[Inventory of important news].

At least hundreds of billions of yuan will be added every year! Wu Qing: Three key points to promote the entry of medium and long-term funds into the market

On January 23, the State Council Information Office held a press conference to introduce the situation of vigorously promoting medium and long-term capital entry into the market and promoting the high-quality development of the capital market.

Wu Qing, chairman of the China Securities Regulatory Commission, said at the press conference that medium and long-term funds are an important professional investment force in the capital market, and they are also the "ballast stone" and "stabilizer" for maintaining the stable and healthy operation of the market. After the deliberation and approval of the plenary meeting of the Central Financial Commission, the six ministries and commissions issued the "Implementation Plan for Promoting the Medium and Long-term Capital Entering the Market" (hereinafter referred to as the "Implementation Plan").

"The implementation plan issued this time is not only another important measure to thoroughly implement the decision-making and deployment of the Party Central Committee on promoting medium and long-term funds into the market, but also the refinement, deepening and specific implementation of the previous "Guiding Opinions on Promoting Medium and Long-term Funds into the Market". Wu Qing emphasized.

"Estimated at more than 600 billion"! The public offering takes the pulse of medium and long-term funds into the market

"Major positive" swipe! How big is the increment and impact? The detailed interpretation of the brokerage is here

Comments: Focusing more on the long-term, we have made some targeted institutional arrangements from the establishment of an assessment system, investment policy, and market ecological construction that are suitable for long-term investment, which can be said to be full of "dry goods".

The U.S. said it could start imposing a 10% tariff on China on Feb. 1, and the Commerce Department responded

According to @日月谭天 news, on the afternoon of January 23, the Ministry of Commerce held a regular press conference.

Reporter's question: The US side said that it may start imposing 10% tariffs on China on February 1, how does China view this?

He Yadong, spokesperson of the Ministry of Commerce: China's position on the tariff issue is consistent. Tariffs are not good for both China and the United States, nor for the whole world. China is ready to work with the US to promote the stable, healthy and sustainable development of China-US economic and trade relations in accordance with the principles of mutual respect, peaceful coexistence and win-win cooperation.

Push it up! The new policies for the property market in many places involve housing purchase subsidies and housing provident funds

Recently, many places have continued to introduce support policies for house purchases.

On January 22, Quanzhou, Fujian Province issued a new policy for housing provident fund, which proposed to increase the maximum loan amount for families with many children, simplify the procedures for withdrawing houses in different places in the province, and support intergenerational mutual assistance for house purchases in the province.

On January 21, Qinzhou, Guangxi Province issued a new policy to stabilize the property market, including the implementation of housing purchase subsidies, increasing support for the use of housing provident funds, optimizing the identification standards for the number of commercial personal housing loans, and optimizing the enrollment mode for house purchases.

Chen Wenjing, director of policy research at the China Index Research Institute, believes that optimizing the housing provident fund is one of the important policy directions to support residents to buy houses, which can reduce the cost of housing for residents and promote the release of demand. In the future, the provident fund policy may be more combined with supporting multi-child families and improving the demand for housing, and increase efforts.

Comments: The policy aims to promote the stable and healthy development of the real estate market by reducing the burden of buying houses and releasing the demand for improvement, while taking into account the needs of multi-child families and education, reflecting the flexibility and pertinence of the policy.

Talk about tariffs, oil price reduction, and resolving the Russia-Ukraine conflict...... Trump said these things at the World Economic Forum

On January 23, local time, U.S. President Trump said in a video speech at the World Economic Forum's 2025 annual meeting that if products are not manufactured in the United States, they will face tariffs of "hundreds of billions or even trillions of dollars".

Trump said he called on companies to produce products in the United States or face tariffs of varying amounts, which would result in hundreds of billions or even trillions of dollars going into the U.S. treasury. He also pledged to reduce the corporate tax on products made in the United States to 15 percent.

Trump also criticized the EU for having too high tariffs, too restrictive regulations and a trade deficit with the United States. He said he would do something about it because it was "very, very unfair to the United States."

Trump said he would ensure the security of U.S. energy supplies to Europe. He said he would reach an energy deal with Europe and stressed the importance of the United States sending LNG to the EU.

Comment: Regarding the Russia-Ukraine conflict, Trump said that the United States will work to ensure that the conflict is resolved peacefully. In addition, Trump said he hopes to meet with Russian President Vladimir Putin as soon as possible to discuss the resolution of the conflict in Ukraine.

Regarding ASML's exports to China, the Dutch Prime Minister expressed his position

Dutch Prime Minister Shoff said in an interview with Bloomberg a few days ago that the Dutch government wants to decide for itself what kind of policy to implement on the issue of Dutch lithography machine giant ASML exporting products to China.

In an interview on the sidelines of the World Economic Forum's 2025 Annual Meeting, Schoff said that the Biden administration in the United States has put considerable pressure on the Dutch government to restrict ASML from exporting advanced chip-making equipment to China, and the Trump administration is expected to continue this strategy. "I think it's very important that we decide for ourselves what kind of policies we implement."

Comments: Data from the third quarter of last year showed that ASML's sales in the Chinese market reached 2.79 billion euros, almost half of its total sales. The company expects sales in the Chinese market to account for about 20 percent of the company's total revenue this year.

Announcement of the Shanghai and Shenzhen North Stock Exchanges: The A-share market is closed for 8 days during the Spring Festival!

On January 23, the Shanghai Stock Exchange, Shenzhen Stock Exchange and Beijing Stock Exchange issued a notice on the 2025 Spring Festival closure arrangement, which will be closed from January 28 (Tuesday) to February 4 (Tuesday), and the market will open as usual from February 5 (Wednesday). In addition, the market will be closed on Sunday, January 26 and Saturday, February 8.

According to the above arrangement, the three major exchanges will be closed from January 28 (Chinese New Year's Eve) for a total of 8 days. The market will open from February 5 (the eighth day of the first lunar month).

[Industry hot spots].

84 semiconductor companies announced their results, and nearly sixty percent of them were happy

China's new energy storage rapid development institutions are optimistic about the future development

The consumer electronics industry is booming, and the investment opportunities in the industrial chain are highlighted

[Market dynamics].

A-shares: On the 23rd, the index closed mixed, with the Chuangzhi Index and the Shenzhen Component Index turning green in the afternoon. As of the close, the Shanghai Composite Index was at 3,230.16 points, up 0.51%, with a turnover of 539.801 billion yuan, the Shenzhen Component Index was at 10,176.17 points, down 0.49%, with a turnover of 815.484 billion yuan, and the ChiNext Index was at 2,093.31 points, down 0.37%, with a turnover of 387.834 billion yuan. In terms of sectors, the concept of big finance continued to be strong, with the insurance and banking sectors leading the gains, and the consumer electronics and component sectors leading the decline.

Hong Kong stocks: On the 23rd, the three major indexes of Hong Kong stocks opened high and low, as of the close, the Hang Seng Index fell 0.4% to 19700.56 points, the Hang Seng Technology Index fell 1.43%, and the state-owned enterprise index fell 0.18%. On the disk, technology stocks were mixed, Xiaomi fell more than 2%, Meituan fell nearly 1%, NetEase and Alibaba rose about 1%; Semiconductor concept stocks collectively dived in the afternoon, and SMIC fell more than 7%.

U.S. stocks: In the early morning of the 24th Beijing time, U.S. stocks closed higher on Thursday, with the Dow rising more than 400 points and the S&P 500 hitting another all-time high. The Dow closed up 408.34 points, or 0.92 percent, at 44,565.07, the Nasdaq added 44.34 points, or 0.22 percent, to 20,053.68 and the S&P 500 added 32.34 points, or 0.53 percent, to 6,118.71.

European stocks: Germany's DAX 30 index rose 0.54% to continue to hit a record closing high, the French stock index rose 0.65%, the Italian stock index rose 0.65%, the British stock index rose 0.23%, and the European STOXX 600 index rose 0.31%, breaking through the all-time high of 528.08 points set on September 27, 2024.

Institutional Strategy

Chen Gang, chief strategic analyst of Soochow Securities, believes that the possibility of a "rush" rebound in the market is not ruled out before the Spring Festival, and in the context of abundant liquidity, continued active industrial trends and the opening of policy imagination space, the growth of small and medium-cap technology in the A-share market and the pro-cyclical style will be interpreted together. For the growth style of science and technology, Chen Gang is optimistic about artificial intelligence, new energy, data elements and other fields, and the subdivided varieties cover AR glasses, humanoid robots, new power systems, information innovation, low-altitude economy, data security, etc.

Huaan Securities believes that from the market performance in the past month, the high-dividend sector in the volatile market is relatively resistant, and the pattern of the market capitalization style of small and medium-cap in the rising market is relatively clear, so the core grasp of the follow-up allocation of high-dividend sectors lies in the degree of improvement in market risk appetite.

[Topic Company].

Douyin Group will build a tertiary Sino-foreign joint venture hospital in Beijing, with foreign doctors accounting for no less than 20%?

Recently, the news that "Douyin Group will build a tertiary hospital in Beijing" has spread on the Internet. The reporter noted that the news originated from the official website of the Beijing Municipal Health Commission on January 16, entitled "The Beijing Municipal Health Commission on the approval of Douyin Group to establish the Beijing Airui Hospital (TBD) project".

According to the news, it is agreed that Douyin Group will carry out the construction of Beijing Airi Hospital (to be determined) project in the medical service plot (2905-0006 plot) of Chaoyang Park North District, Zhongguancun, Chaoyang District, Beijing, and the Chaoyang District Health Commission should guide Beijing Airi Hospital (to be determined) to complete the relevant procedures in accordance with the requirements of planning, housing and construction, fire protection, environmental protection and other departments to ensure that the medical institution is set up in accordance with relevant industry standards. The Chaoyang District Health Commission shall assist in guiding Beijing Airui Hospital (to be determined) to go through the procedures for medical institution licensing (Golden Kylin Analyst) in accordance with relevant national regulations, and the medical institution can only practice after passing the acceptance of the Beijing Municipal Health Commission.

4 billion! Nearly 50,000 yuan per capita! Wei Jianjun personally announced the year-end award!

"Take out 4 billion yuan to reward employees!" Approaching the time of year-end bonus distribution, "someone else's company" is here again.

At Great Wall Motor's 2025 Spring Festival Annual Meeting on January 22, Wei Jianjun, chairman of Great Wall Motor, said that he would spend 4 billion yuan to reward Great Wall Motor's employees. According to public data, Great Wall Motor currently has about 82,000 employees. If calculated according to this number, the per capita bonus is nearly 50,000 yuan.

[IPO dynamics].

None

Announcement Reminder

[Hot Spots].

Huiyuan Communication: The company produces CPO optical modules that are not hot spots in the market recently

Erlian board Huiyuan Communication (000586) disclosed the stock trading change announcement on the evening of January 23, saying that the company's production of plastic optical fiber optical modules (speed within 100 megabytes) for industrial automation is essentially different from the high-speed optical modules (speed up to 400G, 800G, and even 1.6T) required for data centers and AI computing power, which are not the recent hot spots in the market. Some media classify the company's shares as "CPO concept stocks", which is inaccurate.

[Performance].

Huatian Technology: Net profit in 2024 is expected to increase by 143.02%-178.36% year-on-year

Huatian Technology (002185) released a performance forecast on the evening of January 23, and it is expected that the net profit attributable to the parent company in 2024 will be 550 million yuan to 630 million yuan, a year-on-year increase of 143.02%-178.36%. In 2024, under the influence of the recovery of demand for related electronic terminal products, the prosperity of integrated circuits will rebound. Affected by this, during the reporting period, the company's orders increased, the capacity utilization rate increased, and the operating income increased significantly compared with the same period last year, which greatly improved the company's operating performance.

Shanghai Electric Co., Ltd. 2024 performance express: net profit of 2.587 billion yuan, a year-on-year increase of 71.05%.

Shanghai Electric Co., Ltd. (002463) released its 2024 annual performance report on the evening of January 23, with a total operating income of 13.342 billion yuan in 2024, a year-on-year increase of 49.26%; net profit attributable to shareholders of listed companies was 2.587 billion yuan, a year-on-year increase of 71.05%; Basic earnings per share was 1.35 yuan, a year-on-year increase of 70.14%. In 2024, the company's PCB business will achieve operating income of about 12.839 billion yuan, a year-on-year increase of about 49.78%; At the same time, with the further optimization of the product structure of the company's PCB business, the gross profit margin of the company's PCB business increased to about 35.85%.

Colorful Chemical: Net profit in 2024 is expected to increase by 899.77%-1172.44% year-on-year

Colorful Chemical (300758) announced on the evening of January 23 that the net profit attributable to shareholders of listed companies in 2024 is expected to be 110 million yuan to 140 million yuan, a year-on-year increase of 899.77% to 1172.44%. During the reporting period, the company achieved the recovery and growth of operating performance. The production and sales of high-performance organic pigment products increased significantly, and the comprehensive gross profit margin increased.

Feikai Materials: Net profit in 2024 is expected to increase by 83.66%-138.76% year-on-year

Feikai Materials (300398) released a performance forecast on the evening of January 23, and it is expected that the net profit attributable to the parent company in 2024 will be 206 million yuan - 268 million yuan, a year-on-year increase of 83.66% - 138.76%. Benefiting from the strong recovery of downstream demand in the global integrated circuit semiconductor and display market, driving the steady increase in domestic demand for semiconductor packaging and display materials, the company has further expanded the business scale of the semiconductor packaging and display market with a series of high-quality semiconductor packaging and display materials such as electroplating solution, etching solution, solder ball, EMC epoxy molding material, liquid crystal and photoresist with differentiated advantages, and its leading edge has continued to improve.

Pien Tze Huang's 2024 performance report: net profit attributable to the parent company was 2.974 billion yuan, a year-on-year increase of 6.32

Pien Tze Huang (600436) released its 2024 annual performance report on the evening of January 23, with the company's total operating income of 10.769 billion yuan, a year-on-year increase of 7.06%; the total profit was 3.538 billion yuan, a year-on-year increase of 5.02%; net profit attributable to shareholders of listed companies was 2.974 billion yuan, a year-on-year increase of 6.32%; Basic earnings per share was 4.93 yuan, a year-on-year increase of 6.25%. The main reason for the slowdown in the company's profit growth is that the rising cost of important raw materials has compressed profit margins.

Kairun shares: net profit in 2024 is expected to increase by 220.01%-263.25% year-on-year

Kairun Co., Ltd. (300577) released a performance forecast on the evening of January 23, and it is expected that the net profit attributable to the parent company in 2024 will be 370 million yuan - 420 million yuan, a year-on-year increase of 220.01% - 263.25%. During the reporting period, the company's OEM manufacturing business customers gradually got rid of the impact of destocking, and the demand for finished product procurement from suppliers rebounded steadily. The company seized the opportunity, relying on the advantages of global layout and advanced production and manufacturing capabilities, while consolidating the competitive advantage of the luggage category, actively expanding the clothing OEM business, accelerating the increase in the share of new and old customers, optimizing production and operation efficiency, and achieving year-on-year growth in sales revenue and profit. In June 2024, the company acquired control of Shanghai Jiale, a core supplier of UNIQLO knitwear apparel through acquisition, and Shanghai Jiale was included in the company's consolidated financial statements, bringing sales revenue and profit year-on-year growth.

I love my family: It is expected that the net profit attributable to the parent in 2024 will be 70 million yuan - 100 million yuan year-on-year

I love my home (000560) released a performance forecast on the evening of January 23, and it is expected that the net profit attributable to the parent company in 2024 will be 70 million yuan - 100 million yuan, and the loss in the same period last year will be 848 million yuan. Since 2024, the relevant policies of the domestic real estate market have continued to relax and increase, and the central bank has continuously cut interest rates and reserve requirements, and successively reduced the down payment ratio of housing loans. Especially since the end of September last year, the meeting of the Political Bureau of the Central Committee clearly put forward "to promote the real estate market to stop falling and stabilize", followed by the coordinated implementation of multi-departmental policies, under the influence of a package of policies, the domestic second-hand housing market in the fourth quarter of last year showed a strong recovery trend, the company's business in the core first-tier cities of the second-hand housing volume, transaction prices have shown a rebounding trend, which has a positive impact on the company's performance during the reporting period.

New Hope: Net profit in 2024 is expected to increase by 80.58%-120.71% year-on-year

New Hope (000876) released a performance forecast on the evening of January 23, and it is expected that the net profit attributable to the parent company in 2024 will be 450 million yuan to 550 million yuan, a year-on-year increase of 80.58%-120.71%. In 2024, the company will focus on its main business, strive to promote high-quality development, improve production management significantly, and steadily reduce breeding costs.

Anyang Iron and Steel: Net profit in 2024 is expected to be about 2.95 billion yuan

Anyang Iron and Steel (600569) announced on the evening of January 23 that according to the preliminary calculation of the company's financial department, it is expected to achieve a net profit loss attributable to shareholders of listed companies of about 2.95 billion yuan in 2024, compared with a loss of 1.554 billion yuan in the same period last year. In 2024, the contradiction between supply and demand in the steel industry will still be prominent, steel prices will fluctuate downward and continue to be low, and the price of raw materials such as iron ore will be easily rising and falling, and the industry's profits will decline significantly year-on-year.

Aluminum Corporation of China: Net profit in 2024 is expected to be 12 billion yuan to 13 billion yuan, and the operating performance may be the best since its establishment

Aluminum Corporation of China (601600) announced on the evening of January 23 that after preliminary calculations, the company's net profit attributable to shareholders of listed companies in 2024 is expected to be 12 billion yuan to 13 billion yuan, an increase of 79% to 94% year-on-year. In 2024, the company will uphold the ultimate business philosophy, grasp the good market opportunities, give full play to the advantages of the whole industry chain, pay close attention to the improvement of operational efficiency and refined cost control, achieve high, stable and excellent production, and achieve the best operating performance since its establishment.

JA Solar: Net profit in 2024 is expected to be a loss of 4.5 billion yuan to 5.2 billion yuan

JA Solar Technology (002459) announced on the evening of January 23 that the net profit loss attributable to shareholders of listed companies in 2024 is expected to be 4.5 billion yuan to 5.2 billion yuan, compared with a profit of 7.039 billion yuan in the same period last year. Due to the continuous impact of the mismatch between supply and demand in the photovoltaic industry, the intensification of market competition, the sharp decline in the prices of major products in all links, and the increasingly severe international trade environment, the profitability of the company's main business continued to decline during the reporting period. At the same time, the company conducts impairment tests on long-term assets that show signs of impairment, and after prudent evaluation, it will make provision for asset impairment in accordance with the accounting standards for business enterprises, which has a greater impact on performance.

Chenming Paper: In 2024, the net profit attributable to the parent company will be 6.5 billion yuan to 7.5 billion yuan

Chenming Paper (000488) released a performance forecast on the evening of January 23, and it is expected that the net profit attributable to the parent company will lose 6.5 billion yuan to 7.5 billion yuan in 2024, compared with a loss of 1.281 billion yuan in the same period last year. In recent years, the new production capacity of the paper industry has been put into concentrated production, and the short-term supply and demand contradiction is prominent, and the prices of the company's main products have continued to decline during the reporting period, and the gross profit has decreased year-on-year; Some financial leasing customers are not operating well, and there are emergencies such as litigation and seizure, and the company has increased the proportion of bad debt provision for some financial leasing customers out of the principle of prudence; Affected by the shutdown and maintenance of the company's main production bases in the fourth quarter of last year, the production capacity was not ideal, and the production and sales volume declined year-on-year, and the company made impairment provisions for some assets.

China Galaxy Performance Express: Net profit in 2024 will be 10.133 billion yuan, a year-on-year increase of 28.62

China Galaxy (601881) disclosed its performance report on the evening of January 23, and in 2024, the company will achieve operating income of 35.37 billion yuan, a year-on-year increase of 5.13%; net profit attributable to shareholders of listed companies was 10.133 billion yuan, a year-on-year increase of 28.62%; Basic earnings per share was 0.82 yuan. In 2024, the company's investment trading, wealth management and other businesses will develop well, and its performance will grow steadily.

ECT: Net profit in 2024 is expected to increase by 64.54%-92.61% year-on-year

ECT (300679) released a performance forecast on the evening of January 23, and it is expected that the net profit attributable to the parent company in 2024 will be 586 million yuan to 686 million yuan, a year-on-year increase of 64.54% to 92.61%. During the reporting period, the company's main business maintained stable growth, and the market trend was positive. With the rapid development of the automobile market, especially the acceleration of the iteration of hardware and software for new energy vehicles, the company's automotive connector market share has increased steadily, the number of product shipments and output value have continued to maintain rapid growth year-on-year, and the customer structure of the company's automotive connector products has been continuously optimized, and the operating income of core customers has achieved rapid growth year-on-year. The demand of the consumer electronics industry at home and abroad recovered, and the operating income of the company's mobile phone and non-mobile phone consumer electronics business increased year-on-year.

Allwinner Technology: Net profit in 2024 is expected to increase by 566.29%-727.42% year-on-year

Allwinner Technology (300458) released a performance forecast on the evening of January 23, and it is expected that the net profit attributable to the parent company in 2024 will be 153 million yuan - 190 million yuan, a year-on-year increase of 566.29% - 727.42%. During the reporting period, the company actively grasped the opportunity of the recovery of downstream market demand, improved the product matrix, and vigorously expanded the business of automotive, industrial, consumer and other product lines, represented by sweeping robots, intelligent projection and other business lines, and the shipment volume increased significantly, resulting in a year-on-year increase of about 35% in operating income, a record high. The increase in operating income led to the increase in net profit.

BIWIN Storage: It is expected that the net profit in 2024 will be 160 million yuan to 200 million yuan, a year-on-year turnaround

BIWIN Storage (688525) announced on the evening of January 23 that it is expected to achieve a net profit attributable to the owners of the parent company of 160 million yuan to 200 million yuan in 2024, compared with a loss of 624 million yuan in the same period last year. The storage industry has recovered, and the company's business has grown significantly. In 2024, the company firmly grasped the upward opportunities of the industry, vigorously expanded first-line mobile phone and PC customers at home and abroad, achieved a breakthrough in market and business growth, product sales increased significantly year-on-year, and the company's operating income increased by 81.02% to 94.95% year-on-year.

[Increase or decrease in holdings].

China Construction Environmental Energy: Huaneng Demei Investment plans to reduce its holdings of no more than 2.28% of the company's shares

China Construction Environmental Energy (300425) announced on the evening of January 23 that Chengdu Huaneng Demei Investment Co., Ltd. (hereinafter referred to as "Huaneng Demei Investment"), a major shareholder holding 9.11% of the company's shares, plans to reduce its holdings of the company's shares by no more than 15.5419 million shares (accounting for 2.28% of the company's total share capital) by means of centralized bidding and block trading.

Zhongke Jiangnan: Shareholders will reduce their holdings of the company by no more than 1.89% in total

Zhongke Jiangnan (301153) announced on the evening of January 23 that shareholders Tianjin Zhongzhi Venture Capital Partnership (Limited Partnership) (hereinafter referred to as "Zhongzhi Soft Technology") and Tianjin Keding Friends Information Technology Center (Limited Partnership) (hereinafter referred to as "Keding Friends") plan to reduce their holdings of the company's shares by a total of no more than 6.62 million shares (accounting for no more than 1.8919% of the company's total share capital).

Weston: Congwei Consulting intends to reduce its holdings of no more than 2.41% of the company's shares

Weston (301315) announced on the evening of January 23 that Shanghai Congwei Consulting Management Partnership (Limited Partnership) (hereinafter referred to as "Congwei Consulting"), a 7.41% shareholder of the company, intends to reduce its holdings of the company's shares by no more than 2.12 million shares (accounting for 2.41% of the company's total share capital) by means of call bidding or block trading.

Yangdian Technology: Shareholders plan to reduce their holdings of no more than 2.57% of the company's shares

Yangdian Technology (301012) announced on January 23 that Taizhou Yangyuan Enterprise Management Center (Limited Partnership) (hereinafter referred to as "Taizhou Yangyuan") intends to reduce its holdings of the company's shares by no more than 3.6189 million shares, accounting for 2.54% of the total share capital (accounting for 2.57% of the company's total share capital after excluding the number of shares in the repurchase special securities account). Taizhou Yangyuan is the controlling shareholder and actual controller of the company, acting in concert, and is the company's employee shareholding platform, and Tai Liqun, one of the company's co-actual controllers, is the executive partner of Taizhou Yangyuan.

[Repurchase].

Lianchuang Optoelectronics: plans to repurchase the company's shares with 100 million yuan - 150 million yuan

Lianchuang Optoelectronics (600363) announced on the evening of January 23 that the company intends to use its own funds or self-raised funds to repurchase the company's shares through centralized bidding. It is estimated that the repurchase amount will be 100 million yuan - 150 million yuan, the proportion of repurchased shares in the total share capital will be 0.31% - 0.47%, the upper limit of the repurchase price will be 70 yuan per share, and the purpose of the repurchase will be to reduce the registered capital.

YH Technology: It is planned to repurchase the company's shares with 100 million to 200 million yuan

YH Technology (300457) announced on the evening of January 23 that the company intends to repurchase the company's shares for 100 million to 200 million yuan for equity incentives, and the price of the repurchased shares does not exceed 28.94 yuan per share.

[Contract Winning Bid].

Fengyi Technology: Signed a cooperation framework agreement with Sanhua Holdings to devote itself to the research of cutting-edge technology of coreless motors

Fengyi Technology (688279) announced on the evening of January 23 that the company (hereinafter referred to as "Party B") and Sanhua Holding Group Co., Ltd. (hereinafter referred to as "Party A") recently signed the "Cooperation Framework Agreement". The two parties agreed to jointly invest in the establishment of a joint venture company, the registered capital of the joint venture company is tentatively set at 30 million yuan, and both parties will contribute in cash, of which Party A intends to hold 50% of the equity of the joint venture company, and Party B intends to hold 36% of the equity of the joint venture company. The joint venture company is controlled by Party A. This Agreement is valid for ten years from the date of signing. The main business of the joint venture company is to focus on the R&D, design, manufacturing and sales of coreless motor (slotless permanent magnet AC motor) and related products. This cooperation is committed to the cutting-edge technology research of coreless motor (slotless permanent magnet AC motor), aiming to break through the key technical bottlenecks and deepen industrial application, which is conducive to the overall strategic development of the company.

Zhongrong Electric: Obtained the customer's project designation notice

Zhongrong Electric (301031) announced on the evening of January 23 that the company recently received a global exclusive fixed-point fixed-point notice for the 450VDC latest generation electrification platform Tier 1 incentive fuse of a project of a new power car company in the United States. Up to now, the company has received the fixed-point notice of the project and signed a formal contract. The signing of the letter indicates that the project has made important progress in phases. The total sales value during the project period is expected to be RMB145 million. The project is expected to start SOP in April 2026 and will not have a significant impact on the company's performance for the current year.

Wangfujing: The company has become the supplier of the investment promotion project of the main body of duty-free shops in Changsha

Wangfujing (600859) announced on the evening of January 23 that the company recently participated in the competitive negotiation of the investment promotion project of the main body of duty-free shops in Changsha. On January 22, 2025, the company received the "Transaction Notice" from the bidding agency Huaxin Project Management Group Co., Ltd., confirming that Wangfujing is the project transaction supplier with a contract performance period of 10 years. The company announced on the same day that on January 24, 2025, the Wangfujing Duty-free Shop of Harbin Airport under the company's flag (Golden Kirin Analyst) will be open to the public. Harbin Airport Wangfujing Duty-Free Shop is the company's first port duty-free project to be put into operation. As of the date of this announcement, the company operates a total of 79 large-scale comprehensive taxable retail stores, 1 offshore duty-free store and 1 port duty-free store nationwide.

Time and Space Technology: Won the bid for the general contracting project of environmental remediation project with an amount of 27.1324 million yuan

Space-time Technology (605178) announced on the evening of January 23 that the company recently received the "Notice of Winning the Bid", confirming that the company is the winning bidder of the "General Contracting of Environmental Remediation Project (EPC) in the Mishan to Gaoping Boundary Road Area (Bid Section)" of Pingqu Curve, with a winning bid amount of 27.1324 million yuan. The bid-winning project belongs to the company's main business, and the winning bid amount accounts for about 13.38% of the company's audited operating income in 2023. If the company can sign a formal project contract and implement it smoothly, it will have a positive impact on the company's operating performance.

Zhonglan Environmental Protection: jointly pre-won the bid for a 136 million yuan project

Zhonglan Environmental Protection (300854) announced on the evening of January 23 that the consortium formed by the company and Guangdong Architectural Design and Research Institute Group Co., Ltd. pre-won the bid for the general contracting of survey, design and construction of Lianzhou Waste Classification Comprehensive Resource Disposal Construction Project (Lianzhou Waste Biogas Power Generation Facility Construction and Ecological Remediation Project), with a total bid price of 136 million yuan.

Zhuhai Guanyu: Received a fixed-point notice from a new domestic car-making force to develop and supply 12V automotive low-voltage lithium batteries

Zhuhai Guanyu (688772) announced on the evening of January 23 that it had recently received a fixed-point notice from a new domestic car-making force (referred to as "customer"). The customer chose the company as its designated supplier to develop and supply 12V automotive low-voltage lithium batteries for it. With the mass production and listing of the models of the company's cooperative customers, the company's low-voltage lithium battery shipments have achieved rapid growth.

Rhine Biotech: Termination of the cooperation agreement for the industrial hemp atomization project

Rhine Biotech (002166) announced on the evening of January 23 that on February 26, 2024, the company signed a three-year "Project Cooperation Agreement" with Chen Hao, a natural person, and his team (hereinafter referred to as the "cooperation team"), aiming to further improve the company's investment and layout in the field of industrial hemp, combine the advantages of both parties in industrial resources, brand operation, atomized oil formula research and development, sales channels, etc., and take the subdivision of industrial hemp atomization as a breakthrough to steadily develop the overseas industrial hemp sales market. Recently, the accounting firm hired by the company conducted a preliminary audit of the project company involved in the project cooperation agreement during the pre-examination of the company's annual report, and it is expected that the partner and its team will not be able to achieve the assessment target agreed in the project agreement in 2024. Therefore, based on the actual operation of the project company and the agreement, the company decided to terminate the agreement ahead of schedule.

[Change in equity].

Fu Miao Technology: The controlling shareholder is planning the transfer of the company's shares, and the stock is suspended

Fu Miao Technology (688350) announced on the evening of January 23 that the company received a notice from the company's controlling shareholder Feixiang on January 23 that Feixiang shares are planning the transfer of the company's shares, which may lead to a change in the company's control. The company's shares and convertible corporate bonds will be suspended from the opening of the market on January 24, and the suspension is expected to last no more than 2 trading days.

[Significant investment].

Zhongbei Communication: The holding subsidiary plans to acquire 55% of the shares of Semesta for 25 million US dollars

Zhongbei Communication (603220) announced on the evening of January 23 that the company's holding subsidiary, Bei Communication International, intends to acquire PT. 55% equity interest in Semesta Energi Services ("Semesta"). Semsta is a well-known communication and energy infrastructure builder and information technology service provider in Indonesia, with engineering construction qualifications and rich experience in project delivery, as well as software development capabilities for information technology products. Upon completion of the transaction, it will bring expansion and enhancement to the company in a number of ways.

[M&A and reorganization].

Aisen shares: to acquire a controlling stake in the new material company to suspend trading

Aisen Co., Ltd. (688720) announced on the evening of January 23 that the company is planning to purchase a controlling stake in Linuo (Suzhou) New Materials Co., Ltd. (hereinafter referred to as "Linuo New Materials") by issuing shares and paying cash and raising matching funds (hereinafter referred to as "this transaction"). This transaction is not expected to constitute a major asset restructuring, will not lead to a change in the actual controller of the company, and will not constitute a restructuring and listing. Trading in the company's securities has been suspended since the market opened on January 24, and the suspension is expected to last no more than 5 trading days.

Feirongda: The subsidiary plans to acquire 100% of the shares of Jiangsu Zhongyu for 380 million yuan

Feirongda (300602) announced on the evening of January 23 that Jiangsu Feirongda, a wholly-owned subsidiary of the company, intends to acquire 100% of the shares of Jiangsu Zhongyu Rubber and Plastic Technology Co., Ltd. (hereinafter referred to as "Jiangsu Zhongyu"), with a transaction price of 380 million yuan. The target company is a manufacturing enterprise integrating the production and sales of high-end rubber seals and new energy vehicle rubber products, and has a professional technical team for rubber material research and development. The acquisition will enrich the company's product matrix in the field of new energy, enhance the company's comprehensive capabilities in electromagnetic shielding and thermal management solutions, effectively realize resource integration and business synergy, and help enhance the company's comprehensive competitiveness and market share.

[Other].

AVIC: It is proposed to change the stock abbreviation and securities code

AVIC (300114) announced on the evening of January 23 that the company intends to change the securities abbreviation from "AVIC" to "AVIC Chengfei", the English abbreviation from "ZEMIC" to "AVIC CAC", and the securities code from "300114" to "302132". The proposed launch date of the changed stock abbreviation and securities code is to be determined, and the date of final approval by the Shenzhen Stock Exchange shall prevail.

Century Dingli: Xu Zequan, director and general manager of the company, voluntarily gave up receiving salary

Century Dingli (300050) announced on the evening of January 23 that the company recently received the company's director and general manager Xu Zequan's "commitment to voluntarily give up receiving salary", considering that the company's 2024 annual operating performance is expected to still be in a state of loss, in order to express confidence in the company's future development and the determination to advance and retreat together with the company, and effectively seek opportunities for the company's business development and achieve a turnaround in performance as soon as possible, Xu Zequan voluntarily gave up receiving salary, and the period will take effect from January 2025until the company achieves positive net profit attributable to shareholders of the listed company for two consecutive quarters.