Hangzhou Bio-Sincerity Pharma-Tech's (SHE:301096) controlling shareholders agreed to terminate the proposal to change the company's control, according to a Shenzhen bourse filing on Monday.
The decision was made with related parties due to the complexity of the matter.
The drug research and development company's shares slumped by less than 10% at the close.
China's smartphone shipments grew 12% in April, with local brands posting a 14% expansion compared to 2% for iPhone, Jefferies said in a recent release.New models from Huawei and Honor have likely anchored the growth in local brands, the equity research firm said.Local brands' inventory days grew by four on a six-month rolling basis, while those for iPhone declined by 12, Jefferies said.The research firm sees lingering pressure on local brands due to a rapid rise in memory costs and high inventory levels.Brands have also toned down promotions during the 618 shopping festival amid increasing memory prices and margin pressure, with the average discount on local brands' one-year-old flagship models dropping to 22% from 26% last year, according to Jefferies.For Apple's Tmall, the discount on the iPhone 17 models was 8%, compared with 20% for the iPhone 16 at the same time in 2025, the research firm said.
Mirae (KRX:025560) secured a contract from China's Yiling Trading for the supply of semiconductor inspection equipment, according to a Monday filing with the Korean Exchange.The deal, valued at 15.4 billion won, is valid until Dec. 15, the filing said.Shares of the company fell nearly 11% at market close.
Yunnan Water Investment (HKG:6839) plans to seek shareholder approval for a guarantee mandate of up to 2 billion yuan for the company and its subsidiaries, according to a Friday Hong Kong bourse filing.The proposed guarantees would support bank credit facilities and other financing arrangements for the group's onshore and offshore subsidiaries, as well as guarantees among subsidiaries.The company said the mandate would give the group greater flexibility to secure financing. Shareholders will vote on the proposal at the annual general meeting on June 26, the filing said.Shares of the water supply and waste treatment company were up nearly 5% in Monday afternoon trade.