Group 1 - The company plans to acquire at least 34% equity in Shanghai Kuixin Integrated Circuit Design Co., Ltd. (Kuixin Technology) for cash, aiming to control 51% of the voting rights through a voting rights entrustment [2] - The total valuation of Kuixin Technology is not to exceed 1.588 billion yuan, with the expected transaction amount not exceeding 540 million yuan [2] - Kuixin Technology has committed to achieving audited annual revenues of no less than 300 million yuan, 450 million yuan, 600 million yuan, and 750 million yuan from 2025 to 2028 [2] Group 2 - The actual controllers of the company have signed a share transfer agreement to transfer a total of 10,314,360 shares, representing 6% of the total share capital, to the controlling person of Kuixin Technology [3] - The controlling person of Kuixin Technology, Chen Wanyi, has over 23 years of experience in the semiconductor industry, having worked for several notable companies [3] Group 3 - Kuixin Technology, established in 2021, focuses on high-speed interface IP and Chiplet solutions, filling a domestic gap and gradually breaking foreign monopolies [4] - The company has developed a strategic cooperation network with international foundries like TSMC and Samsung, covering process nodes from 5nm to 55nm [4] - The main products and services of Kuixin Technology include various high-speed interface IPs and Chiplet solutions, while the company has no prior management experience in this industry, indicating potential challenges in cross-industry operational management [4]

Core Viewpoint - HeShun Petroleum (603353) announced a restructuring plan involving the acquisition of at least 34% equity in Shanghai Kuixin Integrated Circuit Design Co., Ltd. (Kuixin Technology) for cash, aiming to control 51% of the voting rights of the target company [1][2] Group 1: Acquisition Details - The total valuation of 100% equity in Kuixin Technology is not to exceed 1.588 billion yuan, with the expected final transaction amount not exceeding 540 million yuan [1] - The transaction does not constitute a major asset restructuring as defined by the regulations and will not involve the issuance of new shares or change the controlling shareholder [1] Group 2: Company Profile - Kuixin Technology specializes in the research and development of integrated circuit IP and Chiplet products, focusing on solving computing power expansion and high-speed interconnection issues [1] - The main products and services offered by Kuixin Technology include various high-speed interface IPs and Chiplet solutions based on interconnection IP, as well as chip design services [1] Group 3: Market Reaction - On November 14, HeShun Petroleum's stock hit the daily limit, closing at 28.03 yuan per share, with a total market capitalization of 4.819 billion yuan [2]