Core Viewpoint - Wan Tong Development experienced a significant drop, hitting the daily limit down, amidst a generally bullish market, raising concerns over its recent cross-industry acquisition [2][4]. Group 1: Stock Performance - On August 18, Wan Tong Development opened sharply lower, reaching a daily limit down, closing at 9.58 CNY per share, with a decline of 9.96%, resulting in a total market capitalization of 18.1 billion CNY [2][3]. - The stock was the only non-ST stock to hit the daily limit down during a day when over a hundred stocks were hitting the limit up [3]. Group 2: Acquisition Details - Wan Tong Development announced plans to invest a total of 854 million CNY to acquire a 62.98% stake in Beijing Shudu Information Technology Co., Ltd. (Shudu Technology), which will become a subsidiary post-transaction [6]. - The acquisition has raised questions regarding its commercial rationale, as Shudu Technology has been reporting continuous losses in recent years [6]. Group 3: Strategic Shift - The company stated that this transaction is a critical opportunity to enter the high-value digital chip sector, marking a strategic shift from real estate to digital technology [7]. - Wan Tong Development aims to adjust its development strategy, gradually transitioning its focus from the real estate industry to the digital technology sector, thereby optimizing resource allocation and promoting a new growth trajectory [7]. Group 4: Shareholder Information - As of the end of March this year, Wan Tong Development had 68,613 A-share accounts, with an average holding value of 159,500 CNY per account [9].

Core Viewpoint - Wantong Development's stock plummeted to the daily limit down on August 18, amidst a generally bullish market, raising concerns over its recent cross-industry acquisition [2][4]. Group 1: Stock Performance - On August 18, Wantong Development's stock opened sharply lower, hitting the daily limit down, closing at 9.58 yuan per share, with a decline of 9.96%, resulting in a total market capitalization of 18.1 billion yuan [2][4]. - It was the only non-ST stock to hit the daily limit down during a day when over a hundred stocks in the market reached their daily limit up [2]. Group 2: Acquisition Details - Wantong Development announced plans to invest 854 million yuan to acquire a 62.98% stake in Beijing Shudu Information Technology Co., Ltd., which will become a subsidiary and included in consolidated financial statements [4]. - The acquisition has raised questions regarding its commercial rationale, as Shudu Technology has been operating at a loss in recent years [4]. - The company aims to shift its strategic focus from the real estate sector to the digital technology sector, seeking to establish a second growth curve in high-value digital chip production [4].