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【Trading Halts】 600721 Baihua Pharmaceutical (Rights Protection) 002713 *ST Dongyi 002822 *ST Zhongzhuang (Rights Protection)
【Trading Resumptions】 603608 Tanshop Fashion (Rights Protection) 300585 Aolian Electronics (Rights Protection) 301025 Dook Media 300125 *ST Lingda (Rights Protection) 000615 *ST Meigu 000430 *ST Zhanggu
【Major Events】 Aerospace Development: The revenue of its subsidiary, Aerospace Tianmu (Chongqing) Satellite Technology Co., Ltd., accounted for less than 1% of the company's total revenue in the first three quarters. Aerospace Development issued an announcement on abnormal stock trading fluctuations, stating that its stock's closing price had deviated by a cumulative value exceeding 20% over three consecutive trading days. The company is primarily focused on aerospace defense information technology, concentrating on its core responsibilities and main businesses, and continuously developing businesses such as Blue Force systems and equipment, and new-generation communication and command equipment. In the first three quarters of 2025, the company achieved operating revenue of 1.697 billion yuan, with the delivery of ships being a significant reason for the year-on-year increase. Its subsidiary, Aerospace Tianmu (Chongqing) Satellite Technology Co., Ltd., is mainly engaged in commercial low-orbit satellite operations and data application services, and its revenue for the first three quarters of 2025 accounted for less than 1% of the company's total operating revenue.
Shengtong Energy, with 11 consecutive limit-ups: If the stock price rises further in the future, the company may apply to the exchange for a trading halt and verification. Shengtong Energy issued a volatility announcement stating that if its stock price rises further, the company may apply to the Shenzhen Stock Exchange for a trading halt and verification, and investors participating in trading may face significant risks. Investors are urged to fully understand the risks of secondary market trading, effectively enhance risk awareness, invest rationally, and pay attention to investment risks.
Jiamei Packaging, with 8 consecutive limit-ups: If the stock price experiences further abnormal increases in the future, the company may apply for a trading halt and verification. Jiamei Packaging issued an announcement concerning abnormal fluctuations and severe abnormal fluctuations in the trading of its stock and convertible bonds. The announcement stated that the company's fundamentals have not undergone major changes, but the recent stock price has seriously deviated from the company's fundamental situation. Investors participating in trading may face significant risks. If the stock price experiences further abnormal increases, the company may apply for a trading halt and verification. Investors are kindly requested to invest rationally and pay attention to investment risks.
Fenglong股份: UBTECH ROBOTICS currently has no definite plan to change the company's main business or make major adjustments to it within the next 12 months. Fenglong股份 issued an announcement on abnormal stock trading fluctuations, stating that its stock's closing price had deviated by a cumulative value exceeding 20% over two consecutive trading days. UBTECH ROBOTICS currently has no definite plan to change the listed company's main business or make major adjustments to it within the next 12 months. It also has no definite plan for the sale, merger, joint venture, or cooperation involving the listed company and its subsidiaries' major assets and businesses within the next 12 months, nor a definite restructuring plan for the listed company to purchase or exchange major assets. In the next 36 months, UBTECH ROBOTICS has no plan or arrangement for a backdoor listing through the listed company; in the next 12 months, UBTECH ROBOTICS has no asset restructuring plan.
ST Huluwa (Rights Protection): The company and its Chairman Liu Jingping are under investigation by the CSRC for suspected violations of information disclosure laws and regulations. ST Huluwa announced that the company and its Chairman Liu Jingping received separate "Notices of Case Filing" from the China Securities Regulatory Commission (CSRC) on December 26. Due to suspected violations of information disclosure laws and regulations by the company and Chairman Liu Jingping, the CSRC has decided to initiate an investigation against the company and Liu Jingping. Currently, the company's various production and operational activities are proceeding normally and orderly. During the investigation period, the company will actively cooperate with the CSRC's related investigation work and strictly fulfill its information disclosure obligations in accordance with relevant laws, regulations, and regulatory requirements.
Egina Photovoltaic: The Quanjiao County photovoltaic project cannot proceed as scheduled; the company has received a hearing notice. Egina Photovoltaic announced that the company previously planned to invest in the construction of an annual 10GW photovoltaic cell, 10GW photovoltaic wafer slicing, and 10GW photovoltaic module project in Quanjiao County, Chuzhou City, Anhui Province. Due to a phase of structural capacity mismatch and weak market conditions in the photovoltaic industry in recent years, leading to a continuous decline in capacity utilization across the entire industry, the company's Chuzhou project has only completed the landing of 7.5GW capacity in the first phase of the photovoltaic cell project. The remaining cell capacity and the second and third phase projects for wafers and modules have not been constructed. Furthermore, affected by industry and market conditions, the company began to gradually suspend production at the Chuzhou base starting October 2024. The Quanjiao County Economic Development Zone Management Committee believes that the company failed to fully fulfill the commitments of the earlier relevant agreements, resulting in the project's inability to proceed on schedule and the failure to perform the earlier agreements. Consequently, it issued a hearing notice to the company, proposing to terminate the investment agreement and supplementary agreements, recover the 140 million yuan capital contribution, cease fulfilling subsequent capital contribution obligations, and hold the company liable for breaches including repayment of construction agency fees, rent, and capital occupation costs. Currently, the hearing procedure has not yet commenced. The outcome of the hearing and the final administrative decision are still uncertain, and the impact of this hearing on the company's current or future profits is uncertain.
Tongyu Communication: The company's stock price has risen significantly in the short term, posing risks of overheated market sentiment and irrational speculation. Tongyu Communication issued an announcement on abnormal stock trading fluctuations, stating that its stock's closing price had deviated by a cumulative value exceeding 20% over two consecutive trading days. The company's stock price has risen significantly in the short term, posing risks of overheated market sentiment and irrational speculation. The company solemnly reminds investors to pay attention to the risks of secondary market trading.
Junda股份: The relevant cooperation matters with Shangyi Optoelectronics will not have a significant impact on the company's current operating performance. Junda股份 issued an announcement on abnormal stock trading fluctuations, stating that the cumulative deviation in the closing price of its A-shares had reached 20% over three consecutive trading days. The "Strategic Cooperation Framework Agreement" signed with Shangyi Optoelectronics is only a preliminary cooperation intent and is not legally binding on the cooperation content. Specific matters such as joint product R&D, strategic equity investment, and industrial cooperation have not been finalized, and there is still some uncertainty regarding the relevant cooperation matters. During the performance of the agreement, changes, suspension, or termination may occur due to adjustments in either party's business plans or development strategies, or due to force majeure. The specific progress of cooperation still carries some uncertainty and will not have a significant impact on the company's current operating performance. The impact on long-term future performance remains uncertain.
Hengrui Pharmaceuticals: Signed an exclusive licensing agreement with HANSOH PHARMA. Hengrui Pharmaceuticals announced that the company signed an "Exclusive License Agreement" with HANSOH PHARMA, granting HANSOH PHARMA a paid license for the company's SHR6508 project. HANSOH PHARMA must pay the company an upfront payment of 30 million yuan. The company is eligible to receive regulatory milestone payments and commercial milestone payments related to the inclusion of the licensed product in the National Reimbursement Drug List, which can amount to up to 190 million yuan. The company also has the right to receive tiered sales royalties of up to 9% based on quarterly net sales. Additionally, the company's subsidiary, Chengdu Shengdi, signed a "Commercialization Service Framework Agreement" with HANSOH PHARMA's subsidiary, Haosen Pharmaceutical, commissioning Haosen Pharmaceutical to provide non-exclusive commercialization services for the company's paricalcitol soft capsule product.
Tongye Technology: Plans to acquire 91.69% of Silingke shares for 561 million yuan. Tongye Technology announced that it plans to acquire a combined 91.69% equity stake in Beijing Silingke Semiconductor Technology Co., Ltd. (referred to as "Silingke") from 22 transaction counterparties, including Huang Qiang and Siling Houde, by paying cash. The transaction price is 561 million yuan. Simultaneously, the company's controlling shareholder, actual controller, and parties acting in concert plan to transfer 6% of the company's shares to an enterprise controlled by the actual controller of Silingke, at a transfer price of 21.67 yuan per share. Silingke's main business is the research, development, design, and sales of power Internet of Things communication chips and related products. Its main products include grid high-speed power line carrier (HPLC) communication chips and modules, and grid high-speed dual-mode (HDC) communication chips and modules.
ST Lutong (Rights Protection): Plans to apply to the Shenzhen Stock Exchange to revoke the Other Risk Warning. ST Lutong announced that shareholder Wu Shichun, holding a 10.46% stake, has committed to voluntarily use his own funds to fully repay the principal and corresponding interest of the capital occupation on behalf of the company's actual controller and its related parties. On December 27, the company received a total of 10.2254 million yuan from Wu Shichun as repayment for the principal and interest of the capital occupation. The company will, in accordance with relevant regulations, appoint an accounting firm to verify the previous repayment situation by the company's actual controller and its related parties and this cash repayment by shareholder Wu Shichun. After obtaining the special audit report from the accounting firm, the company will apply to the Shenzhen Stock Exchange to revoke the Other Risk Warning.
【Major Contract Awards】 Wangfujing: Wins bid for Lot 02 of the Beijing Capital International Airport duty-free project. Wangfujing announced that the company received the "Notice of Winning Bid" on December 26, 2025, confirming the company as the winning bidder for Lot 02 of the Beijing Capital International Airport duty-free project. The guaranteed minimum operating fee for the first year is 113 million yuan; the sales commission rate for the first year is 5%; the operating period is from the start date stipulated in the contract until February 10, 2034 (not exceeding 8 years). If a formal contract is signed for this project and it is implemented normally, it will mark the company's first deployment in a domestic super-large international hub airport, which will help increase the scale and market share of the company's duty-free business.
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