Core Viewpoint - The acquisition plan by Baicheng Co., Ltd. (601133) to purchase 55% of Shanghai Canxi Engineering Equipment Co., Ltd. has been terminated due to failure to reach agreement on key terms, leading to the end of the deal just 10 days after its announcement [1][5]. Group 1: Acquisition Details - Baicheng Co. announced the termination of the acquisition plan on October 10, 2023, which had been under consideration since September 30, 2023 [1]. - The company had previously signed an investment cooperation framework agreement with the sellers, which included specific pricing based on a report from a qualified assessment agency [5]. - The termination of the acquisition is stated not to adversely affect the company's business operations, financial status, or shareholder interests [5][6]. Group 2: Financial Performance - Baicheng Co. has experienced a decline in net profit, with a year-on-year decrease of 14.7% in 2023, followed by a further decline of 0.8% in 2024, and a continuation of this trend in the first half of 2025 [6][8]. - The company's revenue for the first half of 2025 was reported at 2.424 billion yuan, a decrease of 3.14% year-on-year, with a net profit attributable to shareholders of 83.4953 million yuan, reflecting a decline of 16.1% [8]. - The primary reason for the profit decline is attributed to an increase in bad debt provisions for contract assets, with asset impairment losses reaching 50.8 million yuan, a significant increase of 55% compared to the same period last year [8].
并购“十日游”！柏诚股份股价应声大跌