报告期内，公司聚焦主营业务，深化全球产业链布局，重点拓展新材料、新产品在新兴领域的市场应 用，提升高附加值产品占比，盈利能力持续提升。 智通财经APP讯，立中集团(300428.SZ)披露2025年年度业绩预告，公司预计归属于上市公司股东的净利 润8.3亿元至8.7亿元，同比增长17.38%至23.04%;归属于上市公司股东的扣除非经常性损益的净利润7.5 亿元至7.9亿元，同比增长23.42%至30.00%。 ...

供需格局优化，农药价格企稳反弹。自2022 年开始，多数农药价格从高点持续回落，价格有较大幅度 的调整。伴随海外库存持续去化，国内低效产能的出清，农药市场供需格局持续优化。2024 年以来农 药产量增速开始回落，2025 年增速维持在10%以内。农药PPI也从2024 年开始从底部反弹。根据中农立 华数据，原药指数已有反弹趋势，除草剂等品类也有所改善。政策端持续收紧，一品一证政策落地，行 业规范进行中，登记证丰富的龙头企业有望受益。 产业链布局完善，优创项目巩固龙头地位。菊酯：菊酯关键中间体贲亭酸甲酯供给扰动，菊酯现货偏紧 价格反弹，公司农药中间体配套完善，叠加优创项目投产产能增加，有望充分受益菊酯价格修复。草甘 膦：2025 年行业供给相对平稳，下游需求回暖，草甘膦价格持续修复；麦草畏：美国复批麦草畏，需 求有望逐步打开。杀菌剂：3000 吨吡唑醚菌酯技改项目推进中，有望贡献增量。 ab推le荐_S逻u辑mm：a农ry药] 价格逐步复苏，公司优创项目开始放量，有望迎来量价齐升：1）公司 是国内农药龙头企业，产品布局完善，优创一期规划15650 吨农药原药产能，未来增量可期；2）2025 年以来农药价格逐步修 ...

公司的全资子公司海南南佰算拟以自有资金或自筹资金（含银行贷款等）人民币2,000万元自牛芯半导 体现有股东处受让38.0066万股股份，占牛芯半导体总股本的0.8446%。其中，以人民币1,000万元受让 超越摩尔持有的标的公司的19.0033万股股份，以人民币1,000万元受让苏州海松持有的标的公司的 19.0033万股股份。 标的公司的其他股东为公司持股5%以上的股东国家集成电路基金二期，同时，公司实际控制人、控股 股东孙成思的母亲徐林仙拟受让标的公司0.8446%股权，因此，本次购买股权暨与关联人共同投资事项 构成关联交易。本次交易不构成重大资产重组。 格隆汇12月30日丨佰维存储(688525.SH)公布，为进一步完善公司产业链布局，公司拟通过投资产业链 上下游优质企业，实现资源共享、技术互补与市场联动，提升整体业务运营效率与核心竞争力，同时与 标的公司形成战略合作伙伴关系，共同挖掘行业增长潜力，实现双方长期价值共赢，为公司及全体股东 创造持续、稳定的投资回报。 ...

标的公司的其他股东为公司持股5%以上的股东国家集成电路基金二期，同时，公司实际控制人、控股 股东孙成思的母亲徐林仙拟受让标的公司0.8446%股权，因此，本次购买股权暨与关联人共同投资事项 构成关联交易。本次交易不构成重大资产重组。 公司的全资子公司海南南佰算拟以自有资金或自筹资金（含银行贷款等）人民币2,000万元自牛芯半导 体现有股东处受让38.0066万股股份，占牛芯半导体总股本的0.8446%。其中，以人民币1,000万元受让 超越摩尔持有的标的公司的19.0033万股股份，以人民币1,000万元受让苏州海松持有的标的公司的 19.0033万股股份。 格隆汇12月30日丨佰维存储(688525.SH)公布，为进一步完善公司产业链布局，公司拟通过投资产业链 上下游优质企业，实现资源共享、技术互补与市场联动，提升整体业务运营效率与核心竞争力，同时与 标的公司形成战略合作伙伴关系，共同挖掘行业增长潜力，实现双方长期价值共赢，为公司及全体股东 创造持续、稳定的投资回报。 ...

Group 1 - The core viewpoint of the article is the strategic partnership between Shunxin Holdings Group and Shunyi Commercial Group, which aims to enhance the supply of high-quality pork products to local consumers in Beijing [1] Group 2 - Shunyi Commercial Group will exclusively source pork products from Pengcheng Food, a subsidiary of Shunxin Agriculture, through a direct supply model [1] - On the first day of operation, seven direct-sale counters sold 40 whole pigs and 3.5 tons of pork cuts, with sales increasing to 60 whole pigs and 4 tons of cuts on the signing day, which coincided with a weekend [6] - The collaboration aims to connect local agricultural products with consumer channels, providing residents with convenient access to safe and high-quality pork products [6] Group 3 - Pengcheng Food plans to expand its direct-sale stores and terminal sales network across Beijing, targeting a grid coverage of 1.5 kilometers from the consumer end [6] - The company has a 60-year history in the pork industry, establishing a closed-loop management system for the entire supply chain, ensuring stable supply and quality traceability [6] - By reducing intermediary distribution through a direct supply model, consumers can enjoy high-quality pork products at a better price-performance ratio [6]

Group 1 - The core point of the news is that UBTECH Robotics plans to acquire approximately 43% of the shares of Fenglong Co., becoming its controlling shareholder through a combination of agreement transfer and tender offer, with a total consideration of about 1.665 billion yuan [1][2] - The acquisition price is set at 17.72 yuan per share, which represents a discount of about 10% compared to Fenglong's stock price before suspension [1] - Following the completion of the transaction, the actual controller of Fenglong will change to UBTECH's founder, Zhou Jian [1] Group 2 - The acquisition will occur in two steps: the first step involves an agreement transfer of 65,529,900 shares (29.99% of total shares) for 1.161 billion yuan, and the second step is a tender offer for 28,450,000 shares (13.02% of total shares) for approximately 504 million yuan [2] - After the completion of both steps, UBTECH's shareholding will increase to 43%, with a total cost of about 1.665 billion yuan, funded by internal resources [2] - An earnings guarantee mechanism is established, where Fenglong's original shareholders commit to a cumulative net profit of no less than 45 million yuan from 2026 to 2028, with cash compensation if the target is not met [2] Group 3 - There is speculation in the market regarding UBTECH's intention to "backdoor list" through Fenglong, but the company has clarified that there are no plans for asset restructuring or backdoor listing in the near term [3] - UBTECH has faced continuous losses, including a projected loss of 1.124 billion yuan in 2024, which poses a barrier to traditional backdoor listing [3] Group 4 - The acquisition is part of UBTECH's strategy to strengthen its industrial chain and respond to market competition, aiming to enhance its core competitiveness [4] - UBTECH has received nearly 1.4 billion yuan in orders this year, with a monthly production capacity of over 300 units for the Walker S2 robot, but faces challenges in supply chain stability [4] - Fenglong's experience in precision manufacturing and existing production capacity can complement UBTECH's capabilities, helping to reduce production costs and accelerate delivery [4] Group 5 - Industry insiders note that Fenglong currently has a high price-to-earnings ratio, but its profitability is expected to be stronger than UBTECH's in the short term [5] - UBTECH is facing intense competition from emerging companies like Zhiyuan and Yuzhu, which are rapidly advancing in the market [5] - UBTECH recently completed its sixth placement after going public, raising a net amount of 3.056 billion Hong Kong dollars, with 75% of the funds earmarked for investments or acquisitions in the industrial chain [5]

12月24日晚间，港股上市的人形机器人龙头优必选与A股上市公司锋龙股份联合发布公告，优必选拟通 过"协议转让+要约收购"组合方式，合计斥资约16.65亿元收购锋龙股份约43%股份，交易完成后将取得 锋龙股份控制权。 公开资料显示，锋龙股份主营园林机械零部件、液压控制系统及汽车零部件研发生产。2025年三季报显 示，公司业绩表现向好，营收3.73亿元，同比增长9.47%；净利润2151.85万元，同比大涨1714.99%。 对于此次收购的目的，优必选在公告中表示，这是公司完善产业链布局、强化核心竞争力的重要举措。 本次收购旨在结合自身技术优势与锋龙股份的制造、供应链能力深化协同，交易完成后锋龙股份仍以原 有业务为主，暂无改变主营业务的计划。 需要注意的是，优必选成立于2012年3月，专注于人形机器人全栈式技术研发，2023年在港交所上市， 是全球极少数具备人形机器人全栈式技术能力的企业。 不过，优必选尚未摆脱亏损泥潭。2022年-2024年，公司营业收入10.08亿元、10.65亿元、13.05亿元， 但净利润却为-9.87亿元、-12.65亿元、-11.6亿元。2025年前三季度，公司营收6.18亿元，净利润 ...

Group 1 - The core point of the news is that Fenglong Co., Ltd. will change its controlling shareholder to UBTECH Robotics Corp., with Zhou Jian becoming the actual controller [1][2][3] - The share transfer agreement stipulates that Chengfeng Investment will transfer 29.99% of its shares in Fenglong at a price of 17.72 yuan per share, totaling 1.161 billion yuan [2][3] - After the share transfer, UBTECH will hold 29.99% of Fenglong's shares and corresponding voting rights, while the previous controlling shareholder will lose its voting rights [3][4] Group 2 - UBTECH aims to enhance its industrial chain layout and strengthen its core competitiveness through this strategic acquisition [4][5] - The collaboration will leverage UBTECH's technology in humanoid robots and Fenglong's manufacturing capabilities to promote the commercialization of humanoid robot technology [5] - Fenglong's projected net profits for 2024 and the first three quarters of 2025 are expected to be 4.59 million yuan and 21.52 million yuan, respectively [5][8] Group 3 - The shareholding structure will change significantly, with Chengfeng Investment's stake dropping from 39.49% to 9.50% after the transfer, and UBTECH's stake increasing to 29.99% [4] - The agreement includes a commitment from the transferors to ensure Fenglong achieves net profits of no less than 10 million yuan, 15 million yuan, and 20 million yuan for the years 2026, 2027, and 2028, respectively [9] - The recent surge in capital operations within the robotics industry indicates a growing interest and investment in this sector [10]

12月24日晚间，A股上市公司锋龙股份（002931.SZ）与港股"人形机器人第一股"优必选（09880.HK） 同步抛出重磅公告，优必选拟入主锋龙股份，后者实控人将变更为周剑。锋龙股份股票自2025年12月25 日开市起复牌。 本次股份转让过户登记完成后， 本次股份转让过户登记及表决权放弃后，优必选将拥有锋龙股份29.99%的股份及该等股份对应的表决 权，锋龙股份控股股东将由诚锋投资变更为优必选，实际控制人由董剑刚变更为周剑。 公告显示， 截至公告披露日，优必选暂无在未来12 个月内改变上市公司主营业务或者对上市公司主营 业务做出重大调整的明确计划，以及在未来12个月内对上市公司及其子公司的重大资产和业务进行出 售、合并、与他人合资或合作的明确计划，或上市公司拟购买或置换重大资产的明确重组计划。未来36 个月内，优必选不存在通过上市公司重组上市的计划或安排；未来12个月内，优必选不存在资产重组计 划。 锋龙股份提示，本次交易尚需履行优必选股东会审批和香港联合交易所对优必选本次交易事项的审阅程 序、深圳证券交易所就本次股份转让的合规性审核、中国证券登记结算有限责任公司办理股份过户登记 手续及其他必要的程序等， ...

锋龙股份自12月18日开市起停牌，计划自12月25日开市起复牌。截至12月17日收盘，锋龙股份股价报19.68元/股，总市值达43亿元。 "协议转让+要约收购" 优必选入主计划两步走 12月24日，锋龙股份控股股东浙江诚锋投资有限公司（以下简称诚锋投资）及其一致行动人董剑刚、宁波锋驰投资有限公司（以下简称锋驰投 资）、厉彩霞与优必选签署《关于浙江锋龙电气股份有限公司之股份转让协议》。 【导读】锋龙股份拟易主优必选，自12月25日开市起复牌 12月24日晚间，锋龙股份（002931）发布公告称，公司控股股东将变更为深圳市优必选科技股份有限公司（以下简称优必选），实控人变更为周 剑。 协议约定，诚锋投资将以17.72元/股的价格，向优必选转让所持锋龙股份29.99%的股份，以及前述股份对应的所有股东权利和权益，转让总价款 为11.61亿元。 上述股份转让过户登记完成后，优必选及/或其指定主体将向锋龙股份除受让方以外的全体股东，发出部分要约收购（本次要约收购），要约收购 股份比例不低于13.02%，要约收购价格为17.72元/股。 诚锋投资、董剑刚、锋驰投资、厉彩霞不可撤销地承诺，以其合计所持锋龙股份13.01%的 ...