Group 1 - The company plans to acquire 100% of Shenzhen Chengxin Micro Technology Co., Ltd. through a combination of issuing shares and cash payment, along with raising supporting funds [1][2] - The transaction is subject to multiple conditions, including approval from the Shanghai Stock Exchange and registration consent from the China Securities Regulatory Commission [2] - The company emphasizes the importance of fair information disclosure to protect investor interests and will provide updates on the transaction's progress in accordance with relevant laws and regulations [2]

Group 1 - The core point of the news is that China Shipbuilding Industry Co., Ltd. has successfully obtained approval from the Shanghai Stock Exchange for the merger and acquisition of China Shipbuilding Industry Corporation, which will lead to the termination of the latter's listing and the transfer of all assets, liabilities, and rights to the former [1] - Following the merger, China Shipbuilding is expected to become the largest publicly listed shipbuilding company globally, with a projected market value exceeding 250 billion yuan and total assets surpassing 400 billion yuan [1] - As of July 4, the market capitalization of China Shipbuilding was 146.7 billion yuan, while that of China Shipbuilding Industry Corporation was 105.6 billion yuan [1] Group 2 - The merger process began with China Shipbuilding Industry Corporation announcing a major asset restructuring on September 2, 2024, which involved a share swap to absorb China Shipbuilding Industry Corporation [2] - The confirmed share swap ratio was 1:0.1339, with the adjusted share prices being 37.59 yuan per share for China Shipbuilding and 5.032 yuan per share for China Shipbuilding Industry Corporation, resulting in a total transaction value of 115.15 billion yuan [2]

Core Viewpoint - The special audit report for Wuxi Micro Research Co., Ltd. indicates that the financial statements for the transition period ending April 30, 2025, fairly reflect the company's financial position and operating results during the specified period [1][2][3]. Group 1: Audit Opinion - The audit opinion states that the financial statements were prepared in accordance with the relevant accounting standards and provide a fair representation of the company's financial status as of April 30, 2025 [1][2]. - The report emphasizes that the financial statements are intended solely for the purpose of asset acquisition by Ningbo Jingda Forming Equipment Co., Ltd. and should not be used for any other purpose [2][3]. Group 2: Management and Governance Responsibilities - The management of Wuxi Micro Research Co., Ltd. is responsible for preparing the financial statements in accordance with accounting standards and ensuring that they are free from material misstatements due to fraud or error [2][3]. - The governance body is tasked with overseeing the financial reporting process of the company [3]. Group 3: Basis for Audit Opinion - The audit was conducted in accordance with Chinese CPA auditing standards, and sufficient evidence was obtained to support the audit opinion [2][3]. - The report outlines the responsibilities of the auditors, including assessing risks of material misstatement and evaluating the appropriateness of accounting policies used by management [3][4]. Group 4: Financial Reporting and Transition Period - The transition period for the financial statements is defined as May 1, 2024, to April 30, 2025, during which the company’s assets and liabilities were measured at fair value [9][12]. - The financial statements include a consolidated balance sheet and profit and loss statement for the transition period, reflecting the company's operational results and net asset changes [12][13]. Group 5: Company Background and Ownership Structure - Wuxi Micro Research Co., Ltd. was established in 1994 and has undergone several changes in ownership and capital structure, with the current registered capital being 100 million RMB [7][8]. - As of April 30, 2025, Ningbo Jingda Forming Equipment Co., Ltd. holds 100% of the shares in Wuxi Micro Research Co., Ltd. following a series of equity transfers [8][9]. Group 6: Financial Policies and Estimates - The company has established specific accounting policies and estimates related to accounts receivable, inventory, fixed asset depreciation, and revenue recognition [13][14]. - The financial statements adhere to the principle of materiality, ensuring that significant information is disclosed appropriately [15][16].

Group 1 - The company announced the termination of its plan to issue shares and pay cash to acquire assets and raise matching funds, which was initially aimed at purchasing 100% of the shares of a target company, Xian Dao Electronics Technology Co., Ltd. [1][3] - The decision to terminate the restructuring was made after careful consideration due to changes in the external environment and disagreements on certain commercial terms with some transaction parties [3] - The company emphasized that its production and operations remain normal, and it will continue to seek development opportunities in the future while maintaining shareholder interests [3] Group 2 - Following the announcement of the acquisition plan in October 2023, the company's stock experienced a continuous rise, hitting the limit up for eight consecutive trading days [3][4] - The target company, Xian Dao Electronics, is valued at over 20 billion, while the company's total market capitalization was approximately 3.136 billion as of September 27, 2024 [4]

Group 1 - Qin'an Co. is planning to acquire 99% of Yigao Company through a combination of share issuance and cash payment, leading to a stock suspension starting June 30, 2025, for up to 10 trading days [3] - Shijia Photon is also planning to acquire the controlling stake in Fuke Xima through share issuance and cash payment, with a similar stock suspension starting June 30, 2025, for up to 10 trading days [4] - ST Jinjing will enter a delisting arrangement starting June 30, 2025, following a decision from the Shanghai Stock Exchange, with a trading period of 15 days before delisting [5] Group 2 - Huahai Qingke plans to invest up to 500 million yuan in expanding its wafer recycling project, with an initial capacity of 200,000 pieces per month and a total planned capacity of 400,000 pieces per month [2] - Wufangzhai intends to repurchase shares worth between 35 million and 70 million yuan for employee stock ownership plans or equity incentives, with a maximum repurchase price of 29.12 yuan per share [2] - Binhai Group has successfully acquired two plots of state-owned construction land use rights for a total price of 32.65 billion yuan and 11.03 billion yuan, designated for residential use [8] Group 3 - Sanda Diwei's controlling shareholder plans to transfer 24.59% of the company's shares to Shandong High-speed Group, which may lead to changes in the controlling shareholder and actual controller [1] - Chuanxing Precision's major shareholder's 15.05% stake is set to be auctioned, which could result in a change of control if the shares are fully sold [9] - Guoen Co. has submitted an application for H-share issuance and listing on the Hong Kong Stock Exchange [9]

Core Viewpoint - The Shanghai Stock Exchange's M&A Review Committee has approved the asset purchase by ChipLink Integrated Circuit Manufacturing Co., Ltd., indicating that the transaction meets restructuring conditions and information disclosure requirements [1] Group 1: Transaction Details - ChipLink plans to acquire a 72.33% stake in ChipLink Yuezhou from 15 parties, including Binhai ChipXing and Yuan Zhi No.1, through a combination of issuing shares and cash payment [3][4] - The total transaction price for the 72.33% stake is approximately 589.66 million yuan, with an assessed value of 815.2 million yuan for 100% of ChipLink Yuezhou, reflecting a 132.77% increase in value [3][6] - The share issuance price is set at 4.04 yuan per share, with a total of approximately 1.31 billion shares to be issued [3] Group 2: Financial Performance of ChipLink Yuezhou - ChipLink Yuezhou reported revenues of 13.66 million yuan in 2022, 156.03 million yuan in 2023, and 179.80 million yuan for the first ten months of 2024 [6][7] - The net profit attributable to the parent company was -70.04 million yuan in 2022, -111.57 million yuan in 2023, and -86.78 million yuan for the first ten months of 2024, indicating ongoing losses [6][7] - The company is currently in a loss-making position and is not expected to achieve profitability in the short term, which may dilute immediate return indicators for the parent company [6]

Group 1 - The main financing method for listed companies this year remains private placements, with 70 companies completing placements by June 22, raising a total of 580.95 billion yuan, a year-on-year increase of 529.39% [1] - The top five sectors for fundraising through private placements include banking, non-bank financials, public utilities, defense and military, and basic chemicals, with three banks raising a total of 415 billion yuan [1] - Major state-owned banks, such as Bank of China and Bank of Communications, have significantly contributed to the increase in private placement scale, with Bank of China raising 165 billion yuan and Bank of Communications raising 120 billion yuan [1] Group 2 - The majority of private placements are subscribed by institutional investors and natural persons, with nine companies having their entire placements subscribed by major shareholders this year [2] - The recovery of the private placement market is supported by policy initiatives, including the China Securities Regulatory Commission's merger guidelines released in September last year, which have revitalized the market [2] - The active period of mergers and acquisitions among A-share listed companies is becoming an important investment theme, allowing investors to participate in quality M&A transactions through private placements [2]

每经记者｜范芊芊 每经编辑｜张海妮 并购重组 红棉股份：拟9028万元收购亚洲食品40%股权并接受60%表决权委托 红棉股份公告称，公司拟以9028.04万元收购广州市南业营元投资咨询有限公司持有的广州市亚洲牌食 品科技有限公司（以下简称亚洲食品）40%股权，同时接受广州鹰金钱食品集团有限公司所拥有的亚洲 食品60%表决权委托。交易完成后，红棉股份将持有亚洲食品100%表决权，成为其控股股东。公司本 次收购亚洲食品股权，有利于进一步扩大公司饮料板块业务规模，提升公司核心竞争力，同时规范公司 与控股股东轻工集团部分业务存在的同业竞争问题。 国投中鲁：拟购买电子院控股权 国投中鲁公告称，公司拟向国家开发投资集团有限公司等相关方发行股份购买中国电子工程设计院股份 有限公司控股权，同时向不超过35名符合条件的特定对象发行股份募集配套资金。预计本次交易构成重 大资产重组，公司股票于2025年6月24日开市起继续停牌，预计合计停牌时间不超过10个交易日。 华升股份：发布交易预案，拟购买易信科技100%股份 华升股份公告称，公司拟通过发行股份及支付现金购买深圳易信科技股份有限公司100%股份，并募集 配套资金。标的公司主营 ...

Core Viewpoint - The article emphasizes the increasing importance of equity transactions and the complexities of tax regulations, highlighting the need for specialized guidance and practical training to manage tax risks effectively in equity transfer and corporate restructuring [1]. Group 1: Event Overview - The event titled "Equity Transactions and Equity Structure Design: Tax Risk Inspection and Real Case Simulation" will be held on June 28-29, 2025, in Shanghai [1][6]. - The training aims to equip participants with systematic skills in equity structure design and optimization for sustainable business development [1]. Group 2: Course Details - The course will be conducted by Ju Ming, a senior tax lecturer with extensive experience in capital taxation and corporate restructuring [3][5]. - The course fee is set at 2980 yuan per person, with a mid-year discount of 2580 yuan, covering course materials but excluding travel, meals, and accommodation [8][6]. Group 3: Course Agenda - The course will cover various topics, including: 1. Tax risks in equity transactions and mergers under new regulatory conditions [12]. 2. Key points and scenarios for designing four types of equity structures [12]. 3. Tax treatment of five types of equity holdings and disposals [13]. 4. Analysis of six equity transaction models and compliance with tax regulations [14]. 5. Practical exercises and tax planning for seven types of mergers and acquisitions [15]. Group 4: Learning Outcomes - Participants will learn to build a robust tax risk defense for capital operations, ensuring safety, efficiency, and compliance [16]. - The training will provide insights into the core tax risks associated with the equity lifecycle and practical tools for risk identification and inspection [16].

Summary of Key Points Core Viewpoint The report outlines the independent financial advisory opinion regarding the acquisition of assets by Xinjiang Baodi Mining Co., Ltd. through the issuance of shares and cash payment, along with the associated fundraising and related party transactions. Group 1: Transaction Overview - The transaction involves issuing shares and cash to acquire 87% equity in Xinjiang Congling Energy Co., Ltd. from two parties: 82% from Kexin Congling Industrial Co., Ltd. and 5% from JAAN Investments Co., Ltd. [5] - The total transaction price for the 87% equity is approximately 68,512.50 million RMB, with cash payment of 8,937.50 million RMB and share issuance of 59,575.00 million RMB [5][6]. Group 2: Financial Impact - Post-transaction, the total assets of the company are projected to increase from 653,127.28 million RMB to 773,057.87 million RMB, reflecting an 18.36% growth [7]. - The company's net profit attributable to shareholders is expected to rise from 13,829.89 million RMB to 20,931.56 million RMB, indicating a 51.35% increase [7]. - The basic earnings per share is anticipated to improve from 0.17 to 0.23, a 35.29% increase [8]. Group 3: Strategic Benefits - The acquisition will enhance the company's iron ore resource volume from 3.8 billion tons to approximately 4.6 billion tons, a 21.75% increase, thereby strengthening its operational capabilities [6][7]. - The transaction aligns with the company's core business of iron ore mining and processing, providing synergies and expanding its market presence in Xinjiang [5][6]. Group 4: Regulatory Compliance - The transaction has undergone necessary decision-making processes, including independent board meetings and compliance with relevant laws and regulations [7][8]. - The company has committed to protecting the rights of minority investors through strict adherence to information disclosure obligations and fair pricing practices [7][8].