Core Insights - During the "14th Five-Year Plan" period, Liaocheng's foreign trade has demonstrated strong resilience, with significant growth in trade with emerging markets and "Belt and Road" partners [1][3]. Group 1: Trade Performance - In 2024, imports and exports with "Belt and Road" partners reached 21.94 billion yuan, a 146% increase compared to the end of the "13th Five-Year Plan" in 2020, with the share of total trade rising from 21.8% to 34.9% [3]. - Exports to ASEAN amounted to 11.72 billion yuan, while exports to Latin America reached 14.91 billion yuan, representing increases of 221% and 34.2% respectively compared to the end of the "13th Five-Year Plan" [3]. Group 2: Product Structure and Export Dynamics - In 2024, 20 national-level specialized and innovative enterprises achieved a total export value of 880 million yuan, with significant contributions from leading enterprises [4]. - Bus exports totaled 6,381 units, valued at 3.24 billion yuan, accounting for 92.2% of the province's total bus exports, maintaining a leading position within the province [4]. - Agricultural product exports reached 5.15 billion yuan in 2024, with poultry and pet feed exports increasing their share within the province [4]. Group 3: Development of Open Platforms - The logistics hub function has been enhanced with the establishment of the Linqing Bonded Logistics Center and the successful acquisition of the UN international port code for Luxi International Land Port, with cumulative container shipments exceeding 1 million TEUs [5]. - A green product international marketing network has been established, with 24 enterprises approved for used car export qualifications, covering 72 countries and regions [5]. - The number of various platforms has continued to expand, including national cultural export enterprises and provincial-level traditional Chinese medicine service export bases, laying a solid foundation for enhancing foreign trade [5].

Core Viewpoint - Lixing Co., Ltd. has decided to terminate the planned acquisition of Qingdao Feiyan Lingang Precision Steel Ball Manufacturing Co., Ltd. due to the inability to reach an agreement on relevant terms within the stipulated time frame, prioritizing the interests of the company and its shareholders [1][3]. Group 1: Acquisition Details - The acquisition was initially announced in late March, with Lixing intending to acquire a controlling stake in Feiyan Steel Ball for cash [1]. - Feiyan Steel Ball, established in 2004, specializes in the research and manufacturing of precision steel balls ranging from ∮0.5 to ∮12.7mm, with significant applications in automotive, aerospace, and precision machinery sectors [3]. - Feiyan Steel Ball holds over 90% market share in the commercial vehicle and heavy truck sectors in China, supplying international brands such as Jeep and Ford [3]. Group 2: Company Performance - Lixing Co., Ltd. operates in the general equipment manufacturing industry, focusing on the research, production, and sales of precision bearing rolling elements, including precision bearing steel balls and ceramic balls [3]. - The company has experienced a decline in net profit for three consecutive years, with revenues of 974 million, 981 million, 1.002 billion, and 1.045 billion yuan from 2021 to 2024, and net profits of 90 million, 62 million, 60 million, and 55 million yuan during the same period [5]. - In the first quarter of 2025, Lixing reported total revenue of 252 million yuan, a year-on-year increase of 4.66%, and a net profit of 17.13 million yuan, reflecting an 11.28% increase [5].