Core Viewpoint - *ST Yushun is expanding its presence in the IDC industry through strategic acquisitions, including the recent purchase of a 6% stake in Hebei Aihua Data Technology Co., Ltd. from its controlling shareholder, Shanghai Fengwang Industrial Co., Ltd. This move aims to strengthen its strategic layout in the IDC and intelligent computing sectors, particularly in the Beijing-Tianjin-Hebei region [2][6]. Group 1: Acquisition Details - The company plans to invest 3 million yuan to acquire a 6% stake in Aihua Data, which is currently in the project preparation stage for an intelligent computing center in Zhangjiakou, Hebei [2][3]. - Aihua Data's intelligent computing center project has a total investment of 3 billion yuan and a construction area of approximately 122,000 square meters, with a production capacity of about 12,000 8kW cabinets and 180,000 servers [3][4]. Group 2: Market Context - The global demand for data center cabinets is projected to grow from 2.099 million units in 2018 to 4.842 million units by 2024, with the market size increasing from $1.182 billion to $2.816 billion during the same period [4][5]. - In China, the data center cabinet market is expected to grow from 2.022 billion yuan to 4.907 billion yuan from 2018 to 2024, with a CAGR of 15.9% [5]. Group 3: Strategic Implications - The acquisition of Aihua Data is seen as a proactive step for *ST Yushun to secure a foothold in high-quality projects at a lower cost, enhancing its competitive edge in the IDC sector [5][6]. - The company is also in the process of acquiring the Zhong'en Cloud data center project for 3.35 billion yuan, which will further solidify its position in the data center infrastructure service market [6][7]. - The completion of these acquisitions is expected to contribute significantly to the company's revenue, with projections indicating an increase of at least 100 million yuan in revenue and approximately 22 million yuan in net profit [7].

Core Viewpoint - *ST Yushun is actively expanding its investment portfolio by acquiring a 6% stake in Hebei Aihua Data Technology Co., Ltd. for 3 million yuan, while simultaneously nearing the completion of a significant asset restructuring involving a 3.35 billion yuan acquisition of a data center [2][3][8]. Group 1: Investment Details - The acquisition of the 6% stake in Aihua Data does not require a temporary shareholders' meeting or other departmental approvals, only board approval, which has already been obtained [3]. - After the transaction, *ST Yushun will become the fifth largest shareholder of Aihua Data, marking a strategic move to expand its business in the intelligent computing sector [3][9]. - The overall investment in the Aihua Data project is projected to reach 3 billion yuan, comparable to the 3.35 billion yuan spent on the upcoming acquisition of the Zhong'en Cloud Data Center project [4][6]. Group 2: Project Scale and Strategic Importance - Aihua Data's main project, the UnionPay Cloud Intelligent Computing Center, is significantly larger than the Zhong'en Cloud project, with plans for 12,000 8KW cabinets and 180,000 servers [5][6]. - The project is located in Zhangjiakou, Hebei, which is strategically positioned within the Beijing-Tianjin-Hebei collaborative development area, benefiting from favorable climate conditions for energy-efficient cooling [6][7]. - The investment in Aihua Data is seen as a signal of *ST Yushun's commitment to the intelligent computing asset sector, with the project expected to commence operations sooner than anticipated due to its scale and strategic alignment with the company's development direction [8][9]. Group 3: Financial Aspects and Future Plans - The 6% stake in Aihua Data is valued at 5 million yuan, reflecting a low entry cost for *ST Yushun into a high-potential project [8]. - The company has indicated that it does not currently plan to increase its stake in Aihua Data but will evaluate future investments based on the project's progress and strategic alignment [9].

Core Viewpoint - Shenzhen Yushun Electronics Co., Ltd. has approved a proposal to purchase a 6% equity stake in Hebei Aihua Data Technology Co., Ltd. from its controlling shareholder, Shanghai Fengwang Industrial Co., Ltd., for a total consideration of RMB 3 million [4][11][38]. Group 1: Meeting Resolutions - The board meeting on November 17, 2025, was attended by all seven directors, and the proposal was passed with 4 votes in favor, 0 against, and 0 abstentions [2][4]. - The supervisory board meeting also approved the same proposal with 3 votes in favor, 0 against, and 0 abstentions [8][38]. Group 2: Transaction Details - The transaction involves purchasing 6% of the equity of Hebei Aihua Data Technology Co., Ltd. for RMB 3 million, which has already been fully paid by Shanghai Fengwang [4][11]. - The independent directors reviewed and approved the proposal before it was submitted to the board [13][38]. Group 3: Financial and Operational Context - Shanghai Fengwang, the selling party, has a negative net asset value of RMB -229.89 million as of September 30, 2025, with no revenue generated in 2024 and a net loss of RMB -80.54 million for the first nine months of 2025 [15]. - Hebei Aihua Data Technology Co., Ltd. was established on August 29, 2023, with a registered capital of RMB 50 million and is currently in the project preparation phase for a data center project in Zhangjiakou, Hebei [18][20]. Group 4: Strategic Implications - The investment aligns with the company's strategic goals and aims to enhance its competitive position in the IDC industry while controlling investment risks [36][38]. - The company does not plan to increase its stake in Hebei Aihua Data Technology Co., Ltd. in the near future, focusing instead on the current investment [22][38].

Group 1 - The company *ST Yushun (002289.SZ) has signed a conditional equity transfer agreement with its controlling shareholder Shanghai Fengwang Industrial Co., Ltd. to purchase 6% equity of Hebei Aihua Data Technology Co., Ltd. for 3 million yuan [1] - The equity corresponds to a capital contribution of 3 million yuan, which has already been fully paid by Shanghai Fengwang [1] - Hebei Aihua Data has not yet commenced operations and plans to build a smart computing center project in Huailai County, Zhangjiakou City, Hebei Province [1] Group 2 - The project has completed the enterprise investment project filing and has obtained the energy-saving review opinion from the Hebei Provincial Development and Reform Commission [1] - According to the filing documents, the total investment for the project is 3 billion yuan, with a total construction area of approximately 122,000 square meters [1] - The project includes six 4-story digital center buildings totaling 100,000 square meters, one 5-story research office building of 12,000 square meters, and two 3-story auxiliary facility buildings of 10,000 square meters, with a production scale of approximately 12,000 cabinets and 180,000 servers [1]

Core Viewpoint - Company *ST Yushun (002289.SZ) has signed a conditional equity transfer agreement with its controlling shareholder Shanghai Fengwang Industrial Co., Ltd. to acquire a 6% stake in Hebei Aihua Data Technology Co., Ltd. for 3 million yuan [1] Group 1: Equity Acquisition - The company plans to use its own or raised funds of 3 million yuan to purchase the 6% equity stake from Shanghai Fengwang, which has already completed the capital contribution [1] - The corresponding capital contribution for the acquired stake is 3 million yuan [1] Group 2: Business Operations - Hebei Aihua Data has not yet commenced actual operations [1] - The company intends to construct an intelligent computing center project in Huailai County, Zhangjiakou City, Hebei Province [1] Group 3: Project Details - The project has completed the enterprise investment project filing and has received energy-saving review opinions from the Hebei Provincial Development and Reform Commission [1] - The total investment for the project is 3 billion yuan, with a total construction area of approximately 122,000 square meters, including six 4-story digital center buildings of 100,000 square meters, one 5-story research office building of 12,000 square meters, and two 3-story auxiliary facility buildings of 10,000 square meters [1] - The production scale is expected to include 12,000 cabinets with a capacity of approximately 8KW each, 180,000 servers, and related auxiliary IT and electromechanical equipment [1]

Group 1 - The core point of the article is that *ST Yushun (SZ 002289) held its 30th meeting of the sixth board of directors on November 17, 2025, to review proposals including the purchase of equity and related transactions [1] - For the first half of 2025, *ST Yushun's revenue composition was 55.73% from other manufacturing and 44.27% from electronic components [1] - As of the report date, *ST Yushun's market capitalization was 9.7 billion yuan [1]

Core Viewpoint - *ST Yushun (002289) has signed a conditional equity transfer agreement with its controlling shareholder, Shanghai Fengwang, to purchase 6% equity in Hebei Aihua Data Technology Co., Ltd. for 3 million yuan, aiming to enhance its influence and competitiveness in the IDC industry within the Beijing-Tianjin-Hebei region [1] Group 1 - The company plans to use its own or raised funds of 3 million yuan to acquire the 6% equity stake in Aihua Data, which corresponds to a capital contribution of 3 million yuan [1] - Shanghai Fengwang has completed the capital contribution for the equity being sold [1] - This acquisition is part of the company's strategy to strengthen its layout in the national hub node of Beijing-Tianjin-Hebei [1]

Core Viewpoint - Company plans to acquire 6% equity in Hebei Aihua Data Technology Co., Ltd. for 3 million yuan to enhance its strategic development goals and strengthen its position in the IDC industry [1][2] Group 1: Investment Details - The acquisition involves purchasing 6% equity from the controlling shareholder Shanghai Fengwang Industrial Co., Ltd. for a total investment of 3 million yuan [1] - Hebei Aihua Data has not yet commenced operations and is in the project preparation stage for a smart computing center in Zhangjiakou, Hebei Province [1] - The total investment for the smart computing center project is 3 billion yuan, with a total construction area of approximately 122,000 square meters [1] Group 2: Strategic Implications - This investment is expected to enhance the company's influence and competitiveness in the IDC industry, while also improving sustainable development capabilities [2] - The timing of the investment allows the company to enter a quality project at a lower cost, thereby gaining a competitive advantage [2] - The decision to invest is driven by operational strategy and aligns with actual business development needs [2]

Core Viewpoint - Company plans to acquire 6% equity in Hebei Aihua Data Technology Co., Ltd. for 3 million yuan to enhance its strategic development goals and strengthen its position in the IDC industry [1][2] Group 1: Investment Details - The acquisition involves purchasing 6% equity from the controlling shareholder Shanghai Fengwang Industrial Co., Ltd. for a total investment of 3 million yuan [1] - Hebei Aihua Data has not yet commenced operations and is in the process of establishing a smart computing center project in Zhangjiakou, Hebei Province [1] - The total investment for the smart computing center project is 3 billion yuan, with a total construction area of approximately 122,000 square meters [1] Group 2: Strategic Implications - This investment will enhance the company's influence and competitiveness in the IDC industry, while also improving its sustainable development capabilities [2] - The investment is strategically driven and aligns with the company's actual business development needs, allowing for a lower-cost entry into a quality project [2] - The project is currently in the planning stage and is progressing as scheduled, which provides the company with an opportunity to secure a proactive position [2]

证券代码：002289 证券简称：*ST宇顺 公告编号：2025-107 深圳市宇顺电子股份有限公司 关于购买股权暨关联交易的公告 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、购买股权暨关联交易概述 1、关联交易主要内容 为践行公司发展战略，实现公司战略发展目标，2025 年 11 月 17 日，深圳 市宇顺电子股份有限公司（以下简称"公司"）与控股股东上海奉望实业有限公 司（以下简称"上海奉望"）签署了附条件生效的《股权转让协议》，公司拟以 自有或自筹资金 300 万元购买上海奉望持有的河北爱怀数据技术有限公司（以下 简称"爱怀数据"）6%的股权，该部分股权对应的出资额为 300 万元，上海奉 望已完成实缴。 2、关联关系说明 本次交易对方为公司控股股东上海奉望。根据《深圳证券交易所股票上市规 则》的相关规定，本次交易构成关联交易。 3、关联交易审议情况 2025 年 11 月 13 日，公司独立董事专门会议 2025 年第五次会议召开，全体 独立董事以 3 票同意、0 票反对，0 票弃权审议通过了《关于购买股权暨关联交 易的议案》；2025 年 1 ...