002600，重大资产重组终止，另有隐情

Core Viewpoint - The major asset restructuring of Lingyi Zhizao (002600) has been terminated by the Shenzhen Stock Exchange due to the company's withdrawal of its application for the restructuring [1][3][4]. Group 1: Restructuring Status - On November 13, the Shenzhen Stock Exchange announced the termination of the major asset restructuring review for Lingyi Zhizao [1]. - The restructuring had previously been approved on August 8, but the company did not proceed to the registration stage [3][10]. - Lingyi Zhizao submitted a request to withdraw its application for issuing convertible bonds and purchasing assets, leading to the termination of the review [4]. Group 2: Adjustments to the Restructuring Plan - On November 8, Lingyi Zhizao announced plans to adjust the asset purchase scheme, changing the transaction method and price [3][11]. - The company intends to purchase the controlling stake in Jiangsu Keda using cash, which no longer qualifies as a major asset restructuring under the rules [11][12]. - The original plan involved issuing convertible bonds and cash to acquire 66.46% of Jiangsu Keda for a total price of 332 million yuan [4][5]. Group 3: Implications of the Restructuring - The acquisition was expected to enhance Lingyi Zhizao's automotive business, transitioning from tier 2 to tier 1 supplier status and expanding its market presence in automotive components [6]. - The restructuring was initially scrutinized for the reasonableness of the target company's performance forecasts, including gross margin fluctuations and order backlog [7].