JLGF(SZ:000712) Sou Hu Cai Jing·2025-07-24 13:20Core Viewpoint - Jinlong Co., Ltd. is planning to invest in computing power by acquiring a 29.3% stake in Shenzhen Benmao Technology Co., Ltd., leveraging the 2.271 billion yuan from the recent sale of Dongguan Securities shares, marking a strategic shift after years of financial struggles [3][7][10]. Group 1: Investment Strategy - The investment in Shenzhen Benmao is part of Jinlong's broader strategy to transition into the computing power sector, which began over a year ago with a proposed 1 billion yuan computing power leasing plan that has yet to show tangible progress [4][8]. - The company aims to collaborate with experienced partners in the computing power field, sharing revenue from client sales, with an initial investment of approximately 1.03 million yuan for the first phase of the project [8][9]. Group 2: Financial Background - Jinlong has faced significant financial challenges, including continuous losses and high debt levels, prompting the sale of core assets to stabilize its finances [5][6]. - The successful completion of the sale of 20% of Dongguan Securities shares for 2.271 billion yuan allowed Jinlong to turn a profit in the first half of the year, enabling the new investment initiative [7][10]. Group 3: Historical Context - Shenzhen Benmao, which has seen its revenue double over four years, is now facing profitability challenges as it prepares for Jinlong's acquisition [4][10]. - The exit of Shenzhen Media Group from its investment in Benmao after four years reflects a shift in strategy, as the anticipated IPO did not materialize [10][14].