Core Viewpoint - The acquisition of Shenzhen Jiahe Jingwei Electronics Technology Co., Ltd. by Shikong Technology marks a significant strategic move into the storage sector, leading to a surge in the company's stock price and market capitalization [1][2]. Group 1: Acquisition Details - Shikong Technology announced on October 22 that it plans to acquire 100% of Jiahe Jingwei through a combination of share issuance and cash payment, which is expected to constitute a major asset restructuring and related party transaction [1]. - The acquisition aims to establish a second growth curve for Shikong Technology, enhancing its profitability and transitioning towards new productive forces [1]. Group 2: Jiahe Jingwei's Market Position - Jiahe Jingwei is recognized for its strong presence in the storage sector, specializing in the research, design, production, and sales of memory modules and solid-state drives, with three major product lines: Guangwei, Asgarde, and Shenk [1]. - According to TrendForce, Jiahe Jingwei ranked second in the global DRAM module market share in 2023, with notable sales performance during the 2024 618 shopping festival [1]. Group 3: Financial Performance - As of August 31, Jiahe Jingwei reported total assets of 1.299 billion yuan and equity of 606 million yuan, with revenues of 854 million yuan, 1.344 billion yuan, and 1.123 billion yuan for the years 2023, 2024, and the first eight months of 2025, respectively [2]. - The net profits for the same periods were -20.16 million yuan, 42.26 million yuan, and 42.11 million yuan, indicating a recovery in profitability [2]. Group 4: Shikong Technology's Business Transition - Shikong Technology's main business was primarily focused on lighting engineering when it was listed in September 2020, but it has since diversified into smart city solutions and nighttime economy sectors [2]. - Despite efforts to pivot, Shikong Technology has struggled with declining revenues and increasing net losses from 2020 to 2024, with revenues dropping from 896 million yuan in 2020 to 341 million yuan in 2024 [2][3].

Market Overview - The A-share market experienced a volatile upward trend, with the Shanghai Composite Index rising over 1% and approaching the 4000-point mark, reaching a ten-year high [1] - The total trading volume in the Shanghai and Shenzhen markets was 2.34 trillion yuan, an increase of 365.9 billion yuan compared to the previous trading day [1] Sector Performance - Storage chip concept stocks showed strong performance throughout the day, with companies like Demingli achieving consecutive gains and hitting new highs, while Jiangbolong and Xiangnong Chip Innovation also reached record levels [3] - Computing hardware concept stocks maintained their strength, with Huylv Ecological achieving four gains in six days and reaching a new high, while companies like Xinyisheng and Zhongji Xuchuang also hit historical highs [3] - The nuclear power sector was active, with Dongfang Tantalum achieving two gains in three days, and several stocks, including Antai Technology, hitting the daily limit [3] - Conversely, the wind power sector saw a collective decline, with Haili Wind Power experiencing a significant drop [3] Index Performance - By the end of the trading session, the Shanghai Composite Index rose by 1.18%, the Shenzhen Component Index increased by 1.51%, and the ChiNext Index gained 1.98% [3]

Core Viewpoint - Jiangbolong's stock price increased by over 12%, reaching a new high, indicating strong market performance and investor interest [1] Company Performance - Jiangbolong's stock surge reflects positive market sentiment and potential growth opportunities within the company [1] - Daway Co., Shikong Technology, Demingli, Jingzhida, and Weidao Nano also experienced significant stock price increases, with some reaching their daily limit [1] Market Trends - The overall trend in the market shows a bullish sentiment, particularly in the sectors represented by the mentioned companies, suggesting a favorable investment climate [1]

| 日期 | 当日涨跌幅（%） | 换手率（%） | 主力资金净流入（万元） | | --- | --- | --- | --- | | 2025.10.24 | 10.00 | 0.21 | 373.33 | | 2025.10.23 | 9.99 | 0.45 | 1431.06 | | 2025.09.30 | 10.01 | 5.81 | 581.71 | | 2025.09.29 | -4.35 | 8.57 | -3109.75 | | 2025.09.26 | 3.62 | 6.28 | 1079.84 | | 2025.09.25 | 3.24 | 8.50 | 1273.90 | | 2025.09.24 | 6.42 | 5.95 | -204.97 | | 2025.09.23 | -1.71 | 6.13 | -643.48 | | 2025.09.22 | 0.83 | 5.94 | -507.67 | | 2025.09.19 | 3.46 | 8.68 | 304.02 | （文章来源：证券时报网） 时空科技盘中涨停，已连收3个涨停板，截至9:25，该股报47.69元，换手率0. ...

Core Viewpoint - The storage chip sector experienced a collective surge in stock prices, indicating strong market interest and potential growth opportunities in this industry [2] Group 1: Stock Performance - The stocks of companies such as Shikong Technology, Dwei Co., and Yingxin Development reached their daily limit increase [2] - Companies like Purun Co. and Weicet Technology saw their stock prices rise by over 10% [2] - Other companies including Nanda Optoelectronics, Tuojing Technology, and Demingli also experienced upward movement in their stock prices [2]

Core Viewpoint - The company, Time Space Technology (605178.SH), announced its plan to acquire 100% equity of Shenzhen Jiahe Jingwei Electronic Technology Co., Ltd. through a combination of share issuance and cash payment, marking its entry into the storage industry, which is outside its current business scope [2] Group 1: Acquisition Details - The target company specializes in the research, design, production, and sales of storage products such as memory modules and solid-state drives [2] - Prior to this transaction, the company had no experience in the storage industry, indicating a significant shift in its operational focus [2] Group 2: Risks and Challenges - The acquisition may expose the company to integration risks as the target company will be incorporated into its management and consolidated financials [2] - The target company relies on storage chips as its primary raw material, which are produced by a limited number of manufacturers, including SK Hynix, Micron, Samsung, Hefei Changxin, and Yangtze Memory Technologies [2] - Although the target company has established long-term and stable relationships with major storage chip manufacturers or their distributors, potential adverse changes in international trade or supplier relationships could lead to supply shortages, significantly impacting the company's operations [2]

证券代码：605178 证券简称：时空科技 公告编号：2025-070 北京新时空科技股份有限公司 北京新时空科技股份有限公司（以下简称"公司"）股票价格于 2025 年 10 月 23 日、10 月 24 日连续两个交易日收盘价格涨幅偏离值累计超过 20%，根据《上海证券交易所交易规则》的有关规定，属于股票交易异 常波动的情形。公司股价短期涨幅较大，敬请投资者注意二级市场股票 交易风险。 公司于 2025 年 10 月 23 日在上海证券交易所网站（www.sse.com.cn）披 露《发行股份及支付现金购买资产并募集配套资金暨关联交易预案》等 相关公告。本次交易尚需提交公司董事会再次审议及公司股东大会审议 批准，并需经有权监管机构批准、核准或同意注册后方可正式实施，能 否通过上述审批、核准或注册尚存在不确定性。 标的公司主要从事内存条、固态硬盘等存储产品的研发、设计、生产和 销售，与公司主营业务属于不同行业，本次交易前公司无存储行业经验。 本次交易完成后，标的公司将纳入公司管理及合并范围，公司面临一定 的收购整合风险。 本次交易尚面临可能暂停、中止或取消、审计评估未完成、作价尚未确 定、交易方案调整、标的 ...

Core Viewpoint - The company has experienced significant stock price fluctuations, with a cumulative increase of over 20% in two consecutive trading days, indicating abnormal volatility [1] Financial Performance - The company's revenue for the years 2022 to 2025 was reported as follows: 330 million, 203 million, 341 million, and 144 million respectively [1] - The net profit figures for the same period were -212 million, -204 million, -266 million, and -66 million, indicating continuous losses [1] Acquisition Plans - The company plans to acquire 100% equity of Jiahe Jingwei, but the transaction is subject to approval and faces multiple risks related to approval and integration [1] Market Behavior - The current short-term stock price increase may be driven by irrational speculation, prompting a cautionary note for investors regarding potential risks [1]

Core Viewpoint - The company has announced a significant stock price fluctuation, with a cumulative increase of over 20% in closing prices over two consecutive trading days, indicating abnormal trading activity [1] Group 1: Transaction Details - On October 23, the company disclosed a plan for issuing shares and cash to acquire assets, along with related announcements on the Shanghai Stock Exchange [1] - The transaction requires further review and approval from the company's board of directors and shareholders, as well as regulatory authorities, introducing uncertainty regarding its implementation [1] Group 2: Business Integration - The target company specializes in the research, design, production, and sales of storage products such as memory modules and solid-state drives, which are in a different industry from the company's main business [1] - Prior to this transaction, the company had no experience in the storage industry, indicating a potential challenge in integration post-acquisition [1] Group 3: Risks Associated with the Transaction - The company faces various risks including the possibility of transaction suspension, audit and evaluation completion issues, undetermined pricing, adjustments to the transaction plan, high concentration of suppliers for raw materials, fluctuations in operating performance, and high customer concentration [1]

Core Viewpoint - The stock price of Shikong Technology surged to its daily limit after the announcement of a major asset restructuring plan, which involves acquiring 100% of Shenzhen Jiahe Jinwei Electronics Technology Co., aiming to enter the lucrative semiconductor storage sector [2][3]. Group 1: Company Overview - Shikong Technology was established in 2004, initially focusing on landscape lighting, and went public in 2020. However, the company has faced declining revenues and continuous losses since its first year of listing [3]. - Despite a slight recovery in revenue in 2024, the net loss has further expanded, with a 10.95% year-on-year revenue decline in the first half of 2025, resulting in over 750 million yuan in net losses over four and a half years [3]. Group 2: Acquisition Details - The acquisition of Jiahe Jinwei will be executed through a combination of share issuance and cash payment, with a share price set at 23.08 yuan [2]. - Jiahe Jinwei is recognized as a domestic memory module manufacturer with established partnerships with major wafer manufacturers like Samsung and Micron, showing growth in revenue and net profit from 2023 to August 2025, particularly achieving profitability in 2024 [2]. Group 3: Market Potential and Challenges - The semiconductor storage industry presents significant growth opportunities, and if the acquisition is successful, it could provide Shikong Technology with new profit growth points and enhance its sustainable profitability [3]. - However, challenges exist due to Shikong Technology's previous unsuccessful cross-industry attempts, indicating potential shortcomings in business integration and operational management. The competitive nature of the semiconductor storage sector and rapid technological advancements pose additional risks [3].