Mei Ri Jing Ji Xin Wen·2026-02-03 06:07Core Viewpoint - Yitong Century's acquisition of Shenzhen Beitai Health Measurement and Analysis Technology Co., Ltd. for 1 billion yuan has ended in bankruptcy, resulting in the company receiving only 830,000 yuan from the bankruptcy distribution, highlighting the significant financial loss from the investment [1][2][3][4]. Group 1: Bankruptcy Proceedings - The bankruptcy proceedings for Beitai Health have been officially concluded, with the Shenzhen Intermediate People's Court issuing a civil ruling to terminate the bankruptcy process [3]. - Beitai Health's bankruptcy application was accepted on November 13, 2023, and it was declared bankrupt on January 26, 2026 [3]. - Yitong Century, as a creditor, is entitled to approximately 830,000 yuan from the bankruptcy distribution, which is expected to have a corresponding impact on the company's profits [3][4]. Group 2: Financial Impact and Historical Context - The acquisition price of 1 billion yuan for Beitai Health was significantly higher than its net assets of 173 million yuan at the time, resulting in over 800 million yuan in goodwill that later required substantial impairment [4]. - Yitong Century has already accounted for the impairment losses related to Beitai Health's overdue loans in previous years, indicating that the bankruptcy will not adversely affect the company's financial status further [4]. Group 3: Ongoing Legal Issues - Despite the conclusion of the bankruptcy proceedings, Yitong Century is still dealing with legal disputes related to the acquisition, including a lawsuit against Beitai Health's original shareholders for contract fraud [5]. - The case was sent back for retrial by the Guangdong High People's Court due to unclear facts in the initial judgment, and the outcome remains uncertain [5][6]. - Yitong Century's half-year report for 2025 indicated that it is pursuing the recovery of 770 million yuan from the original representative of Beitai Health, but there are concerns about the collectability of these funds due to the representative's financial difficulties [6].