Core Viewpoint - The company,辉煌明天(01351), has appointed Lingzhi Enterprise Financing Limited as an independent financial advisor to provide opinions to the independent board committee regarding the fairness and reasonableness of an offer, and whether to accept it [1] Group 1 - The appointment of Lingzhi Enterprise Financing Limited is in accordance with the Securities and Futures Ordinance, allowing it to conduct regulated activities related to institutional financing advice [1] - The independent financial advisor will assess the offer's fairness and reasonableness, which is crucial for the independent board committee's decision-making process [1]

Core Viewpoint - Huahong Semiconductor (01347) has appointed Chuangsheng Financing Limited as an independent financial advisor in Hong Kong to provide opinions on the fairness and reasonableness of the proposed acquisition matters and related authorizations [1] Group 1 - The appointment of Chuangsheng Financing Limited is in accordance with the Securities and Futures Ordinance, which regulates activities related to securities trading and corporate finance advisory [1] - The independent board committee has approved the appointment of Chuangsheng Financing Limited as the independent financial advisor [1] - The advisor will provide recommendations for voting at the shareholders' special meeting regarding the proposed acquisition matters [1]

Group 1 - Dongfeng Group has appointed Haode Financing Limited as an independent financial advisor to provide advice on mergers and distributions to the independent board committee [1] - The appointment of Haode Financing as the independent financial advisor has been approved by the independent board committee in accordance with the takeover code rule 2.1 [1]

Group 1 - The core viewpoint of the article is that Dalian Wanda Commercial Properties (00207) has appointed New Baili Financing Limited as an independent financial advisor to assess the fairness and reasonableness of the proposed acquisition plan [1] - The appointment is in accordance with the Securities and Futures Ordinance, allowing the advisor to conduct regulated activities related to securities trading and providing advice on institutional financing [1] - The advisor's role includes providing opinions on whether the terms of the proposal are fair and reasonable, and whether to vote in favor of the plan at the court meeting for non-interested shareholders [1]

Group 1 - The core point of the article is that Kangji Medical (09997) has appointed New Baili Financing Limited as an independent financial advisor to provide opinions on the fairness and reasonableness of the terms of a proposed plan and special transactions, as well as voting matters [1] Group 2 - The appointment of the independent financial advisor has been approved by the independent board committee in accordance with Rule 2.1 of the Takeovers Code [1]

智通财经APP讯，正乾金融控股(01152)发布公告，RaffAello Capital Limited，一间根据证券及期货条例 可进行第6类(就机构融资提供意见)受规管活动的持牌法团，及红日资本有限公司，一间根据证券及期 货条例可进行第1类(证券交易)及第6类(就机构融资提供意见)受规管活动的持牌法团，已获委聘为联席 独立财务顾问，以就上述事宜向独立董事委员会及独立股东提供意见。该等委聘已获独立董事委员会根 据收购守则规则2.1批准。 ...

Group 1 - Raffles Interior (01376) announced the appointment of Shengshi Capital Limited as an independent financial advisor [1] - The independent financial advisor will provide advice to the independent board committee regarding the fairness and reasonableness of the offers [1] - The independent board committee has approved the appointment of Shengshi Capital in accordance with Rule 2.1 of the Takeovers Code [1]

东海证券还强调，上述事项未对公司的经营活动、财务状况产生重大不利影响，目前公司经营情况 正常，财务状况稳定，不存在因本次处罚而被终止挂牌的风险。 公开资料显示，东海证券于1993年成立于常州，原名"常州证券"，2005年成为全国首批10家创新试 点券商之一，2015年在全国中小企业股份转让系统挂牌。 业绩方面，东海证券2025年半年报显示，今年上半年，公司实现营业收入8.15亿元，同比增长 38.07%；实现归属于挂牌公司股东的净利润1.06亿元，同比增长231.01%。 8月4日晚间，东海证券发布公告称，公司因在重大资产重组项目中未勤勉尽责，于8月1日收到证监 会的行政处罚决定书，被罚没6000万元。 据公告，经中国证监会查明，东海证券在担任金洲慈航集团股份有限公司2015年重大资产重组独立 财务顾问的项目中，出具的相关文件存在重大遗漏、虚假记载，在独立财务顾问业务中未勤勉尽责，包 括：未为尚未完结的持续督导工作重新指定财务顾问主办人；未审慎核查其他中介机构出具的专项报 告；未保持职业怀疑，未对标的公司业绩承诺实现情况进行充分核查和验证。 中国证监会认为，东海证券上述行为违反了2005年修订的《中华人民共和 ...

Core Viewpoint - Donghai Securities has been penalized by the China Securities Regulatory Commission (CSRC) for significant omissions and false records in its role as an independent financial advisor during the major asset restructuring of Jinzhu Cihang Group in 2015, resulting in a total penalty of 6 million yuan [2][5][11]. Group 1: Penalty Details - The CSRC ordered Donghai Securities to correct its actions, confiscated 15 million yuan of business income, and imposed a fine of 45 million yuan [5][11]. - The violations included failing to reassign a financial advisor for ongoing supervision, not thoroughly verifying reports from other intermediaries, and lacking professional skepticism regarding the target company's performance commitments [5][11]. Group 2: Impact on Donghai Securities - Donghai Securities stated that the penalty would not have a significant adverse impact on its business operations or financial status, which remains stable [5][11]. - The company is currently undergoing IPO guidance, and the ongoing investigation related to Jinzhu Cihang may affect its IPO progress [11][14]. Group 3: Financial Performance - Donghai Securities reported a revenue of 8.15 billion yuan in the first half of 2025, a year-on-year increase of 38.07%, with a net profit of 1.06 billion yuan, up 231.01% [12]. - The brokerage business significantly contributed to the revenue increase, with net income from brokerage fees reaching 3.25 billion yuan, a growth of 48.50% [13]. However, investment banking revenue declined by 56.58% year-on-year [13].

Core Viewpoint - Donghai Securities has been penalized by the China Securities Regulatory Commission (CSRC) for past misconduct related to its role as an independent financial advisor for Jinzhou Cihang Group, resulting in a total penalty of 6 million yuan, including the confiscation of 1.5 million yuan in business income [2] Group 1: Administrative Penalty - On August 1, 2025, Donghai Securities received an administrative penalty decision from the CSRC, which included a fine of 4.5 million yuan and the confiscation of 1.5 million yuan in business income [2] - The penalty is related to a case from ten years ago, where the company failed to fulfill its duties as an independent financial advisor, including significant omissions and false records in relevant documents [2] - Donghai Securities has acknowledged the penalty and committed to improving its internal controls and compliance with regulations [2] Group 2: Financial Performance - For the first half of 2025, Donghai Securities reported operating revenue of 815 million yuan, a year-on-year increase of 38.07%, and a net profit attributable to shareholders of 106 million yuan, up 231.01% [3] - The net profit after deducting non-recurring losses was 157 million yuan, reflecting a significant year-on-year growth of 532.5% [3] - The brokerage business significantly contributed to the revenue growth, with net income from brokerage fees reaching 325 million yuan, a 48.50% increase [3] Group 3: Investment Banking Business - Despite overall revenue growth, Donghai Securities' investment banking business remains weak, with net income of 55 million yuan in the first half of 2025, a decline of 56.58% year-on-year [3] - The company experienced a net outflow of 69 investment banking personnel, reducing its workforce from 196 in 2022 to 127 by June 2025 [3] - Donghai Securities is currently undergoing IPO guidance, but progress has been slow due to ongoing issues related to the Jinzhou Cihang case [3][4] Group 4: Ongoing Issues and Future Outlook - The latest guidance report from CITIC Securities highlights that the Jinzhou Cihang case remains a significant issue for Donghai Securities [4] - Future guidance efforts will focus on corporate governance, operational compliance, internal controls, and financial accounting standards [4] - The impact of the recent penalty on the company's IPO process remains uncertain, as inquiries about the IPO progress have not received a response [5]