Selected A-share Announcements | Has the Photovoltaic Acquisition Case Changed? Tongwei Co., Ltd (600438.SH): The relevant matters are still in progress.

Today's Focus 1. Tongwei Co., Ltd: The company's acquisition of Runyang shares is still ongoing Tongwei Co., Ltd announced that recent media reports stated that certain production capacity of Jiangsu Runyang New Energy Technology Co., Ltd. ("Runyang shares") has been suspended. The company previously disclosed its plan to acquire at least 51% of Runyang shares through capital increase and equity acquisition. As of now, the related work is still ongoing, and the parties involved in the transaction are still negotiating on the transaction-related matters. There is a possibility of adjustment or termination of the original transaction plan. During the negotiation process, the parties involved are also actively exploring other integration solutions. If there are any definite developments or changes, the company will disclose them promptly. 2. 17 days, 12 boards Spic Yuanda Environmental-Protection: Rolling P/E significantly higher than industry average Spic Yuanda Environmental-Protection issued a risk alert for stock trading, stating that there may be a risk of a significant drop in stock price after a large short-term increase. According to Wind data, as of November 12, 2024, the company's latest rolling P/E ratio was 237.96 times, while the industry's latest rolling P/E ratio was 61.65 times. The company's rolling P/E ratio is significantly higher than the industry average. The company has disclosed its intention to acquire the equity of Wuling Power Co., Ltd. through the issuance of shares and payment of cash. However, the audit, evaluation, and other work for this transaction have not been completed, and the assessment value of the target assets and the transaction price have not been determined. Approval from the State-owned Assets Supervision and Administration Commission and regulatory agencies such as the China Securities Regulatory Commission and the Shanghai Stock Exchange is required. Therefore, there is uncertainty about whether the transaction can be successfully completed. 3. 9 days, 8 boards Innuovo Technology: Stock price deviates significantly from industry average Innuovo Technology issued a risk alert for abnormal stock trading. As of November 12, 2024, the company's static P/E ratio was 192.32 times, the rolling P/E ratio was 79.07 times, and the P/B ratio was 6.20 times. According to data from China Securities Index Co., Ltd., the average static P/E ratio for companies classified under "C30 Non-metallic Mineral Products Industry" is 17.17 times, the average rolling P/E ratio is 21.12 times, and the average P/B ratio is 1.36 times. The company's stock price deviates significantly from the industry average. 4. 8 days, 7 boards Nanfang Black Sesame Group: "Other Risk Alert" will be implemented if Black Five Group fails to pay the performance guarantee deposit in time Nanfang Black Sesame Group announced that it has appealed the first-instance judgment of the Nanning Intermediate People's Court in the case of the dispute over the financial loan contract between Guangfa Bank Nanning Branch and Nanning Children's Hospital to the Guangxi High Voltage Apparatus Research Institute. Recently, the Guangxi High Voltage Apparatus Research Institute issued a final judgment. According to the final judgment, Nanfang Black Sesame Group is required to bear compensation responsibility for half of the amount that Nanning Children's Hospital cannot repay to Guangfa Bank Nanning Branch, with the compensation amount limited to the value of 65.53 million yuan worth of shares in Guangxi Guoyi Company pledged by Nanfang Black Sesame Group. The controlling shareholder Black Five Group has made a bottom guarantee commitment to Nanfang Black Sesame Group regarding this lawsuit matter. The Black Five Group plans to pay the performance guarantee deposit of 65.53 million yuan to Nanfang Black Sesame Group's bank account by November 22, 2024. If the Black Five Group fails to pay the corresponding performance guarantee deposit by November 22, 2024, the stock trading of Nanfang Black Sesame Group will be subject to "Other Risk Alert". 5. 6 consecutive boards Daqian Ecology & Environment Group: Rolling P/E and P/B ratios are significantly higher than the average level Daqian Ecology & Environment Group issued a risk alert for stock trading, stating that the company's stock has been limit-up for 6 consecutive trading days, with a large actual volatility after excluding the overall market factors. According to data released by China Securities Index Co., Ltd. (Industry classification), the latest rolling P/E ratio for the industry is 7.57, and the latest P/B ratio is 0.66, while the company's latest rolling P/E ratio is 113.36 and the latest P/B ratio is 1.49. The company's rolling P/E and P/B ratios are significantly higher than the average level. 6. 5 consecutive boards Tianjin Motor Dies: Uncertainty remains as to whether the formal agreement for share transfer can be signed Tianjin Motor Dies issued a risk alert for abnormal stock trading, mentioning that on July 10, 2024 the company disclosed the signing of an "Intentional Share Transfer Agreement" between the controlling shareholder and Anhui Chaocheng New Material Technology Co., Ltd. Anhui Chaocheng New Material or/and a designated third party intend to acquire a total of 161,779,192 shares, accounting for 17.17% of the company's total share capital. After the transfer, Anhui Chaocheng New Material or/and the designated third party will become the controlling shareholder of the company. The company's actualThe controlling party will undergo corresponding changes. This agreement signed is only an intention agreement for stock transfer, and the uncertainty remains whether the formal agreement can be signed.7Grinm Advanced Materials: The main business has not changed, and the internal production and operation activities are in normal order. Grinm Advanced Materials issued a risk warning announcement stating that the company's main business is focused on strategic new materials in areas such as high-purity metal target materials, advanced rare earth materials, special infrared optical and optoelectronic materials, and biomaterials. The company divides its industry into four sectors: electromagnetic, optical, medical, and light. The electricity sector mainly includes businesses such as thin film materials for integrated circuits and precious metals, the magnetic sector includes businesses such as rare earth metals, magnetic materials, and magnets, the light sector includes businesses such as special infrared optics and luminescent materials, and the medical sector includes businesses such as biomaterials and oral medical devices. As of now, the company's main business has not changed, internal production and operation activities are in normal order, and there have been no major adjustments in the market environment and industry policies. 8Shanghai Sunglow Packaging Technology: Profitability of Jintaike may be affected by various factors, and there is uncertainty in the expected returns from this investment. Shanghai Sunglow Packaging Technology issued a stock trading risk warning announcement stating that the company's main business is to provide comprehensive packaging and printing services to enterprises in the fields of daily chemicals, food, and tobacco. As of now, the company and its subsidiaries are conducting normal production and operation activities, and there have been no major changes in the internal and external operating environments. The company's additional investment in Shenzhen Jintaike Semiconductor Co., Ltd. ("Jintaike") involves a new business area, and the profitability of Jintaike may be affected by various factors, leading to uncertainty in the expected returns from this investment. 9China National Nuclear Power: Controlling subsidiary plans to acquire 100% equity of Tailai Wind Power for 448 million RMB. China National Nuclear Power announced that its controlling subsidiary, CNNP Huineng, a wholly-owned subsidiary of CNNP Huineng in Heilongjiang province, plans to sign a share transfer agreement with Harbin Jiuzhou Group's subsidiary, Harbin Jiuzhou Energy Investment Co., Ltd., to acquire 100% equity of Tailai Wind Power Co., Ltd., for a price of 448 million RMB. The wind power projects involve an installed capacity of 100MW. 10Inly Media Co., Ltd: Controlling shareholder plans to agreement transfer less than 5.4% of shares. Inly Media Co., Ltd announced that its controlling shareholder, Luo Yanji, currently holds 99.2463 million shares in the company, accounting for 36.97% of the total shares. Luo Yanji plans to begin selling less than 14.5 million shares through agreement transfer starting from November 15, 2024, accounting for 5.40% of the total shares. The buyer of these shares has no affiliation with Luo Yanji. The implementation of this selling plan will not lead to a change in the company's controlling ownership. 11Jiangsu Yoke Technology: Completes investment in Shenyang Yichuang and asset acquisition, entering the semiconductor equipment cleaning service industry. Jiangsu Yoke Technology announced that it, together with Shenyang Advanced, has invested in Shenyang Yichuang and purchased 90% of the equity of SKC solmics Hong Kong Limited. Recently, Shenyang Yichuang signed a delivery agreement with SK enpulse, completing the delivery of the transaction. Through this acquisition, Shenyang Yichuang will indirectly hold 90% of the equity of Aisikai Xi Semiconductor Materials Co., Ltd., allowing the company to enter the semiconductor equipment cleaning service industry. This transaction will enhance the company's cooperation with the semiconductor industry, expand industry resources, strengthen core competitiveness, and support high-quality and sustainable development. 12Changzhou Shenli Electrical Machine Incorporated: Controlling shareholder plans share transfer, may lead to change in the company's controlling ownership. Changzhou Shenli Electrical Machine Incorporated announced that its controlling shareholder and actual controller, Chen Zhongwei, is planning a share transfer, which may result in a change in the company's controlling ownership. As a result, the company's stock will be suspended from trading starting on November 13, and the suspension is expected to last no more than two trading days. 13Jiangsu Dagang: Unusual stock trading fluctuations, no significant matters in planning stage. Jiangsu Dagang announced that the company's stock has experienced a deviation in closing price cumulative exceeding 20% over three consecutive trading days, indicating unusual stock trading fluctuations. The board of directors has verified the relevant matters, and there is no need to correct or supplement the information disclosed earlier by the company. There are no significant unpublicized information or matters in the planning stage that may have a significant impact on the company's stock trading price. There have been no major changes in the company's operations, internal and external operating environment, and there are no significant undisclosed matters regarding the company, controlling shareholder, or actual controller. The controlling shareholder and actual controller have not bought or sold company shares during the period of unusual stock fluctuations. 14Shanghai Research Institute of Building Sciences Group: Plans to acquire 100% equity of Shangzi Group for 488 million RMB. Shanghai Research Institute of Building Sciences Group announced its plan to acquire 100% equity of Shanghai Investment Consulting Group Co., Ltd., held by its affiliate, Shanghai Guosheng, for 488 million RMB using its own funds. Shanghai Investment Consulting Group covers services in think tanks and research.Evaluation review, consulting services, consulting services as the core business, including strategic decision consulting, fixed asset investment consulting, project construction consulting, etc. This acquisition will help to leverage the business synergy of "extending the chain, supplementing the chain, and strengthening the chain", further enhancing the company's position and market share in the consulting field.Operating Conditions Xinjiang Tianshan Animal Husbandry Bio-engineering: Livestock sales revenue in October increased by 16.64% year-on-year. Xiamen International Airport: Passenger throughput in October increased by 17.29% year-on-year. Reduction of Holdings Hangzhou Great Star Industrial: The controlling shareholder plans to reduce the company's stake by no more than 0.44%. Asia Cuanon Technology: The controlling shareholder and concerted action person reduce their shareholding proportion to 1%. Signing Large Orders Guangdong Songyang Recycle Resources: A holding subsidiary won the bid for the commercial site recruitment project of the station. Tianjin Benefo Tejing Electric: A holding subsidiary won a procurement project worth 16.56 million yuan. Long Yuan Construction Group: Jointly won a construction project worth 209 million yuan. This article is reprinted from "Tencent Stocks", edited by GMTEight: Jiang Yuanhua.