Trading Alert Special
【Trading Suspension】 001331 Shengtong Energy
【Trading Resumption】 300561 Huijin Technology
【Key Corporate Announcements】 Defu Technology: Plans 31 Billion Yuan Investment for 50,000-Ton High-End AI Electronic Circuit Copper Foil Project Defu Technology announced that the company intends to sign an "Investment Project Contract" with the Jiujiang Economic and Technological Development Zone Administrative Committee. The plan involves an investment of approximately 31 billion yuan (including fixed asset investment of about 21 billion yuan and subsequent operational working capital of 10 billion yuan) to construct a 50,000-ton per year high-end AI electronic circuit copper foil project. The implementing entity will be its wholly-owned subsidiary, Jiujiang Amber New Materials Co., Ltd. The project will be constructed in two phases, each with an annual capacity of 25,000 tons of copper foil. This investment still requires submission to the shareholders' meeting for approval and carries risks related to project approval, funding pressure, and capacity absorption.
Kingsdown Technology: Renews Five-Year Supply Agreement with Tempur Sealy International, Extending to May 2031 Kingsdown Technology announced that the company and Tempur Sealy International have reached an agreement to extend the term of their original supply agreement until May 2031, with no other material changes. Tempur Sealy International is a major customer, accounting for 47.16%, 44.39%, and 38.85% of sales from 2023 to 2025, respectively. This renewal is expected to enhance the company's sustainable profitability, but risks such as exchange rate fluctuations and changes in the cooperative relationship should be noted.
*ST Wintek: Company's Control Over Nexperia Remains Temporarily Restricted *ST Wintek announced that previously, its subsidiaries Nexperia B.V. and Nexperia Holding B.V. received a ministerial order from the Dutch Ministry of Economic Affairs and Climate Policy and a ruling from the Enterprise Chamber of the Amsterdam Court of Appeal. As of now, although the aforementioned ministerial order has been declared suspended, the relevant ruling from the Enterprise Chamber remains in effect. The company's control over Nexperia is therefore still temporarily restricted. The company will continue to exhaust all legal means to restore its full control over Nexperia and protect the rights of investors. Additionally, the shares of the company held by its controlling shareholder are currently under judicial freeze. The company is seeking details of the case from the controlling shareholder and will fulfill information disclosure obligations promptly in accordance with relevant laws and regulations.
Changxin Technology: Subsidiary Plans to Purchase Up to 30 Billion Yuan Worth of Computing Power Servers Changxin Technology announced that its subsidiary, Changxin Zhisuan, intends to purchase servers from multiple suppliers, with a total estimated amount not exceeding 30 billion yuan, primarily to provide computing power services to customers. This transaction does not constitute a major asset restructuring or a connected transaction. It has been reviewed and approved by the board of directors and does not require submission to the shareholders' meeting. The company noted that the computing power business is still in the early stages of expansion, carrying market, technological, and funding risks, and may increase financial expenses and impact performance in the short term.
Shengtong Energy: Partial Tender Offer by Qiteng Robotics Expires; Trading Suspension Initiated Shengtong Energy announced that the partial tender offer period initiated by Qiteng Robotics Co., Ltd. to all shareholders of the company expired on May 27, 2026. The offer price was 13.28 yuan per share, with the target to acquire 42,336,000 shares, representing 15% of the company's total shares. As the results of the tender offer require further confirmation, the company's shares will be suspended from trading starting from the morning of May 28, 2026. Trading will resume or remain suspended on the announcement date of the tender offer results, depending on whether the post-offer shareholding distribution meets listing conditions.
Huadian Liaoneng: Green Hydrogen Market Still in Cultivation Stage; Downstream Demand and Product Prices Face Uncertainty Huadian Liaoneng issued an announcement regarding abnormal stock price fluctuations. The company's main business is thermal power generation, with no significant changes in daily operations, and it is not involved in computing-power coordination projects. Its 25MW wind power off-grid hydrogen production integrated project, operated by the controlling subsidiary Liaoning Tieling Huadian Hydrogen Energy Technology Development Co., Ltd., is small in scale. Hydrogen energy operating revenue for Q1 2026 was 1.2648 million yuan, having no significant impact on the company's financial data. The green hydrogen market is still in the cultivation stage, with uncertainty in downstream demand and product prices.
Woguang Optoelectronics: Business in Pan-Semiconductor Sector Remains at Early Stage; Revenue Contribution Extremely Low Woguang Optoelectronics issued an announcement regarding abnormal fluctuations. The company noted the recent high market attention on the application of glass substrates in the semiconductor field. Currently, the company's business in the pan-semiconductor sector is still in its early stages. Relevant product technologies are still in the R&D verification or sample verification phase, and large-scale industrial mass production has not yet been achieved. The revenue contribution is extremely low, and the relevant operating entities are currently still in a loss-making state. The industrialization process, future order scale, and operating benefits of this business involve significant uncertainty. Investors are advised to pay attention to the associated risks.
【Share Buybacks】 Dabeinong: Plans 50 to 80 Million Yuan Share Buyback Dabeinong announced plans to repurchase company shares worth 50 to 80 million yuan for future implementation of equity incentive or employee stock ownership plans. The repurchase price will not exceed 5.7 yuan per share (inclusive).
Huicheng Shares: Plans 60 to 120 Million Yuan Share Buyback Huicheng Shares announced plans to repurchase shares worth 60 to 120 million yuan. The repurchased shares will be used entirely for employee stock ownership plans or equity incentives at an appropriate future time. The repurchase price will not exceed 27.71 yuan per share (inclusive).
【Shareholding Changes】 ST Yuncheng: Controlling Shareholder Plans to Increase Holdings by Up to 2% ST Yuncheng announced that its controlling shareholder, Kanglv Group, plans to increase its holdings in the company opportunistically over the next 12 months. The cumulative increase will be no less than 5 million shares and no more than 32,113,700 shares, representing no more than 2% of the company's total shares.
【Major Contract Signings】 Jinchengxin: Signs Mining Operation Contract with Estimated Value of Approximately 111 Million Yuan Jinchengxin announced that the company recently secured the 2026 mining operation contract for the Jiangxi Copper Group Yinshan Mining Co., Ltd. underground 8000t project. This is a unit-price contract, with an estimated contract value of approximately 111 million yuan based on projected workload. The final amount will be based on the actual accepted and completed workload and settlement payments.
Xinhongye: Wholly-Owned Subsidiary Wins Haiyang Nuclear Power Project Bid Xinhongye announced that its wholly-owned subsidiary, Jiangsu Huaguang Cable & Electrical Appliance Co., Ltd., recently received a notice of winning the bid. It has been determined as the winning bidder for the "Shanghai Nuclear Engineering Research & Design Institute Haiyang Nuclear Power Units 3 & 4 (HYS) BOP Cable and Conventional Island Cable (EW00) Project," with a total bid amount of 41,880,900 yuan. This project falls within the company's main business scope. The signing of a formal contract and its smooth implementation are expected to have a positive impact on the company's future operations.
Qiaoyuan Shares: Wholly-Owned Subsidiary Signs 170 Million Yuan Industrial Gas Supply Contract Qiaoyuan Shares announced that its wholly-owned subsidiary, Qiaoyuan Gas (Meishan) Co., Ltd., signed an "Industrial Gas Supply Contract" with Wanhua Chemical (Sichuan) Co., Ltd. in Meishan City, Sichuan Province. Preliminary calculations based on the contract indicate a pipeline gas contract value of approximately 170 million yuan (excluding tax).
Inner Mongolia First Machinery Group: Wholly-Owned Subsidiary Signs 532 Million Yuan Railway Freight Car Procurement Contract Inner Mongolia First Machinery Group announced that its wholly-owned subsidiary, Baotou Beifang Chuangye Co., Ltd., signed a "Railway Freight Car Procurement Project Contract" with China State Railway Group Co., Ltd. The total contract value is 532 million yuan (including tax). The procurement includes C70E-type general-purpose gondola cars, GQ70-type light oil tank cars, and X70-type container flat cars. The fulfillment of this contract is expected to have a positive effect on the company's performance.