中经记者 顾梦轩 李正豪 广州 北京报道 半导体市场又迎来并购大事件。 近日，华虹半导体有限公司（以下简称"华虹半导体"，01347.HK，688347.SH）发布公告称，为解决 IPO承诺的同业竞争事项，华虹半导体正在筹划以发行股份及支付现金的方式购买上海华力微电子有限 公司（以下简称"华力微"）控股权，同时配套募集资金。 本次收购是对此前诺言的兑现。早在两年前在科创板上市之时，为解决同业竞争，华虹半导体曾许下承 诺：按照国家战略部署安排，在履行政府主管部门审批程序后，华虹集团将华力微注入发行人。 《中国经营报》记者注意到，本次华虹半导体仅仅收购华力微的华虹五厂，不含先进制程的华虹六厂， 因此有投资者质疑本次交易低于预期且有"违背上市承诺"之嫌。 值得注意的是，虽然公司A股停牌，但8月18日—21日，华虹半导体H股合计下跌7.37%。 对于华虹半导体H股的股价下跌，萨摩耶云科技集团首席经济学家郑磊在接受记者采访时表示，华虹半 导体H股下跌，主要因公司宣布以发行股份及支付现金方式收购华力微控股权，引发市场对股权稀释、 收购不确定性的担忧，叠加前期利好兑现后的获利了结，导致资金集中抛售。 郑磊表示，从事件上看， ...

登录新浪财经APP 搜索【信披】查看更多考评等级 公司代码：600161 公司简称：天坛生物 第一节 重要提示 1.1本半年度报告摘要来自半年度报告全文，为全面了解本公司的经营成果、财务状况及未来发展规 划，投资者应当到上海证券交易所网站www.sse.com.cn网站仔细阅读半年度报告全文。 1.2本公司董事会及董事、高级管理人员保证半年度报告内容的真实性、准确性、完整性，不存在虚假 记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 1.3公司全体董事出席董事会会议。 1.4本半年度报告未经审计。 1.5董事会决议通过的本报告期利润分配预案或公积金转增股本预案 考虑股东利益和公司发展需要，公司拟以2025年6月末总股本1,977,371,446股为基数，向全体股东每10 股派发现金股利1.5元（含税），分红总金额296,605,716.90元（含税）。 第二节 公司基本情况 2.1公司简介 ■ 单位: 股 ■ 2.4截至报告期末的优先股股东总数、前10名优先股股东情况表 □适用 √不适用 2.5控股股东或实际控制人变更情况 □适用 √不适用 2.2主要财务数据 单位：元 币种：人民币 ■ 2.3前1 ...

2025.08. 21 8月21日晚间，沪深两市多家上市公司发布公告，以下是第一财经对一些重要公告的汇总，供投资者 参考。 盛视科技公告，公司拟使用自有资金1000万元设立全资子公司深圳菲菲特文化创新有限公司，旨在 将AI、人形机器人技术与潮玩创新结合，打造智能陪护、情感交流体验的AI潮玩产品。公司已竞拍 获得Aldebaran公司机器人核心资产，包括教育和商用机器人。此举旨在促进公司业务多元化发展， 但可能面临市场需求变化和经营成果不及预期的风险。 【品大事】 天坛生物：国药集团及中国生物承诺解决与公司新增同业竞争问题 天坛生物公告，公司收到实际控制人国药集团及控股股东中国生物出具的承诺函，因中国生物收购派 林生物21.03%股份导致与公司新增同业竞争，承诺在五年内通过包括资产置换、资产出售、资产注 入、设立合资企业等方式解决同业竞争问题。同时承诺不新增与天坛生物主营业务构成竞争的业务， 并公平对待下属控股企业。该承诺函自中国生物取得派林生物控制权之日起生效。 帝欧家居：拟5亿元设立全资子公司拓展生成式人工智能领域 帝欧家居公告，公司拟使用自有及自筹资金5亿元设立全资子公司"水华未来"，分步实施，5年内完成 ...

Core Viewpoint - Huahong Semiconductor is planning to acquire a controlling stake in Shanghai Huahong Microelectronics to resolve competition issues related to its IPO commitments, with the transaction expected to enhance its market position and operational capabilities [2][4]. Group 1: Transaction Details - The acquisition involves purchasing the equity of assets related to the 65/55nm and 40nm processes, which are currently in the process of being separated [2][4]. - The transaction is expected to be completed through a combination of issuing shares and cash payments, with the stock of Huahong Semiconductor suspended from trading for up to 10 trading days starting August 18 [2][4]. - The preliminary transaction parties include Huahong Group, Shanghai Integrated Circuit Industry Investment Fund, and other investment entities [2][4]. Group 2: Business Strategy and Market Position - This transaction is a significant step for Huahong Semiconductor in addressing its competition issues, as it aligns with commitments made during its IPO [4][5]. - The company aims to enhance its production capacity and operational efficiency, particularly in specialty process wafer foundry services, reflecting confidence in future market growth [7][8]. Group 3: Financial Performance - In the second quarter, Huahong Semiconductor reported a revenue of $566.1 million, an 18.3% year-on-year increase, with a gross margin of 10.9% [8]. - The company's production capacity utilization reached 108.3%, indicating strong demand for its products, which include flash memory and power management solutions [8]. - The company expects third-quarter revenues to be between $620 million and $640 million, with a projected gross margin of 10% to 12% [9].

Core Viewpoint - The document presents a supplementary legal opinion regarding Nanjing Commercial Tourism Co., Ltd.'s issuance of shares and cash payment for asset acquisition, along with the associated fundraising and related transactions, emphasizing compliance with legal standards and the necessity of the transaction for the company's growth [1][2][3]. Group 1: Transaction Overview - Nanjing Commercial Tourism Co., Ltd. is engaging in a transaction involving the issuance of shares and cash to acquire assets and raise supporting funds [1][2]. - The transaction is subject to regulatory scrutiny, and the law firm has issued a supplementary legal opinion to address inquiries from the regulatory body [3][7]. Group 2: Legal Compliance and Responsibilities - The law firm asserts that it has fulfilled its legal responsibilities in accordance with relevant laws and regulations, ensuring the accuracy and completeness of the facts presented in the opinion [4][5][6]. - The supplementary legal opinion is intended solely for the purpose of this transaction and cannot be used for other purposes without the law firm's consent [6]. Group 3: Financial and Operational Implications - The transaction includes a price adjustment mechanism to respond to market fluctuations, which aims to protect the interests of the company and its minority shareholders [12][13]. - The law firm has conducted thorough checks on the financial health of the involved entities, ensuring that the assets to be injected into the company meet specific financial and compliance standards [22][23]. Group 4: Asset Evaluation and Strategic Considerations - The assets being considered for acquisition have been evaluated based on their financial performance, with specific criteria set to ensure they contribute positively to the company's operations [22][23]. - The document outlines the financial performance of the target assets, indicating that they meet the necessary profitability and return on investment criteria [23][27].

Group 1 - The core point of the report is that Hunan Sailoxian Management Consulting Partnership (Limited Partnership) has acquired 58,606,962 shares of Qidi Pharmaceutical Group Co., Ltd., representing 24.47% of the total shares, through judicial auction, making it the controlling shareholder of the company [1][18][24] - The acquisition was executed following a court ruling and was completed on August 5, 2025, with the total payment amounting to 1,007.39 million yuan [20][19] - The report confirms that the acquisition does not aim to terminate the listing status of Qidi Pharmaceutical and that the company will continue to operate independently [17][23] Group 2 - Hunan Sailoxian was established on June 19, 2025, primarily engaged in investment management, with a registered capital of 405.57 million yuan [4][6] - The actual controller of Hunan Sailoxian is Jiang Lin, who holds 66.86% of the shares in the executing partner, Shanghai Sailoxian [5][6] - Qidi Pharmaceutical operates in the pharmaceutical manufacturing industry, focusing on the research and development of traditional Chinese medicine and Western medicine formulations, with over 140 drug varieties and more than 30 patents [24][25] Group 3 - The financial data of Shanghai Sailoxian shows total assets of 1,650.71 million yuan and total equity of 1,322.98 million yuan as of December 31, 2024, with a net profit of 93.54 million yuan [6][13] - The report indicates that there are no significant legal violations or administrative penalties against Hunan Sailoxian in the past five years [14][16] - The report outlines that there is a potential for competition between Qidi Pharmaceutical and Hunan Sailoxian's core enterprise, Hengchang Pharmaceutical, due to overlapping product lines [24][26]

中金发布研报称，8月3日晚间，中国神华管理层开展电话会交流，坦诚深入交流投资者关心几大问题， 会议重点如下：公司说明此次交易是为了履行避免同业竞争承诺的协议，并减少关联交易；公司多次强 调此次交易将努力争取增厚EPS，而不是摊薄EPS；公司多次强调神华的高回报、可持续分红政策不 变，分红承诺会超额兑现(今年年初公司公告2025-27年将底线分红从60%提升至65%)。 智通财经APP获悉，中国神华(01088)再涨超4%，高见37.24港元创历史新高，截至发稿，涨3.78%，报 36.82港元，成交额3.74亿港元。 消息面上，8月1日，中国神华报公告，收到控股股东国家能源集团的《关于筹划重大事项的通知》，初 步考虑拟由公司发行股份及支付现金购买国家能源集团持有的煤炭、坑口煤电以及煤制油煤制气煤化工 等相关资产并募集配套资金。民生证券指出，本次交易涉及重组标的13家，包含避免同业竞争协议中承 诺收购的资产（除宁夏煤业）；上述资产全部注入后，上市公司煤炭在产产能增厚74.5%、在建产能增 厚1.25倍。 ...

Core Viewpoint - The acquisition of Plin Biological by Tiantan Biological has faced significant developments, with Tiantan opting to abandon the opportunity, allowing its controlling shareholder, China National Biological, to pursue the acquisition independently, raising questions about the potential formation of a "giant" in the blood products industry [1][2]. Group 1: Acquisition Details - Tiantan Biological's board approved the decision to forgo the acquisition of Plin Biological, which was previously announced as a major industry deal [2]. - China National Biological plans to acquire 21.03% of Plin Biological, with a transaction price based on 3.84 billion yuan plus annual simple interest [2]. - Tiantan Biological cited "high time constraints" as a reason for abandoning the acquisition, noting the scarcity and high demand for Plin Biological's assets [2][3]. Group 2: Challenges Faced - Tiantan Biological acknowledged facing "time window" and "funding pressure" challenges, as the acquisition process requires extensive regulatory approvals, which could delay the transaction [3]. - The potential acquisition price exceeding 3.84 billion yuan poses a significant financial burden on Tiantan Biological, which has a cash balance of 2.686 billion yuan as of the end of 2024 [3]. Group 3: Business Integration Risks - The complex historical background of Plin Biological, including multiple changes in control and organizational structure, presents integration risks that could affect minority shareholders [4]. - Tiantan Biological expressed concerns about the operational risks associated with directly acquiring Plin Biological, preferring that China National Biological handle the acquisition to facilitate better strategic alignment and resource integration [4]. Group 4: Industry Perspectives - Industry experts have mixed views on China National Biological's high-premium acquisition strategy, suggesting that it still resembles a "building block" approach rather than a cohesive industry leader [5]. - The increasing number of acquisitions raises integration challenges, including management unification, cultural differences, and balancing minority shareholder interests, which are critical for China National Biological's growth as a leading player in the industry [5].

Group 1 - The core viewpoint of the report is a recommendation for China Shenhua (601088.SH) with a latest price of 37.56 yuan [2] - The asset coverage includes "coal, electricity, chemical, transportation, and sales," which addresses industry competition issues and enhances integrated operational capabilities [2] - Post-restructuring, the coal resource volume and production capacity have significantly increased [2] - The company is expected to maintain a high dividend payout ratio [2] - The company has ample cash on hand, which is likely to improve its cash utilization and enhance overall ROE [2]

Core Viewpoint - The company clarified that it does not engage in issues related to intra-group competition and appreciates investor interest [1] Group 1 - An investor inquired about the company's stance on intra-group competition and whether it is a priority [1] - The company responded that it does not involve itself in intra-group competition matters [1] - The company expressed gratitude for the investor's attention [1]