Core Viewpoint - The recent change in control at Hangxin Technology has led to a significant decline in its stock price, indicating investor skepticism regarding the new ownership and its potential impact on the company [1][2]. Group 1: Control Change Details - Hangxin Technology's new controlling shareholder, Quzhou Chuangke, acquired 36.706 million shares from Guangzhou Hengmao, with a total transaction value of 535 million yuan, at a price of 14.57 yuan per share, representing a 28% discount from the last trading price before suspension [2][3]. - The new controlling entity, Quzhou Chuangke, is backed by the Quzhou State-owned Assets Supervision and Administration Commission, suggesting potential state support for the company's future operations [2][3]. Group 2: Company Background and Performance - Hangxin Technology specializes in aviation equipment operational support, with established partnerships with major domestic engine and aircraft manufacturers, as well as renowned universities [4]. - The company reported a revenue of 1.415 billion yuan for the first three quarters of 2025, a year-on-year increase of 2.77%, while its net profit attributable to shareholders decreased by 7.31% to 17.6244 million yuan [4]. Group 3: Strategic Implications - The acquisition aligns with Quzhou's industrial development goals, which include expanding high-end equipment and other key sectors, aiming for a total output value of 220 billion yuan by 2025 [4]. - Quzhou's existing resources, such as Quzhou Aviation Co., are expected to create synergies with Hangxin Technology, enhancing operational capabilities and market positioning [5].

Core Viewpoint - The company is undergoing a potential change in control, which may lead to a shift in its major shareholder and actual controller, prompting a temporary suspension of its stock and convertible bonds trading [1]. Company Overview - Hangxin Technology specializes in comprehensive operational support services for airborne equipment, covering areas such as equipment development, maintenance, and services [1]. - The company has made significant progress in the development and production of domestic aircraft components, benefiting from China's large aircraft strategy and the growth of the civil aviation industry [1]. Financial Performance - In the first half of the year, Hangxin Technology achieved a revenue of 937 million yuan, representing a year-on-year increase of 0.95% [1]. - The net profit attributable to shareholders was 16.67 million yuan, up 3.51% year-on-year [1]. - The net profit after deducting non-recurring gains and losses was 16.02 million yuan, showing a substantial year-on-year growth of 39.53% [1]. Shareholder Changes - On October 17, the former major shareholder, Liu Shaojun, announced plans to divest all remaining 2.4013 million shares, which constitutes 0.98% of the total share capital [2]. - Since 2019, Liu Shaojun has reduced her holdings multiple times, totaling 12.4081 million shares, with a divestment amount of approximately 197 million yuan [2].