Ganzhou Yihao New Materials Co. Ltd. A

Yihao New Materials plans to issue A-shares to specific investors to raise total proceeds of no more than 1.8 billion yuan. After deducting issuance expenses, all proceeds will be used to increase capital and acquire no less than 78 percent equity in Mingfeng Electronics. This capital increase and acquisition is expected to meet the standards for a major asset restructuring. The target company, Mingfeng Electronics, is mainly engaged in the research, development, production and sales of high-performance copper foil, with a designed annual production capacity of 70,000 tonnes. On the same day, Xingshuaier announced that it is planning to purchase assets by issuing shares and paying cash, and to raise supporting funds. This transaction is expected not to constitute a major asset restructuring, nor a related-party transaction, and will not result in a change of the company's actual controller or constitute a backdoor listing. The company has applied for a trading halt starting from the market open on September 22.

Yihao New Materials disclosed its 2026 semi-annual report, achieving net profit attributable to the parent of 21.502 million yuan in the first half, turning from a loss to a profit year on year. The company achieved total operating revenue of 1.264 billion yuan, up 69.08 percent year on year; non-GAAP net profit was 19.9681 million yuan, turning from a loss year on year; basic earnings per share were 0.1299 yuan, and the weighted average return on equity was 1.44 percent. Net cash flow from operating activities was negative 288 million yuan, compared with negative 44.1474 million yuan in the same period last year. The company specialises in the research, development, production and sales of high-performance copper foil and downstream printed circuit boards.