业绩落地股价上天！芯原股份并购“换挡”，开讲新故事

Core Viewpoint - The company has decided to terminate the acquisition of a 97.007% stake in Chip Lai Technology due to discrepancies between the management's core demands and market conditions, as well as the interests of the company and its shareholders [1] Group 1: Termination of Acquisition - The company received a notification from Chip Lai Zhirong Semiconductor Technology (Shanghai) Co., Ltd. and agreed to terminate the issuance of shares and cash payment for the acquisition of a 97.007% stake in Chip Lai Technology [1] - Initially, the company planned to acquire the stake from 31 parties, which would have resulted in full ownership of Chip Lai Technology [1] - The decision to terminate the acquisition was made to protect the interests of the company and all shareholders after thorough research [1] Group 2: New Investment Strategy - Concurrently with the termination of the major asset restructuring, the company announced plans to invest in Tian Sui Xin Yuan Technology (Shanghai) Co., Ltd. and acquire control of Zhu Dian Semiconductor (Shanghai) Co., Ltd. through this entity [1] - Following the investment, Tian Sui Xin Yuan's registered capital will change to 950 million yuan, with the company holding a 40% stake and becoming the largest single shareholder [2] - The company will control the majority of the board seats in Tian Sui Xin Yuan, thereby gaining control over the entity [2] Group 3: Financial Performance - The company's stock price has increased by over 180% this year, with a current market capitalization of 78.4 billion yuan [2] - For the first three quarters of 2025, the company reported revenues of 2.255 billion yuan but incurred a loss of 347 million yuan [2] - The company recorded a loss of 296 million yuan in 2023 and is projected to exceed 600 million yuan in losses for 2024 [2]