Core Viewpoint - The article discusses the recent developments regarding the well-known automotive reviewer Chen Zhen, who has faced account suspensions across multiple social media platforms due to tax evasion allegations. The platforms have confirmed that his accounts remain under restrictions despite rumors of their reinstatement [2][4][6]. Group 1: Account Status and Allegations - Chen Zhen's accounts on platforms such as Xiaohongshu, Bilibili, and Weibo are currently under suspension due to violations of laws and platform regulations related to tax evasion [2][4][6]. - The tax authorities reported that Chen Zhen failed to pay personal income tax totaling 1.1867 million yuan, leading to a total penalty of 2.4748 million yuan, which includes back taxes and fines [8][9]. Group 2: Social Media Impact - Following the suspension of his accounts, Chen Zhen expressed a need for self-reflection and acknowledged his mistakes through another account, indicating a shift towards a more positive and constructive approach in his future communications [9][11]. - Chen Zhen has a significant online presence, with over 24 million followers across various platforms, including 10.14 million on Weibo and 10.743 million on Douyin [8]. Group 3: Business Affiliations - Chen Zhen is associated with multiple companies in sectors such as media and commerce, with several of these companies currently operational, including Beijing Ge Rui Chi Advertising Media Co., Ltd. and Beijing Ge Rui Cheng Pin Trading Co., Ltd. [12].

据天眼查APP显示，盛视科技股份有限公司成立于1997年01月16日，注册资本26185.2138万人民币。 （数据宝） 12月22日盛视科技大宗交易一览 进一步统计，近3个月内该股累计发生39笔大宗交易，合计成交金额为1.10亿元。 盛视科技12月22日大宗交易平台共发生34笔成交，合计成交量372.93万股，成交金额9435.09万元。成交 价格均为25.30元，相对今日收盘价折价10.76%。从参与大宗交易营业部来看，机构专用席位共出现在 20笔成交的买方或卖方营业部中，合计成交金额为5288.17万元，净买入5288.17万元。 证券时报·数据宝统计显示，盛视科技今日收盘价为28.35元，上涨3.09%，日换手率为5.81%，成交额为 2.22亿元，全天主力资金净流入1691.90万元，近5日该股累计上涨3.73%，近5日资金合计净流入809.92 万元。 | | | | | 北大街证券营业部 | 圳福民路证券营业部 | | --- | --- | --- | --- | --- | --- | | 11.00 | 278.30 | 25.30 | -10.76 | 招商证券股份有限公司西安 | 招商 ...

责编：万健祎 校对：高源 版权声明 证券时报各平台所有原创内容，未经书面授权，任何单位及个人不得转载。我社保留追 究相关 行 为主体 法律责任的权利。 资本市场并购重组的 "深市活力"正加速释放。 记者梳理发现， 作为优化资源配置、培育新 质生产力、推动产业迭代升级的 重要手段 ， 深市 并购重组在政策红利持续释放、监管服务 精准赋能与市场主体积极作为的三重驱动下，呈现出 "质""量 " 齐升的蓬勃态势。 数据见证 并购重组市场活力 。 2025年以来，深市新增披露并购重组1104单，金额合计5537 亿元，分别同比增长54%和55%；重大资产重组更是突破百单，同比增幅高达60%，市场活 跃度与交易规模实现 双升 。 除重大资产重组外，深市小步并购、嵌入式并购亦可圈可点。2025年以来，深市新增披露未 达到重大资产重组标准的现金并购995单，占同期重组数量的90%。通过小步伐、嵌入式并 购，上市公司围绕主业强链补链，整合效果好，推进效率高，在提升公司质量方面也发挥着 重要作用。如立讯精密（002475）上市后开展嵌入式并购超20次，市值由70亿元增长至超 4000亿元，成长为苹果产业链重要公司。 "产业并购+ ...

记者了解到，接下来，深交所将继续深入落实《关于深化上市公司并购重组市场改革的意见》（以下简 称"并购六条"），积极发挥平台作用，优化监管服务效能，凝聚市场各方合力，加快推动更多重组标杆 性项目落地，进一步支持上市公司通过并购重组做优做强。同时，加大对并购重组内幕交易、利益输送 等违法违规行为的打击力度，切实增强并购重组市场改革成效。 三大趋势勾勒深市并购全景图 今年以来，深市并购重组市场围绕"产业赋能、案例创新、提质增效"形成三大核心趋势，各类并购重组 活动在政策引导与市场需求的双重驱动下有序推进，既展现出规模化重组的作用，也凸显了中小体量并 购的价值。 一是"产业并购"+"新质生产力"双轮驱动态势显著。数据显示，在109单重大资产重组中，产业并购占比 八成，新质生产力标的占比七成，相关标的集中于半导体、信息技术、装备制造等战略性新兴行业，精 准契合产业升级方向。例如，天水华天科技股份有限公司通过收购半导体商华羿微电子股份有限公司 100%股权，顺利切入功率器件领域，进一步优化上市公司产业布局，增强核心竞争力。 二是"标杆案例"+"首单突破"多点涌现，丰富并购重组实践形态，不仅体现在跨界并购、未盈利资产收 购 ...

近日，凤形股份（002760）有限公司(以下简称"凤形股份")发布《发行股份购买资产并募集配套资金暨 关联交易预案》，宣布拟通过发行股份的方式，收购广东华鑫金属资源有限公司持有的白银华鑫九和再 生资源有限公司75%股权。至此，凤形股份成为深圳证券交易所市场(以下简称"深市")年内又一例推进 重大资产重组的上市企业。 今年以来，在政策支持与市场需求的双重驱动下，深市并购重组市场正呈现出量质齐升的良好发展态 势。数据显示，2025年以来，截至目前，深市新增披露并购重组1104单，涉及金额合计达5537亿元，分 别同比增长54%和55%；其中，新增披露重大资产重组更是突破百单，同比增长60%。 记者了解到，接下来，深交所将继续深入落实《关于深化上市公司并购重组市场改革的意见》(以下简 称"并购六条")，积极发挥平台作用，优化监管服务效能，凝聚市场各方合力，加快推动更多重组标杆 性项目落地，进一步支持上市公司通过并购重组做优做强。同时，加大对并购重组内幕交易、利益输送 等违法违规行为的打击力度，切实增强并购重组市场改革成效。 三大趋势勾勒深市并购全景图 今年以来，深市并购重组市场围绕"产业赋能、案例创新、提质增效"形 ...

并购重组作为资本市场核心功能之一，在优化资源配置效率、培育新质生产力发展、推动产业整合升 级、提升上市公司质量和投资价值等方面，发挥着重要的作用。 今年以来，伴随着监管政策持续优化，深市并购重组市场活跃度持续提升，数据显示，2025年以来，深 市新增披露并购重组1104单，金额合计5537亿元，分别同比增长54%和55%；其中，新增披露重大资产 重组更是突破百单，达到109单，同比增长60%。 2024年9月24日，证监会发布《关于深化上市公司并购重组市场改革的意见》（以下简称"并购六 条"），支持上市公司向新质生产力方向转型升级，鼓励加强产业整合，进一步提高监管包容度，提升 重组市场交易效率。 2025年5月16日，证监会修订发布《重大资产重组管理办法》，细化"并购六条"有关改革举措。深交所 同步修订审核规则及配套指南，优化监管审核机制，完善分类监管标准，加强服务引导力度，支持上市 公司依规高效开展并购重组。 在一系列举措推动下，深市并购重组市场"量质齐升"，并展现出三大鲜明特征：一是"产业并购"+"新质 生产力"双轮驱动。在109单重大资产重组中，产业并购占比八成，新质生产力标的占比七成，主要集中 在半导 ...

近日召开的中央经济工作会议将"坚持创新驱动，加紧培育壮大新动能"列为明年经济工作重点任务 之一。记者获悉，相关部门正积极部署，明确2026年工作重点，包括加快建立完善区域创新体系、深入 实施产业基础再造工程和重大技术装备攻关工程、深化拓展制造业数字化转型行动等。 三大国际科技创新中心扩围提质 在北京、上海、粤港澳大湾区三大国际科技创新中心建设中，将北京拓展至京津冀，将上海拓展至 长三角四省市，中央经济工作会议这一重大部署有何深意？ 中央财办有关负责同志在深入解读会议精神时表示，北京、上海、广东2024年研发投入强度分别达 到6.58%、4.35%、3.6%。2025年全球百强创新集群排名中，深圳-香港-广州、北京、上海-苏州分别位 居第1、第4、第6位。拓展国际科技创新中心建设范围，有利于更好推动科技创新和产业创新融合发 展。 北京交通大学中国高端制造业研究中心执行主任朱明皓认为，创新是现代化产业体系的核心驱动 力，加大力度推进科技创新和产业创新深度融合是下一步的重点。 中国银河证券首席经济学家章俊表示，下一步政策重点将着力推动服务业从"量"的增长转向"质"的 赋能，研发服务、技术转移、创业孵化等科技服务业的 ...

Group 1: Global IPO Market Overview - The global IPO market is gradually recovering, with total fundraising reaching $158.4 billion in 2025, an 18% increase from 2024 [1][12][16] - Although the number of IPOs slightly decreased, market liquidity improved, particularly with large IPOs, which accounted for 17% of total fundraising [1][12] - Key factors influencing IPO activities include easing global trade tensions and advancements in high-tech industries like artificial intelligence [1][12] Group 2: Hong Kong IPO Market Performance - Hong Kong's IPO market showed remarkable performance in 2025, with total fundraising of HKD 272.1 billion, a significant increase of 210% compared to 2024 [2][4] - The number of IPOs reached 100, representing a 43% year-on-year growth, positioning Hong Kong as the top global exchange for fundraising with $34.3 billion [2][15] - The market's improvement is attributed to enhanced market sentiment, a surge in new stock projects, and the maturation of technologies like artificial intelligence [2][4] Group 3: A-Share Market Development - The A-share market in mainland China maintained steady growth in 2025, completing 130 IPOs with a total fundraising of approximately RMB 163.7 billion, a 23% increase year-on-year [3][20] - The market structure has optimized, with different exchanges like the Shanghai Stock Exchange and the Science and Technology Innovation Board playing distinct roles in financing [3][20] - Notably, the Science and Technology Innovation Board implemented reforms to support unprofitable high-growth tech companies, reflecting an increasing market tolerance for such firms [3][20] Group 4: A+H Listings and New Economy Companies - The number of companies listed through the A+H method reached a historical high in 2025, with 17 IPOs raising HKD 136.5 billion, a 225% increase [4] - New economy companies saw a significant rise in IPO activities in Hong Kong, with 58 new economy IPOs raising HKD 158.7 billion, indicating a shift towards innovative sectors [4] - The listing process for A+H companies has accelerated, with an average duration of 4 to 6 months, showcasing improved regulatory coordination and market efficiency [4] Group 5: Outlook for 2026 - The report maintains a positive outlook for the IPO market in 2026, with Hong Kong expected to strengthen its position as a leading global financing market due to its regulatory advantages and influx of high-tech companies [5][16] - The A-share market is anticipated to achieve steady growth guided by ongoing reforms and enhanced market inclusivity [5][16] - Increased global interest in Chinese assets and the rapid application of cutting-edge technologies are expected to support the growth of innovative enterprises and contribute to economic structural upgrades [5][16]

Core Viewpoint - The Chinese government emphasizes the importance of state-owned enterprises (SOEs) as a crucial pillar for governance and national development, with a focus on enhancing their strength and efficiency through reforms outlined in the 14th Five-Year Plan [1]. Group 1: Innovation and Technology - State-owned enterprises are identified as the national team for technological innovation, with R&D investments exceeding 1 trillion yuan for three consecutive years, focusing on key technologies such as industrial mother machines and software [2]. - The goal for the 14th Five-Year Plan is to enhance independent and original innovation capabilities, addressing major technological challenges that affect national security and long-term interests [2]. - There is a commitment to improve the conversion of research results into practical applications, with initiatives to establish major testing platforms and promote the market entry of innovative outcomes [3]. Group 2: Reform of State-Owned Enterprises - The 14th Five-Year Plan outlines clear objectives for deepening the reform of SOEs, focusing on enhancing their core functions and competitiveness [4]. - The reform will prioritize the alignment of SOEs with national strategic needs, ensuring that capital is directed towards critical industries and public services [4]. - There is an emphasis on improving corporate governance within SOEs, strengthening the leadership role of the Communist Party, and enhancing management efficiency [4]. Group 3: Optimization of Economic Layout - SOEs are actively involved in upgrading traditional industries and fostering new ones, with an average annual investment growth rate of over 20% in emerging sectors during the 14th Five-Year Plan [6]. - The focus will be on transitioning the industrial system towards higher value-added and technology-intensive sectors, with SOEs playing a leading role in this transformation [6]. - Initiatives will include digital transformation and the integration of advanced technologies such as AI and big data into traditional industries [6]. Group 4: Future Industry Development - The strategy includes nurturing new and future industries, with a focus on sectors like renewable energy, aerospace, and advanced materials, while also exploring cutting-edge fields such as quantum technology and 6G [7]. - A specialized and market-oriented investment and financing system will be established to support the development of these industries, leveraging state capital and various investment funds [7].

Core Viewpoint - Company is planning to issue shares to acquire assets and raise matching funds, with stock suspension starting December 22, 2025, and a transaction proposal expected within 10 trading days [1][7]. Group 1: Acquisition Details - The target for the acquisition is Jinzhou Liaojing Electronic Technology Co., Ltd. (Liaojing Electronics), established in 2007, focusing on integrated circuits, electronic components, and microelectronics [3][9]. - Liaojing Electronics is controlled by Su Zhou, who holds a 36.41% stake, and has invested in four companies, three of which are still operational [4][9]. - Company intends to acquire at least 60% of Liaojing Electronics' shares and has signed a framework agreement with the main counterparties, although the final terms remain uncertain [4][10]. Group 2: Company Operations and Technology - Company aims to apply new generation information technology in the defense and military sectors, providing comprehensive solutions for equipment information and management [4][10]. - It has developed a product matrix that integrates high computing power, cloud collaboration, and autonomous operation capabilities, supporting the entire chain of military manufacturing [5][10]. - The products are utilized across various sectors, including smart equipment management, education, healthcare, and emergency response, facilitating digital transformation and intelligent upgrades [5][10]. Group 3: Recent Stock Activity - As of December 19, the company's stock closed at 69.05 yuan, reflecting an increase of 2.24 yuan, or 3.35% [6][12]. - Earlier, on July 17, the controlling shareholder planned to transfer 4 million shares (5% of total shares) at a price of 44.14 yuan per share, totaling 177 million yuan, without changing the controlling shareholder [5][11].