Group 1 - The company CHEVALIER INT'L (00025) has entered into an asset purchase agreement to sell certain properties and business assets to a buyer, with the transaction expected to be completed by September 16, 2025 [1] - The assets being sold include unsold new cars, several unsold used cars, display vehicles, parts, tires, gasoline, semi-finished products, prepaid expenses, commercial receivables, undelivered sold vehicles, furniture, fixtures, equipment, machinery, and goodwill [1] - The board believes that this sale represents an excellent opportunity to realize the investment value in the business, especially given the significant challenges faced by the Canadian automotive industry, such as rising interest rates and increased new car costs, which have dampened consumer purchasing intent [1] Group 2 - The asset purchase agreement and sale are conducted on standard commercial terms and will not have a significant adverse impact on the company's operations and financial condition [2] - The board considers the terms of the sale, including the price, to be fair and reasonable, aligning with the overall interests of the company and its shareholders [2]

CHEVALIER INT'L(00025)发布公告，于2025年9月16日，卖方(全部均为本公司间接全资拥有的附属公 司)与买方订立资产购买协议，卖方有条件同意以代价出售该等物业及该等业务资产。 买方将从卖方收购与该业务相关的非物业资产包括但不限于：(a)所有未售出的新车;(b)若干未售出的二 手车;(c)若干展示品╱服务代用车;(d)零件、轮胎、汽油及配件;(e)半成品;(f)预付费用;(g)商业应收款;(h) 未交付的已售出车辆;(i)家具、固定装置、设备及机械;及(j)商誉(统称"业务资产")。该等物业为在资产购 买协议日之前，业务卖方经营业务的该等物业。 董事会认为，此次出售事项是本集团变现其在该业务投资价值的绝佳时机。近年，加拿大汽车产业面临 重大挑战，包括利率上升和新车成本上涨，抑制了消费者购买新车的意欲。透过撤出该业务，本集团可 以精简营运，降低市场波动带来的风险，并将资源重新分配至核心业务，从而实现更高的增长潜力，并 与本集团的战略重点产生协同效应。 董事确认，资产购买协议及出售事项乃按一般商业条款进行，且不会对本集团营运及财务状况造成重大 不利影响。董事认为，出售事项的条款(包括代价)属公 ...

公司点评 | 斯瑞新材 产品结构不断优化，25H1 业绩显著增长 斯瑞新材（688102.SH）25H1 业绩点评 事件：公司发布 25 年半年报，营业收入与归母净利润同比大幅增长。25 年 上半年实现营业收入 7.72 亿元，同比增长 23.74%，实现归母净利润 7473.83 万元，同比增长 33.61%。其中，25Q2 单季度实现营业收入 4.28 亿元，同 比增长 27.1%，环比增长 24.42%；25Q2 单季度实现归母净利润 0.42 亿元， 同比增长 35.18%，环比增长 31.18%。25H1 公司各板块业务增长，产品销 售结构不断优化，新的产业方向稳步增长，开始贡献收益，叠加欧元汇率上 升引起汇兑收益大幅增加。 25H1 液体火箭发动机推力室材料、零件、组件产业化项目进展顺利，在关 键领域取得重大突破。截至 25H1，公司在本项目已累计投资 4,723.27 万元， 并于报告期内在关键技术领域取得重大突破——成功研发铜铬铌大推力液 体火箭发动机推力室内壁热等静压近净成型技术，并向客户交付样件，该技 术创新将显著提升材料的强度和耐高温性能，并以一次成型的方式极大程度 提高材料利用率、降低 ...

Core Viewpoint - Srey New Materials (688102.SH) announced that it received approval from the Shanghai Stock Exchange for its application to issue shares to specific investors, pending final approval from the China Securities Regulatory Commission (CSRC) [1] Fundraising Details - The total amount to be raised from the issuance of A-shares is not to exceed 60 million yuan, which will be allocated to projects including liquid rocket engine thrust chamber materials, the construction of Srey New Materials Technology Industrial Park, and to supplement working capital [1][5] - The breakdown of the investment includes 23 million yuan for the first phase of the liquid rocket engine thrust chamber materials project, 40 million yuan for the construction of the technology industrial park, and 6 million yuan for working capital [2] Issuance Structure - The issuance will target no more than 35 specific investors, including various financial institutions and qualified investors [2] - The shares will be ordinary A-shares with a par value of 1 yuan each, and the issuance will be conducted through a pricing inquiry method [3] - The number of shares issued will not exceed 30% of the total share capital prior to the issuance, amounting to a maximum of 218,201,367 shares [3][5] Shareholder Structure - Following the issuance, the company's total share capital will increase, leading to changes in the shareholder structure, but the actual control of the company will remain unchanged with Wang Wenbin as the controlling shareholder [4][5] - As of the date of the fundraising prospectus, Wang Wenbin holds 40.38% of the company's total shares [4]

Core Viewpoint - Shaanxi Sray New Materials Co., Ltd. is undergoing a stock issuance to specific targets, with a total fundraising amount not exceeding 600 million yuan, aimed at financing various projects including the construction of a technology industrial park and the development of materials for liquid rocket engines [1][2]. Group 1: Fundraising and Project Details - The total amount to be raised is capped at 600 million yuan, with net proceeds allocated to projects such as the construction of a technology industrial park and the development of medical imaging equipment [2][3]. - The fundraising will cover both capital and non-capital expenditures, with 27.23% of the total funds earmarked for non-capital expenses, including working capital and contingency funds [3][4]. - The liquid rocket engine thrust chamber materials project is set to receive an investment of 510 million yuan, while the technology industrial park project will receive 820 million yuan [1][2]. Group 2: Project Investment Breakdown - The investment for the liquid rocket engine thrust chamber materials project is 230 million yuan, with 200 million yuan sourced from the fundraising [3][4]. - The project will involve the acquisition of 102 pieces of equipment, including precision machining and welding equipment, with a total estimated cost of approximately 199.27 million yuan [3][5]. - The construction of the factory will include modifications such as wall partitions and insulation, with total construction costs estimated at 4.45 million yuan [4][6]. Group 3: Cost Estimation and Fairness - The cost estimates for equipment purchases and construction are based on multiple supplier quotes and historical procurement prices, ensuring fairness in the financial assessments [5][6]. - Specific equipment costs include a high-precision CNC lathe priced at 240,000 yuan and an automatic processing line at 1.2 million yuan, reflecting the current market conditions and historical pricing trends [5][6]. - The company emphasizes that the equipment specifications for the new projects exceed those of existing equipment, justifying the higher costs associated with the new investments [8].