Core Viewpoint - The company intends to acquire a 99.8555% stake in Hengyang Data for a total transaction price of 1.148 billion yuan, enhancing its strategic position in the data communication and intelligent computing sectors [1] Group 1: Acquisition Details - The acquisition involves purchasing shares from multiple shareholders, including Haina Tianqin, Zhongbowen, Frankqi, Hengyongcheng, Hengyongxin, and 44 other shareholders [1] - Hengyang Data specializes in intelligent computing and data processing products, providing solutions for internet/cloud service providers, telecom operators, and information security industries [1] Group 2: Strategic Implications - The transaction will allow the company to gain control over Hengyang Data, facilitating an expansion in its strategic layout within the data communication and intelligent computing fields [1] - The acquisition aims to leverage synergies across related industry chains, transitioning from "data transmission" to "intelligent data transmission and processing" [1] - This move is expected to broaden the company's business scope and introduce new profit growth points, enhancing its profitability and sustainable development capabilities [1]

Group 1 - The core point of the article is that Zhishang Technology (301486.SZ) plans to acquire a 99.8555% stake in Hengyang Data from its shareholders for a total transaction price of 1.148 billion yuan [1] - Hengyang Data specializes in the research, sales, and service of intelligent computing and data processing products and solutions, positioning itself as a leading supplier of AI computing centers, cloud computing data centers, and edge computing infrastructure in China [1] - The acquisition will allow the company to gain control over Hengyang Data, expanding its strategic layout in the data communication and intelligent computing sectors, and facilitating a transition from "data transmission" to "intelligent data transmission and processing" [1] Group 2 - This transaction is expected to broaden the company's business scope and introduce new profit growth points, enhancing its profitability and sustainable development capabilities [1] - The move is anticipated to improve the company's market competitiveness by leveraging synergies across related industry chains [1]

Group 1 - The company plans to acquire 99.8555% of Shenzhen Hengyang Data Co., Ltd. through a combination of issuing shares and cash payment [1] - The transaction aligns with the regulations outlined in the "Continuous Supervision Measures for GEM Listed Companies (Trial)" and the "Review Rules for Major Asset Restructuring of Shenzhen Stock Exchange" [1][3] - The target company operates in the field of intelligent computing and data processing, providing solutions for internet/cloud service providers and telecom operators [2] Group 2 - The acquisition will enhance the company's strategic layout in data communication and intelligent computing, transitioning from "data transmission" to "intelligent data transmission and processing" [2] - The target industry is supported by national industrial policies and does not fall under the categories that are generally not supported for listing [3] - The share issuance price for the acquisition is set at 43.48 yuan per share, which is compliant with the requirement of being no less than 80% of the average stock price over the previous 120 trading days [4]

Group 1 - The company Shenzhen Zhishang Technology Co., Ltd. plans to acquire 99.8555% equity of Shenzhen Hengyang Data Co., Ltd. through a combination of issuing shares and cash payment [1][2] - The acquisition aims to enhance the company's strategic layout in data communication and intelligent computing, leveraging synergies between the two companies to transition from "data transmission" to "data intelligent transmission and processing" [2][3] - The target company, Hengyang Data, specializes in intelligent computing and data processing solutions, serving clients in internet/cloud computing, telecommunications, and information security sectors [2] Group 2 - The transaction complies with the relevant regulations of the Shenzhen Stock Exchange regarding major asset restructuring and continuous supervision [1][3] - The share issuance price for the acquisition is set at no less than 80% of the market reference price, which is based on the average stock price over the previous 120 trading days [3] - The transaction does not constitute a restructuring listing and is therefore not subject to certain specific rules under the restructuring review regulations [3]

Group 1: Company Overview - The company focuses on precision electronic components, primarily in consumer electronics, optical communication products, and automation equipment [2] - Major products include game console components, optical connectors, electronic connectors, and automation equipment, serving various sectors such as consumer electronics and industrial automation [2] Group 2: Financial Performance - In 2024, the company's total revenue was ¥974,165,757.63, representing a 94.07% increase from the previous year [4] - The net profit attributable to shareholders, excluding non-recurring gains and losses, was ¥64,948,076.53, a slight increase of 0.21% year-on-year [4] - In Q1 2025, revenue reached ¥266,132,095.16, up 52.54% compared to the same period last year [4] - The net profit for Q1 2025 was ¥22,716,190.03, reflecting a significant growth of 74.61% year-on-year [4] Group 3: Impact of Tariff Policies - The company reports that the impact of the U.S. tariff increase is limited, as some game console components are delivered to domestic bonded zones and not as complete units [5] - The company has established a production base in Vietnam for optical communication products to mitigate international trade risks [5] Group 4: Optical Communication Products - The main optical communication products include a wide range of optical fiber connectors, such as MTP/MPO fiber jumpers and high-density fiber jumpers [6] - The company has two production bases in Vietnam for optical fiber connectors, with one currently at full capacity and the other ramping up production [7] Group 5: Acquisition and Strategic Development - The company plans to acquire Hengyang Data, which specializes in intelligent computing and data processing solutions, enhancing its capabilities in data communication and intelligent processing [10][11] - The acquisition aims to integrate resources across strategic development, business layout, and financial management, thereby increasing market competitiveness and profitability [11] Group 6: Share Transfer and Future Products - The company has received the first installment of the share transfer payment for the 53% stake in Fokexima and completed the necessary registration changes [13] - The release date for the next-generation game console is pending official announcements from the brand, while current production of game console components is reported to be normal [14]