MENGTIAN(SH:603216) Di Yi Cai Jing Zi Xun·2025-11-19 12:01Core Viewpoint - The recent termination of the acquisition and control transfer plans by Mengtian Home (603216.SH) reflects broader challenges in the A-share market regarding mergers and acquisitions, highlighting difficulties in reaching consensus on key terms among parties involved [1][2][6]. Company Summary - Mengtian Home announced the termination of its plans to acquire control of Shanghai ChuanTu Microelectronics through a share issuance and cash payment, alongside the cessation of its controlling shareholder's control transfer plans [2][3]. - The company's controlling shareholder and related parties transferred 6.86% of shares at a premium of 11.21%, raising approximately 267 million yuan [3][5]. - Following the announcement, Mengtian Home's stock price hit the daily limit up on November 19 [2][3]. Industry Context - The trend of terminated mergers and acquisitions is not isolated to Mengtian Home, as several other companies in the A-share market have faced similar challenges, often due to disagreements on core terms during negotiations [6][7]. - Factors contributing to the difficulties in mergers and acquisitions include market environment changes, strategic adjustments by companies, and the complexity of negotiations [7][8]. - The scarcity of quality target assets and the presence of valuation bubbles further complicate the negotiation process, making it hard for parties to agree on pricing [8][9].