券商中国·2025-12-09 14:42Core Viewpoint - The major asset restructuring plans of Haiguang Information and Zhongke Shuguang have been abruptly terminated due to significant changes in market conditions and the complexity of the transaction, which was expected by the market [1][3]. Group 1: Termination of Major Asset Restructuring - Haiguang Information announced the termination of its plan to merge with Zhongke Shuguang through a share exchange and fundraising, stating that the termination will not adversely affect its operations or financial status [1][4]. - Similarly, SIRUI announced the termination of its plan to acquire shares of Ningbo Aola Semiconductor, indicating that the conditions for the restructuring were not fully mature [7][10]. Group 2: Financial Impact and Future Plans - Haiguang Information confirmed that the termination of the restructuring will not harm the interests of the company or its minority shareholders, and it will continue to focus on high-end chip products and collaborations within the industry [4][5]. - Both Haiguang Information and Zhongke Shuguang have announced cash dividend plans for 2025, with Haiguang proposing a dividend of 0.9 yuan per 10 shares, totaling 2.09 billion yuan, and Zhongke proposing 0.7 yuan per 10 shares, totaling 1.02 billion yuan [5]. Group 3: Market Reactions and Future Opportunities - Market analysts noted a 20% arbitrage discount in the merger proposal between Zhongke Shuguang and Haiguang, reflecting skepticism about the merger's success, and they believe the termination will not significantly impact the stock prices of either company [3]. - SIRUI emphasized that the termination of the acquisition will not negatively impact its business operations or financial status, and it will seek future collaboration opportunities with Aola Semiconductor [10][12].