Core Viewpoint - 瑞纳智能 reported a revenue of 92.5867 million yuan for the first half of 2025, reflecting a year-on-year growth of 27.20% [1] Financial Performance - The company recorded a net profit attributable to shareholders of -6.9287 million yuan [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -16.6430 million yuan [1] - Basic earnings per share were -0.05 yuan [1] Dividend Distribution - The company plans to distribute a cash dividend of 0.74 yuan (including tax) for every 10 shares to all shareholders [1]

Group 1 - The company Jin Fang Energy announced the convening of its fourth board meeting and supervisory board meeting on August 21, 2025, to review a proposal regarding the use of idle raised funds for cash management [2] - The company approved the use of up to RMB 120 million of idle raised funds for cash management, ensuring that it does not affect the progress of fundraising project construction [2] - The implementation period for this cash management is valid for 12 months from the date of board approval, with the funds being able to be rolled over within the specified limit and period [2]

Group 1 - The core point of the news is that Ruina Intelligent has seen a notable increase in financing buy-in amounts over the recent trading days, indicating potential investor interest [1] - On August 14, Ruina Intelligent had a financing buy-in amount of 0.16 billion, ranking 2459 in the market, with a financing repayment amount of 0.15 billion, resulting in a net buy of 0.7684 million [1] - Over the last three trading days (August 12-14), Ruina Intelligent received financing buy-ins of 0.20 billion, 0.16 billion, and 0.16 billion respectively, showing consistent investor engagement [1] Group 2 - In terms of securities lending, on the same day, there were no shares sold or net sold, indicating a lack of short-selling activity [2]

Core Viewpoint - The company focuses on technology research and development in power control, voltage regulation, and energy efficiency control to achieve precise temperature control through dynamic power output adjustment and optimization of motor operation status [1] Group 1: Technology and Product Development - The company's heat pump units are equipped with self-developed magnetic levitation compressors specifically designed for medium to large centralized heating scenarios, featuring "waste heat utilization" and "large temperature difference transmission" product solutions [1] - The magnetic levitation compressor operates stably across a wide temperature range, meeting dual demands for heating supply at 50°C in winter and cooling water output at 7°C in summer, suitable for scenarios requiring both cooling and heating loads [1] Group 2: Market Position and Future Directions - Currently, the company has not entered the temperature control field for IT data centers, indicating a potential area for future expansion [1]

Group 1 - On August 5, the financing buy-in amount for Lianmei Holdings was 0.11 billion, ranking 1168th in the two markets, with a financing repayment amount of 0.07 billion and a net buy-in of 3.9999 million [1] - Over the last three trading days from August 1 to August 5, Lianmei Holdings received financing buy-ins of 0.02 billion, 0.35 billion, and 0.11 billion respectively [1] Group 2 - On the same day, the short selling amounted to 45,000 shares, with a net sell of 33,200 shares [2]

Summary of Green Power Conference Call Company Overview - **Company**: Green Power - **Industry**: Waste Management and Energy Production Key Points Operational Performance - Significant increase in gas supply volume by 97% in Q1 2025, with expectations for continued high growth throughout the year [2][4] - All projects in Rushan have transitioned to gas supply, while the Haining project has shown substantial gas supply in the first half of the year [2][4] - Total contracts signed by mid-2025 increased by four to five compared to the previous year, totaling around 14 to 15 projects, with 10 already supplying gas [2][4] Cost Management - Effective cost control through centralized procurement and refined management, resulting in a cost reduction of over 10 million yuan in Q1 2025, with expectations for this trend to continue [2][7] - Capital expenditures projected to decrease: 500 million yuan in 2024, approximately 400 million yuan in 2025, and around 300 to 400 million yuan in 2026 due to the construction of the second phase in Guangyuan [2][7] Project Highlights - Major projects contributing to heating volume include Haining and Rushan, with Haining expected to supply around 300,000 to 400,000 tons of heat annually, and Rushan projected to supply over 200,000 tons [2][8] - Total heating volume for the first half of 2025 is estimated at 400,000 to 500,000 tons, compared to 560,000 tons for the entire year of 2024 [8] Financial Insights - Overall operational performance in the first half of 2025 is positive, with slight growth in waste processing and power generation compared to the previous year [4] - Financial expenses decreased by approximately 20 million yuan in Q1 2025, with a continued downward trend into Q2 [21] Challenges and Risks - Poor national subsidy settlement situation in the first half of 2025, with garbage processing fee settlements showing some improvement but not fully resolved [12] - Local financial difficulties affecting garbage processing fee collections, with some regions experiencing significant delays [13][14] Future Plans - The company is awaiting strategic guidance from major shareholders and has begun internal research for the upcoming 15th Five-Year Plan [25] - Ongoing commitment to mergers and acquisitions to strengthen core business and expand project bidding [26] Technological Advancements - Significant progress in sludge co-incineration technology, which has been implemented in multiple projects with low investment and high economic benefits [5][27] Market Conditions - The company is exploring mobile heating solutions and third-party partnerships for pipeline construction and user expansion [9][10] Dividend Policy - The company has maintained a cash dividend policy since its H-share listing, with plans for high cash dividends based on annual performance and cash flow [29] Green Certificate Sales - The company has issued over 500,000 green certificates, with a low selling price impacting revenue [15] Conclusion Green Power is experiencing robust operational growth, particularly in gas supply and heating projects, while effectively managing costs. However, challenges remain in subsidy settlements and local fee collections. The company is focused on strategic planning and technological advancements to enhance its market position.

Summary of Key Points Core Viewpoint - Disen Co., Ltd. experienced a significant stock price increase of 18.56% with a trading volume turnover rate of 45.33%, indicating high market activity and interest in the stock [2] Trading Activity - The total trading volume for Disen Co., Ltd. reached 1.129 billion yuan, with a price fluctuation amplitude of 20.67% during the trading day [2] - The stock was listed on the Shenzhen Stock Exchange's watchlist due to its high turnover rate [2] Institutional Activity - Institutional investors net sold 22.8793 million yuan worth of shares, while retail trading desks collectively net bought 9.5648 million yuan [2] - The top five trading desks accounted for a total transaction volume of 171 million yuan, with a net selling amount of 13.3145 million yuan [2] Fund Flow - The stock saw a net outflow of 59.782 million yuan in principal funds, with large orders contributing to a net outflow of 27.2636 million yuan and 32.5184 million yuan respectively [2] - Over the past five days, the total net outflow of principal funds amounted to 91.6405 million yuan [2] Specific Trading Desk Activity - The top buying trading desk was Dongfang Caifu Securities, which bought 29.2345 million yuan worth of shares, while the top selling desk was an institutional specialized seat that sold 35.1974 million yuan [2] - Four institutional specialized seats were involved in the trading, with a total buying amount of 40.0025 million yuan and a selling amount of 62.8818 million yuan, resulting in a net selling of 22.8793 million yuan [2]

Group 1 - The company received a government subsidy of 20 million yuan, which accounts for 26.06% of the audited net profit for the last fiscal year [1][2] - The subsidy is classified as a revenue-related government grant, intended to compensate for future costs or losses [1][2] - The company plans to recognize the entire subsidy amount in the relevant accounts, expecting an impact of 20 million yuan on the current year's profit [2] Group 2 - The accounting treatment of the government subsidy will be subject to confirmation by the annual audit [2]

电话：010-52682888 传真：010-52682999 邮编：100033 北京德恒律师事务所 关于联美量子股份有限公司差异化权益分派特殊除权除息的法律意见 北京德恒律师事务所 关于联美量子股份有限公司 差异化权益分派特殊除权除息的 北京德恒律师事务所 关于联美量子股份有限公司 差异化权益分派特殊除权除息的 法律意见 北京市西城区金融街 19 号富凯大厦 B 座 12 层 法律意见 致：联美量子股份有限公司 北京德恒律师事务所（以下简称本所）接受联美量子股份有限公司（以下简 称公司）委托，根据《中华人民共和国公司法》（以下简称《公司法》）、《中 华人民共和国证券法》（以下简称《证券法》）、《上海证券交易所上市公司自 律监管指引第 7 号——回购股份》（以下简称《回购指引》）、《联美量子股份 有限公司章程》（以下简称《公司章程》）等相关法律法规及规范性文件的规定， 就公司差异化权益分派特殊除权除息（以下简称本次差异化权益分派）发表法律 意见。 为出具本法律意见，本所律师特作如下声明： 法律业务管理办法》《律师事务所法律业务执业规则（试行）》及本法律意见出 具日之前已经发生或存在的事实和中国现行有效的法律 ...

Core Viewpoint - The legal opinion from Beijing Deheng Law Firm confirms that the 2024 Annual General Meeting of Unimicron Technology Corporation was convened and conducted in compliance with relevant laws and regulations, ensuring the legitimacy of the meeting and its resolutions [3][10]. Group 1: Meeting Procedures - The 2024 Annual General Meeting is scheduled for May 23, 2025, and the notice was sent to all shareholders more than 20 days prior to the meeting [2][5]. - The meeting was held at the designated location and time as stated in the notice, confirming adherence to the announced details [5][6]. - The meeting's procedures, including the qualifications of attendees and voting processes, were verified to comply with the Company Law and the company's articles of association [3][9]. Group 2: Attendance and Voting - A total of 160 shareholders attended the meeting, representing 1,480,910,090 shares, which is 65.4447% of the total share capital [6][7]. - The voting process included both on-site and online voting, with specific time frames established for participation [6][8]. - The voting results showed overwhelming support for the proposals, with approval rates exceeding 99% for several resolutions [9][10]. Group 3: Legal Validity - The legal opinion asserts that all aspects of the meeting, including the convening, attendance, proposals, and voting results, are in accordance with the Company Law, Securities Law, and the company's regulations [10][11]. - The resolutions passed during the meeting are deemed legally valid and effective, with no objections raised by attendees [10][11].