百亿A股，终止筹划控制权变更！明日复牌

Core Viewpoint - Nandu Power (300068) announced the termination of its control change plan after a five-day trading suspension, with stock resuming trading on December 19 [1]. Group 1: Control Change Plan - On December 11, Nandu Power disclosed that its controlling shareholders were planning a control change and the sale of its lead recycling business, leading to a stock suspension starting December 12 [4]. - The company extended the suspension on December 15 due to significant uncertainties, with expectations of resuming trading within three days [4]. - Ultimately, the company decided to terminate the control change plan after discussions with potential transaction parties failed to reach a consensus on key terms [4]. Group 2: Business Performance - Nandu Power reported a significant decline in performance, with a projected revenue drop of 45.56% in 2024 and a net loss of 1.497 billion yuan [6]. - For the first three quarters of the current year, revenue decreased by 24.8%, resulting in a net loss of 220 million yuan, with a debt ratio of 79% at the end of the reporting period [6]. - The lead recycling business has been a major factor in the company's poor performance, with a reported revenue decline and increased losses due to policy and supply-demand issues [6]. - The gross margin for the lead recycling segment was -11.02%, marking it as the only loss-making segment among the company's four business areas [6]. - The company has proactively reduced production in the lead recycling sector, indicating a strategic shift to optimize its asset structure and focus on core business development [6]. Group 3: Market Reaction - Nandu Power's stock has shown a downward trend since November, but rebounded after hitting a one-month low on December 5, with a cumulative increase of 10.39% in the two trading days before the suspension [6]. - The stock closed at 18.38 yuan per share, giving the company a market capitalization of approximately 16.5 billion yuan [6].