重大资产重组终止，780亿芯片大牛股突然宣布

Core Viewpoint - Chip Original Co., Ltd. announced the termination of its acquisition of 97.0070% equity in Chip Lai Zhi Rong Semiconductor Technology (Shanghai) Co., Ltd. and related fundraising activities due to discrepancies between the core demands of the target company's management and market conditions, policy requirements, and the interests of the company and its shareholders [1][3]. Group 1: Transaction Details - The acquisition was initiated on August 28, 2025, with a suspension of trading on August 29, 2025, and resumption on September 12, 2025 [3]. - The transaction aimed to enhance the company's core processor IP and CPU IP capabilities, as well as improve the design flexibility and innovation of AI ASICs [3]. - Following the termination, the company committed to not planning any major asset restructuring for at least one month and will hold an investor briefing on December 18, 2025 [3]. Group 2: Company Profile - Chip Lai Zhi Rong, established in 2018, is one of the first domestic RISC-V CPU IP providers in China, with over 100 employees and a leading position in CPU IP business revenue among Chinese RISC-V IP companies in 2024 [4]. - Chip Original Co., Ltd. provides comprehensive chip customization services and semiconductor IP licensing, with a portfolio that includes six types of processor IP and over 1,600 mixed-signal and RF IPs [4]. Group 3: Financial Performance - In the first three quarters of the year, Chip Original Co., Ltd. achieved revenue of 2.255 billion yuan, a year-on-year increase of 36.64%, while the net profit attributable to shareholders was a loss of 347 million yuan, reducing the loss by 49.16 million yuan compared to the same period last year [4]. - The company signed new orders worth 1.593 billion yuan in the third quarter of 2025, a significant year-on-year increase of 145.80%, with AI computing-related orders accounting for approximately 65% [4]. - The total new orders signed in the first three quarters of 2025 reached 3.249 billion yuan, surpassing the total new orders for the entire year of 2024 [4]. Group 4: Market Position - According to industry research firm IPnest, Chip Original Co., Ltd. ranks first in China's semiconductor IP licensing market and eighth globally in 2024, with its intellectual property licensing revenue ranking sixth worldwide [5]. - The company's stock has performed exceptionally well this year, with a year-to-date increase of over 184%, bringing its total market capitalization to 78.37 billion yuan as of December 12 [5].