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Core Viewpoint - Meike Home is facing significant operational challenges, reflected in its continuous net losses and shrinking revenue, prompting the company to pursue a cross-industry acquisition of Shenzhen Wande Technology Co., Ltd. [1] Financial Performance - Meike Home has experienced a decline in net profit since 2020, with net losses of approximately -2.89 billion, -4.63 billion, and -8.64 billion for the years 2022 to 2024 respectively [6] - For the first three quarters of this year, Meike Home reported a net loss of about -2.2 billion, showing a reduction in losses compared to previous periods [6] - The company's revenue peaked in 2019 at over 5.5 billion, but has since declined significantly [6] Acquisition Details - Meike Home plans to acquire control of Wande Technology, which specializes in high-speed copper cables for AI computing and data centers, with a valuation of 360 million as of last year [3][5] - The acquisition will involve issuing shares and cash payments, with the main transaction partner being Shenzhen Wande Yasheng Technology [5] Shareholding and Pledge Status - As of the end of the third quarter, Meike Group, the controlling shareholder of Meike Home, has 100% of its 4.88 billion shares pledged, indicating a high risk of margin calls if the stock price declines significantly [7] - Despite the pledge status, Meike Group claims to have good credit and plans to manage the risks associated with the pledged shares through various financing channels [7] Market Reaction - Meike Home's stock experienced a significant increase of 47.12% from October 31 to December 15, reaching a peak of 3.21 per share, but subsequently faced declines, including a drop of 4.26% on December 18 [7] Employee Issues - The company has been involved in a controversy regarding employee salary arrears, with ongoing internal investigations into the matter [8]