（文章来源：证券日报） 证券日报网讯 1月12日，鸿合科技在互动平台回答投资者提问时表示，截至2026年1月9日，公司股东总 户数为16851户。 ...

证券代码：002955 证券简称：鸿合科技 公告编号：2026-001 鸿合科技股份有限公司 关于完成工商变更登记并换发营业执照的公告 统一社会信用代码：91110108556883208U 类型：已上市的中外合资股份有限公司 法定代表人：姚瑞波 成立日期：2010年05月28日 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 一、基本情况 鉴于鸿合科技股份有限公司（以下简称"公司"）控股股东、实际控制人已 发生变更，经公司 2025 年第三次临时股东大会审议通过，公司已顺利完成董事 会席位调整、董事改选、《公司章程》及配套制度修订。公司于 2025 年 12 月 22 日召开第三届董事会第十八次会议，审议通过了改选董事长、选举副董事长、 改选董事会专门委员会委员、聘任总经理和副总经理等相关议案。根据《公司章 程》的相关规定，公司法定代表人由孙晓蔷女士变更为姚瑞波先生。 具 体 内 容 详 见 公 司 于 2025 年 12 月 23 日 刊 登 在 巨 潮 资 讯 网 （www.cninfo.com.cn）、《证券时报》、《中国证券报》、《上海证券报》和《证 ...

Group 1 - Chery Holding Group's subsidiary, Hefei Ruicheng Private Equity Fund Co., Ltd., has completed a strategic acquisition of Honghe Technology Co., Ltd. [1] - The acquisition is recognized as the first case of a listed company acquisition led by an industrial fund after the release of the "Six Merger Rules" by the CSRC in September 2024 [2] - Honghe Technology is a leading enterprise in the smart interactive display industry, ranking second globally in the education market and first in the U.S. market [2] Group 2 - Chery Group aims for Honghe Technology to stabilize its existing business while expanding into a second main business, focusing on cost control and "opening up" as a core driver for future development [2] - A regular communication mechanism has been established between Chery Group's various departments and Honghe Technology's management team to enhance collaboration and resource sharing [3] - Ruicheng Fund will promote the maturation and upgrading of the group's industrial capital operation model, aiming to become an important platform for asset securitization and the cultivation of forward-looking and strategic businesses [3]

Core Viewpoint - Honghe Technology (002955) reported that as of December 31, 2025, the total number of shareholders is expected to be 17,101 [1] Summary by Category - Company Information - Honghe Technology has communicated to investors that the total number of shareholders will reach 17,101 by the end of 2025 [1]

Core Insights - The education big data industry in China is experiencing rapid growth, with the market size projected to increase from 1.8 billion yuan in 2015 to 53.516 billion yuan in 2024, representing a compound annual growth rate (CAGR) of 45.78% [1][10] - The industry is supported by the development of online education, particularly in the K12 sector, and the advancement of educational information technology and smart education [1][10] - The market is expected to continue expanding, with an estimated size of 66.896 billion yuan by 2025 [1][10] Industry Overview - Education big data refers to the collection of data generated during educational activities or collected based on educational needs, which has the potential to drive educational development and create significant value [3][9] - Current applications of education big data are primarily focused on adaptive learning and precise classroom teaching, with notable examples including smart learning companions and data-driven teaching tools [3][9] - The industry is characterized by a diverse range of participants, including leading data service providers, new entrepreneurial firms, large internet companies, and traditional educational information companies [10] Market Dynamics - The education big data industry is part of the broader big data sector, which has seen its market size grow from 3.6 trillion yuan in 2017 to an expected 30 trillion yuan by 2025, with a CAGR of 31.13% [7][9] - The industry is evolving from a focus on scale expansion to deep exploration and precise empowerment of existing educational processes and resources [5][10] Key Players - Notable companies in the education big data sector include iFLYTEK, Tsinghua Tongfang, Honghe Technology, and DouShen Education, among others [1][10] - The industry also includes emerging firms like Sanmeng Technology and Guangda Information Technology, which focus on deep data mining and application innovation in the education vertical [2][10] Development Trends - The future of education big data will see increased openness, moving towards systematic sharing across regions and industries while ensuring data security and privacy [14] - Innovative applications will expand beyond individual tools to become integral to the entire educational process, enhancing personalized teaching and data-driven decision-making [15][16] - The industry ecosystem is expected to mature, transitioning from a technology supplier-dominated market to a collaborative network of diverse stakeholders [17]

Core Viewpoint - The recent shareholder meeting of Honghe Technology (002955.SZ) marked a significant transition in control from the original shareholders to the Chery Group's CVC, establishing a balanced governance structure that is expected to benefit the company's future development [1][2]. Group 1: Board Restructuring - The new board of directors reflects a substantial change in the company's shareholder structure, with the controlling shareholder, Ruicheng Hongtu, adopting a "GP+LP" joint appointment model for board positions [1]. - The new chairman, Yao Ruibo, has a strong background in finance and industry investment, having held key positions in various financial institutions and previously served as the executive vice president of Anhui Xin'an Financial Group [1]. - Other board members include Wang Chenchen, representing Anhui Jiaokong Capital Fund, and Peng Ji, representing Wuhu Guozhi, both of whom are linked to significant local government investments [1]. Group 2: Governance and Management Stability - The arrangement of having both new board members and the original management team is seen as a strategic move to ensure stability while implementing reforms [2]. - The original chairman, Sun Xiaoqiang, remains as vice chairman and CEO, along with other long-serving executives, ensuring continuity in core operations [2]. - The combination of new strategic direction from the board and the operational stability from the existing management team is viewed as a robust strategy for the company's future growth and development [2].

Core Viewpoint - Chery CVC successfully acquired Honghe Technology (002955), marking the first completed transaction under the "Six Merger Guidelines" and establishing a new governance structure that integrates industry capital with listed companies [1][3] Group 1: Transaction Overview - The acquisition involved the transfer of 59,159,978 shares, giving Chery CVC a 25% stake and making it the controlling shareholder of Honghe Technology [1] - This transaction is significant as it represents a strategic move by Chery to leverage Honghe's strengths in education technology and display technology for cross-industry collaboration [2][5] - The deal is seen as a model for future industry capital acquisitions of listed companies, providing a replicable framework for similar transactions [3] Group 2: Financial Performance and Market Position - In 2024, Honghe Technology reported revenues of 3.525 billion yuan and a net profit of 222 million yuan, with a net profit margin of 6.13% and a gross margin of 28.01% [4] - The company has a debt-to-asset ratio of 28.05% and nearly 2.2 billion yuan in cash and financial assets [4] - Honghe's brand "Newline" holds a 22% market share in the U.S. and 9.5% in the EMEA region, with 55.36% of its revenue coming from international markets [4] Group 3: Governance Structure - The new board of directors was established on December 22, 2025, combining new and existing members to create a balanced governance structure [6] - Key figures include Yao Ruibo from the controlling shareholder, Wang Chenchen representing provincial state assets, and Peng Ji representing municipal state assets, enhancing the board's industry expertise [6][7] - The retention of former chairman Sun Xiaoqiang as vice chairman and CEO ensures continuity in management while integrating new strategic capabilities [7] Group 4: Strategic Implications - The integration of Honghe's education technology with Chery's smart automotive technology aims to create a new market segment combining education and smart vehicles [5] - The collaboration is expected to leverage both companies' strengths in overseas markets, enhancing their competitive edge in international expansion [5] - This acquisition is positioned as a pioneering example of industry capital integration, potentially transforming Honghe from an education technology leader to a diversified display solution provider [7]

Core Viewpoint - The acquisition of Honghe Technology by Chery CVC marks a significant milestone as the first completed transaction under the "Six Merger Guidelines," facilitating a smooth transition of control and exploring new avenues for industrial capital empowerment in listed companies [1][4]. Group 1: Transaction Overview - Chery CVC successfully acquired 25% of Honghe Technology's shares, making it the controlling shareholder, with the transfer of 59,159,978 shares completed on February 1 [1]. - The transaction is seen as a strategic move by Chery to gain access to the A-share capital market and align with local industrial upgrade strategies [4]. - The establishment of the investment fund, Ruicheng Hongtu, with a capital of 1.6 billion yuan, focuses on equity investment and asset management, indicating a robust backing for the acquisition [4][7]. Group 2: Strategic Integration - The unique value of this transaction lies in the deep integration of industrial capital and listed company resources, potentially leading to a new cross-industry collaboration between education and smart automotive sectors [2][8]. - Honghe Technology, a leader in educational information technology, reported a revenue of 3.525 billion yuan and a net profit of 222 million yuan in 2024, with a significant portion of its revenue coming from international markets [6]. - The collaboration between Honghe Technology's educational display technology and Chery's smart automotive technology is expected to create synergies and enhance market competitiveness [8]. Group 3: Governance Structure - The new board of directors, formed after the acquisition, combines experienced members from both the old and new management, creating a balanced governance structure that supports future development [10][11]. - Key appointments include Yao Ruibo from Ruicheng Fund, who brings extensive financial and investment experience, and Wang Chenchen, representing provincial state-owned assets, ensuring diverse representation [10]. - The retention of former chairman Sun Xiaoqiang as vice chairman and CEO preserves existing management expertise while integrating new strategic capabilities [11]. Group 4: Future Outlook - The successful integration of Honghe Technology as a platform for industrial capital consolidation is expected to lead to a transformation from an educational technology leader to a diversified display solution provider [11]. - The transaction serves as a benchmark for future acquisitions under the "Six Merger Guidelines," promoting the integration of industrial capital and listed companies [11].

此次改组是鸿合科技响应资本市场"并购六条"政策导向、引入战略投资人的关键落地步骤。作为"并购 六条"发布后首例CVC基金控股上市公司的案例，鸿合科技的本次变更具标杆意义。市场人士认为：瑞 丞基金作为奇瑞旗下CVC平台，其入主不仅有望为公司带来区域政策支持，更将打开产业协同的巨大 空间。 鸿合科技资金储备充沛、资产负债率低，具备良好的财务基础，在新董事会带领下，公司有望加速实现 技术、市场与资本的良性循环，开启新一轮成长周期。 本次股东大会选举姚瑞波、王陈琛、彭骥为非独立董事，宋利国、李姚矿、黄福平为独立董事，与留任 董事孙晓蔷共同组成第三届董事会。新董事会成员背景多元，覆盖金融投资、产业运营、法律风控等领 域，体现了"专业治理、产业赋能"的鲜明导向。同日召开的董事会选举姚瑞波为董事长、孙晓蔷为副董 事长，并聘任孙晓蔷为总经理，增聘张元来为副总经理，进一步完善了公司经营管理团队。 公开信息显示，本次履新的董事长姚瑞波，拥有深厚的金融行业背景与产业投资视野，先后于建设银 行、兴业银行、民生银行、长城国瑞证券等金融机构担任重要管理职务，并深耕产业投资领域，曾任安 徽新安金融集团常务副总裁、瑞丞基金投资与并购业务负责 ...

鸿合科技（002955）12月23日披露，截至12月20日公司股东户数为14599户，较上期（12月10日）减少 1126户，环比降幅为7.16%。这已是该公司股东户数连续第3期下降。 公司发布的三季报数据显示，前三季公司共实现营业收入24.57亿元，同比下降11.14%，实现净利润 8228.57万元，同比下降66.42%，基本每股收益为0.3500元，加权平均净资产收益率2.46%。 证券时报 数据宝统计，截至发稿，鸿合科技收盘价为29.47元，下跌1.70%，本期筹码集中以来股价累 计上涨2.04%。具体到各交易日，4次上涨，5次下跌。 ...