300264 控制权变更突然终止

Core Viewpoint - The planned change of control for Jiachuang Vision has been abruptly terminated after more than two months of preparation, with the company's stock price having surged prior to the suspension of trading [2][3]. Group 1: Control Change Announcement - Jiachuang Vision announced the termination of the control change on October 9, citing a lack of agreement on core transaction elements with the trading counterpart [2]. - The company had been suspended from trading since August 4, 2025, following a notification from its controlling shareholder, Chen Kunjian, regarding the planned change of control [2]. - A framework agreement was signed on August 7, 2025, outlining a three-step process for the transfer of control, including share transfers and a capital increase to solidify control [2]. Group 2: Stock Performance - Prior to the suspension, Jiachuang Vision's stock experienced significant gains, with a peak increase of over 13% on July 31, 2025, and a closing increase of nearly 7% [3]. Group 3: Company Background and Financial Performance - Established in October 2000 and listed on the Growth Enterprise Market in September 2011, Jiachuang Vision focuses on providing end-to-end solutions in the broadcasting industry and has expanded into various technology sectors since 2016 [3]. - Financially, the company has struggled since 2019, with revenues hovering around 100 million yuan and significant net losses reported each year, including a loss of approximately 7 million yuan in the first half of 2025 [3][4]. - As of June 2025, the company had only about 10 million yuan in cash but faced nearly 100 million yuan in interest-bearing short-term debt [4]. Group 4: Market Capitalization - As of the market close on October 9, 2025, Jiachuang Vision's market capitalization was 2.512 billion yuan [5].