Latest update on major events announcements of Shanghai and Shenzhen listed companies on the evening of February 25

Shanghai and Shenzhen listed companies released company announcements on the evening of February 25. Here is a summary of the important notices.

【Major Events】

Zhiyang Innovation: Signs Strategic Investment Intent Agreement with Lingming Photonics; Stock to Resume Trading Tomorrow

Zhiyang Innovation (688191) announced on February 25 that it has signed a strategic investment intent agreement with Lingming Photonics, agreeing to terminate the company’s previous plans to acquire the target company through issuance of RMB common stock and/or convertible bonds, cash (if any), etc. Meanwhile, the company plans to increase capital and purchase part of the target company’s equity (if any) with cash, with an initial investment of approximately 300 million yuan, and a post-investment shareholding ratio of about 9.09%–10%. After this investment, the company is expected to become a significant shareholder holding over 9% of the target company, with rights to nominate a director candidate and veto the overall sale of the target. The target company is a domestic provider of high-quality dToF (Direct Time of Flight) sensor chips and system solutions, dedicated to helping smart terminals, LIDAR, autonomous driving, and consumer electronics achieve more efficient and precise machine vision 3D perception. The company’s stock will resume trading from the open on February 26, 2026.

ST Xinhua Jin: Company and Actual Controller Under Investigation by CSRC for Suspected Information Disclosure Violations

ST Xinhua Jin (600735) announced on February 25 that it received a notice of investigation from the China Securities Regulatory Commission (CSRC) on the same day. The investigation is due to suspected violations of information disclosure laws and regulations. The company’s actual controller, Zhang Jianhua, is also under investigation for suspected information disclosure violations. Currently, the company’s operations and business are proceeding normally.

SMIC: Application for Share Issuance to Purchase Assets Accepted by SSE

SMIC (688981) announced on February 25 that it received a notice from the Shanghai Stock Exchange (SSE) confirming acceptance of its application for issuing shares to purchase assets. The SSE verified that the application documents are complete and in proper form, and decided to accept and review the application. Previously, the company planned to issue shares to China Integrated Circuit Industry Investment Fund Co., Ltd., Beijing Integrated Circuit Manufacturing and Equipment Equity Investment Center (Limited Partnership), Beijing Yizhuang International Investment Development Co., Ltd., Zhongguancun Development Group Co., Ltd., and Beijing Industrial Development Investment Management Co., Ltd. to acquire a 49% stake in SMIC North China Integrated Circuit Manufacturing (Beijing) Co., Ltd.

Bona Film: Recent Business Operations Normal, No Major External or Internal Changes

Bona Film (001330) issued a notice on abnormal stock trading fluctuations on February 25, stating that recent operations are normal, and there have been no major changes in the internal or external environment. After verification, the company, its controlling shareholder, and actual controller have no undisclosed major matters or ongoing planning of major events.

Xinyish股份: Antimony Market Price Rise Expected to Positively Impact Performance

Xinyish股份 (002049) stated during institutional research on February 25 that its Dulong mine has abundant antimony resources, the largest in the world, and is the largest primary antimony producer in China. As of December 31, 2024, the company’s antimony metal reserves are 4,821 tons, with production of 101.62 tons in the first three quarters of 2025. Antimony products are a major product, and rising market prices are expected to have a positive effect on performance.

Shandong Haihua: Plans to Invest 4.837 Billion Yuan in Resource and Energy-Based Soda Ash Upgrading and Energy Saving Environmental Protection Renovation

Shandong Haihua (000822) announced on February 25 that it will invest 4.837 billion yuan to implement a resource and energy-based soda ash quality and efficiency improvement, energy-saving, and environmental protection renovation project, with a construction period of 24 months.

FANUC: Controlling Shareholder Planning Share Transfer; Stock to Halt Trading Tomorrow

FANUC (603966) announced on February 25 that its controlling shareholder and actual controller are planning a share transfer, which may lead to a change in control. The stock will be suspended from trading starting February 26, 2026, for no more than 2 trading days.

ST Yan Shi: Risk of Possible Delisting

*ST Yan Shi (600696) issued a risk warning on February 25, stating that the stock has experienced significant fluctuations recently, including a daily limit on February 25. The company has disclosed multiple notices regarding abnormal trading, clarifications, and delisting risks. The auditor has not yet obtained sufficient audit evidence to confirm the elimination of issues that could lead to a non-unqualified audit opinion for 2024. The company is at risk of delisting due to unqualified audit opinions related to financials, net losses, and revenue below 300 million yuan, as well as judicial freezes of major shareholders and criminal measures against the actual controller.

Sifutian: Parent Company Anhui Meidaren Resumes Production; Steady Recovery of Photovoltaic Cell Supply

Sifutian (603028) announced on February 25 that its parent company Anhui Meidaren, which had temporarily halted production since January 30, 2026, has received approval to resume operations. The production line’s restart will steadily restore normal supply of photovoltaic cells, enhancing stability and efficiency.

Huilong New Materials: Planning Control Rights Change; Stock to Halt Trading

Huilong New Materials (301057) announced on February 25 that its controlling shareholder and actual controller Shen Shunhua is planning a major matter that may lead to a change in control. The stock will be suspended from trading from February 26, 2026, for up to 2 days. Details are under negotiation and subject to future agreements.

Jianan Guoji: Subsidiary Re-Approved as High-Tech Enterprise

Jianan Guoji (002636) announced on February 25 that its wholly owned subsidiary, Jinan Guoji Technology, received the High-Tech Enterprise Certificate from Zhejiang Provincial Department of Economy and Information Technology, Zhejiang Provincial Department of Finance, and Zhejiang Taxation Bureau, valid for three years from December 19, 2025. The company will enjoy preferential policies for high-tech enterprises for three consecutive years (2025–2027), taxed at 15%.

Chuanjinnuo: Market Rumors of US Listing of Phosphorus and Glyphosate; Actual Impact Unclear

Chuanjinnuo (300505) announced on February 25 that its stock price has deviated by over 34.18% over two days (February 24–25), indicating abnormal trading. Market rumors suggest the US may classify phosphorus and glyphosate as national security priorities under the Defense Production Act, but the actual impact on the company remains unclear. Raw material prices, especially sulfur, are high, potentially increasing costs and pressure on performance.

Lingyi Intelligent Manufacturing: Planning Co-Investment in Chaoquan Fund; Focus on Advanced Equipment Manufacturing

Lingyi (002600) announced on February 25 that it has signed a partnership agreement with Ningbo Xuanyi, Pinghu Minghu Youxuan Venture Capital, Jiaxing Guolian Huixuan No. 3 Equity Investment Partnership, and Suzhou Maiwei Technology to jointly invest in Chaoquan Fund. The company will contribute 20 million yuan, representing 21.98% of the total committed capital of 91 million yuan, but will not participate in investment decision-making. The fund mainly invests in advanced equipment manufacturing enterprises.

Songseng Shares: Establishing a Joint Venture to Develop Digital Energy Products

Songseng (301002) announced on February 25 that it has signed a joint venture agreement with Xi’an Yimai Tongchuang Consulting and Xi’an Yimai Rui Power Technology to establish Shenzhen Songseng Yimai Digital Energy Technology, with a registered capital of 30 million yuan, of which the company will contribute 15.3 million yuan (51%). The joint venture will develop server and AI power supplies, leveraging supply chain advantages and technological expertise to enhance competitiveness.

Longbai Group: Partial Restart of Subsidiary Longbai Xiangyang Sulfuric Acid Production Line

Longbai Group (002601) announced on February 25 that its wholly owned subsidiary Longbai Xiangyang Sulfuric Acid experienced a safety incident in September 2025. After safety inspections and rectifications, the company received approval to resume production of sulfuric acid from the local emergency management bureau. The sulfuric acid production line has partially restarted, and the titanium dioxide production line is operating normally. The incident has not significantly impacted overall operations.

Tongyuan Petroleum: No Major Changes in Operations or Environment Recently

Tongyuan Petroleum (300164) announced on February 25 that its stock price has deviated by over 30% over two days (February 24–25). Its operations and environment remain stable, with no undisclosed major matters or ongoing planning.

BaiBang Technology: Subsidiary Extends Apple Independent Repair Provider Agreement

BaiBang Technology (002839) announced on February 25 that its wholly owned subsidiary Shanghai Shandianfeng Electronics signed a renewal agreement with Apple, extending the Apple Independent Repair Provider Agreement until June 30, 2030, from the original expiry of June 30, 2026.

Bohai Chemical: Some R&D Projects Operational; Transition from Single-Product to Multi-Product High-Polymer Materials

Bohai Chemical (002552) announced on February 25 that some projects of its fundraising investment in acrylic ester and superabsorbent resin new materials are operational as of February 24, 2026. This marks a shift from single acrylic products to diversified high-polymer materials.

Jiaze New Energy: Approval for 300,000 Tons of Green Hydrogen and Synthetic Fuel Co-Production Project

Jiaze New Energy (688519) announced on February 25 that its subsidiary Heilongjiang Jiayi Rongyuan Green Chemical received approval for a 300,000-ton green hydrogen and synthetic fuel co-production project, including a biomass cogeneration component.