DORIGHT(SZ:300950) Zheng Quan Shi Bao Wang·2025-11-07 14:17Core Viewpoint - Degute's planned major asset restructuring is likely to be terminated due to the inability to reach a satisfactory agreement among the parties involved within the effective time window [1][2]. Group 1: Restructuring Announcement - Degute announced the termination of the acquisition of 100% equity in Haowei Cloud Computing Technology Co., Ltd. due to the lack of a finalized substantial agreement among the parties [1]. - The termination of the major asset restructuring will not adversely affect the company's normal business operations [1]. Group 2: Background of the Acquisition - The acquisition was first announced on June 29, with a transaction proposal disclosed on July 13, aiming to purchase Haowei Technology through a combination of share issuance and cash payment [2]. - Haowei Technology provides digital and intelligent solutions to global telecom operators, cloud infrastructure service providers, and enterprise clients, with significant overseas operations in 20 countries [2]. Group 3: Strategic Rationale - Degute aimed to diversify its business from energy-saving equipment manufacturing to software and IT services through this acquisition, which was expected to create a second growth curve and accelerate the transition to new productive forces [2][3]. - The company highlighted that horizontal integration was limited by market space and competition, and that leveraging existing multi-industry experience in the digital field could enhance its competitive advantage [3]. Group 4: Financial Performance - In the first three quarters of the year, Degute reported revenue of 382 million, a year-on-year decrease of 9.29%, and a net profit of 72.26 million, down 26.39% [3]. - The company maintained a gross margin of 40.39%, an increase of 0.62 percentage points year-on-year, attributed to its international strategy [3]. - As of June 30, 2025, Degute had an order backlog of 558 million, an increase of 8.35% year-on-year, with overseas project orders accounting for 41.22% of the total [3].