Core Viewpoint - Xinxiangwei (688593.SH) announced the termination of the issuance of shares, convertible bonds, and cash payment for asset acquisition, along with related fundraising matters due to a lack of consensus among transaction parties [1][2]. Financial Performance - In 2024, Xinxiangwei achieved operating revenue of 50,739.99 million, a year-on-year increase of 5.61% compared to 48,044.73 million in 2023 [2][3]. - The net profit attributable to shareholders was 843.29 million, reflecting a significant decline of 69.38% from 2,753.91 million in the previous year [2][3]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -368.23 million, a decrease of 117.31% from 2,127.79 million in 2023 [2][3]. - The net cash flow from operating activities was -6,686.70 million, down 169.90% from 9,566.06 million in the previous year [2][3]. Capital Raising and Share Issuance - Xinxiangwei's total fundraising amount was 102,750.78 million, with a net amount of 91,657.46 million after deducting issuance costs [4][5]. - The company planned to raise 151,902.70 million for various projects, including the development and industrialization of AMOLED display driver chips and the construction of a testing production line [4].

Core Viewpoint - The company has decided to terminate the acquisition of 100% equity in Shenzhen Aixiangsheng Technology Co., Ltd. due to a lack of consensus among the transaction parties regarding the final plan [2] Group 1: Termination of Acquisition - On August 9, the company announced the termination of the issuance of shares, convertible bonds, and cash payment for asset acquisition, along with the related fundraising [2] - The management has been authorized to handle the termination of this transaction [2] - The initial plan involved acquiring 100% equity of Aixiangsheng and raising funds from no more than 35 specific investors [2] Group 2: Reasons for Termination - The termination was prompted by the inability of the transaction parties to reach an agreement on the final plan [2] - The company emphasized the need to protect the interests of the company and all shareholders [2] - A thorough review and negotiation with the transaction parties led to the decision to terminate the acquisition [2] Group 3: Background on Aixiangsheng - Aixiangsheng is primarily engaged in the research, design, and sales of various chip products, including display driver chips and touch control driver chips [2] - The company previously believed that this major asset restructuring would enhance domestic substitution trends, strengthen the supply chain, and improve key technological capabilities for high-quality development [2]

Core Viewpoint - The company, Xinxiangwei, has terminated its proposed major asset restructuring plan with Shenzhen Aixiangsheng Technology Co., Ltd, stating that this adjustment will not affect its normal operations and strategic progress, and it will continue to accelerate technological innovation and product layout in line with its established development direction [1] Group 1: Company Overview - Xinxiangwei specializes in the research and sales of display chips and is recognized as a national-level "little giant" enterprise, having built a comprehensive product matrix covering various applications such as smart wearables, mobile phones, and automotive displays over two decades [2] - The company aims for "high-end display chip domestic substitution" and has made significant breakthroughs in technology, particularly in AMOLED display driver chips and timing control chips for various applications [2] Group 2: Technological Development - Xinxiangwei has extended its research into next-generation display technologies, with its MicroLED products currently applied in AR glasses, providing display solutions for virtual reality interactions and remote collaboration [3] - The company emphasizes a diversified product and technology layout, continuously increasing R&D investment, and expanding its product categories while actively seeking new customers [3] Group 3: Industry Collaboration and Competitive Advantage - The company maintains long-term collaborations with leading domestic panel manufacturers, such as BOE, which provide precise market demand feedback for technological iterations [4] - Xinxiangwei has established a strong supply chain presence with major brands like Huawei and Xiaomi, gradually increasing its market share in the consumer electronics sector [4] - The company has a strategic partnership with BOE's controlling shareholder, Beijing Electric Control, and collaborates with well-known suppliers to deepen industry chain cooperation and promote design and process integration [4] Group 4: Future Strategy - Although the acquisition of Aixiangsheng was terminated, Xinxiangwei will continue its layout in TDDI technology and will explore various models, including self-research and mergers, to enhance its product line and core technology breakthroughs [5]

Core Viewpoint - Several shareholders across various companies are planning to reduce their stakes, with most reductions not exceeding 3% of total shares [1] Shareholder Reductions - Jiuliang Co., shareholders Rongxinliang and Zhuochu Guang plan to reduce their holdings by no more than 3% [1] - Inse Group, Orange Alliance Investment intends to reduce its stake by no more than 1% [1] - Xuelang Environment, shareholders Yang Jianping and Xu Huifen plan to reduce their holdings by a total of no more than 3% [1] - Haide Control, actual controller Guo Menglong plans to reduce his stake by no more than 3% [1] - Ailis, shareholders Shanghai Aixiang and Nantong Aiyun plan to reduce a total of no more than 13.5 million shares [1] - Huaxia Happiness, shareholders Ping An Life and Ping An Asset Management plan to reduce their holdings by a total of no more than 3% [1] - Tonglian Precision, actual controller Yang Hu plans to reduce his stake by no more than 2.375% [1] - Henggong Precision, shareholder Jingjinji Fund plans to reduce its stake by no more than 3% [1] - Dajia Weikang, director Zhong Xuesong plans to reduce his stake by no more than 1.7% [1] - Chuanwang Media, China Youth Publishing Group plans to reduce its stake by no more than 1% [1] Other Corporate Actions - Jinlihua Electric has terminated its plan for a major asset restructuring [1] - New Xiangwei has terminated the acquisition of 100% equity in Aixiangsheng [1]

Group 1 - The company held its second board meeting on August 8, 2025, with all 9 directors present, confirming compliance with relevant laws and regulations [2][4] - The board approved the termination of the plan to issue shares, convertible bonds, and cash for asset acquisition, authorizing management to handle the termination [3][10] - The decision to terminate the transaction was made due to the inability of the parties involved to reach a consensus on the final plan, ensuring the protection of the company's and shareholders' interests [11][12] Group 2 - The company had previously planned to acquire 100% equity of Shenzhen Aisheng Technology Co., Ltd. through the issuance of shares, convertible bonds, and cash, which was expected to meet the criteria for a major asset restructuring [7][8] - The company followed all legal requirements and disclosed relevant risks and uncertainties during the transaction process, including a suspension of trading since March 3, 2025 [8][9] - The termination of the transaction is not expected to adversely affect the company's current operations or strategic development [15] Group 3 - The company committed to not planning any major asset restructuring within one month following the announcement of the termination [16] - An investor briefing is scheduled for August 11, 2025, to address investor concerns regarding the termination of the major asset restructuring [17][19] - The company will provide a platform for investors to submit questions prior to the briefing, ensuring transparency and communication [20][23]

Group 1 - The core viewpoint of the articles highlights the strategic focus of the company on high-end display chip domestic substitution and innovation in advanced display technologies [1][2] - The company has established a comprehensive product matrix covering over a hundred types of new display driver ICs and power ICs for various applications including smart wearables, mobile phones, and automotive displays [1] - The company has maintained long-term collaborations with leading manufacturers such as BOE, Huike, Tianma Microelectronics, Visionox, Huawei, and Xiaomi, ensuring a stable supply of high-quality products and services [1] Group 2 - The company is committed to increasing R&D investment and has implemented a tiered R&D system to ensure continuous technological innovation and leadership in the field [1] - Recent capital operations include the establishment of the "Chongqing Liangjiang New Display Venture Capital Fund" in collaboration with the Chongqing Liangjiang New Area government, aimed at nurturing high-end technical talent and projects in the display chip industry [2] - The company aims to leverage global display technology iterations and accelerated domestic substitution opportunities to enhance market penetration and international competitiveness [2] Group 3 - The company announced the termination of a previously planned major asset restructuring with Shenzhen Aisheng Technology Co., Ltd., stating that this adjustment will not affect normal operations or strategic progress [4]

Core Viewpoint - The company, Xinxiangwei (688593.SH), announced the termination of its planned acquisition of 100% equity in Shenzhen Aixiangsheng Technology Co., Ltd. due to a lack of consensus among the transaction parties [1] Group 1 - The company intended to acquire the target company through a combination of issuing shares, convertible bonds, and cash payments [1] - The company has been actively organizing and advancing the transaction in compliance with relevant laws and regulations since the planning stage [1] - The decision to terminate the transaction was made after careful consideration and negotiation with the transaction parties to protect the interests of the company and all shareholders [1]

Group 1 - The company, Xinxiangwei, announced on August 8 that its second board meeting was held via communication to discuss the termination of issuing shares, convertible bonds, and cash payments for asset purchases, along with related party transactions [2] - For the year 2024, Xinxiangwei's revenue composition is entirely from integrated circuits, accounting for 100.0% [2]

Core Viewpoint - The company has decided to terminate the proposed transaction involving the acquisition of 100% equity of Shenzhen Aixiangsheng Technology Co., Ltd. through the issuance of shares, convertible bonds, and cash payment due to a lack of consensus among the parties involved [1][2]. Group 1 - The independent board meeting was held on August 8, 2025, with all three independent directors present, and the meeting procedures complied with relevant laws and regulations [1]. - The independent directors reviewed and approved the proposal to terminate the transaction, emphasizing the need to protect the interests of the company and all shareholders [1][2]. - The decision to terminate the transaction was made after thorough consideration and discussions with the related parties, as they could not reach an agreement on the final cooperation plan [1].

Group 1 - The board of directors of Shanghai Xinxiangwei Electronics Co., Ltd. held its ninth meeting of the second session on August 8, 2025, with all nine directors present [1] - The board unanimously approved the proposal to terminate the issuance of shares, convertible bonds, and cash payment for asset acquisition, along with related fundraising and transactions [1] - The decision to terminate the aforementioned transactions was made with a vote of 9 in favor, 0 against, and 0 abstentions [1] Group 2 - The proposal was previously reviewed and approved by the Strategic Committee of the board, thus it does not require submission to the shareholders' meeting for further approval [2] - Detailed information regarding the termination of the transactions will be disclosed on the Shanghai Stock Exchange website [2]