potentially impacting long-term profitability [7].

Core Viewpoint - China Metallurgical Group Corporation (China MCC) plans to initiate a share repurchase program of up to 2.5 billion yuan to stabilize market sentiment following a significant drop in stock price due to a major asset sale announcement [2][4]. Group 1: Share Repurchase Plan - The company announced a share repurchase plan involving a maximum of 2.5 billion yuan, with A-shares repurchase amounting to no less than 1 billion yuan and no more than 2 billion yuan, while H-shares will not exceed 500 million yuan [2][6]. - The repurchased shares will be used for cancellation and reduction of the company's registered capital [2]. - The repurchase price for A-shares is capped at 4.90 yuan per share, with a repurchase period of 12 months from the approval date by the shareholders' meeting [6][9]. Group 2: Asset Sale Background - The repurchase plan follows a major asset sale announcement on December 8, where China MCC plans to sell assets worth 60.676 billion yuan to its controlling shareholder, China Minmetals, and related parties [4]. - The assets involved include 100% equity of MCC Real Estate and various other significant assets, with the aim to focus on core business areas such as metallurgical engineering and mining [4][5]. - The evaluation of the assets showed a stark contrast, with MCC Real Estate experiencing a 45.18% impairment, while mining-related assets like Huaye Duda saw a substantial appreciation of 789.57% [4]. Group 3: Market Reaction and Future Outlook - Following the asset sale announcement, China MCC's stock price plummeted, with A-shares hitting the daily limit down and Hong Kong shares dropping by 21% [5]. - Investors are concerned that the divestiture of high-value mineral resources will fundamentally alter the company's business structure, potentially transforming it from a resource-based enterprise to a primarily engineering contracting company, which may impact long-term profitability [5]. - The company reported a total asset value of 808.016 billion yuan and a net asset value of 153.043 billion yuan as of December 31, 2024, indicating that the repurchase will have a minimal impact on its financial health [9].

2025年的冬天，对于95岁的沃伦·巴菲特来说，或许比以往都要寒冷一些。这源于在面对媒体时罕见地用"失望"来形容他对卡夫亨氏（KraftHeinz）最新分 拆计划的看法。 十年前，正是他和3G资本的雷曼联手，用460亿美元制造了这起食品行业最大的"联姻"。彼时，人们相信只要把毛巾拧得足够干，利润就会像番茄酱一样 挤出来。 十年后，神话破灭。3G资本已悄然清仓离场，留给巴菲特的是一个股价腰斩、增长乏力的庞然大物。为了讲出新故事，卡夫亨氏在2025年末做了最后、 也是最激进的决定："截肢"求生——将公司一分为二，并请来了一位擅长"分家"的CEO。 与此同时，被划入"优质资产包"的中国市场，也正如临大敌。甚至可以说，这是这家入华四十年的外企，留在牌桌上的所剩不多的筹码。 "拆弹专家" "必赢市场" 在这次分拆中，中国业务被划入了"全球风味提升公司"。从纸面上看，这是一种荣誉，意味着中国市场被视为"增长引擎"。卡夫亨氏甚至喊出了"未来十 年中国市场净销售额翻番"的口号。 卡夫亨氏董事会这次没有选一位温和的改良派，而是直接从凯拉诺瓦（Kellanova，前家乐氏分拆后的零食业务）挖来了CEO史蒂夫·卡希兰（Steve ...

相比之下，处置低效资产则"知易行难"。公司解释，对于产能利用率低、净值约4.4亿元的闲置厂房和 设备，自2024年起就已启动处置，但因技术迭代风险和工业地产市场下行，其市场估值受限，交易双方 在价格上难以达成一致，即便成功出售，其对扭亏的贡献也相对有限。 科森科技在回复中给出了三重解释："出海压力"、"估值变现"与"知易行难"。首要原因是"出海压力"。 公司表示，受地缘政治影响，核心客户要求配套海外产能，但公司自身海外基地无法满足医疗生产的严 苛规范，且新建工厂投资巨大、验证周期长，若不出售，科森医疗业务在未来两到三年面临萎缩风险。 南方财经12月17日电，科森科技出售核心医疗子公司引发监管问询，科森医疗在2024年及2025年前三季 度分别实现净利润4112万元和4724万元，持续增长，而同期上市公司却持续亏损。监管要求公司说明出 售优质资产而非低效资产的必要性与合理性，是否损害了投资者利益。 其次在于"估值变现"。科森医疗采用收益法评估的市盈率达11.91倍，处于市场合理区间。通过此次出 售，公司能获得9.15亿元现金，产生的处置收益将完全覆盖当期亏损，显著改善财务报表，向市场和客 户传递财务稳健的信号， ...

作者丨张雪 来源丨东四十条资本 也被视为郑氏家族纾困动作的重要一环。 10月底，2025年"全球50最佳酒店"榜单在伦敦发布，今年的榜首落在了维港之畔的瑰丽酒店上，颇具戏 剧性的是，仅仅过去一个月，这家顶级奢华酒店就被摆在了货架上。 近日，有传闻称香港四大家族的郑氏家族已与一些公司接洽，考虑出售旗下58家瑰丽酒店里的部分资 产。知情人士称，这些洽谈尚处于初步阶段，未来走向可能会有所变动。 不过，当下郑氏家族正面临旗下房地产子公司新世界发展集团资金流动性的挑战，加之周大福上个季度 的财务表现也不及预期，种种负面信号让这个传闻显得扑朔迷离。 "女人做酒店的最高境界，就是瑰丽" 拥有46年历史的瑰丽酒店，在行业中算是一个性鲜明的特例，它的发展离不开两代女性掌门人。 1979年，美国德州石油大王H.L． Hunt的千金Caroline Rose Hunt半路出家选择进军酒店业，时年55岁的 她在得克萨斯州达拉斯购入一座古宅，将品牌用她的中间名"Rose"命名，并将其改造为世界知名的餐厅 与酒店 The Mansion on Turtle Creek，该酒店也迅速成为达拉斯地标。 首家瑰丽酒店的面世，很快就得到了业内外 ...

药明康德12月15日公告，公司全资子公司上海药明康德新药开发有限公司已收到受让方支付的首期股权 转让价款15.4亿元，《股权转让协议》约定的交割先决条件已满足，本次交易已完成交割，目标公司不 再纳入公司合并报表范围。预计本次交易将产生税后净利润约9.6亿元，占公司最近一期（2024年度） 经审计归母净利润的比例超过10%。目标公司及相关各方将按协议约定办理市监局变更登记手续，预计 2025年12月31日之前完成变更登记。 ...

Core Viewpoint - The company plans to sell its hotel and associated marketing building to Baotou Grassland Sugar Industry Group for 29.1 million yuan, which is expected to enhance liquidity and improve asset operational efficiency [1] Group 1 - The hotel has been closed to the public since 2018 and has been used minimally for temporary accommodation for visiting clients [1] - The sale is aimed at increasing the company's financial liquidity [1] - The transaction is expected to improve the efficiency of the company's asset operations [1]

MACD金叉信号形成，这些股涨势不错！ 本次交易系根据公司实际经营需要开展，有利于优化公司资产结构，提高资金使用效率及效益。本次出 售的长飞光纤股票比例较小，不改变公司在长飞光纤的持股地位，不存在损害公司及全体股东特别是中 小股东利益的情形。本次出售股票资产对公司2025年度利润总额的影响金额约为8,511万元（未考虑所 得税），以上数据为公司初步核算数据。本次交易对公司的实际影响以注册会计师审计后的最终数据为 准。 格隆汇12月12日丨长江通信(600345.SH)公布，截至本公告披露时，公司通过集中竞价方式出售了长飞 光纤A股股票110万股，出售价格为81元/股～107.86元/股，交易金额为10,454.5万元，公司本次出售长飞 光纤股票的计划已实施完毕。本次交易完成后，公司仍持有长飞光纤118,837,010股股份，占长飞光纤总 股本比例为15.68%。本次交易不构成关联交易，亦不构成《上市公司重大资产重组管理办法》规定的 重大资产重组。 ...

Core Viewpoint - Shennong Group announced the transfer of 100% equity of its wholly-owned subsidiary, Yunnan Shennong Qujing Pig Industry Co., Ltd., to Luo Jiao for a price of 7.6168 million yuan, as the subsidiary has become a performance drag in recent years [1][2]. Financial Performance - Yunnan Shennong Qujing Pig Industry was established in 2009 with a registered capital of 5 million yuan, focusing on commodity pig production, breeding, and technical consulting [1][2]. - The subsidiary reported zero revenue for 2024 and a net loss of 300,700 yuan; in the third quarter of 2025, it incurred a loss of 176,400 yuan, continuing to show no revenue [4]. - As of September 30, 2025, the net asset value decreased from 16.0975 million yuan at the end of 2024 to 7.3332 million yuan [4]. Transaction Details - The transaction price was determined based on the book value of Yunnan Shennong Qujing Pig Industry as of September 30, 2025, following mutual agreement between both parties [5]. - The company stated that the sale of the subsidiary's equity is a comprehensive consideration of its development situation, aiming to improve asset operation efficiency, reduce management costs, and enhance ongoing operational capability [5]. - Upon completion of the transaction, Yunnan Shennong Qujing Pig Industry will no longer be included in the company's consolidated financial statements, with the final impact on the company's profit and loss to be confirmed after annual audit [5].

2025年12月9日，美国医疗器械公司泰利福 Teleflex 公布了一笔引人关注的资产出售： 合计20.3亿美元（约合人民币 143亿 ）的对价 ，将旗下 急症护理、介入泌尿 和OEM 三项业务分别转让给不同收购方。 扣除税费后预计净现金收入约18亿美元，交易预计在2026年下半年完成。这笔交易的背后，不仅是财务动作，更是战略 路径的调整。 公司同时宣布最高10亿美元的股票回购计划——在当前资本环境下，"出售资产+回购股票"是一种鲜明的资本叙事。 短期市场反应已经体现心态变化：公告当天股价上涨超过10%。但相比股价波动，更值得讨论的是这家跨国公司选择"在现在"做减法背后的逻辑。 # 从"新公司分拆 "到 "直 接卖 掉" 这不是Teleflex第一次试图把这三项业务从主体公司中"拿出来"。 2025年初，管理层曾宣布筹备分拆一家公司 "NewCo" ，承载泌尿、急症护理及OEM业务，目标2026年上市。 与此同时，剩余的介入、血管通路和外科器械业务留 在"RemainCo"中，更聚焦医院端的高复杂度场景。 那次分拆计划，是在"运营逻辑已经足够独立"这个前提下提出的：它反映的并不是"甩包袱"，而是希望让资产回 ...