年内56宗重大资产重组折戟！近半业绩承压 多股原拟跨界

Core Viewpoint - The termination of major asset restructuring by companies such as Koyuan Pharmaceutical and Guokewi adds to the growing list of failed restructuring attempts in the A-share market, with 56 companies having announced the failure of their restructuring plans this year, indicating significant operational pressures within the market [1][3]. Group 1: Restructuring Terminations - Koyuan Pharmaceutical and Guokewi announced the termination of their restructuring plans on November 28, 2025, with Guokewi specifically stating the inability to reach consensus on transaction-related matters [3][4]. - The total number of companies that have terminated restructuring plans in the A-share market this year has reached 56, including notable firms like Meng Tian Home and Binhai Energy [5][6]. - Among the terminated restructuring cases, several companies were involved in cross-industry mergers, highlighting the challenges and complexities associated with such transactions [8][9]. Group 2: Financial Performance - Over 44% of the 56 companies that terminated their restructuring plans reported net losses in the first three quarters of 2025, with 25 companies experiencing significant financial difficulties [6][7]. - Notably, Huangting International reported the largest net loss of approximately -2.444 billion yuan, while Weixinno also faced substantial losses of around -1.623 billion yuan [6][7]. - The financial struggles of these companies are compounded by a general decline in revenue, with Guokewi reporting a 2.5% decrease in revenue to approximately 1.172 billion yuan and a staggering 89.42% drop in net profit [4][6].