Core Viewpoint - Sunshine Nuohuo's acquisition plan for Jiangsu Langyan Life Technology Co., Ltd. has been terminated again due to changes in the current market environment, which the company claims is a prudent decision to protect the interests of the company and its shareholders [3][4]. Group 1: Acquisition Attempts - This marks the second failed acquisition attempt by Sunshine Nuohuo for Langyan Life, indicating potential issues with strategic assessment and risk management [4]. - The first acquisition attempt began in 2022, aiming to expand Sunshine Nuohuo's business into downstream sectors of the pharmaceutical industry [6]. - The acquisition plan was initially announced in April 2025, with a proposed price of 1.2 billion yuan, which was a 25.51% reduction from the previous offer of 1.611 billion yuan [11][12]. Group 2: Financial Performance - Langyan Life's revenue for the first half of 2025 was only 231 million yuan, reflecting challenges in meeting performance commitments [15]. - Sunshine Nuohuo's revenue for 2024 was reported at 1.078 billion yuan, with a year-on-year growth of 15.7%, but net profit showed a decline for the first time [18]. - The company expects a revenue range of 1.192 billion to 1.371 billion yuan for 2025, indicating a potential growth of 10.57% to 27.15% compared to the previous year [20]. Group 3: Market and Regulatory Environment - The termination of the acquisition reflects increased scrutiny from regulators regarding related party transactions, particularly concerning pricing fairness and asset quality [14]. - The CRO industry is highly dependent on research stability and scale effects, necessitating rigorous strategic matching analysis in mergers and acquisitions [4][16]. - Sunshine Nuohuo's strategic focus remains on innovation and collaboration in drug development, despite the setbacks in acquisition attempts [21][22].