Core Viewpoint - The company JunDa Co., Ltd. (002865) announced a share reduction plan by its controlling shareholder, Jindi Technology, which will not significantly impact the company's governance structure or control [1][2]. Group 1: Share Reduction Announcement - Jindi Technology, holding 46,517,062 shares (15.90% of total shares), plans to reduce its holdings by up to 3% of the total shares excluding repurchased shares, equating to 8,725,435 shares over three months [1]. - The reduction will occur through centralized bidding or block trading, with a maximum of 2,908,478 shares (1%) via centralized bidding and 5,816,957 shares (2%) via block trading [1]. Group 2: Financial Implications - Based on the closing price of 72.81 CNY on January 12, the estimated cash amount from the share reduction is approximately 635 million CNY [2]. - The company stated that this share reduction will not lead to a change in control or significantly affect its future operations [2]. Group 3: Historical Financial Data - JunDa Co., Ltd. was listed on the Shenzhen Stock Exchange on April 25, 2017, raising a total of 271.5 million CNY from an initial public offering (IPO) [3]. - The company issued convertible bonds in December 2018, raising a total of 320 million CNY, with a net amount of 306.71 million CNY after expenses [3][4]. - In June 2023, the company raised approximately 2.776 billion CNY through a private placement of shares, with a net amount of approximately 2.738 billion CNY after deducting issuance costs [5].

Core Viewpoint - The data indicates significant capital inflows into various stocks, highlighting investor interest in specific sectors such as power equipment, communication devices, and gaming [1][2][3] Group 1: Stock Performance and Capital Inflows - TBEA (特变电工) saw a capital inflow of 1.846 billion, with a price increase of 10.01% [2] - Haige Communication (海格通信) experienced a capital inflow of 1.661 billion, with a price increase of 10% [2] - ZQ Game (掌趣科技) had a capital inflow of 0.791 billion, with a notable price increase of 14.91% [2] - Yonyou Network (用友网络) attracted 0.768 billion in capital, with a price increase of 7.87% [2] - Shanghai Construction (上海建工) received 0.603 billion, with a price increase of 10.14% [2] Group 2: Sector Analysis - The power equipment sector, represented by TBEA, shows strong investor confidence with significant capital inflows [2] - The communication device sector, including Haige Communication and Lian Te Technology (联特科技), also reflects positive investor sentiment [2][3] - The gaming industry, represented by ZQ Game and Century Huaman (世纪华通), demonstrates robust growth potential with substantial capital inflows [2][3] - The education sector, represented by Zhonggong Education (中公教育), shows a healthy capital inflow of 0.508 billion, indicating investor interest [2] - The energy metal sector, represented by Ganfeng Lithium (赣锋锂业) and Tianqi Lithium (天齐锂业), continues to attract investment, reflecting ongoing demand in the market [2][3]

Core Viewpoint - The recent announcement by China's Ministry of Finance and State Taxation Administration regarding the adjustment of export tax rebate policies for photovoltaic products is expected to impact the industry significantly, particularly in the battery sector, leading to short-term export surges and long-term structural changes in the market [1]. Group 1: Policy Changes - The export VAT rebate rate for battery products will be reduced from 9% to 6% starting April 1, 2026, and will be completely eliminated from January 1, 2027 [1]. - This policy change is anticipated to create a rush in battery exports in 2026, intensifying supply-demand tensions in lithium mining and lithium hexafluorophosphate sectors [1]. Group 2: Market Impact - The adjustment is expected to lead to the elimination of outdated domestic production capacities in the long run, optimizing the battery industry landscape [1]. - Companies with overseas production capabilities are likely to benefit from these changes, as the market dynamics shift [1]. Group 3: ETF Performance - The Huaxia Photovoltaic ETF (515370) experienced a decline of 1.83%, while its constituent stocks, such as Junda Co., saw gains exceeding 8% [1]. - The ETF tracks the CSI Photovoltaic Industry Index, which includes a comprehensive range of companies across the photovoltaic supply chain, reflecting an 83.64% photovoltaic content, ranking first in the market [1].

作为光伏电池龙头企业，钧达股份近年来率先实现N型TOPCon电池大规模量产，但受光伏行业市场环 境影响，其于2025年前三季度亏损4.19亿元。 【钧达股份控股股东拟减持不超3%股份 曾布局"太空光伏"股价飙升】1月12日，钧达股份 （002865.SZ、2865.HK）发布公告称，控股股东海南锦迪科技投资有限公司（以下简称"锦迪科技"）计 划在公告披露之日起15个交易日后的3个月内，通过集中竞价或大宗交易方式减持不超过钧达股份剔除 回购专用账户股份后总股本的3%，即8725435股。 若以当日收盘价72.81元/股估算，锦迪科技本次减持将套现约6.35亿元。 公告显示，锦迪科技持有钧达股份46517062股，占总股本的15.9%。本次减持股份来源于钧达股份首次 公开发行前取得的股份以及利润分配所送红股。 钧达股份方面表示，控股股东减持是出于自身资金安排，不会对公司治理结构、股权结构及未来持续性 经营产生重大影响，也不会导致钧达股份控制权发生变更。 值得一提的是，钧达股份近日宣布已与尚翼光电达成战略合作，拟投资布局钙钛矿电池技术在太空能源 领域的应用，切入"太空光伏"赛道。在此期间，其股价飙升，录得多个涨停板 ...

Core Viewpoint - The controlling shareholder of Hainan Junda New Energy Technology Co., Ltd., Jindi Technology, plans to reduce its shareholding by up to 3% of the total share capital, amounting to 8,725,435 shares, due to personal funding needs [1][3]. Group 1: Shareholder Information - Jindi Technology holds 46,517,062 shares, representing 15.90% of the company's total share capital and 15.99% of the total share capital excluding repurchased shares [2]. Group 2: Details of the Reduction Plan - The reduction will occur through centralized bidding or block trading, with a maximum of 2,908,478 shares (1% of total share capital excluding repurchased shares) through centralized bidding and 5,816,957 shares (2% of total share capital excluding repurchased shares) through block trading [3]. - The reduction period is set for three months starting 15 trading days after the announcement [3]. - The selling price will be determined based on market conditions at the time of the sale [3]. - Jindi Technology has committed to adhering to previous commitments regarding shareholding intentions and does not have any inconsistencies with previously disclosed information [3].

Mergers and Acquisitions - Shengda Resources plans to acquire 55% equity of Guangxi Laibin Jinshi Mining Co., Ltd. for 269.5 million yuan, with core assets including mining rights for various mineral resources [1] - Zhongyuan Environmental Protection intends to acquire 100% equity of Gevo Company and Xinhong Company through public bidding, aiming to enhance the synergy in sludge disposal and resource utilization [2] Shareholding Changes - Hengshi Technology's shareholder, New Basis Information Technology Group Co., Ltd., plans to increase its shareholding by 1.5% to 3% within six months using self-raised funds [3] - China Electric Port reports that the National Integrated Circuit Industry Investment Fund has reduced its holdings by 7.5969 million shares, accounting for approximately 0.999724% of the total share capital, and no longer holds over 5% [4] - Baiwei Storage announces that the National Integrated Circuit Industry Investment Fund II plans to reduce its holdings by no more than 934,260 shares, representing up to 2% of the total share capital [5] - Junda Co., Ltd. states that its controlling shareholder, Hainan Jindi Technology Investment Co., Ltd., plans to reduce its holdings by up to 3%, equivalent to 872,540 shares [6] Regulatory Issues - ST Huilun has received an administrative penalty decision from the China Securities Regulatory Commission for failing to disclose fund occupation matters and inflating costs and revenues, resulting in a fine of 3 million yuan [7] - Xiong Plastic Technology has been ordered to rectify due to failure to disclose related party transactions, violating relevant regulations [8]

Group 1 - The controlling shareholder of JunDa Co., Ltd. plans to reduce its stake by up to 8.7254 million shares, representing 3% of the total share capital after excluding shares in the repurchase account, due to funding needs [1] - As of the announcement date, the controlling shareholder holds 46.5171 million shares, accounting for 15.90% of the total share capital [1] - JunDa Co., Ltd. has gained significant market attention due to its strategic layout in the space photovoltaic sector, particularly following a partnership with Hangzhou Shangyi Optoelectronics Technology Co., Ltd. [3] Group 2 - The strategic cooperation agreement with Shangyi Optoelectronics focuses on the research and industrialization of flexible perovskite technology for space energy applications [3] - The management of JunDa Co., Ltd. indicated that the space photovoltaic market has enormous potential, with the low Earth orbit satellite sector expected to generate trillions in value [3] - Since the announcement of the partnership, the company's stock price has experienced a cumulative increase of 63.43% from December 24, 2025, to January 12, 2026, and a maximum increase of 111% from the low point on December 5, 2025 [3] Group 3 - Despite the stock price surge, the company's main photovoltaic business has not shown significant improvement, reporting a net loss of 419 million yuan for the first three quarters of 2025, with a year-on-year increase in losses of 0.48% [4] - The company's cash flow has deteriorated, with a net cash flow from operating activities of -855 million yuan, a decrease of 222.32% year-on-year [4] - The international trade situation and tariff policies have impacted the planned investment progress of a 5GW high-efficiency battery production base in Oman, with a total investment expected to reach 280 million USD [4] Group 4 - The strategic cooperation agreement with Shangyi Optoelectronics is preliminary and does not have legal binding force, indicating uncertainty in the specific product development and investment collaboration [5]

Core Viewpoint - The controlling shareholder of JunDa Co., Ltd., Hainan Jindi Technology Investment Co., Ltd., plans to reduce its stake by up to 3% due to its own funding needs, which may lead to a cash-out of approximately 635 million yuan if fully executed [1][2][4]. Shareholder Reduction Plan - Jindi Technology intends to reduce its holdings by a maximum of 8.7254 million shares, representing about 3% of the total share capital after excluding repurchased shares [1][4]. - The reduction will occur through a combination of centralized bidding (up to 2.9085 million shares, or 1%) and block trading (up to 5.817 million shares, or 2%) [1][2]. Current Shareholding Status - As of the announcement date, Jindi Technology holds 46.5171 million shares, accounting for 15.90% of the total share capital and 15.99% of the total share capital after excluding repurchased shares [2][3]. - Jindi Technology is the second-largest shareholder, with approximately 34% of its shares (about 15.8343 million shares) pledged [2][3]. Impact on Company Governance - The company stated that the planned share reduction will not significantly impact its governance structure, ownership structure, or future sustainability [4]. - The timing, quantity, and price of the share reduction remain uncertain and will depend on market conditions and the company's stock price [4]. Recent Stock Performance - JunDa Co., Ltd. has seen a significant increase in its stock price, nearly doubling with a 98.61% rise over 20 trading days from December 12, 2025, to January 12, 2026 [5]. - The company has issued three announcements regarding stock price fluctuations during this period, confirming that its operational status remains normal [5]. Strategic Cooperation - JunDa Co., Ltd. signed a preliminary strategic cooperation framework agreement with Hangzhou Shangyi Optoelectronics Technology Co., Ltd. to explore flexible perovskite technology for space applications [6][7]. - The agreement is non-binding and does not involve specific financial commitments, indicating that the details of the collaboration are still under discussion [6][7].

Summary of Key Points Core Viewpoint - On January 12, several companies disclosed their shareholding changes, with notable increases in shareholdings from 恒实科技 and 奥锐特, while 16 A-share listed companies announced share reductions [1][2]. Group 1: Shareholding Increases - 恒实科技's controlling shareholder, 新基集团, plans to increase its stake by 1.5% to 3% [2]. - 奥锐特 intends to adjust its share repurchase price ceiling to no more than 35 yuan per share [2]. Group 2: Shareholding Reductions - 立中集团's five executives plan to reduce their holdings by no more than 0.0642% [2]. - 钧达股份's second largest shareholder, 控股股东锦迪科技, intends to reduce its stake by no more than 3% [2]. - 南兴股份's controlling shareholder, 南兴投资, has reduced its holdings by a total of 366,900 shares as of January 12 [2]. - 中国核建's second largest shareholder reduced its holdings by 7,866,600 shares from January 7 to 9, bringing its stake down to 10% [2]. - 天银机电's largest shareholder, 澜海瑞兴, reduced its holdings by 1,245,300 shares on January 12 [2]. - 信维通信's actual controller and chairman, 彭浩, plans to reduce his stake by no more than 1% [2]. - 中电港's fourth largest shareholder recently reduced its holdings by 7,596,900 shares, bringing its stake below 5% [2]. - 佰维存储's second largest shareholder, 国家集成电路基金二期, plans to reduce its stake by no more than 2% [2]. - 青木科技's largest and third largest shareholders recently reduced their holdings by a total of 1,937,400 shares [2]. - 长芯博创's shareholders plan to reduce their holdings by no more than 2.55% [2]. - 趣睡科技's shareholders plan to reduce their holdings by no more than 2.6% [2]. - 卓越新能's controlling shareholder, 龙岩卓越投资, plans to reduce its stake by no more than 3% [2].

Group 1 - The core point of the article is that JunDa Co., Ltd. (002865.SZ) announced that its controlling shareholder, Hainan Jindi Technology Investment Co., Ltd., plans to reduce its holdings by up to 3% of the total share capital, excluding shares in the repurchase special account, within three months after 15 trading days from the announcement date [1] Group 2 - The reduction will be executed through centralized bidding or block trading methods [1]