询价结果出炉：折价16%转让，东芯股份控股股东及一致行动人或减持超10亿元

Core Viewpoint - Dongxin Co., Ltd. announced a share transfer at a price of 82.50 CNY per share, representing a 16% discount from its closing price of 97.85 CNY on October 13, 2023, with a total value of 1.095 billion CNY for the shares being transferred [1] Group 1: Share Transfer and Financial Details - The share transfer involves 12 institutional investors acquiring a total of 13.2675 million shares [1] - The controlling shareholder, Dongfang Hengxin Group, along with its action-in-concert party, Suzhou Dongxin Kechuang Equity Investment Partnership, is the seller of the shares [1] - The total market capitalization of Dongxin Co., Ltd. is approximately 43.274 billion CNY [1] Group 2: Investment in Lishuan Technology - Dongxin Co., Ltd. invested 200 million CNY to acquire a 37.88% stake in Lishuan Technology, making it the largest shareholder alongside Nanjing Lishuan Technology [2] - In August 2025, Dongxin Co., Ltd. plans to further invest approximately 211 million CNY to maintain its status as the largest shareholder with a 35.87% stake [2] - Lishuan Technology focuses on the research and design of scalable GPU chips, aiming to address key issues in the domestic GPU architecture [2] Group 3: Financial Performance of Lishuan Technology - As of July 31, 2025, Lishuan Technology reported a net asset deficit of 86.33 million CNY, with zero revenue and a net loss of 155 million CNY for the first half of 2025 [2][3] - The continuous capital injection from Dongxin Co., Ltd. contrasts with the selling actions of its controlling shareholders [2][3] Group 4: Market Competition and Risks - The global discrete graphics card market is dominated by NVIDIA and AMD, creating a highly concentrated oligopoly [4] - Domestic GPU products, including those from Lishuan Technology, face significant challenges due to limitations in R&D capabilities and market maturity [4] - The commercialization of Lishuan Technology's products is critical, as delays in market entry could adversely affect cash flow and strategic positioning [4]