Group 1 - The company Guangdong Dishengli Automotive Parts Co., Ltd. has approved a transaction involving the subscription of equity in a New Third Board company and the transfer of equity in its controlling subsidiary [1] - The transaction involves Guangdong Xinongren Agricultural Technology Group Co., Ltd. acquiring 76.80% of the equity in Guangdong Dishengli Green Food Co., Ltd. through a non-public issuance of shares [1] - The total consideration for the equity transaction is not specified, but the company will issue 33,805,682 shares as part of this deal [1] Group 2 - The transaction has received approval from the China Securities Regulatory Commission and the National Equities Exchange and Quotations, confirming compliance with major asset restructuring requirements [2] - Following the completion of the transaction, Guangdong Dishengli Green Food Co., Ltd. will no longer be a controlling subsidiary of the company and will not be included in the consolidated financial statements [1][2] - The company will hold a 20.20% stake in Guangdong Xinongren Agricultural Technology Group Co., Ltd. after the transaction [1]

经公司申请，公司股票自2025年9月1日(星期一)开市起开始停牌，预计停牌时间不超过10个交易日。 中芯国际(688981.SH)公告，公司正在筹划以发行人民币普通股(A股)的方式购买公司控股子公司中芯北 方集成电路制造(北京)有限公司("中芯北方")的49%股权("本次交易")。本次交易预计不构成重大资产重 组，不构成重组上市，但构成关联(连)交易。 ...

Investment Rating - The report maintains a rating of "Accumulate" for Huadian International [4] Core Views - The company reported a revenue of 59.953 billion yuan in the first half of 2025, a year-on-year decrease of 8.98%, while the net profit attributable to shareholders increased by 13.15% to 3.904 billion yuan [1][7] - The completion of asset injections is expected to enhance performance in the second half of the year [7] - The company plans to distribute an interim dividend of 0.09 yuan per share, with a payout ratio of 26.8% [7] Financial Data and Valuation - The total revenue for 2025 is estimated at 114.429 billion yuan, with a year-on-year growth of 1% [3] - The net profit attributable to shareholders is projected to be 6.534 billion yuan in 2025, reflecting a 15% year-on-year increase [3] - The current price-to-earnings (PE) ratio is 9.4, with projections of 8.6 in 2026 and 7.7 in 2027 [3][11] - The company’s total assets are expected to reach 226.263 billion yuan by 2025 [8] Performance Metrics - The company achieved a gross margin of 10.72% in the first half of 2025, an increase of 2.1 percentage points year-on-year [7] - The net profit margin was 8.26%, up by 1.16 percentage points year-on-year [7] - The return on equity (ROE) is projected to improve to 9.2% in 2025 [11] Operational Highlights - The company’s total installed capacity reached 77.4446 million kilowatts, a 29.5% increase compared to the end of 2024 [7] - The average on-grid electricity price was 516.8 yuan per megawatt-hour, a decrease of 1.44% year-on-year [7] - The company’s coal price decreased by 12.98% year-on-year to 850.74 yuan per ton, contributing to a reduction in fuel costs [7]

【导读】筹划发行 A 股购买中芯北方 49% 股权，中芯国际股票下周一停牌 中国基金报记者 李智 8 月 29 日晚间，中芯国际发布公告称，因筹划发行人民币普通股（ A 股）购买资产事项， 公司股票自 2025 年 9 月 1 日（星期一）开市起停牌，预计停牌时间不超过 10 个交易日。 筹划发行 A 股购买中芯北方 49% 股权 中芯国际股票停牌 8 月 29 日晚间，中芯国际发布公告称，公司正在筹划以发行人民币普通股（ A 股）购买公 司控股子公司中芯北方集成电路制造（北京）有限公司（以下简称中芯北方）的少数股权。 | 证券代码 证券简称 | | 停复牌类型 | 停牌起始日 | 停牌期间 停牌终止日 | 复牌日 | | --- | --- | --- | --- | --- | --- | | 688981 | 中芯国际 | Ａ 股 停牌 | 2025/9/1 | | | 中芯国际表示，本次交易预计不构成重大资产重组，不构成重组上市，但构成关联（连）交 易。 目前，中芯国际已与中芯北方少数股东的主要股东方签署《资产购买意向协议》，但具体交 易方案仍在商讨论证中，尚存在不确定性。 中芯国际提示称，本次交易事 ...

格隆汇8月29日｜中芯国际公告，公司正在筹划以发行人民币普通股（A股）的方式购买公司控股子公 司中芯北方集成电路制造（北京）有限公司的少数股权。根据相关法规，本次交易预计不构成重大资产 重组，不构成重组上市，但构成关联（连）交易。本次交易的标的资产为交易对方合计持有的中芯北方 49%的股权，公司已与中芯北方少数股东的主要股东方签署了《资产购买意向协议》。本次交易的具体 方案仍在商讨中，存在不确定性，需提交公司董事会、股东大会审议，并经监管机构批准后方可正式实 施。，公司股票自2025年9月1日（星期一）开市起开始停牌，预计停牌时间不超过10个交易日。 ...

本次交易预计不构成重大资产重组，不构成重组上市，但构成关联（连）交易。公司已与中芯北方少数股东的主要股东方签署《资产购买意向协 议》，但具体交易方案仍在商讨论证中，尚存在不确定性。 下载财联社APP获取更多资讯 中芯国际(688981.SH)公告称，因筹划发行人民币普通股（A股）购买公司控股子公司中芯北方集成电路制造（北京）有限公司的少数股权， 公司股 票自2025年9月1日开市起开始停牌，预计停牌时间不超过10个交易日。 | 公司名称 | 中芯北方集成电路制造(北京)有限公司 | | --- | --- | | 统一社会信用代码 | 91110302071737747W | | 法定代表人 | 刘训峰 | | 注册资本 | 480,000 万美元 | | 企业类型 | 有限责任公司(外商投资、非独资) | | 成立日期 | 2013年7月12日 | | 经营范围 | 半导体(硅片及各类化合物半导体)集成电路芯片的制造(含 | | | 线宽28 纳米及以下大规模数字集成电路制造)、针测及测试、 | | | 光掩膜制造、测试封装;与集成电路有关的开发、设计服务、 | | | 技术服务:销售自产产品。(市场主体依 ...

Core Viewpoint - The company is planning to issue RMB ordinary shares (A-shares) to acquire minority stakes in its subsidiary, SMIC North Integrated Circuit Manufacturing (Beijing) Co., Ltd. The stock will be suspended from trading starting September 1, 2025, for a period not exceeding 10 trading days. This transaction is not expected to constitute a major asset restructuring or a reorganization listing, but it will be classified as a related party transaction [1][4][5]. Group 1: Transaction Details - The transaction involves acquiring 49% of the equity held by minority shareholders in SMIC North [6][8]. - The registered capital of SMIC North is USD 480 million, and it was established on July 12, 2013 [6]. - The business scope of SMIC North includes manufacturing semiconductor integrated circuit chips, including large-scale digital integrated circuits with a line width of 28 nanometers and below [6]. Group 2: Stakeholders and Negotiations - The preliminary identified counterparties for the transaction include the National Integrated Circuit Industry Investment Fund Co., Ltd. (also known as "Big Fund Phase I"), Beijing Integrated Circuit Manufacturing and Equipment Equity Investment Center (Limited Partnership), Beijing E-Town International Investment and Development Co., Ltd., Zhongguancun Development Group Co., Ltd., and Beijing Industrial Development Investment Management Co., Ltd. [7]. - The final counterparties will be disclosed in the restructuring plan or report [7]. Group 3: Suspension of Trading - The company's stock (ticker: SMIC International, code: 688981) will be suspended from trading starting September 1, 2025, due to the planned issuance of A-shares for asset acquisition [3][4]. - The company will adhere to relevant laws and regulations regarding information disclosure during the suspension period and will announce the resumption of trading once the transaction details are finalized [5].

Core Insights - *ST Weir has achieved significant performance improvement in the first half of 2025, with a remarkable net profit increase of 2395.68% year-on-year, reaching 177 million yuan, due to major asset restructuring and a strategic focus on core business [1][2] Group 1: Financial Performance - The company completed the sale of its automation instruments and meters business, optimizing its asset structure and allowing for resource concentration on core operations [1] - Despite a decline in operating revenue due to business adjustments, the net profit attributable to shareholders surged significantly [1] Group 2: Strategic Focus - Post divestiture, *ST Weir is fully concentrating on the automotive gauge manufacturing industry, leveraging the technical advantages and market position of its wholly-owned subsidiary, Shanghai Ziyan Mould [1] - The automotive gauge business has emerged as a new profit growth point for the company, driven by high-quality products and continuous technological innovation [1] Group 3: Operational Efficiency - The company has implemented measures to strengthen cost control, enhance production efficiency, and improve supply chain management, effectively reducing operational costs [1] - There is a strong emphasis on talent development and recruitment, creating a high-quality, professional team to support sustainable growth [1] Group 4: Future Outlook - *ST Weir plans to continue focusing on the automotive gauge manufacturing sector, aligning with industry trends and increasing efforts in technological innovation and market expansion [2] - The company's strong performance in the first half of 2025 lays a solid foundation for future development, with promising prospects in the growing automotive industry [2]

Group 1 - The company is progressing with the asset restructuring project to acquire 100% equity of Huangpu Hotel from a tourism group, which has been accepted by the Shanghai Stock Exchange [2] - The restructuring aims to add a new hotel business segment and further expand the tourism industry chain [2] - A wholly-owned subsidiary, Nanlv Hotel Management, has been established to enhance hotel operations and management capabilities, with a core team already formed [2] Group 2 - The company plans to develop hotel operations through various models such as leasing, entrusted management, and brand franchising to strengthen overall operational capacity [2]

Group 1 - The company, Guangdong Dishengli Auto Parts Co., Ltd., has approved a transaction involving the subscription of shares in a New Third Board company and the transfer of equity in its subsidiary [2] - The transaction involves Guangdong Xinongren Agricultural Technology Group Co., Ltd. acquiring 76.80% of the equity in Guangdong Dishengli Green Food Co., Ltd. for a total consideration of RMB 96,346,193.70, with a share price of RMB 2.85 [2] - Following the completion of the transaction, the Green Food Company will no longer be a subsidiary of Dishengli and will instead become a subsidiary of Xinongren, with Dishengli holding 20.20% of Xinongren's shares [2] Group 2 - On August 28, 2025, Xinongren received approval from the National Equities Exchange and Quotations for the issuance of shares to purchase assets, confirming compliance with regulatory requirements [3]