首次重大资产重组，告吹！

Core Viewpoint - Tengjing Technology (688195) has decided to terminate its plan to acquire Shenzhen Xuntech Communication Technology Co., Ltd. due to changes in the market environment and difficulties in reaching an agreement among the parties involved [2][3]. Group 1: Acquisition Details - Initially, Tengjing Technology announced plans to acquire control of Xuntech Communication through a combination of issuing shares and cash payments, which was expected to constitute a significant asset restructuring [2]. - The acquisition was intended to strengthen Tengjing Technology's position in the optical communication sector, as Xuntech specializes in high-performance optical interconnection products [4][5]. - The updated acquisition plan aimed for a 100% stake in Xuntech Communication, along with raising supporting funds [3]. Group 2: Financial Performance - Tengjing Technology has shown stable financial performance since its listing, with revenues of 303 million, 344 million, 340 million, and 446 million yuan from 2021 to 2024, and net profits of 52 million, 58 million, 41 million, and 70 million yuan during the same period [6]. - The company attributes its revenue growth in 2024 to a focus on optical and optoelectronic core businesses, optimization of business and product structures, and improved operational efficiency [6]. - Tengjing Technology is also capitalizing on the growing demand for high-speed optical communication components driven by AI computing needs [7]. Group 3: Future Plans - Following the termination of the acquisition, it remains to be seen what new strategies Tengjing Technology will pursue in the optical communication field [8].