两年两次！重大资产重组，又终止

Core Viewpoint - Fuda Alloy announced the termination of a major asset restructuring plan to acquire a 52.61% stake in Zhejiang Guangda Electronic Technology Co., citing market conditions and changes in the target company as reasons for the decision [2][6][10]. Group 1: Termination of Restructuring - The company held a board meeting on December 15 to approve the termination of the asset restructuring proposal [2]. - This marks the second time in over two years that Fuda Alloy has announced the termination of a major asset restructuring, having previously halted the acquisition of Sanmenxia Aluminum Industry for 15.56 billion yuan in November 2023 [5][10]. - Fuda Alloy committed to not planning any major asset restructuring for at least one month following the announcement [9]. Group 2: Background and Challenges - The restructuring aimed to acquire a controlling stake in Guangda Electronic to enhance its conductive silver paste business and strengthen its supply chain in electrical metal materials [6]. - The restructuring faced significant hurdles, including a lawsuit against Guangda Electronic for patent infringement, which complicated the transaction [8]. - Despite the termination, Fuda Alloy stated that its operational and financial conditions remain stable and that the decision will not adversely affect its business or shareholder interests [8][10]. Group 3: Future Plans and Financial Performance - Fuda Alloy plans to continue focusing on its strategic goals, enhancing its business operations, and driving technological innovation [8]. - The company reported a strong financial performance for Q3 2025, with a net profit increase of over 508% and a revenue of 3.497 billion yuan, reflecting a year-on-year growth of 30.03% [10]. - As of December 15, Fuda Alloy's stock price was 19.41 yuan per share, with a market capitalization of 2.6 billion yuan [11].