Core Viewpoint - Yiyi Co., Ltd. has terminated its plan to acquire 100% equity of Hangzhou Gaoye Family, a pet food brand, after four months of negotiations due to changes in the target company's operating conditions in 2025 [2][3] Group 1: Acquisition Termination - The decision to terminate the acquisition was made during the fourth board meeting held on February 10, 2026, where the company approved the termination of the asset purchase and related fundraising [2] - The reason for the termination was attributed to changes in the target company's 2025 operating conditions compared to initial expectations, particularly adjustments in sales strategies during the "Double Eleven" shopping festival [3] Group 2: Business Performance - Yiyi Co., Ltd.'s main business focuses on the research, production, and sales of disposable hygiene products, with over 90% of revenue coming from these products, including pet hygiene items [3] - Hangzhou Gaoye Family reported a revenue of 302 million yuan in 2023, with a net profit of 3.08 million yuan, resulting in a net profit margin of only 1%. In 2024, revenue increased to 460 million yuan, with a net profit of 18.30 million yuan and a net profit margin of 4% [6] Group 3: Market Dynamics - The company has seen significant growth in online sales, with "Gaoye Family" and "Xu Cuihua" brands achieving over 120% year-on-year growth during the "Double Eleven" festival, with specific platform growth rates of 120% on Tmall, 60% on JD, 50% on Pinduoduo, and 40% on Douyin [4][6] - Despite high sales volumes and premium pricing, the company faces challenges with profit margins due to competitive pricing pressures and the introduction of new sales models that may increase costs [6][7]
001206 跨界并购终止！