刚宣布！688521 重大资产重组！明日复牌

Core Viewpoint - Chip Origin Co., Ltd. plans to acquire 97.007% equity of Chip Coming Technology, which is expected to constitute a major asset restructuring, with trading resuming on September 12 [2][5]. Group 1: Acquisition Details - The acquisition will be executed through a combination of issuing shares and cash payments, with the share price set at 106.66 yuan per share, not less than 80% of the average trading price over the previous 20 trading days [8]. - Chip Origin currently holds 2.993% of Chip Coming Technology, and upon completion of the transaction, Chip Coming will become a wholly-owned subsidiary [5][10]. - The transaction involves several parties, including Xiaomi Industrial Investment and others, with the total consideration yet to be determined [5][6]. Group 2: Market Context and RISC-V Development - Chip Coming Technology is one of the first companies in China to build an application ecosystem based on the RISC-V open instruction set architecture, which is gaining significant traction due to AI applications [2][11]. - The global shipment of chips based on RISC-V architecture is projected to reach 80 billion units by 2025, with applications in various sectors including AI, automotive electronics, and IoT [11]. Group 3: Financial Performance - As of June 30, 2025, Chip Origin's total assets were 6.32 billion yuan, with a revenue of 974 million yuan for the first half of 2025, reflecting a year-on-year growth of 4.49% [11][12]. - Chip Origin reported a net loss of 320 million yuan for the first half of 2025, compared to a loss of 285 million yuan in the same period of 2024 [12][11]. - Chip Coming Technology has not yet achieved profitability, with net losses reported for the years 2023, 2024, and the first quarter of 2025 [14][17].