11个交易日涨超45%，牛股突然宣布终止重大资产重组

Core Viewpoint - Nanjing Shanglv has decided to terminate the acquisition of 100% equity in Nanjing Huangpu Hotel Co., Ltd. due to changes in market conditions and related circumstances after a year and a half of planning and waiting [2][5]. Group 1: Acquisition Termination - The company has applied to the Shanghai Stock Exchange to withdraw the relevant application documents for the transaction, which has been accepted [5]. - Prior to the termination announcement, Nanjing Shanglv's stock price increased by over 45% in 11 trading days, reaching a market value of 4.535 billion yuan [5]. - On the day of the termination announcement, the stock price initially hit the daily limit but ultimately closed down by 0.14% at 14.60 yuan per share [5]. Group 2: Restructuring Process - The restructuring process began in May 2024, with plans to acquire 100% equity of Huangpu Hotel and 49% equity of Nanshang Operation [9]. - The restructuring faced multiple challenges, including adjustments to the plan and temporary suspensions of trading [9][10]. - The final decision to terminate the transaction was made during the board meeting on December 19, 2025, citing changes in market conditions and the need to protect the interests of the company and investors [10]. Group 3: Business Challenges - Nanjing Shanglv emphasized that the termination of the restructuring will not significantly impact its existing business operations or financial status [12]. - However, the company's financial data indicates challenges, with a 9.31% year-on-year decline in revenue to 776 million yuan in 2024, despite a 33.69% increase in net profit due to non-recurring gains [12]. - In the first three quarters of 2025, revenue continued to decline by 8.07% to 553 million yuan, and net profit fell by 51.46% [12].