Core Viewpoint - Shenzhen Zhongjin Lingnan Nonfemet Company Limited (hereinafter referred to as "Zhongjin Lingnan") announced that its controlling shareholder, Guangdong Guangsheng Holding Group Co., Ltd. (hereinafter referred to as "Guangsheng Holding"), has issued a commitment letter regarding the non-reduction of company shares during a specific period related to the issuance of A-shares in 2025 [1][2] Group 1: Event Background - Zhongjin Lingnan's board approved a proposal for a targeted issuance of A-shares on March 3, 2025, with Guangsheng Holding as the core subscriber, committing to fully subscribe to the new shares with cash [2] - The commitment letter aims to clarify the lock-up period and reduction arrangements for the newly issued shares, ensuring the smooth progress of the fundraising [2] Group 2: Commitment Details - Guangsheng Holding confirmed that it has not reduced its holdings in Zhongjin Lingnan shares in the six months prior to the pricing benchmark date, ensuring fairness in the pricing of the new shares [3] - The commitment includes a lock-up period extending from the pricing date to six months after the issuance, indicating a long-term support strategy for the company's development [3] Group 3: Violation Constraints - Guangsheng Holding established a breach handling mechanism, stating that any profits from the transfer of newly subscribed shares would belong to Zhongjin Lingnan if the non-reduction commitment is violated [4] Group 4: Market Impact Analysis - The full subscription and extended lock-up commitment from the controlling shareholder signal strong confidence in Zhongjin Lingnan's operational fundamentals and long-term prospects, which is seen as a positive market signal [5] - The commitment helps stabilize market expectations and reduces investor concerns about potential sell-offs after the lock-up period, which is crucial for the stability of current stock prices and the successful implementation of the fundraising [5] - As a significant player in the nonferrous metals industry, Zhongjin Lingnan's performance is closely tied to commodity prices and downstream demand, and the controlling shareholder's actions may reflect optimism about industry recovery and the company's competitiveness [5]

Core Viewpoint - The company, Daily Interactive (300766), announced on October 24 that it will adopt a competitive bidding method for its upcoming private placement, with the final issuance targets and pricing yet to be determined [1] Group 1 - The company is currently unable to confirm the issuance targets and pricing for the private placement [1] - The final issuance targets and pricing will be determined after obtaining approval from the China Securities Regulatory Commission [1] - The determination will be based on investor bidding and subscription conditions, negotiated through a market-oriented mechanism with the lead underwriter [1]

在市场行情回暖带动下，公募机构参与上市公司定向增发获得丰厚回报。公募排排网数据显示，按定增 上市日统计，截至2025年10月22日，今年以来共有37家公募机构参与18个申万一级行业中的74家A股公 司定增，合计获配金额达302.92亿元，较去年同期的235.73亿元相比，增幅28.50%。按当日收盘价统 计，目前公募定增浮盈金额达108.45亿元，整体浮盈比例达35.80%。 具体来看，今年以来公募定增个股覆盖18个申万一级行业，15个行业公募定增获配金额不低于1亿元， 其中6个行业公募定增获配金额4亿—9.99亿元，另外9个行业公募定增获配金额不低于10亿元。电子行 业个股定增最受公募机构青睐，公募机构参与寒武纪、盛美上海、芯原股份、胜宏科技等13只电子行业 个股定增，合计获配金额达89.86亿元。紧随其后的是医药生物行业，公募机构参与该行业中的百利天 恒、迪哲医药等6只个股定增，合计获配金额达45.18亿元。此外，公募机构参与电力设备、基础化工和 有色金属行业定增获配金额均超10亿元。 公募参与定增的18个申万一级行业目前均实现浮盈，其中参与13个行业定增浮盈比例介于10%—50%之 间，更有3个行业浮盈 ...

Summary of Key Points Core Viewpoint - In 2023, a total of 119 companies have implemented private placements, raising a cumulative amount of 797.84 billion yuan, indicating a significant trend in capital raising through equity financing [1][2]. Group 1: Company Fundraising - The company with the highest fundraising amount is Bank of China, raising 165 billion yuan, followed by Postal Savings Bank and Bank of Communications with 130 billion yuan and 120 billion yuan respectively [2]. - The top five companies by fundraising amount include: 1. Bank of China: 1650.00 million yuan 2. Postal Savings Bank: 1300.00 million yuan 3. Bank of Communications: 1200.00 million yuan 4. China Construction Bank: 1050.00 million yuan 5. Guolian Minsheng: 314.92 million yuan [2][3]. Group 2: Industry Distribution - The industries with the most companies implementing private placements include electronics (20 companies), electrical equipment (15 companies), and basic chemicals (12 companies) [1]. - The industries with the highest fundraising amounts are banking (520 billion yuan), non-bank financials (506.84 billion yuan), and electronics (488.36 billion yuan) [1]. Group 3: Fundraising Amount Distribution - There are 9 companies that raised over 10 billion yuan, 10 companies raised between 5 billion and 10 billion yuan, and 55 companies raised less than 1 billion yuan, with 32 companies raising less than 500 million yuan [1]. - The distribution of fundraising amounts shows a significant number of smaller placements, indicating a diverse range of capital needs among companies [1]. Group 4: Premium and Discount Analysis - Among the implemented placements, 122 records show a premium of the latest closing price over the placement price, with the highest premiums recorded by companies such as AVIC (919.17%), Dongshan Precision (514.41%), and Roborock (456.20%) [2][3]. - Conversely, 10 records show a discount, with the largest discounts seen in companies like Shen High-Speed (21.06%), AVIC Heavy Machinery (20.90%), and Bank of Communications (16.10%) [4].

Core Viewpoint - Northern International (000065) has received approval from the Shenzhen Stock Exchange for its issuance of securities to specific investors [1] Group 1: Issuance Details - The company plans to issue A-shares to no more than 35 specific investors, including various financial institutions and qualified investors [3] - The pricing benchmark for the issuance will be set at no less than 80% of the average trading price over the 20 trading days prior to the issuance date [3] - The total number of shares to be issued will not exceed 105,032,822 shares, which is capped at 30% of the company's total share capital prior to the issuance [3][6] Group 2: Fundraising Purpose - The total amount to be raised from this issuance is capped at 960 million yuan, which will be allocated to the Bosnia Komanyan Mountain 125MWp photovoltaic project and to supplement working capital [4][5] - The total investment for the Bosnia project is approximately 75.45 million yuan, with 72.44 million yuan expected to be funded from the issuance [5] Group 3: Shareholding Structure - As of June 30, 2025, the company directly holds 40.31% of Northern International's shares and indirectly holds 11.70% through Northern Technology, totaling 52.01% [6] - The actual controller of the company remains unchanged, with the State-owned Assets Supervision and Administration Commission of the State Council as the ultimate controller [6]

进入10月，定增市场延续回暖态势，公募基金的参与热情持续升温。 证券时报记者注意到，随着医药、科技、高端制造等高景气赛道的定增项目密集落地，头部公募与知名 基金经理频频出手，机构资金正加速流向优质成长型企业。 从下半年多起定增案例来看，多位知名基金经理参与的项目已实现浮盈。业内人士表示，随着市场情绪 修复、企业融资需求释放以及机构资金的再配置需求增强，定增正成为公募重点布局的重要方向之一。 寒武纪主营应用于各类云服务器、边缘计算设备、终端设备中人工智能核心芯片的研发、设计和销售， 主要产品包括云端智能芯片及板卡、智能整机、边缘智能芯片及板卡等。股价方面，寒武纪在去年大涨 近3.9倍的情况下，今年以来依然强势，年内涨幅超过117%，最新总市值为6028亿元。 10月17日，胜宏科技发布定增上市公告，发行价格为248.02元/股，募集资金约19亿元，对应认购总股 份数量约766万股。 胜宏科技此次定增共吸引了10家机构认购，包括兴证全球基金、睿远基金等。证券时报记者注意到，参 与定增的知名基金经理和产品包括乔迁的兴全新视野、兴全商业模式优选，谢治宇的兴全社会价值三年 持有、兴全合宜，傅鹏博的睿远成长价值等。 胜宏 ...

证券时报记者王小芊 进入10月，定增市场延续回暖态势，公募基金的参与热情持续升温。 证券时报记者注意到，随着医药、科技、高端制造等高景气赛道的定增项目密集落地，头部公募与知名 基金经理频频出手，机构资金正加速流向优质成长型企业。 从下半年多起定增案例来看，多位知名基金经理参与的项目已实现浮盈。业内人士表示，随着市场情绪 修复、企业融资需求释放以及机构资金的再配置需求增强，定增正成为公募重点布局的重要方向之一。 头部公募押注科技龙头 10月以来，公募基金持续积极参与定增，寒武纪、胜宏科技等科技股获得青睐。 具体来看，10月21日，寒武纪发布定增公告，发行价为1195.02元/股，募集资金约39.85亿元，对应认购 总股份数量约333万股。 寒武纪此次定增共有13家机构参与，包括广发基金、汇添富基金、诺德基金、博时基金、国投瑞银基 金、嘉实基金等。其中，参与定增的知名基金经理和产品包括归凯管理的嘉实新兴产业，刘格菘管理的 广发创新升级、广发双擎升级、广发科技先锋，施成管理的国投瑞银先进制造、国投瑞银新能源等。 寒武纪主营应用于各类云服务器、边缘计算设备、终端设备中人工智能核心芯片的研发、设计和销售， 主要产品包括 ...

Core Viewpoint - Zhejiang Zhenyuan has decided to terminate its plan to issue shares to specific investors and has withdrawn its application due to considerations of the current capital market environment and the company's overall development strategy [1][2]. Group 1: Termination of Share Issuance - The company held a board meeting on October 21, 2025, where it approved the decision to terminate the share issuance and withdraw the application [1]. - The termination decision was made after thorough communication and analysis with relevant parties, considering the current capital market conditions [2]. Group 2: Financial Implications - The company stated that the termination of the share issuance will not adversely affect its normal production and operations, nor will it harm the interests of shareholders, especially minority shareholders [2]. - The planned fundraising amount was up to 49,500 million CNY, intended for specific projects including the construction of a production base for various biochemical products and an enhancement project for raw materials [2][3]. Group 3: Project Details - The projects intended for the raised funds included: 1. Construction of a production base for 2,400 tons of histidine, 1,000 tons of levodopa, and 1,000 tons of tyrosine, with a total investment of approximately 58.70 million CNY and planned fundraising of 30 million CNY [3]. 2. A project for enhancing raw material production with a total investment of about 48.12 million CNY and planned fundraising of 19.50 million CNY [3]. - The total investment for both projects was approximately 106.83 million CNY, with a total planned fundraising of 49.50 million CNY [3].

Core Viewpoint - The company Jin Xin Nuo (300252.SZ) has announced a plan to issue shares to specific investors through a simplified procedure, aiming to raise funds for expansion projects and working capital [1][2]. Group 1: Share Issuance Details - The share issuance will target no more than 35 specific investors, including various financial institutions and qualified investors, with all subscriptions to be made in cash [1]. - The pricing for the shares will be set at no less than 80% of the average trading price over the 20 trading days prior to the issuance date [1][2]. - The total amount to be raised is capped at 291.5 million yuan, with a maximum of 30% of the company's total shares being issued [2]. Group 2: Fund Utilization - The funds raised will be allocated to two main projects: 210 million yuan for the expansion of data center high-speed interconnection products and 81.5 million yuan for replenishing working capital [3]. - The total investment for the data center project is approximately 297.5 million yuan, indicating a significant commitment to enhancing operational capacity [3]. Group 3: Financial Performance - For the first half of 2025, the company reported a revenue of 1.223 billion yuan, reflecting a year-on-year increase of 17.89%, while net profit attributable to shareholders was 5.16 million yuan, up 60.54% [4][5]. - The company’s cash flow from operating activities showed a negative net amount of 208 million yuan, worsening from the previous year [4][5]. - In 2024, the company achieved a revenue of 2.137 billion yuan, a 6.94% increase, with a net profit of 12.51 million yuan, marking a significant turnaround from previous losses [6].

Summary of Key Points Core Viewpoint - In 2023, a total of 117 companies have implemented private placements, raising a cumulative amount of 793.21 billion yuan, indicating a significant trend in capital raising through equity financing in various sectors [1][2]. Group 1: Capital Raising Statistics - 117 companies have conducted private placements this year, with a total of 129 records and 100.43 billion shares issued, amounting to 793.21 billion yuan raised [1]. - The distribution of raised funds shows that 22 companies from the Shenzhen Main Board raised 39.19 billion yuan, 48 companies from the Shanghai Main Board raised 673.34 billion yuan, 24 companies from the ChiNext raised 36.08 billion yuan, and 23 companies from the Sci-Tech Innovation Board raised 44.61 billion yuan [1]. - The industries with the highest number of private placements include electronics (19 companies), power equipment (15 companies), and basic chemicals (12 companies) [1]. Group 2: Top Fundraising Companies - The company that raised the most funds is Bank of China, with 165 billion yuan, followed by Postal Savings Bank with 130 billion yuan and Bank of Communications with 120 billion yuan [2]. - Other notable companies include China Construction Bank (105 billion yuan), Guolian Minsheng (31.49 billion yuan), and China Nuclear Power (14 billion yuan) [2]. Group 3: Premium and Discount Analysis - Among the private placements, 119 records show a premium of the latest closing price over the placement price, with the highest premium recorded for AVIC Chengfei, at 957.01% [2][3]. - Conversely, 10 records indicate a discount, with the largest discount seen in Shen High-Speed at -21.21% [2][4]. - The analysis of premium and discount trends provides insights into market perceptions and investor confidence in the respective companies post-placement [2][4].