证券日报网12月25日讯 ，雅博股份在接受投资者提问时表示，公司控股股东为山东泉兴科技有限公 司，实际控制人枣庄市国资委。国资入股后保留了部分原管理团队，并派驻总经理、财务总监等关键职 务。 （编辑 袁冠琳） ...

联创电子实际控制人拟变更为江西省国资委，12月25日开市起复牌 中国基金报记者 牛思若 停牌五个交易日的联创电子将于2025年12月25日（星期四）开市起复牌。 12月24日，联创电子公告称，公司控股股东江西鑫盛与北源智能签订了《股份转让协议》，约定北源智能分批支付9亿元，收购江西鑫盛持有的联创电子 无限售流通股7086.61万股，占上市公司股份总数的6.71%。 上述协议转让完成后，公司控股股东变更为北源智能，江西国资创投为公司的间接控股股东，公司实际控制人将变更为江西省国资委。 同日，联创电子披露，公司与江西国资创投签订了《附条件生效的股份认购协议》，江西国资创投拟通过现金方式认购上市公司向特定对象发行的不超过 1.89亿股股票。 本次发行完成后，在不考虑其他因素可能导致股本数量变动的情况下，按照拟发行股数上限计算，江西国资创投将直接持有公司股份1.89亿股，占发行后 上市公司股份总数的15.19%。上述协议转让和股票发行完成后，江西国资创投直接和间接持有公司股份占发行后上市公司股份总数的20.89%，公司控股 股东将变更为江西国资创投，公司实际控制人仍为江西省国资委。 联创电子表示，本次募集资金扣除发行 ...

Core Insights - Sichuan Jian Nan Chun Group has been listed as the 23rd in the "2025 Sichuan Top 100 Private Enterprises" with a revenue of 16.361 billion yuan, showing an improvement from the previous year's 25th position with a revenue of 16.941 billion yuan [1][3] Group 1 - Jian Nan Chun Group was established in September 1996, originally as a state-owned enterprise, and underwent privatization in 2003, with a registered capital of 94.55 million yuan [1][3] - The company recently welcomed a state-owned shareholder, Mianzhu State-owned Assets Management Center, which acquired 14.51% of the shares through a debt contribution of 137 million yuan, increasing the registered capital from 80.8 million yuan to 94.6 million yuan [3] - The major shareholder, Sichuan Tongsheng Investment Co., holds 74.14% of the shares, with Qiao Tianming being the actual controller [3] Group 2 - Qiao Tianming, the chairman of Jian Nan Chun Group, was sentenced to five years in prison and fined 400 million yuan for bribery and misappropriation of state assets, with the misappropriated assets to be returned to the Mianzhu municipal government [3] - As of the latest updates, there have been no personnel changes reported within Jian Nan Chun Group, and Qiao Tianming remains in his position as chairman [4]

Core Viewpoint - The article discusses the upcoming change in control of Cangzhou Mingzhu, driven by a share transfer agreement with Guangzhou Light Industry Group, which is expected to enhance the company's market competitiveness and optimize its capital structure [3][4][5][6][7]. Group 1: Share Transfer and Control Change - Cangzhou Mingzhu's stock price surged by 10.08% to 4.26 CNY per share following the announcement of a share transfer agreement on October 16 [2][3]. - The agreement involves Guangzhou Light Industry acquiring 10% of shares and obtaining voting rights for an additional 9.58% of shares, totaling 19.58% voting rights post-transaction [6][7]. - The share transfer price is set at 4.263 CNY per share, leading to an estimated cash-out of approximately 710 million CNY for the current controlling shareholder [6][7]. Group 2: Company Performance and Market Position - Cangzhou Mingzhu, established in 1995 and listed in 2007, specializes in PE pipes, BOPA films, and lithium-ion battery separators, ranking among the top ten in lithium battery separator shipments in China [10][11]. - The company reported a revenue of 1.319 billion CNY in the first half of the year, a 6.88% increase year-on-year, but faced a decline in net profit by 6.15% [11][12]. - The competitive landscape in the lithium battery industry has intensified, prompting Cangzhou Mingzhu to seek state-owned capital to optimize its operations and enhance its market position [12]. Group 3: Industry Demand and Future Prospects - The demand for lithium battery separators is expected to grow, with major battery manufacturers like CATL and BYD expanding their production capacity [14][16]. - The entry of state-owned capital is anticipated to strengthen Cangzhou Mingzhu's strategic positioning in the new energy sector, coinciding with a rising trend in separator prices due to supply-demand imbalances [16][17]. - The company is well-positioned to benefit from the ongoing expansion in the lithium battery market, with its production capacity set to increase in the coming years [14][17].

Core Viewpoint - Sichuan Jian Nan Chun (Group) Co., Ltd. plans to reduce its stake in Huaxi Securities (002926.SZ) by up to 26.25 million shares, representing no more than 1% of the total share capital, citing "liquidity needs" as the reason for the reduction [1][8]. Group 1: Shareholding and Reduction Details - Jian Nan Chun holds 178 million shares of Huaxi Securities, accounting for 6.79% of the total share capital, with the shares primarily acquired before the company's IPO [4][8]. - The planned reduction, if executed at the closing price of 9.51 yuan per share on September 27, would correspond to a market value of up to 250 million yuan [1][8]. Group 2: Recent Changes in Jian Nan Chun - On September 12, Jian Nan Chun underwent significant changes, with the addition of Mianzhu City State-owned Assets Administration Center as a shareholder, increasing the registered capital from 808 million yuan to approximately 946 million yuan, a growth of about 17% [9][10]. - The new shareholder, Mianzhu City State-owned Assets Administration Center, acquired 14.51% of Jian Nan Chun through a debt contribution of approximately 137 million yuan, marking the return of state capital to the company after many years [10]. Group 3: Background and Implications - Jian Nan Chun was established in 1996, evolving from a state-owned liquor factory, and underwent privatization in 2003. In 2024, the company reported revenue of 16.361 billion yuan [10]. - The recent state capital entry may indicate a resolution to issues related to the company's privatization and shareholding structure, potentially leading Jian Nan Chun into a new development phase [11].

Core Viewpoint - Sichuan Jian Nan Chun Group has undergone a significant change in its shareholding structure, with the Mianzhu State-owned Assets Administration Center acquiring approximately 14.51% of the shares, becoming the second-largest shareholder, marking the return of state capital after over 20 years [1][2][4] Shareholding Structure Changes - The registered capital of Jian Nan Chun Group increased from approximately 808 million to about 946 million, reflecting a growth of around 17% [2] - The largest shareholder, Sichuan Tongsheng Investment Co., Ltd., saw its shareholding drop from 74.1439% to 63.0619% [2][3] - Other shareholders also experienced changes in their holdings, with Sichuan Blue Sword Investment Management Co., Ltd. decreasing from 9.948% to 8.4611%, and Sichuan Fusi Information Consulting Co., Ltd. from 6.2175% to 5.2882% [2][3] Historical Context - Jian Nan Chun was originally a state-owned enterprise before its privatization in 2003, when it transitioned to a private company under the leadership of Qiao Tianming and other executives [4] - The company once thrived during the early 2000s but has since lost its competitive edge in the high-end liquor market, failing to capitalize on the premiumization trend [7][10] Financial Performance - Jian Nan Chun's revenue surpassed 10 billion in 2018 and reached 12 billion in 2019, with 2020 revenues reported at 10.226 billion and 11.180 billion in 2021 [7] - Despite entering the 10 billion revenue club, the company has struggled to maintain its market position against competitors like Moutai and Wuliangye [10] Future Outlook - The introduction of state capital is expected to enhance liquidity and provide backing for the company's development [11] - The company aims to achieve a sales target of 30 billion by the end of 2025, but this goal appears challenging given the current competitive landscape and internal management uncertainties following the shareholding changes [10][11]

Core Insights - Recently, Jian Nan Chun Group experienced a change in its shareholding structure, with Mianzhu State-owned Assets Administration Center acquiring a 14.51% stake through a capital contribution of 137 million RMB, making it the second-largest shareholder [2]. Group 1: Shareholding Information - Sichuan Tongsheng Investment Co., Ltd. holds a controlling stake of 63.06% in Jian Nan Chun Group, with a subscribed capital contribution of 596.25 million RMB made on March 30, 2012 [1]. - Mianzhu State-owned Assets Administration Center, as the second-largest shareholder, has a subscribed capital contribution of 137.16 million RMB, effective from September 8, 2025 [1][2]. Group 2: Company Background - Sichuan Jian Nan Chun (Group) Co., Ltd. was established in 1996, with a registered capital of 94.55 million RMB and a paid-in capital of 80.83 million RMB, having completed its A-round financing in 2007 [2].

Core Viewpoint - The significant equity change in Sichuan Jian'nanchun Group indicates a renewed relationship with state-owned assets, as the Mianzhu State-owned Assets Administration Center acquired approximately 14.51% of the shares, making it the second-largest shareholder [1][4]. Group 1: Shareholding Changes - Mianzhu State-owned Assets Administration Center invested 137.16 million RMB to acquire 14.51% of Jian'nanchun Group, increasing the registered capital from 808 million RMB to 946 million RMB [1]. - Following this investment, the largest shareholder, Sichuan Tongsheng Investment Co., Ltd., saw its stake decrease to around 63%, losing its absolute control over the company [2][3]. Group 2: Historical Context - Jian'nanchun Group, originally a state-owned enterprise, underwent privatization in the early 2000s, with Sichuan Tongsheng becoming the largest shareholder post-reform [3]. - The company has faced controversies, including legal issues involving its chairman, Qiao Tianming, who was sentenced to five years in prison in 2023 for misappropriating state assets [3][4]. Group 3: Business Performance and Strategy - Jian'nanchun Group has been a leading player in the liquor industry, achieving over 10 billion RMB in revenue as early as 2018, and aims to reach 30 billion RMB by the end of the 14th Five-Year Plan [6]. - The company has partnered with e-commerce platforms and launched high-end products, enhancing its brand presence, although it has not disclosed recent annual revenue figures [6]. - In 2024, Jian'nanchun's revenue was reported at 16.94 billion RMB, with a 15% year-on-year growth for its subsidiary [6].

Core Viewpoint - The recent changes in Tangshan Guoxuan Battery Co., Ltd. indicate a strategic move to enhance its financial strength and market competitiveness through the introduction of a new shareholder and an increase in registered capital [1][3]. Group 1: Company Changes - Tangshan Guoxuan has undergone a business change, adding Chongqing International Trust Co., Ltd. as a new shareholder [1]. - The registered capital of Tangshan Guoxuan has increased from 1 billion RMB to approximately 1.21 billion RMB, representing a growth of about 21% [1]. Group 2: Shareholder Structure - The current shareholders of Tangshan Guoxuan include Hefei Guoxuan High-Tech Power Energy Co., Ltd. and Chongqing International Trust, holding 82.5084% and 17.4916% of shares, respectively [3]. Group 3: Market Implications - The addition of a new shareholder is expected to enhance Tangshan Guoxuan's financial capabilities, aiding in the expansion of production scale and improving market competitiveness [3]. - The capital increase is also anticipated to optimize the company's financial structure and reduce its debt ratio [3].

Core Viewpoint - MicroPort Medical (00853) has seen a significant stock price increase of over 70% in the past seven trading days, with a current price of 14.52 HKD and a trading volume of 266 million HKD [1] Group 1: Shareholder Activity - The largest shareholder, Otsuka Medical Devices, sold 15.71% of its 20.70% stake to several buyers, including Shanghai Maitake (7.31%), We'Tron Capital Limited (7.31%), and an investment platform affiliated with MicroPort's management (1.08%) [1] - Otsuka retains approximately 5% of its shareholding in MicroPort [1] Group 2: Market Implications - CICC noted that Shanghai Maitake, as a platform under the Shanghai State-owned Assets Supervision and Administration Commission, reflects state capital's recognition of MicroPort's assets, which may support the company's core business expansion and potential strategic acquisitions [1] - The increase in shareholding by existing significant shareholders, We'Tron Capital Limited and the management team, indicates a deeper alignment of interests between core shareholders, management, and the company [1]