688051，重大资产重组，周一停牌

Core Viewpoint - JiaHua Technology (688051) announced plans to acquire a controlling stake in Shudun Information Technology Co., Ltd. through a combination of share issuance and cash payment, which may constitute a significant asset restructuring. The company's stock will be suspended from trading starting November 24, 2025, for a period not exceeding five trading days [2][3]. Group 1: Acquisition Details - JiaHua Technology has signed a preliminary equity acquisition intention agreement with Zhu Yun, a major shareholder of Shudun Technology, to purchase shares held by him. The final price will be determined based on an assessment report from a qualified evaluation agency [3]. - The specific transaction details will be formalized in a subsequent agreement, and the final transaction counterparties will be disclosed in future announcements [3]. - The transaction will not result in a change of the actual controller of JiaHua Technology, and it is currently unclear whether this transaction constitutes a related party transaction [3]. Group 2: Shudun Technology Overview - Shudun Technology, established in 2002, specializes in domestic cryptography technology research, cryptographic information security product development, and overall information security solutions. It is one of the first companies recognized by the National Cryptography Administration for commercial cryptography qualifications [4]. - The company has developed four major systems: cryptographic security products, information security products, compliance services, and cryptographic evaluation services. It holds 23 commercial cryptography product certificates, 30 patents, 41 trademarks, and 90 software copyrights [4]. - Shudun Technology has received significant venture capital support throughout its development, with its latest financing round (D round) completed in October 2023, led by CICC Capital [4][5]. Group 3: Financial Performance of JiaHua Technology - JiaHua Technology has reported losses in the last three years. The total revenue for 2022, 2023, and 2024 was 261 million, 322 million, and 300 million yuan, respectively, with the first three quarters of 2025 reporting 166 million yuan [7]. - The net profit attributable to the parent company for the same periods was -288 million, -208 million, and -103 million yuan, with a loss of -67 million yuan in the first three quarters of 2025 [7]. - As of November 21, 2025, JiaHua Technology's total market capitalization was 3.712 billion yuan [8].