Tianfeng Securities Co.,Ltd. announced on February 13 that it received a prior notice of administrative penalty from the Hubei Bureau of the China Securities Regulatory Commission. The investigation found that the company allegedly violated laws by providing financing to its shareholder, Modern Group, failing to disclose related-party transactions with Modern Group and Optical Valley Financial Leasing as required, and having significant omissions in its annual reports. The regulator proposed to issue a warning to Tianfeng Securities and impose a fine of 15 million yuan, while also fining responsible individuals Yu Lei, Xu Xin, Zhai Chenxi, Wang Linjing, and Feng Lin. Yu Lei and Xu Xin are additionally proposed to face lifetime market entry bans.
Zongshen Power announced on February 13 its plan to swap its motorcycle engine business assets and liabilities, centered around equity in Chongqing Zongshen Engine Manufacturing Co., Ltd., with the general machinery business assets and liabilities held by Loncin Industrial, centered around equity in Chongqing New Loncin Machinery & Electric Co., Ltd. Any difference in the transaction value of the swapped assets will be settled in cash by one party to the other. This transaction aims to resolve同业竞争 issues between Zongshen Power and Loncin Industrial, promoting clearer and more specialized business development for both parties. The transaction is expected to constitute a major asset reorganization.
Zhangyue Technology announced on February 13 that its third-largest shareholder, Quantum Jump, reduced its holdings by 5.4125 million shares, or 1.23% of the company's total shares, through centralized bidding between November 4, 2025, and February 12, 2026. This included a reduction of 4.3125 million shares between February 9 and February 12, 2026. Post-reduction, Quantum Jump holds 21.9447 million shares, reducing its stake from 6.23% to 4.999978%.
Southwest Securities announced on February 13 its plan to conduct a private placement of A-shares to specific investors, including Chongqing Yufu Holding Group and its concert party Chongqing Water Environment Holding Group, to raise up to 6 billion yuan. After deducting issuance costs, all proceeds will be used to supplement the company's capital base, specifically for wealth management, investment banking, asset management, securities investment businesses, increasing investments in subsidiaries, IT and compliance/risk control system construction, debt repayment, and supplementing other working capital.
ST Quanwei announced on February 13 that, based on preliminary financial department calculations, its 2025 net profit is negative, revenue is below 100 million yuan, and year-end net assets are negative, potentially triggering conditions under Article 10.3.1 of the Shenzhen Stock Exchange ChiNext Listing Rules. If the audited financial data in the 2025 Annual Report is consistent with these preliminary calculations, the company's stock may face delisting risk warning designation, with its stock abbreviation changing from "ST Quanwei (300716)" to "*ST Quanwei (300716)".
ST Suning announced on February 13 that shareholder Hangzhou Haoyue Enterprise Management Co., Ltd., holding a 19.53% stake, plans to reduce its holdings by up to 230 million shares, not exceeding 2.5% of the company's total shares excluding those in repurchase-specific accounts, within three months starting 15 trading days after the disclosure date. This includes up to 92.0437 million shares (1%) via centralized bidding and up to 138 million shares (1.5%) via block trades.
Southwest Securities announced on February 13 its 2026 plan for a private placement of A-shares to raise up to 6 billion yuan, with all net proceeds after issuance costs dedicated to supplementing the company's capital base. The issuance will involve up to 1.994 billion shares to no more than 35 specific investors, including Yufu Holding and its concert party Chongqing Water Environment Group. Funds will be allocated to wealth management, investment banking, asset management, securities investment businesses, subsidiary investments, IT and compliance/risk control systems, debt repayment, and other working capital.
Chuangshi Technology announced on February 13 that its controlling shareholder and actual controller, Zhang Gengsheng, was convicted of unit bribery by the Shanghai Pudong New Area People's Court and sentenced to two years in prison with a two-year reprieve, plus a 300,000 yuan fine. Zhang holds no position in the company, and the ruling does not affect his shareholder rights. Fines have been paid personally and will not significantly impact company operations. This is a first-instance judgment not yet effective; final outcomes remain uncertain if Zhang appeals.
Guide Infrared announced on February 13 the signing of an 18.5142 billion yuan contract for a complete equipment system product. This follows a significant procurement agreement disclosed on July 15, 2025. The contract value represents 69.15% of the company's 2024 audited revenue and is expected to positively impact Q1 2026 performance and year-on-year growth.
Jialingjie announced on February 13 that its actual controller, Li Zhaoting, has been detained by Shijiazhuang Public Security Bureau, with related cases under investigation. Li holds no position in the company aside from being actual controller. Management operations remain normal, and the incident is not expected to significantly impact operations.
Zheng Yuan Zhi Hui announced on February 13 that its actual controller, Chen Jian, was convicted of securities market manipulation by Quzhou Intermediate People's Court in Zhejiang, receiving a three-year prison sentence with a 3.5-year reprieve and a 6.5 million yuan fine. Chen holds no director or senior management position. Company operations remain normal, and the ruling will not affect business activities.
Yongtai Technology announced on February 13 the termination of its plan to acquire a 25% stake in Shaowu Yongtai High-tech Materials from Contemporary Amperex Technology Co., Limited via share issuance and supporting fundraising, citing failure to reach agreement on transaction terms. The termination is not expected to significantly impact operations. Trading will resume on February 24.
Ingenic Semiconductor announced on February 13 that it received an立案告知书 from the China Securities Regulatory Commission regarding suspected information disclosure violations. Operations remain normal, and the company will cooperate with the investigation while fulfilling disclosure obligations.
**Performance Forecasts/Reports:** 1. SF Holding: January express logistics, supply chain, and international business revenue reached 26.86 billion yuan, up 2.22% year-on-year. 2. China Shenhua: January coal sales volume was 33.2 million tons, up 9.9% year-on-year. 3. China Southern Airlines: January passenger traffic volume decreased 2.86% year-on-year. 4. China Eastern Airlines: January passenger traffic volume decreased 1.03% year-on-year. 5. Central China Real Estate: January contracted sales revenue was 398 million yuan, down 31.1% year-on-year. 6. YTO Express: January express delivery revenue was 6.612 billion yuan, up 23.82% year-on-year. 7. Air China: January passenger traffic volume increased 3.0% year-on-year. 8. Tianma Technology: January eel harvest volume was approximately 1,001.07 tons. 9. Shanghai Airport: January passenger throughput at Pudong Airport was 7.0532 million, down 1.34% year-on-year. 10. Insta360: 2025 net profit was 964 million yuan, down 3.08% year-on-year.
**Share Repurchases & Holdings Changes:** 1. Valin Steel completed repurchases of 0.8109% of its shares. 2.控股股东 Shandong Commercial Group increased its stake in Inzone by 1.06%. 3. Changjiang Communication plans to sell up to 1 million shares of Yangtze Optical Fibre and Cable. 4. Focuslight Technology shareholders plan to reduce holdings by up to 2.33% collectively. 5.太平人寿 and太平资产 reduced their combined stake in Grandjoy to below 5%. 6.股东 Sanlin Wanye plans to reduce its stake in Leadcore Technology by up to 2.05%. 7.控股股东 Baihui Da plans to reduce its stake in Sinnet Technology by up to 3%. 8.控股股东 and concert parties reduced their stake in Grirem Advanced Materials by 3%. 9. Directors Song Hongxia and Deputy General Manager Shen Fuliang plan to reduce stakes in Zhaolong Interconnect by 0.0110% each. 10. ST Suning shareholder Hangzhou Haoyue plans to reduce holdings by up to 2.5%.
**Major Contracts:** 1. Offshore Oil Engineering consortium won a $4 billion "NFPS COMP5" project. 2. Anhui Construction Engineering consortium won a 4.798 billion yuan highway特许经营 project. 3. Guide Infrared signed an 18.5142 billion yuan complete equipment system contract. 4. ST Bocom subsidiary signed a 400 million yuan server procurement contract. 5. Binhai Energy signed an EPC contract for a porous carbon and silicon-carbon anode materials project.
**Other Announcements:** 1. 3SBio had its new drug application for Amu Qita Monoclonal Antibody Injection approved. 2.控股子公司 and孙公司 products from Zhongheng Group were selected for national centralized drug procurement续签.
