控制权变更“告吹”，资金链压力大，佳创视讯如何破困局？

Core Viewpoint - The termination of the control change at Jiachuan Vision has raised significant market concerns, particularly due to the lack of clarity regarding the timing and reasons for the decision [1][2]. Group 1: Control Change Termination - Jiachuan Vision announced the termination of its control change plans on October 9, citing failure to reach consensus on core transaction elements, which left many questions unanswered in the market [1][2]. - The control change process began on August 1, 2025, when the controlling shareholder notified the company of the planned change, leading to a stock suspension [1]. - Prior to the suspension, the company's stock experienced a significant increase, with a maximum intraday rise of over 13% on July 31, raising suspicions of insider trading [1]. Group 2: Financial Condition - Jiachuan Vision has faced ongoing financial difficulties, with revenue stagnating around 10 million yuan since 2019 and a net loss of over 7 million yuan in the first half of 2025 [2]. - As of June 30, the company had approximately 10 million yuan in cash but nearly 100 million yuan in interest-bearing short-term debt, indicating severe cash flow pressure [2]. Group 3: Recommendations for Improvement - The company needs to take immediate transparent actions, including detailed disclosure of the decision-making process behind the termination and an investigation into prior stock price fluctuations [2]. - It is essential for Jiachuan Vision to develop practical operational improvement and financial solutions to alleviate its financial pressures [2]. - Strengthening internal governance and information disclosure mechanisms is crucial for rebuilding market trust [2].