Core Viewpoint - Hualing Cable has decided to terminate the acquisition of control over Hunan Xingxin Aerospace New Materials Co., Ltd. after nearly a year of planning due to a lack of agreement on specific terms in the negotiation process [1][6]. Group 1: Acquisition Termination - The termination of the acquisition was mutually agreed upon by both parties, and neither side will bear compensation or legal liability for the termination [2][7]. - The decision to terminate the acquisition will not adversely affect the company's production, operations, or financial status, nor will it harm the interests of shareholders, especially minority shareholders [2][7]. Group 2: Background of Xingxin Aerospace - Xingxin Aerospace, established in 2003, is a national high-tech enterprise that specializes in high-temperature resistant materials and has participated in significant aerospace projects, including the Shenzhou series spacecraft and the Chang'e lunar exploration program [2][8]. - The company reported revenues of 56.42 million yuan, 51.37 million yuan, and 68.15 million yuan for the years 2022, 2023, and 2024, respectively, with net profits of 23.63 million yuan, 22.46 million yuan, and 26.49 million yuan during the same period [3][8]. Group 3: Hualing Cable's Strategic Direction - Hualing Cable focuses on high-end fields such as aerospace, weaponry, rail transportation, new energy, and mining, producing specialized cables including aerospace cables and ultra-high-temperature cables [3][8]. - The company is also pursuing the acquisition of San Bamboo Technology, planning to acquire 70% of its shares for a total price of 183 million yuan [3][8]. - The strategic logic behind the acquisition of San Bamboo Technology is to integrate cable and connector technologies, enhancing the company's capabilities as a system integrator in the defense modernization sector [4][9].
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