Latest Express on Major Events Announcements of Shanghai and Shenzhen Listed Companies on the Evening of March 16

Shanghai and Shenzhen listed companies released announcements on the evening of March 16. Here is a summary of important notices.

【Major Events】

Yongzhen Co.: Plans to invest 480 million yuan to build an annual production of 70,000 tons of ultra-wide thin-walled flat extruded aluminum profiles and deep processing products technical transformation project

Yongzhen Co. (603381) announced on March 16 that to implement the company’s overall strategic plan, fully leverage the industrialization advantages of the flat extrusion technology, and extend the high-end aluminum alloy material industry chain, the company plans to carry out a technical transformation project in its existing factory in Changzhou, Jiangsu Province, with an annual capacity of 70,000 tons of ultra-wide thin-walled flat extruded aluminum profiles and deep processing products. The total investment for this project is 480 million yuan.

Xiangyou Technology: Under investigation by the CSRC for suspected illegal information disclosure

Xiangyou Technology (600476) announced on March 16 that it recently received a notice of case filing from the China Securities Regulatory Commission (CSRC). Due to suspected illegal disclosure of information, the CSRC has decided to file a case against the company. Currently, the company’s operations and business are normal. During the investigation, the company will actively cooperate with the CSRC’s investigation and strictly fulfill its information disclosure obligations in accordance with relevant laws and regulations.

Chen Guang Co.: Plans to spin off its controlling subsidiary KeliPu Technology Group for listing on the Hong Kong Stock Exchange

Chen Guang Co. (603899) announced on March 16 that it plans to spin off its controlling subsidiary KeliPu Technology Group for listing on the Hong Kong Stock Exchange. KeliPu Technology Group mainly provides enterprise general material digital procurement services, offering comprehensive digital procurement solutions including one-stop office supplies, MRO industrial products, marketing gifts, and employee benefits for state-owned enterprises, financial institutions, governments, Fortune 500 companies, and other large corporate clients. It has an independent operational system separate from the parent company.

Duofuluo: Yifeng Electronics has not established any form of business cooperation, brand licensing, or product manufacturing relationship with Shufu Xiang, Zengqiao Food, or other companies

Duofuluo (002407) announced on March 16 that after verification, Yifeng Electronics is a subsidiary of Duofuluo, with 2025 revenue of 31.152 million yuan and a net loss of 3.3872 million yuan, accounting for a small proportion of the company’s consolidated revenue and net profit (unverified 2025 data). The company confirmed that Yifeng Electronics has not established any business cooperation, brand licensing, or product manufacturing relationships with Sichuan Shufu Xiang Food Co., Ltd. (“Shufu Xiang”) or Chongqing Zengqiao Food Co., Ltd. (“Zengqiao Food”). Its production and sales activities are unrelated to the company and its subsidiaries.

Chitianhua: Recent methanol market prices have slightly increased; the company’s methanol products are not exported

Chitianhua (600227) announced on March 16 that recent market prices for methanol have slightly increased. As chemical product prices are cyclical and volatile, future price fluctuations are uncertain. Currently, the company does not export methanol, and overall market demand remains stable, so short-term impact on performance is unlikely. The market price of the company’s main chemical product, urea, remains stable. Investors are advised to invest rationally and be aware of risks.

Suda Co.: Actual controller and chairman Li Xiyuan has been detained

Suda Co. (001277) announced on March 16 that it received a notice from Li Xiyuan’s family that on March 13, 2026, he was detained by the Bengbu City Bengshan District Supervisory Committee, which issued a case filing notice and detention notice. The company’s actual controller and chairman Li Xiyuan has been detained. As of this announcement, other directors and senior management are performing their duties normally, and the company’s control remains unchanged. Operations are normal, and this matter is not expected to significantly impact daily business. The company has not received any investigation or cooperation documents from authorities, and the progress and conclusion of the detention are unknown.

Xuelang Environment: Preparing to initiate pre-restructuring investor selection; stock to suspend trading from tomorrow

Xuelang Environment (300385) announced on March 16 that it will start the process of selecting investors for pre-restructuring, which involves uncertainties. The company’s stock will suspend trading from the morning of March 17, 2026, for no more than two trading days upon application.

Fulaite: Plans to acquire some equity of the associate company Shuangquxian at 0 yuan

Fulaite (605566) announced that Shuangquxian is an associate company in which the company directly holds 30% equity, and its related party Hangzhou Yuanjia Enterprise directly holds 30%. Hangzhou Yuanjia plans to transfer its 30% stake to the company. Since Hangzhou Yuanjia has not yet paid in registered capital, the company will acquire its 30% stake at zero yuan. After the transaction, the company will hold 60% of Shuangquxian, which will become a subsidiary and be consolidated.

Hengshun Vinegar: Completed the expansion project of 30,000 tons/year brewing vinegar

Hengshun Vinegar (600305) announced on March 16 that the company’s 2021 fundraising project, the “Expansion of 30,000 Tons/Year Brewing Vinegar,” has been completed. The project was built and operated by its wholly owned subsidiary Shanxi Hengshun Laocheng Vinegar Co., Ltd., and has recently started operation. This will help the company further expand its market share of vinegar in northern China, consolidating its industry position and supporting sustainable development.

Sanlian Trench: Recently experienced large fluctuations in prices of major chemicals and products; no significant impact on profitability or gross margin

Sanlian Trench (600370) issued a risk warning on March 16, stating that due to geopolitical and international energy price influences, prices of major chemicals and company products have fluctuated significantly recently. However, the company’s main business remains unchanged, and there is no obvious impact on profitability or gross margin.

Gao Ling Information: Planning to acquire control of Kairui Xing Tong; stock to suspend from tomorrow

Gao Ling Information (688175) announced on March 16 that it is planning to acquire control of Kairui Xing Tong through issuing shares and cash, and raising supporting funds. The transaction is still in planning, and the valuation of Kairui Xing Tong has not been finalized. The transaction is expected to constitute a major asset reorganization. The company’s stock will suspend trading from March 17, 2026, for no more than ten trading days.

Kangda New Materials: Expected 2025 performance to turn profitable due to increased demand for wind turbine blades

Kangda New Materials stated during institutional research that it expects to turn profitable in 2025, mainly driven by a significant increase in sales of adhesives and special resin new materials, with the wind power industry’s improved outlook boosting demand and sales of wind turbine blades. The company has also optimized its industrial layout and improved asset quality to enhance overall profitability. Details will be based on the 2025 annual report.

Tuopu Group: Plans to establish a 300 million yuan fund mainly investing in advanced intelligent manufacturing, integrated circuits, and emerging industries

Tuopu Group (601689) announced on March 16 that it will set up a fund with 300 million yuan, mainly investing in unlisted companies in advanced manufacturing, integrated circuits, new energy, robotics, new materials, and artificial intelligence. The fund will be established through a partnership with Ningbo Tuowei Hangke Venture Capital Partnership.

Shanghai Airport: Plans to invest 1.469 billion yuan to build Pudong International Airport operation support base

Shanghai Airport (600009) announced on March 16 that it will invest 1.469 billion yuan to build the Pudong International Airport operation support base, and seek bank loans of up to 1.1 billion yuan. The project is located in the southern work area of Phase 4 of Pudong Airport, covering about 87,000 square meters with a total construction area of approximately 117,100 square meters. Construction is scheduled to start in October 2026 and be completed by 2028.

Sanlian Forging: Plans to invest about 400 million yuan to build a high-temperature alloy blade production line

Sanlian Forging (001282) announced that its wholly owned subsidiary Wuhu Zhaolian plans to build a high-temperature alloy blade production line, mainly producing gas turbine blades, large ring forgings, high-end engine blades, and other large ring forgings. The project will leverage existing technology and industrial base, supported by policies, to meet high-end market demands. The total investment is about 400 million yuan, with completion planned within three years.

Lankao Technology: Terminated salt lake lithium extraction operation contract

Lankao Technology (300487) announced that it has terminated the sales contract for a 3,000-ton battery-grade lithium carbonate extraction system with HANACOLLAS A. The contract, valued at 25 million USD, remains valid and partially fulfilled, but due to changes in project planning, both parties agreed to terminate the contract. This will not significantly impact the company’s current operations or financial status.

ST Wanfang: Stock may be delisted due to market value falling below 500 million yuan

*ST Wanfang (000638) announced on March 16 that its stock closed at 1.56 yuan per share, with a total market value of 486 million yuan, below the 500 million yuan threshold. There is a risk of delisting due to low market value.

Besm: Controlling shareholder Chen Feng received administrative penalty notice

Besm (300796) announced on March 16 that its actual controller Chen Feng recently received an “Administrative Penalty Notice” from the Zhejiang Regulatory Bureau of the CSRC. He was warned and fined 1.5 million yuan for failing to fulfill the mandatory bid obligation and 3 million yuan for concealing shareholding changes, totaling 4.5 million yuan. The penalties involve the company’s controlling shareholder and do not affect the company’s operations or management. The company’s current operations and financial condition are normal, with no undisclosed major information.

Yunnan Energy Investment: Jiaozi photovoltaic project connected to grid at full capacity

Yunnan Energy Investment (002053) announced on March 16 that its wholly owned subsidiary Huize Yunneng Clean Energy connected the Jiaozi photovoltaic project to the grid at full capacity on March 14, 2026. The company’s total installed capacity of renewable energy (including wind and solar) now reaches 2,644,860 kW, with wind power at 2,418,860 kW and solar at 226,000 kW.

Watson Biotech: Planning to issue A-shares to specific investors; stock to suspend from March 17

Watson Biotech (300142) announced on March 16 that it is planning to issue A-shares to specific investors, which may lead to a change in control. The stock will suspend trading from March 17, 2026, for no more than two trading days.