Smartgiant(SH:688115) Sou Hu Cai Jing·2026-01-27 00:27Group 1 - The acquisition deal planned by the company took 16 months to negotiate but was ultimately terminated after multiple adjustments to the proposal [1] - The initial proposal in January 2025 indicated a purchase price of 1.491 billion yuan for 71% of Keke Electronics, with 591 million yuan to be paid through share issuance and an additional fundraising of up to 500 million yuan [2] - The purchase price was subsequently reduced multiple times, first to 1.42 billion yuan in May 2025 and then to 1.314 billion yuan in October 2025, totaling a decrease of 180 million yuan within a year [3] Group 2 - Keke Electronics, established in July 1997, specializes in the research, production, and sales of high-reliability microcircuit modules, with a registered capital of 336.46 million yuan [6] - The company faced challenges, including a withdrawal of its IPO application in April 2024 after two rounds of inquiries from the Shenzhen Stock Exchange, leading to a decline in its performance in 2024 [7] - Financial data shows Keke Electronics' revenue from 2022 to 2024 was 272.37 million yuan, 307.56 million yuan, and 163.97 million yuan, with net profits of 162.79 million yuan, 166.98 million yuan, and 99.92 million yuan respectively [7] Group 3 - The company, located in Guangzhou, has been under dual pressure from performance decline and regulatory scrutiny, with a projected net loss of 11.5 million to 8 million yuan for 2025, representing a year-on-year decline of 152.38% to 175.30% [8] - The company received an administrative regulatory decision from the Guangdong Securities Regulatory Bureau due to issues related to undisclosed shareholding and improper use of raised funds, leading to corrective measures and warnings for senior management [8] - Following the termination of the acquisition, the company's stock price fell by 5.92% to 47.04 yuan per share, with a total market capitalization of 3.136 billion yuan as of January 26 [11]