Russia announced on Monday strikes on Ukraine national defense industry, while Ukraine reported strikes on Russian troops and oil refinery facilities.
According to a report from the Russian Defense Ministry on Monday, the Russian forces attacked Ukrainian national defense industry facilities and traffic infrastructure with long-range high-precision weapons and drones in the past 24 hours.
Over the same period, Russian air defense systems destroyed 274 drones and four guided aerial bombs of Ukraine.
The General Staff of the Armed Forces of Ukraine reported on the same day that 206 engagements took place along the frontline over the past day, with Ukrainian air forces, missile forces and artilleries carrying out attacks on Russian troops.
Ukrainian forces also struck an oil refinery in Krasnodar Krai early Monday morning.
Separately, the Russian Defense Ministry announced a scheduled flight of the Russian Aerospace Forces Tu-22M3 long-range bombers over the neutral waters of the Baltic Sea.
The flight lasted for over four hours and was escorted by Su-35 fighters.
Russian long-range aviation crews regularly conduct flights over neutral waters of the Arctic, the Northern Atlantic, and the Pacific oceans, as well as Black and Baltic seas. All flights of the Russian Aerospace Forces aircraft are carried out in strict compliance with international rules on the use of airspace over international waters, according to the Russian Defense Ministry.
Russia, Ukraine update battle reports
The Shanghai Stock Exchange (SME) on Monday approved a plan by Semiconductor Manufacturing International Corporation (SMIC), the country's leading chipmaker, to acquire the remaining 49 percent stake in its subsidiary SMIC North for 40.6 billion yuan (about 5.98 billion U.S. dollars) through share issuance, marking the largest merger and acquisition deal since the inception of China's STAR Market.
The deal, approved by SME's merger and acquisition review committee, was the first case of a multi-listed red-chip company issuing shares to purchase assets on the STAR market, and it is also the largest merger and acquisition deal in the history of the domestic wafer foundry industry.
After the completion of the transaction, SMIC's stake in SMIC North will increase from 51 percent to 100 percent. The offering price is set at 74.2 yuan (10.9 U.S. dollars) per share.
"Stock acquisition is a mechanism that binds the interests of both parties and shares risks. It sends a very positive message to the outside world and saves cash. Cash is a very valuable asset for growth-oriented companies, which can use it for other places where cash is needed more badly," said Qian Jun, executive dean of the Fanhai International School of Finance (FISF) of Fudan University in Shanghai.
Experts said that the acquisition will help further improve the quality of SMIC's assets and enhance business synergy, as SMIC North is one of the most profitable single factories within the SMIC system.
"Through industry consolidation, higher-quality assets can be concentrated into the hands of listed companies that have operational and value creation capabilities," Qian said.
SMIC gains approval for acquisition of its Beijing fab
