Group 1 - The China Securities Regulatory Commission has approved the initial public offering registration of Southern Power Grid Digital Grid Research Institute Co., Ltd., which plans to raise 2.55446 billion yuan [1] - The company aims to provide comprehensive digital construction solutions for clients in the power energy sector, focusing on building a world-class digital and intelligent innovation platform for power grids [4] - The company has established partnerships with numerous state-owned enterprises and industry leaders, including Southern Power Grid, Inner Mongolia Power Group, and China National Power Investment Group, leveraging its accumulated technology and experience in digital transformation [4] Group 2 - The company is expanding its products and services beyond the power energy sector into areas such as transportation, water supply and gas, public administration, and urban construction [4] - The company has a strong foundation in technology and products, which supports its professional digital and intelligent solutions and services [4]

Core Viewpoint - Southern Power Grid Digital Research Institute Co., Ltd. (referred to as "Southern Digital") is set to undergo an IPO on the ChiNext board on September 26, 2023, aiming to raise approximately 2.554 billion yuan for various digital infrastructure projects [1][1][1] Group 1: IPO Details - Southern Digital's IPO was accepted on June 27, 2025, and entered the inquiry phase on July 6, 2025 [1] - The company focuses on providing comprehensive digital construction solutions for clients in the power energy sector, with plans to expand its products and services into transportation, water supply and gas, public administration, urban construction, and other fields [1][1] Group 2: Fundraising and Investment Projects - The funds raised from the IPO will be allocated to several key projects, including: - Construction of a spatial-temporal intelligent digital twin platform - Development of a new generation intelligent IoT perception and collaborative control system - Establishment of an advanced power artificial intelligence platform and smart production marketing application - Creation of a new generation of domestic intelligent management systems for enterprises - Development of a data element circulation trading and service platform for the energy industry - Construction of an advanced digital energy technology R&D base and technology delivery center in Shenzhen [1][1][1]

Core Viewpoint - The stock of Quan Shi International (00381) has increased by over 10%, currently up 11.39% at HKD 0.44, with a trading volume of HKD 1.5068 million [1] Group 1: Company Announcement - Quan Shi International has signed a memorandum of understanding with Ms. Wang Fang (the seller) to negotiate a potential conditional acquisition of 51% equity in Hainan Miao Lian Technology Co., Ltd. (the target company) [1] - Hainan Miao Lian Technology Co., Ltd. was established in 2021 and specializes in providing digital solutions for enterprises [1] Group 2: Services Offered - The services offered by Hainan Miao Lian Technology encompass various aspects of enterprise digitalization, including digital strategy planning, business process optimization, data mining, machine learning, cloud computing, and big data [1]

Core Viewpoint - The company has entered into a memorandum of understanding with Ms. Wang Fang to potentially acquire a 51% stake in Hainan Miaolian Technology Co., Ltd, a digital solutions provider, which aligns with the company's investment strategy and is expected to enhance its revenue and customer base [1] Group 1: Acquisition Details - The memorandum was signed on September 12, 2025, and the acquisition is conditional upon the signing of a final agreement [1] - The target company is a wholly-owned subsidiary of the seller, registered in Hainan, China in 2021, specializing in enterprise digital transformation solutions [1] Group 2: Target Company's Services - The target company's mission is to assist traditional manufacturing and sales entities in their digital transformation, improving operational efficiency and innovation capabilities [1] - Services offered by the target company include digital strategy planning, business process optimization, data mining, machine learning, cloud computing, and big data [1] Group 3: Strategic Fit - The board believes that the potential acquisition aligns with the company's investment strategy and is expected to strengthen existing business operations [1] - The acquisition is anticipated to provide new revenue streams and enhance the company's overall interests and shareholder value [1]