Core Viewpoint - The company, JiaChuang Video (300264), announced a significant change in control as the controlling shareholder and actual controller, Chen Kunjiang, will transfer control to Mao Guangfu and Li Li, following a framework agreement signed on August 7 [1] Summary by Relevant Sections - **Control Change Agreement** - On August 7, a framework agreement for the change of control was signed between Chen Kunjiang and the new potential controlling shareholders, Mao Guangfu and Li Li [1] - **Impact on Shareholding** - If the control change proceeds smoothly, the company's controlling shareholder will shift from Chen Kunjiang to the couple Mao Guangfu and Li Li [1] - **Stock Resumption** - The company's stock is set to resume trading on August 11 following the announcement of the control change [1]

佳创视讯8月10日晚间发布公告称，经公司向深圳证券交易所申请，公司股票证券代码：300264，证券 简称：佳创视讯）自2025年8月11日（星期一）开市起复牌。 （文章来源：每日经济新闻） ...

重要内容提示： 1、本次签署的仅为框架性协议，尚处于筹划、意向阶段，正式协议尚未签署；本框架 协议生效后，尚需进行尽职调查，存在正式协议能否签署以及本次控制权变更事项能否最终 达成的不确定性。 证券代码：300264 证券简称：佳创视讯 公告编号：2025-031 深圳市佳创视讯技术股份有限公司 关于筹划控制权变更进展暨复牌的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有 虚假记载、误导性陈述或重大遗漏。 特别提示： 公司股票（ 证券代码：300264，证券简称：佳创视讯）自2025年8月11日（星期一） 开市起复牌。 2、本次股份转让不存在《上市公司股东、董监高减持股份的若干规定》中关于上市公 司大股东不得减持股份的情形。 3、若本次控制权变更顺利推进并实施完成，本公司控股股东、实际控制人将由陈坤江 先生变更为毛广甫与李莉夫妇。 4、该框架协议的签署不会对公司的正常生产经营产生不利影响。公司将根据后续进展 情况及时履行信息披露义务，敬请广大投资者理性投资，注意投资风险。 一、停牌事项概述 深圳市佳创视讯技术股份有限公司（以下简称"公司"）于2025年8月1日收到控股股东、 实际控制人陈 ...

Core Viewpoint - The company announced a change in control, with the current controlling shareholder Chen Kunjian transferring control to Mao Guangfu and Li Li, pending successful implementation of the agreement [1] Group 1 - The controlling shareholder and actual controller of the company will change from Chen Kunjian to the couple Mao Guangfu and Li Li [1] - A framework agreement for the change of control has been signed between Chen Kunjian, Li Li, and Mao Guangfu [1] - The company's stock will resume trading on August 11, 2025, following the completion of the control change [1]

Core Viewpoint - The company, Jiachuan Vision, is experiencing significant turmoil regarding its control structure, with a recent announcement of a potential change in its controlling shareholder just three months after a capital increase aimed at consolidating control [2][3][4]. Group 1: Company Financials and Performance - As of the end of 2024, the company's consolidated debt-to-asset ratio reached 89.15%, indicating high leverage and significant debt repayment pressure [3]. - The company has reported continuous losses, with the net profit attributable to the parent company showing a decline for seven consecutive years, and cash flow from operating activities has been negative since 2020 [4][5]. - In the first quarter of 2025, the company reported a net profit of 1.94 million yuan, a year-on-year increase of 115.85%, but still faced a negative net cash flow from operating activities of -10.08 million yuan [5]. Group 2: Market and Strategic Context - The company operates in the broadcasting industry, which has been under competitive pressure, leading to a significant drop in product gross margin from 28.83% in 2023 to 4.81% in 2024, a decline of over 83% [4][5]. - The company's stock price was reported at 6.86 yuan per share before suspension, with a total market capitalization of 2.956 billion yuan [2]. - The potential change in control may be influenced by the company's deteriorating fundamentals, market conditions, or the controlling shareholder's financial pressures, suggesting a strategic move to maximize value [4][6].

Group 1 - The company has received notification from its controlling shareholder, Chen Kunjian, regarding the planning of a change in company control [1] - Due to the significant uncertainty surrounding this matter, the company has applied for a trading suspension, effective from August 4, 2025, for a period not exceeding two trading days [1] - As of the announcement date, the parties involved are actively advancing the transaction discussions, and the overall plan is still under negotiation, leading to an inability to resume trading on August 6, 2025 [1][2] Group 2 - During the suspension period, the company will fulfill its information disclosure obligations in accordance with relevant laws and regulations [2] - The company will issue timely announcements and apply for resumption of trading once the relevant matters are confirmed [2]

Core Viewpoint - Jiachuan Vision (300264) announced a suspension of its stock trading due to the planning of a change in control, with the suspension expected to last no more than three trading days [1] Group 1 - The company received a notification from its controlling shareholder and actual controller, Chen Kunjian, regarding the ongoing planning of a change in control [1] - Various parties are currently discussing and negotiating specific transaction plans and agreements related to the control change [1] - The stock has been suspended since August 4, and the company will fulfill its information disclosure obligations during the suspension period [1]

Group 1 - The company Jiachuan Vision (300264.SZ) announced that as of the date of this announcement, relevant parties are actively promoting the transaction, and the overall plan is still under negotiation [1] - The company expects that it will not be able to resume trading on August 6, 2025, due to significant uncertainties surrounding the matter [1] - To ensure fair information disclosure and protect investor interests, the company has applied to the Shenzhen Stock Exchange for a continued suspension of its stock from trading starting August 6, 2025, with an expected suspension period of no more than three trading days [1]

Core Viewpoint - The actual controller of Jiachuan Vision, Chen Kunjian, is planning to transfer his shares, which may lead to a change in the company's controlling shareholder and actual controller [2][3]. Financial Performance - Jiachuan Vision has experienced fluctuating revenues since 2019, never exceeding 200 million yuan, and has reported net losses for six consecutive years, totaling 514 million yuan and 567 million yuan for net profit and net profit excluding non-recurring items, respectively [2][11]. - In Q1 2025, Jiachuan Vision reported a revenue of 56.1 million yuan, a year-on-year increase of 207.34%, and a net profit of 1.94 million yuan, up 115.85% year-on-year [13]. - The company’s asset-liability ratio was 87.79% at the end of Q1 2025, indicating a high level of debt [6]. Shareholder and Capital Structure - Chen Kunjian currently holds 18.63% of Jiachuan Vision's shares, valued at approximately 550 million yuan [4]. - A planned private placement aims to raise up to 140 million yuan to supplement working capital and repay loans, with Chen Kunjian as the intended recipient of the shares [4][5]. Business Operations and Challenges - Jiachuan Vision's business relies heavily on the broadcasting industry, which has long payment cycles, leading to high accounts receivable [7][8]. - The company has faced significant financial pressure due to high bank borrowings and interest expenses, with short-term liabilities reaching 88.96 million yuan against cash reserves of only 15.35 million yuan as of Q1 2025 [9][10]. - The company has been investing heavily in research and development, with R&D expenses exceeding 20 million yuan annually since 2017, despite ongoing financial challenges [15]. Market Position and Future Outlook - The broadcasting industry is undergoing a transformation, with new demands emerging as the "National One Network" project is completed and 5G technology is widely adopted [13]. - Jiachuan Vision is actively pursuing innovation in technologies such as AR/VR/MR and AI, positioning itself to capitalize on industry trends [13].

Core Viewpoint - The recent developments regarding the shareholding of Jiachuan Vision indicate a potential change in control, as the actual controller Chen Kunjian plans to transfer his shares, which may lead to a shift in the company's governance structure [2][7]. Group 1: Shareholding Changes - In April, Jiachuan Vision announced a private placement to raise up to 140 million yuan, aimed at consolidating Chen Kunjian's control over the company [2][4]. - On August 3, Jiachuan Vision disclosed that Chen Kunjian is planning to transfer his shares, which could result in a change of the controlling shareholder [2][6]. - If the transfer of control is completed, the previously planned private placement will be terminated [7]. Group 2: Financial Performance - Jiachuan Vision has faced continuous financial losses, with net profits declining for six consecutive years since 2019 and a non-recurring net profit loss for eight years since 2017 [9][10]. - The company's revenue for 2024 was reported at 149 million yuan, a year-on-year increase of 14.16%, but it still incurred a net loss of 58.05 million yuan [11]. - The primary reasons for the losses include declining gross margins in traditional business, decreased revenue from emerging businesses, high R&D costs, and significant asset impairment losses [12]. Group 3: Industry Context - Jiachuan Vision operates primarily in the broadcasting industry, which has become increasingly competitive, impacting the company's profitability [10]. - The broadcasting sector accounted for 96.7% of the company's total revenue in 2024, highlighting its reliance on this market [11].