Core Viewpoint - The acquisition of 100% equity in Xinnuo Communication by Gaoling Information has been terminated due to a lack of consensus among the parties involved in the transaction [1][5]. Group 1: Acquisition Details - Gaoling Information planned to acquire Xinnuo Communication for six months but announced the termination of the acquisition on June 2, 2024 [1]. - The termination was attributed to the failure of the parties to reach an agreement on the final transaction plan [1][5]. - Xinnuo Communication had submitted an IPO application in June 2023, which was accepted by the Shanghai Stock Exchange, but it was voluntarily withdrawn on June 25, 2024 [4]. Group 2: Financial Performance - Gaoling Information has experienced a decline in revenue for two consecutive years, with reported revenues of CNY 5.17 billion, CNY 3.56 billion, and CNY 2.66 billion from 2022 to 2024, reflecting year-on-year changes of 4.48%, -31.13%, and -25.23% respectively [7]. - The net profit has also decreased for three consecutive years, with figures of CNY 884.17 million, CNY 460.52 million, and a loss of CNY 522.76 million for the same period, showing year-on-year declines of 25.66%, 47.92%, and 213.52% respectively [7]. - In 2024, the company reported its first loss since going public, primarily due to reduced demand in the military telecommunications equipment sector and increased accounts receivable [7][8]. Group 3: Research and Development - Despite financial challenges, Gaoling Information maintained stable R&D investment, amounting to CNY 80.04 million in 2024, which constituted 30.03% of its revenue [1][9]. - The company has focused its R&D efforts on advanced technologies such as secure fixed-line communication, integrated communication technology, and artificial intelligence, targeting key business areas like military communication network construction [9].