Core Viewpoint - Jianlong Micro-Nano Materials Co., Ltd. announced the acquisition of a 40% stake in Shanghai Hanxing Energy Technology Co., Ltd. for 200 million yuan, enhancing its capabilities in the industrial sector [1][2]. Group 1: Acquisition Details - The acquisition will result in Shanghai Jianlong holding a 40% stake in Hanxing Energy, making it a subsidiary of Jianlong Micro-Nano [1][2]. - The transaction is valued at 200 million yuan, indicating a strategic investment to strengthen Jianlong's market position [1]. Group 2: Hanxing Energy's Capabilities - Hanxing Energy is one of the few companies in China with comprehensive capabilities from process design to equipment supply and overall delivery in the petrochemical and industrial gas sectors [2]. - The company has developed core technologies in areas such as process optimization, equipment integration, and catalyst upgrades, which are widely applied across various industries including petrochemicals, renewable resources, and hydrogen [2]. Group 3: Strategic Implications for Jianlong - The acquisition is expected to enhance Jianlong's full-chain solution capabilities by integrating materials, processes, and equipment, thereby extending its industrial chain downstream [2]. - This move aims to broaden Jianlong's business boundaries and cultivate new growth points in the market [2].

Core Viewpoint - Jianlong Micro-Nano (688357.SH) has announced the termination of its major asset restructuring plan to acquire at least 51% of Shanghai Hanxing Energy Technology Co., Ltd. [4] Group 1: Termination of Restructuring - Jianlong Micro-Nano decided to terminate the cash acquisition of Hanxing Energy after thorough discussions, concluding that the conditions for the restructuring were not mature [4] - The termination was agreed upon by all parties involved, and no formal transaction agreement was signed, thus no party bears liability for breach of contract [6] Group 2: Background of Hanxing Energy - Hanxing Energy is a downstream enterprise of Jianlong Micro-Nano, specializing in hydrogen energy technologies, including hydrogen production, transportation, storage, and refueling stations [4] - The company has a diverse client base, including major firms like China National Petroleum, Sinopec, and Baofeng Energy [4] Group 3: Financial Performance of Hanxing Energy - Hanxing Energy reported revenues of 296 million yuan, 389 million yuan, and 488 million yuan for the years 2021, 2022, and 2023, respectively [5] - The net profits for the same years were 53.09 million yuan, 67.65 million yuan, and 76.74 million yuan, with non-recurring net profits of 49.21 million yuan, 65.45 million yuan, and 71.66 million yuan [5] Group 4: Jianlong Micro-Nano's Business Overview - Jianlong Micro-Nano is a leading enterprise in the molecular sieve materials sector, focusing on industrial gas separation, medical oxygen, and energy chemical applications [5] - In Q3 2025, Jianlong Micro-Nano achieved revenues of 212 million yuan, a year-on-year increase of 12.34%, and a net profit of 24.05 million yuan, up 70.22% year-on-year [6] Group 5: Strategic Cooperation - Despite the termination of the acquisition, Jianlong Micro-Nano and Hanxing Energy have established a comprehensive strategic partnership to leverage their resources and expertise [6] - The partnership will focus on collaborative market development, complementary new products or technologies, and joint development of new products or technologies in various fields, including petroleum refining and renewable energy [6]