Core Viewpoint - Shenzhen Expressway Company Limited (00548) has made multiple investments in structured deposit products with Jiangsu Bank, indicating a strategy to enhance liquidity and yield through financial instruments [1] Group 1: Investment Details - The company subscribed to structured deposit products with a principal amount of RMB 50 million each on October 27, October 28, and November 11, 2025 [1] - An additional subscription of RMB 50 million for the sixth structured deposit product was made on November 12, 2025 [1]

Core Viewpoint - Fudan Zhangjiang's stock price has decreased by 1.97% this week, closing at 8.94 yuan, with a total market capitalization of 9.267 billion yuan as of October 17, 2025 [1] Company Announcements Summary - Fudan Zhangjiang signed a structured deposit agreement with Ping An Bank, investing 220 million yuan in a principal-protected floating income product with a term of 79 days and an expected annualized return of 0.45%-1.90%, linked to the Shanghai gold price [2] - The company's wholly-owned subsidiary, Taizhou Fudan Zhangjiang, had its application for the listing of Obeticholic Acid Tablets (5mg, 10mg) for the treatment of primary biliary cholangitis rejected by the National Medical Products Administration. The project has incurred approximately 125 million yuan in R&D costs, which have been accounted for in the financial statements, but the rejection will not significantly impact the company's current financial status [2][5] - Fudan Zhangjiang entered into two structured deposit agreements with the Bank of China, totaling 170 million yuan, with terms of 63 and 78 days, linked to GBP/USD and EUR/USD exchange rates, respectively, and expected annualized returns ranging from 0.35% to 1.70% [3] - The company also signed a structured deposit agreement with China Merchants Bank, totaling 100 million yuan, with a term of 76 days, linked to gold prices, and expected annualized returns of 1.00%-1.65% [3]

Core Viewpoint - Fudan Zhangjiang (01349) has entered into agreements with China Merchants Bank for structured deposit products, indicating a strategic move to utilize idle funds for investment opportunities [1] Group 1: Company Agreements - The company has signed a structured deposit product agreement I with China Merchants Bank [1] - A wholly-owned subsidiary, Taizhou Fudan Zhangjiang, has also entered into a structured deposit product agreement II with China Merchants Bank [1] - The total amount for the structured deposit products is set at RMB 100 million [1]

Core Viewpoint - Fudan Zhangjiang (01349) has entered into agreements with Bank of China to subscribe to structured deposit products totaling RMB 170 million using temporarily idle funds raised from its A-share public offering [1] Group 1 - The company has signed two structured deposit product agreements with Bank of China [1] - The total amount for the structured deposit products is RMB 170 million [1] - The funds used for this investment are temporarily idle funds from the company's A-share public offering [1]

Core Viewpoint - The State-owned Assets Supervision and Administration Commission (SASAC) has responded to several high-interest inquiries regarding regulations on state-owned enterprises, particularly focusing on the classification of structured deposits, rules on equity repurchase, and the procedures for capital increase in state-owned enterprises [3][4][5][9]. Group 1: Structured Deposits - Structured deposits are not classified as high-risk financial products under the regulations for non-financial enterprises, as they differ fundamentally from non-principal guaranteed wealth management products [4]. Group 2: Equity Repurchase Regulations - The regulations outlined in the "Enterprise State-owned Assets Transaction Operation Rules" prohibit the inclusion of equity repurchase clauses in capital increase agreements, applicable to state-funded enterprises [5][7]. - Existing repurchase clauses established before the implementation of the new rules are still subject to evaluation regarding their enforceability and associated risks [7]. Group 3: Capital Increase Procedures - The capital increase process for state-owned enterprises must adhere to asset evaluation results and cannot include price adjustments based on operational performance during the transaction period [9]. - The rules governing capital increases do not allow for price reductions in the event that no investors are found during the initial public offering [9].

Core Viewpoint - Aerospace Intelligence (航天智造) reported a moderate increase in revenue and net profit for the first half of 2025, with concerns regarding accounts receivable and declining profit margins [1][2]. Financial Performance - Total revenue for the first half of 2025 reached 4.163 billion yuan, an increase of 8.65% year-on-year [1]. - Net profit attributable to shareholders was 392 million yuan, up 1.2% year-on-year [1]. - In Q2 2025, total revenue was 2.008 billion yuan, a year-on-year increase of 3.73%, while net profit decreased by 6.48% to 206 million yuan [1]. - The gross margin was 19.38%, down 8.33% year-on-year, and the net margin was 10.84%, down 3.78% year-on-year [1]. - The company’s accounts receivable accounted for 222.43% of the latest annual net profit, indicating a significant concern regarding cash flow [1][3]. Key Financial Metrics - The company’s operating cash flow per share was 0.38 yuan, a decrease of 16.01% year-on-year [1]. - Earnings per share remained stable at 0.46 yuan, reflecting a slight increase of 1.18% year-on-year [1]. - The total liabilities decreased significantly by 70.92% to 86.9 million yuan [1]. - The company’s net assets per share increased by 11.75% to 6.4 yuan [1]. Business Segments - The automotive parts business saw a revenue increase of approximately 10%, benefiting from a 13% year-on-year growth in passenger car sales [4]. - The oil and gas equipment segment maintained performance compared to the previous year, while the high-performance functional materials segment experienced a decline due to market changes [4].

( 於百慕達註冊成立之有限公司 ) (股份代號：00152) 須予披露的交易 ( 於中華人民共和國註冊成立的股份有限公司 ) (股份代號：00548) 自願性公告 聯合公告 深高速認購兩項結構性存款產品 認購兩項結構性存款產品 深 圳 國 際 及 深 高 速 (深 圳 國 際 擁 有 約 47.30%權 益 的 附 屬 公 司 )各自的 董事會宣佈，深高速於 2025 年 7 月 30 日認購了本金為人民幣 5 億元 的結構性存款產品(第一期)，並於 2025 年 7 月 31 日進一步認購了本 金為人民幣 5 億元的結構性存款產品(第二期)。 香港交易及結算所有限公司及香港聯合交易所有限公司對本聯合公告的內容概不負責，對其準 確性或完整性亦不發表任何聲明，並明確表示，概不對因本聯合公告全部或任何部份內容而產 生或因倚賴該等內容而引致的任何損失承擔任何責任。 - 1 - 認購兩項結構性存款產品 深圳國際及深高速各自的董事會宣佈，深高速於 2025 年 7 月 30 日認 購了本金為人民幣 5 億元的結構性存款產品(第一期)，並於 2025 年 7 月 31 日進一步認購了 本金為人民幣 5 億元的結構性存款產 ...

Core Viewpoint - The announcement details the investment activities of Xiamen King Long United Automotive Industry Co., Ltd., focusing on the company's structured deposits and entrusted financial management for the period from April to June 2025, aiming to enhance fund utilization efficiency and reduce financial costs while ensuring fund safety [1][3]. Group 1: Financial Management Overview - The company plans to utilize temporarily idle self-owned funds for purchasing fixed-income or low-risk short-term financial products, with a management period of less than one year [2][3]. - The total amount for entrusted financial management is CNY 4.392 billion [2]. - The entrusted financial management products include various structured deposits linked to currency exchange rates and other financial instruments [1][2]. Group 2: Product Details - The structured deposit products include: - Company structured deposits linked to a three-tier exchange rate [3]. - Various products from banks such as China Everbright Bank, Bank of China, and Industrial and Commercial Bank of China [2][3]. - Expected annualized returns for these products range from 1% to 2.4%, depending on the specific product and market conditions [3][4]. Group 3: Risk Management and Compliance - The board of directors has approved the financial management proposal, ensuring compliance with legal responsibilities and the absence of misleading statements [1][3]. - The company emphasizes the importance of fund safety while pursuing investment returns [3][4].

Core Viewpoint - Jin Niu Chemical (600722.SH) held board and supervisory meetings to discuss key proposals related to the company's 2024 performance, profit distribution plan, and 2025 financial management strategy [1] Financial Performance - In 2024, Jin Niu Chemical reported a revenue of 499.35 million yuan, a decrease of 2.35% year-on-year, while net profit attributable to shareholders increased by 56.73% to 52.62 million yuan [2][3] - The company's net profit after deducting non-recurring gains and losses was 44.05 million yuan, reflecting a 56.24% increase compared to the previous year [2][3] - Cash flow from operating activities decreased by 45.89% to 87.82 million yuan [3] Revenue Breakdown - The revenue from methanol, the main product, was 472 million yuan, an increase of 2.56% year-on-year, with a cost of 381 million yuan, down by 1.83% [4] - The gross margin for methanol was 19.23%, up by 3.61% year-on-year [4] - PVC trade revenue was 67,700 yuan, a significant decrease of 99.76%, with a cost of zero, resulting in a gross margin of 100% [4] Product Pricing and Costs - The average selling price of methanol was 2,322.14 yuan per ton, slightly down by 0.03% from the previous year [6] - The average procurement price of the main raw material, coke oven gas, increased by 0.38% to 0.485 yuan per cubic meter [7] Profit Distribution and Financial Strategy - Due to a negative distributable profit of -1.219 billion yuan, the company proposed not to distribute dividends or increase capital for 2024 [8] - For 2025, the company plans to engage in structured deposits with a maximum single deposit balance of 590 million yuan, with a term not exceeding 90 days [9] Upcoming Events - A shareholders' meeting is scheduled for May 6, 2025, to review the board's work report and other proposals [11]