March 25th Evening Shanghai and Shenzhen Listed Companies Major Events Announcements Latest Express

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

【Major Events】

Yahua Group: Signs Five-Year Lithium Spodumene Concentrate Procurement Agreement

Yahua Group (002497) announced on March 25 that it recently signed a “Purchase and Sale Agreement” with MGLIT EMPREENDIMENTOS LTDA (referred to as “MGLIT” or “Seller”). Yahua will purchase lithium spodumene concentrate from MGLIT for five years after stable production begins. Each contract year, the seller shall sell and deliver at least 120,000 dry metric tons of lithium spodumene concentrate to Yahua. The signing of this agreement will secure multiple resource channels for the company’s lithium salt product production.

ST United: Applies to Remove Other Risk Warning on Shares

ST United (600358) announced on March 25 that the board approved the proposal to apply for removal of the “Other Risk Warning” on its shares, and agreed to request the Shanghai Stock Exchange to revoke this warning.

China Life: Plans to Invest 2.8 Billion Yuan in Xinrui Kechuang Relay Fund

China Life (601628) announced on March 25 that it intends to contribute 2.8 billion yuan as a limited partner to Fujian Xinrui Kechuang Relay Equity Investment Fund Partnership. The fund’s other limited partners include Fujian Provincial Investment Fund Co., Ltd. and Fuzhou Jin Investment Industry Investment Co., Ltd., among others. The total committed capital of all partners is planned to be 4.0154 billion yuan. The fund focuses on secondary private equity markets, investing in technology innovation sectors supported by national policies through secondary market share and restructuring funds, aiming to improve insurance fund investment returns and meet asset allocation needs.

RuiNeng Technology: Planning to Acquire Botai Smart Control Rights, Trading Halt from March 26

RuiNeng Technology (603933) announced on March 25 that it is planning to acquire control of Botai Smart Equipment (Guangdong) Co., Ltd. through a combination of issuing A-shares and cash payments, and raising supporting funds. Its A-shares will be suspended from March 26, expected to last no more than 10 trading days.

Debon Shares: To Terminate Listing on March 31

Debon Shares (603056) announced on March 25 that it received a decision from the Shanghai Stock Exchange on March 24 to withdraw its shares from trading and terminate listing. The shares will be delisted on March 31, 2026. After delisting, the company will transfer to the National Equities Exchange and Quotations (NEEQ) system for small and medium-sized enterprises, managed through its original securities firm.

Xinhuangpu: Chairman Zhao Zhengrong Resigns

Xinhuangpu (600638) announced on March 25 that due to personal health reasons, Chairman Zhao Zhengrong has resigned from his positions as chairman, strategic committee chair, and director. His departure will not cause the board to fall below the minimum legal number of members, nor will it adversely affect daily operations.

Jiahe Food: Plans to Invest 1 Billion Yuan in Super Plant-Based Milk Smart Manufacturing Project

Jiahe Food (605300) announced on March 25 that on March 24, it signed a “Framework Agreement for Industrial Project Development” with Haimen Economic and Technological Development Zone Management Committee. The two parties reached an investment intention of about 1 billion yuan to produce liquid beverages such as milk tea, oatmeal milk, and walnut milk.

Air China: Plans to Purchase 101 Airbus A320NEO Series Aircraft

Air China (600115) announced on March 25 that it signed a “Purchase Agreement for 101 Airbus A320NEO Series Aircraft” with Airbus. The aircraft are scheduled for delivery between 2028 and 2032. The total list price is approximately $15.802 billion, which converts to about 108.893 billion yuan at the RMB/USD midpoint rate of 6.8911 on the signing date.

Xiamen Tungsten: Plans to Acquire Part of Jiangxi Jutong’s Equity to Increase Tungsten Self-Sufficiency

Xiamen Tungsten (600549) announced on March 25 that to ensure upstream tungsten raw material supply and increase self-sufficiency, it plans to acquire part of Jiangxi Jutong Industrial Co., Ltd. The company signed a tripartite cooperation agreement with Fujian Provincial Industrial Holding Group and Jiangxi Tungsten Holding Group. The latter will transfer approximately 30.17% of Jiangxi Jutong’s equity to the company, with final ownership subject to formal agreement. The transaction valuation is based on an asset appraisal of Jiangxi Jutong’s total equity value of about 1.966 billion yuan, subject to official approval.

JieNeng Wind Power: Director and General Manager Yang Zhongxu Resigns

JieNeng Wind Power (601016) announced on March 25 that Yang Zhongxu resigned from his positions as director, general manager, and nomination committee member due to work adjustments. His responsibilities have been smoothly transferred, and his departure will not significantly impact operations.

Hongyuan Green Energy: Subsidiary Participates in Wuxi Sander Bankruptcy Reorganization

Hongyuan Green Energy (603185) announced on March 25 that its subsidiary, Hongyuan Photovoltaic (Wuxi), signed a “Reorganization Investment Agreement” with Wuxi Sander Solar Power and its administrator. They will jointly establish Xin Sander with a registered capital of 1 billion yuan, with Hongyuan Photovoltaic contributing 630 million yuan for about 63% ownership. After court approval, the subsidiary will pay 142 million yuan for assets needed for operation, used for bankruptcy costs, creditor payments, employee claims, taxes, and to improve unsecured creditor recovery.

Hengtong Co.: Fully Owned Subsidiary Plans to Invest Up to 500 Million Yuan in Composite Foil Project

Hengtong Co. (600226) announced on March 25 that its wholly owned subsidiary, Hengtong Precision Copper Foil (Deyang), plans to build a high-end precision composite foil project in Deyang, Sichuan. The project will have an annual capacity of 45 million square meters of high-end copper-aluminum composite foil, with total investment not exceeding 500 million yuan.

Taifu Pump: Major Shareholder Plans to Control Change, Trading Halt Continues

Taifu Pump (300992) announced on March 25 that its actual controllers, Chen Yiwen and Lin Huifu, are planning a control change. The company received notice that negotiations are ongoing, and no formal agreement has been signed. Trading will remain suspended from March 26 for up to three days, and the company’s convertible bonds “Taifu Convertible Bond” will also suspend trading.

Yuanjie Technology: Submitted H-Share Issuance and Listing Application to HKEX

Yuanjie Technology (688498) announced on March 25 that it has submitted an application to the Hong Kong Stock Exchange for the issuance and listing of H-shares, and published the relevant documents on the HKEX website.

【Performance Highlights】

Youluoka: Net Profit in 2025 Expected to Grow 92.73%, Plans 10-for-1.4 Dividend

Youluoka (300099) released its annual report on March 25. In 2025, revenue was 579 million yuan, down 3.31%; net profit attributable to shareholders was 183 million yuan, up 92.73%; net profit after non-recurring gains and losses was 74.64 million yuan, down 23.42%. Basic earnings per share are 0.25 yuan. The company plans to distribute a cash dividend of 1.4 yuan per 10 shares (tax included).

Xinli Financial: Net Profit in 2025 Expected to Grow 14.49%, Plans 10-for-0.2 Dividend

Xinli Financial (600318) announced its annual report for 2025, with revenue of 352 million yuan, up 12.3%; net profit of 35.68 million yuan, up 14.49%; earnings per share of 0.07 yuan. The company plans to pay a dividend of 0.2 yuan per 10 shares (tax included). During the period, the company’s risk assets and collateralized assets’ net value decreased, while key efficiency indicators like interest-earning assets ratio and return on equity steadily increased.

Zhimingda: Net Profit in 2025 Expected to Grow 425.27%, Plans 10-for-1 Dividend

Zhimingda (688636) announced its annual report, with revenue of 709 million yuan, up 61.87%; net profit of 102 million yuan, up 425.27%; earnings per share of 0.61 yuan. The company plans to distribute 1 yuan per 10 shares (tax included). Zhimingda specializes in high-reliability embedded computers for aerospace, military, and commercial applications. Orders increased significantly, with aircraft and missile-related products growing 51% and 167%, respectively.

Nanya New Materials: Net Profit in 2025 Expected to Grow 337.6%, Plans 10-for-3.2 Dividend

Nanya New Materials (688519) announced its 2025 annual report, with revenue of 5.228 billion yuan, up 55.52%; net profit of 240 million yuan, up 337.6%; earnings per share of 1.07 yuan. The company plans to pay a dividend of 3.2 yuan per 10 shares (tax included). The company’s high-speed materials for AI servers have entered mass production, becoming a major supplier domestically.

Chuangyuan Environmental Protection: Net Profit in 2025 Expected to Grow 6.83%, Plans 10-for-2.09 Dividend

Chuangyuan Environmental (600874) announced its 2025 annual report, with revenue of 4.76 billion yuan, down 1.4%; net profit of 862 million yuan, up 6.83%; earnings per share of 0.55 yuan. The company plans to distribute 2.09 yuan per 10 shares (tax included). It expanded wastewater treatment capacity with a new project in Xianyang.

Haishun New Materials: Net Loss in 2025 of 23.27 million yuan, Plans 10-for-4.6 and 6 Yuan Dividend

Haishun New Materials (300501) announced its annual report, with revenue of 1.105 billion yuan, down 3.3%; net loss of 23.27 million yuan, compared to a profit of 74.59 million yuan last year. It plans to issue 4.6 new shares per 10 shares and pay a dividend of 6 yuan (tax included).

CPC Engineering: New Contracts in Jan-Feb 2026 Worth 18.964 Billion Yuan, Up 0.54%

CPC Engineering (600339) announced that in January-February 2026, it signed new contracts totaling 18.964 billion yuan, up 0.54%. In February alone, new contracts were 7.975 billion yuan, including one contract over 1 billion yuan.

Jinli Permanent Magnet: Net Profit in 2025 Expected to Grow 142.44%, Plans 10-for-2.2 Dividend

Jinli Permanent Magnet (300748) announced its 2025 annual report, with revenue of 7.718 billion yuan, up 14.11%; net profit of 706 million yuan, up 142.44%; earnings per share of 0.52 yuan. It plans to distribute 2.2 yuan per 10 shares (tax included).

Noli Co.: Net Profit in 2025 Expected to Drop 7.08%, Plans 10-for-8.33 Dividend

Noli Co. (603611) announced its 2025 annual report, with revenue of 6.689 billion yuan, down 4.14%; net profit of 429 million yuan, down 7.08%; earnings per share of 1.67 yuan. It plans to pay a dividend of 8.33 yuan per 10 shares (tax included).

Western Mining: Net Profit in 2025 Expected to Grow 24%, Plans 10-for-0.6 Dividend

Western Mining (601168) announced its 2025 annual report, with revenue of 61.687 billion yuan, up 23%; net profit of 3.643 billion yuan, up 24%; earnings per share of 1.53 yuan. It plans to distribute 0.6 yuan per 10 shares (tax included).

Shanghai Jahwa: Net Profit in 2025 Reverses Loss to 268 Million Yuan, Plans 10-for-2 Dividend

Shanghai Jahwa (600315) announced its 2025 annual report, with revenue of 6.317 billion yuan, up 11.25%; net profit of 268 million yuan, reversing last year’s loss of 833 million yuan; earnings per share of 0.4 yuan. It plans to pay 2 yuan per 10 shares (tax included). The turnaround was driven by growth in core business, margin improvement, and gains from investments and fair value changes.

Fuda Shares: Net Profit in 2025 Expected to Grow 70.87%, Plans 10-for-2 Dividend

Fuda Shares (603166) announced its 2025 annual report, with revenue of 1.988 billion yuan, up 20.66%; net profit of 317 million yuan, up 70.87%; earnings per share of 0.5 yuan. It plans to distribute 2 yuan per 10 shares (tax included).

China Life: Net Profit in 2025 Expected to Grow 44.1%, Plans 10-for-6.18 Dividend

China Life (601628) announced its 2025 annual report, with revenue of 6156.78 billion yuan, up 16.5%; net profit of 1540.78 billion yuan, up 44.1%; earnings per share of 5.45 yuan. It plans to pay a dividend of 6.18 yuan per 10 shares (tax included).

Hongqi Chain: Net Profit in 2025 of 481 Million Yuan, Down 7.78%

Hongqi Chain (002697) announced its performance brief, with revenue of 9.556 billion yuan, down 5.61%; net profit of 481 million yuan, down 7.78%; earnings per share of 0.35 yuan.

Huafeng Aluminum: Net Profit in 2025 Down 1.32%, Plans 10-for-3 Dividend

Huafeng Aluminum (601702) announced its 2025 annual report, with revenue of 12.487 billion yuan, up 14.79%; net profit of 1.202 billion yuan, down 1.32%; earnings per share of 1.2 yuan. It plans to pay 3 yuan per 10 shares (tax included). The decline was due to export tax rebates cancellation, trade protectionism, increased competition, and rising processing costs.

Dayuan Pump: 2025 Net Profit of 145 Million Yuan, Down 43.32%

Dayuan Pump (603757) announced its performance brief, with revenue of 1.928 billion yuan, up 1.01%; net profit of 145 million yuan, down 43.32%; earnings per share of 0.85 yuan. The decline was mainly due to management restructuring, increased employee benefits, higher depreciation from new plant, and absence of asset disposal gains.

CNBM International: 2025 Net Profit Down 4.06%, Plans 10-for-4.8 Dividend

CNBM International (600970) announced its annual report, with revenue of 49.599 billion yuan, up 7.53%; net profit of 2.862 billion yuan, down 4.06%; earnings per share of 1.09 yuan. It plans to pay 4.8 yuan per 10 shares (tax included).

【Share Reduction and Increase】

Port D Technology: Shareholder Ong Yao-gen Plans to Transfer 5.01% of Shares

Port D Technology (301633) announced that shareholder Ong Yao-gen, holding 7.60%, plans to transfer 2.79 million shares (5.01%) to Shanghai Zhongjue Private Equity Fund Management Co., Ltd., at 50 yuan per share, totaling about 140 million yuan (tax included).

Biaoao Intelligence: Plans to Repurchase Shares with 10 Million–20 Million Yuan

Biaoao Intelligence (300836) announced plans to buy back shares worth 10–20 million yuan, at a price not exceeding 65 yuan per share, for employee stock ownership or incentive plans.

Kangtai Medical: Shareholder Wang Guili Intends to Transfer 3.74% of Shares at Inquiry Price

Kangtai Medical (300869) announced that shareholder Wang Guili plans to transfer 15.037 million shares (3.74%) at an inquiry price.

【Major Contracts】

Huaneng Power: Signs 740 Million Yuan EPC Contract for Offshore Wind Farm

Huaneng Power (601226) announced that it, along with China Power Construction Group Fujian Electric Power Survey and Design Institute, signed an EPC contract for the Chang Le offshore wind farm project, valued at about 740 million yuan (including tax). The company’s scope includes 10 wind turbines of 18–25 MW each, designed for deep-sea conditions and complex environments.

Jinguan Electric: Wins About 39.2 Million Yuan State Grid Procurement Project

Jinguan Electric (688517) announced it and its subsidiary Nanyang Jinguan Smart Switchgear Co., Ltd. won four lots in the State Grid’s 2026 ultra-high voltage project procurement, totaling approximately 39.2 million yuan, accounting for about 4.75% of its 2025 revenue.

CRRC: Wins Five Major Projects in Jan-Feb 2026, Totaling About 892 Million Yuan

CRRC (688009) announced that in January-February 2026, it won five key projects totaling about 892 million yuan, including four in the railway sector and one in urban rail transit, representing about 2.57% of its 2025 audited revenue.