YSDZ(SZ:002289) Xin Lang Cai Jing·2025-05-26 08:15Core Viewpoint - The recent revision of the "Major Asset Restructuring Management Measures for Listed Companies" has sparked a wave of mergers and acquisitions among ST companies, with *ST Yushun (002289.SZ) potentially leading the way into substantive transactions [1][2] Group 1: *ST Yushun's Restructuring Progress - *ST Yushun is actively advancing its major asset restructuring, conducting due diligence, audits, and evaluations on the target companies [1] - The company signed a framework agreement with OliveIda Limited to acquire 100% equity of three target companies, which operate a data center project with approximately 8,000 cabinets [1] - As of May 7, *ST Yushun has paid a sincerity deposit of 30 million yuan and agreed on a package transaction arrangement with an exclusivity period until June 30, 2025 [2] Group 2: Broader Market Trends Among ST Companies - Several ST companies are planning significant asset restructurings, a trend that is relatively rare in the market [2] - ST United is considering acquiring part or all of the equity of RunTian Industrial through a combination of share issuance and cash payment [2] - ST Nan Zhi has announced plans to transfer its real estate development assets and liabilities to its controlling shareholder [2] Group 3: Policy Impact on Small and Medium-Sized Companies - The revised policy has created favorable conditions for small and medium-sized companies to pursue acquisitions of larger, high-quality assets [3] - The establishment of a phased payment mechanism for share consideration in restructurings is beneficial for these companies [3] - Since the introduction of the "Six Merger Rules," the scale and activity of the merger and acquisition market have significantly increased, with over 1,400 asset restructuring disclosures [3]