YSDZ(SZ:002289) Shang Hai Zheng Quan Bao·2025-11-17 19:21Core Viewpoint - Shenzhen Yushun Electronics Co., Ltd. has approved a proposal to purchase a 6% equity stake in Hebei Aihua Data Technology Co., Ltd. from its controlling shareholder, Shanghai Fengwang Industrial Co., Ltd., for a total consideration of RMB 3 million [4][11][38]. Group 1: Meeting Resolutions - The board meeting on November 17, 2025, was attended by all seven directors, and the proposal was passed with 4 votes in favor, 0 against, and 0 abstentions [2][4]. - The supervisory board meeting also approved the same proposal with 3 votes in favor, 0 against, and 0 abstentions [8][38]. Group 2: Transaction Details - The transaction involves purchasing 6% of the equity of Hebei Aihua Data Technology Co., Ltd. for RMB 3 million, which has already been fully paid by Shanghai Fengwang [4][11]. - The independent directors reviewed and approved the proposal before it was submitted to the board [13][38]. Group 3: Financial and Operational Context - Shanghai Fengwang, the selling party, has a negative net asset value of RMB -229.89 million as of September 30, 2025, with no revenue generated in 2024 and a net loss of RMB -80.54 million for the first nine months of 2025 [15]. - Hebei Aihua Data Technology Co., Ltd. was established on August 29, 2023, with a registered capital of RMB 50 million and is currently in the project preparation phase for a data center project in Zhangjiakou, Hebei [18][20]. Group 4: Strategic Implications - The investment aligns with the company's strategic goals and aims to enhance its competitive position in the IDC industry while controlling investment risks [36][38]. - The company does not plan to increase its stake in Hebei Aihua Data Technology Co., Ltd. in the near future, focusing instead on the current investment [22][38].