Hua Xia Shi Bao·2025-11-13 04:16Core Viewpoint - ST Zhongdi's stock price surged by 153.19% over 20 trading days, leading to a trading suspension for verification due to significant price volatility [1][3]. Group 1: Stock Performance and Trading Suspension - ST Zhongdi announced a stock price increase of 153.19% from October 16 to November 12, resulting in a trading suspension starting November 13 for up to three days [1][3]. - The company recorded 19 consecutive trading limit-ups since October 17, with a current market capitalization of 3.205 billion [3]. Group 2: Shareholder Changes and Auction Details - The recent surge in ST Zhongdi's stock price was triggered by an announcement on October 17 regarding the second judicial auction of shares held by its controlling shareholder, Guangdong Runhong [5]. - Shenzhen Tianwei Investment acquired 71.1448 million shares for approximately 2.55 billion, representing 23.77% of ST Zhongdi's total share capital, leading to a change in control [5][7]. - The auction was dramatic, with Tianwei Investment placing a bid just six minutes before the deadline, after the shares had previously gone unsold [6]. Group 3: New Shareholder Background - Tianwei Investment, established on July 22, 2023, is co-founded by semiconductor veterans Meng Hongda and Zhang Wei, who are also the founders of Shenzhen Tianwei [8]. - Shenzhen Tianwei is a recognized high-tech enterprise engaged in integrated circuit design and semiconductor equipment manufacturing [8]. Group 4: Financial Risks and Challenges - ST Zhongdi faces severe delisting risks, with negative equity of -8.5168 million as of Q3 2025, and a significant decline in revenue and profits [10][11]. - The company has substantial debts, including approximately 5.92 billion in unpaid bank loans and potential liabilities exceeding 1.4 billion due to guarantees [12]. - Despite the change in control, there are no immediate plans for business transformation or asset injection, raising concerns about the company's ability to address its financial challenges [12].