沙河股份营收仅2086万转亏或披星戴帽 拟收购晶华电子70%股权谋划转型突围

Core Viewpoint - Shahe Co., Ltd. is facing significant financial challenges and is seeking to transform through the acquisition of a 70% stake in Shenzhen Jinghua Display Electronics Co., Ltd. to avoid being delisted due to poor performance [1][2][8] Group 1: Acquisition Details - The acquisition involves cash payment for 70% of Jinghua Electronics, which specializes in LCDs, LCMs, touch screens, and related products [1][3] - The transaction is classified as a major asset restructuring under the regulations, and it is an associated transaction due to common control by the same parent company [2] - The acquisition is still in the negotiation phase, with no formal agreement signed yet, and the valuation of the assets is yet to be determined [2][4] Group 2: Financial Performance - In the first three quarters of 2025, Shahe Co., Ltd. reported revenue of 20.86 million, a 93.58% decrease year-on-year, and a net loss of 32.22 million, marking a shift from profit to loss [1][8] - The company had previously reported a revenue of 1.389 billion in 2023, with a net profit of 522 million, both achieving historical highs [6] - The decline in performance is attributed to reduced revenue from real estate projects, with expectations that the company may not meet the minimum requirements to avoid being marked as *ST [8] Group 3: Company Background and Management Changes - Shahe Co., Ltd. primarily engages in real estate development and management, with a focus on land acquisition and construction [5] - The company has a low debt ratio of 29.14% and significant cash reserves of 510 million, with no short-term or long-term borrowings [8] - Recent management changes include the resignation of the chairman, with the general manager taking over interim responsibilities, which may facilitate the acquisition process due to his experience in related industries [8][9]