YSDZ(SZ:002289) Hua Xia Shi Bao·2025-09-20 06:40Group 1 - The stock prices of non-listed companies, such as Non-Wai New Materials and *ST Yushun, have surged significantly this year, with *ST Yushun's stock price increasing over 12 times following its asset acquisition announcement [2] - On September 14, 2023, Bianji Technology announced a strategic investment framework agreement with Shanghai Fengwang, the major shareholder of *ST Yushun, for a capital increase of 300 million yuan, which is expected to be completed within 30 days [2][3] - The chairman of *ST Yushun, Ji Min, stated that the major asset restructuring is nearly complete but still requires shareholder approval and other processes before any new acquisitions can be initiated [2][3] Group 2 - Industry insiders suggest that the enthusiasm for mergers and acquisitions in the A-share market is unprecedented, with Shanghai Fengwang's eagerness to acquire assets despite the ongoing restructuring of *ST Yushun [3] - Ji Min emphasized that Bianji Technology is a high-quality asset that aligns with Shanghai Fengwang's investment strategy, which prompted the swift decision to invest [4] - Bianji Technology, established in 2020, is a leading AI computing power service provider in Southwest China, operating nearly 30,000 computing power cards and securing access to high-end chips, including those from Nvidia [4][5] Group 3 - Bianji Technology has formed joint laboratories with top universities and has been recognized in the Ministry of Industry and Information Technology's computing power foundation list, indicating its strong market position [5] - The investment in Bianji Technology is driven by its expected profitability, although specific financial details were not disclosed [5] - Ji Min clarified that the business of Bianji Technology does not compete with *ST Yushun's existing operations, as they focus on different aspects of the data center industry [6]