Core Viewpoint - The article discusses the potential change in control of Delixi Co., Ltd. and highlights the company's ongoing financial struggles, including significant losses over recent years and challenges in its business transformation efforts [2][3][4]. Company Overview - Delixi Co., Ltd. was founded by Shi Weidong and is headquartered in Fengyang, Anhui. It specializes in the research and manufacturing of various glass products and has become a leading manufacturer of glassware in China over the past two decades [3]. Financial Performance - The company has faced continuous financial pressure, reporting losses of 110 million yuan, 86 million yuan, and 173 million yuan for the years 2022, 2023, and 2024, respectively. In the first half of 2025, the net profit attributable to shareholders was a loss of 45 million yuan, representing a 491% decline compared to the same period last year [3][4]. Business Transformation Efforts - Delixi attempted to break through its development bottleneck through business transformation, particularly by entering the photovoltaic glass market. In 2020, it established a wholly-owned subsidiary, Delixi Energy, and signed a five-year procurement agreement with Longi Green Energy for at least 250 million square meters of photovoltaic glass from 2022 to 2026, with a total contract value of approximately 5.531 billion yuan [3][4]. Challenges in New Ventures - The company's photovoltaic glass project faced significant challenges, including being idle during the industry's downturn. The company expressed uncertainty about whether the industry could recover from its current low point and whether it could reverse its losses [4]. Investment Adjustments - Delixi has also made adjustments to its external investment projects, terminating two projects that had not progressed to substantial construction after nearly five years. Additionally, it announced plans to sell its 100% stake in Fengyang Derui Mining Co., Ltd. for 135 million yuan, which is expected to result in a loss of approximately 6.5 million yuan [4]. Stock Market Reaction - Prior to the suspension of trading, Delixi's stock price closed at 8.32 yuan per share on September 30, with a 6.12% increase on that day, bringing the company's total market capitalization to 3.3 billion yuan [5].