A-share announcement highlights | 11 days 7 boards Huitong Construction Group (603176.SH) warns of risks

Focus of Today 1. Guangshen Railway: Signs cooperative agreement with Guangzhou East Station renovation project with a total investment of approximately 16.66 billion yuan. Guangshen Railway announced that on July 25, 2025, the company signed a "Cooperative Agreement for the Guangzhou East Station Renovation Project" with the Guangzhou Municipal People's Government and China Railway Guangzhou Group Co., Ltd. The total investment in this project is approximately 16.66 billion yuan, of which about 2.228 billion yuan is for additional compensation investment, and the project company investment is about 14.432 billion yuan. The company will calculate its share in the project company based on the engineering investment of approximately 5.209 billion yuan corresponding to the scale of existing assets that still require functionality after the renovation. This project will not result in a change in the company's main business or scope of operations, and will not affect the company's business independence. 2. Fushun Special Steel: Jin Cheng Shazhou plans to make a tender offer to purchase 5% of the company's shares at 5.6 yuan per share. Fushun Special Steel announced that Jin Cheng Shazhou, a subsidiary of Ningbo Meishan Free Trade Port Area, plans to issue a partial tender offer to all shareholders of Fushun Special Steel other than itself and its concerted action parties at a price of 5.6 yuan per share, with a total purchase of 98.605 million shares, accounting for 5% of the total share capital of the company. After the completion of this tender offer, Jin Cheng Shazhou and its concerted action parties may hold a maximum of 690 million shares of the company, accounting for 34.99% of the total number of issued shares. This tender offer is not intended to terminate the company's listing status, and the funds for the purchase will come from its own funds and self-raised funds. 3. China Tourism Group Duty Free Corporation: Net profit in the first half of the year was 2.6 billion yuan, a year-on-year decrease of 20.81%. China Tourism Group Duty Free Corporation announced that the total operating revenue in the first half of 2025 was 28.151 billion yuan, a year-on-year decrease of 9.96%; the net profit attributable to shareholders of listed companies was 2.6 billion yuan, a year-on-year decrease of 20.81%. During the reporting period, duty-free sales on Hainan Island showed a stable trend, the company's dominant position in the Hainan market was further consolidated, and the market share increased by nearly 1 percentage point year-on-year. The company's operating efficiency continues to improve, with inventory turnover increasing by 10% year-on-year. 4. Xizang GaoZheng Explosive Co., Ltd: Controlling shareholder Zangjian Group reduced its holding by 2.76 million shares on July 23 to 24, reducing its shareholding to 57.6%. Xizang GaoZheng Explosive Co., Ltd announced that the controlling shareholder, Zangjian Group, reduced its holdings by 2.76 million shares through centralized bidding from July 23 to 24, reducing its shareholding from 58.60% to 57.60%. This reduction did not result in a change in the company's control, and had no significant impact on its ongoing operations. The reduction was consistent with the previously disclosed reduction plan and did not involve any violations. 5. Sanfeng Intelligent Group: Director Chen Wei of the company was investigated and placed under custody by the supervisory authority. Sanfeng Intelligent Group announced that it received a work call from the Rui'an Municipal Supervisory Commission notifying the company that Director Chen Wei was being investigated and placed under custody by the supervisory authority. As of the announcement date, the company's various production and business activities are proceeding normally, and this matter will not have a significant impact on the operation of the company's board of directors and its daily business activities. 6. Fujian Cosunter Pharmaceutical: The first subject of the phase III clinical trial of the innovative drug Nai Ru Ke Wei GST-HG141 for hepatitis B treatment was successfully enrolled. Fujian Cosunter Pharmaceutical announced that the phase III clinical trial of the innovative drug Nai Ru Ke Wei GST-HG141 for hepatitis B treatment being developed by its wholly-owned subsidiary Fujian Guangsheng Zhonglin Bio-technology Co., Ltd. successfully enrolled the first subject on July 25, 2025 at Shulan (Hangzhou) Hospital. GST-HG141 is a new type of hepatitis B core protein/capsid regulator and belongs to a new class of anti-hepatitis B drugs with a new mechanism. The company owns its global independent intellectual property rights. So far, there are no similar products available on the market worldwide. 7. Western Region Gold: Plans to acquire 100% equity of Xinjiang Meisheng for 1.655 billion yuan. Western Region Gold announced that the company plans to acquire 100% equity of Xinjiang Meisheng, held by Xinjiang Nonferrous, with its own funds and loans. The transaction price is 1.655 billion yuan, which represents a premium of 1421.66% compared to the book value. Xinjiang Nonferrous is a controlling shareholder of the company, and this transaction constitutes a related party transaction. Xinjiang Meisheng owns the Katbabasu Gold-Copper Polymetallic Mine Project in Xinyuan County, which is currently in the stage of mine development and construction. The company sees good prospects for the development of this mine project and aims to solve potential competition issues through the acquisition. After the completion of this related party transaction, it will increase the total assets and liabilities of the consolidated financial statements of the listed company, and the profit of Xinjiang Meisheng will have a certain impact on the net profit attributable to shareholders of the listed company. 8. Huaqin Technology: Shareholders with more than 5% ownership plan to reduce their holdings by a total of no more than 4% of the company's shares. Huaqin Technology announced that shareholders Hainan Qinyuan, Hainan Chuangjian, Hainan Ruansheng, Hainan Huaxiao, and Hainan Mozhi, each holding more than 5% of the company's shares, plan to reduce their holdings of the company's shares through centralized bidding and block trades within three months after 15 trading days from the disclosure of this reduction plan. The total number of shares held will not exceed 40.6302 million shares, which is equivalent to 4.00% of the company's total share capital. The above-mentioned shareholders are all employee shareholding platforms of the company, and the reduction price will be determined based on the market price at the time of implementation. 9. Suzhou Dongshan Precision Manufacturing: Subsidiary plans to invest up to 1 billion US dollars to build a high-end printed circuit board project. Suzhou Dongshan Precision Manufacturing announced that its wholly-owned subsidiary, Super Yide Group (Hong Kong) Co., Ltd. or its subsidiaries, plans to invest in the construction of a high-end printed circuit board project with an investment amount expected to be up to 1 billion US dollars. The funds will be mainly used to upgrade existing production capacity and build new production capacity. This investment will further enhance the company's high-end PCB production capacity to meet the medium- and long-term demand for high-end PCB capacity in emerging scenarios such as high-speed computing servers and artificial intelligence. 10. Zhejiang Entive Smart Kitchen Appliance: Plans to establish a private equity fund in collaboration with professional institutions focusing on artificial intelligence, computing power, and other areas. Zhejiang Entive Smart Kitchen Appliance announced that the company plans to establish Shanghai De Shuyun Private Equity Fund Partnership Enterprise (Limited Partnership) in collaboration with Lloyd's Private Equity Fund Management Co., Ltd. and Tianjin Zhonghuicheng Intelligent Technology Co., Ltd. The total subscribed capital of the partnership enterprise is 2 billion yuan, of which the company and its affiliated parties will subscribe for 998 million yuan. The private equity fund will focus on funds in the fields of artificial intelligence, big data, computing power, IDC, information industry, advanced manufacturing, and technology-based innovation and entrepreneurship. 11. Vanfund Urban Investment & Development: Under investigation by the China Securities Regulatory Commission for suspected violations of information disclosure laws and regulations. Vanfund Urban Investment & Development announced that the company has received a "Filing Notice" issued by the China Securities Regulatory Commission stating that the company is under investigation for suspected violations of information disclosure laws and regulations. Currently, the company's operations are normal and will actively cooperate with the work of the China Securities Regulatory Commission and continue to monitor the progress of the above-mentioned matters, strictly fulfilling its information disclosure obligations. 12. Henan Rebecca Hair Products: Company and controlling shareholder under investigation by the China Securities Regulatory Commission for suspected violations of information disclosure laws and regulations. Henan Rebecca Hair Products announced that the company and the controlling shareholder, Henan Rebecca Hair Products Holding Co., Ltd., recently received a "Filing Notice" from the China Securities Regulatory Commission stating that they are under investigation for suspected violations of information disclosure laws and regulations. During the investigation period, the company and its controlling shareholder will actively cooperate with the investigation work and strictly fulfill their information disclosure obligations. Currently, the company's production, operation, and business operations are normal. 13. Jinyu Bio-Technology: Subsidiary obtains clinical trial approval for feline infectious peritonitis mRNA vaccine. Jinyu Bio-Technology announced that its wholly-owned subsidiary Jinyu Baoling has received the clinical trial approval for the feline infectious peritonitis mRNA vaccine from the Ministry of Agriculture and Rural Affairs. The vaccine, jointly developed by Jinyu Baoling and Beijing Hesheng Gene Technology Co., Ltd., aims to address the current lack of commercial vaccines available. The project has accumulated research and development investment of approximately 6.2 million yuan. The company has become the first company in the country to obtain clinical trial approval for a feline infectious peritonitis mRNA vaccine for animal use. Due to the long research and development cycle of animal vaccines, there is uncertainty in the process. 14. Tianjin Ringpu Bio-Technology: Receives the first clinical trial approval for an mRNA vaccine for economic animals in China. Tianjin Ringpu Bio-Technology announced that the company recently received the clinical trial approval for the porcine epidemic diarrhea virus mRNA vaccine (RPS1903) from the Ministry of Agriculture and Rural Affairs. This vaccine is the first mRNA vaccine approved for economic animals in China, marking the company's possession of a mature platform for the development of animal mRNA vaccines, which will help broaden its product line and development space. However, it should be noted that after obtaining clinical trial approval, animal biological products need to complete clinical trials, apply for registration, and obtain approval from the Ministry of Agriculture and Rural Affairs before they can be marketed for sale, and there is a certain degree of uncertainty in the research and development and market launch process. 15. Shengke Communication: Major Fund plans to reduce its holdings by no more than 3% of the company's shares. Shengke Communication announced that the National Integrated Circuit Industry Investment Fund Co., Ltd. plans to reduce its shareholding by no more than 12.3 million shares, accounting for 3.00% of the total share capital of the company, through centralized bidding or block trading. 16. Shanghai SK Petroleum & Chemical Equipment Corporation: Wholly-owned subsidiary increases capital by 15 million yuan to participate in the acquisition of a stake in Shandong Future Siasun Robot & Automation, a deep-sea operation-grade Siasun Robot & Automation enterprise. Shanghai SK Petroleum & Chemical Equipment Corporation announced that its wholly-owned subsidiary Shengkai Energy Technology has signed an "Agreement on Equity Increase" with Shandong Future Siasun Robot & Automation Co., Ltd. and its existing shareholders. Shengkai Energy Technology will increase its capital by 15 million yuan in cash to the target company, of which 144.8 thousand yuan will be used as the target company's new registered capital, and the remaining part will enter the target company's capital reserve fund, corresponding to 1.0990% of the target company's equity after the completion of this transaction. Future Siasun Robot & Automation is a high-quality enterprise in China's deep-sea operation-grade Siasun Robot & Automation (ROV) and underwater heavy-duty operation system, with mature commercial cases in 3000-meter-level deep-sea oil and gas engineering, offshore wind power, deep-sea mining, and other scenarios. This capital increase is a strategic move by Shanghai SK Petroleum & Chemical Equipment Corporation to lay out the high-end equipment field in the deep sea, injecting strong momentum for the company's research and development of marine oil and gas equipment and engineering services. 17. Capital: Plans to issue H shares and list on the Hong Kong Stock Exchange. Capital announced that at the 14th meeting of the 2nd Board of Directors on July 25, 2025, it approved a related resolution concerning the issuance of H shares and listing on the Main Board of the Hong Kong Stock Exchange. The company plans to issue overseas-listed shares (H shares) and apply for listing on the Main Board of the Hong Kong Stock Exchange to further enhance its capital strength and comprehensive competitiveness, integrate G-RESOURCES, and enhance its international influence. The company will take into account the interests of existing shareholders and the domestic and international capital markets, and choose an appropriate timing and issuance window to complete this issuance and listing within the effective period of the shareholder resolution. However, there is significant uncertainty as to whether this issuance and listing will pass through the review, filing, and approval process and be ultimately implemented. Operational Performance 1. Western Mining: Net profit in the first half of the year was 1.869 billion yuan, a year-on-year increase of 15%. 2. Beijing Certificate Authority: Expected pre-loss of 80-96 million yuan in the first half of the year. Risk Reminder for Stocks on a Continuous Trading Freeze Huitong Construction Group: 7 consecutive trading days of suspension; the company does not participate in the construction of the Yarlung Tsangpo River downstream hydropower station. Buybacks & Share Redemptions 1. Guangxi Liuyao Group: Plans to repurchase company shares for 100 million to 200 million yuan. 2. Red Star Macalline Group Corporation: Shareholders plan to collectively reduce their holdings by no more than 3.0011% of the company's shares. Major Contracts 1. China Communications Construction: New contract amount in the first half of the year was 991.054 billion yuan, a year-on-year increase of 3.14%. 2. Zhejiang Communications Technology: Subsidiary awarded two projects with a total value exceeding 34 billion yuan. 3. Feilong Auto Components: Received a specific notification from SAIC Passenger Car Division, with expected sales revenue exceeding 400 million yuan over the product lifecycle. This article is a reprint from "Tencent Stock Selection", GMTEight editing: Xu Wenqiang.