Core Viewpoint - The Supreme People's Court has released typical cases to enhance judicial services and support the coordinated development of the Beijing-Tianjin-Hebei region, aiming to establish it as a model area for Chinese-style modernization [1] Case Summaries Case 1: Land Lease Dispute - The case involves a land lease dispute between Beijing's prison management and a Tianjin aquaculture company regarding a piece of land in Beijing's Qinghe Farm, which is geographically located in Tianjin [2][3] - The court ruled that the Tianjin company must vacate the land and pay usage fees, while the prison management must compensate for the trees on the land [3][4] Case 2: Patent Infringement - A patent infringement case was filed by a designer against a trading company and its online store for selling a similar children's toy without permission, claiming damages of 50,000 RMB [6][7] - The court found no infringement as the designs were deemed sufficiently distinct, leading to the dismissal of the case [7][8] Case 3: Marine Environmental Public Interest Litigation - A public interest lawsuit was initiated against a shipping company for a sunken vessel that posed environmental risks in the Tianjin-Hebei sea area, with a ruling mandating the company to recover the sunken ship [9][10] - The execution faced challenges due to the complexity of the recovery operation, but ultimately, the ship was successfully retrieved without environmental contamination [10][11][12] Case 4: Financing Lease Dispute - A financing lease dispute arose between a drone company and a financial leasing company due to delayed payments, leading to a court case [13][14] - The court facilitated a mediation process that resulted in a mutually agreeable payment plan, allowing the drone company to continue operations [14][15] Case 5: Construction Contract Dispute - A construction contract dispute occurred between a lighting engineering company and a real estate developer over unpaid project fees after quality issues were identified [16][17] - The court employed a third-party mediation organization to resolve the dispute, leading to a successful agreement between the parties [17][18] Case 6: Illegal Fishing Case - Four individuals were prosecuted for illegal fishing during a prohibited period, resulting in a court ruling that included both criminal penalties and a requirement to restore the fish population [19][20] - The case highlighted the collaborative judicial efforts between Beijing and Hebei courts to protect aquatic resources and promote ecological restoration [20][21]

Core Viewpoint - The announcement details the upcoming listing and circulation of 45,517,039 restricted shares of Hubei Chaozhuo Aviation Technology Co., Ltd., which will be available for trading starting July 1, 2025, following a 36-month lock-up period after the company's initial public offering [1][12]. Summary by Sections 1. Listing of Restricted Shares - The total number of shares to be listed is 45,517,039, which represents 50.7984% of the company's total shares [1][13]. - The shares will be available for trading on July 1, 2025 [1][13]. 2. Changes in Share Capital - Since the formation of the restricted shares, there have been no changes in the company's share capital due to profit distribution or capital reserve transfers [2]. 3. Commitments Related to Restricted Shares - Nine shareholders are involved in the release of restricted shares, with commitments to not sell their shares under certain conditions, including if the stock price falls below the issue price [3][5][10]. - The commitments include a lock-up period of 36 months from the date of the initial public offering, with automatic extensions under specific circumstances [3][6]. 4. Compliance and Verification - The company has confirmed that there are no fund occupation issues by controlling shareholders or related parties [12]. - The underwriting institutions have verified that the release of restricted shares complies with relevant regulations and that the shareholders have adhered to their commitments [12][13].

上海市锦天城律师事务所 上海市锦天城律师事务所 关于湖北超卓航空科技股份有限公司 法律意见书 致：湖北超卓航空科技股份有限公司 关于湖北超卓航空科技股份有限公司 法律意见书 地址：上海市浦东新区银城中路 501 号上海中心大厦 11、12 层 电话：021-20511000 传真：021-20511999 邮编：200120 上海市锦天城律师事务所 法律意见书 上海市锦天城律师事务所（以下简称"本所"）接受湖北超卓航空科技股份 有限公司（以下简称"公司"）委托，就公司召开 2025 年第三次临时股东大会 （以下简称"本次股东大会"）的有关事宜，根据《中华人民共和国公司法》（以 下简称"《公司法》"）、《上市公司股东会规则》等法律、法规和其他规范性 文件以及《湖北超卓航空科技股份有限公司章程》（以下简称"《公司章程》"） 的有关规定，出具本法律意见书。 为出具本法律意见书，本所及本所律师依据《律师事务所从事证券法律业务 管理办法》和《律师事务所证券法律业务执业规则》等规定，严格履行了法定职 责，遵循了勤勉尽责和诚实信用原则，对本次股东大会所涉及的相关事项进行了 必要的核查和验证，审查了本所认为出具该法律意见书所 ...

Core Insights - The 9th China-South Asia Expo opened in Kunming, Yunnan, featuring 73 countries and regions with over 2,500 enterprises participating, emphasizing international cooperation and market development [1][2] Trade Cooperation - The expo showcased diverse products from South Asia, including handicrafts, textiles, and food items, providing a platform for South Asian goods [2] - The trade volume between China and South Asian countries reached nearly $200 billion last year, doubling over the past decade with an average annual growth of approximately 6.3% [1][2] Investment Opportunities - The expo highlighted investment cooperation in infrastructure and agriculture, with specialized pavilions for manufacturing, green energy, and modern agriculture [4] - Companies like Yiwit (Nanjing) Aerospace Technology showcased innovative products such as electric vertical takeoff and landing aircraft, indicating growth in low-altitude economy [4][5] Technological Advancements - Cutting-edge technologies were displayed, including AI translation screens and smart energy solutions, showcasing China's advancements in various sectors [5] - The establishment of a Traditional Chinese Medicine pavilion aimed to promote the TCM industry and its cultural significance [6] Tourism and Lifestyle Promotion - The "Travel and Living in Yunnan" pavilion aimed to enhance tourism and lifestyle branding, promoting Yunnan's unique culture and attractions [7] - The expo is part of Yunnan's ongoing efforts to strengthen trade ties with South Asia and Southeast Asia, fostering deeper economic cooperation and cultural exchanges [7]

Group 1 - The consumer goods trade-in subsidy program in Xifeng District has been suspended as of June 19, 2025, due to the exhaustion of available funds [2][3] - During the suspension period, no subsidies will be provided for products purchased through the trade-in program, both online and offline [2] - Consumers who made eligible purchases before the suspension must submit their application materials by July 5, 2025, to receive subsidies [2]

Key Points - The company Jiangsu Maxinlin Aviation Technology Co., Ltd. has announced a cash dividend distribution of 0.157 CNY per share, totaling approximately 22.83 million CNY [1] - The dividend distribution plan was approved at the annual shareholders' meeting held on May 22, 2025 [1] - The total number of shares for the dividend calculation is 145,426,667 [1] Dividend Distribution Details - The cash dividend will be distributed to all shareholders registered with China Securities Depository and Clearing Corporation Limited, Shanghai Branch, as of the close of trading on the record date [1] - The actual cash dividend for individual shareholders holding shares for more than one year is exempt from personal income tax, while those holding for less than one year will have tax withheld upon transfer [2] - For Qualified Foreign Institutional Investors (QFII), a 10% corporate income tax will be withheld, resulting in a net dividend of 0.1413 CNY per share [3] - Other institutional investors and corporate shareholders will be responsible for their own tax declarations, with the actual cash dividend being 0.157 CNY per share [5]

Group 1 - Diplomats and business representatives from countries such as Brazil, Peru, Argentina, and Nigeria visited Qiantang to explore business opportunities and strengthen economic ties through the BRICS Special Economic Zone China Cooperation Center [1] - Sanhua Holding Group showcased its development in "Belt and Road" countries, highlighting its leadership in HVAC, home appliances, and automotive thermal management sectors [1] - The Qiantang region aims to enhance practical economic cooperation through industry connections and policy research facilitated by the BRICS Special Economic Zone [1] Group 2 - During the "Country Matching Conference," Hangzhou enterprises presented products and projects to explore business opportunities with representatives from "Belt and Road" countries [2] - Hangzhou Guanglian Composite Materials Co., Ltd. aims to expand into South American markets with its food-grade oil-proof paper products, which are already sold in the US, Canada, Germany, and Poland [2] - The Qiantang authorities emphasized the importance of a dual-channel platform that connects consular resources with enterprise needs to help local businesses integrate into international markets [2]

Core Viewpoint - The legal opinion letter from Shanghai Jintiancheng Law Firm confirms that Hubei Chaozhuo Aviation Technology Co., Ltd.'s differentiated equity distribution plan for 2024 complies with relevant laws and regulations, ensuring no harm to the interests of the company and its shareholders [6][7]. Group 1: Differentiated Equity Distribution - The differentiated equity distribution is based on the company's decision to repurchase shares using its own funds, with a total of 1,265,682 shares repurchased, accounting for 1.41% of the total share capital [4][5]. - The company plans to distribute a cash dividend of 3.40 RMB (including tax) for every 10 shares held, without any stock bonus or capital increase [5][6]. - The total distributable profit available for the parent company as of December 31, 2024, is 188.593 million RMB [5]. Group 2: Legal Compliance and Basis - The legal opinion is based on the review of relevant documents and the understanding of current laws, including the Company Law and Securities Law [2][3]. - The company has provided all necessary documents and confirmations to the law firm, ensuring their authenticity and completeness [2][3]. - The differentiated equity distribution plan is deemed to be in accordance with the Company Law, Securities Law, and other relevant regulations, with no adverse effects on the company or its shareholders [6][7].

Core Viewpoint - The company, Hubei Chaozhuo Aviation Technology Co., Ltd., has announced a differentiated cash dividend distribution plan, approved at the 2024 annual shareholders' meeting, with a cash dividend of 0.34 RMB per share [1][2]. Dividend Distribution Plan - The company plans to distribute a cash dividend of 3.40 RMB for every 10 shares held, with no capital reserve conversion or stock bonus [2]. - The total share capital is 89,603,310 shares, with 1,265,682 shares in the repurchase account excluded from the distribution, resulting in 88,337,628 shares eligible for the dividend [2]. - The actual cash dividend per share is approximately 0.3352 RMB after adjustments [3]. Relevant Dates - Key dates include the record date, ex-dividend date, and cash dividend payment date, which are specified in the announcement [5]. Implementation of Distribution - The cash dividends will be distributed through China Securities Depository and Clearing Corporation Limited, Shanghai Branch, to shareholders registered by the record date [5]. - Shareholders who have not completed designated transactions will have their dividends held by the clearing company until the transactions are completed [5]. Taxation on Dividends - For individual shareholders holding shares for over one year, the dividend income is exempt from personal income tax, resulting in a net cash dividend of 0.34 RMB per share [6]. - For shares held for less than one year, the tax treatment varies, with a 20% tax rate applied for holdings of one month or less, leading to a net dividend of 0.272 RMB per share [7]. - Qualified Foreign Institutional Investors (QFII) will have a 10% withholding tax applied, resulting in a net cash dividend of 0.306 RMB per share [8]. Additional Information - The company will not withhold corporate income tax for other institutional investors, who are responsible for their own tax declarations [9]. - For inquiries regarding the dividend distribution, shareholders can contact the company's securities department [9].

Core Insights - Shanghai is developing a high-quality low-altitude economy industry, aiming for a core industry scale exceeding 50 billion yuan by 2027 [1] - Financial institutions in Shanghai are enhancing support for the low-altitude economy through diverse financial products, particularly for electric vertical takeoff and landing (eVTOL) aircraft [1][2] Financial Support Initiatives - The Shanghai Municipal Government has introduced policies to strengthen financial support for the low-altitude economy, including increasing funding for industrial transformation and attracting social and state capital [2] - Yangpu District is guiding state-owned enterprises and social capital to establish early-stage investment funds focused on incubators and high-quality low-altitude economy companies [2] - Jinshan District has set up a special fund for the low-altitude economy and is collaborating with banks to provide a credit limit of 10 billion yuan for new productivity development loans [2] Strategic Partnerships - Financial leasing companies are actively engaging in the low-altitude economy, with significant agreements such as a strategic partnership between Puyin Financial Leasing and Shanghai Fengfei Aviation Technology for 100 eVTOL aircraft [3] - China Bank Leasing has also signed an intention agreement for 100 E20 eVTOL aircraft with Shanghai Shide Technology [3] Company Innovations and Challenges - Shanghai Volant Aviation Technology has developed the VE25-100 eVTOL, which is the largest known manned eVTOL by takeoff weight and cabin space [4] - Traditional bank credit systems have posed challenges for innovative companies like Volant, but Shanghai banks are adapting their evaluation criteria to support such enterprises [4] - Shanghai Shide Technology is expanding its operations and has received cross-border financial service support from China Bank [5] Industry Growth and Financial Solutions - The electric drive industry related to eVTOLs is expected to grow significantly, with companies like Shanghai Yiweike Electric Technology facing cash flow challenges due to payment cycles [6] - Shanghai Bank has provided credit support to Yiweike, facilitating its product development and market expansion [6] - Shanghai Liontail Intelligent Technology has received entrepreneurial guarantee loans from Shanghai Bank to overcome funding difficulties during its product development phase [7] - China Bank has also supported Qianxun Positioning Network in its core technology development with a comprehensive financial service system [7]