**Trading Alerts** **Trading Suspension** 600222 TaiLong Pharmaceutical

**Trading Resumption** 002348 Gaole Toys 002667 Weiling Shares 300344 *ST Lifang (Rights Protection) 002689 ST Yuanzhi (Rights Protection)

**Key Announcements** Luxin Venture Capital: Plans to establish a RMB 400 million investment fund focusing on life sciences, advanced manufacturing, and AI industries. Luxin Venture Capital announced its intention to co-establish the Shandong Kejin Jushi Venture Capital Partnership (LP) with a total commitment of RMB 400 million. The company, as a limited partner, will contribute RMB 148 million (37% of the fund). The fund will primarily invest in life sciences, advanced manufacturing, and AI sectors.

Qianwei Central Kitchen: Natural shareholders holding 100+ shares eligible for a product gift pack worth RMB 200. Qianwei Central Kitchen announced a shareholder appreciation event from December 2 to December 16, 2025. Natural shareholders holding 100+ shares as of December 1 closing are eligible for one gift pack (RMB 200 value), while corporate shareholders can claim three packs.

China Fortune Land Development: Plans to offset RMB 24.001 billion financial debt with trust beneficiary rights. China Fortune Land Development disclosed its plan to use trust beneficiary rights to settle up to RMB 24.001 billion in financial liabilities under its debt restructuring plan. As of the announcement, RMB 22.348 billion has been settled, with the remaining RMB 1.653 billion under process.

TaiLong Pharmaceutical: Controlling shareholder plans equity transfer; trading suspended. TaiLong Pharmaceutical announced a potential control change due to its controlling shareholder Zhengzhou Tairong Industrial Investment’s equity transfer plan. Trading will be suspended from December 2 for up to two trading days.

ST Xianhe (Rights Protection): Applied for delisting from special risk警示. ST Xianhe submitted an application to the Shenzhen Stock Exchange to remove its special risk警示 status. Approval remains pending. The company has restated financial reports related to prior penalties and meets the 12-month post-penalty requirement.

*ST Yuancheng: Delisted due to市值 below threshold. Yuancheng Environment faced delisting after its market cap stayed below RMB 500 million for 20 consecutive trading days (October 14–November 10). The Shanghai Stock Exchange confirmed the delisting on November 28. The company has appointed Guotai Haitong Securities as its designated broker for post-delisting procedures.

Zhejiang Chint Electrics: Subsidiary to invest up to RMB 201 million in a green industry fund. Zhejiang Chint Electrics disclosed its subsidiary Chint New Energy’s plan to invest up to RMB 201 million in the Xuancheng Guotai Kaisheng Chint Green Private Equity Fund (LP). The RMB 700 million fund, with a 7-year term, will focus on new energy and environmental sectors.

**Performance Highlights** SAIC Motor: Sold 4.108 million vehicles in Jan-Nov, up 16.4% YoY. SAIC Motor reported 4.108 million vehicle sales in the first 11 months of 2025, a 16.4% increase YoY, surpassing 2024’s total. November NEV sales reached 209,000 units (+19.7% YoY).

XPeng: Delivered 36,728 smart EVs in November (+19% YoY). XPeng’s cumulative Jan-Nov deliveries hit 391,937 units (+156% YoY).

NIO Inc.: Delivered 36,275 vehicles in November (+76.3% YoY). NIO Inc. reported November deliveries of 36,275 units, including 18,393 under the NIO brand, 11,794 under Ledao, and 6,088 under Firefly. Cumulative deliveries reached 949,457 units.

Geely Automobile: Sold 310,428 vehicles in November (+24% YoY). Geely Automobile’s November sales included 102,602 BEVs (+12% YoY).

Li Auto: Delivered 33,181 vehicles in November.

**Share Repurchases** Hengyi Petrochemical: Controlling shareholder plans RMB 1.5–2.5 billion增持. Hengyi Petrochemical’s controlling shareholder Hengyi Group and affiliates will增持 shares (RMB 1.5–2.5 billion) over six months at ≤RMB 10/share.

Juneyao Airlines: Repurchased 1.67% stake for RMB 463 million. As of November 30, Juneyao Airlines repurchased 36.47 million shares (1.67% of total) at RMB 11.93–13.46/share.

Shunhao Shares: Repurchased 13.45 million shares (1.27% of total) for RMB 99.99 million.

BOE: Repurchased 244 million shares (0.65% of A-shares) for RMB 975 million.

Foxconn Industrial Internet: Repurchased 9.32 million shares (0.05% of total) for RMB 247 million.

**Shareholder Actions** Linton Technologies: Shareholder Zhaoheng plans ≤2%减持. Shareholder Zhaoheng will减持 up to 4.7 million shares (2% of total) over three months.

VeriSilicon: Shareholders Xingcheng and CDB Fund plan ≤1.15%减持. Xingcheng will减持 ≤5.26 million shares (1% of total), while CDB Fund will减持 ≤788,600 shares (0.15%) from December 23, 2025, to March 20, 2026.

**Major Contracts** Far East Smarter Energy: Subsidiaries secured RMB 2.383 billion orders in November. Contracts include RMB 699 million from state grid projects and RMB 1.684 billion from strategic clients.

Samsung Medical: Subsidiary won a RMB 160 million smart meter contract in Indonesia. The contract with PLN covers prepaid and postpaid meters, representing 1.10% of 2024 revenue.

Zhongchao Holdings: Subsidiaries won RMB 1.318 billion projects. The contracts account for 23.97% of 2024 revenue.

Changhua Group: Secured a RMB 732 million auto parts project. The 5-year project for key metal components is set for mass production in Q2 2026.