KINGSUN(SZ:300235) Mei Ri Jing Ji Xin Wen·2025-11-11 07:12Core Viewpoint - Fangzhitech's announcement of a 116 million yuan acquisition of Beijing Zhixiang Technology Development Co., Ltd. has raised concerns in the market, leading to a significant drop in its stock price by over 10% [1][2] Group 1: Acquisition Details - The acquisition aims to open new business areas, enhance existing business strength, and reduce related party transactions to improve the company's independence [1] - Zhixiang Technology, established in March 2016, is a pioneer in AI classrooms and intelligent learning spaces [1] Group 2: Financial Performance - Zhixiang Technology reported a revenue of 18.59 million yuan and a net profit of 2.61 million yuan in the first half of the year, but had a negative cash flow of -7.60 million yuan [2] - Fangzhitech is facing its own performance decline, with a projected revenue drop of 9.43% and a net profit decrease of 45.50% for 2024 [2] - For the first three quarters of 2025, Fangzhitech's revenue and net profit are expected to decrease by 27.85% and 62.41%, respectively [2] Group 3: Market Concerns - The related party nature of the transaction has raised questions about potential risks of profit transfer, making it crucial for Fangzhitech to convince investors of the transaction's benefits [2] - Transparency in the acquisition process, including pricing rationale and financial status of the target company, is essential to build investor confidence [3] Group 4: Strategic Recommendations - Fangzhitech should clearly articulate how the acquisition will create synergies with existing operations and enhance overall competitiveness [3] - The company must adopt effective measures to mitigate risks associated with related party transactions to ensure fairness and integrity [3] - Leveraging its brand and market advantages, Fangzhitech needs to respond to industry changes through innovation and transformation for sustainable growth [3]