Bingo Software (SH:688227) Shang Hai Zheng Quan Bao·2025-11-25 18:10Core Viewpoint - The stock of Guangzhou Pingao Software Co., Ltd. has experienced a significant abnormal fluctuation, with a cumulative closing price increase of over 100% during the ten trading days from November 12 to November 25, 2025 [2][6]. Group 1: Stock Trading Abnormality - The company confirmed that there are no undisclosed significant matters related to the stock price fluctuation, and its production and operations are normal [2][6]. - The stock trading abnormality is classified under the Shanghai Stock Exchange's regulations, indicating serious trading fluctuations [2][6]. Group 2: Share Transfer Agreement - The company's controlling shareholder, Beijing Shangao, has signed share transfer agreements to transfer 13,566,633 shares, accounting for 12% of the total shares, to two entities without changing the control of the company [7][8]. - The transferor has committed not to reduce their remaining shares for 12 months after the transfer is completed [7][8]. Group 3: Investment in Jiangyuan Technology - The company plans to invest 400 million RMB in Jiangyuan Technology, which is currently in its early stages, with projected revenues of 30 million RMB for 2024 and a net loss of 146.63 million RMB [10][11]. - The investment will result in the company holding approximately 15.42% of Jiangyuan Technology's equity, with no plans to seek control over the company [12][11]. - The investment's success is uncertain due to Jiangyuan Technology's current lack of profitability and potential market competition risks [10][11][12]. Group 4: Financial Performance - The company reported a net loss of 64.06 million RMB for 2024 and a net loss of 32.84 million RMB for the first three quarters of 2025 [16][5]. - The company operates in the software and information technology services industry, with a rolling P/E ratio of 70.17 as of November 25, 2025, and a closing price of 70.58 RMB per share [18].