登录新浪财经APP 搜索【信披】查看更多考评等级 11月12日，因自然人王功伟的一纸诉状，正在进行并购重组的湘财股份与大智慧股价双双跳水，市值合计蒸发51.53亿元。 据上交所网站消息，11月11日晚，大智慧披露涉诉公告称，原告王功伟于10月15日提起诉讼，主张撤销公司2025年第二次临时股东大会决议，目前案件已 被上海市浦东新区人民法院立案受理，尚未开庭审理。 公告内容显示，大智慧目前正在推进由湘财股份通过以换股方式吸收合并大智慧并发行A股股票募集配套资金，公司于10月13日召开2025年第二次临时股 东大会，审议通过了本次重组相关议案。 受相关消息影响，11月12日开盘后大智慧股价迅速跳水，盘中一度跌停，截至收盘，大智慧打开跌停板，收跌8.10%，单日市值蒸发约22.09亿元。当日， 湘财股份一度也触及跌停，收跌8.12%，市值蒸发约29.43亿元。 粤开证券和国枫律所表示，在本次吸收合并中，大智慧不存在通过本次交易取得湘财股份股票、现金等任何对价的情况，不涉及大智慧以湘财股份作为标 的资产"购买或出售资产"的情形，大智慧不需要如原告起诉状中所述根据《上市规则》相关规定，按照"购买或出售资产"的规则要求对 ...

Core Viewpoint - Xiangcai Co. plans to absorb and merge with Dazhihui through a share swap, with the share swap ratio set at 1:1.27, leading to the issuance of 2.282 billion shares of Xiangcai Co. [5][7] Group 1: Merger Details - The share swap price for Xiangcai Co. is set at 7.51 CNY per share, while for Dazhihui it is 9.53 CNY per share [5][7] - After the merger, Dazhihui will be delisted and its controlling shareholder Zhang Changhong will hold 17.32% of Xiangcai Co. [5][8] - Xiangcai Co.'s total share capital will increase to 5.141 billion shares post-merger [7] Group 2: Financial Aspects - Xiangcai Co. plans to raise up to 8 billion CNY from no more than 35 specific investors, with 2.5 billion CNY allocated for financial model and digitalization projects [8] - The remaining funds will be used for various projects, including big data engineering and international financial technology [8] Group 3: Historical Context - Xiangcai Co. was originally established in 1994 and transformed into a securities service company after acquiring Xiangcai Securities in 2020 [9] - Dazhihui, founded in 2000, has faced challenges in recent years, including a loss of 201 million CNY in 2024 and a loss of 340,070 CNY in the first half of 2025 [10] Group 4: Strategic Implications - The merger aims to leverage the strengths of both companies, focusing on the integration of internet finance and securities services [10][11] - Xiangcai Securities emphasizes a strategy of "specialization + technology + capitalization" to survive in a competitive market [11]