1. Haike Xinyuan announced the signing of a long-term cooperation agreement with Shenzhen BYD Lithium Battery Co., Ltd. Under the three-year agreement, Haike Xinyuan will supply at least 100,000 tons annually of the contracted products via pipeline transmission to BYD's Hubei lithium battery project. The actual purchase quantity will be determined by subsequent agreements. Haike Xinyuan guarantees its production capacity can meet BYD's Hubei project demand for at least 100,000 tons per year of four specific solvents: dimethyl carbonate (DMC), ethylene carbonate (EC), ethyl methyl carbonate (EMC), and diethyl carbonate (DEC).
2. Effort announced it is planning to acquire equity in Shanghai Shengpu Fluid Equipment Co., Ltd. through a combination of share issuance and cash payment. This transaction is not expected to constitute a major asset reorganization nor a connected transaction. The company's shares will be suspended from trading starting January 27, 2026, for an expected period not exceeding 10 trading days. Founded in 2007, Shengpu specializes in the R&D, production, and sales of precision fluid control equipment and core components, including automated dispensing machines and coating equipment. Notably, Shengpu withdrew its application for a ChiNext IPO in September 2024, after having passed the listing committee review in January 2023.
3. Anhui Conch Cement announced its 2026 entrusted wealth management plan. The company and its subsidiaries plan to utilize temporarily idle自有资金 (own funds) to purchase financial products, with a maximum daily balance of no more than RMB 30 billion for structured deposits and no more than RMB 20 billion for bank wealth management products, income certificate products, and asset management plans combined. Actual purchases will be made selectively based on the safety and yield of the underlying assets of different products.
4. Zijin Mining Group announced that its controlled subsidiary, Zijing Mining International Limited, intends to acquire all issued common shares of Allied Gold Corporation, listed on both the Toronto and New York Stock Exchanges, at a price of C$44 per share. The total acquisition consideration is approximately C$5.5 billion (roughly RMB 28 billion). Allied Gold's core assets include the producing Sadiola gold mine in Mali, the Côte d'Ivoire gold complex (containing the Bonikro and Agbaou mines), and the Kurmuk gold mine in Ethiopia, scheduled for commissioning in the second half of 2026. As of end-2024, Allied Gold held gold resources of 533 tonnes with an average grade of 1.48 g/t. It produced 10.7 tonnes and 11.1 tonnes of gold in 2023 and 2024, respectively, and forecasts 2025 production of 11.7-12.4 tonnes. With the Sadiola expansion and Kurmuk project commissioning, production is projected to increase to 25 tonnes by 2029.
**Performance Forecasts/Earnings Previews** 1. 3SBio Inc.: Estimates 2025 net profit of approximately RMB 2.9 billion, a year-on-year increase of 311.35%; Q4 net profit is estimated at RMB 2.501 billion, up 1097% quarter-on-quarter. 2. Do-Fluoride New Materials: Forecasts 2025 net profit between RMB 200 million and RMB 280 million, compared to a loss of RMB 308 million in the prior year. 3. Chuanzhong Technology: Expects 2025 net profit of RMB 265 million to RMB 290 million, a year-on-year increase of 208.86% to 238.00%. 4. China Rare Earth: Anticipates 2025 net profit of RMB 143 million to RMB 185 million, turning a profit compared to a loss last year. 5. Puramade: Projects 2025 net profit of RMB 205 million, a decrease of approximately 29.89% year-on-year. 6. Litong Electronics: Forecasts 2025 net profit between RMB 270 million and RMB 330 million, representing a year-on-year surge of 996.83% to 1240.57%.
**Trading Halt Risk Warnings** 1. 5-day limit-up Baiyin Nonferrous: Revenue from silver products accounts for a relatively low proportion of total operating income. 2. 2-day limit-up Yuguang Gold & Lead: The price of the company's silver product has risen significantly recently; future sustainability of these high prices is uncertain. 3. 2-day limit-up Tongling Nonferrous Metals Group: The official commissioning date for the Phase II project of the Mirador copper mine remains uncertain, and it is expected to impact 2026 operating performance. 4. Two consecutive 20% limit-ups Ruihuatai: Revenue from the aerospace sector accounted for less than 1% in 2025.
**Share Buybacks & Stake Changes** 1. Shanghai Yahong: Shareholder Xie Yaming plans to reduce his stake by no more than 3%. 2. Sun Cable: Shareholder Yili Group intends to reduce its holding by no more than 3%. 3. Sunstone Bio: Shareholder Tiantai Wanjian Investment plans to减持 (reduce its stake) by no more than 3%. 4. Jianlong Weinano: Shareholder Shen Yunlong plans to减持 (reduce its stake) by no more than 2%. 5. Dehong股份 (Dehong Shares): Board Secretary Zhu Guoqiang intends to减持 (reduce his stake) by no more than 0.0935%.
**Major Contract Awards** 1. Changyuan Donggu: A subsidiary received a project nomination letter, with the total lifecycle sales value estimated between RMB 2.2 billion and RMB 3 billion. 2. Jinfei Kaida: Received a project nomination notice from an internationally renowned automobile manufacturer. 3. Shanke Intelligent: Won a bid for a smart water platform development technical service project valued at RMB 12.1095 million.
**Other Announcements** 1. Olon Biopharma: Received a GMP Certificate of Compliance from the Philippines, which is significant for further expanding into the Southeast Asian pharmaceutical market. 2. Topway Video: Signed a strategic cooperation agreement with Zhongzi Wang'an. 3. Kangzhi Pharmaceutical: The company's product, Levocetirizine Hydrochloride Granules, was selected in the Hebei-led Joint Drug Procurement for Beijing-Tianjin-Hebei-Jiangxi.
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