Brilliance Technology (SZ:300542) 中国基金报·2025-08-12 01:44Core Viewpoint - New Morning Technology has announced the termination of its plan to acquire 96.9628% of Tianyi Enhua's shares due to a lack of agreement on key transaction terms after four months of negotiations [2][4][6]. Summary by Sections Termination of Acquisition - The company held a board meeting on August 11, 2025, where it approved the termination of the acquisition of Tianyi Enhua [3]. - The decision was made to protect the interests of the company and its investors after negotiations failed to reach consensus on core transaction terms [6]. Background of the Acquisition - In April 2023, New Morning Technology announced a major asset restructuring plan to acquire Tianyi Enhua through a combination of issuing shares and cash payments [8]. - Tianyi Enhua is recognized as a service provider in cloud computing infrastructure and has received accolades such as "Beijing Specialized and Innovative 'Little Giant' Enterprise" [8]. - The acquisition was expected to enhance New Morning Technology's capabilities in system integration services and expand its business scope in emerging technologies like blockchain and artificial intelligence [9]. Financial Performance - New Morning Technology reported a revenue of 1.349 billion yuan in 2024, a year-on-year decline of 22.22%, and a net profit loss of 81.4595 million yuan, marking its first loss since going public [11]. - The first quarter of 2025 showed a revenue of 124 million yuan, down 35.03% year-on-year, but the net loss improved to 6.2633 million yuan compared to the previous year [11].