March 24 Evening Shanghai and Shenzhen Listed Companies Major Events Announcement Latest Express

Shanghai and Shenzhen listed companies released company announcements on the evening of March 24. Here is a summary of important announcements.

【Major Events】

Dongwei Semiconductor: Plans to acquire 53.09% stake in Huineng Tai Semiconductor for 408 million yuan

Dongwei Semiconductor (688261) announced on March 24 that it intends to acquire a 53.09% stake in Shenzhen Huineng Tai Semiconductor Technology Co., Ltd. (“Huineng Tai Semiconductor”) held by its shareholders for 408 million yuan. After the transaction, Huineng Tai Semiconductor will become a controlling subsidiary of the company and be included in the consolidated financial statements. Following this, the company plans to acquire the remaining 5.32% stake held by state-owned shareholders through a public delisting, though success is uncertain. Huineng Tai Semiconductor mainly engages in defining, developing, and commercializing high-performance analog and mixed-signal integrated circuits, including USB Type-C ecosystem and digital energy sectors, with main products being smart fast-charging and digital energy lines.

Zhenyou Technology: Plans to issue up to 500 million yuan in technological innovation bonds

Zhenyou Technology (688418) announced on March 24 that, to implement its innovation-driven development strategy, increase R&D investment, expand financing channels, and optimize debt structure, it plans to apply for registration of up to 500 million yuan in technological innovation bonds with the National Interbank Funding Center.

Sanchao New Materials: Plans to invest 240 million yuan to build a battery technology R&D experimental base

Sanchao New Materials (300554) announced on March 24 that it plans to build a battery technology R&D experimental base focusing on perovskite crystalline silicon stacking technology, including basic research, application research, and subsequent mass production research, with a total investment of about 240 million yuan.

Zhejiang Wenying: Plans to invest 200 million yuan to participate in a film industry fund

Zhejiang Wenying (601599) announced on March 24 that it plans to jointly sign a “Zhejiang Film Industry Fund Partnership Agreement” with related party Yangtze River Delta Digital Culture Private Fund Management (Hangzhou) Co., Ltd. and other investors, to participate as a limited partner in establishing the Zhejiang Film Industry Equity Investment Partnership (Limited Partnership). The total committed capital of the fund is 1.009 billion yuan, with the company planning to contribute 200 million yuan, accounting for 19.82% of the total committed capital.

Sinopharm Modern: Subsidiary obtains marketing approval and related rights for Ethylpiperazine Hydrochloride Tablets

Sinopharm Modern (600420) announced on March 24 that its controlling subsidiary, Sinopharm Group Zhijun (Shenzhen) Pharmaceutical Co., Ltd. (“Sinopharm Zhijun”), signed a transfer agreement with Shanghai Boyue Biotechnology Co., Ltd. (“Shanghai Boyue”) for the marketing approval and related rights of Ethylpiperazine Hydrochloride Tablets (50mg). The transfer fee totals 10.5 million yuan. The drug is a central muscle relaxant used to treat muscle tension in conditions like neck and shoulder syndrome, periarthritis, and back pain, as well as spastic paralysis caused by diseases.

Keqian Biological: Plans to sign a cooperative R&D agreement with Huazhong Agricultural University

Keqian Biological (688526) announced on March 24 that, after competitive negotiations with Huazhong Agricultural University (“Huazhong Agr”), it has obtained cooperation rights for the “Feline Quadrivalent (Feline Panleukopenia Virus, Feline Calicivirus, Feline Herpesvirus, Feline Mycoplasma) Inactivated Vaccine and Feline Mycoplasma Inactivated Vaccine” project. The company plans to sign a joint development agreement with Huazhong Agr and will pay 1 million yuan for the project. The resulting technological achievements and intellectual property rights will be jointly owned by the company and Huazhong Agr.

Guofa Shares: Major shareholder’s 3.4% stake to be auctioned by judicial authorities, potential change of actual controller

Guofa Shares (600538) announced on March 24 that due to a loan dispute involving major shareholder Zhu Rongjuan and her associate Peng Tao with Guangxi Meiqiang Investment Co., Ltd., 17.84 million shares (3.4% of total shares) held by Zhu Rongjuan will be auctioned by the Nanning Qingxiu District Court from 10:00 on April 22 to 10:00 on April 23 (excluding delays). The company’s major shareholder and its associates currently face high levels of judicial freezing, with numerous enforcement cases involving large amounts over the past year. If the auction is successful and the shares are transferred, the company’s controlling shareholder and actual controller may change.

LiuGong: Impact of Middle East conflict mainly on logistics; short-term impact limited due to low revenue share

LiuGong (3/24) stated on its interactive platform that the Middle East conflict mainly affects logistics. Since this region accounts for a small portion of revenue, the short-term impact is limited. The company’s international team closely monitors geopolitical and economic developments abroad, responds quickly to market changes, and takes effective measures to advance business. The company will continue to monitor regional developments and adjust market strategies accordingly to minimize impact.

Fengfan Shares: Plans to list and transfer 60% stake in Jingying Optoelectronics

Fengfan Shares (601700) announced on March 24 that it plans to transfer its 60% stake in Suzhou Jingying Optoelectronics Technology Co., Ltd. (“Jingying Optoelectronics”). The transfer will be conducted through pre-listing on the Jiangsu Property Rights Exchange, in accordance with state-owned asset management regulations.

Tianfu Communications: 1.6T optical engine products are in normal delivery

Tianfu Communications (3/24) stated on its interactive platform that its 1.6T optical engine products are being delivered normally.

【Performance Highlights】

Yuanjie Technology: Net profit of 191 million yuan in 2025, turns profitable, plans 10-for-4.5 bonus and 7 yuan dividend

Yuanjie Technology (688498) disclosed its annual report on March 24, projecting a net profit of 191 million yuan in 2025, reversing previous losses of 6.13 million yuan. Revenue is expected to reach 600.1 million yuan, up 138.5% year-over-year. Basic earnings per share are projected at 2.24 yuan. The company plans to distribute a bonus of 4.5 shares for every 10 shares and a cash dividend of 7 yuan (tax included). During the period, driven by the growth in AI-related demand for optical chips, sales in data center segments surged, accounting for over 50% of total revenue, becoming a key income source.

Zhonghua Enterprise: Net profit of 119 million yuan in 2025, turns profitable

Zhonghua Enterprise (600675) announced on March 24 that it expects to achieve revenue of 10.557 billion yuan in 2025, up 51.71% year-over-year, with a net profit of 119 million yuan, reversing a loss of 317 million yuan in the previous year. Basic earnings per share are estimated at 0.02 yuan. The company plans to pay a cash dividend of 0.059 yuan per 10 shares (tax included). The increase in delivered and settled products contributed to the improved performance.

Xinlian Electronics: Net profit of 578 million yuan in 2025, up 116.86%, plans 10-for-1.2 dividend

Xinlian Electronics (002546) released its annual report on March 24, projecting revenue of 688 million yuan in 2025, down 10.23% year-over-year, but net profit of 578 million yuan, up 116.86%. After deducting non-recurring gains and losses, net profit is 134 million yuan, up 0.05%. Basic earnings per share are 0.69 yuan. The company plans to distribute a cash dividend of 1.2 yuan per 10 shares (tax included).

Ruoyuchen: Net profit of 194 million yuan in 2025, up 84.03%, plans 10-for-3 dividend

Ruoyuchen (003010) announced on March 24 that it expects revenue of 3.432 billion yuan in 2025, up 94.35%, with net profit of 194 million yuan, up 84.03%. Basic earnings per share are 0.63 yuan. The company plans to pay a cash dividend of 3 yuan per 10 shares (tax included).

CNOOC Services: Net profit of 3.842 billion yuan in 2025, up 22.5%, plans 10-for-2.825 dividend

CNOOC Services (601808) announced on March 24 that it expects revenue of 50.283 billion yuan in 2025, up 4.1%, with net profit of 3.842 billion yuan, up 22.5%. Basic earnings per share are 0.81 yuan. The company plans to distribute a dividend of 2.825 yuan per 10 shares (tax included). In 2025, global oil and gas exploration spending showed “moderate growth in total volume with regional adjustments.” The company optimized resource allocation domestically and internationally, expanded new business models like “platform+,” “ship+,” and “technology+,” ensured supply chain stability, and maintained steady growth.

Dingyang Technology: Net profit of 143 million yuan in 2025, up 27.19%, plans 10-for-6.6 dividend

Dingyang Technology (688112) announced on March 24 that it expects revenue of 602 million yuan in 2025, up 21.03%, with net profit of 143 million yuan, up 27.19%. Basic earnings per share are 0.9 yuan. The company plans to pay a dividend of 6.6 yuan per 10 shares (tax included).

Shuanghui Development: Net profit of 5.105 billion yuan in 2025, up 2.32%, plans 10-for-8 dividend

Shuanghui Development (000895) announced on March 24 that it expects revenue of 59.274 billion yuan in 2025, down 0.48%, with net profit of 5.105 billion yuan, up 2.32%. Basic earnings per share are 1.47 yuan. The company plans to distribute 8 yuan per 10 shares (tax included).

Shu Dian Shares: Net profit of 3.822 billion yuan in 2025, up 47.74%, plans 10-for-5 dividend

Shu Dian Shares (002463) announced on March 24 that it expects revenue of 18.945 billion yuan in 2025, up 42%, with net profit of 3.822 billion yuan, up 47.74%. Basic earnings per share are 1.99 yuan. The company plans to distribute 5 yuan per 10 shares (tax included).

Guodun Quantum: Net profit of 5.3919 million yuan in 2025, turns profitable

Guodun Quantum (688027) announced on March 24 that it expects revenue of 310 million yuan in 2025, up 22.53%, with net profit of 539,194 yuan, reversing a loss of 31.84 million yuan last year. Basic earnings per share are 0.05 yuan. The company plans to pay a dividend of 0.16 yuan per 10 shares (tax included). During the period, quantum computing revenue was 120 million yuan, up 111.82%; quantum communication revenue was 140 million yuan; quantum precision measurement revenue was 38.14 million yuan. R&D investment was 123 million yuan, up 32.42%, accounting for 39.7% of revenue, maintaining a high level.

Fosun Pharma: Net profit of 3.371 billion yuan in 2025, up 21.69%, plans 10-for-3.9 dividend

Fosun Pharma (600196) announced on March 24 that it expects revenue of 416.2 billion yuan in 2025, up 1.45%, with net profit of 3.371 billion yuan, up 21.69%. Basic earnings per share are 1.27 yuan. The company plans to distribute 3.9 yuan per 10 shares (tax included). Several innovative drugs made significant progress, such as self-developed Fu Maining (Luvo-Met) and Fu Tu Ning (Citrus Vexi Capsules), which have been approved and included in the national medical insurance catalog, accelerating commercialization. Revenue from innovative products steadily increased, partially offsetting the impact of volume-based procurement of generics.

Chongqing Bank: Net profit of 5.654 billion yuan in 2025, up 10.49%, plans 10-for-2.918 dividend

Chongqing Bank (601963) announced on March 24 that it expects revenue of 15.113 billion yuan in 2025, up 10.48%, with net profit of 5.654 billion yuan, up 10.49%. Basic earnings per share are 1.53 yuan. The company plans to distribute 2.918 yuan per 10 shares (tax included). As of December 31, 2025, the non-performing loan ratio was 1.14%, down 0.11 percentage points; the provision coverage ratio was 245.58%, up 0.5 percentage points.

Hainan Mining: Net profit of 431 million yuan in 2025, down 38.99%, plans 10-for-0.8 dividend

Hainan Mining (601969) announced on March 24 that it expects revenue of 4.416 billion yuan in 2025, up 8.62%, but net profit of 431 million yuan, down 38.99%. It plans to pay a dividend of 0.8 yuan per 10 shares (tax included). The decline was due to completion of acquisition of Tethys, increased output at Bajiao Gas Field, and upstream lithium projects reaching production, leading to steady growth in revenue and assets. Declines in iron ore and crude oil prices, increased government share of oil and gas revenues, and higher financial costs contributed to the profit decrease.

CNOOC Development: Net profit of 3.841 billion yuan in 2025, up 6.24%, plans 10-for-1.47 dividend

CNOOC Development (600968) announced on March 24 that it expects revenue of 50.363 billion yuan in 2025, down 4.1%, with net profit of 3.842 billion yuan, up 6.24%. Basic earnings per share are 0.38 yuan. The company plans to distribute 1.47 yuan per 10 shares (tax included).

Tianjin Port: Net profit of 1.02 billion yuan in 2025, down 1.3%, plans 10-for-1.02 dividend

Tianjin Port (600717) announced on March 24 that it expects revenue of 12.792 billion yuan in 2025, up 5.98%, but net profit of 1.02 billion yuan, down 1.3%. It plans to pay a dividend of 1.02 yuan per 10 shares (tax included).

China Telecom: Net profit of 33.185 billion yuan in 2025, up 0.5%, plans 10-for-0.908 dividend

China Telecom (601728) announced on March 24 that it expects revenue of 5239.25 billion yuan in 2025, up 0.1%, with net profit of 33.185 billion yuan, up 0.5%. Basic earnings per share are 0.36 yuan. The company plans to distribute 0.908 yuan per 10 shares (tax included). Including the interim dividend of 0.1812 yuan per share, the total annual dividend is 0.2720 yuan per share. 2025 saw continued growth in strategic new businesses, with Tianyi Cloud revenue reaching 120.7 billion yuan, cloud IaaS market share rising to second domestically, and IaaS+PaaS market share among the top three. AIDC revenue reached 34.5 billion yuan, security revenue 16.6 billion yuan, and smart revenue 12.3 billion yuan. Video network revenue grew 31.2%, quantum revenue 65.4%, satellite revenue 30.7%.

China National Chemical: Net profit of 6.436 billion yuan in 2025, up 13.15%, plans 10-for-1.11 dividend

China National Chemical (601117) announced on March 24 that it expects revenue of 189.501 billion yuan in 2025, up 1.97%, with net profit of 6.436 billion yuan, up 13.15%. Basic earnings per share are 1.06 yuan. The company plans to distribute 1.11 yuan per 10 shares (tax included), plus 1 yuan per 10 shares already paid in mid-year, totaling 2.11 yuan per 10 shares for the year.

【Shareholding Changes】

Biyin Leifen: Director Shen Jindong plans to increase holdings by 50 million to 100 million yuan

Biyin Leifen (002832) announced on March 24 that director Shen Jindong plans to increase holdings via centralized bidding, with a total amount of no less than 50 million yuan and no more than 100 million yuan. Before this, Shen Jindong held 2.58% of the company’s shares.

Ningbo Dongli: Plans to buy back shares worth 60 million to 120 million yuan

Ningbo Dongli (002164) announced on March 24 that it plans to buy back shares worth 60 million to 120 million yuan at a price not exceeding 20.3 yuan per share, for use in employee stock ownership plans or equity incentives.

Zhongwang Software: Plans to buy back shares worth 10 million to 20 million yuan

Zhongwang Software (688083) announced on March 24 that it plans to buy back shares worth 10 million to 20 million yuan at a price not exceeding 92.19 yuan per share, for employee stock plans or equity incentives.

Jiuli Special Materials: Plans to buy back shares worth 150 million to 200 million yuan

Jiuli Special Materials (002318) announced on March 24 that it plans to buy back shares worth 150 million to 200 million yuan at a price not exceeding 50 yuan per share, for employee stock plans, equity incentives, or convertible bonds.

Sanquan Food: Plans to buy back shares worth 75 million to 150 million yuan

Sanquan Food (002216) announced on March 24 that it plans to buy back shares worth 75 million to 150 million yuan at a price not exceeding 13.5 yuan per share, for employee stock plans or incentives.

Nearshore Protein: Buyback price upper limit adjusted to 46.25 yuan per share

Nearshore Protein (688137) announced on March 24 that due to the stock price exceeding the buyback upper limit, it will adjust the maximum buyback price from 30.68 yuan to 46.25 yuan per share to ensure smooth implementation.

Three Squirrels: Plans to buy back 100 million to 200 million yuan worth of shares

Three Squirrels (300783) announced on March 24 that it plans to buy back shares worth 100 million to 200 million yuan at a price not exceeding 32.34 yuan per share, for equity incentives, employee stock plans, and to maintain company value and shareholder interests.

Jujiao Shares: Shareholder Zheng Chaoyang plans to reduce holdings by up to 3%

Jujiao Shares (301283) announced on March 24 that shareholder Zheng Chaoyang, holding 3.76%, plans to reduce holdings by no more than 2.4125 million shares (3% of total shares) via centralized bidding and block trades.

Jingneng Thermal Power: Certain shareholders plan to reduce holdings by up to 4%

Jingneng Thermal Power (002893) announced on March 24 that shareholders Chen Xiuming (holding 3.42%) and Zhongshan General Technology Venture Capital (limited partnership, holding 1.96%) plan to reduce holdings by up to 7.9092 million shares (3%) and 2.6364 million shares (1%) respectively within three trading days after the announcement, via centralized bidding.

【Major Contracts】

Chang Aluminum: Wholly owned subsidiary wins 184 million yuan project

Chang Aluminum (002160) announced on March 24 that its wholly owned subsidiary Shanghai Langmai received a “Winning Notice,” confirming it as the successful bidder for the electromechanical and purification installation project (specialized subcontract) for Shanghai Laisi Blood Products Co., Ltd.'s capacity expansion, with a contract amount of 184 million yuan (including tax), accounting for 20.15% of Shanghai Langmai’s 2024 audited revenue.

Jin Chengxin: Signs 470 million yuan engineering contract

Jin Chengxin (603979) announced on March 24 that it has secured a construction contract worth approximately 470 million yuan (excluding tax) for the Leibo Kairui Phosphorus Chemical Co., Ltd. project, with a total duration of 946 days.

Huaneng Power: Jointly signs EPC contract worth about 827 million yuan

Huaneng Power (601226) announced on March 24 that it, as the lead party in a consortium, together with China Power Construction Group Hebei Engineering Co., Ltd., signed an EPC contract for the Inner Mongolia Huaneng Tengger Green Energy 4×1 million kW coal power project, with a contract value of about 827 million yuan (including tax), and a total duration of 843 days.