【超20家A股上市公司本周披露并购重组最新公告 湖南黄金拟购买黄金天岳、中南冶炼100%股权股票 明日复牌】智通财经1月25日电，据智通财经不完全统计，截至发稿，本周（1月19日-1月25日）包括湖 南黄金、永杰新材、新大正、胜宏科技、龙韵股份、晶升股份、伟星新材、明阳智能、韩建河山、爱博 医疗、奕帆传动、瑞达期货、康欣新材、铂科新材、凯龙高科、多瑞医药、中国中免、美芯晟、荣盛发 展、明德生物、新凤鸣、盈方微在内的22家A股上市公司披露并购重组进展最新公告。其中湖南黄金公 告，拟购买黄金天岳、中南冶炼100%股权，其主要从事部分金矿的采选及销售等，本次交易预计构成 重大资产重组，股票明日复牌。 转自：智通财经 ...

北交所策略专题报告 2026 年 01 月 25 日 铁拓机械借并购进军高端数控机床制造，北证已 49 家并购重组事件 ——北交所并购重组专题报告第十六期 北交所研究团队 诸海滨（分析师） zhuhaibin@kysec.cn 证书编号：S0790522080007 《高端仪器智能化、数字化取得进展， 2025 年 归 母 净 利 润 预 计 同 比 增 214~237% — 北交所信息更新》 -2026.1.23 《美德乐（920119.BJ）：高精度输送领 军企业，锂电回暖 2025H1 在手订单升 至 18 亿—北交所新股申购报告》 -2026.1.20 《ELSD 打开第二增长曲线，2025 年 预 计 归 母 净 利 润 同 比 +64.48% ～ 85.95%—北交所信息更新》-2026.1.20 北 交 所 研 究 北交所是中小企业并购重组首选地，已 49 家次公布重要并购重组事件 从新"国九条"到"并购六条"，2024 年起，并购重组市场迎来了诸多积极信号。 产业整合、跨界并购，为产业发展注入了新的动力。2025 年 10 月 29 日，中共 北京市委金融委员会办公室制定《北京市关于助力并购重 ...

Core Viewpoint - The company plans to acquire 100% equity of Jiangsu Clean Energy Co., Ltd. from China Technology Import and Export Group Co., Ltd. through a share issuance and will raise supporting funds by issuing shares to no more than 35 specific investors [1] Group 1 - The Shenzhen Stock Exchange's M&A Review Committee held a meeting on January 23, 2026, to review the application for this transaction [1] - The review committee announced that the transaction meets the restructuring conditions and information disclosure requirements [1] - The transaction still requires approval from the China Securities Regulatory Commission (CSRC) for registration, and there is uncertainty regarding whether and when this approval will be obtained [1]

A股市场并购重组持续活跃。截至周五收盘，拟收购德华芯片100%股权的明阳智能两连板、拟收购华峰普恩100%股权的华峰铝业、拟收购广西来宾金 石矿业55%股权的盛达资源、拟0元收购临港新材料40%股权的三峡新材以及拟收购宇邦半导体51%股权的康欣新材均实现涨停。 据智通财经不完全统计，截至发稿，本周披露并购重组进展的A股上市公司共有20家，包括新大正、胜宏科技、龙韵股份、晶升股份、伟星新材、明阳 智能、韩建河山、爱博医疗、奕帆传动、瑞达期货、康欣新材、铂科新材、凯龙高科、多瑞医药、中国中免、美芯晟、荣盛发展、明德生物、新凤鸣、 盈方微，具体情况如下图： | | | 本周披露并购重组公告的A股上市公司 | | --- | --- | --- | | 证券简称 | 公告日期 | 具体内容 | | 新大正 | 1月23日 | 拟购买嘉信立恒75.1521%股权 交易价格9.17亿元 | | 胜宏科技 | 1月23日 | 拟通过全资孙公司收购境外公司股权 | | 龙韵股份 | 1月23日 | 筹划购买愚恒影业58%股权 股票1月26日起停牌 | | 晶升股份 | 1月23日 | 拟购买为准智能100%股份 交易作价8. ...

Mergers and Acquisitions - Weixing New Materials plans to acquire 88.2557% equity of Beijing Songtiancheng Technology Co., Ltd. for 111 million yuan, focusing on the development, manufacturing, and sales of polyethylene valves for municipal pipeline networks [1] - Yunnan City Investment intends to publicly transfer 10.5% equity of Kunming Qicai Yunnan Urban Construction Investment Co., Ltd. with a base price of 293 million yuan [2] Shareholding Changes - Pengling Co., Ltd.'s actual controller Wang Zhifang plans to increase his shareholding by 20 million to 40 million yuan within six months, reflecting confidence in the company's business transformation and long-term investment value [3] - Anji Food's controlling shareholder Lin Xiaofang intends to reduce his stake by up to 3%, amounting to a maximum of 705,600 shares, due to personal funding needs [4] - Zhongqi New Materials' shareholder Zhou Jun and his concerted action party plan to reduce their holdings by up to 3% of the company's shares [5] Earnings Forecasts - Guocheng Mining forecasts a net profit attributable to shareholders of 1 billion to 1.12 billion yuan for 2025, compared to a profit of 453 million yuan in the same period last year [6] - Palm Shares anticipates a net loss of 1 billion to 1.2 billion yuan for 2025 [7] - Daoshi Technology expects a net profit attributable to shareholders of 480 million to 580 million yuan for 2025, representing a year-on-year growth of 206.01% to 269.76% [8] Risk Matters - Zhongbai Group received a warning letter from the Hubei Securities Regulatory Bureau due to untrue financial data disclosures and failure to timely disclose litigation and arbitration amounts exceeding 10% of the latest audited net assets [9] - Ruiang Gene's actual controllers Xiong Hui and Xiong Jun have been prosecuted for fraud, following their earlier arrest [10]

激发并购重组市场活力，完善分红回购、股权激励和员工持股等制度安排，加快推动出台上市公司监管 条例……证监会2026年系统工作会议明确多项"固本强基"改革任务，上市公司正步入价值成长与治理提 升新阶段。 ● 本报记者 昝秀丽 市场人士认为，系列改革将系统性重塑上市公司发展逻辑，推动资本市场从规模扩张向提高质量效益转 变，从融资导向向投资与融资功能并重转型。未来，一个价值创造能力更强、治理结构更优、投资者回 报更丰厚的上市公司群体，将为经济高质量发展贡献更多力量。 "并购重组正是破解这一困境的关键抓手，通过产业资源优化配置，可快速补短板、强弱项，实现价值 链条的闭环重构。"徐朝华说。 基于并购重组的价值，未来改革方向是明确的。相关改革有望聚焦支持上市公司转型升级、做优做强， 发展新质生产力，助力培育更多世界一流企业。开源证券副总经理、执行委员会委员孙金钜表示，并购 重组已成为连接资本市场与新质生产力的关键桥梁。2026年，围绕新质生产力的产业整合、蕴含新模式 的控股权变更，以及服务国家战略的央国企重组，将共同构筑起立体化的投资机遇图景，指引市场继续 向"新"而行。 "并购市场包容性持续提升。"孙金钜称，交易方案不 ...

Group 1 - The stock of Guosheng Technology (国晟科技) experienced significant volatility, with a peak price of ¥27.72 after resuming trading on January 12, 2023, following a suspension for regulatory review [1][24] - On January 14, the Shanghai Stock Exchange implemented self-regulatory measures against related investors, warning them to be cautious and comply with trading regulations [1][24] - Following the regulatory actions, Guosheng Technology's stock began a downward trend, experiencing multiple trading halts [1][24] Group 2 - Guosheng Technology's stock saw a strong rebound with a limit-up on January 22, 2023, indicating a potential recovery from previous declines [2][26] - The stock's trading data shows a recent price of ¥18.01, reflecting a 10.02% increase, with a trading volume indicating significant market activity [3][27] - The stock has experienced a dramatic rise of 492% since October 22, 2022, when a major investor, Xinduo (鑫多多), entered the market [5][29] Group 3 - Guosheng Technology operates in the photovoltaic sector, focusing on the research, production, and sales of high-efficiency heterojunction solar cells, and has been pursuing mergers and acquisitions [10][34] - The company has reported continuous losses for four years, with a projected loss of ¥3-6 billion for 2025, up from ¥1 billion in 2024 [10][34] - The company's price-to-book ratio is significantly higher than the industry average, indicating potential overvaluation [9][33] Group 4 - Investor sentiment has been mixed, with some expressing despair over losses due to trading halts, while others remain hopeful for recovery [8][31] - A notable incident involved a retail investor reportedly using pension funds to buy shares at a low point, highlighting the emotional and speculative nature of current trading behavior [12][36] - The company has faced criticism for its lack of solid fundamentals, prompting calls for investors to exercise caution [22][46]

Group 1 - The core focus of the China Securities Regulatory Commission (CSRC) for 2026 is to enhance the value growth and governance of listed companies, with a series of policy signals aimed at accelerating the introduction of regulatory guidelines and improving fundamental systems such as dividends, buybacks, and equity incentives [1] - The development logic of listed companies is shifting from "scale expansion" to "quality orientation," with significant growth in market capitalization observed in industries related to national strategies such as integrated circuits, artificial intelligence, and high-end manufacturing, indicating a structural optimization in the market [1][2] - The concentration of profits in new momentum fields like artificial intelligence and advanced manufacturing is increasing, while traditional industries are facing pressure, suggesting a more effective allocation of capital market resources towards future-oriented industries [1][2] Group 2 - The importance of corporate governance as a foundation for value growth is increasingly recognized, with over 98% of companies reported to have no non-operating fund occupation by controlling shareholders, indicating an improvement in governance standards [2] - Despite compliance improvements, there are still challenges in corporate governance, such as the need for independent directors to play a more active role in strategic participation and risk identification, rather than merely fulfilling procedural duties [2] - There is a need to shift from a focus on financing to a focus on returns, with suggestions for companies to establish a long-term value-centric strategic framework and enhance information disclosure from compliance to value disclosure [2] Group 3 - A scientific and standardized approach to market value management is emerging, distinguishing between "pseudo market value management" aimed at manipulating stock prices and genuine management that reflects intrinsic value [3] - The trend of increasing cash dividends and buybacks is evident, with A-share cash dividends reaching 2.4 trillion yuan in 2024, and over 2,400 companies having distributed dividends for three consecutive years, enhancing investor returns [3] - Communication mechanisms between companies and investors are evolving towards greater transparency, with over 5,000 companies holding annual performance briefings in 2025, primarily led by core management, serving as a vital channel for conveying value and building trust [3] Group 4 - Mergers and acquisitions (M&A) are becoming more focused on "filling gaps and strengthening capabilities," with an increase in the proportion of industry integration transactions and a regulatory emphasis on long-term integration effects [4] - The number of major asset restructurings in A-shares reached 133 in 2025, a year-on-year increase of 82%, driven by policies and reflecting inherent demands for industrial development [4] - The M&A market is expected to remain active, with deepening capital market reforms and the rapid development of emerging industries like renewable energy and biomanufacturing creating more opportunities for industry-upgrading M&A [4]

"证监会连续推出'科创十六条''科创板八条'等举措，设立科创板科创成长层，启用创业板第三套上市标准，为江苏省发展股权融资带来重大政策机 遇。"在1 月 21 日江苏省政府新闻办召开的"十四五"江苏金融发展成就新闻发布会上，江苏证监局副局长毕庆锋如是说。 图为发布会现场 毕庆锋表示，江苏证监局立足江苏产业实际，以"创新思维、专业指导、精准支持、更好服务"为导向，会同沪深北交易所强化政策宣导，加大科技创新企 业培育力度，支持优质企业高质量申报。 2025年，江苏新增境内首发上市公司29家，均为科技创新企业，其中28家为战略性新兴产业。目前江苏省科创板上市公司115家、北交所上市公司56家， 均约占全国1/5，位列全国第一；国家级专精特新"小巨人"，战略性新兴产业上市公司家数，均约占全国同类公司1/6。上市公司有力带动各地形成了特色 鲜明的先进制造和战略性新兴产业集群，构建了"龙头引领、集群支撑"的产业发展新格局。 该局持续推动上市公司向"智"发展，以科技创新引领产业创新。江苏省内上市公司在高端装备、生物医药等领域，不断取得创新突破，提升国际竞争力， 不少公司实现了从跟跑到领跑的跨越式发展。2025年上半年，江苏约 ...

Group 1 - The A-share merger and acquisition market is experiencing a surge, with companies focusing on sectors like semiconductors, new energy, and embodied intelligence, indicating a strong market trend [1] - Jingji Zhino (000048.SZ) has announced plans to acquire a controlling stake in Huibo Robotics, breaking traditional business boundaries and leading to a significant stock price increase, with a closing price of 18.50 yuan per share and a trading volume exceeding 800 million yuan over two days [1] Group 2 - The stock price surge is attributed to a combination of factors: the acquisition of an embodied intelligence target, favorable real estate policies, and the stability of the pig farming business [2] - The company is set to benefit from urban renewal projects in Shenzhen, with an estimated recovery of 6 billion yuan from residential compensation, significantly improving cash flow [2] - Asset disposals are accelerating, with plans to transfer hotel management company shares and dispose of properties valued at 1.6 billion yuan, potentially releasing nearly 8 billion yuan in funds to support the "agriculture + technology" dual strategy [2] Group 3 - The stable profitability and ample cash flow from the main business provide a financial cushion for the new robotics venture, supporting long-term R&D and reducing cross-industry risks [3] - The acquisition of Huibo Robotics allows the company to enter a high-valuation technology sector, transitioning from an agricultural leader to a technology enterprise [3] - The company is establishing a full industry chain in the Guangdong-Hong Kong-Macao Greater Bay Area, with an expected output of over 2.3 million pigs by 2025, ensuring stable supply and pricing [3] - The dual-driven strategy of "agriculture + technology" is expected to accelerate, with real estate policy benefits and asset value reassessment supporting the company's strategic transformation [3]