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Core Viewpoint - Lingzhi Software plans to acquire 100% equity of Kaimirui Technology through a combination of share issuance and cash payment, which is expected to constitute a significant asset restructuring [2][5]. Group 1: Transaction Details - The share purchase price is set at 15.31 yuan per share, which is not less than 80% of the average trading price over the last 60 trading days prior to the pricing benchmark [5]. - The transaction is anticipated to involve related party transactions, as certain parties will hold more than 5% of the company's shares post-transaction [5]. - The controlling shareholders of Kaimirui are Rao Xi and Dong Kunlin, who collectively control 61.94% of the equity [5]. Group 2: Strategic Intent - The acquisition aims to enhance Lingzhi Software's comprehensive service capabilities and market competitiveness in the financial technology sector, particularly in response to domestic financial institutions' needs for core system localization and data security [7]. - Lingzhi Software provides a full range of software development services across various financial sectors, while Kaimirui focuses on integrated solutions for financial institutions, including risk management and digital transformation [7]. Group 3: Financial Impact - Post-transaction, Lingzhi Software's total assets, net assets, revenue, and net profit are expected to improve, thereby enhancing its ongoing operational capabilities [8]. - As of Q3 2025, Lingzhi Software's total assets are projected to be 1.749 billion yuan, with net assets of 1.232 billion yuan, while Kaimirui's total assets are 366 million yuan and net assets are 195 million yuan [8]. - Kaimirui's recent financial performance shows a declining trend, with revenues of 292 million yuan, 229 million yuan, and 117 million yuan for 2023, 2024, and the first three quarters of 2025, respectively [11]. Group 4: Industry Challenges - The financial technology sector is experiencing increased competition, leading to aggressive pricing strategies that may compress profit margins and pose risks to Kaimirui's profitability and service quality [13]. - Lingzhi Software has indicated that if the industry continues to face persistent price competition, it could erode Kaimirui's reasonable profits and impact its long-term market competitiveness [13].