Core Viewpoint - The acquisition of Hunan Ailing Snack Technology Co., Ltd. by Three Squirrels has been terminated due to fundamental disagreements on key terms, including equity valuation and operational control, leading to public disputes between the parties involved [1][4][5]. Group 1: Acquisition Details - The acquisition was initially announced in October 2024, with Three Squirrels planning to invest up to 200 million RMB to acquire control or related assets of Ailing Snack [1][3]. - The acquisition was seen as a strategic move for Three Squirrels to enter the bulk snack market, generating significant market interest [1][2]. - Despite initial optimism, the acquisition process faced stagnation, leading to the termination announcement in June 2025 [3]. Group 2: Disputes and Legal Actions - Ailing Snack's founder, Tang Guangliang, publicly criticized Three Squirrels for discrepancies in equity valuation and operational control, claiming that negotiations were undermined by Three Squirrels' discussions with competitors [4][5]. - Tang has indicated that legal action has been initiated against Three Squirrels, although specific details of the lawsuit have not been disclosed [6][7]. - Three Squirrels has stated that they will leave legal matters to the courts and expressed goodwill towards Ailing Snack's future development [7]. Group 3: Financial Performance - Three Squirrels reported a strong financial performance in 2024, with revenues of 10.622 billion RMB, a year-on-year increase of 49.3%, and a net profit of 408 million RMB, up 85.5% [3]. - However, in the first quarter of 2025, the company experienced a slowdown, with a revenue increase of only 2.13% and a net profit decline of 22.46% [3]. Group 4: Strategic Implications - The termination of the acquisition directly impacts Ailing Snack's plans for rapid expansion and brand enhancement, which relied on Three Squirrels' resources and expertise [5]. - Ailing Snack had ambitious plans to expand its store count from over 1,800 to 5,000 by 2025 and over 10,000 by 2026, which may now be jeopardized [2][5].

6月24日，星巴克中国表示，坚信中国市场蕴藏的巨大增长机遇。公司正在评估把握未来增长机遇的 最佳方式。将继续专注于实现中国业务的重振增长，保持积极正向的发展趋势。 昨日有消息称，高瓴资本参与了星巴克中国区的反向管理层路演，表达了对收购星巴克中国业务的兴 趣。 ...

2025母基金研究中心专项榜单评选正式开启 2025 40U40优秀青年投资人榜单揭晓 2024中国母基金全景报告 6月23日，据知情人士透露， 高瓴资本近日参与了星巴克中国区的反向管理层路演，表达了对 收购星巴克中国业务的兴趣 。此次路演还吸引了凯雷投资、信宸资本等多家投资机构参与 。 据悉，目前交易结构尚未敲定。 星巴克中国业务估值约为50至60亿美元 ，由高盛担任独家财 务顾问。 该交易预计将持续到2026年。 星巴克2024年在中国实现净收入30亿美元，拥有 7685家门店，正面临瑞幸咖啡、蜜雪冰城等本土品牌的激烈竞争。 来 源 / 财 联 社 记 者 / 李哲 ...

据知情人士透露，高瓴资本近日参与了星巴克中国区的反向管理层路演，表达了对收购星巴克中国业 务的兴趣。此次路演还吸引了凯雷投资、信宸资本等多家投资机构参与。据了解，目前交易结构尚未 敲定。星巴克中国业务估值约为50至60亿美元，由高盛担任独家财务顾问。该交易预计将持续到 2026年。 ...

星巴克2024年在中国实现净收入30亿美元，拥有7685家门店，正面临瑞幸咖啡、蜜雪冰城等本 土品牌的激烈竞争。 据知情人士透露， 高瓴资本近日参与了星巴克中国区的反向管理层路演，表达了对收购星巴 克中国业务的兴趣。 此次路演还吸引了凯雷投资、信宸资本等多家投资机构参与。据悉，目 前交易结构尚未敲定。星巴克中国业务估值约为50至60亿美元，由高盛担任独家财务顾问。该 交易预计将持续到2026年。 ...

Group 1 - Hillhouse Capital has expressed interest in acquiring Starbucks' China business, participating in a reverse management roadshow [1] - Other investment firms such as Carlyle Group and Xincheng Capital also participated in the roadshow [1] - The estimated valuation of Starbucks' China business is between $5 billion to $6 billion, with Goldman Sachs serving as the exclusive financial advisor for the transaction [1] Group 2 - Starbucks is projected to achieve a net revenue of $3 billion in China in 2024, operating 7,685 stores [1] - The company faces intense competition from local brands such as Luckin Coffee and Mixue Ice Cream [1] - The transaction is expected to continue until 2026, with the deal structure yet to be finalized [1]

Core Viewpoint - Kangda New Materials plans to acquire at least 51% of Zhongke Huawai's equity in a cash transaction, aiming to gain control over the company and expand into the semiconductor integrated circuit sector [2][5]. Group 1: Acquisition Details - The acquisition agreement is a preliminary intention agreement, and the final valuation of Zhongke Huawai's 100% equity is yet to be determined based on an assessment report [5]. - This acquisition is not classified as a related party transaction and is not expected to constitute a major asset restructuring [5]. - Kangda New Materials has been active in acquisitions, having announced at least five since 2021, but these have not translated into improved financial performance [5][10]. Group 2: Financial Performance - Kangda New Materials has experienced a significant decline in net profit, with a drop of 89% in 2021, followed by a loss of 2.46 billion yuan in 2024 [11][12]. - The company’s revenue structure shows that its adhesive business is the largest contributor, expected to generate 2.252 billion yuan in 2024, accounting for over 70% of total revenue [8][9]. - Despite the acquisitions, the company reported a net loss of 3.08 billion yuan in 2024, indicating ongoing financial challenges [12]. Group 3: Zhongke Huawai Overview - Zhongke Huawai specializes in high-reliability integrated circuit products and has established a strong market presence in the MCU sector for special equipment [7]. - The company has been recognized as a national-level "specialized and innovative" small giant enterprise and holds various qualifications in its field [7].

日本制铁以每股55美元的价格收购了美国钢铁公司的全部股权。美国钢铁公司同一天在纽约证券交易所 （NYSE）退市。美国钢铁公司将并入日本制铁子公司、位于纽约州的当地法人旗下。除了把总部保留 在美国东部宾夕法尼亚州匹兹堡之外，还将保留公司名称。 日本制铁同一天还宣布，负责此次收购计划的副会长兼副社长森高弘将兼任美国钢铁公司的会长。还公 布了将向美国政府发行的"黄金股"的详细内容。黄金股在重大经营事项上拥有否决权。 日本制铁以每股55美元的价格收购了美国钢铁公司的全部股权。除了收购所需的所有手续之 外，还完成了约141亿美元收购费用的支付，美国钢铁公司已成为日本制铁的全资子公司…… 日本制铁对美国钢铁公司（US Steel）的收购于6月18日正式完成。除了收购所需的所有手续之外，还 完成了约141亿美元收购费用的支付，美国钢铁公司已成为日本制铁的全资子公司。由于本次收购被政 治问题化，从宣布收购起花费了1年半时间，但收购大戏最终以日本制铁一贯要求的变为100%子公司而 结束。 版权声明：日本经济新闻社版权所有，未经授权不得转载或部分复制，违者必究。 日经中文网 https://cn.nikkei.com 此外，还与 ...

新日铁首席执行官：与美国政府就我们收购美国钢铁(X.N)的协议确保了两个关键要素：管理自主权和 盈利能力。美国钢铁的振兴计划和新投资计划基本已完成。对协议感到满意，将迅速开始实施振兴和发 展措施。 ...

Group 1: Company News - Leonard A. Lauder, the honorary chairman of Estée Lauder, passed away at the age of 92, having played a crucial role in transforming the company from a single brand to a multi-brand cosmetics group [1] - The company is expected to experience limited direct impact on stock prices in the short term, with investors focusing more on current performance and business progress [1] Group 2: Industry Impact - The price of lemons, particularly Anju lemons, has surged to 7.5 to 10 yuan per jin, nearly tripling from the previous price of 3 to 4 yuan per jin, due to reduced production caused by drought conditions [2] - Rising raw material costs may lead tea beverage brands, especially smaller ones, to adjust their supply chain strategies and product pricing capabilities [2] - The exit of Huan Niu Cake from the market due to cost increases, competition, and management issues highlights the importance of cost control and operational management in the baking industry [3] - The termination of the acquisition of Hunan Ailing Food Technology by Three Squirrels indicates disagreements on core terms, potentially affecting the pace of expansion in the snack food sector [4]