Yangjie Technology(SZ:300373) Zhong Guo Jing Ji Wang·2025-10-24 06:12Core Viewpoint - Yangjie Technology has announced the termination of its cash acquisition of 100% equity in Better Electronics due to significant differences in business types, management styles, and corporate cultures between the two companies, leading to disagreements on future operational philosophies [1][2]. Group 1: Termination of Acquisition - On October 23, 2025, Yangjie Technology's board approved the termination of the acquisition of Better Electronics, agreeing not to pursue any breach of contract claims against the shareholders involved [2]. - The decision to terminate the acquisition was made after careful analysis and communication with relevant parties, ensuring that no economic losses or adverse financial impacts would arise from this termination [2]. - The termination of the transaction will not materially affect the company's development strategy or operational aspects [2]. Group 2: Previous Acquisition Details - Yangjie Technology had previously planned to acquire 100% of Better Electronics for a total consideration of RMB 221.8 million, based on an assessment value of RMB 222 million for the company's equity [3][4]. - The acquisition was not classified as a major asset restructuring and was considered a related party transaction, requiring approval from the shareholders' meeting [3]. - Performance commitments were set for Better Electronics, with a promise to achieve a net profit of no less than RMB 555 million from 2025 to 2027 [3]. Group 3: Financial Assessment - The assessed value of Better Electronics' total equity was RMB 222 million, representing an increase of RMB 162.1 million (an increase rate of 270.46%) compared to the book value of RMB 59.9 million [4]. - The financial audit for Better Electronics indicated revenues of RMB 837.4 million and RMB 217.6 million for the years 2024 and the first quarter of 2025, respectively, with net profits of RMB 148.5 million and RMB 41.1 million for the same periods [4]. Group 4: Other Related Transactions - Yangjie Technology had previously announced the termination of a plan to issue shares and pay cash for asset acquisition and fundraising on July 4, 2025, indicating a shift in strategy regarding the acquisition of Better Electronics [5][6]. - The company had intended to issue shares and pay cash to 67 counterparties for the acquisition but decided to terminate this plan after thorough consideration and discussions [6]. Group 5: Regulatory Developments - The Shenzhen Stock Exchange disclosed on August 28, 2024, the termination of the review for Better Electronics' initial public offering application, which had been submitted on June 27, 2023 [7].