Core Viewpoint - Tianyima plans to acquire controlling stake in Xingyun Kaiwu to accelerate its IoT and SaaS business layout [2][6] Group 1: Acquisition Details - Tianyima announced it will acquire all or part of Xingyun Kaiwu's equity through a combination of issuing shares and cash payments, while also raising matching funds [6] - The transaction is expected to constitute a major asset restructuring but will not involve a restructuring listing [2][6] - The stock will be suspended from trading starting June 10, with a plan to disclose the transaction details within 10 trading days [3] Group 2: Business Synergy - Tianyima focuses on smart city solutions, covering digital services in government, education, healthcare, and transportation, while Xingyun Kaiwu specializes in smart self-service device digital services [7] - Xingyun Kaiwu has provided IoT and SaaS management services for over 3 million self-service devices across various sectors [7] - The target company holds 55 invention patents, 95 utility model patents, and 115 software copyrights, recognized as a "specialized and innovative small giant" enterprise by the Ministry of Industry and Information Technology [7] Group 3: Financial Performance - Tianyima's net profit has declined for three consecutive years, with a reported revenue of 224 million yuan in 2024, down 45.46% year-on-year [10] - The company recorded a net loss of approximately 49.55 million yuan in 2024, transitioning from profit to loss [10] - Operating cash flow for 2024 was negative 54.24 million yuan, a decrease of 747.2% year-on-year [10] Group 4: Market Position - As of June 9, Tianyima's stock closed at 44.51 yuan per share, with a market capitalization of 2.987 billion yuan [11]
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