YSDZ(SZ:002289) Hua Xia Shi Bao·2025-09-21 00:56Core Viewpoint - The stock prices of non-WiTech Materials and *ST Yushun have surged significantly this year, with *ST Yushun's stock price increasing nearly tenfold since the beginning of the year, driven by strategic acquisitions and market speculation [2][10]. Group 1: Company Developments - *ST Yushun's major shareholder, Shanghai Fengwang, signed a strategic investment framework agreement with existing shareholders of Binge Technology, committing to an investment of 300 million yuan, expected to be completed within 30 days [2][4]. - The chairman of *ST Yushun, Ji Min, indicated that the major asset restructuring is close to completion but still requires shareholder approval and other processes before further acquisitions can be initiated [2][4]. - Binge Technology, established in 2020, is recognized as the largest AI computing power service provider in Southwest China, with a registered capital of 147 million yuan and operational capabilities involving nearly 30,000 computing power cards [5][6]. Group 2: Market Reactions and Speculations - The market reacted positively to the news of the investment in Binge Technology, leading to consecutive stock price increases for *ST Yushun, despite the ongoing restructuring process [2][8]. - Analysts suggest that the acquisition could indicate either the high quality of Binge Technology's assets or potential speculative motives from the major shareholder [4][8]. - The stock price of *ST Yushun has been subject to significant speculation, with over ten announcements regarding abnormal stock price fluctuations since the announcement of the major asset restructuring [9]. Group 3: Industry Context - The A-share market is experiencing unprecedented enthusiasm for mergers and acquisitions, supported by favorable policies, with over 40 completed mergers in the computing power data sector from 2022 to 2024 [4][9]. - The computing power industry is seen as a critical infrastructure for the smart era, with increasing demand for high-performance chips and a push from government policies to develop a systematic and high-quality computing power network [8][9].