Finance Associated Press

Kweichow Moutai: Net profit in 2024 will increase by 15.38% year-on-year, and 10 distributions of 276.24 yuan are planned

Today's Spotlight

[WuXi AppTec: Sold 50.8 million shares of WuXi XDC with investment income of about 1.847 billion yuan].

WuXi AppTec (603259.SH) announced that the company sold 50.8 million shares of WuXi XDC through a block transaction on April 1, 2025, with a transaction amount of about HK $2.178 billion. The transaction accounted for 3.43% of the Company's latest audited net assets attributable to shareholders of the parent company, and the investment income was approximately RMB1.847 billion, accounting for more than 10% of the Company's latest audited net profit attributable to shareholders of the parent company. The proceeds from the sale will be used for global production capacity and capacity building, as well as talent attraction and retention.

[Kweichow Moutai: net profit in 2024 will increase by 15.38% year-on-year, and 10 distributions of 276.24 yuan are planned

Kweichow Moutai announced that the net profit attributable to shareholders of listed companies in 2024 will be 86.228 billion yuan, a year-on-year increase of 15.38%. A cash dividend of RMB 276.24 (tax included) is proposed for every 10 shares.

[Anyuan Coal Industry: It is planned to acquire 57% of the shares of Jinhuan Magnetic Separating and at the same time place the coal business, which is expected to constitute a major asset restructuring].

Anyuan Coal Industry (600397.SH) announced that the company's controlling shareholder, Jiangxi Tungsten Holdings, intends to replace 57% of the shares of Jinhuan Magnetic Separation held by its holding subsidiary Jiangxi Tungsten Development with the assets and liabilities related to the coal business held by the company, and the difference between the transaction price of the assets to be placed and the assets to be placed will be made up by one party to the other party in cash and other means. This transaction constitutes a connected transaction and is expected to constitute a major asset restructuring. After the completion of this transaction, the main business of the listed company will cover the research and development, production, sales and provision of whole-process solutions for magnetic separation, gravity separation and intelligent mineral processing equipment, as well as the provision of whole-process solutions for mining, so as to realize the strategic transformation of the main business.

[Han's CNC: The company is conducting preliminary demonstration on the overseas issuance of securities (H shares) and listing].

Han's CNC (301200.SZ) announced that the company held the 11th meeting of the second board of directors on April 2, 2025, and deliberated and passed the "Proposal on Agreeing to the Company's Research and Demonstration of the Company's Overseas Issuance of Securities (H Shares) and Listing". The company is conducting preliminary demonstrations on the overseas issuance of securities (H shares) and listing.

[T&S: Signed a global patent license agreement with US Conec Ltd. to mass produce and sell MDC fiber optic connectors to the market].

T&S (300570.SZ) announced that the company signed a global patent license agreement for MDC connectors with US Conec Ltd., and obtained a non-exclusive license for 11 core patents, which can manufacture MDC high-density optical fiber connectors and adapters based on US Conec's core patents and sell them worldwide. The partnership will enable the company to mass produce and sell MDC fiber optic connectors and related products to the market, providing key components for 800G/1.6T Ethernet deployments, and providing high-reliability, high-density optical connectivity solutions for co-packaged optics (CPO).

[AVIC Industry and Finance: It intends to voluntarily withdraw the listing and trading of A-share shares and suspend trading from April 3].

AVIC Industry and Finance (600705.SH) announced that the company's shares will be suspended from the opening of the market on April 3, 2025 (Thursday) because the company intends to voluntarily withdraw the listing and trading of A-shares on the Shanghai Stock Exchange by resolution of the general meeting of shareholders and instead apply for transfer in the national small and medium-sized enterprise share transfer system.

[New Hope: It is expected to make a profit of 430 million yuan to 500 million yuan in the first quarter, turning losses into profits year-on-year].

New Hope (000876.SZ) announced that it expects a net profit attributable to shareholders of listed companies in the first quarter of 2025 to be 430 million yuan to 500 million yuan, compared with a loss of 1.934 billion yuan in the same period last year. Net profit after deducting non-recurring gains and losses ranged from $431 million to $501 million. Basic earnings per share was 0.09 yuan/share to 0.11 yuan/share. The change in performance was mainly due to the decrease in the loss of the pig breeding business and the increase in the volume and profit of the feed business.

Stock price movements

[6 days and 3 boards of Xinyada: the company has no major matters that should be disclosed but have not been disclosed].

Xinyada (600571.SH) announced that the company's stock trading has deviated from the closing price by more than 20% in three consecutive trading days, constituting abnormal fluctuations in stock trading. After verification, the company's production and operation are normal, the main business has not undergone major changes, and the internal business environment has not undergone major changes. At the same time, the company, its controlling shareholders and actual controllers do not have any material matters or important information that should be disclosed but have not been disclosed. The company reminds investors to pay attention to investment risks and make rational decisions.

Private placement & financing & repurchase

[Wan Liyang: Shareholder Shaanxi Guotou Changfeng No. 52 plans to reduce its holdings of no more than 1.5% of the company's shares].

Wanliyang (002434.SZ) announced that the shareholder Shaanxi Guotou Changfeng No. 52 plans to reduce its holdings of the company's shares by centralized bidding and/or block trading within 3 months after 15 trading days from the date of disclosure of the announcement, accounting for 1.5% of the company's total share capital. Among them, the total number of shares reduced through centralized auction transactions shall not exceed 1% of the company's total share capital. The reason for the reduction is the shareholders' own capital needs, and the source of the shares is the transfer by agreement. The price of the reduction will be determined based on the market price.

[Yunnan Tourism: It is planned to raise no more than 191 million yuan].

Yunnan Tourism (002059) announced on the evening of April 2 that it plans to raise no more than 191 million yuan for the construction of Chuzhou Overseas Chinese Town Cultural Tourism Equipment Industrial Park and infrastructure equipment investment projects, repayment of interest-bearing debts and replenishment of working capital.

Underweight & Overweight

[Xiongsu Technology: The two shareholders will reduce their holdings by no more than 3% of the company's shares in total].

Xiongsu Technology (300599.SZ) announced that Huang Jinxi, one of the actual controllers of the company, a shareholder holding more than 5% of the shares, and vice chairman, and Wu Duanming, director, deputy general manager and chief financial officer, hold a total of 24.76% of the company's shares, and plan to reduce their holdings of no more than 3% of the company's shares through centralized bidding and block trading.

[Guangge Technology: shareholders plan to reduce their holdings of no more than 3% of the company's shares in total].

Guangge Technology (688450.SH) announced that the company recently received a notice letter from Cornerstone Venture Capital and Fangguang Phase II, shareholders holding more than 5% of the shares. Cornerstone Ventures plans to reduce its holdings by no more than 990,000 shares, not exceeding 1.5% of the company's total share capital; Fangguang Phase II plans to reduce its holdings by no more than 990,000 shares, not exceeding 1.5% of the company's total share capital.

[Hengtong shares: the controlling shareholder plans to increase his holdings of 150 million yuan to 300 million yuan of the company's shares].

Hengtong shares (600226.SH) announced that the company's controlling shareholder Hengtong Group intends to increase its holdings of the company's shares with its own funds and special loans, with an increase of not less than 150 million yuan and no more than 300 million yuan. The increase in holdings is carried out through centralized bidding through the trading system of the Shanghai Stock Exchange.

Transfers & Acquisitions & Investments

[Jin Longyu: plans to invest 1.2 billion yuan to build a solid-state battery material project].

Jinlongyu (002882.SZ) announced that the company's grandson company Jinlongyu New Energy (Huidong) Co., Ltd. plans to invest in the construction of a mass production line project of key materials for solid-state batteries in Huizhou New Material Industrial Park, with a total investment of 1.2 billion yuan. Jin Longyu released its 2024 annual report on the same day, and the company's operating income was 3.675 billion yuan, a year-on-year decrease of 6.53%; net profit attributable to shareholders of listed companies was 140 million yuan, down 14.14% year-on-year. The company plans to distribute a cash dividend of 3 yuan (tax included) for every 10 shares.

[Huasheng Lithium Battery: It is planned to invest 950 million yuan to build a vinylene carbonate project with an annual output of 60,000 tons (30,000 tons in the first phase)].

Huasheng Lithium (688353.SH) announced that the company intends to sign the "Huasheng Lithium Battery Additive Project Supplementary Contract" with the People's Government of Yunmeng County, Xiaogan City, Hubei Province, and invest in the construction of the "annual output of 60,000 tons of vinylene carbonate (VC) project (30,000 tons in the first phase)" with the holding subsidiary Hubei Huasheng Xianghe New Energy Materials Co., Ltd. as the implementation body, with a total investment of about 950 million yuan. The source of funding for the project is the company's own or self-raised funds.

[XGIMI Technology: The inquiry transfer price is 111.06 yuan / share].

XGIMI Technology (688696.SH) announced that according to the inquiry subscription on April 2, 2025, the preliminarily determined transfer price of this inquiry is 111.06 yuan per share. The shares to be transferred in this inquiry have been fully subscribed, and the transferees have been preliminarily determined to be 13 institutional investors, with a total of 1.75 million shares.

[Yuntian Lifei: The remaining computing power service is accepted].

Yuntian Lifei (688343.SH) announced that its wholly-owned subsidiary, Lifei Technology, has completed the delivery of AI training and inference computing power services and corresponding deliverables to Deyuan Fanghui, and has completed the acceptance of the remaining computing power services (corresponding to about 40% of the computing power scale in the contract). The acceptance conclusion is that the basic computing power service for training and inference (corresponding to about 40% of the computing power scale of the contract), as well as the intelligent computing power scheduling and AI large model development service platform, meet the acceptance requirements agreed in the contract. According to the contract and the acceptance results, the project has realized the normal settlement of the service fee and has been paid. The acceptance of the remaining computing power service has a positive impact on the company's operating performance, which is conducive to enhancing market competitiveness and promoting the healthy and sustainable development of the company.

[Gongda Electroacoustics: It is planned to invest 30 million yuan to set up a wholly-owned subsidiary, Shandong Qiantu Intelligent Driving Co., Ltd.].

Gongda Electroacoustics (002655.SZ) announced that the company intends to invest 30 million yuan of its own funds to set up a wholly-owned subsidiary, Shandong Qiantu Zhijia Co., Ltd., with a registered address of No. 68, Fengshan Road, Fangzi District, Weifang City, with a registered capital of 30 million yuan. The company said that this investment is conducive to further improving and upgrading the company's industrial layout and promoting the company's comprehensive and healthy development. All the funds required for this investment come from the company's own funds, and will not have a significant impact on the company's financial condition and operating results.

[Chengxing shares: plans to increase investment to 2.3 billion yuan to build Jiangyin Lingang project].

Chengxing Co., Ltd. (600078.SH) announced that the company's wholly-owned subsidiary, Chengxing Technology, plans to sign a supplementary agreement with the Management Committee of Jiangsu Jiangyin Lingang Economic Development Zone to increase the total investment of Jiangyin Lingang project to about 2.3 billion yuan, and the project product and scale will be changed to an annual output of 140,000 tons of phosphoric acid supporting 30,000 tons of electronic-grade phosphoric acid and 60,000 tons of new materials. The project still needs to be submitted to the company's general meeting of shareholders for deliberation, and is not expected to have a significant impact on the company's financial position and operating results for the current year.

Business & Performance

[Hailu Heavy Industry: Net profit in the first quarter of 2025 is expected to increase by 50%-65% year-on-year].

Hailu Heavy Industry (002255.SZ) announced that it is expected that the net profit attributable to shareholders of listed companies in the first quarter of 2025 will be 68.1294 million yuan to 74.9423 million yuan, a year-on-year increase of 50.00% - 65.00%. The net profit after deducting non-recurring gains and losses was 61.9948 million yuan to 68.408 million yuan, a year-on-year increase of 45.00% -60.00%. Basic earnings per share was 0.0820 yuan/share–0.0902 yuan/share. The increase in performance was mainly due to the obvious improvement in order quality, the increase in the proportion of orders for high-margin products, and the high growth of sales gross margin in the first quarter.

[Emma Technology: net profit is expected to increase by 25.12% year-on-year in the first quarter of 2025].

Emma Technology (603529.SH) announced that it is expected to achieve a net profit attributable to shareholders of listed companies of about 605 million yuan in the first quarter of 2025, an increase of 121 million yuan compared with the same period last year, a year-on-year increase of 25.12%. The increase in performance was mainly due to the company's continuous focus on the R&D and manufacturing of electric two-wheelers and three-wheelers, promoting the optimization and upgrading of product structure through technological innovation and precise product development, while deepening channel network coverage and supply chain synergy, and further increasing the proportion of high value-added vehicles.

[Kuangshun Materials: The fund-raising project "11300t/a self-made resin and 7000t/a inner layer ink" began trial production].

Kuangshun Materials (300537.SZ) announced that the company's fund-raising project "annual output of 50,000 tons of electronic photosensitive materials and supporting materials project" of "11,300t/a self-made resin and 7,000t/a inner layer ink" has been approved by the Longnan City Emergency Management Bureau for trial production, trial production period from April 2 to October 1, 2025. In addition, the company's PCB photoresist (PCB ink), self-made resin and other sub-projects have also been approved and carried out trial production. After the project is put into production as a whole, it will further enrich the industrial layout of the company's products in many fields and improve profitability. However, it still takes a certain amount of time for the project to move from trial production to large-scale mass production, and there is a risk of revenue fluctuations caused by capacity scheduling and sales coordination, as well as the risk that the project benefits are less than expected due to uncertainties such as market changes.

[Nanda Optoelectronics: Net profit in 2024 will increase by 28.15% year-on-year, and it is planned to transfer 10 to 2 and distribute 1 yuan].

Nanda Optoelectronics (300346.SZ) announced that in 2024, the company will achieve operating income of 2.352 billion yuan, a year-on-year increase of 38.08%; net profit attributable to shareholders of listed companies was 271 million yuan, a year-on-year increase of 28.15%. The company intends to distribute a cash dividend of 1.00 yuan (tax included) to all shareholders for every 10 shares, and increase 2 shares for every 10 shares to all shareholders with capital reserve.

[Chongqing Beer: Net profit in 2024 will be 1.115 billion yuan, down 16.61% year-on-year].

Chongqing Beer (600132.SH) announced that Chongqing Beer's 2024 annual report shows that the company achieved operating income of 14.645 billion yuan, a year-on-year decrease of 1.15%; net profit attributable to shareholders of listed companies was 1.115 billion yuan, down 16.61% year-on-year. The company plans to distribute a cash dividend of 0.90 yuan (tax included) per share to all shareholders, with a total dividend of 436 million yuan.

[Hubei Yihua: Net profit in 2024 will increase by 44.32% year-on-year, and it is proposed to distribute 2 yuan for every 10 shares].

Hubei Yihua (000422.SZ) announced that Hubei Yihua Chemical Co., Ltd. released a summary of the 2024 annual report, and the company achieved operating income of 16.964 billion yuan during the reporting period, a year-on-year decrease of 0.48%; net profit attributable to shareholders of listed companies was 653 million yuan, a year-on-year increase of 44.32%. The company plans to distribute a cash dividend of 2.00 yuan (tax included) to all shareholders for every 10 shares, and will not use the provident fund to increase share capital.

[Valin Cable: won the bid for a total of about 423 million yuan in the field of power and rail transit].

Valin Cable (001208.SZ) announced that the company recently won contracts in the field of power and rail transit with a total contract amount of about 423 million yuan, accounting for 10.18% of the audited operating income in 2024. Among them, in the field of electric power, it won the bid for the related projects of China Southern Power Grid Corporation, with an amount of 250.102 million yuan, and in the field of rail transit, it won the bid for the Chongqing Rail Transit Line 24 project of China Water Resources and Hydropower Fourth Engineering Bureau Co., Ltd., Central China Company, with an amount of 173.2836 million yuan.

Miscellaneous

[Bank of Hangzhou: Vice Chairman and President Yu Liming resigned for personal reasons].

Bank of Hangzhou (600926.SH) announced that the company's board of directors received a written resignation report from Yu Liming, who resigned from the company's vice chairman and president for personal reasons. Song Jianbin, chairman of the board of directors of the company, will perform the duties of the president on behalf of the president until the date when the qualifications of the new president are approved by the regulatory authorities. At present, the company's business activities are normal, and this matter will not have a significant impact on the company's daily operation and management.

[General Design Institute: a wholly-owned subsidiary has obtained Grade A qualification for engineering surveying and marine surveying and mapping].

The General Design Institute (603357.SH) announced that the company's wholly-owned subsidiary, Anhui Provincial Transportation Survey and Design Institute Co., Ltd., has recently obtained Grade A qualifications for engineering surveying and marine surveying and mapping. The engineering surveying qualification can undertake a number of surveying services, and the marine surveying and mapping qualification can undertake coastal topographic surveying, bathymetric surveying and other services. The acquisition of this qualification will help enhance the company's core competitiveness, develop new businesses, and empower high-quality development. However, the company's performance and operating conditions are affected by a variety of factors, and investors need to pay attention to investment risks. Collection

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