Group 1 - The core point of the article is that *ST Lingda announced the convening of its 30th meeting of the sixth board of directors to review the financial investment agreement related to its restructuring investment agreement [1] - For the first half of 2025, *ST Lingda's revenue composition is as follows: EPC engineering business accounts for 84.73%, photovoltaic power generation business accounts for 13.84%, and other businesses account for 1.43% [1] - As of the time of reporting, *ST Lingda has a market capitalization of 2.8 billion yuan [1] Group 2 - The A-share market has surpassed 4000 points, marking a significant resurgence after a decade of stagnation, with technology leading the market's transformation into a "slow bull" new pattern [1]

Group 1 - The core point of the news is that Wolong New Energy's stock price increased by 5.07% to 9.54 CNY per share, with a trading volume of 448 million CNY and a turnover rate of 6.98%, resulting in a total market capitalization of 6.683 billion CNY [1] - Wolong New Energy Group Co., Ltd. is located in Shaoxing City, Zhejiang Province, and was established on July 17, 1993, with its listing date on April 15, 1999. The company's main business includes real estate development and sales [1] - The revenue composition of Wolong New Energy is as follows: mineral trade accounts for 67.33%, real estate sales 13.99%, photovoltaic power generation 8.35%, energy storage system sales 8.20%, and other revenues 2.13% [1] Group 2 - From the perspective of the top ten circulating shareholders of Wolong New Energy, a fund under Southern Fund ranks among them. The Southern CSI Real Estate ETF Initiated Link A (004642) reduced its holdings by 99,700 shares in the third quarter, holding a total of 4.3705 million shares, which represents 0.62% of the circulating shares [2] - The Southern CSI Real Estate ETF Initiated Link A (004642) was established on August 24, 2017, with a latest scale of 202 million CNY. Year-to-date, it has achieved a return of 9.21%, ranking 3673 out of 4216 in its category; over the past year, it has returned 0.45%, ranking 3722 out of 3877; since inception, it has incurred a loss of 39.14% [2]

Core Viewpoint - Jingyuntong's stock price has shown a significant increase of 35.41% year-to-date, indicating strong market performance and investor interest [2] Group 1: Stock Performance - As of October 29, Jingyuntong's stock price rose by 2.23% to 4.13 CNY per share, with a trading volume of 1.54 billion CNY and a turnover rate of 1.57%, resulting in a total market capitalization of 9.972 billion CNY [1] - Year-to-date, Jingyuntong's stock has increased by 35.41%, with a slight rise of 0.49% over the last five trading days, 0.73% over the last 20 days, and 6.99% over the last 60 days [2] Group 2: Financial Performance - For the first half of 2025, Jingyuntong reported a revenue of 1.525 billion CNY, a year-on-year decrease of 47.25%, while the net profit attributable to shareholders was -212 million CNY, reflecting an 80.46% year-on-year increase [2] - Since its A-share listing, Jingyuntong has distributed a total of 810 million CNY in dividends, with 31.39 million CNY distributed over the past three years [3] Group 3: Shareholder Structure - As of June 30, 2025, Jingyuntong had 130,200 shareholders, an increase of 22.47% from the previous period, with an average of 18,543 circulating shares per shareholder, down 18.35% [2] - The top ten circulating shareholders include significant institutional investors, with Hong Kong Central Clearing Limited holding 19.2443 million shares, an increase of 9.5089 million shares from the previous period [3]

Core Viewpoint - JinkoSolar's stock price has shown fluctuations, with a year-to-date increase of 23.88% but a recent decline over the past five and twenty trading days [1] Group 1: Stock Performance - As of October 29, JinkoSolar's stock price rose by 2.06% to 3.46 CNY per share, with a trading volume of 140 million CNY and a turnover rate of 1.15%, resulting in a total market capitalization of 12.356 billion CNY [1] - Year-to-date, JinkoSolar's stock has increased by 23.88%, while it has decreased by 2.54% over the last five trading days and 5.72% over the last twenty trading days [1] - The company has appeared on the "龙虎榜" (a stock trading list) twice this year, with the most recent instance on September 12, where it recorded a net buy of -291 million CNY [1] Group 2: Business Overview - JinkoSolar, established on July 28, 2011, and listed on May 19, 2020, is primarily engaged in photovoltaic power station development, operation, and EPC services [2] - The revenue composition of JinkoSolar includes 75.57% from photovoltaic power generation, 18.34% from household photovoltaic station development, 2.51% from EPC services, and smaller percentages from other activities [2] - As of June 30, the number of shareholders was 119,100, a decrease of 3.87%, with an average of 29,980 circulating shares per shareholder, an increase of 4.02% [2] Group 3: Financial Performance - For the first half of 2025, JinkoSolar reported a revenue of 2.124 billion CNY, reflecting a year-on-year growth of 10.47%, and a net profit attributable to shareholders of 123 million CNY, up 39.76% year-on-year [2] - Since its A-share listing, JinkoSolar has distributed a total of 319 million CNY in dividends, with 161 million CNY distributed over the past three years [3] Group 4: Institutional Holdings - As of June 30, 2025, the seventh largest circulating shareholder is the Photovoltaic ETF (515790), holding 33.266 million shares, a decrease of 171,700 shares from the previous period [3] - Hong Kong Central Clearing Limited is the eighth largest circulating shareholder, holding 33.079 million shares as a new shareholder [3] - The Southern CSI 1000 ETF (512100) ranks as the ninth largest circulating shareholder, with 26.38 million shares, an increase of 4.9745 million shares from the previous period [3]

Core Insights - Jiangshan Holdings (00295) announced a financing lease agreement with Zhejiang Yin Leasing, where Zhejiang Yin Leasing will purchase leasing assets for a total consideration of RMB 52 million [1] - The leasing assets, which include photovoltaic power generation equipment and supporting facilities, will be leased back to Jiangshan's indirect wholly-owned subsidiary, Lingbi Yongji, for a term of 10 years [1] - Ownership of the leasing assets will remain with Zhejiang Yin Leasing during the lease term, and will transfer to Lingbi Yongji upon payment of all amounts due under the financing lease agreement and a symbolic payment of RMB 100 at the end of the lease term or upon early termination [1] Company Summary - Jiangshan Holdings is engaging in a financing lease to enhance its renewable energy capabilities through the acquisition of a 20 MW photovoltaic power plant located in Suzhou, Anhui Province, China [1] - The financing lease structure allows Jiangshan Holdings to utilize the assets while deferring ownership until the end of the lease term, which may provide financial flexibility [1]

Core Viewpoint - Jiangshan Holdings (00295) announced a financing lease agreement involving its indirect wholly-owned subsidiary, Lingbi Yongji, and Zhejiang Yin Leasing, with a total consideration of RMB 52 million for leasing assets related to a solar power plant [1] Group 1: Financing Lease Agreement - The financing lease agreement was signed on October 27, 2025, with Zhejiang Yin Leasing as the lessor and Lingbi Yongji as the lessee [1] - The total consideration for the leasing assets is RMB 52 million, which will be used to purchase leasing assets [1] - The lease term is set for 10 years, during which the ownership of the leasing assets will remain with Zhejiang Yin Leasing [1] Group 2: Asset Ownership and Terms - At the end of the lease term or upon early termination of the financing lease agreement, ownership of the leasing assets will transfer to Lingbi Yongji after payment of all amounts due under the agreement and a symbolic cost of RMB 100 [1] - The leasing assets include various photovoltaic power generation equipment and supporting facilities located at a 20 MW solar power plant in Suzhou City, Anhui Province, China [1]

Core Viewpoint - Zhaoxin Co., Ltd. (002256.SZ) reported significant growth in both revenue and net profit for Q3 2025, driven by increased sales in its refined business segment, photovoltaic power generation, and EPC services [1] Financial Performance - For the period of July to September 2025, the company achieved a revenue of RMB 114 million, representing a year-on-year increase of 43.44% [1] - The net profit attributable to shareholders was RMB 1.8353 million, showing a substantial year-on-year growth of 102.01% [1] - The net profit excluding non-recurring gains and losses was a loss of RMB 7.37 million [1] Revenue Drivers - The revenue growth was primarily attributed to increased export sales in the refined business segment, as well as growth in photovoltaic power generation and EPC business revenues [1] Cost Management - The significant increase in net profit was largely due to the substantial rise in gross profit driven by revenue growth, alongside a notable decrease in management expenses (excluding share-based payment expenses) and financial costs [1] - The previous year's results were negatively impacted by substantial losses from the disposal of small and medium-sized equity, classified as non-recurring gains and losses [1]

Group 1 - The company Meili Cloud (SZ 000815) announced the resignation of Ms. Zhang Lei from her positions as General Counsel and Chief Compliance Officer due to work reasons, and she will not hold any position in the company after her resignation [1] - For the first half of 2025, Meili Cloud's revenue composition is as follows: Internet Data Center (IDC) business accounts for 92.68%, photovoltaic power generation accounts for 5.92%, paper industry accounts for 1.23%, and other businesses account for 0.17% [1] - The current market capitalization of Meili Cloud is 8.5 billion yuan [2]

Group 1 - The company Meili Cloud (SZ 000815) held its 30th meeting of the 9th board of directors on October 24, 2025, to review the proposal for the Q3 2025 report [1] - For the first half of 2025, Meili Cloud's revenue composition was as follows: Internet Data Center (IDC) business accounted for 92.68%, photovoltaic power generation 5.92%, paper industry 1.23%, and other businesses 0.17% [1] - As of the report date, Meili Cloud's market capitalization was 8.5 billion yuan [1]

Core Viewpoint - The company, Chendian International (600969), announced a joint venture with Kafue Gorge Investment Ltd to establish a company focused on solar energy investment in Zambia, indicating a strategic move towards renewable energy projects [1] Group 1: Joint Venture Details - Chendian International's subsidiary, Hunan Chendian International Hydropower Investment Co., Ltd. (referred to as "Chendian Water Investment"), will hold 87% of the joint venture [1] - The registered capital for the joint venture is set at 43.4253 million RMB (approximately 6.0905 million USD) [1] Group 2: Project Investment - The joint venture plans to invest approximately 43.4253 million RMB (around 6.0905 million USD) in the construction and management of the Namalundu Solar Park 10MW photovoltaic power generation project located in the Chikankata area of Southern Province, Zambia [1]