长江商报消息 历时大半年，浙江龙盛（600352.SH）借助收购终于化解一场海外纠纷。 2026年1月4日晚，浙江龙盛公告，公司的一桩海外收购计划顺利完成，相关股权已经完成交割，耗资约 7.02亿美元（折合人民币超过49亿元）。 此前，浙江龙盛公告，因法院判决德司达全球控股（新加坡）有限公司（简称"德司达"）股份整体出 售，作为控股股东，浙江龙盛决定通过收购德司达剩余的37.57%股权化解海外纠纷。 作为全球染料巨头，德司达处于持续盈利状态。2024年及2025年前三季度，其分别盈利约1.16亿美元、 6296.13万美元。 浙江龙盛称，本次收购将增厚公司归母净利润。 此次收购不会对浙江龙盛的现金流产生重大不利影响。截至2025年9月末，公司货币资金达207.21亿 元，对应的有息负债180亿元左右。前三季度，公司财务费用为负数。 浙江龙盛的经营业绩虽然波动明显，但整体盈利能力仍然较强。2013年以来，公司年度归母净利润最低 也超过10亿元。2025年前三季度，公司归母净利润约为14亿元。 2026年1月4日晚，浙江龙盛公告，2025年12月30日，德司达向指定账户支付20%股份回购款约4.27亿美 元；公司 ...

聚和材料回复称，目前韩国收购事宜一切按计划进行，国内相关产能的建设规划正在逐步开展中，待收 购完成后公司会及时履行信息披露义务，敬请您关注公司后续披露的公告。 格隆汇12月17日｜有投资者在互动平台向聚和材料提问：请问公司在韩国的收购项目，12月3日工商登 记成功了吗，后续还有哪些关键审批环节方能落地，项目后续规划如何？ ...

Core Viewpoint - Dongshan Precision (002384.SZ) is planning to issue H-shares and list on the Hong Kong Stock Exchange to enhance its international strategy, brand recognition, and overall competitiveness. The details of the H-share issuance are still under discussion and require approval from various regulatory bodies, indicating significant uncertainty regarding the implementation of this plan [1]. Group 1: H-Share Issuance - Dongshan Precision is in the process of planning the issuance of H-shares to further its international development and overseas business layout [1]. - The company is currently discussing the details of the H-share issuance with relevant intermediaries, with no specific plan finalized yet [1]. - The issuance and listing will require approval from the board, shareholders, and regulatory authorities, which introduces a high level of uncertainty regarding the execution of this plan [1]. Group 2: Recent Fundraising Activities - As of June 11, 2025, Dongshan Precision raised approximately 1.39 billion RMB through a private placement of A-shares, with a total of 125,693,822 shares issued at a price of 11.17 RMB per share [2]. - The recent fundraising was conducted at a price significantly lower than the market price, raising concerns about the valuation and timing of the issuance [2]. - Since its listing in 2010, the actual controllers of Dongshan Precision have cumulatively cashed out 3.38 billion RMB through share reductions, highlighting a trend of significant insider selling [2]. Group 3: Asset Impairment - Over the past three years, Dongshan Precision has reported asset impairment losses totaling nearly 2 billion RMB, primarily from inventory write-downs, fixed asset impairments, and goodwill impairments [2]. - As of June 30, 2025, the company had a goodwill book value of 2.12 billion RMB, with a provision for goodwill impairment of 170 million RMB [3]. Group 4: Recent Investments - On June 13, 2025, Dongshan Precision's board approved the acquisition of 100% of Source Photonics Holdings (Cayman) Limited for a maximum consideration of 629 million USD, along with a subscription for convertible bonds worth up to 1 billion RMB [4]. - The total investment for this acquisition and related activities is capped at approximately 5.935 billion RMB [4]. Group 5: Shareholding Structure - As of October 16, 2025, the controlling shareholders of Dongshan Precision hold a total of 609.10 million shares, representing 33.26% of the total share capital [6]. - Following recent pledges, the number of pledged shares has increased to 175.71 million, accounting for 28.85% of their holdings and 9.59% of the company's total shares [6][7].

Core Viewpoint - Zijin Gold International (02259.HK), spun off from Zijin Mining (601899) and listed in Hong Kong, reported strong financial performance for the first three quarters of 2025, with gold production of 32 tons and a net profit of approximately $905 million [1] Financial Performance - For the first three quarters of 2025, the company achieved total revenue of $3.415 billion, with a pre-tax profit of $1.515 billion and a net profit of $1.095 billion [1] - In Q3 2025, the company generated revenue of $1.418 billion and a net profit attributable to shareholders of $385 million [2] - The net cash flow from operating activities for the first three quarters was $1.081 billion, indicating strong cash flow generation capabilities [1] Asset and Equity Growth - As of September 30, 2025, the company's total assets reached $10.855 billion, a significant increase from $5.403 billion at the end of 2024 [3] - Shareholders' equity amounted to $7.083 billion, with net current assets of $3.838 billion, and the debt-to-asset ratio improved from 46.28% at the end of 2024 to 28.52% [3] Cost Management - The all-in sustaining cost (AISC) for the first nine months of 2025 was $1,574 per ounce, up from $1,458 per ounce for the entire year of 2024, primarily due to rising gold prices [3] Mining Operations - The Bogala Gold Mine's production was gradually incorporated into the company's reports, with gold production rights amounting to 1,357 kg in the first half of 2025 and 767 kg in Q3 2025 [3] - The company completed two major overseas acquisitions: the Akim Gold Mine in Ghana and the Raygorodok Gold Mine in Kazakhstan, which have started contributing to production and profits [3] Market Outlook - The company plans to capitalize on the favorable market environment of rising gold prices in Q4 2025, focusing on increasing production efficiency and optimizing cost control [4] - The performance of Zijin Gold International is positively influenced by rising gold prices, with other gold companies also reporting significant profit increases [4]

Core Viewpoint - Shunlong Holdings (00361) announced the acquisition of Hio Pro (Vietnam) Sporting Goods Company Limited for $2.5 million, which will enhance its competitive edge in the golf equipment market by leveraging lower export tariffs from Vietnam to the U.S. [1] Group 1: Acquisition Details - The buyer, Shunlong Golf Products Limited, a wholly-owned subsidiary of the company, intends to acquire the entire paid-up capital of 615.20 billion Vietnamese Dong from the seller, Hiaow Sports Goods Limited [1] - The target company is a foreign direct investment single-member limited liability company registered in Vietnam, primarily engaged in manufacturing golf equipment and related components [1] Group 2: Strategic Implications - The acquisition allows the group to export golf products manufactured in Vietnam to the U.S., where the export tariffs are lower than those from China, thereby alleviating tariff burdens faced by the group [1] - This strategic move is expected to enhance the overall operational efficiency of the group and maintain competitiveness in the golf business [1]

Core Viewpoint - Shunlong Holdings (00361.HK) announced the acquisition of Hio Pro (Vietnam) Sporting Goods Company Limited for $2.5 million, equivalent to approximately HKD 19.44 million, to enhance its golf equipment manufacturing capabilities and reduce tariff burdens when exporting to the U.S. [1] Group 1: Acquisition Details - The acquisition involves the purchase of the entire registered capital of 61.52 billion Vietnamese Dong from a wholly-owned subsidiary of the seller [1] - The target company is a foreign direct investment single-member limited company registered in Vietnam, primarily engaged in manufacturing golf equipment and related components [1] Group 2: Strategic Rationale - The acquisition allows the company to manufacture golf products in Vietnam, where export tariffs are lower than those from China, thereby alleviating tariff burdens faced by the group [1] - This strategic move aims to maintain the competitiveness of the group's golf business and improve overall operational efficiency [1]

Group 1 - Investment opportunities in the US may arise from technology integration in non-sensitive sectors, while Europe presents opportunities in the carbon neutrality industry chain, and emerging markets are driven by resource endowments and policy directions [2] - Acquiring local brands when companies expand overseas can help quickly establish a presence, but retaining strong domestic brands is also viable if the brand has substantial strength [2] - Overseas acquisitions are a fast way to obtain key resources such as brands, technology, and channels, especially in consumer-facing sectors where there is still a bias against "Made in China" products [2] Group 2 - Retaining Chinese brands can be significant in industries or regional markets where Chinese companies have established technological advantages, as product performance may overshadow brand nationality [2] - Companies like DJI dominate the global drone market with over 80% market share, while Transsion has developed technologies tailored for the African smartphone market [2]

Group 1 - The core point of the news is that Sanan Optoelectronics plans to acquire 100% equity of Lumileds Holding B.V. for $239 million in cash, in partnership with foreign investor Inari [1] - Sanan Optoelectronics and Inari will establish a joint venture in Hong Kong with a total investment of $280 million, where Sanan will contribute 74.5% and Inari 25.5% [1] - Lumileds Holding B.V. specializes in mid-to-high-end LED products for automotive lighting, camera flash, and specialty lighting, and has a comprehensive production process and diverse product range [1] Group 2 - The target company has reported losses in recent years due to macroeconomic factors and high operational costs [2] - The enterprise value of the transaction is $239 million, while the net asset value of the target company is projected to be $210 million by the end of 2024 [2] - Sanan Optoelectronics anticipates that the acquisition may result in some goodwill, although the amount is expected to be small and will be determined based on the final transaction price and audit [2]

Core Viewpoint - Sanan Optoelectronics (600703.SH) plans to acquire 100% equity of Lumileds Holding B.V. for a cash consideration of $239 million, in partnership with foreign investor Inari Amertron Berhad [1] Group 1: Acquisition Details - The acquisition will be financed through a joint investment of $280 million in a Hong Kong joint venture (referred to as "Hong Kong SPV") with Inari, where Sanan will contribute 74.5% and Inari 25.5% [1] - Upon completion of the transaction, Sanan will indirectly hold 74.5% equity in Lumileds and consolidate it into its financial statements [1] Group 2: Strategic Implications - Lumileds specializes in the production and sales of mid-to-high-end LED products for automotive lighting, camera flashlights, and specialty lighting [1] - The acquisition is expected to create product synergies, as Lumileds has established production bases and teams in Singapore and Malaysia, enhancing Sanan's global supply chain [1]

Core Viewpoint - Shanghai Titan Technology Co., Ltd. announced the acquisition of 100% equity in Apollo Scientific Ltd. for £5,756,429, approximately RMB 55.85 million, aiming to enhance its international presence and product offerings [1][2]. Group 1 - The acquisition will allow Titan to expand its overseas channels and enrich its product line [2]. - Apollo Scientific Ltd. specializes in manufacturing and supplying aromatic, heterocyclic, and aliphatic compounds, including fluorinated compounds and life science reagents [1][2]. - The company is known for its high-quality products, inventory levels, rapid delivery times, and exceptional customer service, supporting clients at every stage of the R&D process [1][2]. Group 2 - Apollo Scientific was established in 1993 and has gradually expanded its business through sales and marketing for small international manufacturers in the UK and Europe [2]. - The transaction is expected to improve supply chain efficiency and profitability through synergies [2].