To The Moon

Today's highlights: 1. Suzhou Dongshan Precision Manufacturing Co., Ltd. (002384.SZ) announced that its H shares will be listed on October 28, with an offering price of HK$86.80 and net proceeds of approximately HK$9.717 billion.

The company's global offering of H shares totals 113,783,200 shares (before exercise of the over-allotment option), of which 5,905,500 shares are offered in the Hong Kong public offering, accounting for approximately 5.19% of the total global offering, and 107,877,700 shares are offered in the international offering, accounting for approximately 94.81%. Based on the H share offering price of HK$86.80 per share, after deducting underwriting commissions and other estimated expenses, and assuming the over-allotment option is not exercised, the estimated net proceeds from the global offering are approximately HK$9.717 billion. These H shares were listed on the Main Board of the Hong Kong Stock Exchange on October 28, 2026, with the Chinese short name "Dongshan Precision" and stock code 02384. After the completion of the offering, the company's A shares of 1,831,607,532 shares will see their shareholding ratio decrease to 94.15%, while the H shares of 113,783,200 shares will account for 5.85% (both assuming the over-allotment option is not exercised).

2. Junshi Biosciences (688180.SH) announced that the indication of toripalimab for urothelial carcinoma has been converted from conditional approval to regular approval.

The company received a Drug Supplementary Application Approval Notice issued by the National Medical Products Administration, approving the conversion of the indication of toripalimab injection (trade name: Tuoyi) as a monotherapy for locally advanced or metastatic urothelial carcinoma that has failed platinum-containing chemotherapy, including disease progression within 12 months of neoadjuvant or adjuvant chemotherapy, from conditional approval to regular approval. This application is a supplementary application, with acceptance numbers CYSB2600232 and CYSB2600233, and notice numbers 2026B07469 and 2026B07470. The marketing authorization holder is the company itself.

3. *ST Zhuoran (688121.SH) announced that its market value has been below RMB 300 million for 20 consecutive trading days, triggering mandatory delisting under trading-related rules, and its shares will be suspended from trading starting October 29.

As of October 28, 2026, the company's stock closing price was RMB 0.40 per share and total market value was RMB 93.45 million, with daily closing market value below RMB 300 million for 20 consecutive trading days, triggering the delisting circumstances stipulated in Article 12.3.1, Paragraph 1, Item 3 of the Science and Technology Innovation Board Stock Listing Rules. The company's shares will be suspended from trading starting from the market open on October 29, 2026. Shares of companies subject to mandatory delisting under trading-related rules will not enter the delisting consolidation period, and the Shanghai Stock Exchange will delist the shares within 5 trading days after the date of the announcement of the delisting decision. The company also received a prior notice of delisting from the Shanghai Stock Exchange and a regulatory work letter on matters related to the delisting on the same day. If the company applies for a hearing, it should submit a written application within 5 trading days after receiving the notice.

4. Digital China (000034.SZ) announced that its subsidiary signed a RMB 870 million computing power server procurement contract.

Its controlled subsidiary Beijing Shenzhou Kuntai Information Technology Co., Ltd. signed a Procurement Contract with an information technology company for the sale of Shenzhou Kuntai servers and supporting products and services for the 950DT computing power project, with a total contract amount including tax of RMB 870,184,698.48. Due to confidentiality requirements of the contract, the company will not disclose specific information about the counterparty, and the two parties are not related. In the three fiscal years from 2023 to 2025, the company and its subsidiaries sold business to the counterparty with a tax-inclusive amount of RMB 11.1673 million, and from January 1 to September 30, 2026, the amount was RMB 2.0552 million.

5. Xingye Yinxi (000426.SZ) announced that the transfer of 2,850,000 shares from judicial auction has been completed, and Shannan Antimony Gold remains the largest shareholder of Weiling Shares with 13.33%.

Its wholly-owned subsidiary Tibet Shannan Antimony Gold Resources Co., Ltd. previously won the bid through judicial auction at the Shenzhen Intermediate People's Court for 2,850,000 shares of Weiling Shares held by Shanghai Lingyi New Materials Co., Ltd., and the transfer registration of these shares has been completed at the Shenzhen branch of the China Securities Depository and Clearing Corporation. Combined with the partial tender offer of 15,936,390 shares (6.12%), centralized bidding increase of 5,961,000 shares (2.29%), and the completion of the transfer of all judicial auction shares, Shannan Antimony Gold holds a total of 34,747,390 shares of Weiling Shares, accounting for 13.33% of its total share capital, and remains the largest shareholder. Shannan Antimony Gold has not yet obtained control and plans to re-elect board members at Weiling Shares' fourth extraordinary general meeting of shareholders in 2026 on November 4. If the proposal is approved, it will obtain control.

6. Wandekai (301309.SZ) announced that it plans to acquire 51% equity of Zengrui Zhikong for RMB 171 million in cash, with the target committing a total net profit of RMB 104 million over three years.

The company signed an Acquisition Agreement with Suzhou Orlando Precision Manufacturing Co., Ltd., Li Ronghu, and Suzhou Chenrong Intelligent Technology Co., Ltd., planning to acquire 51% equity of Jiangsu Zengrui Zhikong Technology Co., Ltd. by paying cash, with a total transaction consideration of RMB 171.36 million. After the transaction is completed, the target company will become a controlled subsidiary of the company and be included in the consolidated financial statements. It does not constitute a major asset restructuring or a restructuring listing. The performance commitment parties promise that the target company's audited after-tax net profit for 2026, 2027, and 2028 will be no less than RMB 28 million, RMB 33 million, and RMB 43 million, respectively.

Operating performance: 1. Shanxi Fenjiu (600809.SH) announced that its sales revenue for the first three quarters was RMB 28.227 billion, a year-on-year decrease of 13.99%.

Fenjiu sales revenue was RMB 27.817 billion, a year-on-year decrease of 13.54%.

2. China Railway Hi-Tech (600528.SH) announced that its newly signed contract amount for January to September was RMB 29.797 billion, a year-on-year decrease of 6.71%.

The turnout business newly signed contracts worth RMB 4.482 billion, a year-on-year increase of 20.43%.

Buybacks & increases/decreases in holdings: 1. Wuliangye (000858.SZ) announced cumulative buybacks of RMB 1.601 billion, accounting for 0.5604% of total share capital.

The transaction price range was RMB 70.19 per share to RMB 85.25 per share.

2. Gree Electric (000651.SZ) announced cumulative buybacks of RMB 2.325 billion, accounting for 1.1064% of total share capital.

The transaction price range was RMB 36.06 per share to RMB 40.10 per share.

3. Century Huatong (002602.SZ) announced a planned buyback of RMB 300 million to RMB 600 million, with a price cap of RMB 20.40 per share.

The repurchased shares are intended to be used for equity incentives or employee stock ownership plans.

4. Ningxia Building Materials (600449.SH) announced cumulative buybacks accounting for 2.0912% of total share capital, with RMB 120 million already paid.

The buyback price range was RMB 11.14 per share to RMB 13.18 per share.

5. Yankuang Energy (600188.SH) announced that its controlling shareholder cumulatively increased its holdings by RMB 50.0083 million, with a planned scale of RMB 100 million to RMB 200 million.

From October 26 to 28, it increased its holdings by 706,900 shares, worth RMB 12.7637 million.

Major contracts: 1. Juhua Technology (300360.SH) announced that it won the bid for China Southern Power Grid's metering equipment framework tender, with an amount of RMB 242 million.

It won 7 packages in total, accounting for 14.32% of its 2025 operating revenue.

2. Kejie Intelligent (688455.SH) announced that it won part of the bid for a chemical formation and capacity grading logistics warehousing project worth approximately RMB 200 million.

The tenderer is a well-known new energy company in East China, and information is exempted from disclosure.

3. Lihe Micro (688589.SH) announced that it won the bid for China Southern Power Grid's second batch of metering equipment framework tender, with an amount of RMB 37.8628 million.

The winning bid target is broadband dual-mode communication modules.