Core Viewpoint - The company, Changbao Co., Ltd. (002478.SZ), emphasizes its main product, oil and gas casing pipes, which have maintained good brand recognition and customer acceptance in overseas markets over the years [1] Market Presence - The North American market is currently not a business area for the company’s oil and gas casing pipes due to the impact of trade policies [1] - The company has a relatively small business presence in the Latin American market [1] - The primary markets for the company’s oil and gas casing pipes are currently in the Middle East, Southeast Asia, Africa, and Central Asia [1] Strategic Adjustments - The company plans to adjust its offshore market structure and product offerings in response to changes in the oil and gas industry [1] - There will be an increased focus on expanding into new markets and obtaining certifications for new products to enhance competitiveness in overseas markets [1]

Core Viewpoint - Haimer Technology (300084) plans to transfer a 20% stake in Haimer Underwater Production Technology (Shenzhen) Co., Ltd. to related party Shanghai Deep Blue Collaborative Enterprise Management Partnership (Limited Partnership) and license underwater oil and gas extraction product-related intangible assets to another related party, Haimer Xincheng Underwater Technology (Shanghai) Co., Ltd. [1][2] Group 1: Equity Transfer - Haimer Technology intends to transfer its 20% stake in Haimer Underwater for a price of 25 million yuan, which corresponds to a subscribed capital contribution of 2.106 million yuan [1] - After the transfer, Haimer Technology's ownership in Haimer Underwater will decrease to 32.2317%, resulting in the loss of control over the company, which will no longer be included in the consolidated financial statements [1] - The valuation report indicates that as of July 31, 2025, the total equity of Haimer Underwater is valued at 78.2604 million yuan, representing an increase of 25618.17% compared to the book net assets [1] Group 2: Asset Transfer and Licensing - Haimer Technology plans to transfer 32 underwater oil and gas extraction product-related patents (28 for transfer and 4 for exclusive long-term licensing) for a total price of 75 million yuan [2] - These patents were independently developed by the company and were applied for between 2017 and 2022, with no rights burdens or disputes [2] - The assessed value of this batch of patents is 67.2747 million yuan, with a value increase rate of 6.52% [2] Group 3: Transaction Agreements and Future Operations - The transaction agreements specify payment terms, debt repayment, and delivery arrangements, with Shanghai Deep Blue required to pay the equity transfer amount of 25 million yuan within three working days after the agreement takes effect [3] - Haimer Underwater and Haimer Xincheng are obligated to repay debts of 989,000 yuan and 13.3699 million yuan to Haimer Technology within the agreed timeframe [3] - After the transaction, Dou Jianwen will become the actual controller of both Haimer Underwater and Haimer Xincheng, while Haimer Technology retains a 32.2317% stake and can still benefit from future business developments [3]