又一场"算力并购梦"破碎。 10月20日晚，群兴玩具宣布终止收购杭州天宽科技不低于51%股权的计划。这笔持续了8个月的重组 案，最终以"未能达成一致"收场。 至此，这家老牌玩具公司第五次跨界追风口的尝试，再次以失败告终。 今日开盘，群兴玩具遭资金疯狂卖出，截止发稿，15.7万手、近1亿资金封死跌停，股价报6.35元/股。 自2月披露重组计划以来，公司股价先扬后抑，基本回吐全部涨幅。近8个月，公司股价累计跌超44%。 终止"蛇吞象"式并购 群兴玩具昨日晚间披露公告称，因各方未能就交易价格、交易方案等相关核心条款达成一致，公司终止 此前筹划收购杭州天宽科技有限公司（简称"天宽科技"）不低于51%股权的事项。 群兴玩具表示，终止本次重大资产重组不会对公司现有生产经营活动、财务状况和战略发展造成重大不 利影响，不存在损害公司及全体股东尤其是中小股东利益的情形。 回溯公告可知，今年2月25日，公司与天宽科技股东浙江松萌信息技术有限责任公司等签署了《股权收 购框架协议》，拟以现金方式收购天宽科技不低于51%的股权。 五次跨界，五次折戟 群兴玩具的转型之路，堪称A股"追风口"样本。 群兴玩具成立于1996年，最初以传统玩具 ...

群兴玩具(002575)10月21日公告称，公司原拟以现金方式收购杭州天宽科技有限公司不低于51%的股 权，因各方未能就交易价格、交易方案等相关核心条款达成一致，经公司充分审慎研究及与相关交易方 友好协商，同意终止本次重大资产重组事项。终止本次重大资产重组不会对公司现有生产经营活动、财 务状况和战略发展造成重大不利影响，也不存在损害公司及全体股东尤其是中小股东利益的情形。 群兴玩具表示，自筹划重大资产重组事项以来，公司积极组织交易双方以及中介机构稳步推进各项工 作，开展了商业、法律、财务等专项尽职调查，交易各方对本次交易方案进行了多次协商，但未能就交 易价格、交易方案等相关核心条款达成一致。 布局智能算力业务是群兴玩具既定的转型方向，公司已经获得相关算力订单并已形成了一定规模的算力 业务收入。为快速做大智能算力业务，公司一直在寻求并购标的，但在具体执行中公司秉持积极推进但 绝不冒进的原则，同时密切关注智能算力市场的动态变化。考虑到公司目前的体量，从稳健经营的角度 来看，本次收购的终止也并非坏事。 群兴玩具在公告中称，未来公司将继续围绕既定的战略目标，有序开展各项经营管理工作，积极地通过 内生式与外延式发展相结 ...

Core Viewpoint - The company, Qunxing Toys, announced the termination of its plan to acquire at least 51% of Hangzhou Tiankuan Technology due to failure to reach consensus on key terms such as transaction price and party arrangements [1][2]. Group 1: Acquisition Details - The acquisition was initially announced on February 26, leading to a surge in stock prices, but ultimately did not progress as planned [1][2]. - Qunxing Toys stated that the transaction was still in the planning stage and had not been submitted for board or shareholder approval [1]. - The company committed to not planning any major asset restructuring for at least one month following the announcement [1]. Group 2: Financial Performance - Qunxing Toys reported a revenue of 5.79 billion yuan for Tiankuan Technology in 2024, with approximately 58% of that revenue coming from its core business of AI computing center construction and operation [2]. - The company’s stock price has decreased by 24.84% over the past eight months, with a year-to-date decline of 14.44% [3]. - In the first half of the year, the AI computing business generated revenue of 18.11 million yuan, accounting for 10.32% of total revenue, but incurred a net loss of 18.61 million yuan [4]. Group 3: Historical Context - This acquisition attempt marks the fifth restructuring effort by Qunxing Toys since its listing, with previous attempts also failing despite targeting popular sectors [2]. - The company has previously attempted to diversify into various sectors, including mobile gaming and environmental technology, but these efforts have not been successful [2]. - The company’s main revenue source remains alcohol sales, which accounted for over 80% of its revenue, with a low gross margin of 2.32% [5].

版权不仅能保护作品，还能赋能行业发展。从三星堆文创产品到毛绒玩具，再到VR电影"数字一大 ·初心之旅"，版权保护与开发能给产业带来什么？10月16日，第十届中国国际版权博览会在青岛举行， 记者在现场采访了三家参展单位，听他们讲述版权带来的变化。 "我们公司从事毛绒玩具研发生产25年，尤其注重版权的保护。"在江苏展区，扬州安贝斯玩具有限 公司参展人员高静文接受采访时说，作为一家集毛绒玩具方案设计、产品研发、生产销售于一体的外向 型企业，公司有版权的毛绒玩具达3万多种，已入选国家级版权示范单位。"公司有40多名资深设计师， 根据客户需求，设计原创产品，产品图片生成之后，第一时间进入注册流程，申请版权登记。像这款爆 款小恐龙毛绒玩具，凭借版权证书，热销期1个月卖了3500万个。"高静文说。 在中国版权保护中心展区，VR电影"数字一大·初心之旅"带领观众穿越回20世纪初的上海，身临其 境见证中共一大会议召开。据介绍，"数字一大·初心之旅"是由中共一大纪念馆出品、采用LBE VR技术 的红色文化沉浸式体验项目。作为全国首个红色主题大空间VR沉浸式体验项目，打破传统传播方式的 时空限制，让观众走入1921年的上海，在栈桥 ...

【新华企业资讯10月16日】10月15日-17日，由中国玩具和婴童用品协会主办的亚洲规模最大的玩具类展会—— 2025 CTE 中国玩具展&潮玩展 （以下简称"中国玩具展"）正式举办。中国拼搭角色类玩具品牌布鲁可携"积木人"与"积木车"两大品类再度参展，带来"星辰版""群星版""传奇 版""萌酷版""神奇版""奇迹版"等产品系列 100 多款产品，更有 20 余款新品首次展出，覆盖奥特曼、变形金刚、DC、新世纪福音战士、初音未 来、三丽鸥、飞天小女警等近 30 个世界知名 IP。 本次展会上，布鲁可满足 6-16 岁玩家英雄搜集需求的三大产品系列"星辰版""群星版"和"星光版"展出了奥特曼、变形金刚、英雄无限、假面骑 士、火影忍者、超级战队、圣斗士星矢等 IP 的积木人产品。其中，"群星版"作为"积木人"品类的代表产品系列，在本次展会迎来漫威蜘蛛侠群星 版第 5 弹-蛛网纪元、漫威蜘蛛侠群星版第 6 弹-蜘蛛宇宙、圣斗士星矢群星版第 3 弹-黄金十二宫①、假面骑士群星版第 5 弹-创想饱藏、变形金刚 群星版第 9 弹-至暗时刻、超级战队群星版第 2 弹-勇气爆发6大新品的首展。 "星辰版"自 2024 年 1 ...

这背后，离不开"双节+赛事"的双轮驱动。10月3日，2025/2026四川省城市足球联赛（简称"川超"）迎来资阳 中国牙谷队与泸州窖香队的对决，资阳全市同步设置了12个"第二现场"观赛点，将赛事的火热氛围延伸至城市多 个角落。 随着赛事进程的推进，资阳还积极探索将"赛事流量"转化为"发展增量"的有效路径。 A 消费赛场 资阳方特的标志性景观项目"天府之眼"。资阳方特供图 国庆中秋假期结束，资阳文旅市场交出亮眼"成绩单"。记者从资阳市文化广播电视和旅游局获悉，经第三方 公司大数据测算，10月1日至8日，资阳累计接待游客196.84万人次，实现旅游综合收入7.52亿元，按可比口径计算 分别同比增长20.57%和27.03%。 一场球赛 直接带动消费超850万元 10月3日下午3:30，随着主裁判一声哨响，资阳中国牙谷队对阵泸州窖香队的比赛，在四川音乐学院临空经济 区校区足球场正式开赛，场内助威声随着旗帜挥舞响彻云霄。 与此同时，资阳方特国色春秋、资阳市体育馆、安岳普州文化广场、乐至真红巷文旅街区等文旅地标和商圈 广场化身"第二现场"观赛区，挤满了前来观赛的市民和游客。 "太有意思了，这种观赛体验还是头一次！"在资 ...

Core Viewpoint - Private enterprises have become a crucial force in driving high-quality economic development in China and transforming the global economic governance order [1] Group 1: Economic Development and Innovation - The accumulation of high-quality human capital, combined with an effective corporate innovation ecosystem, has unleashed significant innovation momentum and economic value in the Greater Bay Area [3] - The transition from manufacturing-driven to innovation-enabled development is evident in the Greater Bay Area, which is shifting its development engine towards high-quality human capital [4][6] - The Greater Bay Area is witnessing a transformation from "product export" to "value resonance," with numerous enterprises sharing their development stories [15] Group 2: Market Leadership and Growth - Ying Shi Innovation, leveraging panoramic imaging technology, is projected to achieve a revenue of 5 billion yuan in 2024, capturing an 81.7% share of the global panoramic camera market [8][11] - Guangzhou Dailong Packaging Machinery Co., Ltd. is expected to see a 20% growth in business this year, despite a challenging global economic environment, due to its advanced blow molding technology [13] - The Bao'an District has 23 product segments with the highest global market share, including panoramic cameras and bone conduction headphones, and 36 segments with the highest national market share [13] Group 3: Cross-Border Collaboration and Resource Utilization - The establishment of the Hengqin Guangdong-Macao Deep Cooperation Zone has attracted numerous Macao enterprises, with 6,521 Macao-funded companies settled there by October 2024 [17] - The cooperation zone has seen an increase in value added from Macao-funded enterprises, reaching nearly 1.9 billion yuan in the first half of the year [18] - The zone hosts 30 national and provincial-level technology innovation platforms and 268 national high-tech enterprises, enhancing the innovation environment in the Greater Bay Area [20] Group 4: Brand Development and Global Presence - Private enterprises are shifting from "OEM" to "self-owned brands" in global markets, enhancing brand value through technology, design, quality, and innovation [21] - SHEIN, a leading online fashion retailer based in Guangzhou, has become one of the most visited fashion shopping websites globally, with a market share growth of 0.24 percentage points to 1.53% in 2024 [22] - The report emphasizes the need for an organic ecosystem involving government, enterprises, and social institutions to support private enterprises in navigating the global supply chain reconstruction [24]

天眼查App显示，近日，九江有乾玩具有限公司成立，法定代表人为何秀碧，注册资本5万人民币，经 营范围为一般项目：玩具销售，模具销售，玩具、动漫及游艺用品销售，木制玩具销售，玩具制造，塑 料制品制造，塑料制品销售，纸制品销售，纸制品制造，玻璃纤维增强塑料制品销售，玻璃纤维增强塑 料制品制造，包装服务，日用杂品销售，橡胶制品销售，食品用塑料包装容器工具制品销售，互联网销 售（除销售需要许可的商品）（除依法须经批准的项目外，凭营业执照依法自主开展经营活动）。 ...

Core Viewpoint - The company, Shifeng Culture Development Co., Ltd., has announced its plans to provide guarantees for credit financing to support its business operations and those of its subsidiaries, with a total guarantee amount not exceeding RMB 1.2 billion [1][3]. Group 1: Credit Financing Overview - The company plans to apply for a credit financing limit of up to RMB 1.2 billion from financial institutions, including banks and non-bank financial institutions, to meet the funding needs of the company and its subsidiaries [1][2]. - The financing methods include credit, mortgage, or guarantees, and the types of business include loans, bill acceptance, bill discounting, and opening letters of credit [1]. Group 2: Guarantee Details - The company and its subsidiaries will provide mutual guarantees for credit financing, with a total guarantee amount not exceeding RMB 1.2 billion, which includes guarantees for subsidiaries with different asset-liability ratios [3]. - For subsidiaries with an asset-liability ratio exceeding 70%, the guarantee amount will not exceed RMB 500 million, while for those with an asset-liability ratio not exceeding 70%, the guarantee amount will not exceed RMB 700 million [3]. Group 3: Recent Financing Activities - Recently, the company signed a working capital loan agreement with Bank of Communications, Shantou Branch, for a total loan amount of RMB 70 million, which falls within the approved financing limit for 2025 [2]. - The company’s subsidiaries have also signed guarantee contracts with the bank to support the financing activities [4]. Group 4: Financial Data and Guarantee Agreements - The company has cumulative external guarantees amounting to RMB 274.10 million, which accounts for 38.09% of the company's most recent audited total assets, with no overdue guarantees or litigation-related guarantees [11]. - The guarantees include various contracts such as working capital loan contracts, guarantee contracts, and mortgage contracts with the bank [11].

Core Viewpoint - China's foreign trade demonstrates resilience and growth despite global economic challenges, with significant exports of cultural and innovative products contributing to this success [2][5]. Group 1: Trade Performance - In the first three quarters, China's exports of holiday goods, dolls, and animal-shaped toys exceeded 50 billion yuan, reaching over 200 countries and regions [2]. - Total goods trade in the first three quarters amounted to 33.61 trillion yuan, reflecting a year-on-year growth of 4%, which is an acceleration of 0.5 percentage points compared to the first eight months [2][5]. Group 2: Key Strengths - The first keyword "confidence" highlights the stability of China's foreign trade, supported by a large industrial scale and strong supply chain capabilities [3]. - The second keyword "vitality" emphasizes the new growth momentum driven by the continuous development of new productive forces and the optimization of export product structures [3][4]. - The third keyword "sharpness" points to the rise of "national trend products," which represent a blend of Chinese culture, creativity, and manufacturing strength, gaining popularity both domestically and internationally [4]. Group 3: Notable Exports - Significant exports include a liquefied natural gas production platform valued at nearly 15 billion yuan, capable of meeting the gas needs of a city with a population of ten million [4]. - Exports of industrial robots increased by 54.9% in the first three quarters, showcasing the expanding application scenarios for Chinese manufacturing [4]. Group 4: Future Outlook - The upcoming China International Import Expo in Shanghai will feature a range of innovative products, including family companion robots, indicating ongoing advancements in technology and product offerings [4]. - Overall, China's foreign trade is characterized by resilience, structural optimization, and a dual focus on quantity and quality, contributing significantly to global economic stability [5].