Finance Associated Press

AVIC Industry & Finance: The controlling shareholder plans for major events related to the company, and the stock will be suspended from tomorrow

Today's Spotlight

[SMIC: Net profit in 2024 will decrease by 23.3% year-on-year, and no profit distribution will be made].

SMIC (688981.SH) announced that its operating income in 2024 will be 57.796 billion yuan, a year-on-year increase of 27.7%, and the net profit attributable to shareholders of listed companies will be 3.699 billion yuan, a year-on-year decrease of 23.3%. The company intends not to distribute profits, and the proposal still needs to be submitted to the annual general meeting for deliberation. During the reporting period, the company's main business was integrated circuit wafer foundry, with leading process manufacturing capabilities and production capacity advantages. At the same time, the risks faced by the company include market risks, technical risks, operational risks, etc.

[AVIC Industry & Finance: The controlling shareholder plans to suspend the stock trading from tomorrow on major matters related to the company].

AVIC Industry and Finance (600705.SH) announced that the company recently received a letter from its controlling shareholder, AVIC, which intends to plan major matters related to the company. In order to ensure fair information disclosure, safeguard the interests of investors, and avoid abnormal fluctuations in the company's stock price, the company's shares will be suspended from the opening of the market on March 28, 2025, and the suspension time is expected to be no more than 5 trading days. During the suspension period, the company will fulfill its information disclosure obligations according to the progress of the matter. After the matter is determined, the company will issue an announcement in a timely manner and apply for the resumption of stock trading.

[Three Squirrels: Plan to issue H shares and apply for listing on the Main Board of the Hong Kong Stock Exchange].

Three Squirrels (300783.SZ) announced that the company plans to issue H shares and apply for listing on the main board of the Hong Kong Stock Exchange, in order to further implement the overall strategy of "high-end cost performance", enhance global brand awareness, build a global supply chain system, and expand overseas financing capabilities. The company will fully consider the interests of existing shareholders and the situation of domestic and foreign capital markets, and choose an appropriate time and issuance window to complete the issuance and listing within the validity period of the resolution of the general meeting of shareholders. At present, the company is actively discussing with relevant intermediaries, and the specific details have not yet been determined.

[Primarius Electronics: Plans to purchase a controlling stake in Ruichengxin Micro and suspend trading].

Primarius Electronics (688206.SH) announced that the company is planning to purchase a controlling stake in Chengdu Ruichengxin Micro Technology Co., Ltd. by issuing shares and paying cash, and at the same time intends to raise matching funds. According to preliminary calculations, this transaction is expected to constitute a major asset restructuring and will not lead to a change in the actual controller of the company. Trading in the company's shares will be suspended from the market open on March 28, 2025, and the suspension is expected to last no more than 5 trading days. The business scope of Ruichengxin Micro includes R&D and sales of electronic components, computer software and hardware, and electronic equipment; IC development and technical consultation; computer system integration, etc.

[Uni-President shares: Keqiao Lingtu plans to increase the capital of its wholly-owned subsidiary, Uni-President Petrochemical by 400 million yuan, constituting a major asset restructuring].

600506.SH According to the results of the listing of the Beijing Equity Exchange and the "capital increase agreement" signed by all parties with effective conditions, Keqiao Lingtu intends to increase the capital of 400 million yuan in monetary terms to Uni-President Petrochemical, and after the completion of the capital increase, Keqiao Lingtu holds 21.91% of the equity of Uni-President Petrochemical. The raised funds are intended to be used for new energy liquid-cooled oil and special lubricating oil production and research and development projects, replenishment of working capital and other purposes. This transaction constitutes a major asset restructuring of the listed company.

[Xinyuan Technology: Filed a case by the China Securities Regulatory Commission on suspicion of illegal information disclosure].

Xinyuan Technology (300472.SZ) announced that the company received the "Notice of Case Filing" issued by the China Securities Regulatory Commission on March 27, 2025, and the CSRC decided to file a case against the company due to suspected violations of information disclosure laws and regulations. During the investigation, the company will actively cooperate with the work of the CSRC and fulfill its information disclosure obligations in strict accordance with the regulations and regulatory requirements. The company's production and operation are normal, and the above matters will not affect the company's normal production and operation activities.

[*ST Rendong: Apply for the withdrawal of delisting risk warning].

*ST Rendong announced that the implementation of the company's reorganization plan has been completed, and the company's administrator has issued the "Supervision Report on the Implementation of the Reorganization Plan of Rendong Holding Co., Ltd.", and Shanghai AllBright (Tianjin) Law Firm has issued the "Legal Opinion on the Completion of the Implementation of the Reorganization Plan of Rendong Holding Co., Ltd." The company has applied to the Shenzhen Stock Exchange to revoke the delisting risk alert touched by the court's ruling to accept the reorganization, and the Shenzhen Stock Exchange will make a decision on whether to agree to the company's stock trading within 15 trading days after receiving the company's application.

[China Securities Construction Investment: Net profit in 2024 will increase by 2.68% year-on-year, and 10 distributions of 1.65 yuan are planned].

China Securities Construction Investment (601066.SH) released its 2024 annual report, with operating income of 21.129 billion yuan in 2024, a year-on-year decrease of 9.1%; the net profit attributable to the parent company was 7.223 billion yuan, a year-on-year increase of 2.68%; The basic earnings per share is 0.79 yuan, and it is planned to distribute a cash dividend of 1.65 yuan (tax included) to all shareholders for every 10 shares. During the reporting period, the company's investment banking business segment achieved a total operating income of 2.491 billion yuan, a year-on-year decrease of 48.14%; The wealth management business segment achieved a total operating income of 6.61 billion yuan, a year-on-year increase of 8.97%; The trading and institutional customer service business segment achieved a total operating income of 8.053 billion yuan, a year-on-year increase of 0.46%.

[Yida in 14 days and 8 boards: the stock price is seriously detached from the fundamentals, and there is a risk of a short-term stock price correction].

Zhongyida (600610.SH) announced that the company's A-share shares have risen by 189.33% since March 10, 2025, but there has been no major change in the company's fundamentals, and there is no material information that should be disclosed but has not been disclosed. The company will be in a loss state in 2024, and the net profit attributable to the owners of the parent company will be -14.0839 million yuan. As of March 27, 2025, the company's price-to-book ratio is 192.83, which is much higher than the industry average. The company's stock price is seriously detached from the company's fundamentals, and there is a risk of overheated market sentiment and high speculation, and there is a risk of a short-term stock price correction. In addition, the carrying amount of the company's goodwill is higher than the net asset value, and there is a risk that the impairment of goodwill will continue to be provided.

[Hanbang Hi-Tech: It is planned to purchase 51% of the shares of Yilu Micro Bank and the stock will resume trading on the 28th].

Hanbang Hi-Tech (300449.SZ) announced that the company intends to issue shares to Shenzhen Gaodeng to purchase its 51% stake in Yilu Microbank. At the same time, the company intends to issue shares to Zhiyun Technology, a wholly-owned holding company of Li Ning, the actual controller, to raise matching funds. Yilu Weixing is mainly engaged in the field of smart transportation, focusing on ETC issuance services and ETC value-added business, and its business and products can be applied to the construction of smart cities, providing support for the company's security business integration in new areas and subsequent business expansion. The company's shares will resume trading from the market open on March 28, 2025.

Private placement & financing & repurchase

[Haier Smart Home: plans to repurchase the company's shares with 1 billion yuan to 2 billion yuan].

Haier Smart Home (600690.SH) announced that the company plans to repurchase some A-share public shares, with a repurchase amount of no more than 2 billion yuan and no less than 1 billion yuan, and a repurchase price of no more than 40 yuan per share. It is expected that the number of shares to be repurchased will not exceed 50 million shares, which shall be subject to the actual number of shares repurchased at the expiration of the repurchase period. The repurchase period shall be within 12 months from the date of approval of the share repurchase plan by the board of directors. The source of repurchase funds is the company's own funds and/or self-raised funds (including special loan funds for share repurchase, etc.).

Underweight & Overweight

[Bakken Energy: Controlling shareholder Chen Pinggui plans to reduce 3% of the company's total share capital].

Bakken Energy (002828.SZ) announced that Chen Pinggui, the controlling shareholder and actual controller of the company, plans to reduce the company's shares by centralized bidding transactions and block transactions within 3 months after 15 trading days from the date of disclosure of the announcement, with a total of no more than 6,029,600 shares (accounting for 3% of the company's total share capital). The reason for the reduction is the personal capital needs of shareholders.

Transfers & Acquisitions & Investments

[J&R Technology: It plans to obtain 51% equity of Xuyida Motor to further assist it in rapidly expanding the humanoid robot industry chain].

Qiangrui Technology (301128.SZ) announced that the company plans to use its own funds of 150 million yuan to invest in Shenzhen Xuyida Brushless Motor Co., Ltd., and finally obtain 51.00% equity of Xuyida Motor. After this foreign investment, the company can further assist Xuyida to rapidly expand the humanoid robot industry chain. The company's early proofing robot dexterous hand precision parts products have been verified by customers, and the proofing customers are important customers of Xuyida, and listed companies can use Xuyida motor to carry out more in-depth business development attempts.

[Rizhao Port: It is planned to invest about 6.8 billion yuan to build the transformation and upgrading project of Rizhao Port (block 1)].

Rizhao Port (600017.SH) announced that it plans to invest about 6.8 billion yuan in the construction of the Rizhao Port Transformation and Upgrading Project (Block 1) with its wholly-owned subsidiary, Rizhao Port Container Development Co., Ltd., as the main body of the project. The project plans to build two 100,000-ton berths, two 200,000-ton berths, one 300,000-ton specialized bulk berth and one 200,000-ton dry bulk berth, and rebuild two general berths into specialized bulk berths, with a designed throughput capacity of 141 million tons. At the same time, supporting the construction of railways, highways and other corresponding infrastructure in the port area. The financial internal rate of return (after tax) of the capital of the project is 3.27%, and the payback period of the project capital (including the construction period) is 28.8 years.

[Nanjing Panda: Ericsson intends to buy 49% of the shares of ENC held by the company and other Chinese shareholders of ENC].

Nanjing Panda (600775.SH) announced that the company and other Chinese shareholders of ENC recently received written information from Ericsson that Ericsson intends to purchase 49% of the equity of ENC held by the company and other Chinese shareholders of ENC for a specific cash purchase consideration. The transaction is subject to the necessary approvals and the outcome of the parties' discussions on the detailed terms of the transaction. The Company expects to recover an amount of not less than approximately RMB250 million.

[Canny Elevator: Plans to sell 100% equity of Guangdong Canny].

Canny Elevator (002367.SZ) announced that the company intends to sell 100% of the equity of its wholly-owned subsidiary, Guangdong Canny, to Zhongshan Xiwan Construction Investment Co., Ltd. for a transaction consideration of 343 million yuan. After the completion of the transaction, Guangdong Kangli will no longer be included in the company's consolidated financial statements. This transaction does not constitute a connected transaction, nor does it constitute a material asset restructuring. In addition, the company also plans to gradually transfer the original production resources of Guangdong Canny to other production bases, and has continued to lease out some idle factories, office space and living areas.

[Xinyuan Micro: Shareholder Zhongke Tiansheng intends to publicly solicit and transfer the company's shares, and the intended transferee is North Huachuang].

Xinyuan Micro (688037.SH) announced that Zhongke Tiansheng, a shareholder of more than 5% of the company's shares, has completed the evaluation of the intended transferee, and NAURA meets the qualifications of the transferee. Zhongke Tiansheng will negotiate and communicate with NAURA on the Share Transfer Agreement and related matters, and perform the necessary decision-making and approval procedures. Before the completion of the procedure, there is uncertainty as to whether Zhongke Tiansheng can sign the Share Transfer Agreement with NAURA Huachuang; If the agreement is signed, it will still need to be approved by the competent authority before it can take effect, and there is uncertainty as to whether the share transfer can be finalized. If the transfer is approved and implemented, it may result in a change in the company's largest shareholder.

Winning & Approved

[China General Number: From January to February, it won the bid for eight rail transit projects with a total amount of 3.418 billion yuan].

China General Number (688009.SH) announced that from January to February 2025, the company won bids for a total of eight important projects in the rail transit market, including four in the railway market and four in the urban rail transit market. The total amount of winning bids is about 3.418 billion yuan, accounting for 9.24% of the company's audited operating income in 2023. Due to the phased implementation of the project across years, there is uncertainty about the impact on the current performance in 2025.

[Hengrui Pharmaceutical: Subsidiary received the notice of approval for clinical trial of HRS-5817 injection drug].

Hengrui Pharmaceutical (600276.SH) announced that its subsidiary, Fujian Shengdi Pharmaceutical Co., Ltd., received the "Drug Clinical Trial Approval Notice" for HRS-5817 injection approved and issued by the State Food and Drug Administration, and agreed to carry out clinical research on this product in the indication of overweight or obesity. HRS-5817 injection is a self-developed Class 1 chemical drug, with a cumulative R&D investment of about 24.89 million yuan so far.

Business & Performance

[Industrial Bank: net profit in 2024 will be 77.205 billion yuan, a year-on-year increase of 0.12%].

Industrial Bank (601166.SH) released its 2024 annual report, achieving operating income of 212.226 billion yuan in 2024, a year-on-year increase of 0.66%; net profit attributable to shareholders of the parent company was 77.205 billion yuan, a year-on-year increase of 0.12%; The basic earnings per share is 3.51 yuan, and the cash dividend is 10.6 yuan (tax included) for every 10 ordinary shares. At the end of 2024, the Group's non-performing loan ratio was 1.07%, down 0.03 percentage points from 2021, and the asset quality remained stable overall. In 2024, the impairment loss will be 60.189 billion yuan, a decrease of 10.18% compared with 2021, and the provision coverage ratio will be 237.78%, maintaining a good level.

[Shandong Gold: net profit of 2.952 billion yuan in 2024, a year-on-year increase of 26.8%].

Shandong Gold (600547.SH) announced that it will achieve operating income of 82.518 billion yuan in 2024, a year-on-year increase of 39.21%; net profit attributable to shareholders of listed companies was 2.952 billion yuan, a year-on-year increase of 26.80%. In 2024, it is proposed to distribute a cash dividend of RMB 2.28 (including tax, including cash dividends distributed for half a year) for every 10 shares.

[Gigabit: net profit in 2024 will decrease by 16% year-on-year, and it is planned to distribute 10 distributions of 35 yuan].

Gigabit (603444.SH) released its 2024 annual report, achieving operating income of 3.696 billion yuan in 2024, a year-on-year decrease of 11.69%; net profit attributable to shareholders of listed companies was 945 million yuan, down 16.02% year-on-year; The basic earnings per share is 13.15 yuan, and it is planned to distribute a cash dividend of 35 yuan (tax included) to all shareholders for every 10 shares. The company's operating income mainly comes from the self-developed products "Ask" terminal game, "Askdao mobile game" and "Yi Nian Xiaoyao (mainland version)", among which, the operating income and profit of "Ask" terminal game this year were basically the same as the same period last year; The operating income, distribution investment and profit of "Yi Nian Yao (Mainland Version)" and "Obi Island: Dream Country" all decreased significantly year-on-year this year.

[Ningbo Construction Engineering Performance Express: Net profit of 308 million yuan in 2024, down 6.45% year-on-year].

Ningbo Construction Engineering (601789.SH) released its 2024 annual performance report, and the company will achieve operating income of 21.06 billion yuan in 2024, a decrease of 7.11% over the same period of the previous year; the net profit attributable to shareholders of the listed company was 308 million yuan, down 6.45% from the same period last year; Basic earnings per share was 0.2672 yuan. During the reporting period, under the condition of the continuous downturn of the real estate market and the decrease in construction projects, the company actively explored the market, strengthened internal control management, and further promoted the work of reducing costs and increasing efficiency, and the company's operation was generally stable.

[Nuotai Bio: Net profit is expected to increase by 96% to 156% year-on-year in the first quarter of 2025].

Nuotai Biotech (688076.SH) announced that it is expected to achieve a net profit attributable to the owners of the parent company of 130 million yuan to 170 million yuan in the first quarter of 2025, an increase of 63.6732 million yuan to 103.6732 million yuan compared with the same period last year, an increase of 96% to 156% year-on-year. The increase in performance was mainly due to the large increase in the sales revenue of the company's peptide APIs.

[Shengyi Electronics: Net profit of 332 million yuan in 2024 to turn losses into profits].

Shengyi Electronics (688183.SH) announced that the company released its 2024 annual report, and in 2024, it will achieve operating income of 4.687 billion yuan, a year-on-year increase of 43.19%; The net profit attributable to shareholders of the listed company was 332 million yuan, turning losses into profits. It is proposed to distribute a cash dividend of 2.50 yuan (tax included) to all shareholders for every 10 shares.

[Follett: net profit in 2024 will be 1.007 billion yuan, a year-on-year decrease of 63.52%].

Follett (601865.SH) announced that the company's operating income in 2024 will be 18.683 billion yuan, a year-on-year decrease of 13.2%; The net profit attributable to the owners of the parent company was 1.007 billion yuan, a year-on-year decrease of 63.52%. The company does not plan to distribute profits in 2024, nor does it convert capital reserve into share capital.

Miscellaneous

[Tianxin Pharmaceutical: The actual controller and chairman of the company have been released from lien].

Tianxin Pharmaceutical (603235.SH) announced that the company received the "Notice of Lifting Lien" issued by the Dongning Municipal Supervision Commission on March 27, 2025, and decided to lift the lien measures against Xu Jiangnan, the actual controller and chairman of the company. At present, Xu Jiangnan has been able to perform the duties of the chairman of the company normally, and the company's production and operation are normal.

[Chongqing Iron and Steel: plans to participate in the auction of assets such as 4100mm wide and heavy plate production lines].

Chongqing Iron and Steel (601005.SH) announced that recently, Heavy Steel Group publicly listed and transferred its 4100mm wide and heavy plate production line and other assets on the Chongqing United Equity Exchange, with a listing price of 1.081 billion yuan. In order to ensure the continuous and stable production and operation and support the high-quality development of products, the company plans to participate in the bidding for this project. Collection

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