Core Viewpoint - Liansheng Technology (300051.SZ) announced the termination of its plan to issue shares and pay cash for asset acquisition and related fundraising, following a board meeting on October 14, 2025 [1][2]. Group 1: Transaction Details - The company intended to acquire 69.71% of Xingshu Century Technology from 38 counterparties, including Ziyang Jinma Industrial Investment Co., Ltd. and Fuzhou Digital New Infrastructure Industry Investment Partnership [1]. - The transaction was expected to constitute a major asset restructuring but not a restructuring listing, and it involved related party transactions due to the connections between the company and Hainan Liansheng Technology Co., Ltd., its controlling shareholder [2]. Group 2: Financial Performance - Liansheng Technology has reported losses for seven and a half consecutive years, with net profits attributable to shareholders from 2018 to the first half of 2025 being -346 million, -257 million, -69 million, -25 million, -32 million, -40 million, -110 million, and -50 million respectively [2]. - The company's stock was suspended from trading on April 7, 2025, and resumed on April 21, 2025, with a significant price increase of 19.94% on the first day of trading after resumption, closing at 7.46 yuan [2]. Group 3: Earnings and Revenue Metrics - The company reported a total revenue of 500.6 million yuan for the year ending December 31, 2024, which is a 35.90% increase compared to the previous year [3]. - The net profit attributable to shareholders for the same period was -50.16 million yuan, reflecting an 18.24% decrease from the previous year [3]. - The company’s basic earnings per share for the year ending December 31, 2024, was -0.30 yuan, with a diluted earnings per share also at -0.30 yuan [3].

Core Viewpoint - Liansheng Technology announced the termination of its acquisition of a 69.71% stake in Xingshu Century due to failure to reach an agreement on key terms such as transaction price [2][5][6]. Group 1: Acquisition Details - In April 2023, Liansheng Technology planned to acquire control of Xingshu Century through a combination of issuing shares and cash payments, which was expected to constitute a major asset restructuring and related party transaction [5][8]. - The acquisition aimed to leverage synergies between Liansheng Technology and Xingshu Century, particularly in the photovoltaic and energy storage sectors, enhancing competitive advantages and market opportunities [11]. Group 2: Financial Performance - Xingshu Century reported revenues of CNY 1.037 billion and CNY 980 million for 2023 and 2024, respectively, with net profits of CNY 75.89 million and CNY 192 million [8]. - Liansheng Technology has faced continuous losses, reporting a net loss of CNY 39.73 million in 2023 and an expected loss of CNY 110 million in 2024 [15]. - As of mid-2025, Liansheng Technology's revenue was CNY 209 million, a year-on-year increase of 35.90%, but it still reported a net loss of CNY 50.16 million, a decline of 18.24% year-on-year [15][17]. Group 3: Market Reaction - The market reacted positively to the initial announcement of the acquisition, with Liansheng Technology's stock hitting the daily limit up on April 21, 2023, after the resumption of trading [12].

Core Viewpoint - Liansheng Technology announced the termination of its acquisition of a controlling stake in Xingshu Century due to failure to reach an agreement on key terms such as transaction price [1][2]. Group 1: Acquisition Details - Liansheng Technology planned to acquire 69.71% of Xingshu Century's shares through a combination of issuing shares and cash payments, alongside raising matching funds [3]. - The acquisition was expected to constitute a major asset restructuring and related party transaction [1][3]. - Xingshu Century is primarily engaged in photovoltaic power generation and has a strong asset-liability structure and profitability, with projected revenues of CNY 1.037 billion and CNY 980 million for 2023 and 2024, respectively [3][4]. Group 2: Financial Performance - Liansheng Technology has faced continuous losses, reporting a net profit loss of CNY 39.73 million in 2023 and an anticipated loss of CNY 110 million in 2024 [7]. - The company's revenue for the first half of 2025 was CNY 209 million, a year-on-year increase of 35.90%, but the net profit loss was CNY 50.16 million, a decline of 18.24% year-on-year [7][9]. - As of mid-2025, the company's debt pressure has increased, with a current ratio of 0.3 and a debt-to-asset ratio of 76.69% [7]. Group 3: Market Reaction - The market reacted positively to the initial acquisition announcement, with Liansheng Technology's stock hitting the daily limit on the day of its resumption of trading [5].

Core Viewpoint - Liansheng Technology announced the termination of its acquisition of a 69.71% stake in Xingshu Century due to failure to reach an agreement on key terms such as transaction price [1][3]. Group 1: Acquisition Attempt - In April 2023, Liansheng Technology planned to acquire control of Xingshu Century through a combination of issuing shares and cash payments, which was expected to constitute a major asset restructuring and related party transaction [2][3]. - The acquisition was aimed at leveraging synergies between Liansheng Technology and Xingshu Century, which specializes in photovoltaic power generation and integrated energy storage systems [4][3]. Group 2: Financial Performance - Xingshu Century projected revenues of CNY 1.037 billion and CNY 980 million for 2023 and 2024, respectively, with net profits of CNY 75.89 million and CNY 192 million [4]. - Liansheng Technology has faced continuous losses, reporting a net loss of CNY 39.73 million in 2023 and an expected loss of CNY 110 million in 2024 [7]. - The company's financial situation remains challenging, with a current ratio of 0.3 and a debt-to-asset ratio of 76.69% as of mid-2025 [7]. Group 3: Market Reaction - The market reacted positively to the initial announcement of the acquisition, with Liansheng Technology's stock hitting the daily limit on the day it resumed trading [5].

Group 1 - Galaxy Magnetics expects the Ministry of Commerce's export control decision on certain rare earth items to have a certain impact on its export business, with sales from samarium-cobalt magnets and hot-pressed neodymium-iron-boron magnets accounting for 9.47% of total sales in 2024 [4] - New Lai Materials' stock has seen a significant deviation from the growth of the ChiNext Index, indicating potential market overheating, although the company's fundamentals remain unchanged [5][6] - Longbai Group's subsidiary has filed a lawsuit for infringement of trade secrets, with the amount involved totaling 1.311 billion yuan [7] Group 2 - Chengdu Huamei has successfully launched its first zero-intermediate frequency RF transceiver chip, which is still in the early stages of market introduction and faces uncertainties in market demand [8] - Zhuhai Port has received approval from the China Securities Regulatory Commission to issue up to 1 billion yuan in technology innovation corporate bonds [9] - Yingjian Technology has warned investors about the risks of recent stock price increases, as its stock has deviated significantly from the market index [10] Group 3 - Xianda Co. expects a net profit increase of 2807.87% to 3211.74% year-on-year for the first three quarters, driven by significant price increases in its main product [13] - Shenghe Resources anticipates a net profit increase of 696.82% to 782.96% year-on-year for the first three quarters, supported by favorable market demand for rare earth products [14] - Xianggang Technology expects a net profit increase of 182% to 200% year-on-year for the first three quarters, attributed to ongoing market expansion efforts [15] Group 4 - Chongqing Steel is projected to incur a loss of 210 million to 230 million yuan for the first three quarters, an improvement from a loss of 1.35 billion yuan in the same period last year [22][25] - Yuanda Intelligent expects to turn a profit in the first three quarters, with a projected net profit of 33.84 million to 50.74 million yuan, compared to a loss in the previous year [23] - China Metallurgical Group reported a 14.7% year-on-year decline in new contract amounts for the first nine months, totaling 760.67 billion yuan [24][25]

Core Viewpoint - Liansheng Technology (300051) has announced the termination of its major asset restructuring plan, which involved acquiring a 69.71% stake in Xingchu Century Technology Co., Ltd. [2] Group 1: Transaction Details - The proposed transaction was to be executed through a combination of issuing shares and cash payments [2] - The fundraising was intended to be conducted through the issuance of shares to Hainan Liansheng Technology Co., Ltd., which is the controlling shareholder of Liansheng Technology [2] - The transaction was expected to be classified as a major asset restructuring but not as a restructuring listing [2] Group 2: Related Party Transactions - Hainan Liansheng is considered an affiliated entity, as its chairman, Huang Mingliang, is also the chairman of Liansheng Technology, and other board members hold positions in both companies [2] - Due to the involvement of related parties, the transaction was classified as a related party transaction under relevant regulations [2] Group 3: Decision to Terminate - The decision to terminate the restructuring was made after careful consideration and thorough analysis, as the parties involved could not reach an agreement on key terms such as transaction pricing [2] - Liansheng Technology confirmed that there would be no breach of contract responsibilities for the company or related parties as a result of this termination [2]

Core Viewpoint - The company has decided to terminate its plan to acquire a 69.71% stake in Xingchu Century Technology Co., Ltd. through a combination of share issuance and cash payment, along with the associated fundraising activities [1] Group 1 - The company intended to purchase the stake from 38 trading parties, including Zigong Jinma Industrial Investment Co., Ltd., Fuzhou Digital New Infrastructure Industry Investment Partnership (Limited Partnership), and Qingchuang Bole Dazhai (Qingdao) Equity Investment Partnership (Limited Partnership) [1] - The board of directors has approved the proposal to terminate the asset acquisition and fundraising activities, granting management the authority to handle the termination process [1]

Core Viewpoint - The company has decided to terminate its plan to acquire a 69.71% stake in Xingchu Century Technology Co., Ltd. through a combination of share issuance and cash payment, along with the associated fundraising activities [1] Group 1 - The company had previously intended to purchase the stake from 38 transaction parties, including Ziguo Jinma Industrial Investment Co., Ltd., Fuzhou Digital New Infrastructure Industry Investment Partnership (Limited Partnership), and Qingchuang Bole Dazhai (Qingdao) Equity Investment Partnership (Limited Partnership) [1] - The board of directors has approved the proposal to terminate the asset acquisition and fundraising activities, granting management the authority to handle the termination process [1]

格隆汇10月14日丨琏升科技(300051.SZ)公布，公司原拟通过发行股份及支付现金的方式，向自贡市金 马产业投资有限公司、福州数字新基建产业投资合伙企业（有限合伙）、青创伯乐大海（青岛）股权投 资合伙企业（有限合伙）等38名交易对方购买其合计持有的兴储世纪科技股份有限公司（简称"兴储世 纪"或"标的公司"）69.71%股份，同时公司拟向海南琏升科技有限公司（简称"海南琏升"）发行股份募 集配套资金。本次交易筹划以来，公司及相关各方积极推动各项工作进展，并严格按规定履行信息披露 义务。鉴于交易各方未能就交易价格等核心条款达成一致，为切实维护公司及全体股东利益，经审慎研 究并与交易对方协商，公司决定终止本次交易事项。 登录新浪财经APP 搜索【信披】查看更多考评等级 ...

Core Viewpoint - The company has decided to terminate the acquisition of a 69.71% stake in Xingchu Century due to a failure to reach an agreement on key terms such as transaction price, which is aimed at protecting the interests of the company and its shareholders [1] Group 1 - The company initially planned to acquire the stake through a combination of issuing shares and cash payments [1] - The transaction was expected to constitute a significant asset restructuring [1] - The decision to terminate the transaction was made after careful consideration and negotiations with the counterparty [1]