Group 1 - The core viewpoint of the article highlights that *ST Yushun (sz002289) has reached a trading limit with a price of 27.1 yuan, reflecting a 5% increase and a total market capitalization of 7.595 billion yuan [1] Group 2 - *ST Yushun is undergoing a significant asset restructuring to transition into the data center sector, having completed 51% of the transaction payment (1.7 billion yuan) for acquiring 100% equity of three related companies, aligning with the national "East Data West Computing" strategy, which presents new growth opportunities for the company [2] - The company has revised its internal governance structure, updating over 20 internal regulations and enhancing mechanisms such as independent directors and audit committees, while also applying to increase the borrowing limit from the controlling shareholder to 3.1 billion yuan to alleviate short-term financial pressure [2] - The "East Data West Computing" initiative is gaining traction, with the data center sector attracting significant market attention, and *ST Yushun, as a company transitioning into this field, is benefiting from the sector's heightened interest [2] - Technical indicators such as MACD and BOLL suggest potential upward momentum for the stock price, with indications of main capital inflow, which could further drive the stock price increase [2]

Core Viewpoint - *ST Yushun is forecasting a negative net profit of approximately -19.23 million yuan for the fiscal year 2025, despite an expected revenue of about 410 million yuan, primarily due to significant asset restructuring and the acquisition of three IDC project companies [2] Group 1: Financial Performance - The company anticipates an operating revenue of around 410 million yuan, with a net profit attributable to shareholders projected to be negative at approximately -19.23 million yuan [2] - The adjusted operating revenue, after deductions, is expected to be about 407 million yuan, which includes new IDC business revenue of approximately 81.01 million yuan [2] Group 2: Business Developments - The performance change is mainly attributed to the major asset restructuring, which involved the cash acquisition of 100% equity in three IDC project companies [2] - The transition management of the acquired companies was completed on November 28, 2025, and they will be included in the consolidated financial statements starting December 2025 [2] Group 3: Stock Market Implications - The company has highlighted the risk of potential delisting, as the audited net profit for 2024 and the net profit after excluding non-recurring gains and losses are both expected to be negative [2] - The adjusted operating revenue for 2024 is projected to be below 300 million yuan, leading to a trading risk warning for the company's stock effective from May 6, 2025 [2]

Group 1 - The core point of the article is that *ST Yushun (002289.SZ) has released its performance forecast for 2025, expecting a revenue of approximately 410 million yuan and a net loss of 19 million yuan [1] - In 2024, *ST Yushun was under delisting risk warning due to negative net profit and revenue below 300 million yuan [1] - The company is advancing a significant asset restructuring plan to acquire 100% equity of three IDC project companies for 3.35 billion yuan, which is expected to improve financial metrics [1] Group 2 - The asset restructuring plan is in a substantial implementation phase, with a clear arrangement for equity transfer and payment [1] - The first batch of 60% equity transfer is set to start after the completion of preconditions by March 17, with a corresponding payment of 9% of the total price [1] - A financing lease business through sale-leaseback is proposed by Zhongen Cloud Technology, which could provide up to 2 billion yuan in funding to resolve the equity pledge issue [2] Group 3 - February 12 is identified as a critical date for the restructuring, as the financing lease plan will be submitted for approval at the first temporary shareholders' meeting of 2026 [2] - If the financing lease plan is approved, the equity pledge issue will be resolved, allowing the first batch of equity transfer to potentially be completed before the Lunar New Year [2] - The successful completion of the restructuring could lead to *ST Yushun's removal from the delisting risk warning [2]

Core Viewpoint - *ST Yushun expects a negative net profit for the fiscal year 2025, indicating ongoing financial challenges and a significant decline compared to previous periods [1] Financial Performance Summary - The projected total profit for 2025 is estimated at -2.09 million, an improvement from -15.21 million in the previous year before restructuring, but a decline from 216 million after restructuring [1] - The expected net profit attributable to shareholders is forecasted at -19.23 million, compared to -17.57 million before restructuring last year and 156 million after restructuring [1] - The anticipated net profit after excluding non-recurring gains and losses is -20.35 million, slightly better than -21.43 million in the previous year before restructuring, but down from 152 million after restructuring [1] - Projected operating revenue is 410 million, significantly higher than 220 million before restructuring last year, but lower than 1.036 billion after restructuring [1] - The expected operating revenue after adjustments is 407 million, compared to 216 million before restructuring last year and 1.031 billion after restructuring [1]

关于公司股票可能被终止上市的风险提示公告 证券代码：002289 证券简称：*ST宇顺 公告编号：2026-011 深圳市宇顺电子股份有限公司 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 重要内容提示： 1、深圳市宇顺电子股份有限公司（以下简称"公司"）于 2025 年 4 月 30 日披露了《关于申请公司股票交易撤销其他风险警示及被实施退市风险警示暨停 牌的公告》（公告编号：2025-042），鉴于公司经审计的 2024 年度净利润、扣 除非经常性损益后的净利润均为负值且扣除后营业收入低于 3 亿元，触及了《深 圳证券交易所股票上市规则》第 9.3.1 条（一）的规定，自 2025 年 5 月 6 日起， 深圳证券交易所对公司股票交易实施退市风险警示。如果公司 2025 年度出现《深 圳证券交易所股票上市规则》第 9.3.12 条规定的情形，公司股票将被终止上市。 2、根据《深圳证券交易所股票上市规则》第 9.3.6 条的规定，公司应当在股 票交易被实施退市风险警示当年会计年度结束后一个月内，披露股票可能被终止 上市的风险提示公告，在首次风险提示公告披露 ...

Financial Performance - The company expects a net profit for 2025 to be negative, with a projected operating revenue of approximately 41,000 million yuan, which is an increase from 22,028.24 million yuan in the previous year [4]. - The total profit for the current accounting year is projected to be -209 million yuan, compared to -1,521.39 million yuan in the previous year [8]. - The net profit attributable to shareholders is expected to be -1,923 million yuan, a slight increase from -1,757.48 million yuan in the previous year [8]. - The basic earnings per share are projected to be -0.0686 yuan, compared to -0.0627 yuan in the previous year [8]. - The total equity attributable to shareholders is expected to be 21,800 million yuan at the end of the current accounting year, down from 23,065.60 million yuan in the previous year [8]. Revenue Growth - The revenue from the newly acquired IDC business is estimated to be around 8,101 million yuan, contributing to the overall revenue growth [2]. Acquisition and Consolidation - The company completed the acquisition of 100% equity in the IDC project company, which will be included in the consolidated financial statements starting December 2025 [7]. Risk Factors - The company faces a risk of being delisted if the audited net profit, total profit, and net profit after deducting non-recurring gains and losses are all negative, and if the operating revenue is below 300 million yuan [3]. Communication and Governance - The company has communicated with the accounting firm regarding the preliminary financial data, which is subject to final audit confirmation [6]. - The company will hold a shareholders' meeting on February 12, 2026, to discuss the change of the accounting firm [14].

Core Viewpoint - The major asset restructuring of *ST Yushun (002289.SZ) has reached a significant milestone, with the acquisition of 100% equity in Zhong'en Cloud Technology and two other companies progressing towards the transfer of 60% equity, expected to be completed before the Lunar New Year [1][3]. Group 1: Acquisition Details - On January 27, *ST Yushun signed a supplementary agreement to purchase the assets, with an initial payment of 51% of the transaction price (CNY 1.709 billion) [1][2]. - The transfer of the first 60% equity will commence after two core preconditions are met: the release of existing equity pledges and the acquisition of compliance certifications by the acquirer [1][3]. - Following the completion of the equity transfer, *ST Yushun is required to pay an additional 35% of the total transaction price (CNY 1.173 billion) by June 30, 2026, to initiate the transfer of the remaining 40% equity [2][7]. Group 2: Financing and Business Model - Zhong'en Cloud Technology plans to utilize a sale-and-leaseback model for financing, potentially raising up to CNY 2 billion to repay existing loans and resolve equity pledge issues [3][8]. - The financing lease business requires approval from *ST Yushun's first extraordinary general meeting in 2026, scheduled for February 12 [8]. Group 3: Market Implications - Successful completion of the equity transfers is expected to inject a high-growth potential data center business into *ST Yushun, driving the company's transformation and growth [3][8]. - The restructuring process is seen as a potential innovative model for mergers and acquisitions in the A-share market, providing valuable insights for future complex restructuring efforts [4][9].

证券代码：002289 证券简称：*ST宇顺 公告编号：2026-009 深圳市宇顺电子股份有限公司 关于重大资产购买的进展公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 一、本次交易概述 深圳市宇顺电子股份有限公司（以下简称"公司""上市公司"）以支付现 金方式向交易对方凯星有限公司（Energy Sight Limited）、正嘉有限公司（Basic Venture Limited）、上海汇之顶管理咨询有限公司购买其分别持有的中恩云（北 京）数据科技有限公司、北京申惠碧源云计算科技有限公司、中恩云（北京）数 据信息技术有限公司 100%的股权（以下简称"本次交易"）。根据《上市公司 重大资产重组管理办法》的相关规定，本次交易构成重大资产重组。 2025 年 9 月 29 日，本次交易方案及相关议案经公司 2025 年第二次临时股 东大会审议通过，公司与交易对方签订的《深圳市宇顺电子股份有限公司关于北 京房山中恩云数据中心项目之支付现金购买资产协议》（以下简称"支付现金购 买资产协议"）经股东大会审议通过后已生效，公司与相关方积极推进本次交易 的相关工 ...

详见公司于2026年1月28日刊登在《证券时报》《中国证券报》《上海证券 报》《证券日报》和巨潮资讯网（http://www.cninfo.com.cn）上的《关于重大资 产购买的进展公告》（公告编号：2026-009）。 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 深圳市宇顺电子股份有限公司（以下简称"公司"）第六届董事会第三十五 次会议通知于 2026 年 1 月 27 日以微信、电子邮件等方式通知了全体董事，本次 为紧急会议，召集人已对本次紧急会议作出说明，与会的各位董事已知悉所审议 事项相关的必要信息。会议于 2026 年 1 月 27 日在公司总部会议室以通讯方式召 开。会议应出席的董事 7 人，实际出席的董事 6 人，独立董事石军先生因个人原 因请假未出席本次会议。本次会议由董事长嵇敏先生主持，高级管理人员列席了 会议。本次会议的召集、召开符合《中华人民共和国公司法》和《公司章程》的 规定。 本次会议以记名投票表决方式通过了如下议案： 会议以 6 票同意，0 票反对，0 票弃权，审议通过了《关于拟签订〈支付现 金购买资产协议之补充协议（三）〉的 ...

Core Viewpoint - *ST Yushun (002289.SZ) has announced the appointment of Huaxing Accounting Firm as its auditor for the 2025 financial report and internal control audit, replacing Shenzhen Zhengyi Accounting Firm due to concerns over audit independence [1][3]. Group 1: Audit Firm Change - The change in audit firms is primarily in response to regulatory requirements regarding audit independence, as the fees paid to the previous auditor could exceed 15% of its estimated total revenue for 2025, potentially affecting its independence [1]. - The previous auditor, Shenzhen Zhengyi Accounting Firm, has not yet signed an audit service agreement for 2025, and the audit work has not commenced [1]. Group 2: New Auditor's Qualifications - Huaxing Accounting Firm, established in December 2013, has over 10 years of experience and has been qualified to provide audit services to listed companies since November 2020 [2]. - As of the end of 2024, Huaxing has 71 partners and 346 registered accountants, with 182 having signed securities service audit reports, indicating a well-equipped core audit team [2]. - In 2024, Huaxing's audited total revenue was 370 million yuan, with audit business revenue at 356 million yuan and securities business revenue at 197 million yuan [2]. Group 3: Decision-Making Process - The decision to change auditors followed a strict internal decision-making process, with the audit committee of *ST Yushun conducting thorough research on Huaxing's qualifications and independence [3]. - The board of directors approved the change with a unanimous vote, and the decision will be submitted for review at the first extraordinary shareholders' meeting in 2026 [3]. - This change is seen as a rational choice for *ST Yushun, aligning with regulatory requirements while bringing in a more professional auditing firm to support future audit work [3].