Major shareholding reduction by Shandong Molong's shareholders; Geely Auto proposes to privatize Zeekr; Sanhua Intelligent Control plans to list on the Hong Kong Stock Exchange | Weekly market review
Weekly Market Review
Chinese A-shares
Last week, the Chinese A-share market rebounded significantly. The Shanghai Composite Index rose 1.92% cumulatively, the Shenzhen Component Index rose 2.29%, and the ChiNext Index rose 3.27%. In terms of sectors, the military, communication equipment, and banking sectors rose sharply, while the semiconductor and consumer sectors declined slightly.
Hong Kong Stocks
Last week, the Hong Kong stock market showed mixed performance. The Hang Seng Index rose 1.61% cumulatively, while the Hang Seng Tech Index fell 1.22% cumulatively. In terms of industries, real estate, electrical equipment, and banking performed well, while semiconductors and biomedicine had significant pullbacks.
US Stocks
Last week, the three major US stock indexes all made minor adjustments. The Dow Jones Industrial Average fell 0.16% cumulatively, the Nasdaq Composite Index fell 0.27% cumulatively, and the S&P 500 Index fell 0.47% cumulatively.
Weekly Positive News
Lizhong Group: Actively Promoting R & D and Customer Verification of Humanoid Robot Materials
Lizhong Group said at its earnings briefing on May 9 that its layout in the field of humanoid robots is based on its technological accumulation in the field of new aluminum alloy materials. Currently, it is actively promoting the R & D and customer verification of humanoid robot material products. (e Company)
Tangrenshen: Pig Sales Revenue in April Increased by 57.77% Year-on-Year
36Kr learned that Tangrenshen announced that in April 2025, the company's pig sales volume was 435,200 heads (including 415,500 commercial pigs and 19,700 piglets), a year-on-year increase of 37.98% and a month-on-month increase of 7.48%. The total sales revenue was 762.19 million yuan, a year-on-year increase of 57.77% and a month-on-month increase of 10.98%. From January to April 2025, the cumulative pig sales volume was 1.6976 million heads (including 1.6 million commercial pigs and 97,600 piglets), a year-on-year increase of 34.47%. The sales revenue was 2.94479 billion yuan, a year-on-year increase of 62.15%.
Geely Automobile: Proposes to Privatize Zeekr at $2.57 per Share
36Kr learned that Geely Automobile announced that on May 7, 2025, it submitted a non - binding offer letter to Zeekr, proposing to privatize Zeekr by acquiring all issued and outstanding Zeekr shares and American Depositary Shares (excluding those beneficially owned by the Group). The proposed purchase price is $2.57 per Zeekr share or $25.66 per American Depositary Share. This price represents a premium of approximately 13.6% over the closing trading price of the American Depositary Shares on the New York Stock Exchange on the last trading day and a premium of 20.0% over the volume - weighted average price of the American Depositary Shares on the New York Stock Exchange during the last 30 trading days up to the last trading day. As of the announcement date, the Group holds approximately 65.7% of the total issued and outstanding share capital of Zeekr. If the privatization proposal is implemented and completed, Zeekr will become a wholly - owned subsidiary of the Company, achieving privatization and delisting from the New York Stock Exchange.
Zheng Bei, Deputy Director of the National Development and Reform Commission: Improving the Long - term Mechanism for Private Enterprises to Participate in Major National Projects, and High - quality Projects with a Total Investment of About 3 Trillion Yuan to be Launched This Year
On May 8, Zheng Bei, Deputy Director of the National Development and Reform Commission, said at a press conference held by the State Council Information Office that the Law on Promoting the Development of Private Enterprises runs through the principles of equal treatment, fair competition, equal protection, and common development. The National Development and Reform Commission will focus on breaking barriers, expanding space, and optimizing services to promote implementation. In terms of expanding space, it supports private enterprises to actively participate in the construction of "two major" projects and the work of "two new" initiatives, and is accelerating the improvement of the long - term mechanism for private enterprises to participate in major national projects. The National Development and Reform Commission has launched a number of major projects in fields such as nuclear power and railways. Currently, the proportion of private capital participation in some nuclear power projects has reached 20%. In the fields of industrial equipment renewal and recycling, the proportion of private enterprise funds in some projects exceeds 80%. Zheng Bei revealed that this year, high - quality projects with a total investment of about 3 trillion yuan will be launched in key fields such as transportation, energy, water conservancy, new infrastructure, and urban infrastructure. (Securities Times)
Weekly Negative News
Maiwei Co., Ltd.: Shareholder Plans to Transfer 2% of the Company's Shares through Inquiry
36Kr learned that Maiwei Co., Ltd. announced that Suzhou Mai Tuo Venture Capital Partnership (Limited Partnership), a shareholder, plans to transfer a total of 5.567 million shares of the company through inquiry, accounting for 2% of the company's total share capital.
Runxin Technology: Controlling Shareholder Plans to Reduce Holdings by No More Than 3.00% of the Company's Shares
36Kr learned that Runxin Technology announced that Runxin Information, the company's controlling shareholder, plans to reduce its holdings of the company's shares by no more than 15,377,250 shares, that is, no more than 3.00% of the company's total share capital, through centralized bidding and block trading within three months after 15 trading days from the date of this announcement.
Shandong Molong: Shareholder Zhimeng Holdings Reduced Its Holdings of the Company's H - shares by 28.81 Million Shares
36Kr learned that Shandong Molong announced that Zhimeng Holdings, a shareholder of the company, reduced its holdings of the company's H - shares by 28.81 million shares through centralized bidding on May 9, 2025, with a reduction ratio of 3.61%. After the reduction, Zhimeng Holdings holds 16 million shares of the company, accounting for 2.01% of the total share capital.
GAC Group: Automobile Sales in April Decreased by 12.66% Year - on - Year
36Kr learned that GAC Group announced that in April 2025, the automobile production volume was 108,600 units, a year - on - year decrease of 25.74%. The cumulative production volume this year was 519,800 units, a year - on - year decrease of 5.33%. In April, the automobile sales volume was 116,400 units, a year - on - year decrease of 12.66%. The cumulative sales volume this year was 487,500 units, a year - on - year decrease of 10.22%.
IPO Message Board
New Stocks Listed
Junda Co., Ltd.: The Company's H - shares Were Listed on the Hong Kong Stock Exchange on May 8
36Kr learned that Junda Co., Ltd. announced that it is carrying out relevant work for issuing shares (H - shares) overseas and listing on the main board of the Hong Kong Stock Exchange. The company's global offering of H - shares this time is 63.4323 million shares (assuming the over - allotment option is not exercised). Based on the issue price of HK$22.15 per H - share, the estimated net proceeds from the global offering that the company will receive are approximately HK$1.29 billion. With the approval of the Hong Kong Stock Exchange, the 63.4323 million H - shares issued by the company (assuming the over - allotment option is not exercised) were listed and traded on the main board of the Hong Kong Stock Exchange on May 8, 2025.
Listings in Progress
Jianxin Superconducting's IPO Application on the Science and Technology Innovation Board Was Accepted
36Kr learned that on May 9, the official website of the Shanghai Stock Exchange disclosed that the initial public offering application of Ningbo Jianxin Superconducting Technology Co., Ltd. on the Science and Technology Innovation Board was accepted. This is the third company to have its application accepted on the Science and Technology Innovation Board this year.
The CSRC Approved the IPO Registration of Hangao Group on the Main Board of the Shenzhen Stock Exchange
36Kr learned that the China Securities Regulatory Commission (CSRC) approved the registration application of Hangao Group Co., Ltd. for its initial public offering of stocks and listing on the main board of the Shenzhen Stock Exchange.
Sanhua Intelligent Control: Plans to Issue No More Than 477 Million Overseas - Listed Common Shares and List on the Hong Kong Stock Exchange
36Kr learned that Sanhua Intelligent Control announced that it plans to issue no more than 477 million overseas - listed common shares and list on the Hong Kong Stock Exchange. The company recently received the "Record - filing Notice on Overseas Issuance and Listing of Zhejiang Sanhua Intelligent Control Co., Ltd." issued by the CSRC. The main contents of the record - filing notice include: the company plans to issue no more than 477 million overseas - listed common shares and list on the Hong Kong Stock Exchange; from the date of issuance of the record - filing notice to the end of this overseas issuance and listing, if major events occur to the company, it should report through the CSRC's record - filing management information system in accordance with relevant regulations on overseas issuance and listing of domestic enterprises; within 15 working days after the company completes the overseas issuance and listing, it should report the issuance and listing situation through the CSRC's record - filing management information system.
SAIC EnjoyDrive Completed a Series C Financing of Over 1.3 Billion Yuan and Plans to Go Public in Hong Kong
EnjoyDrive, the mobile travel strategic brand of SAIC Group, announced today that it has completed a Series C financing of over 1.3 billion yuan, supported by industrial funds and local governments. According to its introduction, this is the largest single - round financing in the domestic travel industry in the past three years. After the Series C financing, EnjoyDrive will combine the resources of SAIC Group and industrial partners to build a closed - loop autonomous driving ecosystem of "vehicle - technology - platform" based on the EnjoyDrive platform. It will jointly build an L4 - level Robotaxi fleet with its shareholder Momenta in Shanghai, with a planned fleet size of 200 units by the end of 2026. It is understood that EnjoyDrive has launched a plan to go public in Hong Kong. (Cailian Press)
Green Tea Group Seeks to Raise HK$1.2 Billion through a Hong Kong IPO
36Kr learned that according to an announcement from the Hong Kong Stock Exchange, Green Tea Group plans to issue approximately 168 million shares at a price of HK$7.19 per share. Through calculation, Green Tea Group will raise up to HK$1.2 billion (US$155 million). Trading is expected to start on May 16, and Citigroup and China Merchants Securities International are the joint sponsors.
Market News
Public Funds Usher in an Important Reform to Strengthen the Link with Investors' Interests
On May 7, the CSRC issued the "Action Plan for Promoting the High - quality Development of Public Funds". Through comprehensive and in - depth reforms, it strengthens the link between the public fund industry and investors' interests, enhances the stability of public fund investment behavior, improves the ability of public funds to serve investors, and develops and expands equity - based public funds, so as to better play the industry's functions. The "Action Plan" involves both the reform and adjustment of institutional mechanisms in aspects such as product design, investment operation, and market promotion within public fund industry institutions, as well as the optimization and improvement of institutional mechanisms in aspects such as administrative supervision and industry self - regulation. The reform measures involved in the document need to be refined and implemented through more than 20 supporting rules. The CSRC has formulated a schedule for the implementation of each policy measure one by one, and will subsequently control the pace of reform promotion and introduce one measure after another when it is mature. (Securities Times)
Shenzhen: Supports Leading Institutions to Strengthen Themselves through M&A, Organizational Innovation, etc.
36Kr learned that the Shenzhen Local Financial Supervision and Administration Bureau and the Shenzhen Regulatory Bureau of the CSRC issued the "Action Plan for Shenzhen to Leverage the Capital Market to Build an Industrial Financial Center (2025 - 2026)". It points out that it is necessary to build first - class investment banks and investment institutions and do a good job in the "five major articles" of finance. Support leading institutions to strengthen themselves through M&A, organizational innovation, etc., and encourage small and medium - sized institutions to develop differentially and operate with characteristics. Strengthen the supervision of investment banking business with the orientation of "the quality of listed companies", and promote securities companies to improve their internal control systems and enhance their professional quality. Guide leading securities companies to develop overseas business in an orderly manner, support enterprises to make good use of "two markets" and "two resources", and enhance their international influence.
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