重大资产重组 终止！明日复牌

Core Viewpoint - The company Zhiyang Innovation has decided to terminate its major asset restructuring plan to acquire the controlling stake in Shenzhen Lingming Photon Technology Co., Ltd. due to failure to reach consensus on key transaction terms amid changing market conditions [2][6]. Group 1: Company Announcement - Zhiyang Innovation announced the termination of the restructuring plan and will resume trading on February 26, 2026 [2][3]. - The company had planned to acquire Lingming Photon through multiple methods, including issuing ordinary shares, convertible bonds, and cash payments, while also raising supporting funds to enhance its business layout [5]. Group 2: Reasons for Termination - The termination was primarily due to the inability to reach agreement on core transaction terms after multiple rounds of discussions with the transaction parties [6]. - The restructuring was still in the planning stage, and no formal agreements had been signed, meaning that both parties would not bear any breach of contract liability [6]. Group 3: Future Plans - Despite terminating the acquisition, Zhiyang Innovation remains optimistic about Lingming Photon’s technological value and development prospects and plans to make a minority investment in the company [7]. - The company has committed not to plan any major asset restructuring within one month from the announcement date [7]. Group 4: Company Financials - Zhiyang Innovation reported a revenue of 753 million yuan for the first three quarters of 2025, representing a year-on-year increase of 11.38% [7]. - The net profit attributable to shareholders was 45.94 million yuan, up 24.97% year-on-year, with a basic earnings per share of 0.20 yuan [7].