连续三年亏损，实控人又要变，股价涨停！

Core Viewpoint - Zhongda An Co., Ltd. plans to issue up to 42.04 million A-shares to Xiamen Jianxi, raising a maximum of 366 million RMB, resulting in a change of control to Xiamen Jianxi, which will hold 23.08% of the shares and have Wang Li as the actual controller [1][3][4] Group 1: Share Issuance and Control Change - The share issuance will allow Xiamen Jianxi to become the controlling shareholder of Zhongda An, with Wang Li as the new actual controller [3][4] - Prior to this issuance, the controlling stake was held by Licheng Holdings and its partner, with a combined voting power of 19.13%, which will decrease to 14.72% post-issuance [3][4] - The share price for the issuance is set at 8.70 RMB per share, with the total funds raised expected to be used for working capital and debt repayment [4][5] Group 2: Business Strategy and Financial Health - Zhongda An aims to expand its operational scale, enhance market share, and optimize business layout, focusing on high-quality development across various sectors including energy and construction [4][5] - The company has a high debt ratio of 71.05% as of March 31, 2025, indicating reliance on bank loans for financing [5] - The company has experienced fluctuating revenues and net profits from 2020 to 2024, with net profits showing three consecutive years of losses [9] Group 3: Recent Acquisitions and Risks - Recent acquisitions include a 100% stake in Tongxin Tonghe and a 51% stake in Disen New Energy, with significant valuation increases noted [7][8] - The company faces risks related to goodwill impairment, with goodwill values decreasing over the years and potential future impairments impacting financial performance [10]