Policy Developments - The National Medical Products Administration (NMPA) held a meeting on May 28 to discuss the "Clearing Source" action in the drug distribution sector, emphasizing strict enforcement of regulations and collaboration across departments to ensure drug quality and safety [2]. Drug and Device Approvals - Novartis announced on May 28 that its anti-VEGF monoclonal antibody, Brolucizumab, has been approved by the NMPA for the treatment of diabetic macular edema (DME), allowing for injections every three months after the loading phase [4]. - On the same day, the NMPA accepted the new drug application (NDA) for Rocbrutinib, a fourth-generation BTK inhibitor developed by LuPeng Pharmaceutical, which is intended for adult patients with mantle cell lymphoma (MCL) who have previously received BTK inhibitor treatment [5]. Capital Market Activities - Zhenmai Bio completed a C+ round financing of 280 million yuan on May 28, with participation from multiple investors, aiming to focus on "commercial ecosystem construction" and "global expansion" [7]. Industry Events - On May 27, Anmai Bio announced a global licensing agreement with Juri Biosciences for the development of KLK2 and CD3 T-cell engaging molecules for metastatic prostate cancer, with potential payments up to 210 million USD [9]. - Eli Lilly announced on May 27 that it will acquire SiteOne Therapeutics, a startup focused on developing sodium channel inhibitors for pain management, with a total deal value of up to 1 billion USD [10]. Regulatory and Compliance Issues - ST Longjin announced on May 28 that it received a decision from the Shenzhen Stock Exchange to terminate its stock listing, effective June 27, 2025, due to non-compliance with listing rules [12]. - ST Jiyuan's stock will be delisted on May 29, 2025, after failing to maintain a closing price above 1 yuan for 20 consecutive trading days [14]. - ST Suwu reported on May 28 that it is under investigation by the China Securities Regulatory Commission (CSRC) for information disclosure violations, but its daily operations remain normal [15]. - Jiaying Pharmaceutical announced on May 28 that it is under investigation by the CSRC for suspected information disclosure violations and will cooperate with the regulatory body [16].

据知情人士透露，英国石油公司（BP）的Castrol润滑油业务吸引到Reliance Industries Ltd.等能源公司的 的收购意向。 阿波罗和Lone Star Funds等买断公司也感兴趣。（彭博） ...

Core Viewpoint - Salesforce, Inc. has officially agreed to acquire Informatica Inc. for approximately $8 billion in equity value, net of Salesforce's current investment in Informatica [1] Group 1: Acquisition Details - Holders of Informatica's Class A and Class B-1 common stock will receive $25 in cash per share under the terms of the agreement [1] - Upon close, Salesforce plans to rapidly integrate Informatica's technology stack, including data integration, quality, governance, and unified metadata for Agentforce, along with a single data pipeline with MDM on Data Cloud [2] Group 2: Market Reaction - Informatica shares gained 0.5% to trade at $24.04 following the announcement [2] - Analysts have adjusted their price targets for Informatica post-announcement, with RBC Capital raising the target from $22 to $25 and Wells Fargo raising it from $19 to $25 [7]

Acquisition Overview - SunCoke Energy will acquire 100% of Phoenix Global for $325 million on a cash-free, debt-free basis[8] - The implied purchase price is approximately 54 times Phoenix's Last Twelve Months (LTM) Adjusted EBITDA as of March 31, 2025, which was $61 million[8] - The acquisition is expected to generate annual synergies of approximately $5 million to $10 million[8] Financial Impact and Debt Profile - The transaction is expected to be immediately accretive to SunCoke Energy[8] - Pro forma Adjusted EBITDA for the combined company is projected to be $279 million[18] - SunCoke's 2025E Consolidated Adjusted EBITDA guidance is $210 - $225 million[19] - Pro Forma Gross Debt / Adj EBITDA is expected to be 230x and Net Debt / Adj EBITDA is expected to be 141x[28] Strategic Benefits - The acquisition diversifies SunCoke's customer base to include Electric Arc Furnace (EAF) operators and expands its global footprint[11] - Phoenix has invested approximately $72 million in equipment since 2023 through a major capital investment plan[9] - Phoenix has a weighted average contract life of approximately 6 years, providing stable cash flows[15]

Core Viewpoint - The acquisition of approximately 54.50% of Shanghai Winshun Electric Technology Co., Ltd. by Yapu Co., Ltd. for about 578 million yuan is aimed at enhancing Yapu's competitiveness in the automotive parts sector and leveraging synergies between the two companies [1][2]. Group 1: Acquisition Details - Yapu plans to use its own funds to acquire shares from various stakeholders of Winshun Technology, with a total transaction price of approximately 578 million yuan [1]. - The acquisition will make Yapu the controlling shareholder of Winshun Technology, which specializes in the research and production of rotary transformers and special motor products [1][2]. - The estimated valuation of Winshun Technology is approximately 1.06 billion yuan, based on an asset appraisal report that indicates a net asset value of 503 million yuan and an assessed value of 1.205 billion yuan, reflecting a 139.62% increase [2]. Group 2: Financial Performance - Winshun Technology reported revenues of 312 million yuan and 74.44 million yuan for the years 2024 and Q1 2025, respectively, with net profits of 54.72 million yuan and 14.10 million yuan for the same periods [3][4]. - Yapu's total revenue for 2024 was 8.076 billion yuan, a decrease of 5.91% year-on-year, while net profit increased by 7.29% to 500 million yuan [5][6]. - In Q1 2025, Yapu's revenue was 1.975 billion yuan, a 6.23% increase compared to the same period last year, with a net profit of 129 million yuan, reflecting a 0.90% increase [7][8].

Core Viewpoint - The company plans to acquire approximately 54.50% of Ying Shuang Technology for about 578 million yuan, enhancing its position in the automotive key components sector [1] Group 1: Acquisition Details - The acquisition involves purchasing shares from multiple entities, including Shanghai Feichi, Rongxiang Beiying, New Energy Investment, and others [1] - The transaction price is set at approximately 578 million yuan [1] - The acquisition has been approved by the company's fifth board of directors and does not require shareholder meeting approval [1] Group 2: Company Profile - Ying Shuang Technology specializes in the research and production of rotary transformers and special motor products, classified as a high-tech enterprise [1] - The acquisition aligns with the company's strategic focus on the automotive key components sector [1] Group 3: Strategic Implications - The transaction is expected to create significant synergies through complementary advantages between the company and Ying Shuang Technology [1]

Group 1 - Hong Kong Broadband (01310.HK) announced a voluntary conditional cash offer to acquire all issued shares at HKD 5.23 per share, representing a premium of approximately 40.97% over the closing price of HKD 3.71 on November 12, 2024 [1] - The offeror, China Mobile Hong Kong Limited, is fully owned by Fit Best Limited, which is in turn wholly owned by China Mobile, indicating a strategic move to strengthen its operations in Hong Kong [1] - Upon successful completion of the offer, Hong Kong Broadband will become an indirect subsidiary of China Mobile, which is dual-listed on the Hong Kong and Shanghai stock exchanges [1] Group 2 - The offer aims to unlock shareholder value through an attractive premium and provides a unique opportunity for shareholders to fully realize their investments in a currently uncertain market [2] - The offeror intends to support Hong Kong Broadband in addressing key issues such as debt management and interest expenses, thereby enhancing the company's financial position [2] - The offeror plans to leverage its industry expertise and resources to strengthen the competitive position of Hong Kong Broadband and expand its market share [2]

受此影响，今日（5月26日），日本制铁大涨，盘中涨幅一度超过7%。上周五（5月23日），美国钢铁股价尾盘直线拉升，最高触及54美元/股，涨幅一度 接近26%。 日本制铁、美国钢铁双双大涨。 当地时间5月23日，美国总统特朗普在社交媒体上发文，支持日本制铁收购美国钢铁公司。当地时间25日，特朗普就日本制铁公司对美国钢铁公司的收购 计划表示，虽然还不知道最终结果如何，但这将是一次投资，日本制铁取得部分所有权，美国钢铁仍将由美国控制。 特朗普：美国钢铁仍将由美国控制 当地时间25日，美国总统特朗普就日本制铁公司对美国钢铁公司的收购计划表示，虽然还不知道最终结果如何，但这将是一次投资，日本制铁取得部分所 有权，美国钢铁仍将由美国控制。 特朗普23日在社交媒体上表示，美国钢铁将继续留在美国，并将总部设在匹兹堡。这将是美国钢铁公司与日本制铁公司之间的一项计划中的合作，将带来 7万个就业岗位和140亿美元的经济效益，大部分投资将在接下来的14个月内完成。 特朗普称，将于5月30日在匹兹堡的美国钢铁公司举行集会。 投资者认为特朗普这番表态意味着日本制铁公司已获得其对这宗筹划已久的收购案的批准。 日本制铁公司：若收购案获批将向 ...

日本制铁、美国钢铁双双大涨。 当地时间5月23日，美国总统特朗普在社交媒体上发文，支持日本制铁收购美国钢铁公司。当地时间25日，特朗普就日本制铁公司对美国钢铁公司的收购计划表 示，虽然还不知道最终结果如何，但这将是一次投资，日本制铁取得部分所有权，美国钢铁仍将由美国控制。 受此影响，今日（5月26日），日本制铁大涨，盘中涨幅一度超过7%。上周五（5月23日），美国钢铁股价尾盘直线拉升，最高触及54美元/股，涨幅一度接近26%。 特朗普：美国钢铁仍将由美国控制 当地时间25日，美国总统特朗普就日本制铁公司对美国钢铁公司的收购计划表示，虽然还不知道最终结果如何，但这将是一次投资，日本制铁取得部分所有权，美 国钢铁仍将由美国控制。 特朗普23日在社交媒体上表示，美国钢铁将继续留在美国，并将总部设在匹兹堡。这将是美国钢铁公司与日本制铁公司之间的一项计划中的合作，将带来7万个就 业岗位和140亿美元的经济效益，大部分投资将在接下来的14个月内完成。 日本制铁公司：若收购案获批将向美钢大幅增加投资 5月21日是美国外国投资委员会重新审查日本制铁公司收购美国钢铁公司案的最后期限。据日本共同社20日报道，日铁方面已向美国政府 ...

Core Viewpoint - BP has been experiencing poor financial performance and declining stock prices, leading to speculation about potential acquisitions by major Western oil companies, although the likelihood of such acquisitions in the short term appears low [1][3]. Financial Status - BP's market capitalization has fallen to $78.1 billion, while its total assets, excluding liabilities, exceed $280 billion [3]. - The value of BP's oil and gas assets in the Gulf of Mexico and U.S. shale regions is estimated at $82 billion, surpassing the company's overall market value [3]. - BP carries a significant debt load of $77 billion, complicating potential acquisition scenarios [3]. Acquisition Considerations - Shell is seen as a potential acquirer, but concerns about market share leading to monopoly issues and the need for asset divestitures could delay any merger [3]. - Cultural differences between Shell and BP may require years for integration post-acquisition, and potential layoffs could create political pressure on the UK government [3]. - ExxonMobil and Chevron have expressed interest in acquiring BP, but face challenges related to U.S.-EU political dynamics and operational integration due to geographical distance [4]. - TotalEnergies and Abu Dhabi National Oil Company (ADNOC) are also mentioned as potential buyers, but TotalEnergies is currently focused on stock buybacks and may not pursue BP, while ADNOC faces similar political hurdles as U.S. companies [4].