MYSE(SH:601615) Sou Hu Cai Jing·2026-01-26 10:47Core Viewpoint - Mingyang Smart's stock price has shown significant volatility, with a 10.02% increase on January 26, 2026, marking the fourth trading day of consecutive gains within a week, driven by multiple factors including asset restructuring and market sentiment [1][4]. Group 1: Stock Performance - The stock price of Mingyang Smart has increased by approximately 65% since the beginning of 2026, with a single-day increase of 2.17 CNY on January 26, 2026 [1][4]. - The total amount of buy orders on the day of the price surge reached 3.2 billion CNY, indicating heightened market interest [1]. Group 2: Corporate Actions - On January 23, 2026, the company announced plans to acquire 100% of Dehua Chip through a combination of private placement and cash payment, while also optimizing internal governance by revising 22 management policies and implementing a stock option incentive plan for 259 core employees [3]. - The company reported a debt-to-asset ratio of 69.98% as of the third quarter of 2025, with a negative operating cash flow of 4.926 billion CNY, raising concerns about financial stability [3]. Group 3: Market Sentiment - Media coverage highlights the ongoing trend of cross-industry acquisitions, with the acquisition of Dehua Chip aimed at enhancing semiconductor capabilities and aligning with current market trends in "new energy + chips + space photovoltaics" [4]. - Regulatory scrutiny has increased, with the Shanghai Stock Exchange issuing an inquiry regarding the acquisition's rationale and the pricing, which is set at 14.46 CNY per share, representing a 26.5% discount compared to the closing price before the suspension [4]. - Investor sentiment is polarized, with bullish investors optimistic about the company's transition to an integrated energy giant, while bearish investors express concerns over high debt levels and potential risks associated with the acquisition [5].