Zhong Guo Ji Jin Bao·2025-12-05 13:55Core Viewpoint - Haitai Development has terminated its acquisition of Zhixueyun due to a lack of agreement on key transaction terms, which was initially expected to constitute a significant asset restructuring [1][2]. Group 1: Acquisition Details - The acquisition process lasted for six months, starting from June 5, when the board approved the cash acquisition of Zhixueyun's controlling stake [2]. - Investors had inquired about the progress of the transaction during the Q3 earnings call on November 19, but received no positive responses from management [3]. Group 2: Financial Impact - As of December 5, Haitai Development's stock price was 4.77 yuan per share, with a total market capitalization of 3.082 billion yuan [1]. - The termination of the acquisition is not expected to adversely affect the company's normal business operations or harm the interests of shareholders, particularly minority shareholders [6]. Group 3: Company Operations - Haitai Development focuses on industrial real estate development and has gradually formed an innovative operational model combining "investment + incubation" [9]. - The company plans to conduct a self-examination regarding the transaction and will not plan any significant asset restructuring for at least one month following the termination announcement [4]. Group 4: Financial Performance - Haitai Development's net profit attributable to shareholders for 2022, 2023, and the first three quarters of 2025 were 10.1652 million, 12.6903 million, and 2.4220 million yuan, respectively [10]. - The company reported a decrease in revenue of 26.83% year-on-year for 2024, with total revenue of approximately 337.63 million yuan [11].