8月12日晚间，衢州发展（600208）披露重组预案，公司股票将于8月13日开市起复牌。 预案显示，衢州发展拟通过发行股份的方式购买先导电科95.4559%股份，并募集配套资金。标的公司 100%股权预估值不超过120亿元。截至预案签署日，本次交易标的资产的审计、评估工作尚未完成，标 的资产交易价格尚未确定。 衢州发展表示，本次交易预计不构成重大资产重组、构成关联交易、不构成重组上市。通过本次重组， 标的公司主营业务将有力充实上市公司业务链条，扩展上市公司主营业务范围，直接提供上市公司在先 进新材料领域的实体制造业务发展平台，进一步推动上市公司业务结构向硬科技实体制造转型。 （文章来源：北京商报） ...

答：您好，公司自筹划本次重大资产重组以来，积极推进 本次交易，鉴于交易各方在对本次交易进行充分协商和谈判 后，未就交易核心条款达成一致，经公司与交易对方友好协商、 审慎研判后，公司决定终止本次发行股份及支付现金购买资产 事宜。公司未来将继续围绕战略发展规划积极寻求更好的发展 机会，有效提升公司经营业绩，切实维护广大股东利益。感谢 您的关注。 证券代码：300542 证券简称：新晨科技 新晨科技股份有限公司 投资者关系活动记录表 编号：2025-003 | | □特定对象调研 □分析师会议 | | --- | --- | | 投资者关系 | □媒体采访 □业绩说明会 | | | □新闻发布会 □路演活动 | | 活动类别 | □现场参观☑其他（终止发行股份及支付现金购买资产并募集 | | | 配套资金暨关联交易事项的投资者说明会） | | 参与单位名称及 | 线上参与公司终止发行股份及支付现金购买资产并募集配套 | | 人员姓名 | 资金暨关联交易事项的投资者说明会的全体投资者 | | 时间 | 2025 年 8 月 12 日 | | 地点 | 公司会议室、全景网"投资者关系互动平台" | | | （http: ...

Core Viewpoint - The company, Huangting International, is facing a severe financial crisis due to a significant decline in its real estate business and a failed transition to the semiconductor industry, resulting in cumulative losses exceeding 4.4 billion yuan over the past five years [1][4]. Group 1: Financial Performance - Huangting International has reported continuous losses since 2020, with net profits of -292 million yuan, -1.157 billion yuan, -1.231 billion yuan, -1.127 billion yuan, and -640 million yuan from 2020 to 2024, totaling over 4.4 billion yuan in losses [4]. - The company anticipates a loss of 140 million to 200 million yuan for the first half of 2025, primarily due to increased financing costs from litigation related to existing loans [4]. - As of the end of the first quarter, the company's cash reserves were only 91.93 million yuan, with short-term borrowings and current liabilities totaling 4.013 billion yuan, leading to a high debt-to-asset ratio of 97.12% and a net asset value of only 276 million yuan [6]. Group 2: Core Asset and Debt Issues - The core asset, Shenzhen Huangting Plaza, has a book value of 5.75 billion yuan, accounting for 71.57% of the company's total assets, and generated revenue of 370 million yuan in 2024, representing 56.03% of total revenue [2]. - The asset is set to be auctioned due to a 3 billion yuan loan secured against it, which has been overdue since 2021, triggering judicial seizure by the creditor [2][3]. - The company has attempted debt restructuring and asset sales, but efforts to sell the 100% stake in its subsidiary have failed, with the asking price dropping from 7.493 billion yuan to 5.62 billion yuan without finding a buyer [2][3]. Group 3: Semiconductor Transition Failure - Huangting International's attempt to diversify into the semiconductor sector has exacerbated its financial troubles, with the acquisition of a 27.81% stake in Yifa Power Semiconductor Co., resulting in a goodwill impairment of 154 million yuan due to continuous losses from the subsidiary [4][5]. - The semiconductor subsidiary reported a gross profit of -15.385 million yuan and -9.847 million yuan for 2023 and 2024, respectively, with total revenue plummeting from 151 million yuan in 2022 to 72.67 million yuan in 2024 [5].

二、董事会议案审议情况 证券代码：688291 证券简称：金橙子 公告编号：2025-034 北京金橙子科技股份有限公司 第四届董事会第十四次会议决议公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 一、会议召开和出席情况 北京金橙子科技股份有限公司（以下简称"公司"或"上市公司"）第四届董事 会第十四次会议于2025年8月12日以通讯表决的方式召开。本次会议的通知已于 主持，应出席董事9人，实际出席董事9人，高级管理人员列席。会议的召集和召 开程序符合《中华人民共和国公司法》、《中华人民共和国证券法》等法律、法 规、部门规章以及《北京金橙子科技股份有限公司章程》（以下简称"《公司章 程》"）的有关规定，会议做出的决议合法、有效。 会议经表决形成如下决议： (一) 审议通过《关于公司符合发行股份及支付现金购买资产并募集配套 资金条件的议案》 本次交易发行股份的交易对方为汪永阳、黄猛、许广英、王璞玉、王健丞、 王琳、陈亮、郭春伟等 8 名交易对方。 公司拟以发行股份及支付现金的方式购买长春萨米特光电科技有限公司（以 下简 ...

北京金橙子科技股份有限公司董事会 关于本次交易符合《上市公司监管指引第 9 号——上市公司 筹划和实施重大资产重组的监管要求》第四条规定的说明 北京金橙子科技股份有限公司（以下简称"公司"）正在筹划以发行股份及 支付现金的方式购买长春萨米特光电科技有限公司（以下简称"标的公司"）的 公司董事会经审慎分析，认为本次交易符合《上市公司监管指引第 9 号—— 上市公司筹划和实施重大资产重组的监管要求》第四条规定，具体情况如下： 为股权类资产，上市公司实施本次交易不涉及立项、环保、行业准入、用地、规 划、建设施工等有关报批事项。公司已在《北京金橙子科技股份有限公司发行股 份及支付现金购买资产并募集配套资金预案》中详细披露了本次交易向有关主管 部门报批的进展情况和尚需呈报批准的程序，并对可能无法获得批准的风险作出 了特别提示； 让的情形。截至本公告日，交易对方王健丞已实缴出资；汪永阳、黄猛、许广英、 王璞玉、陈亮、王琳、郭春伟等 7 人尚未完成实缴，但已承诺在本次交易的交割 日前完成实缴出资。标的公司不存在出资不实或者影响其合法存续的情况，本次 交易的标的资产过户至上市公司不存在法律障碍； 资产、财务、人员、机构等方面 ...

Core Viewpoint - The company is planning to acquire a 55.00% stake in Changchun Samit Optoelectronics Technology Co., Ltd. through a combination of issuing shares and cash payment, along with raising supporting funds for this transaction [1]. Summary by Relevant Sections Stock Price Fluctuation - The company's stock was suspended from trading on July 31, 2025, due to the planning of a major asset restructuring. The closing price on July 2, 2025, was 29.72 CNY per share, and the closing price on July 30, 2025, was 33.39 CNY per share, resulting in a cumulative price change of 12.35% [1]. - The cumulative price changes for the company's stock (688291.SH), the Sci-Tech 50 Index (000688.SH), and the CSRC Software Information Technology Service Index (883169.WI) over the 20 trading days prior to the suspension are as follows: - Closing price on July 2, 2025: 29.72 CNY; closing price on July 30, 2025: 33.39 CNY; cumulative change: 12.35% [1]. - Sci-Tech 50 Index: from 982.64 to 1,058.57, a change of 7.73% [1]. - Excluding market factors, the cumulative change was 4.62% [1]. - Excluding industry factors, the cumulative change was 5.49% [1]. - The cumulative price change of the company's stock did not exceed 20% in the 20 trading days prior to the suspension, indicating that there were no abnormal fluctuations in stock trading [1].

Group 1: Company Performance and Strategy - The company has announced an investment in a production line for 3 million high-voltage glass insulators to enhance its core business competitiveness [1] - The company aims to focus on its main business while actively seeking quality acquisition opportunities to continuously improve its overall strength [2] - The company reported a profit in the previous two years but has started incurring losses this year, prompting a focus on performance improvement [1] Group 2: Termination of Major Asset Restructuring - The termination of the major asset restructuring was due to the inability of all parties to reach an agreement on key terms within the specified timeframe [3] - The company has stated that the termination will not significantly impact its existing operations and development in the glass insulator sector [2] - The company has no current plans to restart the major asset restructuring but will evaluate potential opportunities based on industry prospects and financial performance [4] Group 3: Investor Communication and Market Response - The company has adhered to information disclosure regulations and promptly fulfilled its obligations following the termination announcement [2] - There was a notable stock price fluctuation on August 6, attributed to high market expectations regarding the restructuring, which the company addressed in its announcements [4] - The company encourages investors to remain rational and aware of market risks following the recent developments [4]

Core Viewpoint - The auction of the Shenzhen Huangting Plaza, a key asset of Huangting International, is set to take place on September 9, with a starting price significantly reduced compared to previous valuations, reflecting the company's financial distress and the impact of debt obligations [2][5][6]. Group 1: Auction Details - Huangting Plaza, located in the central business district of Shenzhen, has an estimated value of approximately 4.36 billion yuan, with a starting auction price of about 3.05 billion yuan [2]. - The auction is a result of a legal dispute stemming from a 30 billion yuan loan taken by Huangting International's subsidiary, which could not be repaid due to policy changes and subsequent legal actions [4][6]. Group 2: Financial Implications - The asset's auction could lead to significant changes in Huangting International's financial structure, as the plaza represents 71.57% of the company's total assets and contributes 56.03% of its annual revenue [6][7]. - If the auction is successful, Huangting International may face a risk of being flagged for potential delisting due to financial performance metrics, as the remaining revenue after the plaza's contribution would fall below the required thresholds [7]. Group 3: Debt Resolution Efforts - Huangting International is currently in discussions with creditors to negotiate a comprehensive debt resolution plan, which may lead to the cancellation of the auction if an agreement is reached [8].

Core Viewpoint - Xinchen Technology has decided to terminate the issuance of shares and cash payment for the acquisition of assets and related fundraising due to a lack of consensus on core transaction terms among the parties involved [1][8]. Group 1: Transaction Details - The company planned to acquire 96.9628% of Beijing Tianyi Enhua Technology Co., Ltd. through a combination of share issuance and cash payment, making Tianyi Enhua a controlling subsidiary post-transaction [1][2]. - The transaction involved issuing shares to no more than 35 specific investors to raise supporting funds [1][6]. - The share issuance price was set to be no less than 80% of the average trading price over the previous 20 trading days, which amounted to 15.16 yuan per share [6][7]. Group 2: Financial Performance - Tianyi Enhua's revenue from 2022 to the first nine months of 2024 was reported as 510.40 million yuan, 600.35 million yuan, and 417.20 million yuan, with net profits of 125.79 million yuan, 100.84 million yuan, and 99.26 million yuan respectively [9]. - Xinchen Technology's revenue from 2020 to 2023 was 1.149 billion yuan, 1.061 billion yuan, 1.455 billion yuan, and 1.735 billion yuan, with net profits of 68.28 million yuan, 63.60 million yuan, 52.13 million yuan, and 36.36 million yuan respectively [9]. - For 2024, Xinchen Technology anticipates a net loss attributable to shareholders ranging from 65 million to 88 million yuan, compared to a profit of 36.36 million yuan in the previous year [9]. Group 3: Regulatory and Structural Aspects - The transaction was expected to meet the criteria for a significant asset restructuring as per the restructuring management measures, but it would not change the actual control of the company [8]. - The company will remain without a controlling shareholder or actual controller post-transaction, with the largest shareholder still being Li Fuhua [8].

中国经济网北京8月12日讯上交所网站昨日晚间披露上海证券交易所并购重组审核委员会2025年第10次 审议会议结果公告。深圳至正高分子材料股份有限公司(简称"至正股份（603991）"，603991.SH)发行 股份购买资产符合重组条件和信息披露要求。 重组委会议现场问询的主要问题： 1.请上市公司代表说明：AAMI市场法评估选取可比公司考量因素的合理性，是否符合准则相关规定以 及行业惯例，估值是否公允。请独立财务顾问代表和评估师代表发表明确意见。 2.请上市公司代表结合行业发展、可比公司情况、至正新材料历史估值、近年生产经营情况、未来发展 趋势、评估方法选取的主要考虑等，说明置出资产估值合理性。请独立财务顾问代表和评估师代表发表 明确意见。 3.请上市公司代表：(1)结合应收款项、存货和销售商品、提供劳务收到的现金等项目的变动情况，说明 AAMI2024年收入确认是否准确。(2)结合寄售业务合同约定，存货管理方式和责任，存货结转、盘点及 余额变动等情况，说明寄售模式下相关内部控制是否健全有效。请独立财务顾问代表和会计师代表发表 明确意见。 需进一步落实事项： 上市公司拟通过重大资产置换、发行股份及支付现金的方 ...