Jitai Shares: Liquid Cooling Silicone Oil Had No Sales in H1, Still in Internal Verification

Major Developments

Hui Lv Ecology to Invest 309 Million Yuan in R&D and Production Base

Hui Lv Ecology announced that its controlled subsidiary, Wuhan Junheng Technology, plans to invest in a "Junheng Technology R&D and Production Base Project" in Wuhan East Lake High-Tech Zone, with a total estimated investment of 309 million yuan. The funds will come from the company's own or self-raised capital.

Upon completion, Junheng Technology's existing production lines—currently with an annual capacity of 1.5 million units—will undergo a comprehensive technology upgrade. The project will also add a new production line for high-rate optical modules with an annual capacity of 2 million units, bringing the total annual capacity in the Wuhan region to 3.5 million units. Thereafter, Junheng Technology's existing production facility will be decommissioned.

Hui Lv Ecology stated that the project aligns with the company's overall strategic plan. Once completed, it will enhance Junheng Technology's production scale, R&D, and manufacturing capabilities, helping to consolidate the company's competitive position in the optical module sector.

Jitai Shares (2 Consecutive Limit-Up Days): Liquid-Cooling Silicone Oil Generated No Sales in H1 2026

Jitai Shares, which has seen two consecutive daily limit-up moves, issued a statement on abnormal stock trading fluctuations. In the first half of 2026, the company's total revenue from the new energy sector was 28.4545 million yuan, accounting for only 5.88% of total revenue—a relatively low proportion.

The company noted that this business segment is affected by factors such as downstream industry policies, changes in market demand, market competition, and customer verification progress. Future business development and its impact on the company's operating results remain uncertain.

Specifically, the company's liquid-cooling silicone oil generated no sales in H1 2026. The product is currently in the internal application verification stage and must also undergo customer verification. Only after relevant verification is completed and requirements are met can the product enter small-batch production. Uncertainties remain regarding verification progress and results, small-batch production timelines, customer acquisition, subsequent order procurement, and large-scale sales.

Enjie Shares: Controlled Subsidiary to Acquire 45% Stake in Hubei Enjie for 1.15 Billion Yuan

Enjie Shares announced that its controlled subsidiary, Shanghai Enjie, has signed an equity transfer agreement with EVE Energy to acquire EVE Energy's 45% stake in Hubei Enjie New Material Technology Co., Ltd. for 1.15 billion yuan, using自有 and self-raised funds. Upon completion, Shanghai Enjie will hold 100% of Hubei Enjie.

Kangqiang Electronics (2 Consecutive Limit-Up Days): Raw Material Costs Significantly Impact Revenue

Kangqiang Electronics, which has seen two consecutive daily limit-up moves, issued a statement on abnormal stock trading fluctuations. The company's main business is the manufacturing and sale of semiconductor packaging materials, including lead frames and bonding wires. The primary raw materials for its main products are precious metals such as gold, copper, silver, and zinc. Raw material costs have a significant impact on the company's operating revenue, and any future price adjustments in raw materials will put pressure on both revenue and net profit.

Orientec: Vector Network Analyzer Sales Account for Small Revenue Share

Orientec issued a statement on abnormal stock trading fluctuations. The vector network analyzers sold by the company involve multiple domestic and international brands. These products are all agency products, not self-developed, and the company does not engage in their manufacturing.

Revenue from vector network analyzers, related accessories, software, and solutions was 124 million yuan in 2025, accounting for 3.84% of the company's 2025 operating revenue. In the first half of 2026, such revenue was 48.4324 million yuan, representing 3.62% of the company's H1 2026 operating revenue. These revenue shares are relatively small and have limited impact on the company's performance.

Jinglan Technology to Transfer 77.7152% Stake in Zhongke Dingshi via Online Auction

Jinglan Technology announced that it plans to sell a 77.7152% equity stake in Zhongke Dingshi Environmental Engineering Co., Ltd. ("Zhongke Dingshi") along with related creditor's rights (collectively, the "subject assets") through a public online auction. To improve asset disposal efficiency and attract potential bidders, the company will set the initial auction starting price at 50 million yuan.

If the transaction is completed, the company (including its subsidiaries) will no longer hold equity or creditor's rights in Zhongke Dingshi, and Zhongke Dingshi will be deconsolidated from the company's financial statements. If the subject assets are sold at the initial auction starting price of 50 million yuan, the company expects to record a disposal loss of approximately 55.1786 million yuan on a consolidated basis (based on financial data as of June 30, 2026).

Jingyeda: Actual Controller and Chairman Qian Rui Released from Detention

Jingyeda announced that it has received a "Notice of Release from Detention" from the relevant supervisory authority, confirming that the compulsory detention measures against the company's actual controller and chairman, Qian Rui, have been lifted. The company's production and operations remain normal.

Wangfujing: Bijie Guomao Shopping Center to Open on September 28

Wangfujing announced that its Bijie Guomao Shopping Center will officially open for business on September 28. As of now, the company operates a total of 79 large-scale comprehensive retail stores nationwide (including one offshore duty-free store), along with two port duty-free stores and two city duty-free stores.

Jingwang Electronics: Final H-Share Offering Price Set at HK$69.88

Jingwang Electronics announced that the final price for its H-share offering has been set at HK$69.88 per share. Trading on the Main Board of the Hong Kong Stock Exchange is expected to commence on September 29.

Robotechnik: Final H-Share Offering Price Set at HK$436

Robotechnik announced that the final price for its H-share offering has been set at HK$436 per share. Trading on the Main Board of the Hong Kong Stock Exchange is expected to commence on September 29.

Tianqi Shares: Share Placement Application Approved by CSRC

Tianqi Shares announced that on September 24, it received approval from the China Securities Regulatory Commission (CSRC) for its application to issue shares to specific target investors.

Share Increases and Reductions

Heda Technology: Shareholder and Director Plan to Reduce Holdings by Up to 4.74%

Heda Technology announced that shareholder Gongqingcheng Dongxing Boyuan Investment Center (Limited Partnership), holding 4.64% of shares, plans to reduce its holdings by up to 4.9781 million shares (4.64% of total share capital) through centralized竞价 and block trading within three months starting three trading days from now. Additionally, company director Wang Xiaopeng plans to reduce his holdings by up to 108,800 shares (0.10% of total share capital) through centralized竞价 trading within three months starting 15 trading days from now.

Hongyu Shares: Senior Executive Liu Zhihong Plans to Reduce Holdings by Up to 0.59%

Hongyu Shares announced that senior executive Liu Zhihong, holding 2.53% of shares, plans to reduce his holdings by up to 1 million shares (0.59% of total share capital) through centralized竞价 trading within three months starting 15 trading days from now.

Zhongke Feice: Concert Party of Actual Controller Plans to Reduce Holdings by Up to 0.28%

Zhongke Feice announced that Shenzhen Xiaonao Laboratory Investment Enterprise (Limited Partnership), a concert party of the company's actual controller, plans to reduce its holdings by up to 1 million shares (0.28% of total share capital) through centralized竞价 trading within three months starting 15 trading days from now.

Refinancing

Golden River: Plans Private Placement to Raise Up to 1.5 Billion Yuan

Golden River announced that it plans to issue shares to specific target investors to raise up to 1.5 billion yuan. After deducting issuance expenses, the proceeds will be used for:

• High-end intelligent equipment industrialization projects for sodium-ion batteries, consumer lithium batteries, solid-liquid batteries, and new energy storage batteries
• R&D and construction projects for dry electrode and solid-state battery high-end intelligent equipment
• Silicon-based materials and polymer materials construction projects (Phase I)
• R&D and construction projects for organic silicon supercritical physical foaming and metal rubidium-cesium vacuum thermal reduction high-end intelligent equipment
• Supplementary working capital

Major Contracts

Sichuan Meifeng: Subsidiary to Sign Approximately 79.2 Million Yuan Chemical Product Procurement Contract

Sichuan Meifeng announced that its wholly-owned subsidiary, Sichuan Meifeng Jialan Environmental Protection Technology Co., Ltd. ("Jialan Company"), plans to sign a "Chemical Product Framework Procurement Contract Agreement" with Tianjin Sinopec Yuetai Technology Co., Ltd. ("Tianjin Yuetai"). Under the agreement, Jialan Company will supply diesel exhaust treatment fluid (i.e., automotive urea solution) to Tianjin Yuetai. The estimated supply volume is 60,600 tons, with a contract value of approximately 79.2 million yuan. The contract is valid from the date of signing until August 31, 2028.

Jindun Shares: Recently Won Projects Totaling 80.6339 Million Yuan

Jindun Shares announced that it has recently won the following projects:

• Shenzhen Urban Rail Transit Line 15, Xili Comprehensive Transportation Hub, and Line 25 Phase I: Air valve equipment and service procurement (31.6246 million yuan) and fan equipment and service procurement (29.5982 million yuan)
• Shenyang Metro Line 9 Phase II and Shenyang Metro Line 10 (Zhangshabu-Dingxiang Street): Various fans and silencers (19.411 million yuan)

The total value of these winning bids is 80.6339 million yuan, accounting for 23.4% of the company's audited operating revenue for fiscal year 2025. The company expects that signing formal contracts and successfully implementing these projects will have a positive impact on its future operating results and market expansion.